Science Based Targets Initiative (SBTi) confirms Siemens Energy’s CO2 reduction targets

As one of the world’s leading energy technology companies, Siemens Energy welcomes the
verification of its emission reduction targets by the renowned Science Based Targets initiative
(SBTi). SBTi has verified on a scientific basis that Siemens Energy’s CO2 reduction targets comply
with the Paris Agreement and thus contribute to limiting global warming to the extent stipulated in
the agreement.
A key element of Siemens Energy’s sustainability program, which was introduced last year, is its
target to become climate-neutral by 2030 (scope 1 & 2). The company aims to achieve this by
transitioning its own electricity consumption to 100 percent green energy by 2023 as well as
investing in its own operations.
Moreover, by 2030, greenhouse gas emissions of products (scope 3) in the Gas and Power segment
are to be cut by just under a third (27.5%) over lifetime compared to 2019. To achieve this, the
company will continue to promote, among others, increased efficiency of its products. To make a
significant contribution in the decarbonization of power grids, it will successively switch to SF6-free
products. In addition, Siemens Energy already put an end to new business with coal-fired power
plants last year.
Dr. Christian Bruch, Chief Executive Officer of Siemens Energy, says: “We believe that innovative
technologies are the key to combating climate change. The energy transition is a big change and
challenge but with much potential. We will all have to contribute and accept changes in our
environment.”
SBTi is a partnership between the Carbon Disclosure Project (CDP), UN Global Compact, World
Resources Institute (WRI) and World Wide Fund for Nature (WWF). The initiative supports companies
in establishing scientifically based emission reduction targets.

The emission reduction targets of Siemens Gamesa Renewable Energy (SGRE), a majority stake of
Siemens Energy, were already confirmed by SBTi in 2020. For more information, please read the
following press release: https://www.siemensgamesa.com/…
press-release-sbti-carbon-emissions