Sustainability Report 2021

Innovation is at the heart of Grundfos.

It has been that way since our founder, Poul Due Jensen, met a farmer who needed to irrigate his fields; a meeting leading to the innovation of the first Grundfos pump.

Fast forward to 2021 and we see humanity challenged by an accelerated water crisis intensified by climate change, a growing population and increased urbanisation. As the most recent report from the Intergovernmental Panel on Climate Change (IPCC) also concluded, the need for action is imminent. 2021 has also been another year defined by the COVID-19 pandemic and going into 2022 we see critical political tensions causing immediate global repercussions that are putting deeper focus on our business, operations and sustainability actions.

To ensure we continuously live up to our commitments and adapt to the new challenges, 2021 has been the year where we expanded our understanding of what it takes to achieve our ambition and be recognised as a sustainability leader.

Today, we are more data and impact driven, and we have stronger governance, target setting frameworks and prioritisation.

Poul Due Jensen, Group President, CEO

Read the full CEO letter in the report.

This report is structured around our sustainability framework, with a focus on our ambitions, empowering people and reducing our footprint.

Ambitions

Our four ambitions – saving energy, saving water, circular business and water access – are the areas where we want to lead and where we can have the greatest impact. Our four ambitions directly align with the UN’s Sustainable Development Goals (SDGs).

Empowering people

Our people are our power and our most valuable asset. The more we work together to be an inclusive and diverse workplace, the stronger we will be as a business and a society.

 

Reducing our footprint

Creating energy efficient water and digital solutions is our business, so we must deliver on our promises to reduce our global footprint by saving our own energy and water and enabling a green supply chain.

 

Approach to taxes

In Grundfos we pioneer solutions to the world’s water and climate challenges and improve quality of life for people.

Everything we do is guided by our values: sustainable, open and trustworthy, focused on people, independent, partnership and relentlessly ambitious. These values enable us to have confidence in achieving long-term, sustainable growth.

We see taxes as an essential part of a well-functioning society. We recognize that taxation is a tool to help financing achievements of the UN Sustainable Development Goals.