2023 Sustainability Report demonstrates INNIO Group’s unrelenting progress toward ESG goals
Illustrating the progress made since first establishing baseline sustainability goals, INNIO Group has published its Sustainability Report for 2023, “Making progress together.“ The fourth in the company's annual cycle of non-financial disclosures, the report showcases sustainable initiatives, projects, and corresponding metrics while also detailing INNIO Group's 2023 growth, its increased factory output, and its workforce expansion.
Sustainability is not everything, but without sustainability, everything is nothing. This simple idea captures the current relevance of sustainability for politics, society, and investors.
2023 was a strong year for the INNIO Group, which continued to make tangible improvements across its three sustainability strategy pillars. Those pillars, set in 2020 and underpinned by good governance, business ethics, and transparency, are: Low-Carbon and Circular Products, Resilient Supply Chain and Manufacturing, and Responsible Operations and Social Responsibility.
“Making progress together” demonstrates how INNIO Group’s journey has progressed and tangible improvements made across these pillars. For instance, INNIO Group continues to actively work on reducing its Scope 1, 2, and 3 emissions. Its near-term targets were validated by the Science Based Targets initiative (SBTi). By the end of 2023, more than 80% of INNIO Group’s top 200 suppliers had committed to a 50% reduction in their GHG emissions by 2030. Additionally, the business had increased the share of recycled material inputs sourced for its products to 61%.
Creating a diverse work environment is central to INNIO Group’s growth and innovation. In 2023, gender diversity increased by 4% to reach 18.1% female employees. INNIO Group’s prioritization of talent development demonstrates its dedication to building long-term careers. In 2023, approximately 31% of vacancies were filled through internal transfer. Providing training and support for both employees and customers remains a priority for INNIO Group. In 2023, 127,321 hours of trainings were completed by employees, and more than 100,500 hours were provided to distributors and end users.
Maintaining a safe work environment also is of key importance. In 2023, INNIO Group’s number and rate of high-consequence work-related injuries was zero. Additionally, the company continues to maintain a strong track record of zero fatalities in its operations. Thanks to its high standards, the INNIO Group’s primary operation in Welland, Ontario, has been recognized by Canadian Occupational Safety as a 5-star Energy and Resources Company for its health and safety policies and dedication to social progress. The company’s sustainability efforts have been recognized globally with top ratings by both EcoVadis (Platinum medal) and Sustainalytics (rated “negligible risk”).
Looking ahead, we are well positioned to continue our transition to new mandatory regulatory requirements and sustainability standards such as ESRS and CSRD or EU Taxonomy. Growing the overall maturity of INNIO Group’s sustainability program will support us in engagement with our stakeholders, where we can share best practices and promote sustainable strategies.
About INNIO Group’s 2023 Sustainability Report
“Making progress together“ is a comprehensive overview of INNIO Group Holding GmbH’s environmental, social, and governance (ESG) strategy. This 2023 disclosure was prepared with reference to the standards of the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB). It also includes an initial analysis in line with the Task Force on Climate-related Financial Disclosures (TCFD) Recommendations Framework.
Read INNIO Group's full 2023 ESG report here.