Environmental sustainability initiatives within the global automotive sector

Climate change, resource depletion and energy crisis, pollution and waste, losing biodiversity are growing environmental concerns globally. Concerned about the environment, businesses are creating a sustainable economy and enhancing social well-being. Not only is sustainability becoming a competitive advantage in businesses, it is also evolving as a management strategy.

Many changes need to be made in all aspects of a business for the industry to become more sustainable. Sustainable development is a multi-faceted issue that attracts considerable interest not just from the automotive sector but also the entire business world that it operates in. The world has endless fleets of vehicles of different types. With globalisation, automotive firms are becoming truly international. Automakers are among the largest companies and groups in the world, and the automobile manufacturing and supply industry is the central industry and backbone of the world economy. Therefore, the automotive industry needs to take systematically into account how sustainable development can affect each business strategy.