Siemens increases and accelerates sustainability targets and investments

By Bhalchandra Chorghade, Editor, CNCTimes.com

Siemens has been a pioneer in sustainability for many years and is continuing to accelerate its commitments. With the publication of its Sustainability Report covering environmental, societal and corporate governance (ESG) for fiscal 2022, the company announced new, more ambitious targets for its own decarbonization as well as extensive investments. Siemens also disclosed the customer emissions avoided through its products and solutions sold in 2022, approximately 150 million tons, based on an updated future impact calculation methodology in accordance with the principles outlined in the Greenhouse Gas (GHG) Protocol Reporting Standard.

“Sustainability is a key part of our strategy. We are a technology company with a unique portfolio that supports our customers with their increasingly stringent ESG ambitions. As our accelerated targets and extensive investments show, it is deeply embedded in our business activities, investment decision-making and governance,” said Roland Busch, President and CEO of Siemens AG.

“We firmly believe that technology is the answer to creating a sustainable future. Through the DEGREE framework – our 360-degree view of ESG priorities – we are dedicated to creating a better tomorrow by doing more with less. To achieve this goal, we invest in our portfolio and apply our technologies in our own operations. At the same time, our products and solutions help our customers to achieve their sustainability targets and solve their specific challenges, multiplying impact across the backbone of economies and societies,” said Judith Wiese, Chief People and Sustainability Officer and member of the Managing Board of Siemens AG.

Siemens defines its environment, social and governance (ESG) targets in the DEGREE strategic framework. The technology company follows a holistic approach in its six fields of action: decarbonization, ethics, governance, resource efficiency, equity and employability – with stringent and measurable metrics.

In its own climate protection efforts, Siemens has made good progress toward reaching net zero in its own operations by 2030 and in cutting its operational CO2 emissions 46 percent compared to the 2019 baseline. The company aims to significantly accelerate the reduction of carbon emissions and, for this purpose, has set an intermediate goal of reducing physical CO2 emissions in its own operations by 55 percent compared to 2019 levels by the end of fiscal 2025. Siemens is also increasing its target for physical CO2 reduction from 50 percent to 90 percent by 2030, compared to 2019.

To achieve this goal, Siemens is investing €650 million in its own decarbonization by 2030, especially through the power of its own technologies. By committing to the Science Based Targets initiative (SBTi), Siemens is supporting the goal of the Paris Climate Agreement and making a positive contribution to limiting climate change to 1.5 degrees Celsius. Siemens also made significant progress in its resource efficiency, for instance, reducing its landfill waste by 12 percent and increasing its share of material recycling in total waste to 84 percent in fiscal 2022.

https://press.siemens.com/global/en/pressrelease/siemens-increases-and-accelerates-sustainability-targets-and-investments

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