ABB Publishes Its First Integrated Report
ABB today published its first integrated report, which highlights progress against the company’s strategy and demonstrates how ABB creates value holistically for its stakeholders in the short-, medium- and long-term. As ABB’s primary report at Group level, this report is aimed at a broad range of stakeholders and integrates the most important material information on the company and its strategy, business, governance as well as its financial and sustainability performance. In addition to the integrated report, ABB’s 2022 annual reporting suite published today includes its Financial Report, Corporate Governance Report, Compensation Report, Sustainability Report as well as the Form 20-F that was filed with the United States Securities and Exchange Commission.
“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 Peter Voser. “It also provides an overview of the external environment in which we are operating and how we intend to meet our targets in the short-, medium- and long-term. Naturally, the report also covers our performance over the past year and it is these achievements that make me most proud and confident in our team’s ability to deliver on our ambitious financial and sustainability targets in the years ahead.”
New 2025 mid-term sustainability targets launched to improve accountability
Since the launch of its 2030 sustainability strategy in November 2020, ABB has made continuous progress toward its goals of enabling a low-carbon society, preserving resources, promoting social progress, and creating a culture of integrity and transparency along the extended value chain.
ABB CEO Björn Rosengren said: “Against the backdrop of a year of crises and setbacks for society, it is clear that ABB’s purpose – to enable a more sustainable and resource-efficient future with our technology leadership in electrification and automation – is more relevant than ever, especially when it comes to tackling climate change.”
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 (Task Force on Climate-Related Financial Disclosures) Recommendations, the EU taxonomy and the 10 principles of the UN Global Compact.
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
Suppliers covering 70 percent of ABB’s annual procurement spend.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230224005040/en/
Phone: +41 43 317 71 11
Phone: +41 43 317 71 11
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Great Hill Partners Expands Presence Internationally with Opening of London Office20.3.2023 12:00:00 EET | Press release
Great Hill Partners, a private equity firm that invests in high-growth, disruptive companies, today announced that the firm has opened a London office to support its strong historical track record of investment activity in the UK and Europe. The London office will serve as Great Hill’s regional hub for the UK and Europe, providing the firm with a dedicated local presence, greater access to investment opportunities, and resources for portfolio companies. Longtime Great Hill Managing Director Drew Loucks will lead the new office and grow the London team. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230320005225/en/ (Photo: Business Wire) “Opening a London office is a natural next step for Great Hill," said Chris Gaffney, Managing Director at Great Hill. “We have more than a decade of experience investing in the UK and Europe, with a large and growing portfolio of international investments. The launch of a London office provi
Cirium Launches the First Airline Routes Tool Based on Satellite-Based Flight Tracking20.3.2023 11:00:00 EET | Press release
Cirium, the aviation analytics leader, has launched the aviation industry’s first Airline Routes tool to identify actual flights flown by aircraft type. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230320005187/en/ Cirium's Airline Routes tool analyzes an airline's routes using satellite-based flight tracking data to identify actual flights flown by aircraft type. (Photo: Business Wire) It uses applied analytics to derive routes flown by airlines based on satellite-based flight tracking and fuses this with advanced fleet data. The new premium Routes tool is part of Ascend Profiles, a visual descriptive analytics tool which enables businesses to quickly view aircraft intelligence by airline or lessor. Businesses such as aircraft lessors, banks or aircraft manufacturers are empowered to identify the aircraft flown by route for 1,700 airlines and factor development opportunities or risk into their decision making. By leveragi
2023 Harbin Ice & Snow Expo Was Successfully Held on March 17-1920.3.2023 10:55:00 EET | Press release
The 2023 Harbin Ice & Snow Expo, themed on "seeking development in the new paradigm and promoting the revitalization with ice and snow economy", was successfully held from 17 to 19 March in Harbin. It was hosted by Harbin Municipal People's Government, co-organized by CCPIT Harbin Committee and Beijing Zhenwei Exhibition Co., Ltd., and supported by Harbin Municipal Bureau of Culture, Radio, Television and Tourism. The Expo boasted a total exhibition area of 23,800 sqm, with 14 theme exhibition areas and nine international pavilions. Over 500 exhibitors in the ice-snow industry from 19 countries and regions, such as China, Canada, Iceland, France, Russia, Spain, etc., attended the event on online and offline platforms. Decathlon, POMA, Sany, XCMG, X-bionic, SUNAC SNOW PARK, HEILONG, Q.M.XUE LONG, Bombardier, Haxinlong Machinery, Fenlan Xuedong, Zhongcheng Technology, IWEIER STAR TECHNOLOGY, Ding Hongxin Sports Technology, TERROR, ADVANTURER and others showcased over 3,000 ice-snow exhib
Blackstone Announces Opening of New Office in Frankfurt, Germany20.3.2023 10:46:00 EET | Press release
Blackstone (NYSE: BX), the world’s largest alternative asset manager, today announced that it will open a new office in Frankfurt, Germany. The new flagship location will occupy 1,300 square meters in the OMNITURM in Frankfurt’s financial district and serve as a hub for Blackstone in Germany. The new office will host professionals across Blackstone’s private equity, real estate, and credit businesses, in addition to providing a hub for Blackstone’s private wealth solutions business, which serves investment professionals and individual investors across Europe. Juergen Pinker, Senior Managing Director, will lead on Private Equity, with Jurij Puth, Senior Managing Director, leading on Credit. Blackstone has been an active and significant investor in Germany for more than two decades, with currently more than 7,000 people employed by its portfolio companies in the country. To date, the firm has been involved in transactions worth more than €17 billion in Germany. The opening of the new off
Guardforce Security Adopts Hytera Push-to-talk to Improve Operational Efficiency20.3.2023 05:00:00 EET | Press release
Hytera Communications (SZSE: 002583), a leading global provider of professional communications technologies and solutions, has been providing Guardforce Security Thailand with its newest Push-to-Talk over Cellular (PoC) radios and Hytera HyTalk software suite to facilitate nationwide instant group communications and better team collaboration among Guardforce staff. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230314006104/en/ Guardforce security personnel on duty with Hytera PoC radios (Photo: Business Wire) Guardforce Thailand is a major security company that supplies technology-driven security solutions to a wide range of clients across Thailand, including banks, government organizations, retailers, shopping malls, hotels, airports, and enterprises. It currently employs approximately 5,000 security personnel nationwide across its three divisions. The security provider used to rely on analog two-way radios for communicati
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom