Press Releases - 26.07.2023
Rating agency Morningstar Sustainalytics gives Techem an ESG risk rating of 8.7 – “Negligible Risk” in terms of material financial impact from ESG factors
Techem Group reduces energy consumption by 5.7 and CO2-emissions by 2.2 percent compared to the previous year
Eschborn, 26 July 2023 - For its third sustainability report published today, Techem, a service provider for smart and sustainable buildings, has adjusted its sustainability targets based on a double materiality approach in line with the European Sustainability Reporting Standards (ESRS). For the internationally active Techem Group, sustainability and consistent climate protection begin first and foremost within the company itself. Techem has therefore set itself the goal of reducing at least 90 percent of its emissions by 2045. In fiscal year 2022, Techem’s global CO2-footprint amounted to emissions of around 306,800 tons of CO2e (=CO2-equivalent; taking all greenhouse gases into account) (FY 2021: 313,800 tons). Compared to the previous year, this represents a reduction of 2.2 percent and, with regard to energy consumption, even of 5.7 percent. The largest share - just under 51 percent (FY 2021: 59 percent) - comes from natural gas consumption in the heat contracting business of Techem Solutions, which is included in Scope 1. These greenhouse gas emissions are directly related to the properties supplied by Techem Solutions or the heating systems in place, the behavior of the occupants and the outside temperature. The crises of the past year and the warm winter contributed significantly to the reduction in the figures.
Energy efficiency as a central lever for CO2-reduction
“The Paris climate agreement sets a clear target: limiting global warming to 1.5 degrees Celsius. Many extreme weather situations around the world have reminded us of the urgency of this goal over the past year. The latest synthesis report by the Intergovernmental Panel on Climate Change also shows that climate change is progressing faster and with more devastating consequences than previously assumed - unless we act swiftly and across sectors,” said Techem CEO Matthias Hartmann. “At Techem, our emissions are strongly linked to our customers’ asset portfolio and in this way are closely linked to meeting the climate targets of the entire building sector. In order to achieve our reduction targets, we make climate-neutral offers to our customers and have laid down concrete measures in our decarbonization plan,” adds Matthias Hartmann. These include low-emission heat or power supplies in new buildings and optimizing plant operation by equipping them with digital remote-readable metering systems, as well as converting the property portfolio to hybrid heating systems. Measures regarding a circular design of Techem equipment or the company’s own use of 100 percent green electricity at office locations are also included. These approaches and targets come together in the decarbonization plan, based on the Net-Zero standard of the Science Based Targets Initiative (SBTi).
Analyses and assessments confirm low ESG risks
In 2023, Techem identified climate-related risks and opportunities taking the recommended approach of the TCFD based on two climate scenarios into account. In addition, a pre-screening of suppliers for potential human rights and environmental risks has already been carried out. To minimize risks in the information security of customer and company data, the energy service provider has also opted for independent certification to ISO 27001. Annual monitoring audits are performed to check all systems and processes for potential weaknesses. In addition, at the beginning of the year, Techem received an outstanding rating of 8.7 – “Negligible Risk” - as part of an ESG risk rating by the Sustainalytics rating agency, currently placing it in the top 2 percent of over 15,200 international companies.
On the way to a diverse and inclusive company
Techem’s employees play an equally important role in achieving these goals. To promote diversity, equality and inclusion, among other things, 35 percent of management positions across the Group are to be filled by women by 2025. All managers have also undergone mandatory training to reinforce an inclusive mindset in the corporate culture. In addition, a guideline for diversity and against discrimination has been in place for the entire Techem Group since the beginning of the year. The company is also a signatory to the United Nations Diversity Charter and established a second advisory board to the Beyond Gender Agenda at the beginning of the year.
Fields of action and sustainability program
The internationally active Group, which this year for the first time is reporting in accordance with the standards of the Task Force on Climate-Related Financial Disclosures (TCFD), bundles its sustainability activities along the ESG criteria (Environmental, Social, Governance). These are assigned to seven fields of action that Techem focuses on. Together, they form the framework of the company’s sustainability program, which is aligned with clear targets and key figures. Of these, a large number have been externally audited according to the standards of the Global Reporting Initiative (GRI). Techem thus ensures the effective implementation of its sustainability strategy worldwide and makes its corporate commitment transparent to its stakeholders. Centrally located in the CEO department headed by Matthias Hartmann, sustainability is anchored as a cross-cutting issue throughout the company.
More information on sustainability at Techem can be found on the website.
About Techem
Techem is a leading service provider for smart and sustainable buildings. The company's services cover energy management and resource conservation, residential health and process efficiency in real estate. Founded in 1952, the company is now active in 18 countries with around 4,300 employees and services more than 13 million homes. Techem offers efficiency improvements along the entire value chain of heat and water in real estate. As the market leader in remote radio detection of energy consumption in homes, Techem continues to drive networking and digital processes in real estate. Modern radio smoke detectors with remote inspection and services related to improving drinking water quality in properties complement the solution portfolio for the housing industry. For more information, visit www.techem.com/corp/en.
