ABB Publishes Its First Integrated Report
ABB has released its first integrated report, showcasing its 2022 financial and sustainability performance. The report highlights a remarkable 65% reduction in company GHG emissions since 2019 and introduces new mid-term sustainability targets for 2025, aiming for a 70% reduction in its own emissions and a 20% reduction from main suppliers. The report reflects ABB’s commitment to sustainability amidst global challenges, underlining achievements in workplace safety and gender diversity. The integrated report aligns with multiple international standards, providing transparency on its financial and sustainability objectives.
- Achieved a 65% reduction in GHG emissions since 2019.
- Introduced new sustainability targets aiming for 70% reduction in own emissions by 2025.
- Improved workplace safety with a 29% year-on-year decrease in LTIFR.
- Increased gender diversity in senior management from 16.3% to 17.8%.
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Ad hoc Announcement pursuant to Art. 53 Listing Rules of
- Report covers ABB’s 2022 financial and sustainability performance
- New 2025 mid-term sustainability targets for emissions in own operations and suppliers’
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Reduction of company’s own GHG emissions by
65% since 2019
“I am pleased to present ABB’s first integrated report, which explains how our company purpose enables us to drive performance and create value for our stakeholders. The report shows how the various parts of our global company fit together to deliver improved financial results while contributing to a more sustainable society,” said ABB Chairman
New 2025 mid-term sustainability targets launched to improve accountability
Since the launch of its 2030 sustainability strategy in
ABB CEO
To increase accountability, ABB today published new 2025 mid-term targets for the low-carbon society pillar of its sustainability strategy. The targets include:
- Reduce own scope 1 and 2 CO2e emissions by at least 70 percent
- Work with main tier-one suppliers1 to reduce their scope 1 and 2 CO2e emissions by 20 percent
Steady progress towards 2030 sustainability goals
In 2022, ABB reduced greenhouse gas (GHG) emissions in its own operations 42 percent. Since 2019, the company achieved a total emissions reduction of ~65 percent. In addition, ABB helped its customers reduce or avoid GHG emissions through its leading electrification and automation technologies.
ABB also continued to advance on the other three pillars of the strategy. In 2022, it strengthened its circularity approach by defining clear key performance indicators (KPIs) for every stage of the product life cycle, from design to end-of-life. One important initiative was the launch of our EcoSolutions™ label, which provides full transparency into the circularity value and environmental impact of a product, verified by a third party.
When it comes to social progress, ABB improved workplace safety with a 29 percent year-on-year decrease in its lost-time injury frequency rate (LTIFR). The company also increased gender diversity in senior management with a year-on-year increase in the share of women in senior management from 16.3 percent to 17.8 percent, and it also enhanced its human rights due diligence process. In addition, ABB made considerable progress toward its 2030 goal of implementing a comprehensive, risk-based approach to ensure a consistently high standard of integrity across our organization.
Adhering to internationally recognized standards and frameworks
ABB’s integrated report is based on elements of the International Integrated Reporting Framework while the financial statements are prepared in accordance with US GAAP. Sustainability information is provided in accordance with the GRI Standards and also covers the SASB Standards, the TCFD (
The full annual reporting suite including the Integrated Report and Sustainability Report can be accessed and downloaded here.
ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on more than 130 years of excellence, ABB’s ~105,000 employees are committed to driving innovations that accelerate industrial transformation. www.abb.com
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Suppliers covering 70 percent of ABB’s annual procurement spend. |
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Source: ABB
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