Measurement technology firm WIKA showcased its first Environmental, Social, and Governance (ESG) report at the Hannover Messe in April, two years ahead of the legal mandate.
The ESG report outlines WIKA’s objectives and past initiatives across three key areas of sustainability: ecology, economy, and social welfare. Emphasising climate protection measures, workplace enhancement initiatives, employee growth and retention strategies, the report aligns with the internationally recognised “Global Reporting Initiative” (GRI) standard.
“The publication of our first ESG report is a clear commitment to our responsibility towards the environment and society,” said Alexander Wiegand, CEO of the WIKA Group.
“Our aim is not only to achieve progress, but also to make it visible and comprehensible.”
Beyond minimising its own environmental footprint, WIKA says it also aims to assist customers in advancing their sustainability agendas.
In the report, the company outlines several of its initiatives in the area of sustainability, including its Power Unit project, which aims to enable decentralised energy supply with hydrogen.
As part of the project, stationary fuel cell systems convert hydrogen – or biogas/biomethane – into electricity and heat and supply the energy required on site.
WIKA supports the project by developing special instruments for pressure and temperature measurement.
Within the report, WIKA also discloses its CO2e (carbon dioxide equivalent) emissions, which totalled around 293,955 tonnes during the 2023 reporting year.
According to the Group, the majority of its greenhouse gas emissions are generated through scope 3 activities such as purchased goods and services, capital goods, fuels and other energy-related activities, upstream transport and distribution, waste and more.
WIKA also aims to accelerate the switch to emission-free production by developing new solutions in the areas of heating, ventilation and air conditioning systems and hydrogen.
Initiatives within the ‘social’ aspect of WIKA’s ESG strategy include the safeguarding of human rights, actively promoting health and training and further education.
The report reveals that employees spent an average of 12.1 hours in 2023 on training and further education.
“The report features individual projects from all over the world and illustrates our sustainability endeavours,” added Wiegand.
Originally adopted in November 2022, the Corporate Sustainability Reporting Directive (CSRD) mandated sustainability reporting for EU businesses from 2024.
Having recently approved a two-year delay, the European Council has postponed the implementation of ESRS for the sector specific standards requirement of the CSRD until 2026.
