Siemens Energy secures SBTi verification for emissions reduction targets

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Siemens Energy has announced that it welcomes the verification of its emission reduction targets by the Science Based Targets initiative (SBTi).

SBTi has verified on a scientific basis that Siemens Energy’s CO2 reduction targets comply with the Paris Agreement and thus contribute to limiting global warming to the extent stipulated in the agreement.

A key element of Siemens Energy’s sustainability programme, which was introduced last year, is its target to become climate-neutral by 2030 (scope 1 & 2). The company aims to achieve this by transitioning its own electricity consumption to 100% green energy by 2023 as well as investing in its own operations.

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Moreover, by 2030, greenhouse gas emissions of products (scope 3) in the Gas and Power segment are to be cut by just under a third (27.5%) over a lifetime compared to 2019. To achieve this, the company will continue to promote, among others, increased efficiency of its products.

To make a significant contribution in the decarbonisation of power grids, it will successively switch to SF6-free products. In addition, Siemens Energy already put an end to new business with coal-fired power plants last year.

Dr. Christian Bruch, the CEO of Siemens Energy, said: “We believe that innovative technologies are the key to combating climate change. The energy transition is a big change and challenge but with much potential. We will all have to contribute and accept changes in our environment.”

SBTi is a partnership between the Carbon Disclosure Project (CDP), UN Global Compact, World Resources Institute (WRI) and World Wide Fund for Nature (WWF). The initiative supports companies in establishing scientifically based emission reduction targets. The emission reduction targets of Siemens Gamesa Renewable Energy, a majority stake of Siemens Energy, were already confirmed by SBTi in 2020.