Feintool reaches ESG targets amidst growth.

Feintool is right on target with its sustainability goals: Even with the integration of the Kienle+Spiess Group last year, the proportion of renewable energies in the electricity mix was kept constant at around 40 percent. With targeted measures, the company managed to reduce annual energy consumption by 4 200 megawatt hours (MWh). Sales attributed to CO2-friendly product applications climbed to more than 50 percent. All information about Feintool’s progress in ESG (environmental, social, governance) and innovation can be found in the new Sustainability Report 2022 (SA), which was published today.

“We are committed to being part of the solution in the movement to a low-carbon economy,” says Feintool CEO Torsten Greiner. As early as 2021, the technology group set itself concrete targets in the areas of environment, employees, innovation, and governance, some of which have already been met (see SR p. 8). By 2030, the company aims to halve its direct self-generated greenhouse gas emissions (Scope 1 and 2). Compared with the base year 2019, these emissions have fallen by a total of 24 percent to date. During the current year, Feintool will further define the reduction path for Scope 1 and Scope 2 emissions to be reached by 2030

New: Analysis of the steel supply chain

For Feintool, the greatest potential for the transformation to climate-neutral production lies in the sourcing of steel for parts production – in other words, in the supply chain. This is because fossil fuels are (still) used in steel manufacturing. It is here, in the supply chain, that the so-called Scope 3 emissions occur, which – as with many other companies – account for the lion’s share of total emissions in Feintool’s carbon footprint. However, the scope for influencing both upstream suppliers and downstream customers is limited until the end of a product’s life cycle.

In a first step to quantify Scope 3 emissions related to the raw material steel, Feintool has identified and analyzed the corresponding upstream and downstream supply chains (see SR, p. 10- 13). The next step is to calculate the emissions and develop approaches for reduction. In any case, the climate-related transformation process creates attractive opportunities for Feintool not only in the automotive industry but also in wind power and other industrial applications such as heat pumps.

The full Sustainability Report 2022 is available at www.feintool.com/en/company/sustainability/. It is based on the current, internationally leading standards of the Global Reporting Initiative (GRI). All key figures can be found at www.feintool.com/newsroom/.