Siemens is a German company focusing on the areas of electrification, automation, and digitalization. The company supplies systems for power generation and transmission as well as medical diagnosis. Siemens operates in eight segments: Power and Gas, Energy Management, Building Technologies, Mobility, Digital Factory, Process Industries and Drives, Healthcare, Metals Technologies, and Other. The company has over 345,000 employees in more than 200 countries.
Siemens applies the principles of sustainability across its entire value chain – from its suppliers, to its own operations and customers. As one of the world’s largest producers of energy-efficient, resource saving technologies, the company enables its clients to reduce carbon emissions while it develops products based on a life-cycle perspective and strict eco-design standards. Siemens also minimizes the impacts of its own operations by using ISO 14001 environmental management programs, buying clean power and optimizing its fleet of over 45,000 vehicles. The company will invest $100 million over the next three years in order to improve the energy efficiency of its production facilities and buildings, too. Siemens’ goal is to halve its carbon dioxide emissions by 2020. Additionally, the company has strict sustainability requirements that it applies to its procurement processes and it periodically requires every supplier to re-demonstrate compliance with the company’s Code of Conduct. Siemens has strong policies and performance regarding the health and safety of its workers. The company also offers its employees career development opportunities and educational assistance.
Siemens has been involved in the construction of multiple large hydroelectric projects that have negatively impacted ecosystems in the Amazon Rainforest. The company has also been accused of bribery. Additionally, Siemens’ executive committees lack gender and racial diversity.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/16 and may not reflect current opinions or subsequent events.