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Our commitments
As a participant of the UN Global Compact, GEA agrees to conduct its business in line with 10 universal sustainability principles encompassing: human rights, labor standards, the environment and anti-corruption. This is reinforced by the group-wide KPIs GEA sets to monitor ESG performance, which are measured according to international standards.
Good corporate governance forms the bedrock of our business and encompasses our commitment to champion the principles of integrity, fairness and compliance. Our engagement with employees, business partners and the general public is defined by care, fairness, transparency, ethical conduct and respect for the interests of all stakeholders. This includes GEA's approach to data and information security, which we take very seriously. We are committed to protecting commercially sensitive information – both our own and what we receive from customers and partners – by guaranteeing the confidentiality, integrity and availability of this information.
GEA commits to net-zero greenhouse gas emissions by 2040
To limit global warming resulting from greenhouse gas (GHG) emissions, GEA has set ambitious climate targets to the Science Based Target initiative (SBTi). Compared to the baseline year 2019, GEA aims to:
- Reduce GHG emissions from its own operations (Scopes 1 and 2) by 60 percent by 2030
- Reduce GHG emissions from the customer use phase of its products (Scope 3) by 18 percent by 2030
- Reduce total value chain GHG emissions (Scopes 1-3) to net zero by 2040
To achieve this, GEA will:
- Increase its share of green electricity to 100 percent over the next couple of years
- Boost energy efficiency throughout its global operations
- Transition its global fleet to electric vehicles
- Review customer ‘use phase’ of its products with a view towards reducing their energy intensity and further develop dedicated resource-efficient products
- Launch a procurement initiative to decarbonize purchased goods and services
GEA is an official supporter of the Task Force on Climate-related Financial Disclosures which works towards creating a more resilient financial system & safeguarding against climate risk through better disclosures. GEA is currently performing a scenario analysis to identify and assess potential risks and opportunities from climate change along the entire value chain for 2030 and 2050. For the analysis of physical risks we build on the RCP 4.5 scenario of the Intergovernmental Panel on Climate Change (IPCC). Transition risks and opportunities are being analyzed based on the Net Zero Emissions by 2050 Scenario and the Stated Policies Scenario of the International Energy Agency (IEA).
Investing in gold standard climate protection projects
GEA has opted to finance offsetting projects until the group can achieve climate-neutrality through its own means. This approach will be used to bridge this transition and in no way diminishes our commitment to science-based targets. Through these projects, GEA has achieved climate-neutrality across its own operations as of January 2021 by supporting clean energy, job creation, education and reduced water consumption in several local communities:
The Initiative Blue Competence
We are Alliance Member of the Sustainability Initiative Blue Competence. Blue Competence is an initiative of the VDMA for promoting and communication of sustainable solutions for the Mechanical Engineering Industry. By using the trademark “Blue Competence”, we commit ourselves to these twelve Sustainability Guidelines of the Mechanical Engineering Industry.