Sustainability Milestones: Siemens’ Fiscal Year 2023 Report

Sustainability Milestones: Siemens’ Fiscal Year 2023 Report

(IN BRIEF) Siemens has released its Sustainability Report for fiscal year 2023, highlighting substantial progress in sustainability efforts. Since 2019, the company has reduced its own CO2 emissions by 50%. Over 90% of Siemens’ business supports sustainability, helping customers avoid around 190 million tons of CO2 emissions in fiscal 2023. Judith Wiese, Chief People and Sustainability Officer, emphasized Siemens’ commitment to combating climate change and driving sustainability transformation. Siemens follows a holistic ESG framework called DEGREE and plays a significant role in decarbonization, global climate protection, and resource efficiency. The company aims to achieve carbon neutrality by 2030 and has made strides in promoting equity and sustainable employability.

(PRESS RELEASE) MUNICH, 7-Dec-2023 — /EuropaWire/ — Siemens AG (ETR: SIE), a German multinational conglomerate and Europe’s largest industrial manufacturing company, has released its Sustainability Report for fiscal year 2023, showcasing significant advancements in various sustainability targets. Since the baseline year of fiscal 2019, Siemens has successfully reduced CO2 emissions within its own operations by 50%. Moreover, more than 90% of Siemens’ business contributes positively to sustainability, with technologies sold in fiscal 2023 estimated to help customers avoid approximately 190 million tons of CO2 emissions, representing a 24% improvement from the previous year.

Judith Wiese, member of the Managing Board of Siemens AG and Chief People and Sustainability Officer, highlighted the company’s dedication to sustainability, stating, “We’ve been making strong progress towards our ambitious sustainability targets. We are making an effective contribution toward combatting climate change and are driving the sustainability transformation of our customers and economies. Technology is the key to a sustainable future, and it is people who develop this technology. To successfully transform society and the economy, future-oriented skills in digitalization, technology and sustainability are paramount for addressing this challenge. Siemens is continuously investing in an active learning culture to support the sustainable employability of the people. In fiscal 2023 the technology company invested a total of €416 million in training and continuing education for its workforce (fiscal 2022: €375 million).

Siemens follows a comprehensive approach to environmental, social, and governance (ESG) targets known as DEGREE, encompassing decarbonization, ethics, governance, resource efficiency, equity, and employability, with clear and measurable key performance indicators.

Siemens’ extensive portfolio plays a pivotal role in decarbonization, global climate protection, and resource efficiency. Eva Riesenhuber, Global Head of Sustainability at Siemens, emphasized the company’s commitment to sustainability, saying, “As a leading technology company, we combine the real and digital worlds. In this way, we’re enabling the competitiveness and resilience – and, above all, the sustainability – of our customers worldwide. More than 90 percent of our business enables our customers to accelerate their digital and sustainability transformation supporting their efforts to meet their sustainability targets.”

Siemens’ products and technologies are driving substantial progress in decarbonization across infrastructure, industry, healthcare, and transportation sectors, which are responsible for a significant portion of global greenhouse gas emissions. The innovative solutions Siemens provided in fiscal 2023 are expected to avoid around 190 million tons of greenhouse gas emissions throughout their lifetime, marking a 24% increase from the previous year.

Siemens is also well on its way to achieving carbon neutrality by 2030, with investments in its own technologies making a substantial impact. The company has halved its operations-related CO2 emissions compared to the 2019 baseline year and is positioned to meet its ambitious targets, including a 55% reduction in CO2 emissions by 2025 and a 90% reduction by 2030.

Siemens’ commitment to sustainability aligns with the Paris Agreement’s goals and supports limiting global warming to 1.5 degrees Celsius. The company has also made notable progress in resource efficiency, reducing landfill waste by 15% compared to 2021.

Sustainable employability remains a core focus for Siemens, with significant investments in digitalization, sustainability, and leadership education. The company’s efforts to promote an inclusive, empowering culture and upskilling initiatives have resulted in an average of approximately 23 digital learning hours per employee in fiscal 2023.

In terms of equity, Siemens has made substantial progress in increasing the percentage of women in leadership positions, reaching 31% in fiscal 2023, up from 23% in 2020. The company’s Global Equity Program has played a crucial role in achieving equal rights and equal treatment in recruitment and promotions.

Overall, Siemens’ commitment to sustainability, resource efficiency, and equity reflects its dedication to driving positive change in the global business landscape.

Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare.
In fiscal 2023, which ended on September 30, 2023, the Siemens Group generated revenue of €77.8 billion and net income of €8.5 billion. As of September 30, 2023, the company employed around 320,000 people worldwide. Further information is available on the Internet at www.siemens.com.

Media contacts:

Andreas Friedrich
Siemens AG
Werner-von-Siemens-Straße 1
80333 Munich
Germany
+49 1522 2103967
friedrich@siemens.com

Konstanze Somborn
Siemens AG
Werner-von-Siemens-Straße 1
80333 Munich
Germany
+49 173 8947354
konstanze.somborn@siemens.com

SOURCE: Siemens