German auto suppliers Schaeffler & CITIC Pacific Special Steel Ghave signed an agreement to form in-depth strategic cooperation in such areas as sustainable development of supply chain, R&D of new products and technologies, as well as digital connectivity. Under the agreement, Schaeffler will purchase green steel from CITIC Steel, in a bid to speed up the pace of achieving its climate neutrality goal.Schaeffler said it formed cooperation with CITIC Steel as far back as 2003. The latest agreement signing will allow the duo to cement collaboration on supply chain, joint R&D, and technical exchanges.Schaeffler aims to be operating as a climate-neutral company from 2040. The objective covers the entire supply chain of the group. In addition, it expects its production facilities to already be climate neutral from 2030, and the emissions from intermediates and raw materials occurring in the supply chain to be reduced by 25% by the same year. The base year for all calculations is 2019.