Clear course: Feintool sets out climate roadmap
Sustainability Report 2021
Feintool has defined specific climate targets for the Group: By 2030, the technology group aims to reduce CO2 emissions from its own business activities by 50 percent compared to 2019. Its new sustainability report for 2021, published today, documents further objectives and progress made by the group with regard to Environmental, Social, and Governance (ESG) criteria.
"In the past year, we have made great strides on our path to sustainable corporate development. To this end, we have drawn up a climate roadmap and have also defined specific targets for the strategic areas of human resources and innovation," explains Knut Zimmer, CEO of Feintool. In addition, a global sustainability team, which will report directly to the Executive Board, has been established. The goal of all activities is to create long-term profitable growth for all stakeholders.
"We welcome global efforts to create a sustainable, climate-neutral economy and are making our contribution to this," explains the CEO. For the company, the biggest lever for reducing greenhouse gas emissions is electricity consumption. We have significantly improved our electricity mix in favor of renewable energies, where the share of renewables is currently 40 percent. In addition, numerous environmental projects have been implemented. In 2021, the Group reduced its CO2 emissions despite positive business development which resulted in increased energy consumption. Overall, we achieved savings of around 7,400 tons of CO2 in the energy sector.
This is a good start towards our self-imposed climate goal of halving direct and indirect (Scope 1 and Scope 2) greenhouse gas emissions by 2030 compared to 2019. In Germany, all plants were switched to green electricity at the beginning of 2021. With regards to emissions generated in the supply chain (Scope 3), steel procurement plays an important role. Feintool is dependent on our steel suppliers’ own sustainability efforts. By 2023, an analysis focused on identifying and reducing Scope 3 emissions, especially in the area of steel, will be completed. The Group is working on a corresponding pilot project with a long-standing customer.
For employees, Feintool is implementing a new talent management program this year and has begun to systematically build up a talent pool. In addition, all sites will be certified in accordance with the international ISO 45001 standard on occupational health and safety by 2028.
Feintool is also pursuing a clear course on the product side: by 2030, the market leader in fineblanking, forming, and e-lamination metal stamping will increase the share of sales for CO2-friendly applications to 70 percent. Strategically, Feintool set the course for 2021 through innovation and acquisitions in order to better position itself for continued growth in the future electromobility market.