Siemens Gamesa has become the only wind turbine manufacturer to receive an S&P environmental social and governance (ESG) evaluation, achieving a score of 83 out of 100.
The score places the company second place in Spain and number 12 in the world among public ESG evaluations.
These results demonstrate Siemens Gamesa’s commitment to the green energy transition, which is outlined by S&P in its ESG Evaluation.
It stated: “The ESG Evaluation of 83 reflects our view of Siemens Gamesa as a key player is supporting the systematic decarbonisation of the energy system and providing products to industry-wide challenges such as the recycling of blades, which it was the first to achieve through the manufacture of the world’s first recyclable rotor blade for commercial use offshore.”
S&P also indicates in its ESG evaluation that “Siemens Gamesa is well prepared to benefit from growing demand in the renewable energies sector” and that it “benefits from its unique position that enables the company’s robust research and development capacity, which will support its investment in cutting-edge technological solutions.”
The evaluation refers to the launch of the Mistral programme and S&P stated: “We expect it will allow the company to remain in its leadership position and deliver sustainable and profitable growth through innovation, productivity and quality standards.”
S&P’s ESG evaluation analyses a company’s performance in terms of environmental, social and governance risks and opportunities.
These three areas are analysed in S&P’s report about Siemens Gamesa and the company has scored high in all three.
In the social profile, S&P ESG Evaluation indicated that “Siemens Gamesa’s workforce strategy centers on empowering employees to innovate and improving gender diversity, which is stronger than the wind turbine manufacturers average”.
In the governance area, the report highlighted that “Siemens Gamesa’s values framework is robust and meets global standards” and also that the company’s “financial and non-financial disclosures are in line with international best practices”.
Siemens Gamesa chief financial officer Beatriz Puente said: “We are very happy to be evaluated for the second time by S&P Global’s ESG Evaluation and again receive a high score, of 83/100, positioning the company as #2 in Spain and #12 in the world, which shows our strong and continuous commitment to environmental, social and governance topics.
“Corporate ESG evaluations are contributing to a greater sustainable finance product offering and allowing companies with good ESG performance to obtain lower financing costs and also access ESG-focused investors.”