Siemens accelerates with increased sustainability goals and investments

Overview

Siemens has long been a pioneer in sustainability and continues to accelerate its commitment. With the publication of its Sustainability Report covering environmental, social and corporate governance (ESG) for fiscal year 2022, the company has announced new, more ambitious goals for its decarbonization and large-scale investment . Siemens will also estimate customer emissions avoided by products and solutions sold in 2022 ( approximately 150 million tons).

“Sustainability is an important part of our strategy. We are a technology company with a unique portfolio that supports our customers with increasingly stringent ESG ambitions. CEO Roland Busch said:

“We firmly believe that technology is the answer to creating a sustainable future. We are dedicated to creating a better tomorrow by doing.To achieve this goal, we invest in our portfolio and apply our technology to our business. Our products and solutions help our customers achieve their sustainability goals, solve specific challenges and make an impact across the economic and social backbone.” Siemens AG.

DEGREE: A 360 Degree Approach to Environmental, Social and Governance (ESG)

Siemens defines environmental, social and governance (ESG) goals in its DEGREE strategic framework. The tech company takes a holistic approach with rigorous and measurable metrics across his six action areas: decarbonisation, ethics, governance, resource efficiency, equity and employability.

Decarbonization: good progress, new goals, big investments

In its commitment to climate protection, Siemens is on track to reach net zero in its operations by 2030, reducing its operational CO2 emissions by 46% compared to its 2019 baseline. We are making good progress. The company aims to significantly accelerate the reduction of its carbon emissions, and to this end, by the end of fiscal 2025, he will reduce his physical CO2 emissions in his operations to his 2019 level. We have set an intermediate target of a 55% reduction in comparison. A target to reduce physical CO2 from 50% to 90% by 2030 compared to 2019. To reach this goal, Siemens is investing his €650 million in its own decarbonization by 2030. By committing to the Science-Based Targets Initiative (SBTi), Siemens supports the goals of the Paris Climate Agreement and actively contributes to limiting climate change to 1.5 degrees Celsius. Siemens has also made significant strides in resource efficiency, reducing waste to landfill by 12% in fiscal 2022 and increasing material recycling to 84% of total waste.

Long-term employability: investing in people

In addition, Siemens invests in its employees and is committed to lifelong learning, equity and benefits. In 2022, each Siemens employee completed an average of approximately 21 hours of digital learning. This is about 14 hours more than the 2020 baseline. As part of these efforts, Siemens has invested €280 million in professional training and continuing education for his 2022 financial year. Recognizing the importance of supporting continuing education and long-term employability, the company has increased its annual digital learning service usage target. By the end of the 2025 academic year, he will reduce his digital study time to 25 hours.

Sustainability-related business as the greatest vehicle for decarbonization and climate protection

Siemens is making a significant impact in the areas of environmental protection and decarbonization by applying its technology and products to customers representing the backbone of the industrial, infrastructure, transportation and healthcare economies.

In fiscal year 2022, Siemens has once again leveraged its innovative technology portfolio to help its customers and partners around the world, as well as many major industries, significantly reduce their CO2 emissions. As a result, the products and solutions sold to customers by Siemens in fiscal year 2022 will avoid approximately 150 million tons of greenhouse gas emissions over their lifetimes. This equates to 13 times the nearly 12 million tons of greenhouse gas emissions generated in the manufacturing process from raw material extraction to the factory gate (upstream scope 1, scope 2 and scope 3). Siemens applies an updated methodology based on his GHG Protocol reporting standards for downstream Scope 3 emissions to calculate customer emissions avoided across the use phase for all products and solutions sold in a financial year. Implementing. Calculated with this methodology, Siemens has accelerated his CO2 reductions at customers from 138 million tonnes to he 150 million tonnes using the equivalent methodology for fiscal year 2021.

About Siemens

Siemens AG (Berlin and Munich) is a technology company specializing in industry, infrastructure, transport and healthcare. From more resource efficient factories, resilient supply his chain, smarter buildings and grids, to cleaner and more comfortable transportation to advanced healthcare, the company adds real value to its customers. We create technology with a purpose. By combining the physical and digital worlds, Siemens enables customers to transform industries and markets, helping billions of people transform their everyday lives. Siemens also owns a majority stake in the publicly traded Siemens Healthcare, the world’s leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in power transmission and power generation. In the 2022 financial year ended September 30, 2022, the Siemens Group generated revenue of €72 billion and net profit of €4.4 billion. As of September 30, 2022, the company has approximately 311,000 employees worldwide.