GEA recognized by CDP with ‘A’ score for transparency on climate change
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GEA recognized by CDP with ‘A’ score for transparency on climate change
Düsseldorf, February 6, 2024 – GEA scores an ‘A’ for its transparency and performance on climate change by global environmental non-profit organization CDP. This marks the third time in a row that the mechanical engineering company has been included in CDP’s A list, which is the highest possible rating. According to CDP, GEA is only one of a small number of companies that achieved an ‘A’ – out of 21,000 companies scored.
“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.
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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
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.
About CDP
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 740 financial institutions with over $136 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 24,000 organizations around the world disclosed data through CDP in 2023, with more than 23,000 companies – including listed companies worth two thirds global market capitalization - and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.