87% renewable electricity via PPAs backed by GO/REC certificates; aiming for 100% in 2-3 years Siegfried has concluded a significant proportion of sustainable power purchase agreements (PPAs) and currently achieves ~87% renewable electricity in 2024 (up from 70.7% in 2023). PPAs are backed by site-specific Guarantee of Origin (GO) certificates or Renewable Energy Certificates (REC). Solar panel installations went online in 2024 in Malta and Evionnaz. As part of its SBTi commitment, Siegfried is aiming at sourcing 100% of its electricity from certified renewable sources within the next 2-3 years.
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Tightened Scope 1+2 reduction goal via SBTi Previous commitment was 50% sales-normalized Scope 1+2 reduction by 2030. New SBTi-aligned target is 66.89% absolute reduction by 2033 from 2020 base — stronger and absolute rather than intensity-based.
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Scope 1 boundary expanded to include cooling agent losses Losses of cooling agents newly included in Siegfried's reporting for additional transparency and as part of SBTi climate target validation efforts. Air emissions other than CO2 contribute ~1.04% to overall GWP in 2024.
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Scope 1 and Scope 2 data restated for 2022 and 2023 Due to alignment with SBTi requirements, Scope 1 figures for prior years were restated (typically within 5% margin). Scope 2 footprint corrected by an average of +4.5 kT CO2eq per year due to purchased steam correction at Minden site.
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2023 waste figures restated due to conversion error Total Waste and Total Hazardous Waste figures for 2023 restated due to an undetected conversion error (1306 metric tons instead of 9049 metric tons originally).
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Acquired Siegfried Grafton (Wisconsin, USA) in Q3 2024 Newly acquired site in Grafton, Wisconsin added ~85 employees. Non-financial reporting excludes Grafton in most KPIs as it was acquired in Q3 2024.
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SDG alignment: 3, 4, 5, 6, 8, 12 Siegfried prioritizes SDGs 3 (Good Health) and 12 (Responsible Production) as core; additionally contributes to SDGs 4 (Education), 5 (Gender Equality), 6 (Water), and 8 (Decent Work).
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EcoVadis: company moved from Bronze to Silver All Siegfried sites recognized with silver or gold medal status by EcoVadis; Siegfried as a company moved from Bronze to Silver status in 2024.
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Dependent: Supplier engagement on Scope 3.1 (purchased goods) Purchased goods and materials (Scope 3.1) are by far the biggest contributors to Siegfried's global carbon footprint. As part of SBTi commitment, Siegfried proposes to bring 85% of Scope 3.1 emissions into the SBTi framework by 2029 through direct supplier engagement. Includes green chemistry-driven process optimization to reduce solvents and alternative sourcing of lower-carbon raw materials.
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SBTi near-term and net-zero targets submitted for validation (Nov 2024) Siegfried submitted near-term and net-zero SBTi targets in November 2024. Near-term: reduce absolute Scope 1+2 GHG by 66.89% by 2033 from 2020 base; 85% of suppliers (by emissions, purchased goods) to have SBTs by 2029; Scope 3 fuel/energy, upstream transport and waste -32.5% by 2033 from 2022. Net Zero by 2050 with 90% Scope 1+2 reduction and 90% Scope 3 reduction from 2022.
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