The sustainability strategy of Festo SE & Co. KG is firmly anchored in the corporate strategy and was approved in March 2020. It covers a period of approximately five years and is continuously developed. The chart above shows the current areas of activity. The sustainability strategy will also be realigned in 2024 together with the next period of the corporate strategy. In doing so, we are guided both by our own efforts and by the requirements of the Corporate Sustainability Reporting Directive (CSRD). In particular, the materiality analysis of the CSRD and the assessment of the disclosure requirements to be reported will provide information on the potential need to adapt the sustainability strategy. GRI 2-23, GRI 3-1, GRI 3-2 Climate Protection and Resource Efficiency Chapter 3 Since 2023, we have been pooling our activities and measures to reduce our carbon footprint and use energy, materials, and resources sparingly in the action area of climate protection and resource efficiency. This area of activity is the focus of our sustainability efforts. It includes the updated corporate carbon footprint (CCF) for 2022 and 2023, calculated in accordance with the GHG Protocol (Greenhouse Gas Protocol), and the progress we are making toward reducing our carbon footprint. The reduction plan for Scope 3 with a focus on Scope 3.11 plays a key role here. By joining the Science Based Targets initiative (SBTi), we commit to scientifically sound climate targets in line with the Paris Agreement. For Scope 3.11, which accounts for around 95 percent of Festo’s CCF, an SBTi-compliant reduction plan was drawn up and will be submitted for review by the end of 2024. On the one hand, the reduction plan includes the aspiration to always find the most efficient solution for the respective customer application. On the other hand, it also takes into account the effects of expanding our portfolio to include more efficient products (see section 3.4). We were also able to make progress with regard to Scopes 1, 2, and 3.8 in 2023: since 2024, – two years earlier than planned – the entire Festo Group has been offset in Scope 1 CO2. In addition, we plan to reduce Scope 1 emissions by around 30 percent by 2030 and achieve net zero by 2040. In Scopes 2 and 3.8, the Festo Group has been CO2-neutral since 2024. We are also continuing to invest in energy efficiency measures and the further expansion of photovoltaics (PV). In 2023, photovoltaic systems were installed at a further 20 locations. The total PV capacity installed at Festo has thus been increased by more than 60 percent and now amounts to 13.8 megawatt peak. By the end of 2023, all PV installations worldwide generated 15,651 megawatt-hours of electricity. This avoids 10,600 metric tons of CO2 per year at the plants of the respective electricity suppliers. By 2030, we want to generate around 25 percent of our own power requirements with PV ourselves. In Scopes 3.1 and 3.4, we continued to focus on improving the data quality of our CO2 emissions with regard to the materials we use and, in selected projects, to investigate the use of materials with lower CO2 emissions and the possibility of a circular economy. The same applies to distribution logistics. Here, we continued the systematic conversion of individual products from air freight to sea freight. We were also able to make progress with the product carbon footprint (PCF) in 2023. After testing our approach with pilot customers, it is now available to all customers upon request. A further development is planned for 2024 (for details see chapter 3.3). In addition to our focus on reducing CO2 emissions, which goes hand in hand with the efficient use of resources, we are also continuing our environmental management. At our own locations, we will work on the efficient use of materials and supplies as well as waste reduction and the economical use of water as part of our ISO 14001-certified international environmental management system. Technical Education Chapter 4 The technical education and training of our customers at Festo Didactic is another important pillar of our sustainability efforts. Examples of our activities: – Provide accessible, high-quality technical training with the digital learning portal Festo Learning Experience (Festo LX) – Supporting learning through competitions with numerous activities and inspiring young people to pursue careers in technology – Training in sustainable professions to promote environmentally conscious thinking and enable them to develop eco-friendly innovations. People at Festo Chapter 5 Within this sphere of activity, we will continue to work on the qualification and further development of our employees, the expansion of occupational health and safety promotion, and equality and diversity in the company over the long term. Ethics and Governance Chapter 6 The focus area of ethics and governance focuses on our global compliance management system and the fulfillment of corporate due diligence obligations for human rights. In 2023, we operationally implemented the requirements of the German Supply Chain Due Diligence Act (LkSG) at our suppliers and in our own business units. Our activities in the areas of activity in the 2023 reporting period are also explained in the following chapters using corresponding GRI indicators. The four action areas of our sustainability strategy GRI 2-6, GRI 2-22, GRI 2-23, GRI 3-2 Sustainability Strategy Governance Environment Socialissues Our contribution to the Technical Education People at Festo Ethics and Governance Climate Protection and Resource Efficiency 38 39 1. Blue World 2. Strategy and Management 3. Climate Protection and Resource Efficiency 4. Technical Education 5. People at Festo 6. Ethics and Governance 7. GRI Index 8. Report Profile Festo SE & Co. KG Sustainability Report 2023 Festo SE & Co. KG Sustainability Report 2023
RkJQdWJsaXNoZXIy NzczNDE0