from Progress-Werk Oberkirch AG (isin : DE0006968001)
PWO Group Achieves Decarbonization Milestone Ahead of Schedule
EQS-News: PWO AG / Key word(s): Sustainability/ESG
PWO Group Achieves Decarbonization Milestone Ahead of Schedule
26.02.2024 / 11:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
Press release
PWO Group Achieves Decarbonization Milestone Ahead of Schedule
Carlo Lazzarini (CEO): “Our sustainability strategy is having an impact. After just 4 years, we have surpassed our 2030 targets for reducing greenhouse gas emissions ahead of schedule. This means that we are reducing our carbon footprint faster than the 1.5-degree pathway envisages.”
Oberkirch, February 26, 2024 – The PWO Group is continuing along its path of decarbonization with great success. We surpassed the targets to which we committed ourselves in line with the Science Based Targets initiative (SBTI) ahead of schedule. With a clear focus on our responsibility to future generations and the protection of our planet, we have made significant progress in reducing our greenhouse gas (GHG) emissions.
SBTi targets achieved ahead of schedule
Within the framework of the SBTi, we committed to reducing our absolute GHG emissions in Scope 1 and 2 by 46.2% and in Scope 3 by 28.0% by 2030 compared to the base year 2019. But now, seven years ahead of the planned deadline, we are proud to announce that not only did we meet these targets ahead of schedule but, at -51.0%, also surpassed the Scope 1 and 2 target by some considerable margin. This underlines our determination to do our bit to mitigate global warming.
Success factor: sustainable action as a strategic goal
Acting sustainably is both an obligation and an opportunity for PWO, which is why we have embedded it in our corporate strategy. The fact that we achieved our SBTi targets ahead of schedule while continuing to grow the Group proves the effectiveness of our strategy.
Key factors behind this success include a comprehensive electrification of all processes, the consistent use of green electricity, a continuous improvement of energy efficiency and the stringent implementation of energy savings. Positive competition within the PWO Group has also proven to be particularly effective. This allows us to develop new procedures and processes on a regular basis at individual locations that contribute to the decarbonization of our business activities and that we then roll out globally. In this way, we are making an overall contribution to a greener future.
PWO AG
The Executive Board
Contact:
Charlotte Frenzel
Investor Relations & Corporate Communications
T. +49 179 6904 237
M. charlotte.frenzel.ext.ma@pwo-group.com
PWO Group: Pushing boundaries in lightweight metal solutions
1,200 PRODUCT SOLUTIONS | 3,000 EMPLOYEES | 9 LOCATIONS | OVER 100 YEARS OF EXPERIENCE
We are a global company in the mobility industry that is helping to shape the environmentally friendly mobility of the future through innovations and is entirely independent of combustion engines.
With our expertise in climate-friendly lightweight construction, we are technology leaders and combine economic efficiency with sustainability. We develop and produce sophisticated metal components and complex subsystems at the frontiers of what is technologically feasible. We meet the challenges of our time with innovative and sustainable concepts. And above all, we aim to seize the opportunities they offer.
As a values-based employer with informal structures at a global level, we offer our employees a meaningful environment for realizing their personal prospects. Transparent and responsible corporate governance is an integral part of our self-image.
Our corporate strategy is summed up in the slogan PEOPLE. PLANET. PROGRESS.
26.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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| Language: | English |
| Company: | PWO AG |
| Industriestraße 8 | |
| 77704 Oberkirch | |
| Germany | |
| Phone: | +49 (0)7802 84-844 |
| Fax: | +49 (0)7802 84-789 |
| E-mail: | ir@pwo-group.com |
| Internet: | www.pwo-group.com |
| ISIN: | DE0006968001 |
| WKN: | 696800 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange |
| EQS News ID: | 1844935 |
| End of News | EQS News Service |
1844935 26.02.2024 CET/CEST