AutoWallis Group is one of the biggest Hungary-based investment companies that operates within the automotive sector across Central and Eastern Europe. The company has announced that it is launching its Environmental, Social, and Governance strategy. The new strategy is going to provide the required umbrella in setting all the subsidiaries under one directive; hence, therefore, a tremendous step towards fulfilling the vision of the group. The strategy sets out widely set goals to be reached within five main areas: climate change, staff, customer service, conduct of business, and urban mobility.
A Harmonized ESG Strategy
AutoWallis Group operates in sixteen countries in Central and Eastern Europe, which amounts to a critical market player within the automotive industry in the region. AutoWallis has just introduced its ESG strategy which proves commitment to the harmonization of environment, social, and governance elements in all its operations. This new strategy furthers the old targets and sets the vision of AutoWallis being one of the frontrunners in its sector in sustainability performance.
The ESG strategy sets up identical things for the subsidiaries by AutoWallis, where all companies seek to achieve similar sustainability requirements and goals. In this regard, the five primary areas of focus under the strategy—climate change, staff, customer service, business conduct, and urban mobility—all point to some specific requirements that the company would want to implement over the coming decade.
Climate Change Mitigation through Renewable Energy
However, tackling climate change is an explicit base goal of the AutoWallis ESG strategy, marked with an aggressive increase in the use of renewable energy within its operation. The company has set an ambitious target to source 30% of its energy from renewable sources by 2031. This will be by the commitment to lower the fundamentals’ environmental footprint and, more importantly, to help in the cause against global climate change.
In addition to reinforcing the use of renewable energy, at AutoWallis it will be part of the corporate culture that even its employees will be trained under the ESG regimen. Second, the company is committed to ongoing accessible, safe, and affordable transport for its customers by 2030 to date, thereby ensuring that as a corporate citizen in the regions where it does business it will continue to do this responsibility.
Building Infrastructure for Urban Mobility
The second most important field of activity is improving urban mobility. This is one of the main ESG strategies of AutoWallis, which aims to serve the growing interest in alternative urban transportation solutions through continuous expansion of the service-related infrastructure for mobility. Going forward, AutoWallis will be installing 100 additional EV charging points by 2031, which should significantly improve access to EV charging infrastructure in those regions where the company is represented.
The development of electric vehicle charging infrastructure is one of the strong points of investment into greener mobility solutions being promoted by AutoWallis. Most importantly, charging infrastructure supports a reduction in the carbon footprint from its operational vehicles toward a generally cleaner and environmentally sustainable urban set-up.
Commitment to Social and Governance Practices
Thus, the ESG strategy of AutoWallis Group also accounts for the social and governance part. Management is trying to set up a common governance policy between all its subsidiaries. Good governance and adopting ethical business conduct by the organization are, therefore, implemented by having a robust governance policy. This would include adhering to the best corporate-governance practices, transparency, and ensuring that all the business operations are conducted with the highest standards of integrity.
Socially, AutoWallis gears their organization towards improving the welfare of their workforce and the surrounding community. The company will also invest in the employees’ competence development through ESG-targeted training, enabling them to contribute to the attainment of the group’s sustainability goals.
Paving the Road with Green Financing
AutoWallis has taken very significant steps toward this effort in aligning the sustainability goal with its financial practices. It became the first group listed on the Budapest Stock Exchange, in the category of the Prime Market, to introduce a Green Finance Framework in order to take part in the market of green bonds. These underline the AutoWallis commitment to green investments and its leadership in utilising EU Taxonomy-compatible green financing solutions.
It is a fact that green financing remains one of the group’s priorities, as it has taken concrete steps in recent years to attract investments that match its sustainability goals. By tapping green bonds and other sustainable financing instruments, AutoWallis positions itself as a progressive leader in the automobile sector, committed to driving a positive impact on the environment and society.
Outlook: Towards Sustainability
With this ESG strategy defined, AutoWallis will be one of the key players with respect to the regional vehicle retail, wholesale and mobility service market by 2028. So, its ambitious targets together with strategic projects have put the company almost at the forefront of the green transition in Central and Eastern Europe.
As it goes on with this ESG strategy, AutoWallis will be part of the monumental shift in the region toward sustainable modes of mobility. Efforts to scale up the use of renewable energy, expansion of electric vehicle infrastructure, and prompting practices in the space of the outlined ones on social and government aspects will surely put in their contribution to an automotive industry that is responsible.
Source: AutoWallis