GEA Recognized by CDP with ‘A’ Score for Transparency on Climate Change
Image source: GEA Group Aktiengesellschaft
“Receiving this recognition from CDP is another proof point that we are on the right path in the transformation of our operations, our product portfolio and our supply chain,” says Chief Sustainability Officer Dr. Nadine Sterley. “With our Climate Transition Plan 2040, we are continuing on our trajectory of transparency and performance in reaching our goals.”
GEA is committed to achieving net-zero greenhouse gas (GHG) emissions along its entire value chain by 2040. By 2026, GEA aims to reduce its GHG emissions from its own activities (Scope 1 and 2) by 60 percent. In the medium term, GEA expects to cut its GHG emissions from its own operations (Scope 1 and 2) by 80 percent and product-related emissions (Scope 3) by 27.5 percent by 2030. The Science Based Targets Initiative (SBTi) recently validated GEA’s long-term goals as well as its upgraded medium-term targets.
CDP scores are widely used to drive investment decisions
In 2023, over 740 financial institutions with over US$136 trillion in assets requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 24,000 companies responded. A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provide insufficient information are scored an F.
Source: GEA Group Aktiengesellschaft
