GF publishes its 20th Sustainability Report: accident rate and energy consumption decrease significantly
Today, GF published its Sustainability Report 2020. This marks GF's 20th year of transparent reporting on ESG (environmental, social, and governance) matters. Sustainability plays a key role in the company's Strategy 2025 through a focus on three areas.
Sustainability is an integral part of GF's corporate culture as well as its business: in 2020, 58% of GF's products and solutions benefited society or the environment, thus helping customers around the world on their way to a more sustainable future. During the same period, GF also reduced its accident rate by over 40%, and decreased its energy and water consumption in relation to production volume by 12% and 40%, respectively.
Three areas of focus and ambitious goals
GF's Sustainability Goals 2025 focus on three areas: product portfolio, climate and resources, and people and well-being. Long-term goals were defined for each area:
- The product portfolio focuses on innovative products and solutions that ensure a sustainable life cycle. By 2025, GF aims to generate 70% of sales from products and solutions with social or environmental benefits.
- GF strives to decouple resource consumption from business growth in order to reduce its environmental footprint. Among other things, the goal is to reduce the absolute CO2e footprint by 12.5% by 2025.
- The company also wants to offer a diverse, motivating and safe workplace: one goal in this area is to achieve a 30% reduction in the accident rate by 2025.
GF CEO Andreas Müller says: "In 2022, GF will announce a comprehensive climate target that is in line with the Paris Agreement and the Science Based Targets initiative (SBTi). We will disclose not only the climate change-related risks, but more importantly, will also identify the resulting opportunities to further align our business model for an even more sustainable future." The company intends to publish its first report in accordance with the guidelines of the Task Force on Climate-related Financial Disclosures (TCFD) by 2022, he says. "These important elements will enable GF to realize its vision of being a leader in the areas of innovation and sustainability while providing its customers with high-quality solutions," adds Andreas Müller.
The full version of the GF Sustainability Report 2020 is available at https://sustainability-report.georgfischer.com/20/en/.
GF publishes its 20th Sustainability Report: accident rate and energy consumption decrease significantly
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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.