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LKQ 25TH Anniversary Stories –  Quarterly Story II:   Sustainability is our foundation
July 6, 2023

LKQ 25TH Anniversary Stories –  Quarterly Story II:   Sustainability is our foundation

LKQ has always been a leader in environmental protection. 

In 1998 our founders realized there was a better way to treat total loss and end-of-life vehicles (“TLV & ELV”) so that their materials could be repurposed. Since the first day LKQ Corporation was established, we have always had a strong focus on providing sustainable solutions in the automotive industry. 

As mentioned in our 2022 Corporate Sustainability Report (“CSR”) we are the world’s largest recycler of vehicles and this year we celebrate our 25th anniversary. LKQ Corporation has made great progress in adopting robust practices around our four core pillars of sustainability – our people, our planet, our communities, and our governance & ethics. 

We have established goals to reduce our emissions, increase employee engagement, and increase the diversity of our workforce. We operate 48 remanufacturing facilities worldwide and in 2022, globally we remanufactured more than 1 million items saving approximately 28,000 tons of materials from ending up in landfill. 

Our commitment to sustainability is unwavering, and we continuously seek opportunities to enhance our efforts. We have been investing in sustainability projects across LKQ’s business, making significant progress in technologies that will help to reduce our carbon emissions, implementing energy-efficient solutions, and developing sustainable product lines. We also prioritize resource preservation and promoting the reuse of vehicle parts, with a focus on the proper and environmentally sound handling of end-of-life cars. 

Sustainability is about much more than just environmental factors. It is also about ensuring the well-being and development of the people who drive our business every day. We provide our people with the necessary tools and resources to be successful and safe: LKQ YOU, our global digital employee learning platform, hosts a collection of more than 5,000 training activities available in 21 languages. Simply put, Our People are our Greatest Asset. 

We also strive through charitable endeavors to make the world a better place in the communities where we live and work – for our employees, their families, and our customers. 

We actively collaborate with associations, organizations, communities and industry partners to drive changes. In Europe, for example, in accordance with our supplier assessment process, we evaluate our main suppliers’ environmental practices and ethical standards, aiming to create a network of like-minded organizations working towards a common goal of sustainability. 

“Sustainability is not a choice, it’s a responsibility and sits at the core of LKQ’s culture. We only have one planet, and we must work together as one global community to ensure a sustainable future says Richard Brasher, Vice President Sustainability LKQ Corporation. 

LKQ received accolades in 2022 from the leading Sustainability rating and ranking organizations, namely MSCI, ISS, and Sustainalytics. MSCI granted LKQ the highest possible rating of AAA, highlighting our company’s exceptional Sustainability performance. This achievement is particularly significant for LKQ as MSCI Sustainability ratings serve as an independent measure of our long-term resilience to environmental, social, and governance (Sustainability) issues.

At LKQ, we consider challenges as opportunities, and we closely monitor carbon footprints throughout our value chain and acknowledge the need for effective collaboration throughout the entire business to meet our commitments. 

Since its inception in 2008, our Global Competency Center based in India has been focusing on sustainability projects such as supporting local ‘green’ initiatives, waste reduction strategies, and recycling initiatives. 

For example, by partnering with Gottigere Government School Bangalore, LKQ India successfully facilitated the installation of solar panels at the school, enabling it to reduce its monthly electricity bill by 80% and reducing its dependence on local electricity sources. This not only promotes renewable energy adoption but also supports the school’s financial sustainability, allowing them to allocate resources to other educational needs. 

In summary, we at LKQ understand that our natural resources are finite and must be managed carefully to ensure their availability for future generations. Consequently, we aim to minimize any negative impact from our global operations and will continue to work to help ensure that we meet our own goals and deliver a sustainable future for all of our stakeholders. After all: sustainability is our foundation.

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