Siemens Gamesa Gets High Score in ESG Ratings

Published on: 27 July 2022
by KnowESG
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Siemens Gamesa is the only manufacturer of wind turbines to receive an S&P environmental, social, and governance (ESG) review, scoring 83 out of 100.

The score places the company in second place in Spain and 12th globally in terms of public ESG evaluations. These findings reflect Siemens Gamesa's commitment to the green energy transition, as highlighted by S&P in its ESG Evaluation.

It stated: “The ESG Evaluation of 83 reflects our view of Siemens Gamesa as a key player in supporting the systematic decarbonisation of the energy system and providing products to industry-wide challenges such as the recycling of blades, which it was the first to achieve through the manufacture of the world’s first recyclable rotor blade for commercial use offshore.

“Siemens Gamesa is well prepared to benefit from growing demand in the renewable energy sector” and that it “benefits from its unique position that enables the company’s robust research and development capacity, which will support its investment in cutting-edge technological solutions.”

The evaluation refers to the launch of the Mistral programme, and S&P stated: 

“We expect it will allow the company to remain in its leadership position and deliver sustainable and profitable growth through innovation, productivity, and quality standards.” 

The ESG evaluation by S&P evaluates a company's performance in terms of environmental, social, and governance-related risks and opportunities. The company received top marks in all three.

S&P ESG Evaluation highlighted in the social profile that Siemens Gamesa's workforce strategy focuses on enabling people to innovate and increasing gender diversity, which is stronger than the norm for wind turbine manufacturers.

In corporate governance, the report emphasised that Siemens Gamesa's values framework is robust and meets worldwide standards and that the company's financial and non-financial disclosures are consistent with international best practices.

Siemens Gamesa chief financial officer Beatriz Puente said: 

“We are very happy to be evaluated for the second time by S&P Global's ESG Evaluation and again receive a high score, of 83/100, positioning the company as #2 in Spain and #12 in the world, which shows our strong and continuous commitment to environmental, social, and governance topics.

“Corporate ESG evaluations are contributing to a greater sustainable finance product offering and allowing companies with good ESG performance to obtain lower financing costs and also access ESG-focused investors.”

Source: reNEWS.BIZ

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