Key milestone achieved: SBTi validates GF’s science-based targets

 

GF today announced that the Science-Based Target initiative (SBTi) has validated its science-based targets to reduce the company’s greenhouse gas (GHG) emissions along its value chain.

Schaffhausen, November 2, 2022

By 2026, GF commits to reducing absolute scope 1 and 2 GHG emissions by 30 %. The company also commits to reducing by 2030 scope 3 GHG emissions from purchased goods and services, and from the use of sold products by 34.6 % per tonne of processed material, both targets measured against 2019 as a base year. These targets are fully aligned with the Paris Agreement to limit global warming to 1.5°C.

“The SBTi validation marks an important milestone in our journey to become a sustainability and innovation leader,” said Andreas Müller, CEO of GF. “Working closely with our suppliers and customers, we are leading the way forward in our industry in mitigating the impact of climate change. The focus on the reduction of GHG emissions offers us also attractive business opportunities.”

To deliver on its ambitious targets, GF will accelerate key GHG-reduction measures. All three divisions have put in place roadmaps to support both the company’s own targets, as well as those of the customers in their sustainability journeys – for example, raising the amount of bio-based or recycled materials used in their products, supporting reduction of CO2e emissions with lightweight components for e-cars and improving the energy efficiency of equipment and machines. In addition, as highlighted in its Sustainability Report 2021, GF continues to increase the use of renewable energy in its facilities.

For more information, see the SBTi website

Corporate Profile

GF – with its three divisions GF Piping Systems, GF Casting Solutions, and GF Machining Solutions – offers products and solutions that enable the safe transport of liquids and gases, as well as lightweight casting components and high-precision manufacturing technologies. As a sustainability and innovation leader, GF strives to achieve profitable growth while offering superior value to its customers for more than 200 years. Founded in 1802, the Corporation is headquartered in Switzerland and present in 34 countries with 139 companies, 61 of which are production facilities. GF’s 15’111 employees worldwide generated sales of CHF 3’722 million in 2021. More information is available at www.georgfischer.com