Siemens
OVERALL |
|
Owned |
GER |
Rating |
 |
Engineering firm
One of the largest electronics and industrial engineering firms in the world.
| Siemens AG | GER | website | ||||
Company Assessment
| PRAISE | CRITICISM | INFORMATION | ||
| Siemens AG | ||||
|
In 2021, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change Score of A-.
Source: CDP (2021)
This company received a score of 85.3/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
Source: Newsweek (2017)
This company received an S&P Global ESG Score of 81/100 in the Industrial Conglomerates category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 7 Feb 2021). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2021)
This company is a Carbon Trust Standard Bearer, signifying they have certified reductions in the environmental impact of their operations and supply chain
Source: Carbon Trust (2021)
InfluenceMap's 2021 A-List of Climate Policy Engagement identifies 15 corporate leaders advocating for ambitious climate policy across a range of sectors and regions. To qualify, a company must exhibit sufficient support for ambitious climate policy, strategic levels of engagement with climate policy, and leadership in its sector. Links to industry associations egregiously opposing climate policy can disqualify a company from the list. The report also offers 21 'Potential Leaders', including his company, which appear to be on the right track.
Source: Influence Map (2021)
In 2021, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to manage and govern freshwater resources. Responding companies are scored on six key metrics: transparency; governance & strategy; measuring & monitoring; risk assessment; targets & goals; and value chain engagement. This company received a CDP Water Security Score of B-.
Source: CDP (2021)
The 2021 Global 100 Most Sustainable Corporations in the World list is an extensive data-driven corporate sustainability assessment. The ranked companies are leaders in the field of a sustainable business approach. The efficiency of a company's energy, water, CO2 and waste management is measured in relation to its total sales volume. The disclosure of that information is a pre-condition for the assessment. Of the 53 companies in its peer group, this company ranked #2.
Source: Corporate Knights (2021) |
This company received a score of 7.3/100 (retrieved 10-Oct-2020) in the Corporate Information Transparency Index (CITI), a system for evaluating supply chain practices in China, particularly in regards to environmental management and water pollution. Scores are calculated using government compliance data, online monitoring data, and third-party environmental audits, as well as trends in the environmental performance of factories in the company's supply chains.
Source: IPE (2020)
The Chinese government has facilitated the mass transfer of Uyghur and other ethnic minority citizens from the far west region of Xinjiang to factories across the country. Under conditions that strongly suggest forced labour, Uyghurs are working in factories that are in the supply chains of at least 83 well-known global brands in the technology, clothing and automotive sectors, including brands owned by this company. The Australian Strategic Policy Institute's 2020 report estimates (somewhat conservatively) that more than 80,000 Uyghurs were transferred out of Xinjiang to work in factories across China between 2017 and 2019, and some of them were sent directly from detention camps.
Source: ASPI (2020)
The 2018 update of the International Campaign to Abolish Nuclear Weapons' (ICAN) global report, "Don't Bank on the Bomb" showed that 329 financial institutions from around the world invested into 20 companies involved in the production, maintenance and modernization of nuclear weapons. Since 2014 this financial institution invested over US$134 million into 1 of the 20 nuclear weapons producers named in the report.
Source: ICAN (2018)
In 2008, following a string of high-profile bribery scandals, Siemens agreed to a record $1.6bn legal settlement with American and European authorities. In 2016 Siemens paid US$43 million in Israel over bribery charges, and in 2015 a former Siemens finance officer admitted to paying $100 million in kickbacks to government officials in Argentina.
Source: The Guardian (2016)
In 2015 an American subsidiary of this company agreed to pay US$5.9 million to resolve an investigation into the overcharging of the federal government for purchases of medical imaging equipment.
Source: US Dept of Justice (2015) |
This company appeared sixth on RepRisk's top ten "most environmentally and socially controversial companies of 2009". Companies on the list were severely criticised during 2009 by the world's media, governments and NGOs. [Listed under Information due to age of report]
Source: RepRisk (2010)
The Poisonous Pearl is a 2016 report by Good Electronics which focuses on the experiences of (former) workers in the electronics industry in China who are victims of chemical poisoning. The health of all the workers in the report was damaged by exposure to hazardous chemicals such as benzene and n-hexane. All were working in large or small factories in the Pearl River Delta-region of China, an area well known as being a global hub for the production of consumer electronics (ICT). This company is supplied by factories in the region.
Source: SOMO (2016)
As listed on the We Mean Business website, this company has committed to the following climate action initiatives: report climate change information in mainstream reports as a fiduciary duty; commit to electric vehicles; commit to smart energy use; commit to 100% renewable power; adopt a science-based emissions reduction target.
Source: We Mean Business (2021)
This company is a member of the Responsible Minerals Initiative (formerly the Conflict-Free Sourcing Initiative), which helps companies address conflict minerals issues in their supply chains. The RMI provides information on conflict-free smelters and refiners, common tools to gather sourcing information, and forums for exchanging best practices on addressing conflict minerals. Membership is open to companies that use or transact in tantalum, tin, tungsten or gold (3TG). Founded in 2008 by members of the Electronic Industry Citizenship Coalition and the Global e-Sustainability Initiative.
Source: RMI (2019)
The United Nations Global Compact asks companies to embrace, support and enact, within their sphere of influence, a set of 10 values in the areas of human rights, labour standards, the environment, and anti-corruption. However it's non-binding nature has been widely criticised, and many signatory corporations continue to violate the Compact's values.
Source: UN Global Compact (2020)
California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.
Source: Modern Slavery Registry (2016) |
||
Company Details
| Type | Public company |
| Revenue | 75.6 billion EUR (2015) |
| Employees | 348,000 (2015) |
| Subsidiaries | Siemens Ltd 
Machinery and Equipment Manufacturing |
Contact Details
| Address | Munich, Germany |
| Website | www.siemens.com |