GEA’s 2040 net-zero target validated by Science-Based Targets initiative

Companies & MarketsNews
February 19, 2024

February 19, 2024

GEA, Düsseldorf, Germany, has reported that the Science Based Targets initiative (SBTi) has validated its 2040 net-zero target, confirming that GEA’s plan is in line with the Paris Climate Agreement. The assessment is based on a scientifically validated evaluation of the climate targets and the corresponding reduction measures.

“We are proud of the validation by the SBTi,” said Stefan Klebert, CEO. “This shows that we are taking a pioneering role in climate action, because our net-zero pathway is not just ambitious but also in line with latest climate science.”

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Dr Nadine Sterley, Chief Sustainability Officer, added, “The SBTi validation of our net-zero target puts GEA at the forefront of the mechanical engineering sector. To achieve our climate targets, we have drawn up a comprehensive Climate Transition Plan 2040. This sets out how we will further accelerate the transformation of our operations, our product portfolio and our supply chain.”

GEA’s Climate Transition Plan 2040 specifies timings, the measures to be implemented as well as the investments needed to achieve the net-zero target. The detailed Climate Transition Plan will be presented in March 2024. At the next Annual General Meeting on April 30, 2024, GEA plans to hold an advisory vote by shareholders on the Climate Transition Plan 2040 – the first of its kind within the DAX Index family of companies.

In December 2023, GEA announced upgraded climate targets, aiming for net zero by 2040. Its short-term target of reducing GHG emissions by 60% has moved forward from 2030 to 2026. In terms of medium-term targets, the company intends to reduce GHG emissions by 80% by 2030, with a reduction in product-related GHG emissions by 27.5%.

GEA offers a range of patented spray drying solutions designed for processing metal powders. These include compact, single-line spray drying plants of any desired capacity. Its own nozzle and rotary atomiser technology allows it to cover a wide size range.

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Companies & MarketsNews
February 19, 2024

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