4.1 Climate action 4.1 Climate action – Our pledge: We are making a contribution to limiting With global temperatures rising, we are committed to help global warming to 1.5°C mitigate climate change. At the same time, Siemens is – Our targets: To reduce emissions from business assessing climate-related risks and opportunities and poten- operations at Siemens without SHS by 55% by 2025 tial measures for adapting to climate change in order to and by 90% by 2030 ensure business continuity and functioning supply chains. – Net Zero operations by 2030 and in our supply chain by 2050 Our climate-protection governance and policies – Our path: Continuous reduction of emissions from Climate-related issues are managed as part of our environmen- business operations, collaboration with suppliers, tal protection management. HOLISTIC ENVIRONMENTAL PROTECTION and a portfolio that helps our customers protect the environment For climate protection, the Environmental Protection depart- ment supports our businesses in their efforts to reduce CO2e emissions in their operations. The Supply Chain Management Management approach department helps our business units promote decarboniza- At Siemens, we recognize the urgency of climate protection. tion in the supply chain at our suppliers and through our It is our top priority to contribute to the objectives set out in material purchases. Our business units are responsible for the Paris Agreement, which includes the goal of limiting reducing their respective emissions. The Sustainability global warming to 1.5°C above preindustrial levels. As a department is responsible for the consolidated Siemens GHG global technology company, we acknowledge that our reporting and our Net Zero Operations Program and defines activities along the value chain – including procurement, the necessary management and GHG reporting approaches. product design, production, and the use of our products and services – generate greenhouse gas (GHG) emissions (here- For our approach to and governance for managing climate- after CO2e emissions). This is contributing to a global tem- related risks and opportunities, please see our reporting on perature increase and other irreversible changes to our TASK FORCE ON CLIMATE­RELATED FINANCIAL DISCLOSURES (TCFD). planet and ecosystems. We have pledged to aim to make an important contribution The Siemens portfolio is simultaneously supporting the to the decarbonization of the global economy. We aim to transition to a low-carbon economy. We are doing this by reach this goal with the assistance of an appropriate gover- focusing on automation and digitalization, smart infrastruc- nance structure, including strategy and risk management, ture for buildings with decentralized energy systems and and by acting in accordance with the recommendations of charging solutions, and intelligent transportation solutions. the Task Force on Climate-Related Financial Disclosures For instance, our energy-efficient products and solutions can (TCFD). Our commitment to the initiatives RE100 (COMPLETE support the transition from fossil fuels to renewable energy CONVERSION TO RENEWABLE ELECTRICITY), EV100 (CONVERSION OF THE sources, and our electrification solutions enable renewable VEHICLE FLEET TO ELECTRIC VEHICLES), and EP100 (NET ZERO EMISSION grid integration and the electrification of heat and hydrogen. BUILDINGS) further supports us in our efforts to achieve our This also creates more business opportunities for Siemens. decarbonization targets. SIEMENS SUSTAINABILITY REPORT 2023 58