Voith Group publishes Sustainability Report 2023

One focus of Voith's sustainability strategy is to improve resource efficiency. In the 2022/23 reporting year, energy consumption fell by 8.5 % compared to 2021/22, freshwater consumption decreased by 6.6 % and waste volume decreased by 11.3 % (all figures in relation to sales). In addition, the focus continued to be on climate protection: In the past financial year, greenhouse gas emissions at the global sites were reduced by around 13 % compared to the previous year.

To further advance the reduction of greenhouse gas emissions, Voith has realigned its climate protection strategy and committed to the Science Based Targets initiative (SBTi) in January 2024. Linked to this is the definition of science-based climate targets in accordance with the Paris Climate Agreement. "I am certain that we can advance climate protection more effectively and more sensibly with our own ideas and resources," explains Voith CEO Dr. Toralf Haag.

Also in January 2024, Voith joined the world's largest initiative for sustainable and responsible corporate governance, the United Nations Global Compact. In doing so, Voith is committing itself to the ten globally applicable principles of the Global Compact, including in the areas of human and labor rights, diversity, and anti-corruption. "The entire Voith Corporate Board of Management has pledged to make sustainability the foundation of all its strategic decision-making and to consistently drive forward our sustainability activities worldwide," says Dr. Toralf Haag.

Voith regularly uses external ratings to measure its own sustainability performance. In 2023, after 2021 and 2022, the independent rating agency ISS ESG once again rated Voith B ("good") and for the sixth time in a row with "Prime" status. This makes Voith one of the best mechanical engineering companies in the world when it comes to sustainability.

In its sustainability strategy, Voith also relies on solutions from all three Group Divisions that support customers in achieving their environmental and climate protection goals:

In this way, Voith Hydro makes an important contribution to a stable and low-emission power supply with hydropower. This also includes the development of solutions that make hydropower even more sustainable. The main starting points are fish protection, water quality and energy efficiency. For example, a compact turbine developed by Voith can be operated entirely without oil, so that no lubricant gets into the water flow.

With its solutions, Voith Paper promotes resource-saving and climate-friendly paper production. Among other things, through a special water management system that allows completely closed water cycles, reducing the amount of wastewater to 0 liters, and cutting carbon emissions by around 10 %.

Voith Turbo supports the climate-friendly mobility of the future with efficient drive solutions. This includes an electrical drive system for city and intercity buses as well as medium-duty trucks. Last year, it was awarded the
Environmental Technology Prize of the Baden-Württemberg Ministry of the Environment, Climate Protection and the Energy Sector. To ensure environmentally friendly mobility, Voith is also focusing on alternative drive solutions in the field of hydrogen. The most recent example is the founding of "Voith HySTech GmbH" in April of this year, which focuses on hydrogen storage systems for heavy-duty vehicles.

Further information can be found in the Voith Sustainability Report 2023, which is available for download here.