12/02/2020 – News / Machinery / Technology / Food Processing / Environment / Climate / GEA
GEA now on climate benchmark ‘A-list’ of Carbon Disclosure Project
GEA – one of the world’s largest technology suppliers for food processing – has scored its best result to date in the climate assessment of the Carbon Disclosure Project (CDP). With an overall score of A-, the Group now meets the criteria for the leadership level and thus ranks amongst the leaders in the sectoral and regional benchmark.
The leadership level is awarded to companies that excel in terms of factors such as the completeness and transparency of their reporting. Furthermore, such firms demonstrate approaches to managing the opportunities and risks associated with climate change and highlight progress in reducing emissions.
Released just ahead of the World Economic Forum’s annual meeting in Davos, the 2019 CDP report gives an A or A- score to a total of nine companies from Germany in the general sector, to which GEA belongs. Across all sectors, 23 German companies have achieved such a score. In contrast, the average score of European companies in the CDP ranking is C.
A decade of disclosure
“GEA has been reporting its data to the Carbon Disclosure Project for more than 10 years. The 2019 result is attributable to our ongoing efforts to further optimise not only our products, but also our own production in order to conserve resources and reduce greenhouse gases,” advised Stefan Klebert, CEO of GEA Group Aktiengesellschaft.
“The ranking in the leadership level is an excellent achievement for GEA in this context, especially given that CDP’s requirements on climate risks and opportunities through CO2 reductions become more stringent every year,” he continued.
“In addition to the environmental aspects, a good score in the CDP ranking is particularly significant from an investor perspective, since this project is supported by more than 500 institutional investors that have combined assets of almost US$100 trillion under management. But even for customers, initiatives that question companies on risks and opportunities relating to the climate, as well as on the CO2 reduction potential, are taking on increasing importance,” Mr Klebert explained, adding: “An overall score of A- does not, however, give us any reason to become complacent. As one of the largest providers of process technology, we are aware of our responsibility for taking a leading role in solving the challenges of the future.”
CDP: Driving climate protection
According to its own information, the CDP is the largest organisation driving climate protection around the world. On behalf of its members, the CDP annually surveys thousands of the largest listed companies on their emissions and climate protection strategies to this end.
The CDP Score Report allows companies to document their commitment to the environment and the measures they have taken to combat climate change. In addition, the CDP provides a way for the companies surveyed to benchmark themselves against others in the region and in the sector, and investors also receive a copy of the CDP report.
The scoring level (disclosure, awareness, management, leadership) shows the degree of the company’s environmental responsibility as well as measures and approaches it takes to combat climate change. The overall rating assigns a score from A to F (with F demonstrating insufficient data to provide a score).
Certainly, CDP data shows investors and purchasers are calling for transparency and action from companies on how they are responding to climate change. In 2019, more than 525 investors with US$96 trillion in assets and 125 major purchasers with US$3.6 trillion in procurement spend requested companies to disclose through CDP. 8,400 companies responded – a 20-per-cent increase on the previous year.
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