Sustainability Report 2023
Grundfos is taking a leading role in addressing the world’s most pressing sustainability challenges. We’re proud to report significant progress towards our ambitions and goals. Download our Sustainability Report for the full picture, or check out some key highlights and achievements below.
We believe water is the most essential resource on the planet.
Yet to realise its potential and transition to a water-secure, net-zero future, the world faces several challenges. Amongst these are the need to move more water while using less energy, increase our resilience to the impacts of climate change, and improve access to water for all. These are global challenges and Grundfos is committed to playing our part in solving them.
Poul Due Jensen
Group President, CEO
We are Grundfos
Grundfos operates with entities in more than 60 countries, serving a wide range of applications across our four divisions: Commercial Building Services, Domestic Building Services, Industry and Water Utility, that all help us deliver on our promise.
Key achievements in 2023
Sustainability highlights in 2023
Discover some highlights of the progress we’ve made in key areas of our sustainability efforts throughout 2023: our journey to net-zero, decarbonising our operations, reducing our water footprint, policy and advocacy, water access and circular business.
Net-zero journey
Tangible roadmaps towards 2023.
We’ve taken solid steps on our science-based net-zero journey, developing tangible roadmaps for driving decarbonisation across the value chain of the company. With 99% of emissions being in the use of sold products, our focus is on driving decarbonisation through intelligent and energy-efficient pump solutions for customers.
Decarbonising our own operations
Power purchase agreement for wind farm.
Decarbonising our own operations and contributing to the green energy transition has also been a major priority in 2023. We signed a 10-year power purchase agreement for a wind farm in Finland, which will supply 80% of our power consumption in the EU. The agreement will enable us to meet our target of 50% reduction on operational carbon emissions already in 2025 – five years ahead of plan.
Reducing our own water footprint
Significant progress, reaching 96% of 2025 target.
2023 has been a year with great focus on strengthening the water agenda. We made significant progress on reducing water footprint at operational sites, now reaching 96% of the target set for 2025. We’re taking foundational steps to develop a new water sustainability strategy stretching across the value chain, focusing on innovative solutions and partnerships for water efficiency, water regeneration, and water resilience. The new strategy will launch in 2024.
Water access
Providing access to water for communities in need.
In 2023, we continued progress on our long-standing commitment to provide access to water for communities in need and helped provide access to drinking water for approximately 7m people in 2023.
Circular business
Number of old pumps returned to take-back programme more than doubled.
In 2023, we surpassed our initial reduction in waste-to-landfill target for 2025. As a result, we will set a new target and work to further reduce waste, while also implementing our new circularity strategy which will include additional KPIs and targets. We received 134,098 kg of pumps through the take-back scheme, which represents a 109% increase on 2022 figures.
EcoVadis Gold medal
Top 5% of all rated companies.
In 2023 we received a gold medal from EcoVadis, the world’s largest and most trusted provider of business sustainability ratings, placing us in the top 5% of over 125,000 rated companies. EcoVadis assessments allow us and our customers to get a detailed insight into our progress within environment, labour and human ethics, and sustainable procurement.
Policy and advocacy
Advocating for water’s important role in a world facing climate change.
In 2023, we joined civil society, governments, and private sector partners in advocating for water’s important role in a world facing climate change, promoting water on the climate agenda at the UN Water Conference in New York and COP28 in Dubai, and strongly supporting the efforts to build a smart water strategy in Europe – the EU Blue Deal.
Grundfos’ Sustainability Framework
Aligned with our 2025 business strategy, our sustainability framework guides the approach we take to sustainability across our operations. Our Sustainability Council governs the implementation of the sustainability framework and initiatives across the business.
Sustainability Report 2023
Grundfos is taking a leading role in addressing the world’s most pressing sustainability challenges. We’re proud to report significant progress towards our ambitions and goals.