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Siemens Energy presented its Sustainability Report for the fiscal year 2021. The company aims to ensure greater transparency on its sustainability performance. The report showcases what the company achieved in the previous fiscal year in the environmental, social, and governance (ESG) areas while indicating where Siemens Energy can further improve.
To honor its responsibility and to consider the importance of its products and solutions for decarbonizing energy systems worldwide, Siemens Energy will henceforth report the emissions of GP’s sold products during their entire use phase (scope 3 downstream). By 2030, these emissions are to be reduced by nearly one-third. Already last year, the highly regarded Science Based Targets initiative (SBTi) verified that Siemens Energy’s emission reduction targets comply with the Paris Agreement and thus contribute to limiting global warming to the extent stipulated in the agreement.
The assessment of the company’s sustainability activities by CDP is another first: GP was rated B on a scale of A to D. Siemens Energy has made progress under its Climate Neutral Program. The company has already announced that it wants to achieve climate neutrality in its own operations by 2030. In line with the 1.5°C pathway of the Paris Agreement, absolute emissions (direct and indirect emissions from its own business activities, scopes 1 and 2) must decline by 46 percent until 2030. The company however commits to achieving this interim target already in 2025, five years earlier than originally planned.
As early as 2023, all the electricity used at Siemens Energy will be green energy. In fiscal 2021, green electricity accounted for 76 percent of the company’s total electricity use. Siemens Energy has also set the ambitious target of achieving a reduction of 30 percent per euro purchase value in relative scope 3 upstream emissions in the supply chain by 2030.
Christian Bruch, CEO and Chief Sustainability Officer of Siemens Energy says, “Climate change concerns all of us. Governments, society, and businesses are responsible for combating global warming. And while there are many stated targets and mandates, there is no ‘silver bullet’ for the energy transition: we need a variety of technologies, including gas. Siemens Energy covers the entire energy value chain. That’s why we’re the partner of choice to help companies decarbonize their businesses”.