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World 08.02.2024

GEA Achieves Top CDP 'A' Rating for Climate Change Transparency

Source: The DairyNews
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Global environmental non-profit organization CDP has once again bestowed its highest possible rating, an 'A,' upon mechanical engineering company GEA, recognizing its outstanding transparency and performance in addressing climate change
GEA Achieves Top CDP 'A' Rating for Climate Change Transparency
Source: GEA
This marks GEA's third consecutive inclusion in the prestigious CDP A list, an accomplishment achieved by only a sel ect few among the 21,000 companies evaluated.

GEA's commitment to transparency and sustainability is reaffirmed by Chief Sustainability Officer Dr. Nadine Sterley, who states, "Receiving this recognition fr om CDP is another testament that we are successfully transforming our operations, product portfolio, and supply chain. With our Climate Transition Plan 2040, we remain dedicated to transparency and excellence in achieving our goals."

Strategic Climate Goals:
In alignment with its commitment to environmental responsibility, GEA aims to achieve net-zero greenhouse gas (GHG) emissions across its entire value chain by 2040. By 2026, the company targets a 60 percent reduction in GHG emissions from its own activities (Scope 1 and 2). Furthermore, GEA strives for an 80 percent reduction in GHG emissions from its own operations (Scope 1 and 2) and a 27.5 percent reduction in product-related emissions (Scope 3) by 2030. The recent validation of GEA's long-term and upgraded medium-term targets by the Science Based Targets Initiative (SBTi) underscores the credibility of these ambitious goals.

GEA's consistent 'A' score from CDP positions the company as a leader in climate change transparency and sustainability. The significance of CDP scores in driving investment decisions is highlighted by the involvement of over 740 financial institutions with assets exceeding US$136 trillion in 2023. This massive engagement led to responses from a record-breaking 24,000 companies. CDP's detailed methodology, evaluating factors such as disclosure comprehensiveness, environmental risk management, and environmental leadership best practices, emphasizes the importance of setting meaningful targets. GEA's exemplary score stands as a testament to its commitment to transparency, environmental responsibility, and sustainable business practices, company writes.
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February 2024
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