GEA achieves key milestone: Science Based Targets Initiative (SBTi) validates 2040 net-zero target

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 chief executive officer 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.

"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."- Stefan Klebert

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.