A belt for suspending and/or driving an elevator car including a plurality of tension elements extending longitudinally along a length of the belt, and a plurality of yarns interlaced with the plurality of tension elements forming a composite belt structure. The plurality of yarns are formed from a self-extinguishing fluoroelastomer material. An elevator system includes a hoistway, an elevator car positioned in the hoistway and movable therein, a belt operably connected to the elevator car to suspend and/or drive the elevator car along the hoistway. The belt includes a plurality of tension elements extending longitudinally along a length of the belt and a plurality of yarns interlaced with the plurality of tension elements forming a composite belt structure. The plurality of yarns are formed from a self-extinguishing fluoroelastomer material.