"Sustainability is a key element of our strategy. We are a technology company with a unique portfolio that supports our customers in their increasingly demanding ESG ambitions. Today's accelerated targets and significant investments underpin that sustainability is fully integrated into our operations, investment decisions and governance," said Roland Busch, CEO of Siemens AG.

Judith Wiese, Chief People and Sustainability Officer and Member of the Managing Board of Siemens AG: "We strongly believe in technology as a key factor in shaping a sustainable future. Our 360-degree approach to ESG priorities, DEGREE, represents our commitment to a better future where we achieve more with fewer resources. To achieve this, we invest in our portfolio and apply our technologies in our own operations. At the same time, our products and solutions help our customers to achieve their sustainability goals and overcome their specific challenges. This multiplies the impact of our offering for the backbone of the economy and society."

Siemens defines its environmental, social and governance (ESG) goals in the DEGREE strategic framework. The technology company pursues a holistic approach in the six categories of "Decarbonization", "Ethics", "Governance", "Resource Efficiency", "Equity" and "Employability" - with stringent and measurable parameters.

Decarbonization: good progress, new targets and extensive investments

Siemens has made good progress in its own climate protection efforts on the path to_{CO2 neutrality}in its own operations by 2030, reducing 46 percent of its operational_{CO2 emissions} compared to the base year 2019. The company aims to significantly accelerate this reduction path and is introducing an interim target to reduce 55 percent of physical_{CO2 emissions}from its own operations by fiscal 2025 compared to 2019. Siemens is also increasing its ambition in this area and is aiming for a physical_{CO2 reduction} of 90 percent by 2030 instead of 50 percent compared to 2019. To this end, Siemens is investing 650 million euros in its own decarbonization by 2030, primarily through the use of its own technologies.

By committing to the Science Based Targets (SBTi), Siemens is supporting the goal of the Paris Climate Agreement and making a positive contribution to limiting climate change to 1.5 degrees Celsius. In addition, the company has made great progress in the area of resource efficiency, reducing landfill waste by 12% and increasing the proportion of recyclable materials in the total waste volume to 84% in fiscal year 2022. Sustainable employability: investing in the workforce At the same time, Siemens is investing in the people in the company and is committed to lifelong learning, equal treatment and well-being.

In the past fiscal year 2022, each employee completed an average of around 21 digital learning hours, which is around 14 hours more than in the base year 2020. As part of these efforts, Siemens invested €280 million in training and development in the past fiscal year. Due to the great importance of further training and to support sustainable employability, the company is increasing its target for the annual use of digital learning opportunities to 25 digital learning hours by the end of fiscal year 2025.

Sustainability business as the greatest lever for decarbonization and climate protection

Siemens achieves a particularly high impact in environmental protection and decarbonization through the application of its technologies and products at its customers, who represent the backbone of the economy in infrastructure, industry, healthcare and transportation. In the past fiscal year 2022, Siemens again enabled its customers and partners worldwide and in numerous key industries to significantly reduce their_{CO2 emissions} through its innovative technology portfolio. The products and solutions sold to Siemens customers in the past fiscal year will avoid around 150 million tons of greenhouse gas emissions during their lifetime - thirteen times more than the approximately 12 million tons generated during their production in Siemens' own operations and supply chain (Scope 1, Scope 2 and Scope 3 upstream).

Siemens uses an updated methodology based on the GHG Protocol Reporting Standard for downstream Scope 3 emissions to calculate avoided customer emissions for all products and solutions sold in the fiscal year over their entire use phase. Based on this calculation methodology, Siemens increased the_{CO2 reduction}at its customers from 138 million tons to 150 million tons compared to the previous year.