TOGETHER FOR CHANGE – WIND FOR A SUSTAINABLE FUTURE
The Goal: Sustainability in all areas
As a manufacturer of innovative onshore wind turbines, we help to continually increase the share of renewable energies in the global energy mix. Sustainability is the core of our business model. Even though our technological standard is already very high and our plants are extremely efficient, we aim to achieve more.
We are convinced that sustainability is essential, not only for the commercial future of the Nordex Group but also to preserve our environment for future generations.
For this reason, the Nordex Group pursues a holistic approach. On the way to operating sustainably as a company in all areas, we set ambitious targets for ourselves and continually strive to make improvements.
The objective is clear, how to get there is described by our sustainability strategy.
SUSTAINABILITY – ORGANIZATIONALLY ANCHORED & STRATEGICALLY LEADING THE WAY
In the Nordex Group, the Global Sustainability Management department is responsible for the company’s strategic development of sustainability topics and remains in constant contact with all company divisions to align sustainability activities. The department is part of the central organizational unit Quality, Health, Safety & Environment (QHSE), which reports directly to the Management Board. Our company-wide Global Sustainability Network, coordinated by the Sustainability Management department, is an important platform for discussing and driving cross-departmental sustainability issues.
THE NORDEX GROUP IS COMMITTED TO THE GOAL OF SUSTAINABLE DEVELOPMENT AND ACTIVELY CONTRIBUTES TO THE SDGS
At the heart of its Agenda 2030, the United Nations General Assembly adopted 17 global Sustainable Development Goals (SDGs) in 2015. The Nordex Group has integrated these objectives into its sustainability approach. We see our potential for influence particularly in the five SDGs as our business activities can make a significant contribution to their achievement: ‘Affordable and Clean Energy’ (7), ‘Decent Work and Economic Growth’ (8), ‘Industry, Innovation and Infrastructure’ (9), ‘Responsible Consumption and Production’ (12) and ‘Climate Action’ (13).
Sustainability Strategy 2025
TOGETHER FOR CHANGE –
WIND FOR A SUSTAINABLE FUTURE
Nordex’s new sustainability strategy 2025 called “Together for change – Wind for a sustainable future”, forms the framework for responsible actions in all areas of the organization.
We conducted an extensive materiality analysis in order to identify the material issues for the Nordex Group, sustainability-related trends and developments, and to find out to what extent our performance matches our potential and requirements in the opinion of external stakeholders. We engaged with customers, investors and suppliers and then with internal stakeholder groups. Based on this materiality analysis we set smart targets, underpinned by specific measures for these topics to launch the next stage of consistent sustainable development in our company.
Sustainability ratings & ESG scores
As of July 2022
There are various ESG ratings agencies that continuously monitor and confirm Nordex’s sustainability performance. ESG stands for environment, social and governance. The agencies collect information on these topics, conduct research and evaluate companies. These ratings encourage transparency concerning sustainability performance in our industry.
ESG RATING SCORES
Rating outcome: B Prime
One of the leading ratings agencies worldwide in the area of sustainable investments, ISS SEG, evaluated the Nordex Group with “B” in 2020 and singled out the company as one of the Top 3 companies in a sector comparison. Accordingly, Nordex continues to retain its “Prime Status”, which distinguishes companies whose environmental and social activities are above the industry average.
Rating outcome: B–
The CDP (formerly the Carbon Disclosure Project) rating, which focuses on environmental impact, scored the Nordex Group with a ‘B-’ in the category of climate change in the reporting period. We have identified climate change and decarbonisation as a field to focus, which we are addressing with strategic targets and measures.
Rating outcome: A
The goal of the MSCI rating is to measure a company’s resilience to long-term ESG risks. In 2021, Nordex achieved the rating of A (on a scale from AAA-CCC) in the MSCI ESG rating.
Rating outcome: 71 Gold
The Nordex Group was awarded a gold medal in recognition of its sustainability achievements in June 2022. In order to receive a gold medal, companies must achieve a total point score of 66-73. The EcoVadis method involves the evaluation of guidelines, actions and reports published by companies in the thematic areas of environment, labor and human rights, ethics and sustainable procurement. International experts for sustainability analyze and review company data (supporting documents, 360 Watch results etc.) in order to obtain reliable ratings that consider the sector of the company, its size and its geographical location.
Rating outcome: 24.8 Medium
Sustainalytics helps investors to identify financially significant ESG risks at the security and portfolio level. The agency measures the Nordex Group’s exposure to industry-specific significant ESG risks and assesses how well we manage these risks. In September 2021, Nordex received an ESG Risk Rating of 24.8 points and was classified as medium risk by Sustainalytics, which indicates the possibility of significant financial impacts owing to ESG factors.
Sustainability reports & certifications
Since 2016, the Nordex Group releases an annual report about the latest developments, activities and key figures in the area of sustainability and documents the economic, ecological and social services and progress that are achieved through the sustainability strategy. We provide detailed information in our sustainability reports. The content of the reports focuses on the topics identified in the materiality analysis of Nordex’s sustainability strategy. The sustainability report is audited by an independent auditing firm in accordance with the International Standard on Assurance Engagements 3000 (ISAE 3000, Revised). The reports are created in line with the framework GRI standards of the Global Reporting Initiative (GRI) in the “Core” option.