GF earns top climate and water rating

Published
April 02, 2024 - 09:30am
GF Machining Solutions

GF said it has has secured an “A” score, the highest possible, by the global rating agency CDP for transparency and performance on climate change, after the company was awarded an “A-” for three consecutive years.

For its ambitions around water security, GF has maintained its previous rating of “A-”. 

CDP released its assessment of more than 21,000 companies and GF was one of 346 companies that received an “A” rating for climate change. GF was praised for identifying and sharing information on risks that could significantly affect the business, either financially or strategically.

For its ambitions around water security, GF has received an “A-” rating for the fourth consecutive year in a row.

Environmental disclosure serves as a crucial measure for organizations to address present and future opportunities, as well as risks linked to climate change and water security.

“Earning a place on CDP’s A List marks an important milestone in our journey to become a sustainability and innovation leader and shows the progress we made as a company to enhance transparency on our environmental impact,” said Mads Joergensen, GF CFO. “This is a tremendous result and I wish to thank our teams around the world for their efforts to tackle climate change and increase water security.”

GF has implemented several measures worldwide to reduce greenhouse gas emissions and energy consumption, for example by investing in the purchase and self-generation of renewable electricity, as well as in energy-efficient buildings by improving lights and insulations. GF is also increasingly capturing and re-using heat from production processes and using water in closed-loop cooling cycles.

Since 2012, GF has been reporting environmental data to CDP, a London-based non-profit that holds the largest environmental database on carbon emissions and water consumption in the world.

The CDP 2023 reporting cycle covers activities from full-year 2022. Initiatives to curb the negative effects of climate change and secure the availability of water are at the core of GF's Sustainability Strategy and its Sustainability Framework 2025. GF will release its Sustainability Report 2023 as part of the Corporate Reports 2023 on 19 March 2024.

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