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Commitment to net zero: GF takes next step in its sustainability journey

In a significant step on the path to become a sustainability and innovation leader, GF today announced its ambition to reach net-zero greenhouse gas (GHG) emissions by 2050. Within the next 24 months, GF will define net-zero targets in line with the 1.5-degree trajectory recommended in the Paris Agreement.

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GF has submitted its commitment letter to the Science Based Targets initiative (SBTi), a corporate climate action organization that enables companies worldwide to set emission reduction targets in line with the Paris Agreement goals. With this letter, GF is pledging to set and submit net-zero targets for Scope 1, 2 and 3 emissions across its four divisions within two years. The letter has been validated by SBTi.

“With our innovative products and solutions, we have been supporting our customers in their own sustainability needs for decades,” said Andreas Müller, GF CEO. “Today, we expand our own focus to 2050 and join the commitment to net zero, aiming to become a role model for how companies can decouple business growth from emissions.”

Environmental sustainability is integral to GF’s long-term strategy. Committing to net zero builds on GF’s Sustainability Framework 2025, which has included SBTi-approved greenhouse gas (GHG) emission reduction targets since 2022. In 2023, GF made significant progress towards achieving these targets, reducing its Scope 1 and 2 emissions by 35% compared with the 2019 baseline. To reach net zero, companies must cut more than 90% of their emissions before 2050.

Aiming for net zero in the company’s own operations by 2050 will rely on an even higher use of renewable energy sources, which requires investing in existing machines and infrastructure, and further fostering self-generation of renewable electricity. However, the majority of GF’s GHG impacts (87%) today are from Scope 3 emissions, which occur in the upstream and downstream sections of the company’s value chain. Already in 2023, GF pursued several opportunities to initiate reduction measures in its value chain, including identifying material substitutions, analyzing its procurement categories with the highest impact on CO2e emissions, engaging with key suppliers seeking reduction opportunities and increasing efficiency in its logistics services. In addition, the company has further improved the energy consumption of some of its machines delivered to customers by adding energy efficiency features.

More information about GF’s sustainability strategy and progress in 2023 are available in the recently published GF Sustainability Report 2023.


 

Company Info

GF Casting Solutions Leipzig GmbH

Georg-Fischer Str. 2
04249 Leipzig
Germany

Telephone: +49 341 4823132

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