4.1 Climate action Targets Our commitment to climate protection is also reflected in the D Decarbonization field of action Decarbonization in our DEGREE sustainability Progress on DEGREE ambition #1: framework. Net Zero operations by 2030, Our 1.5°C Science-Based Target with 55% emissions reduction by 2025 By joining the Science-Based Targets initiative (SBTi), and 90% by 2030 Siemens has pledged to reduce emissions from its own Compared to fiscal 2022, we reduced our Scope 1 and operations (Scope 1 and 2) by 50% and its value chain Scope 2 emissions in 2023 by 32 thousand metric (Scope 3) by 15% by 2030 compared to 2019. Our commit- tons of CO2e or 8%. We reduced our Scope 1 and ment to the SBTi is aimed at aligning our business activities Scope 2 emissions by a total of 50% since fiscal 2019. with the 1.5°C decarbonization pathway under the terms of This reduction is primarily due to the rigorous imple- recognized climate models to ensure that our greenhouse mentation of a number of measures and initiatives, gas emissions will be consistent with the Paris Climate which are briefly described below. Agreement’s 1.5°C target. RE100: 80% renewable electricity for Siemens Decarbonization targets for our own operations EV100: 11% electric vehicles at Siemens Our Net Zero 2030 pledge EP100: There are currently 33 Siemens sites with no We have expanded our ambitions beyond the scope of our net CO e emissions during regular operations 2 validated Science-Based Target and shortened our timeline Progress for decarbonization: As part of our DEGREE sustainability FY 19: 737 kt CO e – 50% – 55% by 2025 framework (without Siemens Healthineers), we set a goal for 2 – 90% by 2030 all Siemens production facilities and buildings worldwide and our vehicle fleet to achieve a Net Zero1 carbon footprint Emissions reduction as part of the by 2030. In effect, this means reducing CO e Scope 1 and 2 Net Zero 2030 program 2 (in 1,000 metric tons of CO e for Siemens without SHS) emissions in Siemens’ business operations for Siemens without 2 Siemens Healthineers (SHS) by 90% by 2030, compared to 2019. To achieve this target, Siemens has pledged to invest an additional €650 million in its own decarbonization efforts to by 2030. Any residual emissions will then be balanced with 2019 to – 50% 2019 high-quality carbon offsets that meet established standards. 737 – 55% to 2019 402 – 90% To drive additional transparency on our journey to 2030, we 370 332 set an ambitious interim reduction target for our business - 75 operations at Siemens without SHS of 55% by 2025 com pared to 2019. –75 FY FY FY FY FY By joining the RE100 initiative in 2021, we reinforced our 2019 2022 2023 2025 2030 commitment to a transition to 100% renewable energy by Emissions Carbon offsets 2030 at the latest. As part of our commitment to EV100, we are striving to completely convert our motor vehicle fleet to Siemens without SHS electric vehicles by 2030. Our EP100 pledge strengthens our commitment to only own or lease buildings that have no net CO2e emissions by 2030. 1 Siemens defines Net Zero as reducing CO e emissions by 90% and compensating any 2 residual emissions in the Net Zero target year and any CO e emissions thereafter with high-quality carbon offsets. 2 SIEMENS SUSTAINABILITY REPORT 2023 59