Our Approach to Sustainability

Woodbridge’s commitment to Environmental, Social, and Governance (ESG) is embedded in all aspects of our organization, which includes our Mission Statement, Purpose, Values, and Guiding Principles, Code of Business Conduct and Ethics, corporate policies and related standards, as well as the way that we do business and interact with the community. Woodbridge continues to drive continuous improvement, conducting our business centered around environmental stewardship, economic prosperity, and social responsibility. Our efforts are guided by the Woodbridge leadership team and take into consideration the respect and rights of stakeholders, shareholders, our Teammates, customers, suppliers, and the communities where we operate.

2023 Woodbridge Sustainability Report

Our Corporate Social Responsibility program includes the following five pillars:

Environmental Sustainability

The Road to a Carbon-Neutral Future

Our Products - We are committed to sustainability by continuously improving our technologies and reducing precious resource consumption. Our strategy is to expand the development of lightweight products for better vehicle fuel economy and reduced emissions utilizing environmentally friendly materials and technologies. In support of this initiative, we develop products that deliver attributes including Comfort, Lightweight, Craftsmanship, Clean, Utility, Structure and Acoustics. A few select products that deliver environmentally impactful results include:

TrimVisible™ BIO

Woodbridge recently commercialized TrimVisible™ BIO. This was the product of several years of research and development. Woodbridge partnered with a certified sustainably managed forest and developed a proprietary process to convert residue from commercial lumber processing into a high-purity form of biocarbon. The Woodbridge process sequesters the biocarbon, effectively locking CO2 in a form that can further be used to displace conventional urethane chemicals. TrimVisible™ BIO combines world-class low-VOC and low-odor chemical technology with a completely sustainable answer to offsetting significant CO2 emissions from seating foam. TrimVisible™ BIO was recognized in 2022 with the PACEpilot Innovation to Watch award and in 2023 by the Business Intelligence Group’s Sustainability Product of the Year award.

Biocarbon in Thermoplastics

Following on the success of TrimVisible™ BIO, Woodbridge has initiated two projects to incorporate biocarbon into our thermoplastic products. Both projects look to displace 10% or more of nonrenewable raw materials with sequestered biocarbon based on sustainable forest biomass. It is estimated that the Global Warming Potential of the thermoplastic raw materials will be reduced by over 20% with the incorporation of biochar while maintaining the current physical properties.

High-Performance Foam

Woodbridge brings high-performance and lightweight foam solutions to the next generation of automotive seating. This innovative, low-density foam chemistry enables mass reduction on high-density products that maintain or improve the foam’s physical properties and performance. It can also be used to improve the performance of current foam products, avoiding the need to increase density to improve performance. This technology aids customers in reducing weight with a lower-density polyurethane foam without compromising comfort, durability and craftsmanship. Vehicle mass reductions not only translate into improved fuel economy over the lifetime of the vehicle, but also have a direct impact on lowering the cradle-to-grave CO2 footprint for the vehicle by eliminating CO2 emissions prior to seat and vehicle assembly.

Encapsulated StructureLite™

Woodbridge StructureLite™ seating enables low-mass seating through composites that combine recyclable Expanded Polypropylene (EPP) and high-performance polyurethane seating foams while significantly reducing the typically required steel componentry. The EPP substrate is encapsulated together as a single-seat module in a one-step molding process. Current production designs have been launched where up to 70% of the complete seat mass has been reduced from the previous conventional designs. The Product Carbon Footprint (PCF) for the StructureLite™ composite seat can be more than 20% lower than conventional polyurethane and steel seat constructions. At end of life, the composite product is easily separated for recycling, where up to 50% of the seat can be recycled with currently available technologies.

Community Involvement

WoodbridgeCARES Teammate Community Involvement

Woodbridge believes that each and every person can have a positive impact on the world. WoodbridgeCARES is a global initiative aimed at inspiring our Teammates to contribute to the communities in which we operate through volunteerism and philanthropy. The Vision for this global effort is to empower Teammates, as individuals or in teams, to seek out opportunities to assist others in need in their communities, such as providing food and supplies for people experiencing food insecurity, housing or medical challenges, distributing toys to less fortunate children, or special assistance for seniors. The initiative also includes responding when fellow Teammates experience a sudden or unexpected setback where help from their team can provide comfort and reassurance

The Charter of the WoodbridgeCARES Community Involvement Committee is:

“To further our commitment to deliver products in a socially responsible way, we commit to look at ways we can continue to inspire and give back to the communities where we work and live. The committee will provide guidance and support to our teams regarding local community involvement, volunteerism, and philanthropy.”

WoodbridgeCARES has four main principles:

PARTICIPATION: Improve the communities in which we operate through volunteerism and philanthropy.

Start with our own Teammates and their families.
Expand to our immediate local communities.
Participate in worthwhile global initiatives.

EMPOWERMENT: Empower and support individual Teammates, groups of Teammates, locations and regions to develop initiatives that hold special meaning for them.

Adopt a grassroots / local approach.
Engage corporate to provide support for those local initiatives.

INSPIRATION: Track, share and recognize success stories in order to inspire others.

Track dollars, volunteer hours and impact.
Communicate internally and externally.
Recognize the accomplishments of individuals, Teammates, locations, and regions.

ENGAGEMENT: Enhance Teammate work experiences through community involvement.

Feel good while doing rewarding work for the community.

In an effort to inspire all local teams, the WoodbridgeCARES Founder’s Award is presented annually to a location that best demonstrates outstanding contributions to the community in which it operates, through volunteerism and philanthropy.

For initiatives that are above and beyond what is available locally, local teams are encouraged to request additional financial support from the WoodbridgeCARES Charitable Fund which has a substantial annual budget.

Teammates

At Woodbridge, we believe that our Teammates are our most important resource. From the beginning of the company’s existence, the corporate Purpose has been “to deliver safe workplaces and the profitability required to create and sustain rewarding jobs.” Over forty years later, our Purpose is as relevant now as it was then.

We provide particular focus on the following:

Safety – Safety is our number 1 Value and an unquestioned top priority in Woodbridge. All Teammates, both corporate and facility, are responsible for the aspects of health and safety over which they have control, including compliance to our health and safety policies, procedures and requirements. Teammates effectively participate in the HSE Management System, at all levels of the organization, through their local Joint Health and Safety Committee. This provides our Teammates with the time and resources required to participate in, at a minimum, planning, implementation, evaluation, corrective and preventive action, timely access to information relevant to the HSE Management System and identifying and removing obstacles or barriers to participation. This can be seen in:

Our core Value of “Health, Safety & Environment”; and
Our world-class Health and Safety Management System which is certified under ISO 14001.

Workplace, Fairness, Respect and Anti-Violence: We are deeply committed to protecting our Teammates’ human rights by promoting and ensuring non-discrimination and diversity in the workplace, as evidenced by:

Our core Value of “Respect People & Diversity”.
Our Workplace Fairness, Respect and Anti-Violence Policy which provides our Teammates with comprehensive protections relating to discrimination and various forms of harassment. Specific training includes: Sexual Harassment, Gender Identity and Workplace Fairness, Respect and Anti-Violence programs.
Our Equal Employment Opportunities Policy Statement that says, in part, that:
“It is the policy of Woodbridge to continue to provide equal employment opportunity to all applicants and employees without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, age, disability, protected veteran status, or any other protected characteristic.”
Our Open-Door Policy sets out our longstanding system which allows all Teammates to take any concerns through all levels of the Woodbridge management group up to and including the CEO. Additionally, Woodbridge provides an internet and telephone-based hotline reporting system called SpeakUP! where Teammates can confidentially report any issues they may encounter.
The voice of our Teammates is heard through the execution of a global Teammate engagement survey which is conducted approximately every 18 months resulting in actions and dialogue to address issues as they arise and to ensure a continuously improving workplace.

Teammates’ Rights – Woodbridge is committed to maintaining global working conditions and standards that result in dignified and respectful treatment of all Teammates within all our global operating locations. As such, we make the following commitments to our Teammates in our Code of Business Conduct and Ethics:

Child labor shall not be utilized.
Any form of forced or compulsory labor is prohibited.
Teammates, without fear of reprisal, intimidation or harassment, have the right to communicate openly with management regarding working conditions.
Teammates also have the right to associate freely and join labor unions and workers’ councils in accordance with local laws.
Teammates shall be protected against any form of harassment and discrimination in any form, including but not limited to gender, sex, age, religion, disability and political beliefs.
Teammates shall have a safe and healthy workplace that meets or exceeds all applicable standards for occupational health and safety.
Teammates shall be compensated with wages and benefits that are competitive and comply with local law, including minimum wages, overtime hours and legally mandated benefits.
Woodbridge will treat all Teammates with dignity and respect.
Working hours shall comply with all applicable local laws regulating hours of work.

Youth Employment – We have maintained a longstanding commitment to fostering employment opportunities for young people through, amongst other things, an extensive engineering co-op student program.

Teammate Investment – Woodbridge believes in continuous improvement in developing our talent. In addition to ongoing “on the job training” and current compliance training (i.e. Workplace, Fairness, Respect & Anti-Violence), Woodbridge also provides support for continuing education and development.

Code of Business Conduct and Ethics

In addition to complying with all laws, we firmly believe in conducting our business with honesty, integrity, fairness and respect throughout the organization. We require that our Teammates respect and act in a manner sensitive to the cultures and customs of the countries in which we operate, as well as the communities and environment where we conduct business.

Our Code of Business Conduct and Ethics is a comprehensive guide for all of our Teammates related to various legal, social and ethical matters and contains, among others, requirements relating to the following:

Compliance with Laws
Health, Safety and Environment
Respect for People and Human Rights
Teammates’ Rights
Conducting Business with Honesty, Integrity, Fairness and Respect
Open Door Policy
Protection of Personal Privacy and Stakeholder Information
Financial Reporting
Compliance with Antitrust and Competition laws
Use of Confidential Information
Company Records
Bribery and Corruption
Inside Information
Conflict of Interest
Reporting and Compliance Procedures

In addition, we have implemented comprehensive corporate policies and related standards and procedures that give specific guidelines related to the following:

Our Global Anti-Bribery and Corruption Policy which provides strict directions regarding bribery, extortion and corruption;
Our Competition Law and Antitrust Compliance Policy which requires that all of our operations globally comply with applicable competition laws;
Our Conflict of Interest Policy which requires all Teammates, officers and directors to avoid any potential conflicts of interest;
Our Workplace Fairness and Respect and Anti-Violence Policy which requires that our operations are committed to creating and maintaining a work environment that is characterized by fairness and respect, free from harassment, discrimination and/or violence, for all of our Teammates
Our Open-Door Policy which provides for all Teammates open lines of communication to take any concerns through all levels of the Woodbridge management group, up to and including the CEO.

Our Global Corporate Compliance Committee is responsible for implementing and maintaining a global corporate compliance program and consists of discipline and regional leaders.

We encourage all Teammates to use our SpeakUP! Hotline to report any violations of the Code of Business Conduct and Ethics or any policies or standards. The Hotline is available 24 hours a day, 365 days a year and is administered by an independent third party to ensure anonymity, if requested. We expressly prohibit any retaliation against any Teammate who reports genuine concerns in good faith.

WOODBRIDGE CODE OF BUSINESS CONDUCT AND ETHICS

Woodbridge Code of Business Conduct and Ethics (English version).pdf

Woodbridge Code of Business Conduct and Ethics (Chinese version).pdf

Woodbridge Code of Business Conduct and Ethics (Portuguese version).pdf

Woodbridge Code of Business Conduct and Ethics (Spanish version).pdf

Business Conduct & Ethics

Code of Business Conduct and Ethics

Compliance with Laws
Health, Safety and Environment
Respect for People and Human Rights
Teammates’ Rights
Conducting Business with Honesty, Integrity, Fairness and Respect
Open Door Policy
Protection of Personal Privacy and Stakeholder Information
Financial Reporting
Compliance with Antitrust and Competition laws
Use of Confidential Information
Company Records
Bribery and Corruption
Inside Information
Conflict of Interest
Reporting and Compliance Procedures

In addition, we have implemented comprehensive corporate policies and related standards and procedures that give specific guidelines related to the following:

Our Global Anti-Bribery and Corruption Policy which provides strict directions regarding bribery, extortion and corruption;
Our Competition Law and Antitrust Compliance Policy which requires that all of our operations globally comply with applicable competition laws;
Our Conflict of Interest Policy which requires all Teammates, officers and directors to avoid any potential conflicts of interest;
Our Workplace Fairness and Respect and Anti-Violence Policy which requires that our operations are committed to creating and maintaining a work environment that is characterized by fairness and respect, free from harassment, discrimination and/or violence, for all of our Teammates
Our Open-Door Policy which provides for all Teammates open lines of communication to take any concerns through all levels of the Woodbridge management group, up to and including the CEO.

Our Global Corporate Compliance Committee is responsible for implementing and maintaining a global corporate compliance program and consists of discipline and regional leaders.

Woodbridge Code of Business Conduct and Ethics

Woodbridge Code of Business Conduct and Ethics (English version).pdf

Woodbridge Code of Business Conduct and Ethics (Chinese version).pdf

Woodbridge Code of Business Conduct and Ethics (Portuguese version).pdf

Woodbridge Code of Business Conduct and Ethics (Spanish version).pdf

Supply Chain

Woodbridge works closely with its supply base to ensure that its principles regarding working conditions, business conduct and diversity sourcing are shared by its suppliers:

People - Woodbridge is committed to maintaining global working conditions and standards that result in dignified and respectful treatment of all Teammates within all our global operating locations, as well as those of our supply chain. Our expectations of our suppliers are clearly laid out in our Standard Terms and Conditions and our Supplier Requirements Manual. In particular, we expect that our suppliers will have appropriate policies, procedures and systems in place to support the following standards:

Child labor shall not be utilized.
Any form of forced or compulsory labor is prohibited.
Workers, without fear of reprisal, intimidation or harassment should be able to communicate openly with management regarding working conditions. They shall also have the right to associate freely and join labor unions and workers’ councils in accordance with local laws.
Workers shall be protected against any form of harassment and discrimination in any form, including but not limited to gender, sex, age, religion, disability and political beliefs.
Workers shall have a safe and healthy workplace that meets or exceeds all applicable standards for occupational health and safety.
Workers shall be compensated with wages and benefits that are competitive and comply with local law, including minimum wages, overtime hours and legally mandated benefits.

Working hours shall comply with all applicable local laws regulating hours of work.

Code of Business Conduct and Ethics - All Woodbridge suppliers are required to comply with Woodbridge's Code of Business Conduct and Ethics and its Global Anti-Bribery and Corruption Policy and all applicable federal, provincial, state and local laws, ordinance, rules, codes, standards and regulations.

Conflict Minerals - All materials used by Woodbridge’s suppliers in their goods or in their manufacture must satisfy governmental and safety constraints on restricted, toxic and hazardous materials as well as environmental, electrical and electromagnetic considerations that apply to the country of manufacture, sale or destination, including conflict minerals.

Certificate of Compliance – We require suppliers to furnish Woodbridge with certificates of compliance, which may include but are not limited to ensuring compliance with all applicable laws, ingredients, materials, goods and services, consumer protection, and conflict minerals.

Diversity Sourcing – We have committed to the sourcing of goods and services from minority and women-owned businesses and have established a Diversity Supplier Development Council which is charged with the responsibility of developing and administering the Diversity Supplier Development Program.

Our Diversity Supplier Development Policy states that:

“It is the policy of Woodbridge to encourage opportunities for minority and women-owned business organizations in order to promote economic development. Woodbridge recognizes its responsibilities to the customers that it serves and the communities in which it conducts its business. The sourcing of goods and services from minority and women-owned businesses must be a function of our routine purchasing practices at all levels of our organization. No potential supplier will be precluded from consideration on the basis of race, colour, religion, sex, age or national origin. Every Teammate who is delegated the responsibility of either directly or indirectly expending corporate funds for the purchase of goods or services is charged with the task of adhering to this policy.”

Annual Validation – Suppliers are required to annually complete Woodbridge’s online Sustainability Supplier Assessment form to ensure ongoing compliance to the provisions of this Corporate Social Responsibility Policy.