2021 Sustainability Report 'Together Towards Zero' outlines INNIO's ESG targets, frameworks, and 2021 performance, which was recognized with best-in-class ratings from Sustainalytics and EcoVadis earlier this year. (Graphic: Business Wire)
- INNIO’s ESG strategy focuses on Low Carbon and Circular Products, Resilient Supply Chain and Manufacturing, and Responsible Operations
- INNIO receives best-in-class sustainability ratings from Sustainalytics and EcoVadis
- INNIO joins the UN Race to Zero and Science Based Targets, extending collaboration with pre-eminent global climate and ESG initiatives as well as industry partnerships
JENBACH, Austria, June 23 (Bernama-BUSINESS WIRE) -- INNIO, a leading energy solution and service provider, has published its Sustainability Report for 2021 Together Towards Zero, which defines the company’s performance in meeting environmental, social, and governance (ESG) goals. While INNIO is currently empowering industries and communities to transition to net zero, this report – prepared in accordance with GRI and SASB standards – formally communicates on progress and sustainability-related performance providing, transparency about how INNIO is contributing to a green tomorrow.
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Earlier this year, Sustainalytics ranked INNIO number one out more than 500 companies, meaning it has the lowest risk within the machinery industry assessed (Rating of 11 “Low risk level”). In addition, INNIO received the Gold Medal from EcoVadis, placing its Jenbacher business in the top 1% of industry peers. Last year, INNIO became signatory of the Science Based Targets initiative and the United Nations ‘Race to Zero’ campaign, that brings together global leadership for a healthy, resilient, and zero-carbon future.
In accordance with global frameworks and commitments, INNIO set out ambitious sustainability targets in three strategic focus areas where it sees the most material impacts and opportunities for improvement: Low Carbon and Circular Products, Resilient Supply Chain and Manufacturing, and Responsible Operations and Social Responsibility.
Selected key ambitions in these areas include:
In accordance with global frameworks and commitments, INNIO set out ambitious sustainability targets in three strategic focus areas where it sees the most material impacts and opportunities for improvement: Low Carbon and Circular Products, Resilient Supply Chain and Manufacturing, and Responsible Operations and Social Responsibility.
Selected key ambitions in these areas include:
- Since 2022, INNIO offers all new engines with a “Ready for H2” option. These models can operate with up to 20% vol. hydrogen1, and can be retrofitted to 100% H2 operation in the future. All Type 4 series engines are offered for 100% H2 operations. As of 2025 and beyond, the entire Jenbacher product line is expected to be rolled out with 100% hydrogen operation.
- Suppliers covering 80% of direct and indirect spend must commit to net zero by 2050.
- 50% reduction in Scope 1 and Scope 2 GHG emissions in supply chain and manufacturing (vs. the 2020 base) will be fully implemented by 2030.
- By 2025, identified diversity groups will increase by 25% across functions compared to the 2020 baseline. Diverse people leadership will be developed further by 20302.
Dr. Olaf Berlien, chief executive officer at INNIO, states:
“I’m incredibly proud of the steps we have taken to implement our ESG strategy. The outstanding recognition we have received for our achievements with leading ESG ratings shows that we are on the right track on our path to net zero.”
Marcin Kawa, vice president Sustainability at INNIO, states:
“INNIO’s 2021 Sustainability Report summarizes a year filled with sustainability and ESG initiatives, collaboration, and progress. “This report is the next milestone in our journey as we move ‘Together Towards Zero.’ I’m happy to be part of a team that is so passionate about making a difference while building transparency and trust among our stakeholders worldwide.”
* Rating took place in February 2022
About INNIO’s 2021 Sustainability Report
INNIO’s 2021 Sustainability Report is a non-financial disclosure published annually. This 2021 disclosure was prepared in accordance with the standards of the Global Reporting Initiative (GRI) core option and the Sustainability Accounting Standards Board (SASB). It also includes an initial analysis in line with the Task Force on Climate-related Financial Disclosures (TCFD) Recommendations Framework. The report also serves as Communication on Progress (COP) for the UN Global Compact (UNGC). Through non-financial reporting, INNIO describes its management and performance of environmental, social, and governance (ESG) issues. INNIO’s disclosures focus on the topics that have been deemed most material to the business based on a materiality assessment. INNIO’s alignment with the United Nations Sustainable Development Goals (UN SDGs) is based on the GRI and the UNGC’s Business Reporting on the UN SDGs. This Sustainability Report has been externally assured. The data presented in the report is consolidated at Group level and covers 100% of business operations and 90% of global locations. This boundary applies to all material topics, unless clearly indicated otherwise. All the health, safety, and environmental data, including greenhouse gas (GHG) data for Scope 1, Scope 2, and Scope 3, cover the INNIO Group using the financial control approach.
For more information, access INNIO’s Sustainability Report 2021 here.
About INNIO
INNIO is a leading energy solution and service provider that empowers industries and communities to make sustainable energy work today. With our product brands Jenbacher and Waukesha and our digital platform myPlant, INNIO offers innovative solutions for the power generation and compression segments that help industries and communities generate and manage energy sustainably while navigating the fast-changing landscape of traditional and green energy sources. We are individual in scope, but global in scale. With our flexible, scalable, and resilient energy solutions and services, we are enabling our customers to manage the energy transition along the energy value chain wherever they are in their transition journey.
INNIO is headquartered in Jenbach (Austria), with other primary operations in Waukesha (Wisconsin, U.S.) and Welland (Ontario, Canada). A team of more than 3,500 experts provides life-cycle support to the more than 54,000 delivered engines globally through a service network in more than 80 countries.
INNIO’s ESG Risk Rating places it number one of more than 500 worldwide companies in the Machinery industry assessed by Sustainalytics.
For more information, visit INNIO’s website at www.innio.com. Follow INNIO on Twitter and LinkedIn.
1 Defined in accounting protocol as either sold with the capacity to run on 100% hydrogen or that can be upgraded at a reasonable cost
2 We will focus on distinct employee groups and diversity dimensions (age, gender, nationality, and minorities) when implementing diversity initiatives. For more information, please visit page 78 in our report.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20220622006063/en/
Contact
Susanne Reichelt
INNIO Media Relations
+43 664 80833 2382
susanne.reichelt@innio.com
Source : INNIO
“I’m incredibly proud of the steps we have taken to implement our ESG strategy. The outstanding recognition we have received for our achievements with leading ESG ratings shows that we are on the right track on our path to net zero.”
Marcin Kawa, vice president Sustainability at INNIO, states:
“INNIO’s 2021 Sustainability Report summarizes a year filled with sustainability and ESG initiatives, collaboration, and progress. “This report is the next milestone in our journey as we move ‘Together Towards Zero.’ I’m happy to be part of a team that is so passionate about making a difference while building transparency and trust among our stakeholders worldwide.”
* Rating took place in February 2022
About INNIO’s 2021 Sustainability Report
INNIO’s 2021 Sustainability Report is a non-financial disclosure published annually. This 2021 disclosure was prepared in accordance with the standards of the Global Reporting Initiative (GRI) core option and the Sustainability Accounting Standards Board (SASB). It also includes an initial analysis in line with the Task Force on Climate-related Financial Disclosures (TCFD) Recommendations Framework. The report also serves as Communication on Progress (COP) for the UN Global Compact (UNGC). Through non-financial reporting, INNIO describes its management and performance of environmental, social, and governance (ESG) issues. INNIO’s disclosures focus on the topics that have been deemed most material to the business based on a materiality assessment. INNIO’s alignment with the United Nations Sustainable Development Goals (UN SDGs) is based on the GRI and the UNGC’s Business Reporting on the UN SDGs. This Sustainability Report has been externally assured. The data presented in the report is consolidated at Group level and covers 100% of business operations and 90% of global locations. This boundary applies to all material topics, unless clearly indicated otherwise. All the health, safety, and environmental data, including greenhouse gas (GHG) data for Scope 1, Scope 2, and Scope 3, cover the INNIO Group using the financial control approach.
For more information, access INNIO’s Sustainability Report 2021 here.
About INNIO
INNIO is a leading energy solution and service provider that empowers industries and communities to make sustainable energy work today. With our product brands Jenbacher and Waukesha and our digital platform myPlant, INNIO offers innovative solutions for the power generation and compression segments that help industries and communities generate and manage energy sustainably while navigating the fast-changing landscape of traditional and green energy sources. We are individual in scope, but global in scale. With our flexible, scalable, and resilient energy solutions and services, we are enabling our customers to manage the energy transition along the energy value chain wherever they are in their transition journey.
INNIO is headquartered in Jenbach (Austria), with other primary operations in Waukesha (Wisconsin, U.S.) and Welland (Ontario, Canada). A team of more than 3,500 experts provides life-cycle support to the more than 54,000 delivered engines globally through a service network in more than 80 countries.
INNIO’s ESG Risk Rating places it number one of more than 500 worldwide companies in the Machinery industry assessed by Sustainalytics.
For more information, visit INNIO’s website at www.innio.com. Follow INNIO on Twitter and LinkedIn.
1 Defined in accounting protocol as either sold with the capacity to run on 100% hydrogen or that can be upgraded at a reasonable cost
2 We will focus on distinct employee groups and diversity dimensions (age, gender, nationality, and minorities) when implementing diversity initiatives. For more information, please visit page 78 in our report.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20220622006063/en/
Contact
Susanne Reichelt
INNIO Media Relations
+43 664 80833 2382
susanne.reichelt@innio.com
Source : INNIO
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