GEA achieves key milestone: Science Based Targets initiative (SBTi) validates 2040 net-zero target
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The Science Based Targets initiative has validated GEA’s 2040 net-zero target. The SBTi thus confirms that GEA's commitments are in line with the latest climate science and will make an effective contribution to achieving the 1.5 degree target.
Climate action pioneer
GEA achieves key milestone: Science Based Targets initiative (SBTi) validates 2040 net-zero target
Duesseldorf (Germany), January 25, 2024 – The Science Based Targets initiative has validated GEA’s 2040 net-zero target. This is based on a scientifically validated assessment of the climate targets and the associated reduction measures. The SBTi validation confirms that GEA’s pathway to net zero is consistent with the Paris Climate Agreement.
“We are proud of the validation by the SBTi,” said CEO Stefan Klebert. “This shows that we are taking a pioneering role in climate action, because our net-zero pathway is not just ambitious but also in line with latest climate science.”
“The SBTi validation of our net-zero target puts GEA at the forefront of the mechanical engineering sector,” says Chief Sustainability Officer Dr. Nadine Sterley. “To achieve our climate targets, we have drawn up a comprehensive Climate Transition Plan 2040. This sets out how we will further accelerate the transformation of our operations, our product portfolio and our supply chain.”
GEA’s Climate Transition Plan 2040 specifies timings, the measures to be implemented as well the investments needed to achieve the net-zero target. The detailed Climate Transition Plan will be presented in March 2024. At the next Annual General Meeting on April 30, 2024, GEA plans to hold an advisory vote by shareholders on the Climate Transition Plan 2040 – the first of its kind within the DAX Index family of companies.
GEA Climate targets
In December 2023, GEA announced its upgraded climate targets.
Short-term target 2026:
Reduction in GHG emissions from our own operations (Scope 1 and 2) by 60 percent by 2026. This target was originally set for 2030.
Medium-term targets for 2030:
Reduction in GHG emissions from our own operations (Scope 1 and 2) by 80 percent (previously: 60 percent reduction) by 2030. Reduction in product related GHG emissions (Scope 3) by 27.5 percent (previously: 18 percent reduction) by 2030.
Long-term target 2040: net zero.
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Contact Media Relations GEA Group Aktiengesellschaft Anne Putz Peter-Müller-Str. 12, 40468 Düsseldorf, Germany Phone +49 211 9136-1500 anne.putz@gea.com
GEA Group Aktiengesellschaft Lilian Schmalenstroer Peter-Müller-Str. 12, 40468 Düsseldorf, Germany Phone +49 211 9136-2090 lilian.schmalenstroer@gea.com
About GEA GEA is one of the world's largest suppliers of systems and components to the food, beverage, and pharmaceutical industries. The international technology group, founded in 1881, focuses on machinery and plants, as well as advanced process technology, components, and comprehensive services. With more than 18,000 employees working across five divisions and 62 countries, the group generated revenues of more than EUR 5.1 billion in fiscal year 2022. GEA plants, processes, components, and services enhance the efficiency and sustainability of production processes across the globe. They contribute significantly to the reduction of CO2 emissions, plastic usage, and food waste. In doing so, GEA makes a key contribution toward a sustainable future, in line with the company’s purpose: "Engineering for a better world".
GEA is listed in the German MDAX and the STOXX® Europe 600 Index and is also among the companies comprising the DAX 50 ESG and MSCI Global Sustainability and the Dow Jones Sustainability Europe Indices.
More information can be found online at gea.com.