INNIO's 2022 Sustainability Report Demonstrates the Company's Continuous Progress Toward Attaining Its Sustainability Goals
- INNIO's ESG program is defined by set targets around three sustainability pillars: Low Carbon and Circular Products, Resilient Supply Chain and Manufacturing, and Responsible Operations and Social Responsibility
- INNIO made measurable improvements around its ESG goals in 2022 while increasing factory output, expanding its workforce, and maintaining its strong financial performance
- The 2022 Sustainability Report has been independently verified to adhere to the Global Reporting Initiative (GRI) standards
JENBACH, Austria, June 14, 2023 (Newswire.com) - INNIO, a leading energy solution and service provider, has published its Sustainability Report for 2022. Making progress together is the third in INNIO's annual cycle of non-financial disclosures.
The report demonstrates INNIO's progression since establishing its baseline goals, showcasing sustainable initiatives, projects, and corresponding metrics. It provides details of INNIO's strong financial performance in 2022, its increased factory output, and its workforce expansion. The report demonstrates INNIO's progress across all three clearly defined sustainability pillars:
Low Carbon and Circular Products — enabling customers in the process of decarbonizing energy and enhancing opportunities in responsible use of resources through reclaiming, remanufacturing, and reuse of products
Resilient Supply Chain and Manufacturing — decarbonizing INNIO's own operations and value chains and enhancing opportunities in smart energy management, efficiency of processes, and investment in climate neutral energy sources such as green hydrogen
Responsible Operations and Social Responsibility — using INNIO's compass in strengthening collaboration with societies, growing a diverse and inclusive workspace, and maintaining high health and safety standards as well as a culture of good governance, business ethics, and transparency
INNIO set out ambitious sustainability targets in the above three strategic areas where it sees the most material impacts and opportunities for improvement. With a dedicated focus on sustainable procurement, the report highlights how INNIO's approach is rooted in tangible actions. Since the first edition of the report, published in 2020, INNIO has continued to build a track record of progress to meet its sustainability targets.
"I am very proud of the teams for the achievements we made in 2022 around reduced energy intensity, increased share of renewables in our operations, increased gender diversity, and robust ESG practices," said Dr. Olaf Berlien, president and CEO of INNIO. "Results from the hard work and commitment of our employees worldwide are evident in our progress."
"The report is more than simply a showcase for INNIO's ESG metrics," said Marcin Kawa, VP Group Sustainability at INNIO. "It is an instrumental communication platform and tool to building stakeholder engagement in a transparent and structured way. In Making progress together, we transparently describe the status of our ESG journey as well as our goals and ambitions and, most importantly, demonstrate the progress we made and the challenges we resolved to continue to reach our sustainability goals."
The report's "Progress and Performance" section as well as its KPI tables lay out how the collaborative approach enables the energy transition and decarbonization. Additionally, INNIO dedicated a section of its 2022 Sustainability Report to sustainable procurement activities, initiatives, policies, and programs as well as collaboration with suppliers. INNIO's goal is to further build a transparent, resilient, and near-zero emissions value chain.
About INNIO's 2022 Sustainability Report
This non-financial disclosure is a comprehensive overview of INNIO Group Holding GmbH's Environmental, Social, and Governance (ESG) strategy. INNIO has followed the well-recognized Global Reporting Initiative (GRI) structure to outline and communicate on its progress. In doing so, INNIO aims to provide our stakeholders with information in a structured, standardized, and transparent format.
This Sustainability Report has been externally assured. KPMG Austria GmbH Wirtschaftsprüfungs und Steuerberatungsgesellschaft has performed an independent limited assurance engagement on the combined consolidated non-financial report ("NFI report") for the financial year 2022. INNIO continues to be top-rated by both EcoVadis (Platinum medal) and Sustainalytics (rated number 1 in our industry). For more information, access INNIO's Sustainability Report 2022 here.
INNIO is a leading energy solution and service provider that empowers industries and communities to make sustainable energy work today. With our product brands Jenbacher and Waukesha and our digital platform myPlant, we offer innovative solutions for the power generation and compression segments that help industries and communities generate and manage energy sustainably while navigating the fast-changing landscape of traditional and green energy sources. INNIO is individual in scope, but global in scale. With our flexible, scalable, and resilient energy solutions and services, we enable our customers to manage the energy transition along the energy value chain wherever they are in their transition journey.
INNIO is headquartered in Jenbach (Austria), with other primary operations in Waukesha (Wisconsin, U.S.) and Welland (Ontario, Canada). A team of more than 4,000 experts provides life-cycle support to the more than 55,000 delivered engines globally through a service network in more than 100 countries.
INNIO's improved ESG Risk Rating again secures the number one position across more than 500 companies globally in the machinery industry assessed by Sustainalytics.
Source: INNIO Group