Sustainability

We help our customers decarbonize through our energy-efficient solutions and ensure carbon neutrality in our operations.

Progress on our ESG step-change initiatives in 2023:

• Reduced our scope 1 and 2 emissions by 18%, excluding the newly acquired BOCK® Compressors and Semikron.

• Secured long-term PPAs in North America and China, which are expected to result in 75% and 23% reductions in our scope 1 and 2 emissions in each region, respectively.

• Developed decarbonization roadmaps by segment and business
  towards our 2030 target of a 15% reduction of our scope 3 emissions based on the 2019 baseline.

• Committed to the First Movers’ Coalition, in support of emerging climate technologies in hard-to-abate sectors.

We innovate best-in-class circular and safe products.

Progress on our ESG step-change initiatives in 2023:

• Developed the Danfoss Circularity Framework, Sustainable Design Guide, and toolbox, which are ready to be deployed as part of all R&D and new product development processes in early 2024.

We are committed to recruiting a diverse workforce, creating an environment of belonging, retaining our talents, and increasing representation.

Progress on our ESG step-change initiatives in 2023:

• Achieved 75.5% management team diversity, up from 67.4% in 2022.

• Reached 22.1% women in leadership positions, compared to 21.0% in 2022.