Sustainability at Siemens Energy

Increasingly extreme weather events and rising sea levels are unmistakable signs of one of the biggest challenges of our time: climate change. At the same time, around 850 million people still live without reliable access to electricity, which is the foundation of sustainable development.

New Sustainability Report 2021

By energizing society, we create lasting value for future generations. Learn more about our focus areas and goals in our new Sustainability Report 2021.

How to fight climate change now

Climate change is a major threat to humanity. As Siemens

Energy Chief Executive Officer and Chief Sustainability Officer Christian Bruch notes, the time has come to radically change and decarbonize our energy system.

Our CO₂ reduction targets align with the Paris Agreement

The Science Based Targets initiative (SBTi) has verified Siemens Energy’s emission reduction targets. The initiative confirms on a scientific basis that Siemens Energy’s CO₂ reductions contribute to limiting global warming to the extent stipulated in the Paris Agreement.

The power of being an ally

It’s an everyday occurrence that people are treated less favorably and are discriminated against due to their ethnic origin, gender, religion or ideology, disability, age, or sexual identity. This has to change. 

Our sustainability program

Sustainability is an integral part of our company strategy. Our Sustainability Program focusses on the most relevant topics that help us achieve our ambition to become a sustainability leader in the industry whilst contributing to the United Nations’ Sustainable Development Goals.

 

At the core of the program is the goal to decarbonize energy systems along the entire value chain. Also, at our own operations we aim to continuously improve our performance. 

 

Our businesses, regional entities and central functions will also implement this program. We want to be measured against our goals and performance and have selected strategic KPIs, on which we report in our annual Sustainability Report

Alignment with the United Nations' SDGs

One thing is clear: Business as usual is not an option. It is critical to act now to protect the climate while meeting the growing energy demand.

With a strong and resilient portfolio along significant parts of the energy value chain, we are a partner of choice for our stakeholders and shaper of the energy transition worldwide. While supporting the company purpose “We energize society”, we contribute to most of the United Nations’ Sustainable Development Goals (SDGs) directly or indirectly. To ensure maximum impact, we focus our activities on SDG 5, 7, 8, 9, and 13.

 

 

Ratings

ESG ratings & rankings

The various ratings set different priorities on which they focus, e.g. some prioritize areas such as governance or decarbonization, others focus on the management of ESG risks – which means that the final ratings may vary.

 

 

Rating: In February 2021, Siemens Energy received an ESG Risk Rating of 17.4 and was assessed by Sustainalytics to be at low risk of experiencing material financial impacts from ESG factors.
 

Performance: Siemens Energy’s ESG Risk Rating places it 5th percentile in the Electrical Equipment industry assessed by Sustainalytics.

This publication contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers.

Rating: In April 2021, Siemens Energy received an ESG Performance Rating and was rated B-Prime.

Performance: Siemens Energy’s ESG Performance Rating places it top 20th percentile in the Electrical Equipment industry assessed by ISS ESG.

Rating: In April 2021, Siemens Energy received a rating of BBB (on a scale of AAA to CCC) in the MSCI ESG Ratings assessment.

THE USE BY SIEMENS ENERGY OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES (“MSCI”) DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF SIEMENS ENERGY BY MSCI.  MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED ‘AS-IS’ AND WITHOUT WARRANTY.  MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI. 

Rating: In December 2021, Siemens Energy received CDP Climate Change Rating of B (on a scale of A to D-).

 

Performance: Management level - Taking coordinated action on climate issues.

We also collaborate with customers on platforms to share our sustainability performance with them. These platforms provide standardized questionnaires to assess companies against customers’ ESG requirements.

Rating: In July 2021, Siemens Energy has been awarded a Silver medal by EcoVadis with an overall score of 63 points out of 100.

Performance: Siemens Energy’s Sustainability Rating places it in the top 4% of companies rated by EcoVadis in the Manufacture of general-purpose machinery industry.

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