4.3 Product stewardship 4.3 Product stewardship – Increase relevant product families for Robust Eco Design – Increase coverage rate of Robust Eco Design approach across relevant product families. We focus on resource efficiency – Significant increase of lifecycle assessment (LCAs) over a product’s entire lifecycle Management approach Our governance and policies for product At Siemens, we are aware that product design has far-reaching stewardship effects on nature and our environment. As a market leader The Environmental Protection department is responsible for and technology pioneer in many fields, we take a keen interest planning, preparing, organizing, and implementing rules in the long-term impacts of our portfolio. Ensuring the and regulations for product stewardship. It aims to ensure environmental compatibility of our products, systems, consistency, transparency, implementation, and compliance solutions, and services is a key priority. with regulatory frameworks within its areas of responsibility and reviews their effectiveness. Extracting and processing finite resources contribute to as much as 90% of global biodiversity loss and approximately With our Ecodesign approach, we aim to contribute to climate 1 50% of global CO e emissions . Both of these consequences protection at our customer sites and increase dematerialization 2 can impact the composition, resilience, productivity, and through our circularity approach and our digital portfolio carrying capacity of natural and managed ecosystems as elements. CLIMATE ACTION COMPANY PROFILE well as people’s livelihoods. In 2023, the global economy was only 7.2% circular, meaning that just 7.2% of all material Fundamental Ecodesign approaches at Siemens include inputs into the economy were secondary materials.2 increased resource efficiency and decarbonization during production, higher productivity and efficiency during use, As such, we aim to reduce the environmental impact of our and product designs that support circularity. In accordance products, systems, solutions, and services as early as the with the international standards IEC 62430 Environmentally design phase and minimize the need for raw material Conscious Design for Electrical and Electronic Products, extraction. Our Ecodesign approach considers relevant eco- ISO 14006, and ISO 14009, Siemens applies the Robust Eco logical factors during product planning and design, because Design (RED) approach. The Ecodesign Appendix, which is a this phase determines up to 80% of a product’s lifecycle mandatory component of Siemens’ Environmental Protection 3 We also address these challenges Standard, provides a framework for assessing and determining environmental impact. through various initiatives: for instance, our Tech for Sus- a product’s environmental impact throughout all phases of tainability Bootcamp 2023, Ecodesign learning programs, its lifecycle. It also provides a framework for the environmen- and our Sustainability Business portfolio. tally compatible design of products, systems, solutions, and 1 IRP (2019). Global Resources Outlook 2019: Natural Resources for the Future We Want. (Global Resources Outlook | Resource Panel). 2 https://www.circularity-gap.world/2023. 3 Ecodesign your future: How Ecodesign can help the environment by making products smarter. Publications Office of the European Union (https://op.europa.eu/en/ publication-detail/-/publication/4d42d597-4f92-4498-8e1d-857cc157e6db). SIEMENS SUSTAINABILITY REPORT 2023 71