Sustainability 
report 
2023

Key figures 
320,000
Employees
€8.5 billion
Net income
1	
Publicly listed subsidiary of Siemens; Siemens’ share in Siemens Healthineers: 75%.
We are connected to Siemens Healthineers (SHS) under the Siemens brand through shared values.
All indicators in the report include Siemens Healthineers (SHS), unless otherwise noted.  
For the sake of readability, the masculine form is used; it is representative of people of any gender.
Siemens 
Healthineers 1
Healthcare
SCOPE OF SUSTAINABILITY
REPORT
Siemens
Industry, Infrastructure, and Mobility
Our Purpose 
	
We create technology  
to transform the everyday, 
	
for everyone
15.4%
Adjusted EBITA margin
for the Industrial Businesses
€78 billion
Revenue 
SIEMENS SUSTAINABILITY REPORT 2023 
2

Contents
Contents 
3
Foreword 
4
1
Siemens at a glance 
7
1.1 	 Our DEGREE sustainability framework  
sets measurable ambitions
8
1.2 	 Company profile
10
1.3 	 Strategy
17
2
Our sustainability management 
20
2.1 	 Materiality assessment
21
2.2 	 Sustainability governance and organization
23
2.3 	 Partnerships and collaborations for sustainability
26
2.4 	 Sustainability ratings reflect our performance
29
3
Governance
31
3.1 	 Compliance and Ethics
32
3.2 	 Human rights
40
3.3 	 Sustainable supply chain practices
44
3.4 	 Cybersecurity and data privacy
49
4
Environment 
54
Holistic environmental protection
55
4.1 	 Climate action
58
4.2 	 Conserving resources
65
4.3 	 Product stewardship
71
4.4	 EU taxonomy
76
5
Social
81
5.1 	 Working at Siemens
82
5.2 	 Diversity, Equity & Inclusion
89
5.3 	 Professional education and lifelong learning
93
5.4 	 Occupational health and safety management
97
5.5 	 Corporate citizenship
102
6
Our sustainability indicators
106
7
Annex 
124
7.1 	 Reporting methodology
125
7.2 	 Reporting principles for Customer  
Avoided Emissions
128
7.3 	 Our contribution to sustainable ­development  
of societies
132
7.4 	 Task Force on Climate-Related  
Financial Disclosure (TCFD)
136
7.5 	 GRI Standards – key topics and boundaries
144
7.6 	 WEF IBC Metric
146
7.7 	 SASB – Electrical Electronic Equipment Index
150
7.8 	 United Nations CEO Water Mandate
152
7.9 	 Independent auditor’s report on a limited  
assurance engagement 
154
7.10 	Notes and forward-looking statements
156
7.11 	Further information and  
information resources
157
SIEMENS SUSTAINABILITY REPORT 2023 
3
Contents

Foreword
Scaling sustainability impact
In a tumultuous year of record-shattering heatwaves, wild-
fires and floods, and despite rising energy prices, inflation, 
supply chain challenges, labor shortages, plus the impact of 
growing geopolitical tensions, we remain optimistic about 
technology as the answer to some of the world’s biggest 
challenges. Our technology empowers our customers and 
partners to scale their sustainability impact faster across the 
backbone of our economies. As we approach a critical tipping 
point for our planet, the demand to accelerate the digital 
and sustainability transformations has never been greater.
As a leading technology company, Siemens supports cus-
tomers all over the world to become more competitive, 
resilient, and, above all, more sustainable. Our portfolio 
enables a positive impact on our planet and society at scale. 
Today, it is about more than just managing negative foot-
prints; it is about a company’s handprint and increasingly 
expanding businesses’ net-positive impact on the world. 
That is why Siemens has integrated its sustainability strategy 
in our business activities, technology roadmap, investment 
decisions, own operations, and governance. We empower 
our customers to accelerate their sustainability goals along 
three impact areas: decarbonization & energy efficiency, 
resource efficiency & circularity, people centricity & societal 
impact.
Our purpose – which has guided us for 176 years – is to 
create technology to transform the everyday, for everyone. 
This technology with purpose touches the lives of customers, 
partners, and consumers everywhere – improving the quality 
of life for billions of people worldwide. Technology with 
purpose is about leveraging digitalization for optimized 
resource usage and circularity readiness and accelerating the 
energy transition through renewable integration, energy 
efficiency, and electrification. It is about societal impact 
by designing and operating the most efficient train and 
e-mobility solutions within sustainable communities, built 
upon decarbonized building technologies. And it is about 
pioneering breakthroughs in healthcare to improve the lives 
of patients and their families.
Combining the real and digital worlds
Our strategy is to combine the real and digital worlds – 
­harnessing the power of hardware and software, or OT and 
IT. More than 90% of Siemens AG’s business enables positive 
sustainability outcomes for our customers. Worth highlight-
ing is that our products sold to customers in fiscal 2023 will, 
over the course of their lifetime, avoid around 190 million 
metric tons of CO2 equivalent emissions – a significant 
increase in avoided emissions over the prior year. This 
­represents more than the equivalent emissions of the 
­Netherlands. In contrast, our own operations and supply 
chain accounted for around 12 million tons of greenhouse 
gas emissions.
SIEMENS SUSTAINABILITY REPORT 2023 
4
Foreword

To help our customers and partners accelerate their transfor-
mation, we recently introduced Siemens Xcelerator, an open 
digital business platform that makes digital transformation 
easier, faster, and more scalable for companies of all sizes. A 
key element of this platform is a growing ecosystem of 
partners. The sustainability impact we create is more powerful 
when all partners pool their strengths and work together 
toward a common goal.
We are able to empower our customers to scale sustainability 
impact because we address challenges across the entire 
value chain – with deep domain know-how across many 
industries and across ecosystems of suppliers, partners, and 
customers.
An excellent example of the power of ecosystems is how 
software can track and manage carbon footprints throughout 
lifecycles and along supply chains. SiGREEN, an emissions-­
tracking tool on our Siemens Xcelerator platform, enables 
companies to connect to all their suppliers, enabling data-
driven decisions to reduce product carbon footprints and 
decarbonize at scale.
Our DEGREE sustainability framework
And we do not stop at the sustainability impact of our port-
folio. We define our environmental, social, and governance 
(ESG) ambitions within our DEGREE sustainability framework – 
a 360-degree approach reflecting our core sustainability 
values. We look at sustainability from every angle with clear 
ambitions in six fields of action – Decarbonization, Ethics, 
Governance, Resource efficiency, Equity, and Employability.
We have a clear position on responsible business conduct. 
And our DEGREE commitments are based on that. Ethical 
behavior, integrity and compliance are nonnegotiable. They 
go beyond strict adherence to rules by firmly placing respon-
sible action sustainably at the core of our culture and busi-
ness conduct.
We are also focused on our own environmental footprint: In 
2015, as one of the first global companies to do so, we 
committed to becoming carbon neutral by 2030. Today, we 
are on track, and we have already accelerated. We are proud 
to have reduced our CO2 footprint from our operations by 
50% (without offsetting) since 2019 and are targeting 90% 
in 2030. We reduced our energy consumption by 9% since 
fiscal 2021, meanwhile 96% of our locations have imple-
mented a water strategy.
Applying our own technologies in our own operations is key 
to achieving these ambitions. In Nanjing, China, for example, 
we consolidated three production sites into one lean and 
green digital native factory, which was first built as a digital 
twin. This led to annual savings of 5,000,000 kWh of energy, 
3,300 metric tons of CO2, and 6,000 m3 of water. At the 
same time, productivity went up by 20%. For Siemens, 
rethinking scalable products and services for a sustainable 
world should go hand in hand with savings, efficiency gains, 
and customer value.
SIEMENS SUSTAINABILITY REPORT 2023 
5
Foreword

Our sustainability ambitions are supported by 320,000 
­colleagues who bring our purpose to life every day – in an 
increasingly inclusive environment in 190 countries around 
the world. Within Siemens AG, women now hold 31% of top 
management roles, having achieved our 2025 ambition for 
30% two years ahead of time. Our people are at the heart of 
this company. In fiscal 2023 we invested €416 million in our 
active learning culture, ensuring sustainable employability in 
rapidly changing markets. We have also made progress in the 
number of hours our people spent learning across the three 
strategic focus areas of digitalization, sustainability, and 
leadership: On average, our people have accrued 23 digital 
learning hours per person per year. And they are on track to 
increase that to our ambition of 25 digital learning hours by 
2025.
Easier, faster, and at scale
We create technology to transform the everyday, for everyone. 
By combining the real and digital worlds we can accelerate 
digital and sustainability transformations easier, faster, and 
at scale. Together, by scaling across ecosystems, we will 
continue to leverage the power of the digital world to have 
a positive sustainability impact in our precious real world. At 
Siemens, what’s good for business and good for the planet 
and society go hand in hand.
Dr. Roland Busch	 	
Judith Wiese
SIEMENS SUSTAINABILITY REPORT 2023 
6
Foreword

Pages 7 – 19  
Siemens at  
a glance 
SIEMENS SUSTAINABILITY REPORT 2023 
7

D  ecarbonization 
support the 1.5°C target  
to fight global warming
E  thics 
foster a culture of trust, adhere to ethical standards,  
and handle data with care
G  overnance 
apply state-of-the-art systems for effective  
and responsible business conduct
R  esource efficiency 
achieve circularity  
and dematerialization
E  quity
foster diversity, inclusion, and community development 
to create a sense of belonging
E  mployability  
enable our people to stay resilient and relevant 
in a permanently changing environment
A strong framework for sustainability
Sustainability is an integral part of our business. We are 
taking our ESG commitment to the next level with our 
DEGREE sustainability framework. The framework provides a 
360-degree approach to our core sustainability values.
By addressing the three aspects of ESG, we are building a 
better future that helps us to
→	Stay within the planetary boundaries;
→	Foster a culture of trust, empowerment, and growth;
→	Support inclusive economic opportunities; 
→	Ensure that our people and businesses remain resilient and 
relevant for the future.
The DEGREE sustainability framework is based on six fields of 
action that drive sustainability and are dynamic and contin-
uously evolving. We have set clear priorities and ambitions 
for key ESG issues, which we are driving towards. The 
DEGREE sustainability framework applies to all Siemens-­
affiliated companies, excluding Siemens Healthineers (SHS). 
However, the sustainability approach at SHS follows the 
same basic principles, which reflects our expectations as its 
majority shareholder.
1.1
Our DEGREE sustainability framework sets  
measurable ambitions 
SIEMENS SUSTAINABILITY REPORT 2023 
8
1.1 Our DEGREE sustainability framework sets clear and measurable ambitions

What are our ESG ambitions and priorities, and what progress did we make by end of fiscal 2023?
Baseline
Progress  
at the end of FY 23
Ambitions
Decarboni­
zation
1.	 Net Zero operations by 2030, with 55%  
emissions reduction by 2025 and 90% by 2030
2.	 Net Zero supply chain by 2050, 20% emissions 
reduction by 2030
FY 19: 737 kt CO2e
FY 20: 8,098 kt CO2e
– 1%
– 55% by 2025 
– 90% by 2030
– 20% by 2030
– 100% by 2050
Ethics
3.	 Striving to train 100% of our people on Siemens’ 
Business Conduct Guidelines every three years
From FY 23
100% by 2025
Governance
4.	 ESG-secured supply chain based on supplier 
commitment to the Supplier Code of Conduct 
5.	 Long-term incentives based on ESG criteria 1
− −
− −
Suppliers committed
ESG criteria anchored
− −
− −
Resource
efficiency
6.	 Next-level Robust Eco Design for 100% of 
­relevant Siemens product families by 2030 
7.	 Natural resource decoupling through increased 
purchase of secondary materials for metals and 
resins 2
8.	 Circularity through waste-to-landfill reduction  
of 50% by 2025 and toward zero landfill waste  
by 2030
FY 21: 26% 
− −
− −
FY 21: 0%
Metals 35%
Resins <1%
100% by 2030
− − 
− −
– 50% by 2025 
~ –100% by 2030
Equity
9.	 30% female share in top management by 2025
10.	 Access to employee share plans: maintain  
high level and expand globally to up to 100% 3
11.	 Global commitment to the New Normal 
­Working Model 4
FY 20: 22.7%
FY 21: 98%
− −
Rollout continued
30% by 2025
~ 100% by 2025
– –
Employability 12.	 Increase digital learning hours to “25 by 25”55
13.	 Access to Employee Assistance Program: 
­maintain high level and expand globally to 
100% by 2025
14.	 30% improvement in Siemens’ globally 
­aggregated LTIFR6 by 2025
FY 20: 7h
FY 20: 82%
FY 20: 0.31
25h by 2025
100% by 2025
– 30% by 2025
1	
Assessment based on the Siemens internal ESG/sustainability index, which is based on customer satisfaction (Net Promoter Score), CO2 reduction, and digital learning hours.
2	
Product specifications for the use of secondary plastics are in development.
3	
Where legally possible and reasonable.
4	
For employees with job profiles that make this possible and reasonable. 
5	
Digital learning hours per headcount on average.
6	
LTIFR: Lost Time Injury Frequency Rate (Siemens employees and temporary workers).
69%
51%
– 15%
99.9%
23h
96%
– 26%
  MORE INFORMATION
ON OUR AMBITIONS
31.1%
– 50%
SIEMENS SUSTAINABILITY REPORT 2023 
9
1.1 Our DEGREE sustainability framework sets clear and measurable ambitions

–	 A leading technology company with a global 
­footprint
–	 We create technology to transform the everyday, 
for everyone
–	 Combining the real and digital worlds to benefit 
customers, planet, and society
A leading technology company 
Siemens AG (Berlin and Munich) is a technology company 
focused on the fields of industry, infrastructure, mobility, 
and healthcare. 
1.2
Company profile
By combining the real and digital worlds, Siemens helps its 
customers accelerate their own digital transformations 
(easier, faster and at scale) and achieve their sustainability 
targets.
In addition to its core businesses (Digital Industries, Smart 
Infrastructure, and Siemens Mobility), Siemens is the majority 
shareholder of the exchange-listed company Siemens 
Healthineers AG (SHS), a leading global provider of medical 
technology. Siemens also holds a minority interest in the 
exchange-listed company Siemens Energy AG, which oper-
ates in the field of energy transmission and generation.
Businesses and services
 SIEMENS COMPANY PRESENTATION
1	
Publicly listed subsidiary of Siemens; Siemens’ share in Siemens Healthineers is 75%.
Digital  
Industries
Portfolio 
Companies
Smart  
Infrastructure
Siemens ­
Advanta
Mobility
Siemens 
Financial Services
Siemens 
Healthineers1
Siemens 
Real Estate
Global 
Business Services
Industrial businesses
Services
SIEMENS SUSTAINABILITY REPORT 2023 
10
1.2 Company profile

As a minority interest, Siemens Energy AG is not included in 
this Sustainability Report. Siemens is a technology company 
that operates in nearly all countries of the world. Ever since 
it was founded in 1847, Siemens has provided solutions to 
global challenges and stands for innovation, quality, and 
reliability. We are focused on leveraging the digital and sus-
tainability transformation to drive sustainable growth. 
Industrial businesses
Digital Industries
The industrial world faces tremendous challenges. As our 
planet‘s resources are finite, we must decarbonize and do 
more with less. Digital Industries’ offerings enable customers 
to optimize entire value chains from product design and 
development through production and post-sale services. 
With its advanced software solutions in particular, Digital 
Industries supports customers in their evolution towards the 
“Digital Enterprise,” resulting in increased flexibility and 
efficiency of production processes and reduced time to 
market for new products.
Smart Infrastructure
Siemens Smart Infrastructure drives the decarbonization, 
resource-efficiency, and people-centricity of energy systems, 
buildings, and industries by connecting the real and digital 
worlds. This helps to improve the way people live and work 
by paving the way for the sustainability transition to an 
all-electric world with decarbonized power supply and effi-
cient energy use.
Siemens Mobility
Siemens Mobility drives the decarbonization and resource-­
efficiency of transportation by connecting the real and digital 
worlds. Leveraging digital technologies enables lifecycle 
cost-optimized rail infrastructure and rolling stock, 100% 
system availability, maximized network capacity, and opti-
mized customer experience and processes to support a 
mobility shift in our society.
Siemens Healthineers
Based on its foundation in in vitro diagnostics, image-guided 
therapy, in vivo diagnostics, and cancer care, Siemens 
Healthineers aims to fight the most dangerous non-commu-
nicable diseases such as cancer, stroke, and coronary heart 
disease worldwide, enable efficient workflows in hospitals, 
and improve access to modern medical care. Today, more 
than three billion people around the world still lack access to 
adequate medical care. Depending on where you live, this 
lack of access is even true in developed countries. It is the 
privilege of Siemens Healthineers to provide innovative 
healthcare solutions and services which make healthcare 
affordable and accessible for underserved communities 
everywhere.
Key figures
In fiscal 2023, which ended on September 30, 2023, Siemens 
generated revenues of €78 billion and profits after tax of 
€8.5 billion. As of September 30, 2023, the company had 
approximately 320,000 employees worldwide.
  SIEMENS FINANCIAL REPORT FISCAL 2023, COMBINED MANAGEMENT 
REPORT, CHAPTER 7, OVERALL ASSESSMENT OF THE ECONOMIC POSITION
Customers
Putting customers first is a longstanding tradition at 
Siemens.1 When it comes to technology, sustainability, and 
innovation, our customers are always at the heart of what 
we think and do: everything begins with them. That is why 
we have made “customer impact” a strategic priority. We listen 
to understand our customers’ needs as early as possible, and 
ideally, before our customers even become aware of them.
To meet our customers’ needs and the constantly changing 
demands of the markets, Siemens draws on a global sales 
force that takes its guidance from our regional companies. 
Key success factors include a strong customer focus, digital 
transformation, efficient processes, and collaboration with 
external partners.
1	
We call any current or potential purchaser of Siemens products or services, no matter 
what the sales channel, a “customer.” Some customers who are especially significant 
for Siemens are called “Key Customers”.
SIEMENS SUSTAINABILITY REPORT 2023 
11
1.2 Company profile

Sustainable growth through digital 
transformation 
The COVID-19 pandemic has rapidly accelerated digitalization. 
New business models are emerging, and the importance of 
collaborative partnerships within ecosystems is increasing, 
especially in the context of sustainability challenges that 
cannot be solved unilaterally. We need to achieve more, and 
we need to do it sustainably while consuming fewer 
resources. We can do this by increasing our efficiency with 
the help of new technologies and by working in ecosystems 
with new business models to keep resources in circulation.
Combining the real and digital worlds represents a major 
leap forward for Siemens and our customers as well as for 
industries, planet, and society. This will help shape a world 
where intelligent manufacturing, smart energy systems, 
smart buildings, and connected mobility can make our infra-
structure more sustainable and our lives easier.
Technology is driving sustainability, and the digital transfor-
mation is also essential to accelerating sustainability. To 
speed up our customers’ digital transformation and increase 
their value added, we have created Siemens Xcelerator, an 
open digital business platform. It is intended to accelerate 
digital transformation (easier, faster, and at scale). It com-
prises three fundamental elements:
1.	A curated modular portfolio of IoT-enabled hardware, 
software, and digital services from Siemens and certified 
partners based on standard application programming 
interfaces (APIs)
2.	An ever-growing open ecosystem of partners
3.	An evolving marketplace that enables customers, partners, 
and developers to explore, teach, and exchange digital 
solutions.
The platform is constantly growing and provides many market-­
tested solutions that enable customers to easily begin their 
sustainability projects. These projects can include managing 
energy efficiency, integrating renewable energies, and saving 
resources. Siemens Xcelerator provides cybersecurity 
­standards at every level to reduce risks for customers.
Customer Impact
At Siemens we rely on a mature Key Account Management 
approach to systematically structure and drive our Key Cus-
tomer relationships company-wide. While all our customers 
are served by the general Sales organization, Key Customers 
are also managed through our Key Account Management 
approach.
Over and above our basic sales approach, Siemens’ primary 
principles for successful Key Account Management are a 
special understanding of our customers’ technology and 
vertical markets along with the collaboration among all 
customer-facing parties – across functional, organizational, 
and regional boundaries (“go-to-market” approach).
Our harmonized Key Account Management process enables 
us to act as one company and serve our customers in a 
global, sustainably coordinated approach.
Key Account Management – A holistic  
approach to meeting customer needs
Systematically measuring and improving 
customer satisfaction
We use the Net Promoter Score (NPS) every year to measure 
customer satisfaction, and by extension, the quality of our 
partnerships. Management compensation at Siemens also 
includes a component that is based on customer satisfaction. 
This component incorporates long-term performance incen-
tives using ESG criteria and is defined under Governance in 
our DEGREE sustainability framework. The assessment is 
based on the internal ESG/Sustainability index, which 
includes the Net Promoter Score2, among others.3 
 SUSTAINABILITY GOVERNANCE AND ORGANIZATION
2	
Assessment based on the Siemens internal ESG/sustainability index, which is based 
on customer satisfaction (Net Promoter Score), CO2 reduction, and digital learning 
hours.
3	
Siemens without SHS.
SIEMENS SUSTAINABILITY REPORT 2023 
12
1.2 Company profile

Our customers’ satisfaction  
is our top priority
Siemens’ systematic evaluation draws from customer satisfac-
tion surveys conducted annually worldwide. The score itself  
is based on a single question: “How likely is it that you would 
recommend Siemens to a colleague or business partner?”
The survey pursues a holistic approach to customer relations 
because it follows up by implementing processes and systems 
designed to help foster long-term customer loyalty.4 
Regardless of the score, we initiate a follow-up process after 
the survey, both internally and externally. When a score is 
low and considered critical, we take immediate action to 
identify key issues and determine what measures are needed 
to improve the relationship.
Despite the tense global situation (for example, with supply 
bottlenecks for materials and goods), our customers have 
recognized us for our customer support, reliable products, 
and a wide range of offerings. By consistently addressing 
their concerns, we have achieved a higher Net Promoter 
Score than the previous year.
We are focusing on areas where we can make a difference. 
This means creating sustainable, long-term value for our 
customers, for the environment, for society, and for the 
people who work for Siemens.
Research and Development
At Siemens our purpose is to provide innovations that 
improve the quality of life and create added value for people 
all over the world.
Innovation strengthens Siemens and its 
customers 
Our Research and Development (R&D) activities are geared 
towards developing innovative and sustainable solutions for 
Siemens’ customers and businesses, while simultaneously 
strengthening our competitive positioning. This is also how 
we contribute to society. 
We focus on core technologies and innovation fields – 
Siemens Company Core Technologies – that play an essential 
role in the success of Siemens and its customers. The imple-
mentation of our core technologies by our operating 
­businesses and Technology – our central R&D department – 
ensures that research activities and business strategies are 
closely aligned, and that all businesses can profit equally and 
quickly from technological developments. For example:
→	 Data Analytics & AI: Industrial facilities and infrastruc-
tures are generating ever-growing amounts of data. Using 
methods of machine-based data analysis and artificial 
intelligence (AI), we help operators increase availability, 
improve operational quality, and reduce the stress on 
humans and the environment. At the same time, our 
quality statement on industrial-grade AI expresses its 
trustworthiness, reliability, and robustness according to 
the requirements suggested for the European Union’s 
upcoming AI Act.
→	Connectivity & Edge: The Industrial Internet of Things 
(IIoT) is the result of the increasing networking of field 
devices. The IIoT enables field devices to be equipped 
with additional software-based functions during ongoing 
operations and makes it possible for the data generated 
by these devices to be evaluated in the field or in the 
cloud. 
→	Simulation & Digital Twin: Digital twins are the result 
of modeling and simulating systems and processes, 
including the development and manufacturing of products. 
Digital twins make it easier to accelerate the commissioning 
of manufacturing plants, speed up time-to-market, and 
improve the operation of infrastructures throughout their 
lifecycles.
4	
In most cases, the survey questions are focused on the business unit level. However, 
the overall score can be aggregated up to the business level and to the level of the 
entire company.
SIEMENS SUSTAINABILITY REPORT 2023 
13
1.2 Company profile

→	Software Systems & Processes: Complex, distributed 
industrial software systems that integrate software from 
different providers can only be developed using new 
methods and processes in software system development.
→	Power Electronics: Power electronics for inverters have 
always played a major role in industry. As the amount of 
electricity generated by renewable energy sources grows, 
the stable operation of power grids will also depend on 
advances in power electronics.
→	Additive Manufacturing & Materials (from fiscal 2024 
on: Advanced Manufacturing & Circularity): Because of 
the increasing importance of circularity for our customers 
and society, we will sharpen our focus on elements like 
recycling. Additive manufacturing technologies continue 
to play an essential role by facilitating flexible production: 
for instance, component designs with optimized material 
utilization and an optimized performance-weight ratio. 
→	Future of Automation: We are shaping automation 
technologies with the goal of cutting engineering 
expenses, increasing flexibility – by integrating autonomous 
manufacturing machines, for example – and improving 
our customers’ productivity while also reducing energy 
consumption.
→	Cybersecurity & Trust: Industrial cybersecurity is a key 
technology for digitalization. The security of industrial 
facilities and the protection of data and intellectual prop-
erty are important requirements for customers as well as 
governments and societies. 
→	Sustainable Energy & Infrastructure: Energy generation 
is moving away from the paradigm of large, centralized 
power plants towards a network of smaller independent 
generators. Sustainable infrastructure and energy sources 
are essential to this transformation.
→	Integrated Circuits & Electronics: Integrated Circuits & 
Electronics bundles R&D activities in areas like optimized 
circuit design and resource-efficient manufacturing, the 
testing and operation of industrial electronics, and recy-
cling electronics-based products.
→	User Experience: Users expect intuitive operation in all 
our products. The purpose of the User Experience core 
technology is to find out how customers use Siemens 
products, what functions they need, what they expect, 
and what is unnecessary.
Siemens Healthineers’ focus also lies on other research prior-
ities with the goal of shaping the healthcare of the future. 
These include medical technology, sensor systems, and 
robotics and any of the increasingly complex applications 
that can be automated. By using digitalization and AI respon-
sibly, Siemens Healthineers is increasing the quality, efficiency, 
and effectiveness of care at all levels of the healthcare 
delivery system.
Siemens supports research, founders, and students to help 
drive the development of innovative solutions. We work 
closely with scientists at more than 500 leading universities 
and research institutions, not just through bilateral research 
cooperation agreements but also in publicly funded collec-
tive research projects. With the Siemens Research and Inno-
vation Ecosystem program (RIE), we want to address today’s 
challenges with technologies of the future in a collaborative 
approach. In fiscal 2023 we collaborated in 16 local Siemens 
Research and Innovation Ecosystems around the globe3.
Siemens’ global venture unit, Next47, provides capital to 
help enterprise-focused start-ups expand and scale. It nurtures 
next-generation business for Siemens by partnering with 
global start-ups at the early and expansion stages of their 
development. Next47 seeks to anticipate the impact that 
new technologies will have on our markets. This knowledge 
enables Siemens and its customers to grow and thrive in the 
age of digitalization.
Continued high investment in R&D
In fiscal 2023, we reported research and development 
expenses of €6.2 billion, compared with €5.6 billion in fiscal 
2022. The resulting R&D intensity, defined as the ratio of 
R&D expenses to revenue, was rated at 8.0%. Additions to 
capitalized development expenses amounted to €0.3 billion. 
As of September 30, 2023, Siemens held approximately 
45,000 granted patents worldwide in its continuing opera-
tions. 
  COMBINED MANAGEMENT REPORT
3	
Siemens without SHS.
SIEMENS SUSTAINABILITY REPORT 2023 
14
1.2 Company profile

Our Siemens Company Core Technologies drive technology development to master key sustainability challenges
Patent portfolio reflects sustainable innovation 
Siemens’ sustainable innovation is reflected in the compa-
ny’s patent portfolio. Using the LexisNexis® PatentSight® 
patent information platform, we evaluate our sustainable 
innovations against the United Nations’ 17 defined Sustain-
able Development Goals (SDGs) and the corresponding 
169 targets. 46.8% of the active patent families in Siemens’ 
patent portfolio relate to at least one SDG, mainly in the 
categories of Good Health and Well-Being (SDG 3), Industry, 
Innovation, and Infrastructure (SDG 9), Affordable and Clean 
Energy (SDG 7), and Climate Action (SDG 13).
Data Analytics &  
AI
Trustworthy AI in 
critical IT/OT infrastructures 
to safeguard sustainability, 
transparency, safety, security, 
and privacy
Advanced  
Manufacturing & 
Circularity
Tools and procedures for design-
ing products that optimize re-
source use, including AM designs 
and strategies for 4R (reuse, 
­remanufacture, repair, recycle)
Integrated  
Circuits &  
Electronics
Reduce-reuse-recycle 
approaches through life- 
cycle management for 
­electronics-based products
Connectivity & 
Edge
Robust IoT wireless 
connections and edge 
­solutions for efficient manage-
ment of energy consumption 
in buildings and grids
Simulation & 
Digital Twin
Data-based digital 
building twin and knowledge 
graphs to optimize building 
operation over the lifecycle 
(e.g., Siemens headquarters)
Cybersecurity & 
Trust
SiGREEN for a trust-
worthy exchange of product 
carbon footprints in the value 
chain, with verifiable creden-
tials for transparency and 
­control
Sustainable 
Energy &  
Infrastructure
Lifecycle Assessment and opti-
mization of production, supply 
chain, logistics, and trans­
portation for Environmental 
Product Declaration
User  
Experience
Serious gaming to 
increase awareness  
of the product carbon 
­footprint
Software  
Systems &  
Processes
Siemens Water Apps (SIWA)
for greater efficiency and 
security of the water supply
Future of  
Automation
Automation hard-
ware based on Supervisory 
Control and Data Acquisition 
enables the reuse of waste­
water in agriculture
Power  
Electronics
Tools for optimizing 
energy efficiency, advanced 
lifecycle services, and circular 
economy designs for power 
electronic systems
SIEMENS SUSTAINABILITY REPORT 2023 
15
1.2 Company profile

SDG-related Siemens IP portfolio by SDG category
Absolute figures represent patent families. Multiple assignments of patents possible.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SD
G 0
1: 
No
Po
ve
rty
SD
G 0
2: 
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SD
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04:
 Q
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5: 
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and
 Sa
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6: 
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7: 
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es 
and
 Co
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SD
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ble
 
SD
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5: L
ife
 on
Lan
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wa
te
r
SD
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4: 
Lif
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elo
w
 
 
Act
io
n
SD
G 1
3: 
Cli
ma
te
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ras
tru
ctu
re
In
no
vat
ion
 an
d
SD
G 0
9: 
In
dus
try
,
Pro
du
cti
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Co
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an
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SD
G 1
2: 
Re
sp
on
sib
le
27188 288
6,276
323
57
10
1,588
5,207
794
956
1,434
30
Portfolio 
Size
SIEMENS SUSTAINABILITY REPORT 2023 
16
1.2 Company profile

–	 We combine the real and the digital worlds to scale 
sustainability impact
–	 Siemens’ business is focused on enabling customers 
to achieve positive sustainability impact along 
three customer value propositions: decarbonization & 
energy efficiency, resource efficiency & circularity, 
people centricity & societal impact
–	 The DEGREE sustainability framework defines clear 
fields of action for our sustainability ambition
Siemens is a leading technology company with a portfolio 
designed to drive the digital and sustainable transformation 
of industry, infrastructure, mobility, and healthcare. We 
firmly believe that technology is the answer to creating a 
sustainable future. As key pillars of our strategy, digitaliza-
tion and sustainability help future-proof our business and 
that of our customers.
Siemens offers technologies and solutions to advance 
growth as societies transition toward a more sustainable 
future. We enable our customers to accelerate the energy 
transition, create more resource-efficient factories, smarter 
buildings, and cleaner transportation, and advance health-
care. By combining the real and the digital worlds, we 
empower our customers to be more competitive and more 
resilient while simultaneously reducing their environmental 
impact. Managing data across complex value chains has 
become an important prerequisite for accelerating this 
transformation. Siemens’ industrial metaverse and digital 
twin technologies integrate data from physical factories and 
products across entire lifecycles to optimize production 
design, increase production efficiency, and reduce CO2e 
emissions and the consumption of energy, water, and raw 
materials. Our products, services, and solutions demonstrate 
how technology advances sustainability and is helping shape 
the world we want to live in.
1.3
Strategy
Global megatrends
Complexity in the industrial world has never been greater 
than today. Several megatrends are driving us to rethink 
established ways of doing things: 
→	Environmental change and the associated climate change, 
along with extreme weather conditions like increasing 
flooding and drought, pose critical challenges. Current 
legislation alone is insufficient to effectively combat 
environmental change. We are also facing challenges 
related to resource efficiency and material extraction, 
water scarcity, and biodiversity loss.
→	In times of crisis, glocalization can create a greater balance 
between the global and the local in our economy. For 
instance, by ensuring production of our products and 
solutions near our customers, we can strengthen our 
resilience to shocks while also reducing the environmental 
impact of our products. 
→	Increasing urbanization, especially in less-developed 
regions, is a significant megatrend. In this context, the 
demand for more sustainable and efficient products, 
technologies, and solutions – including passenger trans-
portation and access to renewable energy – continues to 
grow as more and more people move to cities.
→	As global population growth progresses at a slower pace, 
our societies are aging, and an increasing number of 
people need medical care. This demographic change is 
also contributing to a shortage of workers across industries.
→	Lastly, digitalization continues to accelerate advancements 
in connectivity, the Internet of Things (IoT), automation, 
and AI technologies. Digitalization is being rapidly 
adopted by multiple industries in the public and private 
sectors. By optimizing processes, it can play a decisive role 
in reducing environmental impacts.
SIEMENS SUSTAINABILITY REPORT 2023 
17
1.3 Strategy

Scaling sustainability impact
These megatrends and their impacts are reshaping the needs 
of our customers and markets. To create a holistic picture of 
potential futures, we execute sustainability scenario analyses 
that enable us to map impacts and risks, identify opportunities, 
and find new ways to create value through pathways by 
2030 and 2040. Strategic insights are derived from scientific 
frameworks like the Intergovernmental Panel on Climate 
Change’s (IPCC) Representative Concentration Pathways 
(RCPs) and Shared Socioeconomic Pathways (SSPs) as well as 
market trends and expert knowledge. The sustainability 
scenarios illustrate different possible development pathways 
for the global economy and Siemens’ operating environment 
across the focus topics climate, circularity, biodiversity, and 
society that take into account both an organized 1.5°C and a 
disorganized 3°C pathway. These scenarios guide the devel-
opment of our sustainability strategy.
To further increase our positive impact, we believe that 
working in ecosystems is the best way to jointly create seam-
less solutions for our customers and their specific challenges. 
This approach increases our own sustainable offerings and 
solutions and facilitates our customers’ sustainability trans-
formation. Our commitment to sustainability covers the 
entire value chain. Based on our strategic priority to produce 
purpose-driven technology, we strive to create a positive 
long-term impact for our customers with our products across 
our operations and through connected ecosystems. 
Supporting our customers in their sustainability 
transformation
Siemens’ business is focused on enabling customers to 
achieve a positive sustainability impact along the following 
value propositions:
Decarbonization & energy efficiency
We support our customers with their efforts to decarbonize 
their infrastructure and operations, drive energy-efficiency, 
and future-proof entire industries. We do this by offering 
products, systems, solutions, and services that are based on 
our strategic focus on digitalization, electrification, and 
automation. For example, our energy-efficient products and 
solutions support the transition from fossil fuels to renew-
able energy sources, and our electrification solutions enable 
renewable grid integration and the electrification of heat 
and hydrogen. Across industries, we offer energy optimiza-
tion and carbon footprint management throughout our 
products’ lifecycles and supply chains. In buildings, we offer 
energy efficiency and decarbonization solutions, such as 
smart buildings and smart energy management for a reduced 
carbon footprint. Our rail systems offer low-carbon mobility 
and increased energy efficiency.
Resource efficiency & circularity
Through their use of our digital technology, our customers 
can achieve resource efficiency and profitability. For 
instance, we harness digitalization to reduce the require-
ments of physical assets and resources. We combine the real 
and the digital worlds with our digital twin technology, a 
virtual representation of a physical product or process that is 
used to simulate, predict, and optimize its physical counter-
part. Digital twins enable users to do more with fewer 
resources and make current and future environmental foot-
prints transparent. Our building solutions also contribute to 
optimized space utilization and ultimately increase resource 
efficiency. Our mobility solutions focus on enhanced network 
capacity and extended lifecycles. 
SIEMENS SUSTAINABILITY REPORT 2023 
18
1.3 Strategy

People centricity & societal impact
We enable our partners and customers to improve people’s 
lives today and transform the backbone of societies for a 
better tomorrow. For instance, our technologies support the 
well-being, productivity, safety, and security of building 
tenants and operators. Similarly, in the field of mobility, 
passengers and operators benefit from greater safety and 
convenience thanks to our technologies. They also promote 
the socioeconomic development of communities by enabling 
access to basic goods, resilient electric power, affordable real 
estate, food and water, healthcare, education, and public 
transportation.
DEGREE: High ambitions for sustainability
Sustainability is integral to our business and influences 
everything we do. The DEGREE sustainability framework 
defines our comprehensive approach to sustainability. Across 
six fields of action, the framework defines clear priorities for 
us in key sustainability areas that we drive in our own oper-
ations and in collaboration with our partners, suppliers, and 
customers. We continuously develop these priorities and 
ambitions while fully integrating the expectations of all our 
stakeholders. The fields of action are defined along the 
dimensions of Environment, Social, and Governance:
Environment: Decarbonization, Resource efficiency
As part of DEGREE, we have set high ambitions to signifi-
cantly reduce CO2e emissions in Siemens’ operations and 
upstream supply chain. Our approach to resource efficiency 
accelerates recycling and promotes a more circular business. 
Our software and simulations reduce the use of substances 
of concern and other resource usage and introduce recycled 
materials as early as the design and simulation phases of our 
products, factories, and solutions. In addition, we promote 
the decoupling of natural resource consumption from eco-
nomic growth by increasing the amount of secondary 
materials that we purchase.
Social: Equity, Employability
Equal treatment and respect are the core of our corporate 
values. Our goal is to position Siemens as the inclusive 
employer of choice in all our relevant talent markets. We 
foster diversity, equity, inclusion, and community develop-
ment in order to create a sense of belonging and a healthy 
and safe environment where all our people can give their 
best. At Siemens, we invest in the education, development, 
and individual growth of our people. We maintain a strong 
focus on digital learning, employee assistance programs, 
and occupational health and safety.
Governance: Ethics, Governance
At Siemens, we believe that the way we do business is as 
important as our business success. Our values and ethical 
principles are embedded in our Business Conduct Guidelines, 
which are mandatory throughout the company. In addition 
to embedding these principles in our own management 
systems, we extend them to our suppliers who are required 
to follow a comprehensive Code of Conduct. Beyond that, 
we have made sustainability criteria an integral part of our 
long-term variable compensation programs1 for both the 
Managing Board and our senior management.2
The DEGREE sustainability framework applies to Siemens AG 
apart from Siemens Healthineers (SHS), which is an indepen-
dent stock-listed company. In its sustainability concept, SHS 
pursues the same values as Siemens AG, because they repre-
sent our expectations as the majority shareholder. SHS’s own 
sustainability approach is described in a dedicated report.
 OUR DEGREE SUSTAINABILITY FRAMEWORK
1	
Assessment based on the Siemens internal ESG/sustainability index, which is based 
on customer satisfaction (Net Promoter Score), CO2 reduction, and digital learning 
hours.
2	
Siemens without SHS.
SIEMENS SUSTAINABILITY REPORT 2023 
19
1.3 Strategy

Pages 20 – 30  
Our sustainability  
management
SIEMENS SUSTAINABILITY REPORT 2023 
20

–	 Materiality assessment based on GRI 2021
–	 15 material sustainability topics of the greatest 
­relevance to Siemens 
–	 Material impacts, risks, and opportunities as part 
of our strategic considerations
Key topics as guiding principles
Our materiality assessment is based on external frameworks 
like the UN Global Compact and the Standards of the Global 
Reporting Initiative (GRI 2021), which are the foundation for 
our reporting. The key topics covered in this report are struc-
tured based on ESG.
Materiality assessment
We updated our materiality assessment with an emphasis 
on our industrial businesses Digital Industries, Smart Infra-
structure, and Mobility in fiscal 2023 based on the GRI 2021 
standards. Our aim was to identify our company’s key eco-
nomic, ecological, and social impacts on the environment 
and society in accordance with the updated GRI Standards. 
The resulting topics also align with Siemens Healthineers’ 
(SHS) material topics, which were determined in an indepen-
dent materiality assessment.
The material topics form the framework for implementing 
sustainability in the company – at the central corporate 
level, in our business units, and in the countries. Siemens 
strives to continuously improve sustainability management 
and understands the materiality assessment to be a prereq-
uisite for identifying and managing potential opportunities 
and risks. The Siemens business units derive their key action 
areas from the requirements and basic conditions of their 
local markets.
2.1
Materiality assessment
Identifying and prioritizing the topics 
In 2023, Siemens conducted internal workshops to help 
identify our material topics by assessing their impacts, risks, 
and opportunities from two different perspectives:
	
→Inside-out perspective:
Siemens took a closer look at its positive and negative 
impacts on the environment and society (inside-out) caused 
by the company’s business activities. 
During the inside-out assessment, we identified actual and 
potential positive and negative impacts for 17 sustainability 
topics and evaluated them according to their likelihood and 
their severity. Based on evaluations of the individual impacts, 
our material topics were derived. These topics are the foun-
dation for determining the content of the GRI report. Including 
the outside-in perspective (see below) does not alter the 
results.
The material topics where Siemens can exert the greatest 
influence on society and the environment are climate action, 
social and ecological standards in the supply chain, and 
­sustainable product design and lifecycle management. These 
topics received the highest scores in this year’s analysis.
	
→Outside-in perspective:
The outside-in perspective refers to sustainability topics that 
can be associated with opportunities and risks for the 
­company’s business activities or financial situation. This 
perspective was taken into account in the inside-out per-
spective in order to introduce the double materiality principle 
of future regulation.
The material sustainability topics with the highest degree of 
influence on our business activities and the generation of 
lasting value are climate protection and sustainable product 
design and lifecycle management.
SIEMENS SUSTAINABILITY REPORT 2023 
21
2.1 Materiality assessment

Result of the materiality assessment
We identified 15 material sustainability topics of the greatest 
relevance to Siemens from both perspectives. “Waste and 
hazardous substance management” and “Employee develop-
ment” were determined in fiscal 2023 to be two additional 
material topics. The two topics “Responsible governance” 
Sustainability topics
SDGs
DEGREE
Climate action1
 
 
 
 
 D ECARBONIZATION
Innovation and business model
 
 
 
 
 
 
 
 
 
 
 D ECARBONIZATION
R ESOURCE EFFICIENCY
 G OVERNANCE
Cybersecurity and data management
 
 
 
 
 E THICS
Social and ecological standards in the supply chain
 
 
 
 G OVERNANCE
Corporate governance and sustainability leadership
 
 
 
 G OVERNANCE
Partner management and collaboration
 
 
 
 
 
 
 
 G OVERNANCE
 D ECARBONIZATION
ESG risk management
 
 
 
 
 
 G OVERNANCE
 E THICS
Compliance management
 
 
 
 
 
 G OVERNANCE
 E THICS
Sustainable product design and lifecycle management1
 
 
 
 
 
 
 
R ESOURCE EFFICIENCY
Waste and hazardous substance management
 
 
 
 
R ESOURCE EFFICIENCY
Sustainable handling of natural resources and  
material efficiency
 
 
 
 
 
 
 
R ESOURCE EFFICIENCY
Diversity, equity, and inclusion
 
 
 
 
 
 E QUITY
Future of work
 
 
 
 
 
 E QUITY
 E MPLOYABILITY
Employee development
 
 E QUITY
 E MPLOYABILITY
Employee health and safety
 
 
 
 E MPLOYABILITY
Siemens’ material sustainability topics are clearly linked to the United Nations’ Sustainability Development Goals (SDGs). 
They also serve as the basis for our considerations related to the DEGREE sustainability framework as well as our overall 
­portfolio strategy and customer considerations.  STRATEGY
and “Innovation and business model” were merged into one 
combined topic, “Innovation and business model.”
The alignment of our material sustainability topics with the 
GRI framework and the SDGs can be found here: 
 ANNEX GRI INDEX, 
 ANNEX SUSTAINABLE DEVELOPMENT GOALS
1	
Top 2 material sustainability topics.
SIEMENS SUSTAINABILITY REPORT 2023 
22
2.1 Materiality assessment

–	 Responsibility for sustainability at Siemens lies 
with the Managing Board and Chief Sustainability 
Officer, supported by the Siemens Sustainability 
Board 
–	 The Sustainability Executive Committee is our 
guidance body for Siemens’ sustainability business 
with a focus on portfolios, market segments, and 
go-to-market topics
–	 ESG criteria are included in the compensation 
­system for members of the Managing Board and 
senior managers
At Siemens, sustainability is rooted in all that we do, includ-
ing our business purpose and strategy, corporate culture, 
processes, and guidelines. The management of sustainability 
matters is embedded across our Siemens businesses, Service 
and Governance units, and countries. Sustainability has also 
been an integral component of management compensation 
since fiscal 2020. Put simply, we strive to make sustainability 
everyone’s responsibility at Siemens.
Foundation: Corporate governance
We believe that compliance with recognized principles of 
corporate governance is the cornerstone of sustainability-­
based corporate management. Siemens AG is governed by 
German corporate law, under which it has a two-tier board 
structure consisting of a Managing Board and a Supervisory 
Board. 
As the top management body, the Managing Board is 
responsible for serving the company’s best interests and for 
achieving sustainable growth in company value. The Managing 
Board members are responsible for the entire management 
of the company and decide on key issues of business policy 
and corporate strategy. 
The Supervisory Board oversees and advises the Managing 
Board in its management of the company’s business. The 
2.2
Sustainability governance and organization 
Supervisory Board meets regularly to discuss business devel-
opment, planning, strategy, and the implementation of that 
strategy. 
More detailed information on the structure and responsibilities 
of the Managing Board and Supervisory Board can be found 
in the 
 SIEMENS FINANCIAL REPORT FOR FISCAL 2023, COMBINED 
­MANAGEMENT REPORT, CORPORATE GOVERNANCE STATEMENT
Clear organizational structure and 
responsibilities
In 2023, we significantly strengthened our sustainability 
organization throughout the company by introducing the 
Sustainability Executive Committee (EC SUS) and Heads of 
Sustainability in key businesses and business units, and we 
increased the responsibility of the Global Head of Sustain-
ability (Global Head of SUS) and the Siemens Sustainability 
department.
The Managing Board addresses sustainability-related risks 
and opportunities of strategic and company-wide impor-
tance and adopts appropriate measures. The Managing 
Board also approves any changes to the DEGREE sustainability 
framework.
The Siemens Sustainability Board (SSB) monitors and 
resolves Siemens’ sustainability topics, including tracking 
the progress of our DEGREE ambition, providing input and 
guidance on sustainability reporting, and acting as a catalyst 
for regional sustainability initiatives with the potential to 
scale across Siemens. The SSB is composed of representa-
tives from Siemens’ businesses, countries, and Service and 
Governance units. The SSB meets four times per year or 
more frequently as needed. The SSB provides updates and 
recommendations to the Managing Board. 
The Sustainability Executive Committee (EC SUS) acts as 
guidance body for Siemens sustainability business – the 
Siemens portfolio that enables positive sustainability impact 
SIEMENS SUSTAINABILITY REPORT 2023 
23
2.2 Sustainability governance and organization

by addressing and financing (i) decarbonization and energy 
efficiency, (ii) resource efficiency and circularity as well as 
(iii) people centricity and social impact – with a focus on 
portfolio market segments and go-to-market topics, and it 
meets on an ad hoc basis to discuss relevant subjects. 
Chaired by Siemens’ CEO, the EC SUS includes Siemens’ Chief 
Sustainability Officer, the CEOs of key businesses, Chief 
Strategy Officer, General Counsel, and Global Head of SUS.
The Chief Sustainability Officer (CSO) oversees Siemens’ 
sustainability topics. The CSO is a member of the Siemens 
Managing Board, chairs the Siemens Sustainability Board 
(SSB), and is a member of the Sustainability Executive Com-
mittee (EC SUS). The CSO is also responsible for the Siemens 
Sustainability department.
The Global Head of Sustainability (Global Head of SUS) leads 
the Siemens Sustainability department. In this capacity, the 
Global Head of SUS reports to the CSO on all Siemens sus-
tainability topics excluding sustainability business and 
related strategy topics. For the latter topics, the Global Head 
of SUS reports to Siemens’ CEO. The Global Head of SUS is a 
regular member of the SSB. The Global Head of SUS regularly 
informs the Supervisory Board on sustainability matters.
The Siemens Sustainability department is responsible for 
developing our DEGREE sustainability framework in coordi-
nation with the SSB, businesses, Service and Governance 
units, and countries and controlling the DEGREE target 
achievements. Responsibility for sustainability reporting and 
the Net Zero Operations Program1 also lies with the Sustain-
ability department. It also governs the purchase of carbon 
offsets and the Sustainability Risk Due Diligence Process2. 
The Sustainability department also supports sustainability 
initiatives with scalability across Siemens. This includes 
developing the processes, training, and tools needed to 
address overarching sustainability topics for our countries, 
businesses, and Service and Governance units in collaboration 
with other Siemens organizations. Finally, the Sustainability 
department is responsible for developing strategic consider-
1	
Siemens has established the Net Zero Operations Program, which is comprised of a 
series of greenhouse gas (GHG) emission reduction initiatives targeting real estate, 
production, our vehicle fleet, and related topics to address our commitment to GHG 
reduction under the DEGREE ambition “Net Zero Operations by 2030.” For more 
details, see chapter 4.1 Climate action.
2	
Siemens has established the Sustainability Risk Due Diligence Process to ensure 
that environmental, social, and associated human rights and reputational risks 
­(Sustainability Risks) are appropriately assessed and mitigated. The Sustainability 
department, as the governance owner, has established minimum company-wide 
standards for the Sustainability Risk Due Diligence Process in our customer-related 
business that are applicable to the businesses and SFS.
ations for the Siemens sustainability business in alignment 
with the Managing Board, EC SUS, and the CEOs. 
CEOs are ultimately responsible for all sustainability topics in 
their area of responsibility. This includes responsibility for 
the sustainability business, implementation of DEGREE, 
sustainability reporting, the Sustainability Risk Due Diligence 
Process, and other related responsibilities. 
The CEOs of Digital Industries, Smart Infrastructure, Siemens 
Mobility, and Siemens Financial Services (SFS) are supported 
by their respective Heads of SUS to achieve their sustainability 
mandates. The Heads of SUS also assist the Global Head of 
SUS with their responsibilities in the Sustainability depart-
ment, as they pertain to their businesses. Heads of SUS have 
a governance reporting line to the Global Head of SUS in 
addition to their reporting line to their respective CEOs. The 
Heads of SUS are appointed by the respective CEOs, in align-
ment with the Global Head of SUS.
In addition, the CEOs of the business units in Digital Indus-
tries, Smart Infrastructure, Siemens Mobility, and SFS each 
appoint Sustainability Managers who have a governance 
reporting line to the Heads of SUS and to their reporting line 
to their respective CEOs.
Lead Country SUS Managers support their respective Lead 
Country CEOs and their assigned countries. They also lead 
Siemens’ sustainability topics within the scope of responsi-
bility of the Lead Country management.
Our Service and Governance units are responsible for the 
ongoing development of sustainability-related topics within 
their own mandate in line with the DEGREE sustainability 
framework and regulatory and organizational requirements.
Lastly, Sustainability Risk Due Diligence Subject Matter 
Experts are appointed by and support Digital Industries, 
Smart Infrastructure, Siemens Mobility, and SFS to responsibly 
conduct the Sustainability Risk Due Diligence Process.
SIEMENS SUSTAINABILITY REPORT 2023 
24
2.2 Sustainability governance and organization

Progress on DEGREE ambition #5:  
Long-term incentives based on ESG criteria
Siemens grants long-term variable compensation in the 
form of Stock Awards. Long-term variable compensation 
represents at least 30% and at most 42% of total target 
compensation. Since fiscal 2020, allocated Stock Awards 
depend on a comparison of total shareholder return 
(TSR) with an international sector index (the MSCI World 
Industrials Index) and on an internal ESG/Sustainability 
index, weighted at 20%, with three equally weighted 
indicators. The ESG indicators reflect relevant strategic 
and socio-political topics. For the Stock Awards Tranche 
2023, which was awarded in November 2022, these 
indicators include CO2e emissions, digital learning 
hours, and the Net Promoter Score (NPS) for measuring 
customer satisfaction. These criteria are applicable to 
Managing Board members of Siemens AG and all senior 
managers globally who are eligible for Stock Awards. 
Progress
Siemens without SHS
Sustainability reflected in management 
compensation
The current compensation system for the members of the 
Managing Board of Siemens AG has been in place since fiscal 
2020. It incorporates long-term performance incentives 
based on ESG criteria and is defined under the field of action 
Governance in our DEGREE sustainability framework. We 
assess the Managing Board’s performance against Siemens’ 
internal ESG/Sustainability index. Targets include CO2e 
­emissions, digital learning hours, and the Net Promoter 
Score (NPS) for measuring customer satisfaction. Additional 
sustainability matters are also defined as individual targets 
for short-term variable compensation (bonuses).
 SIEMENS FINANCIAL REPORT FOR FISCAL 2023, COMBINED MANAGEMENT 
REPORT, COMPENSATION REPORT 2023
CEOs in businesses and lead countries are responsible for anchoring sustainability in their organizations
Overview of roles and responsibilities
G
overnance
Supervisory Board
Managing Board incl. Chief Sustainability Officer
Business and SFS
Service & Governance units
Countries
Siemens Sustainability Board
Sustainability Executive Committee
Sustainability Organization incl. Global Head of Sustainability
ESG criteria anchored
SIEMENS SUSTAINABILITY REPORT 2023 
25
2.2 Sustainability governance and organization

–	 Close collaborations with our stakeholders
–	 Partnerships are key to long-term sustainable 
­business success
–	 Siemens is an active member of numerous business 
associations and organizations
Siemens operates in nearly every country in the world. We 
work with our customers to find innovative solutions to 
some of the world’s most pressing issues. We believe that 
close collaboration with our stakeholders enables us to make 
serious progress on complex sustainability challenges. We 
maintain a consistent dialog with all our stakeholders, 
including customers, investors, suppliers, our people, 
­communities, policymakers, media, non-governmental 
organizations, business organizations, and academia. In 
addition, our DEGREE sustainability framework is also based 
on a 360-degree stakeholder approach.
In dialog with politics and society
Our Managing Board, CEOs, and governance departments in 
our business units oversee stakeholder engagement. The 
overall responsibility for Siemens’ dialog with policymakers 
lies with our Managing Board, which has given the Govern-
ment Affairs department a mandate for company-wide 
coordination tasks and the corresponding governance 
responsibilities. Within the business units, the unit’s CEO is 
responsible for a coordinated dialog with the policymakers.
The way that regulations and legislation are shaped has in 
many cases impacted Siemens and our products and solu-
tions. Therefore, we believe that maintaining an ongoing 
dialog with political decision-makers is crucial for our 
­company’s success and for our commitment to sustainability. 
We prioritize our activities based on our business strategies 
and innovation fields. As a result, our advocacy activities 
focus on but are not limited to the following topics: cyber­
security, digitalization, climate protection, energy, R&D, 
2.3
Partnerships and collaborations  
for sustainability
non-financial reporting legislation, trade policy, and con-
nected and automated mobility for rail and road.
Our political involvement is guided by strong principles:
→	We are politically neutral and take a zero-tolerance 
approach to corruption, violations of fair competition 
principles, and other breaches of applicable law and 
internal regulations. 
→	Siemens does not make political donations or contributions 
to politicians, political parties, or political organizations. 
→	Any contributions that support purely political purposes 
or the representation of political interests – for example, 
election events for political campaigns – are prohibited by 
our internal guidelines.
Engagement in associations and organizations
Siemens is a member of numerous business associations and 
other organizations, some of which advocate for their mem-
bers’ interests in the political arena. Selected examples of 
the most important memberships are: 
→	The International Chamber of Commerce (ICC)
→	The German Mechanical Engineering Industry Association 
(VDMA)
→	The German Electrical and Electronic Manufacturers’ 
Association (ZVEI)
→	The European Round Table for Industry (ERT)
→	The U.S. Chamber of Commerce 
→	The European Chamber of Commerce in China (EUCCC) 
More information on political activities at Siemens can be 
found on our 
 GOVERNMENT AFFAIRS website. 
We have joined forces with leading companies from around 
the world to establish the Charter of Trust, which aims to 
make the digital world safer and more secure.
 WWW.CHARTEROFTRUST.COM 
SIEMENS SUSTAINABILITY REPORT 2023 
26
2.3 Partnerships and collaborations for sustainability

We also support the goal of achieving a carbon-neutral 
Europe by 2050, which was announced as part of the Euro-
pean Green Deal. We will achieve this through a variety of 
commitments, including our active memberships in the 
 EUROPEAN ALLIANCE TO SAVE ENERGY and the 
 EUROPEAN GREEN 
DIGITAL COALITION.
We work closely with the Organization for Economic Cooper-
ation and Development (OECD), the United Nations (UN), 
the European Union, and the World Economic Forum (WEF). 
Siemens participates in a number of WEF initiatives, including 
the WEF CEO Climate Leaders Coalition. We also cooperate 
with the United Nations, for instance, as part of our commit-
ment to the Ten Principles of the United Nations Global 
Compact (UNGC). On several environmental issues, we support 
the United Nations Framework Convention on Climate 
Change (UNFCCC) and the UN Climate Change Conferences, 
and we are actively involved in the CEO Water Mandate. We 
have also joined the World Bank’s Carbon Pricing Leadership 
Coalition (CPLC), and we advocate for the global introduction 
of carbon pricing. We are likewise committed to the UNGC 
Women’s Empowerment Principles and have signed the 
Diversity Charter, an initiative by the German government.
For over ten years we have supported One Young World 
(OYW), a non-profit organization that supports young busi-
ness leaders around the globe to build a better world with 
more responsible, more effective leadership. At the 2023 
OYW Summit in Belfast, we championed this event by send-
ing more than 45 of our Siemens colleagues to participate.
Siemens collaborates with numerous partners globally 
across the topics of decarbonization and energy efficiency, 
resource efficiency and circularity, and people-centricity and 
societal impact. Our selected strategic sustainability partner-
ships are listed below.
Partnership organization
Description
Decarbonization and energy efficiency
The Climate Group 
→	 EV100 
→	 EP100
→	 RE100
The EV100 initiative expedites the shift to electric vehicles (EVs). Siemens intends for EVs to account for 
100% of its fleet by 2030. We are also investing in the establishment of charging infrastructure in the 
same timeframe. 
EP100 brings together over 125 ambitious businesses committed to improving energy efficiency. Siemens 
is committed to owning only assets that are Net Zero carbon in operation and occupying only assets that 
are Net Zero carbon in operation by 2030. 
RE100 unites hundreds of ambitious companies committed to 100% renewable electricity. Siemens is 
­committed to reaching this target by 2030. 
United Nations 
→	 Conference of the Parties (COP)
→	 Global Compact (UNGC) Working 
Group on Climate
The United Nations Conference of Parties (COP) is the world’s highest decision-making body on climate 
issues. COP connects stakeholders from politics, society, and business for discussions about the global path 
to Net Zero. COP provides a unique opportunity to showcase Siemens as a multiplier of change that 
empowers customers and societies to drive their sustainability transformation. The 28th session of the 
COP was held in Dubai, UAE in 2023.
The United Nations Global Compact (UNGC) is the world’s largest corporate sustainability initiative. It calls 
for companies to align their strategies and operations with universal principles on human rights, labor, 
environment, and anti-corruption. Siemens is active in the UNGC’s Working Group on Climate. 
U.S. Department of Energy (DOE) 
Better Buildings initiative
Better Buildings is an Initiative of the U.S. Department of Energy (DOE) that is designed to improve the 
lives of the American people by driving leadership in energy innovation. Siemens is an active participant in 
the initiative’s Better Climate Challenge.
The World Bank Carbon Pricing  
Leadership Coalition (CPLC)
The Carbon Pricing Leadership Coalition (CPLC) brings together leaders from government, the private 
­sector, academia, and civil society to expand the use of carbon pricing policies. Siemens is a member of 
the coalition and actively advocates for the global introduction of carbon pricing.
The World Economic Forum (WEF) 
→	 Alliance for Clean Air
→	 Alliance of CEO Climate Leaders
→	 ESG Practitioners
The World Economic Forum (WEF) is the international organization for public-private cooperation. Siemens 
is a founding member of the WEF Alliance for Clean Air, which brings together business leaders to measure 
and reduce value chain air pollutant emissions, invest in innovation, and work with policy­makers and 
peers to champion the social, economic, and climate benefits of tackling air pollution. 
The WEF Alliance of CEO Climate Leaders is a CEO-led community committed to defining bold climate 
goals and accelerating the Net Zero transition by setting science-based targets, disclosing emissions, and 
catalyzing decarbonization and partnerships across global value chains. 
The WEF ESG Practitioners help implement the recommendations from the WEF Stakeholder Capitalism 
Metrics in reports.
SIEMENS SUSTAINABILITY REPORT 2023 
27
2.3 Partnerships and collaborations for sustainability

Partnership organization
Description
Resource efficiency and circularity
The European Union (EU) Business 
and Biodiversity Platform
The EU Business and Biodiversity Platform provides a unique forum for dialog and a policy interface for 
­discussing the links between business and biodiversity at the EU level. Siemens is an active member of the 
Platform.
The European Union (EU) Circular 
Plastics Alliance Declaration
The EU Circular Plastics Alliance aims to boost the EU market for recycled plastics. The Alliance covers the 
full plastics value chain and includes over 330 organizations representing industry, academia, and public 
authorities. Siemens is an active member of the Alliance.
The Federation of German Industries 
(BDI) Circular Economy Initiative
The BDI Circular Economy Initiative is a network of about 60 organizations across the entire industrial 
­spectrum. Siemens is a founding member of the Circular Economy Initiative.
Responsible Minerals Initiative 
(RMI)
The Responsible Minerals Initiative (RMI) is one of the most utilized and respected resources used by 
­companies in a variety of industries for addressing responsible minerals sourcing issues in their supply 
chains. Siemens is an active member of RMI and is involved in advancing the topic of responsible minerals 
sourcing at Siemens.
People-centricity and societal impact
The European Union (EU) Agency for 
Safety and Health at Work (OSHA)
EU-OSHA is the EU’s information agency overseeing occupational safety and health at work. Siemens is a 
partner of the EU-OSHA Healthy Workplaces Campaign and is committed to championing safe and healthy 
work in the digital age.
Global Business Initiative (GBI) on 
Human Rights
The Global Business Initiative (GBI) works to shape practices, inspire commitment, and build the capability 
for implementing respect for human rights, in line with the UN Guiding Principles on Business and Human 
Rights. Siemens is an active member of the Initiative.
The International Organisation of 
Employers (IOE) Global Occupational 
and Health Network (GOSH)
The IOE GOSH is a network of more than 150 member organizations focused on improving occupational 
health and safety, providing forums to identify and, discuss emerging trends and international best practices. 
Siemens is an active member of the Network.
One Young World (OYW)
One Young World (OYW) is a non-profit organization that empowers and develops young leaders to build a 
fair, sustainable future for all. Siemens has been an active partner of OYW for over a decade, with over 500 
Siemens delegates having participated the annual OYW Summits since they began.
United Nations Global Compact 
(UNGC) European Working Group on 
Business and Human Rights
The United Nations Global Compact (UNGC) is the world’s largest corporate sustainability initiative. It calls 
for companies to align their strategies and operations with universal principles on human rights, labor, 
environment, and anti-corruption. Siemens is a member of the European Working Group on Business and 
Human Rights.
G7 and the International Labour 
Organization (ILO) Vision Zero Fund
The Vision Zero Fund is an initiative of the G7 countries aimed at preventing work-related deaths, injuries, 
and disease in sectors operating in or aspiring to join global supply chains. The ILO administers and imple-
ments the fund’s projects. Siemens was the first private sector donor to join the fund.
The World Economic Forum (WEF) 
Chief Health Officer Group
The World Economic Forum (WEF) is the international organization for public-private cooperation. Siemens 
is an active member of the WEF Chief Health Officer Group, which works to advance the overall well-being 
of the workforce.
Support for non-profit organizations 
that promote business integrity  
and the fight against corruption 
worldwide
So far we have allocated about US$120 million to 85 projects in more than 50 countries across all ­funding 
rounds. Information is available on the 
 INTEGRITY INITIATIVE WEBSITE and the 
 SIEMENS INTEGRITY 
INITIATIVE REPORT 2022.
Cross-topic partnerships
The Conference Board (TCB)
The Conference Board (TCB) is a non-profit corporate membership and research organization that organizes 
conferences and peer learning groups, conducts economic and business research, and publishes economic 
indicators. Siemens is active in multiple TCB Councils on topics like corporate sustainability, the environment, 
and well-being.
econsense
Econsense is a German economic sustainability network whose members’ objective is to actively shape the 
transition to a more sustainable economy.​ Siemens is a founding member of econsense, member of the 
Board of Trustees and the Executive Board, and an active participant in working groups on Environment, 
Climate, Disclosure and Reporting, Business and Human Rights, and Human Rights in the Supply Chain.
The World Business Council for  
Sustainable Development (WBCSD)
The World Business Council for Sustainable Development (WBCSD) is a community of over 200 leading 
organizations that are working together to take action to limit the climate crisis, restore nature, and tackle 
inequality. Siemens has actively participated in a number of workstreams, including those focused on 
­carbon accounting and reduction and the sustainable built environment.
SIEMENS SUSTAINABILITY REPORT 2023 
28
2.3 Partnerships and collaborations for sustainability

–	 Our engagement is recognized in a number of ratings 
–	 These ratings help us continuously improve our 
sustainability performance
–	 They also strengthen the comparability and trans­
parency of our sustainability performance for our 
customers and investors
Our approach to ESG ratings
We are proud that our commitment to sustainability and our 
efforts are reflected in our public assessments and ratings. 
Siemens actively participates in several sustainability ratings 
to provide our capital markets and our customers with robust 
information and support the comparability and transparency 
of our sustainability performance. Ratings also give us 
important insights that assist in our continuous improvement. 
We focus primarily on the six ratings summarized below.
Siemens continues to achieve strong results in external 
­sustainability ratings in fiscal 2023, confirming our leading 
position in the industry.
ESG ratings in fiscal 2023
MSCI
The MSCI ESG Rating scores global companies on a scale of 
AAA (leader) to CCC (laggard) based on exposure to industry-­
specific ESG risks and the ability to manage those risks rela-
tive to peers. In fiscal 2023, Siemens was given an overall 
MSCI ESG rating score of AA. In addition, Siemens is a member 
of the MSCI World ESG Index.
ISS ESG
The ISS ESG Corporate Rating evaluates companies’ ESG-­
related risks, opportunities, and impacts along the corporate 
value chain. Companies are rated from D- to A+ on their 
sustainability performance based on an absolute best-in-
class standard. For ISS ESG, Siemens again received prime 
2.4
Sustainability ratings reflect our performance
status and a B rating, the best rating in our industry (Industrial 
Conglomerates). Prime status recognizes companies for 
being one of the leaders in their respective industry.
Sustainalytics
Sustainalytics’ ESG Risk Ratings measure a company’s expo-
sure to industry-specific material ESG risks and how well a 
company is managing those risks. In 2023, we were once 
again rated as one of the leading companies in our industry 
(Industrial Conglomerates) with a risk rating of 28.4 points 
(Medium Risk).
S&P Global Corporate Sustainability Assessment (CSA)/
Dow Jones Sustainability Index (DJSI)
The S&P Global CSA is an annual evaluation of companies’ 
sustainability practices. The CSA focuses on sustainability 
criteria that are both industry-specific and financially material. 
In fiscal 2023, Siemens again ranks second among our 
industry peers (Industrial Conglomerates) with a score of 
81/100. Siemens has been listed in the Dow Jones Sustain-
ability World Index (DJSI World) for over 20 years.
EcoVadis
EcoVadis provides supplier sustainability ratings for global 
supply chains. Siemens received 77 points on its scorecard in 
2023, placing it among the top 1% of all companies assessed 
by EcoVadis in our industry. Thanks to this rating, Siemens is 
being awarded the EcoVadis Gold medal.
CDP
CDP is a not-for-profit charity that runs a global disclosure 
system that helps investors, companies, cities, states, and 
regions manage their environmental impacts. In the most 
recent CDP Climate Change Rating, Siemens’ climate efforts 
continue to be recognized with the rating score A-, which 
maintains its position at the Leadership Level of the CDP 
rating.
SIEMENS SUSTAINABILITY REPORT 2023 
29
2.4 Sustainability ratings reflect our performance

External  
sustainability 
ratings
Latest Siemens 
score
AA
B-
28.4
81/100
77
A-
Siemens  
industry rank
Leader
1st in our industry
Top 15%
Top 1%
Top 1%
Top in industry 
(industry  
average C-)
Progress from 
previous 
assessment
Unchanged
Unchanged
Improvement  
of 1.7 points
Unchanged
+7 points
Unchanged
Highlights
Leader (AAA/AA) 
for 7 years
Prime status
Strong “Carbon – 
­Products and  
Services” risk 
management
Over 20 years in 
the World Index
Gold medal
Over 10 years  
at leadership  
level (A/A-) for 
Climate Change
Siemens’ sustainability performance has received high recognition in external ratings
Siemens has also satisfied the requirements to be included in several additional ESG stock market indices
SIEMENS SUSTAINABILITY REPORT 2023 
30
2.4 Sustainability ratings reflect our performance
Additional  
ESG indices
Included in the  
FTSE4Good Index Series
Included in the  
Euronext Vigeo Euro 120 Index

Pages 31 – 53 
Governance  
Responsible Business  
Practices
Ethics
Foster a culture of trust, adhere to ethical standards, 
and handle data with care
Our key ambitions1
→	Striving to train 100% of our people on Siemens’ 
Business Conduct Guidelines every three years
	
Additional highlights: 
→	Zero-tolerance approach to breaches of applicable 
laws and our own internal guidelines
→	A global, risk-based compliance system
→	Aiming for a leading role in cybersecurity
Governance
Apply state-of-the-art systems for effective and 
responsible business conduct
Our key ambitions1
→	ESG-secured supply chain based on supplier 
­commitment to the Supplier Code of Conduct
→	Long-term incentives based on ESG criteria2
	
Additional highlights 
→	Focus on human rights within supply chain: climate 
protection, occupational safety, and responsible 
sourcing of minerals
→	Comprehensive environmental and social due 
­diligence in customer business (ESG Radar)
1	
Siemens without SHS.
2	
Assessment based on the Siemens internal ESG/sustainability index, which is based on customer satisfaction (Net Promoter Score), CO2 reduction, and digital 
learning hours.
SIEMENS SUSTAINABILITY REPORT 2023 
31

–	 Zero-tolerance approach to breaches of applicable 
laws and our internal guidelines
–	 A global, risk-based compliance system
–	 Ethics and integrity are the basis for sustainable 
business practices
Management approach
Operating with integrity and in compliance with laws and 
regulation is fundamental to stakeholder trust and our com-
pany’s continued success. Siemens and its roughly 320,000 
employees operate in multiple countries around the world. 
Our customers in both the private and public sectors serve a 
vast array of industries. Our global business operations are 
governed by numerous national legal systems and take place 
in a variety of political, social, and cultural settings that are 
constantly changing. Therefore, Siemens’ business and 
compliance environment is correspondingly complex.
The way that Siemens and our partners do business impacts 
the markets and societies where we operate. Unethical and 
unlawful conduct like corruption, cartel arrangements, and 
money laundering can distort competition, hinder economic 
development, and threaten human rights and democracy. As 
a global player, Siemens is responsible for setting an example 
in all its operations and in collaboration with all its stake-
holders. By building alliances against corruption and pro-
moting fair competition together with stakeholders from 
politics, business, and society, Siemens can through Collec-
tive Action help establish the conditions for fair competition 
and thereby promote innovation. 
Under certain circumstances, Siemens can be held liable for 
the illegal activities of third parties: for example, business 
partners acting as suppliers, intermediaries, resellers, and 
consortium partners. Transactions conducted by business 
partners can be misused to gain undue advantages for the 
business partner or for Siemens. 
3.1
Compliance and ethics
Our Compliance governance and policies 
The Siemens Compliance organization oversees our compli-
ance system and is chaired by our Chief Compliance Officer, 
who is responsible for all legal and operational aspects of 
compliance. The Compliance organization is part of Siemens 
global Legal and Compliance department. It is led by the 
General Counsel, who reports directly to our President and 
CEO.
Siemens Chief Compliance Officer reports directly to 
Siemens’ CEO on functional matters, in addition to reporting 
to the Managing Board and the Siemens AG Supervisory 
Board on a quarterly and ad-hoc basis. 
Compliance Officers in the business ensure that our Compli-
ance system is implemented worldwide. They work closely 
with employees and managers, who assume personal 
responsibility for compliance in their respective business 
units.
We believe that it is necessary for the entire management 
team to act on our commitment to compliance and ensure 
that all business decisions and transactions that fall within 
their area of responsibility comply with both the relevant 
legal requirements and our own values and company guide-
lines. 
At Siemens, we take a zero-tolerance approach to corruption 
and other breaches of applicable laws and of our Business 
Conduct Guidelines (BCGs). 
Our BCGs contain the behavioral principles and rules that 
guide our conduct, both within Siemens and in our stake-
holder relationships. They also serve as an expression of our 
values and lay the foundation for detailed internal regula-
tions. The BCGs are binding for all Siemens employees 
around the world.
SIEMENS SUSTAINABILITY REPORT 2023 
32
3.1 Compliance and ethics

We also believe that acting on the basis of our Ethical Princi-
ples allows us to focus even more on responsible business 
practices. We aspire to support the sustainable development 
of Siemens and the societies where we operate by adhering 
to responsible business practices. 
Worldwide commitment to fighting corruption 
In collaboration with other international and national orga-
nizations, we are committed to fighting corruption and 
­promoting fair competition in our markets and beyond. 
This approach is also reflected in our Collective Action 
­activities, which includes our commitment to: 
→	The United Nations Global Compact (UNGC) 
→	The World Economic Forum and its Partnering Against 
Corruption Initiative (PACI)
→	The United Nations Convention Against Corruption and 
the Organization for Economic Cooperation and Develop-
ment (OECD)’s Anti-Bribery Convention 
→	The implementation of these conventions as part of 
­Business 20 (B20)
The Ten Principles of the UN Global Compact, the OECD 
Guidelines for Multinational Enterprises, and other key 
guidelines are embedded in our BCGs and provide a founda-
tion and direction for all our activities. 
 BUSINESS CONDUCT 
GUIDELINES
“We help our customers and 
partners around the world drive 
their digital and sustainable 
transformation. Without excuses or 
exceptions, we always act ethically, 
legally, and with the highest 
integrity.”
CEO Roland Busch
The Siemens compliance system
The goal of compliance at Siemens is to ensure that our 
worldwide business practices follow the applicable laws and 
comply with the BCGs. Our Compliance organization covers 
the following activity fields:
→	Anti-corruption
→	Anti-money laundering
→	Anti-trust
→	Data privacy
→	Human rights
→	Export control
 HUMAN RIGHTS 
 CYBERSECURITY AND DATA PRIVACY
To ensure compliance throughout the company, the Siemens 
comprehensive compliance system is based on the three 
pillars of prevention, detection, and response.
Preventive measures include compliance risk management, 
preparing topic-specific guidelines and procedures, incorpo-
rating compliance requirements into business processes, our 
Collective Action activities, and providing comprehensive 
training and advice to our people. 
In addition, protected channels for reporting compliance 
violations like the “Tell Us” whistle-blower system, the 
Ombudsperson, and professional and fair investigations are 
indispensable for identifying and resolving matters of indi-
vidual misconduct. Our reporting channels also allow our 
people to submit reports anonymously.
We believe that transparent communication and clear conse-
quences help reduce and resolve incidents of individual 
misconduct. Our internal audit department also continuously 
performs compliance controls and audits to ensure that our 
compliance system is put into action and meets our world-
wide requirements.
SIEMENS SUSTAINABILITY REPORT 2023 
33
3.1 Compliance and ethics

Ethics management at Siemens
In our business activities, we are committed to going beyond 
laws and regulations. Our BCGs define how we interpret our 
responsibility, what is expected of all employees, and how 
we act as a company.
Our ethical principles have been integrated in the updated 
version of our BCGs. Responsible business conduct with all 
stakeholders and consistent consideration of Ethical Principles 
are expected in our decisions and are becoming increasingly 
important in view of the many changes and challenges in the 
world. Accordingly, we firmly anchored them in our BCGs:
→	We are honest and truthful in our dealings
→	We respect the dignity, privacy, and inherent rights of 
individuals
→	We protect the health, occupational safety, and personal 
security of our people
→	We act in line with our responsibility for the environment
→	We engage with reputable and law-abiding partners
→	We explore ethical concerns
We are committed to fulfilling these requirements in all our 
actions and decisions. In the complex environment of the 
global economy, “doing the right thing” is not always easy. 
Our new Siemens BCG training helps us to better assess 
­situations in our work environment and make the right 
decisions. We believe that by acting responsibly beyond laws 
and regulations, we can continue achieving Siemens’ success 
in collaboration with our business partners.
Ethical standards for artificial intelligence
Siemens prioritizes ethical standards and responsible busi-
ness conduct in the digital world; specifically, by protecting 
data, mitigating biases, supporting data sovereignty, and 
ensuring trustworthy and responsible AI. We implement 
safeguards for transparency, accountability, technical 
robustness, security, and safety while promoting fairness 
and accessibility.
The Siemens compliance system
Human Rights
Export Control
Data Privacy
Anti-trust
Anti-Money Laundering
Anti-Corruption
Activity fields
  
 
D
e
t
e
c
t
 
R
e
s
p
o
n
d
  
P
r
e
v
e
n
t
Management 
responsibility
SIEMENS SUSTAINABILITY REPORT 2023 
34
3.1 Compliance and ethics

Our commitment to ethical standards is demonstrated by 
integrating AI ethics into all our business processes, products, 
and solutions. This includes:
→	Applying generally accepted and trustworthy AI frameworks 
to AI tools in anticipation of the upcoming AI regulation 
in the EU. 
→	Raising awareness and providing guidance to employees 
and stakeholders on ethical implications in AI decision-­
making.
Collaboration with business partners
Each Siemens department is responsible for its own business 
partners. They must be carefully selected by the responsible 
operational department and must undergo a risk-based 
compliance due diligence process. Business partners have to 
be adequately monitored for the duration of the business 
relationship. This means that we regularly assess the need 
for the continued relationship and provision of services, 
taking into account remuneration and other relevant circum-
stances. 
We have established mandatory processes and the associ-
ated tools for this purpose that are continuously refined to 
cover any risks that may arise.
Decisions about engaging a business partner are transparent 
and risk-oriented. They are also based on the most recent 
compliance due diligence procedures. Appropriate remediation 
measures are initiated depending on the risk classification of 
the business relationship and the risks identified.
Both business partners and suppliers are required to sign a 
code of conduct. In addition, depending on their risk classi-
fication, audits can be conducted on the business partners’ 
premises by the Siemens audit function or external service 
providers.  SUSTAINABLE SUPPLY CHAIN PRACTICES
To support the compliance experts on business partner topics, 
Siemens established the Business Partners Network. This 
network operates in different workstreams, some of which 
are connected with specific projects and others that are 
related to specific questions on the subject of collaboration 
with business partners.
Preventing money laundering and terrorism 
financing
Siemens strives to only maintain business relationships with 
reputable customers, suppliers, partners, and companies 
whose business activities comply with legal requirements 
and whose financial resources are of legitimate origin. We 
use a risk-based approach to verify the identity and economic 
background of customers, suppliers, business partners, and 
other third parties and the origin of payments to ensure they 
come from legitimate sources. When necessary, Siemens 
reports suspicious activities to law enforcement authorities.
Handling of compliance cases 
At Siemens, compliance cases are handled in accordance 
with a clearly structured process that includes key steps such 
as reporting channels, internal investigations, and responses 
to identified violations (see the diagram below).
Company-wide process for handling compliance cases (simplified presentation)
Allegation received
Assessment  
carried out by 
examining or 
evaluating the 
allegation before 
mandating an 
investigation
Disciplinary 
measures and 
remediation
Mandating
Research  
and planning
Investigation
Preparation of  
the investigation 
report
Compliance  
investigation
SIEMENS SUSTAINABILITY REPORT 2023 
35
3.1 Compliance and ethics

Siemens offers a range of reporting channels to enable all 
employees and outside third parties to flag potential compli-
ance violations to the company. For instance, complaints can 
be reported by way of the protected whistle-blower system 
“Tell Us” or to the independent Siemens Ombudsperson. 
Reports received through these channels are forwarded to 
our Compliance organization. Complaints can also be 
reported directly to the Compliance Officers in our business 
units or to the senior management. Whistle-blowers at 
Siemens are protected by national laws and also by internal 
company regulations that prohibit the punishment or other 
detrimental treatment of anyone who reports a suspicious 
activity in good faith. 
Every complaint is taken seriously. If the allegations prove to 
be sufficiently plausible, the Compliance organization deter-
mines whether there is sufficient information to justify an 
internal investigation. Indications about other matters are 
forwarded to the affected Siemens department or business 
unit for further action.
Internal investigations are conducted based on binding, 
clearly defined standards to ensure the fair and respectful 
treatment of employees. These standards prohibit unlawful 
or disproportionate actions. However, if an internal investiga-
tion leads to the finding that an employee has demonstrably 
violated any laws or internal regulations, they can expect 
appropriate disciplinary consequences.
All circumstances within a compliance case, including the 
locally applicable legal environment and any participation 
rights of the competent employee representative bodies, are 
duly considered during the proceedings. 
Affected Siemens entities are obligated to implement the 
additional recommendations of the investigation reports, 
including measures to effectively remedy the situation.
Compliance risk management
To be effective, the Siemens compliance system needs to be 
continuously adjusted in order to meet business-specific 
risks and multiple local legal requirements. The findings 
from compliance risk assessments, along with compliance 
controls and audits, help us identify opportunities to further 
develop the compliance system.
The goal of compliance risk management is to detect compli-
ance risks early and take appropriate steps to prevent or 
mitigate risks. Risk assessments and tool solutions that 
­support risk evaluations are also integrated into individual 
business processes to support our employees in taking 
appropriate risk mitigation steps.
Compliance risk management is an integral part of the 
­company-wide Siemens Enterprise Risk Management (ERM) 
program 
 SIEMENS FINANCIAL REPORT FOR FISCAL 2023, COMBINED 
MANAGEMENT REPORT, 8.3.1 STRATEGIC RISKS, which provides a 
holistic view of all identified risks throughout the Group. 
Every entity and region assesses their business risks in rela-
tion to compliance risks. Current developments are also 
systematically evaluated.
As a core part of our risk management process, we collabo-
rate closely with relevant business units to identify and 
assess compliance risks within new digital business models. 
Continuous Compliance Risk Management implements a 
bottom-up evaluation of the local risk environment in each 
of Siemens’ entities on a worldwide basis in all activity fields 
defined by Compliance. CEOs, business leaders, Compliance 
Officers, and experts from every entity meet during the fiscal 
year to identify and assess compliance risks.1 The risks iden-
tified are then aggregated and presented during annual 
Compliance Risk and Performance Reviews to the Compli-
ance Management Council. The risks are documented in the 
Compliance Risk Tracking tool.
Additional information from internal data sources is included 
to provide a holistic overview of compliance risks. Cross-­
functional knowledge exchanges take place at regular 
meetings, and an annual Corporate Compliance Risk Work-
shop helps us identify and monitor emerging or changing 
risks. The results of the risk assessments are a key starting 
point for the ongoing development of our compliance system.
1	
At SHS, formal Compliance Risk Assessments are conducted every three years, with 
the last being performed in fiscal 2023.
SIEMENS SUSTAINABILITY REPORT 2023 
36
3.1 Compliance and ethics

Targets
Our ethics approach is also embedded in our DEGREE 
­sustainability framework within the field of action Ethics.
Actions and results
Progress in fiscal 2023
In fiscal 2023, we continued to make progress with our 
Siemens compliance system, including:
→	Enhancing our integrated risk management approach 
with updated technology to better continuously monitor 
and update risks. This enables us to rapidly adapt to 
­factors like emerging risks, business transformation, and 
changing regulatory and geopolitical conditions.
→	We are transforming and modernizing the technology 
that supports our compliance management system in 
order to keep pace with the digital transformation of our 
company. This includes our new cloud-based solutions, 
which we have leveraged to further streamline and auto-
mate our risk-based compliance processes and support 
data-driven holistic risk management and continuous 
control activities. With these cloud-based solutions, we 
aim to improve assurance and efficiency of compliance 
activities at Siemens.
Compliance training
To ensure that compliance and integrity are embedded 
throughout the organization, Siemens employees and the 
Compliance organization receive targeted, group-oriented, 
risk-based training on compliance topics.
Our employees learn through mandatory web-based train-
ings and non-mandatory learning products about compli-
ance topics and on the content of our BCGs. We train all our 
employees (full-time and part-time) worldwide. Employers 
of external employees are contractually obligated to comply 
with the Supplier Code of Conduct and must ensure compli-
ance by external employees as part of the onboarding pro-
cess 
We strive to train every employee worldwide on the BCGs in 
a recurring three-year cycle, according to the Ethics DEGREE 
target. The new three-year cycle started in fiscal 2023. In 
July 2023, the rollout of an update to our BCG web-based 
training began, which now includes our Ethical Principles. 
Our learning management system SABA tracks the mandatory 
training courses. The completion of training requirements is 
visible in our SABA dashboard, and detail reporting is available 
for the management on demand.
In addition, materials are regularly offered through the 
Integrity Dialog initiative. With this initiative, managers have 
an opportunity to discuss and raise awareness of current 
compliance topics with their teams.
Progress on DEGREE ambition #3: 
Striving to train 100% of our people on 
the Siemens Business Conduct Guidelines 
every three years
As part of the DEGREE sustainability framework, 
Siemens has set itself the ambition of training all 
employees on BCGs in a three-year cycle. The current 
cycle started in fiscal 2023. By end of this fiscal year the 
new BCG training “Doing the right thing!” has been 
rolled out to 71% of all active employees worldwide 
with a current KPI result of 69% newly trained employees 
in this cycle. Therefore, the DEGREE ambition for Ethics 
is on track.
Progress
Siemens without SHS
From FY 23
100% by 2025
69%
E
Ethics
SIEMENS SUSTAINABILITY REPORT 2023 
37
3.1 Compliance and ethics

Non-mandatory learning products in diverse formats are also 
presented in the form of learning paths in our global learning 
platform My Learning World.
The BCG training was rolled out to 190,000 employees 
worldwide, and 129,000 of them (approximately 68%) had 
successfully completed the training by the end of fiscal 2023.
Compliance indicators¹
Fiscal year
2023
2022
Compliance cases reported
416
363
Disciplinary sanctions
166
212
therein warnings
87
90
therein dismissals
43
74
therein other²
36
48
1	
Continuing and discontinued operations.
2	
Includes loss of variable and voluntary compensation components, transfer, and 
suspension.
We believe that the evidence demonstrates that our compliance 
system is well-designed and effectively implemented. Due to 
the nature of our business operations, the environments 
where we work, and our company’s geographic distribution, 
we do not regard the number of incidents as unusual.
More information on significant ongoing and future charges 
of corruption, antitrust violations, and other violations of the 
law can be found in 
 SIEMENS REPORT FOR FISCAL 2023, COMBINED 
MANAGEMENT REPORT, CHAPTER 8.3.4 COMPLIANCE RISKS, AND NOTES TO 
CONSOLIDATED FINANCIAL STATEMENTS, NOTE 22 LEGAL PROCEEDINGS 
Stakeholder involvement in our compliance 
approach
Compliance-related questions are included in the annual 
Siemens Global Employee Survey in order to evaluate the 
effectiveness of the compliance system within the company. 
We also use the survey to acquire a better understanding of 
the degree to which ethical conduct is embedded in our 
corporate culture. The results of last year’s survey show an 
increase in the already high approval rates3 relative to the 
perception and awareness of integrity, ethics, and responsible 
business conduct throughout the organization. 
2	
This figure includes Siemens Healthineers employees. 
3	
At the same time, the overall response rates decreased from 167,900 in fiscal 2022 to 
161,550 in fiscal 2023.
129,000
employees were trained on the content of
our BCGs in fiscal 2023
Siemens employees around the world also completed about 
461,000 training programs for specific target groups in fiscal 
2023.2
“Ethical corporate governance and 
compliance are non-negotiable. Our 
approach goes beyond strict 
compliance with laws and 
regulations by placing integrity at 
the center of our corporate culture 
and business processes.”
CEO Roland Busch
Compliance indicators and whistle-blowers
Our employees use our reporting channels regularly. A total 
of 416 compliance cases that required an inquiry or investi-
gation were reported in fiscal 2023. We believe that the 
increase in compliance cases from the previous year falls 
within the range of normal fluctuation. The total number of 
disciplinary measures imposed for compliance violations was 
166 in fiscal 2023.
The number of disciplinary measures in a fiscal year does not 
necessarily reflect the number of compliance cases reported 
in the same period. This is because disciplinary action may 
not be taken in the same year as the case was reported or 
when the investigation was completed. Furthermore, one 
compliance case may result in multiple disciplinary actions 
or none at all.
SIEMENS SUSTAINABILITY REPORT 2023 
38
3.1 Compliance and ethics

Collective Action and the Siemens Integrity 
Initiative
We believe that in order for substantial progress to be made 
in combating corruption and fostering fair competition, 
large numbers of stakeholders must act collectively. 
The Siemens global Integrity Initiative earmarks more than 
US$100 million to support organizations and projects that 
combat corruption and fraud through Collective Action, 
education, and training. 
The Siemens Integrity Initiative focuses on supporting proj-
ects that have a clear impact on the business environment, 
can demonstrate objective and measurable results, and have 
the potential to be scaled up and replicated.
So far, we have allocated approximately US$120 million for 
85 projects in more than 50 countries across all funding 
rounds. Detailed information on this subject is provided in 
the Siemens Integrity Initiative’s annual reports.
 WWW.SIEMENS.COM/INTEGRITY-INITIATIVE
US$120 million in support for 
85 projects in 50 countries
The Siemens Integrity Initiative constitutes one element of a 
2009 settlement between Siemens and the World Bank and 
another 2013 settlement between Siemens and the Euro-
pean Investment Bank (EIB).
SIEMENS SUSTAINABILITY REPORT 2023 
39
3.1 Compliance and ethics

3.2
Human rights
–	 Commitment to respect human rights in accordance 
with international standards
–	 Continuous assessment of actual and potential 
adverse impacts on people and environment 
throughout our value chain 
–	 Regular dialogs with human rights-focused external 
business coalitions
Management approach
As a global company, we are well aware of our responsibility 
to society. We are unreservedly committed to safeguarding 
and respecting human rights in every stage of the value 
chain. We understand this to be a key element of acting with 
integrity and responsible business conduct. 
The way we function in our own operations, in our supply 
chain, and in our downstream value chain may affect the 
economic development and advancement of society. 
Siemens takes a holistic approach to respecting human 
rights. We strive to continuously assess actual and potential 
adverse impacts on people and the environment and inte-
grate our findings in our company’s policies, procedures, and 
due diligence practices. Therefore, our commitment to 
respecting human rights is an integral part of our manage-
ment systems and is embedded across company functions 
and business operations globally.
Management and responsibilities
The Siemens Managing Board and the Siemens Sustainability 
Board (SSB) monitor Siemens’ actions in relation to human 
rights and our commitment to implementing the United 
Nations Guiding Principles on Business and Human Rights. 
These bodies review our progress and our challenges and 
identify opportunities for improvement. 
The Chief Compliance Officer, also appointed to serve as the 
Siemens Human Rights Officer by the Managing Board of 
Siemens AG, reports to the Supervisory Board and Managing 
Board on a regular and ad hoc basis on issues concerning 
human rights: for example, the German Supply Chain Due 
Diligence Act (LkSG), for which Legal Compliance is the 
overarching coordination body.
The SSB has assigned overall responsibility for human rights 
to the Siemens Sustainability and Compliance departments. 
Their primary task is to proactively and systematically ensure 
that respect for human rights is deeply embedded in our 
company-wide processes and decision-making. To achieve 
this, both departments regularly assess opportunities for 
improvement in accordance with international standards. 
The Supply Chain, People and Organization, Environment, 
Health and Safety, Corporate Security, and Siemens Real 
Estate departments are responsible for embedding and 
maintaining human rights-related due diligence require-
ments within their processes. This responsibility also includes 
the conceptualization and delivery of training and continuous 
learning formats.
Commitment to human rights and international 
standards
The principle of respect for human rights is firmly grounded 
in the United Nations 2030 Agenda for Sustainable Develop-
ment. Siemens believes that the 17 Sustainability Develop-
ment Goals (SDGs) can only be fully achieved if potentially 
negative impacts within the value chains are examined in 
detail and effective action is taken to counter them. In these 
efforts, we are guided by international standards that help 
companies define their approaches to human rights and 
continuously optimize them. These standards include the 
United Nations Guiding Principles on Business and Human 
Rights and the Guidelines for Multinational Enterprises 
­published by the Organization for Economic Cooperation 
and Development (OECD). They highlight the importance of 
due diligence systems that proactively identify, assess, and 
mitigate potential adverse human rights impacts.
SIEMENS SUSTAINABILITY REPORT 2023 
40
3.2 Human rights

The Business Conduct Guidelines 
Our commitment to respecting human rights is anchored in our 
Siemens Business Conduct Guidelines (BCGs) 
 COMPLIANCE 
AND ETHICS. They set out the fundamental principles and rules 
that apply to our actions relating to human rights in our 
company and with our customers, external partners, and the 
public. The BCGs are binding for all employees worldwide. In 
addition, the Siemens Group Code of Conduct for Suppliers 
and Third-Party Intermediaries (Supplier Code of Conduct), 
which is mainly focused on rules of conduct relating to 
human rights, applies to the company’s suppliers, third-party 
intermediaries, and business partners.
Beyond that, Siemens has reaffirmed its commitment to 
workers’ fundamental labor rights in an International Frame-
work Agreement signed with trade unions and employee 
representatives in 2012. This specifically includes the right 
to collective bargaining and freedom of association.
Targets
Our DEGREE sustainability framework consists of a number 
of fields of actions that address the multifaceted issue of 
human rights in the areas of G (Governance), E (Ethics), 
E (Employability), and E (Equity).1
Regarding our approach to respecting human rights, we have 
established measures that encompass our own operations, our 
supply chain, and customer-related business activities.
Continuous improvement measures
We view fulfilling our responsibility to human rights as a 
continuous improvement journey. In fiscal 2023, Siemens 
modified its policies, processes, and methods to align with 
regulatory requirements like the LkSG. We have established 
a cross-functional Committee with the aim of ensuring gov-
ernance oversight and decision-making on future measures 
related to the LkSG.
In consideration of future regulatory developments and 
increased stakeholder expectations, we strive to continu-
ously modify the company’s risk management programs and 
procedures across our value chain. 
We aim to systematically identify and assess the risk of 
human rights violations at an early stage and to mitigate 
them responsibly to the extent that they can be influenced 
by the company.
Actions and results
Human rights in our own workforce
The BCGs are an integral element of all employment con-
tracts. 
 BUSINESS CONDUCT GUIDELINES. Siemens does not tolerate 
discrimination, sexual harassment, or any other form of 
personal attack on individuals or groups. In addition, the 
principles of equal opportunity and equal treatment apply 
without restriction. We foster diversity, equal opportunity, 
and inclusion in the interest of creating an open and 
­welcoming work environment.  DIVERSITY, EQUITY & INCLUSION
Human rights in the supply chain
One of our guiding principles is to maintain sustainable 
supply chains. Siemens’ suppliers commit to upholding the 
Supplier Code of Conduct, which affirms the fundamental 
human rights of our suppliers’ employees. In fiscal 2023, we 
modified the Supplier Code of Conduct to include additional 
requirements from new regulations and prepared its rollout 
readiness for fiscal 2024.
The Code encompasses but is not limited to the following 
human rights topics:
→	Fair work conditions (pay, work hours, vacations)
→	Right to freedom of association
→	Responsibility for health and safety standards
→	Prohibition of discrimination
→	Prohibition of forced labor and child labor
→	Provision of anonymous grievance mechanisms
Siemens takes a risk-based approach to identifying potential 
risks in its supply chain. This includes Corporate Responsibility 
Self-Assessments (CRSAs) by suppliers and external sustain-
ability audits. When deviations from the Supplier Code of 
Conduct and violations of the human rights principles are 
identified, we work with suppliers to clarify how lasting 
corrective actions can be taken within a reasonable time-
frame.  SUSTAINABLE SUPPLY CHAIN PRACTICES 
In the case of severe violations, we reserve the right to 
­terminate the supplier relationship. 
 MATERIAL HUMAN RIGHTS 
RISK ISSUES IN OUR VALUE CHAIN
1	
Siemens without SHS.
SIEMENS SUSTAINABILITY REPORT 2023 
41
3.2 Human rights

Siemens’ human rights framework
I. Periodic human rights impact review process
III. Overarching pillars
Periodic review
II. Transactional human rights due diligence process
Risk identification 
How are risks in projects  
identified?
Risk assessment  
How are risks
assessed?
Risk management 
(incl. monitoring) 
What are effective
mitigation measures?
How are the material human right aspects and human rights 
risk issues for Siemens periodically identified? 
How are effective complaint channels provided?
Grievance mechanism 
Awareness
Policy and circulars
Training and competence building
Reporting and external communications
Stakeholder engagement
Risk identification
Risk management
How is awareness of human rights issues ensured at Siemens?
How is Siemens’ commitment to respecting human rights embedded  
in policies and circulars?
How do you develop target group-specific human rights training for Siemens?
How are human rights activities and issues disclosed? 
How do you build an open dialog with external and internal stakeholders?
How are risks along the value chain identified?
What are effective prevention and mitigation measures?
Human rights in customer-related business 
Siemens is committed to operationalizing systematic and 
preventive human rights due diligence along its value chain. 
This is also applicable to downstream due diligence with a 
focus on customer-related business.
We are strengthening our governance with regards to envi-
ronmental, social, and human rights due diligence in 
­customer-related business through targeted capacity-building, 
continuous due diligence tool-related enhancements (in our 
ESG Risk Due Diligence Tool, the ESG Radar), expanding 
­relevant risk indicators for risk oversight creation, embedding 
environmental and social risk considerations in the company’s 
risk management processes, and strengthening risk mitigation 
pathways with the support of external human rights expertise. 
We are also enhancing our control mechanisms with a 
­primary focus on our business sales department and contin-
uously reassessing material areas of adverse impacts – for 
example, those resulting from certain business fields – so 
that they can be embedded in our due diligence systems.
The early detection of ­environmental  
and social risks plays a key role  
in human rights due diligence.
SIEMENS SUSTAINABILITY REPORT 2023 
42
3.2 Human rights

These initiatives have been incorporated into our internal 
guidelines and policies. They have also led to the creation of 
customized roles and responsibilities within our key functions, 
our businesses, and our regions. As part of our commitment 
to responsible business conduct, we have piloted the process 
of environmental, social, and human rights deep-dive due 
diligence that will be conducted annually for established key 
business partners and strategic partners. This process has 
been piloted in fiscal 2023 and will become mandatory 
beginning in fiscal 2024.
Material human rights risks that we have identified in our 
value chain are summarized in the table below.
Compliance, and Environment, Health, and Safety (EHS). In 
fiscal 2023, we revised the mandatory BCG training for our 
people and included specifics on fundamental rights at work.
External and internal expert dialogs and regular knowledge-­
sharing are also conducted in the area of environmental 
and social risks: for example, on responsible business due 
diligence in conflict regions.
Grievance mechanism and channels
Siemens offers protected channels for reporting violations of 
external and internal rules to all our people and external 
third parties. The reports generated by these channels are 
forwarded to our Compliance organization and followed up. 
The same channels can also be used to report human rights 
violations to the company.  COMPLIANCE AND ETHICS
Networks and coalitions
We maintain a regular dialog with our peers, and we aim to 
establish mutual trust and drive a more in-depth discussion 
on human rights. This kind of dialog focuses on discussing 
challenges and solutions, addressing areas of improvement 
with regard to responsible business conduct practices, and 
identifying potential areas to join forces. We firmly believe 
that we can achieve faster, more impactful progress through 
collective action compared to acting alone.
Siemens is a member of the Global Business Initiative on 
Human Rights (GBI). This initiative is one of the leading 
international network initiatives in the field of human rights. 
Siemens is also represented in the UN Global Compact Net-
work’s European Business and Human Rights Peer Learning 
Group. In Germany, Siemens is involved in econsense2 
working groups in the areas of business and human rights 
and human rights in the supply chain.
In addition to regular dialogs with peers and think tanks,  
we engage with external human rights advisors to derive 
responsible risk mitigation pathways, training and capacity-­
building methods, and ways to strengthen due diligence 
practices. In addition, we engage with investors, sharehold-
ers, customers, journalists, rating agencies, and NGOs.
Material human rights risk issues in  
our value chain
Human rights risk issues in the supply chain 
	
›	 Fair working conditions
	
›	 Freedom of assembly 
	
›	 Discrimination 
	
›	 Forced labor
	
›	 Child labor 
	
›	 Health and safety
Human rights risk issues in own workforce 
	
›	 Fair working conditions
	
›	 Freedom of association and collective bargaining  
	
›	 Discrimination 
	
›	 Forced labor
	
›	 Child labor 
	
›	 Health and safety
Human rights risk issues in the case of  
business decisions by customers 
	
›	 Business-specific environmental and social risks1
	
›	 Country-specific risks 
	
›	 Impacts on local communities  
(e.g., Indigenous population,  
ethnic or religious minorities)
	
›	 Fair working conditions 
	
›	 Modern slavery
	
›	 Discrimination 
	
›	 Occupied territories
1	
Including in the areas of coal, oil, and gas and mining, for example.
Training and skill building
Our continuous skill building activities are geared toward 
specific target groups. Siemens provides interactive training 
formats for employees, suppliers, and global and regional 
salespeople and for specific functions like Sustainability, 
2	
econsense is a forum for the sustainable development of German business.
SIEMENS SUSTAINABILITY REPORT 2023 
43
3.2 Human rights

3.3
Sustainable supply chain practices
–	 Based on a holistic “Prevent – Detect – Respond” 
approach
–	 Evaluation of suppliers based on self-assessments 
and on-site audits
–	 Focus on human rights: climate protection and 
responsible sourcing of minerals
Management approach
Siemens procures materials and services from all over the 
world. We work with approximately 67,700 suppliers in 
around 140 countries. In fiscal 2023, Siemens purchased 
goods and services valued at just under €37 billion, the 
equivalent of about half of our total revenue. Due to the 
varying conditions in these countries, ensuring strict compli-
ance with our globally applicable sustainability requirements 
poses a significant challenge for our daily procurement 
practices.
Our purchasing activities have impacts on our suppliers, 
local communities, and the environment in our procurement 
markets. As such, we monitor and engage with our suppliers 
to drive and support their efforts to enhance sustainability 
practices. Our supplier relationships provide us with the 
opportunity to make contributions to securing jobs and 
promoting adherence to both international work and envi-
ronmental standards. Using our holistic sustainable supply 
chain management approach, we work to prevent situations 
where suppliers may be tempted to compromise the well-­
being of their workforce or violate environmental regulations.
Siemens purchased goods and 
services worth €37 billion from 
about 140 countries
Our governance and policies for strategic 
procurement
The core objectives of the strategic procurement processes are 
to sustain the company’s success by making a consistently high 
contribution to our earnings from purchases of materials and 
services, to assert high quality standards along the entire 
supply chain, to identify and exploit opportunities to create 
value through procurement competence, and to ensure 
­compliance and sustainability. Sustainability is our guiding 
principle. The sustainability initiatives we take are an essential 
aspect of the successful implementation of our programs. Our 
understanding of sustainability in the supply chain is based on 
our company values to be responsible, excellent and innova-
tive. As a Support Function in the Service and Governance 
units, Siemens Supply Chain Management has the process and 
regulation responsibilities for procurement principles.
Our mandated purchasing units take general responsibility 
for implementing and complying with Siemens’ procurement 
principles. Therefore, only mandated purchasing units are 
authorized to conclude contracts with suppliers. 
We have developed policies that describe our standards for 
suppliers in terms of their social, environmental, and ethical 
performance. They lay the foundation for guiding supplier 
selection, evaluation, and ongoing engagement.
The Siemens Code of Conduct for Suppliers and Third-Party 
Intermediaries (Supplier Code of Conduct) is designed to 
cover our sustainability requirements. Among other princi-
ples, it is based on the principles outlined in the United 
Nations Global Compact (UNGC) and our Business Conduct 
Guidelines (BCGs), which sets out the basic principles of 
sustainability for our suppliers.
The Supplier Code of Conduct requires suppliers to adhere to 
standards on:
→	Fundamental rights of employees, including a protected 
grievance mechanism for employees
→	Health, safety, and environmental protection
SIEMENS SUSTAINABILITY REPORT 2023 
44
3.3 Sustainable supply chain practices

Progress on DEGREE ambition #2: 
Net Zero supply chain by 2050,  
20% emissions reduction by 2030
In fiscal 2023, supply chain emissions decreased by 
1% compared to the baseline year 2020, reaching 
8,029 kt CO2e, with the carbon reduction measures 
implemented by our suppliers being reflected in this 
number. If the increase in purchasing volume of 
around 33% is included, CO2e emissions were however 
reduced even further in relation to the purchasing 
volume.
Progress
Siemens without SHS
Progress on DEGREE ambition #4: 
ESG-secured supply chain based on  
supplier commitment to our Supplier 
Code of Conduct
We expect our suppliers not only to contribute to the 
economic success of our company but also to ensure 
strict compliance with our sustainability require-
ments, which are summarized in the Siemens Supplier 
Code of Conduct. The obligation of suppliers to 
observe our Code of Conduct is an essential founda-
tion for fulfilling our governance ambitions bundled 
under “G” in our DEGREE sustainability framework.
Progress
Siemens without SHS
→	Zero-tolerance strategy to prevent corruption and bribery
→	Preventing purchases of conflict minerals produced in 
certain countries that yield profits for armed groups, in 
particular
→	Preventing money-laundering and terrorist financing
→	Export control and customs
→	Data protection
→	Compelling their suppliers to comply with the principles 
of our Supplier Code of Conduct
Sustainable business practices are an integral part of our 
Procurement Principles at Siemens. For instance, it requires 
the Supplier Code of Conduct to be incorporated into all 
new and extended procurement contracts. Procurement is 
responsible for ensuring that suppliers accept the Supplier 
Code of Conduct and do not depart from it. 
Targets
We expect all suppliers to commit to and follow our Supplier 
Code of Conduct. This is also reflected in our DEGREE 
­sustainability framework as a part of the Governance field of 
action.1
The Decarbonization field of action commits us to reducing 
upstream emissions in our supply chain. As part of this 
effort, Siemens has set a target to reduce CO2e emissions 
generated in our supply chain by 20% by 2030 compared to 
2020. We also aim to achieve Net Zero emissions in our 
supply chain by 2050.1
Suppliers committed
1	
Siemens without SHS.
FY 20: 8,098 kt CO2e
– 20% by 2030
– 100% by 2050
– 1%
Actions and results
Supplier management follows clear criteria
At Siemens, supply chain sustainability is supported by a 
holistic Prevent – Detect – Respond approach with the aim of 
effectively mitigating risks.
Our aim is to raise supplier awareness of the importance of 
integrating our values and meeting sustainability require-
ments. Siemens also provides web-based training on 
­sustainability and human rights in the supply chain for all 
our suppliers.
G
Governance
D
Decarbonization
SIEMENS SUSTAINABILITY REPORT 2023 
45
3.3 Sustainable supply chain practices

The supplier management process at Siemens incorporates 
strict criteria for supplier selection and qualification. When 
engaging with new suppliers, we categorize and if necessary 
proactively address potential sustainability risks based on 
these criteria. This may apply to suppliers exhibiting the 
­following risk characteristics:
→	Locations in high-risk countries
→	Products subject to the requirements for the responsible 
sourcing of minerals
→	Products and services with large carbon footprints
To identify these risk characteristics, we categorize our 
­suppliers as follows:
→	Purchased material and service fields: We classify suppliers 
based on the specific types of materials and services they 
provide. This allows us to tailor our measures to individual 
suppliers: for example, incorporating specific contract 
clauses, requesting proof of compliance, or flagging them 
for on-site audits.
→	Country risk levels: Suppliers are assigned to risk levels 
based on country-specific sustainability indicators in 
areas like legal compliance, corruption and bribery, 
human rights in the workplace, and child labor.
We centralize sustainability-related data about our suppliers 
on the SCM Sustainability Platform, which enables us to 
gather information from diverse internal and external sources. 
This includes data on carbon reduction initiatives, corporate 
responsibility self-assessments (CRSA), on-site audit results, 
and risks associated with conflict minerals. All employees in 
Siemens’ purchasing departments can access this integrated 
tool.
Information is evaluated in the platform using a point system 
and is presented visually. This uniform assessment approach 
enables sustainability to serve as a consistent evaluation 
factor throughout Siemens. It supports and complements 
local purchasing decisions with globally available supplier 
sustainability information. 
Self-assessments and site audits as control 
mechanisms
Based on the risk categories, we conduct appropriate evalu-
ations of suppliers in accordance with our risk assessment. 
These reviews range from supplier self-assessments of their 
own sustainability practices to on-site sustainability audits 
conducted by external auditors.
Corporate Responsibility Self-Assessments
CRSAs are an integral part of our supplier qualification pro-
cess. They are subject to regular review and updates to align 
them with evolving standards and regulations. As part of this 
process, potential suppliers undergo a mandatory qualifica-
tion procedure, while existing suppliers are re-assessed 
every three years. 
The number of completed CRSAs increased by about 4% from 
4,912 in fiscal 2022 to 5,096 in fiscal 2023. The number of 
agreed-upon improvement measures increased in fiscal 2023 
to 5,493, as compared to the 3,109 reported in fiscal 2022.
Corporate Responsibility Self-Assessments (CRSA)¹
Fiscal year
(Number)
2023
2022
Europe, Middle East, Africa, C.I.S.²
1,122
1,147
Americas
767
654
Asia, Australia
3,207
3,111
Total
5,096
4,912
Agreed upon improvement³
2023
2022
Legal Compliance/prohibition of corruption
and bribery
1,698
915
Respect for the basic human rights of 
employees
1,194
564
Prohibition of child labor
168
80
Health and safety of employees
1,103
879
Environmental protection
1,116
546
Supply chain
214
125
Total
5,493
3,109
1	
Self-assessments completed mainly by suppliers from non-OECD countries with a 
purchasing volume of > €50,000 per year. Questionnaires that were initiated, 
­completed, and concluded in the reporting period.
2	
Commonwealth of Independent States.
3	
Improvement measures agreed on with suppliers relate either to actual deviations 
from the Supplier Code of Conduct, structural improvements in management 
­systems, or a lack of specific processes and guidelines implemented by the supplier.
SIEMENS SUSTAINABILITY REPORT 2023 
46
3.3 Sustainable supply chain practices

External sustainability audits
From our perspective, external sustainability audits are the 
most effective means of evaluating our suppliers’ sustain-
ability performance. These audits are conducted by our 
external audit service provider and serve as a control 
­mechanism for suppliers identified as high-risk. 
External sustainability audits (ESA)
Fiscal year
(Number)
2023
2022
Europe, Middle East, Africa, C.I.S.¹
97
113
Americas
51
50
Asia, Australia
333
263
Total 2
481
426
Fiscal year
Agreed upon improvement 3
2023
2022
Legal Compliance/prohibition of corruption
and bribery
1,308
1,101
Respect for the basic human rights of 
employees
3,977
2,717
Prohibition of child labor
106
82
Health and safety of employees
3,511
2,802
Environmental protection
285
271
Supply chain
334
302
Total 2
9,521
7,275
1	
Commonwealth of Independent States.
2	
Includes audits conducted virtually as well as audits carried out by third parties at our 
suppliers based on the same standards, which are accepted by Siemens.
3	
Improvement measures agreed on with suppliers are based on actual deviations from 
the Supplier Code of Conduct, structural improvements in management ­systems, or a 
lack of specific processes and guidelines implemented by the supplier.
We slightly increased the number of external sustainability 
audits compared to fiscal 2022. In fiscal 2023, the figure 
rose by about 13% to 481 audits. This figure includes 
13 audits that we conducted virtually, where the auditor 
inspected the suppliers’ facilities by remote video. Also 
included are four audits verified by our audit service provider 
that were conducted on behalf of third parties at companies 
that also have supplier relationships with Siemens. These 
audit reports fully comply with Siemens’ requirements and 
were provided to us with the approval of the audited companies.
We also may repeat audits or conduct follow-up audits 
through our external audit service provider. Our responsible 
purchasing departments at Siemens can also agree on a 
series of improvement measures with suppliers. In fiscal 
2023, improvement measures were agreed on to address a 
variety of potential social impacts. These impacts include 
human rights and the health and safety of employees as well 
as environmental impacts like a lack of certification and 
failure to reduce CO2e emissions.
During this process, we remain committed to our supplier 
partnerships, and we work to help them improve. However, 
if problems persist, or the supplier demonstrates a lack of 
willingness to take the necessary corrective actions, we 
remove them from our supplier list. 
Suppliers can also be blocked in local systems around the 
world via our IT-based Global Master Data Management 
process for suppliers.
Sustainability topics with a specific need for action 
Two focus topics play an important role in our sustainable 
supply chain practices, given their strong connection to 
other sustainability initiatives at Siemens. These include the 
responsible sourcing of minerals and reducing CO2e emis-
sions in our supply chain.
Responsible sourcing of minerals
Siemens is working hard to prevent the use of minerals from 
areas of conflict, and high-risk areas in the supply chain that 
are covered by the risk definition set out in Annex 2 of the 
OECD’s Due Diligence Guidance for Responsible Supply 
Chains of Minerals from Conflict-Affected and High-Risk 
Areas. To support the responsible sourcing of minerals, we 
developed the Responsible Minerals Sourcing Policy, which 
is integrated into our purchasing process. This policy sets a 
uniform standard for supply chain management across the 
company. Our approach aligns with the risk-based require-
ments of the OECD’s Due Diligence Guidance.
To determine the use, sources, and origins of these minerals 
in our supply chains, we investigate the smelting plants 
involved. Siemens is a member of the Responsible Minerals 
Initiative (RMI), an organization of more than 400 industrial 
companies that provide auditing programs for smelting. We 
use the Conflict Minerals Reporting Template (CMRT) published 
by the RMI to survey our more than 2,300 relevant suppliers 
and elicit the information we need about smelters in our 
SIEMENS SUSTAINABILITY REPORT 2023 
47
3.3 Sustainable supply chain practices

supply chain that are associated with the production of tin, 
tantalum, tungsten, and gold (3TG). We share our findings 
on identified smelters with our RMI partners. The initiative 
then reviews the smelters’ certification. In this process, 
Siemens supports the smelters as they move toward the final 
audit and certification stage. Individual results are 
­communicated on the RMI website 
 WWW.RESPONSIBLE­
MINERALSINITIATIVE.ORG. 
Siemens extends its risk assessment system to evaluate 
minerals beyond the 3TG grouping using the risk definitions 
provided by the European Commission for “armed conflict,” 
“areas witnessing weak or non-existent governance and 
security,” and “[areas with] widespread and systematic vio-
lations of international law, including human rights abuses.” 
Cobalt and mica are two minerals that have been included in 
Siemens’ due diligence process. This inclusion follows the 
RMI’s development of an auditing standard and reporting 
specifications – the Extended Minerals Reporting Template 
(EMRT), designed specifically for cobalt and mica – in addition 
to the existing specifications for 3TG minerals. Siemens 
conducts supplier audits for cobalt and mica, with a particular 
focus on battery manufacturers. 
More information and the text of our Responsible Minerals 
Sourcing Policy can be found at 
 WWW.SIEMENS.COM/­
RESPONSIBLEMINERALS.
Our Carbon Reduction@Suppliers program
In our Carbon Reduction@Suppliers program, we collaborate 
with an external partner to analyze the economic data and 
model the carbon footprint of each of our suppliers. To 
facilitate this process, we utilize a web-based tool called 
supplier+s that highlights the main sources of suppliers’ 
CO2e emissions and provides guidance on how to reduce 
them. Once suppliers have completed the learning phase, 
they provide us with their primary data through the tool.
Supplier+s is based on the following methodology:
→	Suppliers are categorized into product or service categories 
and country of origin and are then assigned an industry 
average for CO2e emissions based on the calculation 
model developed by our external partner. 
→	We ask our suppliers to provide information via supplier+s 
about their implemented CO2e reduction measures and 
their overall CO2e management. Based on their responses, 
we calculate the resulting emissions reduction and the 
remaining carbon footprint of the supplier.
Positive feedback on our Carbon Reduction@Suppliers pro-
gram encouraged us to open the formerly internal tool (CWA 
Carbon Web Assessment) to external use by other companies 
in the form of the supplier+s tool. Detailed information on 
supplier+s is provided at 
 WWW.SIEMENS.COM/CARBON-SUPPLIERS.
4,324 suppliers – who stand for 43% of our Scope 3 upstream 
(tier 1) footprint – have provided us with primary data by 
taking part in our Carbon Reduction@Suppliers program. 
2,038 of them have shared their decarbonization plans with 
us by joining the supplier+s platform, which was launched in 
fiscal 2023. Based on the responses we received and calcu-
lated, there was an average reduction of 9% in the previously 
­calculated emissions for these suppliers, equivalent to a 
decrease of 464,000 metric tons of CO2e. This indicates that 
our suppliers have been more supportive in reducing our 
carbon footprint in the supply chain compared to the previous 
year’s reduction of 359,000 metric tons of CO2e. This effort 
helped reduce our Siemens Scope 3 upstream footprint 
against our baseline year 2020 by 0.9% and against the 
previous year 2022 by 3.3%.1
1	
Siemens without SHS
SIEMENS SUSTAINABILITY REPORT 2023 
48
3.3 Sustainable supply chain practices

3.4 
Cybersecurity and data privacy 
–	 Leading role in cybersecurity
–	 Global expertise and governance structures
We believe that data protection is an integral part of respon-
sible business conduct. Cybersecurity and data privacy are 
key success factors for Siemens, and for digitalization in 
general. While data privacy practices cover personal data 
from a legal perspective, cybersecurity focuses on protecting 
products, solutions, and services, information technology 
(IT), and operational technology (OT). Our primary objective 
is to maintain strong data protection and a high level of 
cybersecurity for the company and all our stakeholders.
Cybersecurity
Management approach
Cybersecurity is rapidly growing in importance
Digital systems have become indispensable in many sectors 
of the economy: for instance, in hospitals, factories, smart 
buildings, e-mobility, and connected mobility. Wherever 
sensitive data are stored, potential security threats are never 
far away. As a result, cybersecurity is one of today’s most 
relevant issues, not just for companies but for society as a 
whole. Its relevance is only expected to increase, with cyber-
security becoming crucial for helping businesses safeguard 
critical infrastructures, protect sensitive information, and 
ensure business continuity.
As one of Siemens’ strategic goals, the digital transformation 
will only succeed if Siemens can be certain that connected 
systems and the data contained within them will remain 
secure. That is why Siemens places the highest priority on 
cybersecurity.
Siemens’ products, solutions, and services contain a signifi-
cant amount of software and IT-related components and are 
often used in the context of critical infrastructures – which 
means that they can be more exposed to cyberthreats. 
­Regulatory- and customer-specific security requirements are 
increasing, and Siemens needs to address them.
Siemens takes a holistic approach to addressing cybersecurity 
in the best interest of our customers. It is essential to the 
comprehensive protection of both industry and society from 
internal and external cyberattacks.
Our cybersecurity governance and policies
The Cybersecurity Board (CSB), chaired by the Global Chief 
Cybersecurity Officer, is responsible for the implementation 
and coordination of cybersecurity throughout Siemens. The 
member of the Siemens AG Managing Board responsible for 
cybersecurity is part of the CSB, as are the Chief Cybersecurity 
Officers of each of Siemens’ businesses. 
Given the importance of cybersecurity for the senior man-
agement, the Global Chief Cybersecurity Officer reports 
directly to the responsible member of the Managing Board, 
quarterly to the entire Managing Board, and annually to the 
Supervisory Board.
The CSB provides a collaborative platform for advancing 
strategic initiatives that address security issues and establish 
cybersecurity requirements and recommendations through-
out Siemens and its affiliated companies. In addition, a 
­collaboration agreement enables the Chief Cybersecurity 
Officer at Siemens Healthineers to participate in the CSB.
Having recognized early on that cybersecurity is an integral 
part of the digital revolution, Siemens built a cybersecurity 
organization both at the corporate level and in the busi-
nesses and countries. All information security rules and 
regulations at Siemens are documented and detailed in the 
Cybersecurity Policy Framework. The framework outlines the 
roles and responsibilities and the rules and practices that 
offer a guide for how Siemens and its business units protect 
information and business processes.
SIEMENS SUSTAINABILITY REPORT 2023 
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3.4 Cybersecurity and data privacy

The Information Security Policies define the mandatory high-
level requirements and general rules for information security. 
The policies serve as blueprints for establishing and managing 
information security at Siemens. The requirements are based 
on the domains defined in Annex A of the international 
standard ISO/IEC 27001. Siemens’ cybersecurity governance 
has been ISO 27001-certified since November 2017. 
Our commitment to cybersecurity is further reinforced by 
Siemens’ participation in founding the “Charter of Trust”1 
initiative to protect data and promote cybersecurity in a 
trustworthy digital world. 
Targets
Our DEGREE sustainability framework addresses the topic of 
cybersecurity under “E” for Ethics. We are proactively working 
toward safeguarding and promoting cybersecurity at 
Siemens. To achieve this, Siemens employees need to 
­complete a web-based training on cybersecurity on an 
annual basis.
Actions and results
The Corporate Cybersecurity department and the cybersecurity 
departments in our businesses manage the following issues 
and activities:
→	Developing and implementing proactive cybersecurity 
strategies adapted to the business
→	Proactive and reactive measures for product and solution 
security and to safeguard information technology and 
operational technology
→	Risk management framework as a part of the Enterprise 
Risk Management system with clearly defined roles
→	Monitoring and reporting on the status and progress of 
cybersecurity measures and checks
→	Cybersecurity-readiness and second-line-of-defense2
→	Developing mandatory global cybersecurity awareness 
measures, annual IT cybersecurity global awareness train-
ings, and specific cybersecurity expertise
Siemens is one of the industry leaders in cybersecurity. Our 
cybersecurity performance is highly regarded, as evidenced 
by our sustainability ratings and rankings. For example, the 
Dow Jones Sustainability Index (DJSI) has ranked Siemens as 
a leading company in cybersecurity relative to our peers.
Siemens products, solutions, and services
Siemens is implementing a company-wide Product and 
Solution Security (PSS) initiative. The objectives of the initia-
tive are to formulate PSS recommendations and binding 
requirements and to apply and continuously improve them 
in all the businesses.
The PSS initiative is managed by the PSS Maturity model, a 
proprietary, standards-based model. It shows the extent to 
which the established business and design processes are 
being expanded and constantly improved in terms of their 
security activities and requirements. Evaluations are per-
formed annually at the organizational level, the results are 
discussed with each unit’s management team, and corre-
sponding improvement programs are initiated.
To further strengthen Siemens’ cybersecurity business, our 
businesses offer selected high-maturity security services to 
external customers in collaboration with the Corporate 
Cybersecurity department.
Continuing education and young talent 
development
In fiscal 2023, 95% of our employees completed the manda-
tory cybersecurity awareness training. The training cycle 
began in January 2023 and ran until the end of September 
2023. 
In addition, we offer the training “Driver’s License” to a target 
group of approximately 8,000 employees who are trained to 
apply all of Siemens’ IT/OT security guidelines. All of our 
employees also have access to continually updated training 
courses and learning opportunities on product and solution 
security through My Learning World, the Siemens global 
learning platform.
1	
https://www.charteroftrust.com/.
2	
https://www.siemens.com/global/en/company/digital-transformation/cybersecurity/
governance.html#SecondLineofDefense.
SIEMENS SUSTAINABILITY REPORT 2023 
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3.4 Cybersecurity and data privacy

Due to the growing demand for cybersecurity experts, we 
launched the CyberMinds Academy in 2022. This is a world-
wide one-year program that combines learning modules 
with professional experience designed to develop young 
talents into cybersecurity specialists.
Cybersecurity insurance and risk analysis
To protect the company and reduce the potential financial 
impact of cyber incidents, we have explored risk transfer 
options in detail. Following an international call for insurance 
bids, the currently insurable cyber risks were transferred to a 
group of insurers in fiscal 2021. The coverage emphasizes 
losses caused by incidents such like as breaches of information 
security and data privacy within Siemens or by third parties. 
The scope and limits of the risk transfer to the insurance 
market are reviewed annually.
Siemens’ Cybersecurity department has also acted to mitigate 
risk even more. For example: 
→	As industrial environments become increasingly digi-
talized, the share of software grows significantly, as does 
the number of associated vulnerabilities. To mitigate 
these risks, Siemens is automating the collection and 
distribution of information about vulnerabilities with the 
goal of offering end-to-end security for our customers. 
These efforts include our collaboration with the Common 
Security Advisory Framework (CSAF) 2.0 from the OASIS 
Consortium
→	Since 2022, Siemens has been working intensively to 
encrypt the most important data in the post-quantum 
era. As part of this work, the previous crypto algorithms 
have had be completely replaced with new methods. 
Because it is our expectation that crypto algorithms will 
need to be updated much more frequently in the future, 
the project also addresses the encryption lifecycle in the 
form of an expiration date for the classification of docu-
ments.
→	Our Zero Trust initiative, whose motto is “Never trust, 
always verify,” has been extended to fiscal 2024. The 
objective is to check every internal and external connection 
between IT/OT devices and products in real time and only 
permit trustworthy communications.
Proactive approach to handling threats and 
vulnerabilities, reactive approach to incidents
Siemens CERT3 and Siemens ProductCERT are dedicated 
teams of experienced security experts who can provide an 
immediate response to potential security threats and 
­incidents affecting Siemens’ products, solutions, services, or 
infrastructure.
Siemens CERT secures our internal infrastructure, continu-
ously monitors cyberthreats, and evaluates their potential 
impact on the company. When security incidents occur, our 
experts analyze the causes and initiate countermeasures to 
minimize harmful impacts, and the appropriate stakeholder 
groups (and the authorities, if required) are informed. 
Under the Special Vulnerability Handling program, CERT also 
takes proactive steps to support a consistently high level of 
protection by addressing potential vulnerabilities before any 
damage occurs. 
The ProductCERT team addresses security issues that affect 
Siemens products and solutions. It is the central point of 
contact for reports of security gaps in Siemens products. As 
a key partner of the Siemens business units, the ProductCERT 
team supports the entire process – from identification to 
resolution of vulnerabilities – and provides crucial informa-
tion to customers. Updated Siemens Security Advisories are 
published on a monthly basis to ensure our level of transpar-
ency. With the CSAF format, we are among the leading 
industrial manufacturers for the automated distribution of 
vulnerability information.
In addition, our Vilocify Vulnerability Services4 continually 
search for information about vulnerabilities in software and 
hardware components used in Siemens’ products and infra-
structures. As a final step, product security must be guaranteed 
by means of verification tests. To this end, we have developed 
the Siemens Extensible Security Testing Application (SiESTA5), 
which enables the dedicated identification of vulnerabilities 
in infrastructures, products, and solutions.
3	
Computer Emergency Response Team.
4	
https://www.siemens.com/global/en/products/services/digital-enterprise-services/
industrial-security-services/vilocify-vulnerability-services.html.
5	
https://new.siemens.com/global/en/products/services/cybersecurity/siesta.html.
SIEMENS SUSTAINABILITY REPORT 2023 
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3.4 Cybersecurity and data privacy

Artificial intelligence in cybersecurity
Artificial intelligence (AI) serves a crucial function in 
Siemens’ cybersecurity endeavors. The Siemens AI-based 
implementation dynamically identifies security threats by 
detecting anomalies in our network and systems. This action 
taken against security breaches helps mitigate potential harm.
AI also boosts the effectiveness of our cybersecurity proce-
dures by automating day-to-day tasks. This automation 
enables our security teams to concentrate on more intricate 
and pressing issues.
Despite the advantages, it is important to note that AI can 
also be used as a tool of cyber attackers by enhancing the 
complexity of their malicious actions. The attackers might 
harness AI to automate their attacks, evade conventional 
security systems, or even simulate human behavior to escape 
detection. 
To be well-prepared for these scenarios, we’ve established 
stringent security protocols aimed at ensuring a safe and 
responsible application of AI. Our approach helps maintain 
the integrity of our systems and shields us from potential 
risks. 
Through meticulous implementation and ongoing surveil-
lance, we intend to minimize these risks and amplify the 
benefits of AI. 
Data privacy
Management approach
Protection of personal data in the era of 
digitalization
Siemens believes that protecting the personal data of our 
stakeholders is our ethical responsibility. As digitalization 
and new technologies like artificial intelligence advance, 
data protection becomes increasingly important for our 
stakeholders and for Siemens’ success. That is why processing 
personal data in compliance with applicable data protection 
laws, including the General Data Protection Regulation 
(GDPR), is of utmost importance to Siemens. 
Our data privacy governance and policies
Siemens has established a global Data Privacy organization 
that follows Siemens’ business structure with data privacy 
responsibility residing with each business unit and country. 
Overall responsibility lies with the Chief Data Privacy Officer 
who reports directly to the CEO of Siemens AG, on an annual 
and ad hoc basis. The Chief Data Privacy Officer also issues 
the internal Siemens Data Privacy Policies. Our Corporate 
data privacy team manages and oversees regulations, 
­policies, and standards for data privacy in conjunction with 
Data Privacy Managers in the business units and countries.
Our internal Compliance Policy requires every Siemens 
employee to collect and process personal data confidentially, 
only for legitimate and predetermined purposes, and in a 
transparent manner. This requirement is also reflected in our 
BCGs, which contain a section on data privacy requiring 
every employee to comply with the data protection require-
ments of the laws and regulations within the legal systems 
where they are operating, as well as with Siemens’ policies. 
In addition, the Siemens Compliance Handbook contains 
requirements for processing personal data, for documentation, 
and for reporting incidents.
Transfers of personal data within the Group are covered by 
binding internal data protection regulations: the Siemens 
Binding Corporate Rules on Data Protection (BCR). With the 
BCR, Siemens Group companies around the world have an 
obligation to process personal data from data subjects in the 
European Union in accordance with European data protection 
standards, even when the recipient of the personal data is 
located outside the European Economic Area (EEA).
Targets
Our DEGREE sustainability framework prioritizes the careful 
handling of data under “E” for Ethics. Our overarching goal is 
a zero-tolerance approach to breaches of applicable laws and 
our own internal guidelines. We are proactively working 
toward achieving this goal by implementing our data privacy 
management system.
SIEMENS SUSTAINABILITY REPORT 2023 
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3.4 Cybersecurity and data privacy

Actions and results
Siemens’ data privacy management system
To put our data privacy measures into action throughout the 
Group, Siemens has made them an integral part of our com-
pliance system. Our data privacy management system was 
established to ensure that all our business activities comply 
with data privacy requirements and the applicable laws. The 
system specifies policies, procedures, and controls required 
by the GDPR, including data subject rights, a privacy incident 
process, mandatory trainings, audits, and keeping a record 
of processing activities.
Transparency and rights of data subjects
Our websites, digital products, and solutions include data 
privacy policy statements that inform users about processing 
steps and data subject rights. When we process personal 
data on behalf of customers, we do so under contractual 
regulations that govern how the data is handled, including 
the transfer of customer data to third parties. 
We want our people to be committed to data 
­protection and regular training 
Siemens’ employees receive regular training on how to 
handle personal data that is tailored to specific functions 
and target groups. For this purpose, we developed a web-
based data protection training program consisting of an 
“Essentials” level that is mandatory for all employees who 
process personal data as part of their job and specialized 
“Nuggets” designed for specific fields and target groups.
Assessing and fostering our privacy by design processes was 
a key focus area in fiscal 2023. Privacy by design at Siemens 
is supported by our Privacy by Design Toolkit, a software 
solution that helps process owners incorporate data privacy 
in all the stages of product development. One of the Toolkit 
modules includes data privacy questions that must be 
answered before the launch of a planned product or service. 
The toolkit is intended to integrate data privacy from the 
very beginning of a product’s development. We also rolled 
out a new privacy by design awareness training program for 
product developers in a virtual classroom, learn about and 
discuss data privacy challenges drawn from real business 
examples. As part of our global audit plan, selected Siemens 
products were also included in our data privacy audits. 
Data protection at our suppliers and partners
Data protection requirements are consistently observed and 
implemented within the Group and by our external suppliers 
and partners. Suppliers and partners undergo a preliminary 
data protection audit and are required by contract to adhere 
to data protection standards.
Documentation
Siemens documents the purpose, risk, and security standards 
applied to all the Group’s processing activities in a central 
database: the Register of Processing Activities. This register 
allows us to evaluate whether data protection law permits a 
given processing activity and to document compliance with 
the applicable laws.
Controls
All data protection requirements and measures at Siemens 
are subject to regular controls. Siemens conducts risk-based 
data protection audits of its processing activities, products, 
and services.
Treatment of data protection violations
In the event of a potential data protection violation, a rapid 
response is essential to ensuring that the violation is swiftly 
stopped and corrected. To facilitate this, Siemens has estab-
lished a global Data Privacy Incident Process that uses central 
reporting channels and aims to immediately inform all 
internal and external stakeholders (including the data 
­subjects and regulatory authorities).
Data privacy management system  
to ensure compliance with data protection 
requirements in all business processes
Data protection in our products and solutions  
(privacy by design)
Siemens wants to ensure that its products and solutions can be 
used in compliance with all relevant data protection rules. At 
Siemens, privacy by design means that compliance with the 
law, transparency, informational self-determination, data 
minimization, and data security are already applied when 
products and services are developed. Therefore, ­privacy by 
design is integrated into our product development processes. 
SIEMENS SUSTAINABILITY REPORT 2023 
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3.4 Cybersecurity and data privacy

Pages 54 – 80  
Environment  
Conservation of nature and 
resources
Decarbonization
support the 1.5°C target to fight global warming
Our key ambitions1
→	Net Zero operations by 2030, with 55% reduction 
by 2025 and 90% by 2030
→	Net Zero supply chain by 2050, 20% emissions 
reduction by 2030
	
Additional highlights
→	Part of the EP100, EV100, and RE100 initiative2 
→	Portfolio to support customers in climate protection 
→	Disclosure of Taxonomy-eligible and Taxonomy-­
aligned revenues, capital expenditures, and operating 
expenditures
Resource efficiency
achieve circularity and dematerialization
Our key ambitions1
→	Robust Eco Design approach to be implemented for 
100% of relevant Siemens product families by 2030
→	Natural resource decoupling through increased 
purchase of secondary materials for metals and 
resins
→	Circularity through waste-to-landfill reduction of 
50% by 2025 and toward zero landfill waste by 
2030
	
Additional highlights 
→	Assessment of our biodiversity footprint as founda-
tion for further improvements 
→	Improvements to energy efficiency as part of our 
Eco Efficiency @ Siemens target
→	Implementation of water strategy almost completed
1	
Siemens without SHS.
2	
Improving energy productivity (EP), use of electric vehicles (EV), and use of renewable energy (RE).
SIEMENS SUSTAINABILITY REPORT 2023 
54

Management approach
Siemens is a global company with locations all over the 
world and activities across a wide range of markets. With our 
global reach, we aim to minimize our negative impacts and 
maximize our positive impacts on the environment: from the 
production of raw materials for our products and in our 
supply chain and our own production operations to the use, 
recycling, and disposal of those products.
The significance of environmental protection is continuously 
increasing. In a rapidly growing global economy characterized 
by ongoing urbanization and rising population numbers, 
Siemens supports a number of global green transformation 
initiatives. These initiatives include the European Green 
Deal, which aims to transition to a circular economy, restore 
biodiversity, reduce pollutant emissions into the environ-
ment, reduce net greenhouse gas emissions by at least 55% 
below 1990 levels by 2030, and achieve climate neutrality by 
2050. 
As part of the New Circular Economy Action Plan, the European 
Commission proposed the Ecodesign for Sustainable Products 
Regulation (ESPR) in March 2022. This regulation aims to 
address products’ most harmful environmental impacts and 
to transition society from a linear approach to a circular 
approach to conducting business.
Our governance and policies on environmental 
protection
The Siemens’ Chief People and Sustainability Officer, a mem-
ber of the Managing Board, works to ensure that we operate 
in compliance with our environmental guidelines. Our EHS 
Principles serve as internal binding guidelines for this purpose.
Holistic environmental protection
Our internal sustainability network includes environmental 
officers at our sites and specialists in product-related envi-
ronmental protection. The Environmental Protection depart-
ment is developing programs to support Siemens’ businesses 
in their efforts to reduce greenhouse gas (GHG) emissions 
in our operations and promote resource efficiency. The 
­Sustainability department is responsible for the consolidated 
Siemens GHG reporting and our Net Zero Operations Program.
With the support of our EHS experts and sustainability officers, 
the operational managers in our global units oversee the 
implementation of environmental guidelines and programs. 
Siemens has also founded expert panels to ensure that 
environmental considerations are integral to our decision-­
making. The Global Board EHS is comprised of subject-matter 
experts who develop environmental protection measures 
and programs and provide advice to the Chief People and 
Sustainability Officer in consultation with the Siemens 
­Sustainability Board.
Siemens’ Environmental Council assesses Siemens’ environ-
mental risks, opportunities, and trends based on uniform 
criteria and reports them to the Siemens Enterprise Risk 
Management. The council is composed of environmental 
experts from our business units and countries as well as 
experts in corporate governance, environmental protection, 
supply chain, sustainability, finance, technology, real estate, 
and insurance. 
SIEMENS SUSTAINABILITY REPORT 2023 
55
Holistic environmental protection

Siemens governs all relevant ecological considerations 
through our Environmental Protection Standards. These 
policies enable us to oversee and improve environmental 
management at our sites and to involve our suppliers, service 
providers, and contracting partners through the Siemens 
Group Code of Conduct for Suppliers and Third-Party Inter-
mediaries. With these policies and activities, we extend 
environmental protection beyond our own business opera-
tions. Our environmental policies also include a commitment 
to increasingly mitigate the environmental impact of our 
products, systems, solutions, and services.
 WEBSITE ON ENVIRONMENTAL PROTECTION
Evaluating sustainability aspects is integral to our due diligence 
guidance. This means considering environmental protection 
in decisions about corporate mergers and acquisitions. 
Our environmental policies require our sites to avoid activities 
that have negative impacts on local biodiversity, conduct 
water risk analyses, and implement water protection mea-
sures. These factors are particularly important in vulnerable 
areas. The policies also include mandatory regulations for 
handling and reducing CO2e emissions and waste, especially 
landfill waste.
Lastly, we drive environmental awareness with our Business 
Conduct Guidelines and Supplier Code of Conduct, which 
include environmental protection requirements. 
 SUSTAINABLE SUPPLY CHAIN PRACTICES 
 COMPLIANCE AND ETHICS
Targets
We strive to go beyond legal requirements by managing the 
environmental impact of our business activities throughout 
the value chain. We are also aiming to increase our align-
ment with economic, ecological, and social requirements. 
This helps us to increase our customers’ competitiveness, 
while simultaneously supporting the environmental compat-
ibility of our business. In collaboration with our business 
partners, we plan to steadily reduce the environmental 
impact of our products, systems, solutions, and services. We 
do this by creating options for repair, reuse, recycling, and 
refurbishment and by minimizing our own use or consumption 
of energy, materials, and supplies – while also minimizing 
emissions.
Siemens’ environmental objectives and ambitions are 
embedded in our Eco Efficiency @ Siemens environmental 
program, the DEGREE sustainability framework, and other 
environmental initiatives. The respective targets are detailed 
in the Environmental chapters that follow.
Actions and results
Environmental management standards and 
systems
Our environmental management is based on the ISO 14001 
and 50001 standards for energy-intensive business units and 
on the IEC 62430 norm for the environmentally compatible 
design of products, systems, solutions, and services.
Our own mandatory standard aims to ensure the implemen-
tation of these norms, stating that all Siemens’ sites are 
required to have an environmental management system in 
accordance with ISO 14001. Sites must also operate in com-
pliance with existing local environmental regulations and 
our internal environmental guidelines. Internal environmen-
tal audits are conducted at least once per year to assess and 
monitor environmental protection at our sites.
As a result, all of our sites have an environmental manage-
ment system in place. At least 182 of them, of which 180 
have been audited by external auditors, have environmental 
management systems that are certified according to the 
ISO 14001 standard. This certification requires, among other 
things, that all employees whose work has an impact on the 
environment at these sites be trained in personnel- and 
location-specific environmental protection topics. 
Training on environmental protection
We are continuously working to increase and improve the 
knowledge and awareness of our employees of environmental 
protection. To this end, Siemens has implemented mandatory 
awareness trainings on environmental topics for all employees 
as it is covered in the Siemens Business Conduct Guidelines.
Our information campaigns on World Environment Day and 
Earth Overshoot Day aim to raise awareness of environmen-
tal protection in a global context. As part of the “Thank You” 
campaign, we recognize employees who have made excep-
tional contributions to environmental conservation, and we 
share their portraits and success stories on our Siemens 
World internal information platform.
SIEMENS SUSTAINABILITY REPORT 2023 
56
Holistic environmental protection

Eco Efficiency @ Siemens
Responsible Product 
Development
Clean Supply Chain
Efficient Own Operations
Products and solutions are at the core of 
our business. Evaluating our portfolio and 
applying an Ecodesign approach to rele-
vant product families supports us in selling 
eco-efficient products and solutions.
A clean supply chain is central to the journey 
of decoupling natural resource use. That is 
why we will increasingly source secondary 
materials and take action to replace regu-
lated substances according to IEC 62474.
At the heart of our environmental approach 
is our ability to efficiently manage our 
­production sites and offices – especially by 
enhancing waste management practices 
and using clean energy. 
Our Eco Efficiency @ Siemens program
Our Eco Efficiency @ Siemens program addresses environ-
mental factors specific to our products, systems, solutions, 
and services and our production. It also defines objectives 
for improving our environmental management: for example, 
by encouraging a circular economy and generally demateri-
alizing our business processes.
The program has three components. At the center of the 
Responsible Product Development program component is 
our Robust Eco Design approach. The program intends to 
introduce methods and rules for dematerialization along the 
entire value chain. The second component of the program, a 
Clean Supply Chain, aims to increase the percentage of sec-
ondary materials we use and to reduce regulated substances 
by 2030. The third component, Efficient Own Operations, 
aims to reduce environmental impacts at our own sites. 
DEGREE, Eco Efficiency @ Siemens, 
and our environmental initiatives  
give Siemens a broad range of 
­instruments to guide our objectives  
in environmental protection
Green Deal
We continue to pursue the Green Deals @ Siemens project 
with the goal of evaluating the European Union’s Green 
Deal policy and similar developments around the world and 
implementing the associated requirements. Specialized 
project groups are working to ensure that the legal require-
ments are implemented efficiently.
SIEMENS SUSTAINABILITY REPORT 2023 
57
Holistic environmental protection

4.1
Climate action
–	 Our pledge: We are making a contribution to limiting 
global warming to 1.5°C
–	 Our targets: To reduce emissions from business 
operations at Siemens without SHS by 55% by 2025 
and by 90% by 2030
–	 Net Zero operations by 2030 and in our supply 
chain by 2050
–	 Our path: Continuous reduction of emissions from 
business operations, collaboration with suppliers, 
and a portfolio that helps our customers protect 
the environment
Management approach
At Siemens, we recognize the urgency of climate protection. 
It is our top priority to contribute to the objectives set out in 
the Paris Agreement, which includes the goal of limiting 
global warming to 1.5°C above preindustrial levels. As a 
global technology company, we acknowledge that our 
activities along the value chain – including procurement, 
product design, production, and the use of our products and 
services – generate greenhouse gas (GHG) emissions (here-
after CO2e emissions). This is contributing to a global tem-
perature increase and other irreversible changes to our 
planet and ecosystems. 
The Siemens portfolio is simultaneously supporting the 
transition to a low-carbon economy. We are doing this by 
focusing on automation and digitalization, smart infrastruc-
ture for buildings with decentralized energy systems and 
charging solutions, and intelligent transportation solutions. 
For instance, our energy-efficient products and solutions can 
support the transition from fossil fuels to renewable energy 
sources, and our electrification solutions enable renewable 
grid integration and the electrification of heat and hydrogen. 
This also creates more business opportunities for Siemens.
With global temperatures rising, we are committed to help 
mitigate climate change. At the same time, Siemens is 
assessing climate-related risks and opportunities and poten-
tial measures for adapting to climate change in order to 
ensure business continuity and functioning supply chains.
Our climate-protection governance and policies
Climate-related issues are managed as part of our environmen-
tal protection management.  HOLISTIC ENVIRONMENTAL PROTECTION
For climate protection, the Environmental Protection depart-
ment supports our businesses in their efforts to reduce CO2e 
emissions in their operations. The Supply Chain Management 
department helps our business units promote decarboniza-
tion in the supply chain at our suppliers and through our 
material purchases. Our business units are responsible for 
reducing their respective emissions. The Sustainability 
department is responsible for the consolidated Siemens GHG 
reporting and our Net Zero Operations Program and defines 
the necessary management and GHG reporting approaches.
For our approach to and governance for managing climate-­
related risks and opportunities, please see our reporting on 
 TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES (TCFD).
We have pledged to aim to make an important contribution 
to the decarbonization of the global economy. We aim to 
reach this goal with the assistance of an appropriate gover-
nance structure, including strategy and risk management, 
and by acting in accordance with the recommendations of 
the Task Force on Climate-Related Financial Disclosures 
(TCFD). Our commitment to the initiatives 
 RE100 (COMPLETE 
CONVERSION TO RENEWABLE ELECTRICITY), 
 EV100 (CONVERSION OF THE 
VEHICLE FLEET TO ELECTRIC VEHICLES), and 
 EP100 (NET ZERO EMISSION 
BUILDINGS) further supports us in our efforts to achieve our 
decarbonization targets.
SIEMENS SUSTAINABILITY REPORT 2023 
58
4.1 Climate action

Progress on DEGREE ambition #1:  
Net Zero operations by 2030,  
with 55% emissions reduction by 2025 
and 90% by 2030
Compared to fiscal 2022, we reduced our Scope 1 and 
Scope 2 emissions in 2023 by 32 thousand metric 
tons of CO2e or 8%. We reduced our Scope 1 and 
Scope 2 emissions by a total of 50% since fiscal 2019. 
This reduction is primarily due to the rigorous imple-
mentation of a number of measures and initiatives, 
which are briefly described below.
RE100: 80% renewable electricity for Siemens   
EV100: 11% electric vehicles at Siemens  
EP100: There are currently 33 Siemens sites with no 
net CO2e emissions during regular operations
Progress
FY 19: 737 kt CO2e
– 55% by 2025 
– 90% by 2030
– 50%
D
Decarbonization
Targets
Our commitment to climate protection is also reflected in the 
field of action Decarbonization in our DEGREE sustainability 
framework. 
Our 1.5°C Science-Based Target
By joining the Science-Based Targets initiative (SBTi), 
Siemens has pledged to reduce emissions from its own 
operations (Scope 1 and 2) by 50% and its value chain 
(Scope 3) by 15% by 2030 compared to 2019. Our commit-
ment to the SBTi is aimed at aligning our business activities 
with the 1.5°C decarbonization pathway under the terms of 
recognized climate models to ensure that our greenhouse 
gas emissions will be consistent with the Paris Climate 
Agreement’s 1.5°C target.
Decarbonization targets for our own operations
Our Net Zero 2030 pledge
We have expanded our ambitions beyond the scope of our 
validated Science-Based Target and shortened our timeline 
for decarbonization: As part of our DEGREE sustainability 
framework (without Siemens Healthineers), we set a goal for 
all Siemens production facilities and buildings worldwide 
and our vehicle fleet to achieve a Net Zero1 carbon footprint 
by 2030. In effect, this means reducing CO2e Scope 1 and 2 
emissions in Siemens’ business operations for Siemens without 
Siemens Healthineers (SHS) by 90% by 2030, compared to 
2019. To achieve this target, Siemens has pledged to invest 
an additional €650 million in its own decarbonization efforts 
by 2030. Any residual emissions will then be balanced with 
high-quality carbon offsets that meet established standards. 
To drive additional transparency on our journey to 2030, we 
set an ambitious interim reduction target for our business 
operations at Siemens without SHS of 55% by 2025 com-
pared to 2019. 
By joining the RE100 initiative in 2021, we reinforced our 
commitment to a transition to 100% renewable energy by 
2030 at the latest. As part of our commitment to EV100, we 
are striving to completely convert our motor vehicle fleet to 
electric vehicles by 2030. Our EP100 pledge strengthens our 
commitment to only own or lease buildings that have no net 
CO2e emissions by 2030. 
1	
Siemens defines Net Zero as reducing CO2e emissions by 90% and compensating any 
residual emissions in the Net Zero target year and any CO2e emissions thereafter with 
high-quality carbon offsets. 
Siemens without SHS
Emissions reduction as part of the  
Net Zero 2030 program
(in 1,000 metric tons of CO2e for Siemens without SHS)
  Emissions   
  Carbon offsets
FY 
2019
FY 
2022
FY 
2023
FY 
2025
FY 
2030
737
402
370
332
75
–75
to  
2019
– 50%
to  
2019
– 90% 
to  
2019
– 55% 
SIEMENS SUSTAINABILITY REPORT 2023 
59
4.1 Climate action

Decarbonization targets for our upstream and 
downstream value chain
Regarding Scope 3 emissions, we are focused in particular 
on reducing emissions in our supply chain and in the use 
phase of our products. 
Therefore, we set the target for Siemens without SHS to 
reduce the CO2e emissions generated in our supply chain by 
20% by 2030 compared to 2020, and over the long term to 
achieve Net Zero emissions in the supply chain by 2050. This 
ambition is also part of our DEGREE sustainability framework. 
More details on our decarbonization targets for the supply 
chain and DEGREE KPI can be found in 
 SUSTAINABLE SUPPLY 
CHAIN PRACTICES. 
As part of our Science-Based Targets, we pledged to reduce 
our entire Scope 3 emissions, upstream and downstream, by 
15% by 2030 compared to 2019. This target also includes the 
use phase of our products (Scope 3.11 Use of sold products).
Decarbonization targets in management 
compensation
As a key element of our management approach, the reduc-
tion of CO2e emissions in our operations is embedded in the 
Long-term Incentive (LTI) compensation component for the 
Siemens senior management (without SHS). Management 
compensation incorporates long-term performance incen-
tives based on ESG criteria and is defined under Governance 
in our DEGREE sustainability framework. The assessment is 
based on the internal ESG/Sustainability index, which 
includes, among other goals, the reduction of CO2e emis-
sions.2  SUSTAINABILITY GOVERNANCE AND ORGANIZATION
Actions and results
Transparency on greenhouse gas emissions
We report our greenhouse gas emissions based on the 
Greenhouse Gas (GHG) Protocol corporate standard. Direct 
greenhouse gas emissions from our own operations (Scope 1) 
and indirect emissions from purchased electricity and district 
heating (Scope 2) are calculated for all sites. We also report 
our emissions in our upstream and downstream value chain 
(Scope 3), including emissions originating in our supply 
chains and the use of our products.
2	
Assessment based on the Siemens internal ESG/sustainability index, which is based on 
customer satisfaction (Net Promoter Score), CO2 reduction, and digital learning hours.
Greenhouse gas emissions1
Fiscal year
(In 1,000 metric tons of CO2 equivalents)
2023
2022
Scope 1
387
393
Scope 22
163
189
Sum Scopes 1 and 2
550
582
Scope 3
Purchases goods & services
9,276
9,557
Capital goods
416
458
Fuel and energy-related activities
111
137
Waste in operations
29
25
Transportation upstream
884
1,118
Business travel
227
122
Employee commuting3
105
98
Sum of Scope 3 upstream
11,048
11,515
Use of sold products
469,180
442,175
Investments
2,960
3,915
Sum of Scope 3 downstream
472,140
446,090
Total Scope 3
483,188
457,606
1	
Siemens including SHS.
2	
We calculate our emissions from electricity consumption on the basis of the CO2 
emission factors of local sites according to the market-based approach.
3	
Not part of supply chain emissions reduction.
The actions we take within our business processes along 
with focused actions in our supply chain and expanded value 
chain are key to achieving our targets. 
Using renewable energy
Even before Siemens joined the RE100 initiative, we worked 
continuously to increase the share of electricity we obtain 
from renewable sources. Our goal is to use 100% renewable 
electricity by 2030. In fiscal 2023, more than 79% of the 
electricity we purchased consisted of electricity from renew-
able sources. As a result, we reduced emissions by a total of 
454 thousand metric tons of CO2e per year compared to the 
average electricity mix. A complete conversion to renewable 
electricity is not possible yet due to regulatory restrictions in 
some countries. Through our membership in RE100, we are 
working toward the amendment of these regulations to 
make complete conversion a reality. In purchasing renewable 
SIEMENS SUSTAINABILITY REPORT 2023 
60
4.1 Climate action

electricity, we follow the purchasing guidelines of the WWF’s 
Next Generation Green Electricity initiative.
Siemens has also entered power purchasing agreements 
(PPA) to support our supply with renewable electricity. For 
instance, in Kalwa, India, we joined a joint venture that 
produces renewable electricity using photovoltaic systems. 
Another PPA with Enovos Energie Deutschland in Germany’s 
South Eifel region will consist of a total of 11 photovoltaic 
systems (currently under construction) with a total capacity 
of about 200 GWh a year. Südeifel GmbH & Co KG is respon-
sible for the planning, construction, and operation of the 
systems and for marketing the renewable electricity. Siemens 
will purchase 39.1 GWh of electricity per year beginning in 
January of 2024.
The use of biogas is another component of our decarboni­
zation strategy. This has reduced our annual emissions by 
13 thousand metric tons of CO2e compared to the use of 
conventional natural gas.
In the U.S. we’ve conducted pilot purchases of over 3.6 mil-
lion liters of sustainable aviation fuel. 
Reducing motor fleet emissions
We are working to reduce the emissions from our motor 
vehicle fleet, which comprises around 44,000 vehicles, and 
are striving to electrify it completely by 2030 as part of our 
EV100 commitment. In fiscal 2023, these emissions totaled 
about 210 thousand metric tons of CO2e.
We increased the number of electric vehicles to around 
4,100 and charging points to around 2,750 in fiscal 2023. 
In the UK, we have already made a lot of progress in creating 
an exclusively electric vehicle fleet. As a result, 23% of the 
company fleet is now all-electric, and electric vehicles 
accounted for 44% of all new car orders at the end of fiscal 
2023. 
In Germany, our commitment to electrification has seen 
progress. Of our fleet, over 1,700 vehicles are battery electric 
vehicles (BEVs). In fiscal 2023, BEVs comprised 37% of all our 
vehicle orders – a significant increase from the past aver-
ages. Initiatives to accelerate electrification, combined with 
the rollout of special-edition electric models, have led to an 
additional boost, with BEVs comprising 69% of all new orders 
from May to the end of September of 2023.
Reducing building emissions
Regarding building emissions, we are committed to only 
owning and occupying assets that are net zero carbon in 
operation by the year 2030 as part of our EP100 pledge. We 
plan to achieve this goal through various measures, includ-
ing building new CO2-neutral buildings, modernizing existing 
buildings, and leasing office space that produces the lowest 
possible emissions. Once we have exhausted all possible 
measures, we plan to purchase high-quality carbon offsets to 
compensate for the remaining emissions. Today 37 of our 
locations have no net CO2e emissions during regular operation.
We issued a guideline that defines the criteria for the 
CO2-neutral operation of new buildings and sets maximum 
permissible emissions in the supply chain and in construction 
activities. In fiscal 2023, we launched our new SRE3 Green 
Lease Guideline to improve the ESG performance of all new 
leases. Following the guideline, the renovation and expansion 
of our Texas facility is planned to reduce 90% of emissions. 
In California, a relocation led to using 58% less space and 
reducing CO2e emissions by 68 metric tons.
With our New-Normal Working Model, emissions from the 
use of our buildings and commuting will be reduced, while 
emissions from working from home increase. In total, we 
calculated emissions from category 3.7, Employee Commut-
ing, at 105 thousand metric tons of CO2e, while emissions 
created by working from home amounted to 24 thousand 
metric tons of CO2e, largely due to using IT equipment. For 
more details, see  WORKING AT SIEMENS.
Using an internal CO2e price
In the UK and Brazil, we are currently using an internal CO2e 
price to manage our decarbonization activities. In the UK, we 
raised the price per ton of CO2e in fiscal 2023 to GBP50 from 
GBP40 to create a clear pathway to increasing CO2e costs. A 
major portion of the proceeds is being used to expand the 
charging infrastructure for electric vehicles at our new office 
location in Farnborough, UK. In Brazil, a so-called shadow 
price of US$240 per ton of CO2e was established to support 
energy efficiency in buildings and factories and, for example, 
to support electrification of the motor vehicle fleet. 
3	
Siemens Real Estate.
SIEMENS SUSTAINABILITY REPORT 2023 
61
4.1 Climate action

Upstream emissions
Our upstream emissions total roughly 11 million metric tons 
of CO2e and are therefore considerably higher than the 
emissions from our own business operations. This is because 
our supply chain operations are typically more energy-­
intensive than our own operations – primarily because our 
supply chain processes raw materials. 
A detailed description of our efforts to reduce CO2e emis-
sions in our supply chain is available in 
 SUSTAINABLE SUPPLY 
CHAIN PRACTICES.
CO2e emissions in the use phase of our products
During the use phase of our products, the main source of 
CO2e emissions is electricity consumption. This means that 
the key strategies for reducing emissions during the product 
use phase aim at increasing energy efficiency and promoting 
automation and digitalization.
Our strategic focus on energy efficiency, automation, and 
digitalization in industry, electrification, buildings, and 
transportation allows us to offer our customers products 
that are highly efficient, high-quality, and long-lasting. Our 
efficient electric motors are also an important factor in use-
phase emissions.
Emissions produced in the use phase of our products will 
continuously decrease over time due to new product gener-
ations and to the ongoing transition to renewable energies 
in our users’ markets.
The use of our products sold in fiscal 2023 will generate 
469 million metric tons of CO2e over the entire expected 
product use phase (Scope 3.11 Use of sold products). We are 
using a constant emission factor over the anticipated prod-
uct use phase. Our scope 3 emissions increased due to an 
expansion of the reported portfolio as well as increased sales 
volumes. We use the final product calculation method. If we 
applied the intermediate approach instead, emissions from 
the use of our products sold in fiscal 2023 would be consid-
erably lower. These emissions are primarily created by the 
electricity used and the product’s lifespan.
Our Blue GIS portfolio is a prime example of our efforts to 
reduce emissions. The portfolio combines the advantages of 
gas-insulated switchgear with climate-friendly technologies. 
Using a fluorine-gas-free, non-toxic insulating gas reduces 
the CO2e emissions of medium-voltage switchgear through-
out their entire lifespan.
Our contribution to climate protection for our 
customers (customer avoided emissions)
To make our portfolio’s contribution to decarbonization 
more transparent, we report the amount of CO2e emissions 
that our products and solutions avoid compared to reference 
solutions. Customer avoided emissions represent the differ-
ence between the CO2e emissions of a Siemens offering and 
the CO2e emissions of a baseline or reference scenario.
Emissions from the value chain and avoided CO2e emissions  
at customers
(in million t CO2-equivalent)
11.0
0.6
189.9
11.6
472.1
~41×
Upstream  
emissions
Own operations
Cradle to gate
Use phase and 
investments
Avoided  
emissions at 
customers 
Customer avoided CO2e emissions are widely reported in the 
market; however, there is currently no universally accepted 
standard for their calculation. Therefore, approaches and 
results are often not comparable due to different definitions 
and product portfolios. Siemens is actively involved in a 
number of working groups and associations that are working 
to support the standardization of calculations and reporting 
of customer-related CO2e emissions: for example, we are 
involved with the WBCSD and the EU Green Digital Coalition.
SIEMENS SUSTAINABILITY REPORT 2023 
62
4.1 Climate action

At Siemens we have developed our own method that meets 
our standards for high-quality and transparent metrics. We 
calculate the avoided emissions for all products and services 
sold and investments made by Siemens in each fiscal year 
over the course of their entire use phase at our customers. 
This approach aligns with the accounting principles defined 
for calculating Scope 3 emissions (Scope 3.11 Use of sold 
products) in the GHG Protocol. For a detailed description of 
our methodology for calculating customer avoided emis-
sions, please see 
 REPORTING PRINCIPLES FOR CUSTOMER AVOIDED 
EMISSIONS. 
In fiscal 2023, we helped our customers avoid 190 million 
metric tons of CO2e emissions. The Siemens technologies 
that make the largest contribution to the avoidance of CO2e 
emissions at our customers are frequency converters, rail-
bound passenger and freight transportation, and building 
systems.
Avoided emissions at our customers
Fiscal Year
(in million t CO2-equivalent)
2023
2022
Siemens
190
153
When applied alone, this metric does not reflect all of our 
portfolio’s positive impacts on our partners and customers. 
Software, electrification, and automation technology and 
other “enabling technologies” play a crucial role in achieving 
global environmental goals by providing systems that sup-
port the transition to a low-carbon economy. For example, 
solutions from Smart Infrastructure can facilitate the trans-
formation to an electrification of the global energy system. 
Even though they do not show a direct decarbonization 
impact on the product level, the electrification and automa-
tion products sold by Smart Infrastructure in fiscal 2023 
contributed to the decarbonization of power generation 
systems by avoiding 4.6 million metric tons of CO2e emis-
sions. The description of our methodology for calculating 
these “enabling” customer avoided emissions can be found 
in our 
 REPORTING PRINCIPLES FOR CUSTOMER AVOIDED EMISSIONS. 
However, because there is no recognized market standard 
for a calculation methodology to quantify these enabling or 
indirect decarbonization impacts, we refrain from including 
the avoided emissions from enabling technologies in our 
overall customer avoided emissions total of 190 million 
metric tons of CO2e emissions.
Investment-related emissions
The financing solutions provided by Siemens Financial Ser-
vices (SFS) fund infrastructure projects and technologies 
that make a contribution to decarbonization. Specifically, 
SFS provides equity and debt financing solutions to support 
projects with a total installed capacity of 27,500 MW of wind 
energy, 14,900 MW of solar energy, and 2,400 MW of other 
renewable energy production technologies (including battery 
storage) worldwide. In fiscal 2023, SFS Equity Finance also 
invested in carbon removal companies to support innovative 
solutions and technologies that actively remove CO2e from 
the atmosphere.
Where SFS agreed to finance fossil power generation projects 
in fiscal 2023, its financial contributions corresponded to 
about 3 million metric tons of CO2e over the expected 
­duration of the financing of these projects (Scope 3.15 
investments).
Carbon offsets
Our internal offsetting policy has established binding guide-
lines for procuring carbon offsets. This policy aims to ensure 
consistency and quality in offset programs. The carbon off-
sets derived from projects for removing or avoiding CO2e 
emissions must meet minimum quality criteria, including 
external certification, selection based on the Oxford Offset-
ting Principles, and internal quality controls. Despite our 
high standard for all offsetting, physically reducing emissions 
remains Siemens’ top priority. We also do not deduct carbon 
offsets from our CO2e footprint in order to maintain transpar-
ency regarding our emissions. 
Shaping the climate debate and policy 
Siemens is part of a number of platforms and initiatives that 
allow us to participate in the debate on climate-related issues. 
For example, as part of the UN Global Compact Peer-Learning 
Group, we are sharing knowledge and lessons learned on 
various climate-related topics with other companies.
SIEMENS SUSTAINABILITY REPORT 2023 
63
4.1 Climate action

Beyond our various measures and activities, Siemens also 
participates in committees and associations where it advo-
cates for more changes in climate policy frameworks in order 
to support the following activities:
→	Accelerating decarbonization in all sectors through efficient 
energy use and electrification and by increasing the share 
of energy from renewable sources
→	Redesigning energy markets to ensure that adequate 
investments are made in sustainable, secure, and efficient 
energy systems
→	Driving the development of local energy production from 
renewable sources, local energy markets, and sector 
coupling
→	Accelerating the digitalization of the energy system to 
enable the integration of renewable energies, continuous 
grid optimization, and the integration of prosumers, while 
guaranteeing grid stability
→	Implementing a CO2e price that enables actual emissions-­
related costs to be integrated into business decision-­
making. The price should be high enough to trigger a shift 
to low-carbon technologies in line with the pledges made 
in the Paris Agreement (COP 21).
SIEMENS SUSTAINABILITY REPORT 2023 
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4.1 Climate action

4.2
Conserving resources
–	 Assessment of our biodiversity footprint as 
­foundation for further improvements 
–	 Accomplished energy reduction as part of our 
energy efficiency ambition
–	 Implementation of water strategy almost completed
Management approach
As a company producing a diverse array of products, systems, 
solutions, and services, and with office locations around the 
world, we strive to reduce the environmental impacts of our 
sites through the limited use of resources.
Energy is an important resource in production, and its usage 
reduction is a key strategy for decarbonization. While we aim 
to obtain all our electricity from renewable sources, we 
­recognize that even the generation of renewable electricity, 
for example, through wind turbines or photovoltaics, can 
have negative impacts on the environment because these 
systems must be manufactured, they change the local 
­landscape when in operation, and they must be disposed of 
at the end of their lifecycle. 
The emission of air pollutants like volatile organic com-
pounds (VOCs) and ozone-depleting substances (ODSs) can 
lead to ground-level ozone and have adverse health effects, 
and some are potent greenhouse gases. 
While many types of waste can be recycled or reprocessed in 
a functioning circular economy, the production of landfill 
waste contributes to land use and greenhouse gas emissions, 
and it influences local biodiversity and can cause health 
problems for people and ecosystems. By fostering recycling, 
Siemens can also reduce potential impacts in the down-
stream value chain like marine plastics pollution and in the 
upstream value chain from sourcing primary raw materials.
Water use in water-stressed areas can exacerbate water 
scarcity, degrade water quality, and harm aquatic habitats 
and biodiversity. 
Lastly, biodiversity loss is comparable to the threat of climate 
change, because it can disrupt the functioning of ecosystems, 
creating far-reaching impacts on people’s health and liveli-
hoods.
Our governance and policies for conserving 
resources
To mitigate these impacts, we made the responsible use of 
limited resources an integral part of environmental protection 
at Siemens. Information on our holistic environmental pro-
tection governance and policies can be found in 
 HOLISTIC 
ENVIRONMENTAL PROTECTION. 
Targets
Our commitment to conserving resources is also reflected in 
the field of action Resource efficiency in our DEGREE sustain-
ability framework. 
The component Efficient Own Operations of our Eco Effi-
ciency @ Siemens program aims to reduce the environmental 
impact of our sites through dematerialization and circular 
economy principles. We focus on improving our energy effi-
ciency and reducing the environmental impact of the waste 
we generate. When it comes to environmentally responsible 
energy use, we focus on reducing emissions from power 
generation in addition to minimizing energy consumption 
itself. As part of our commitment, we aim to improve our 
overall energy efficiency by 10% by 2030 compared to 2021.1 
Building on the success of previous reduction initiatives, our 
target is to achieve a 50% reduction in landfill waste by 2025 
compared to fiscal 2021 as we progress toward zero landfill 
waste by 2030. Additionally, we want to continuously 
increase our material recycling rate by 2030.1 
1	
Siemens without SHS.
SIEMENS SUSTAINABILITY REPORT 2023 
65
4.2 Conserving resources

In addition to our Eco Efficiency @ Siemens program, we 
actively pursue resource conservation through other initia-
tives. We have implemented initiatives to manage our envi-
ronmental impact in areas like water, air pollutants, and 
biodiversity. Currently, we have specific targets for water and 
air pollutants at some of our sites. 
The global goals of the Eco Efficiency @ Siemens program 
are converted into local targets and measures implemented 
by our sites’ environmental and energy management systems. 
Actions and results
Energy management and energy efficiency 
For energy-intensive units, we adhere to the ISO 50001 
standard, which aims to ensure the effective management of 
energy consumption in our operations. Currently, 45 Siemens 
sites have implemented energy management systems com-
pliant with ISO 50001. This also requires our sites to conduct 
regular internal and external energy and carbon audits.
To calculate energy efficiency, we analyze our energy con-
sumption in relation to sales development. Due to reduced 
energy usage by 9.1% and a growth in sales, we increased 
our energy efficiency by 39%1 in fiscal 2023 compared to 
fiscal 2021. 
39%¹
improvement of efficiency in primary & 
secondary energy use compared to 2021
When looking at Siemens’ total energy consumption, we 
differentiate between primary and secondary energy. Our 
primary energy consumption declined 16.5% in fiscal 2023. 
Our consumption of natural gas and liquid petroleum gas 
declined 22.2% compared to the previous fiscal year. With 
continuing gas shortages, this was a special focus for 
Siemens in fiscal 2023. To determine energy consumption by 
our company vehicles, we calculated the consumption of all 
cars used by employees and for services and our trucks. In 
fiscal 2023, the company fleet consumed about 2,894 thou-
sand gigajoules of fuel, which is a 1% decrease from the 
previous fiscal year. 
Secondary energy consumption means the purchase of 
electricity and district heating at our sites worldwide. Over-
all, the consumption of secondary energy decreased by 2.8% 
compared to the previous year. Our electricity consumption 
now stands at 5,586 thousand gigajoules. 
Progress on DEGREE ambition #8:  
Circularity through waste-to-landfill 
reduction of 50% by 2025 and toward 
zero landfill waste by 2030
Landfill waste is the type of waste with the greatest 
environmental impact. That’s why we want to reduce 
both our hazardous and our non-hazardous landfill 
waste by 50% by fiscal 2025 compared to fiscal 2021 
and have included these ambitions in our DEGREE 
sustainability framework as well as the Eco Efficiency 
@ Siemens program. With the aid of worldwide work-
shops, we have developed and implemented measures 
to improve our waste management. Compared to the 
base year 2021, we reduced our landfill waste by 15%. 
Progress
Siemens without SHS
1	
Siemens without SHS.
R
Resource efficiency
FY 21: 0%
– 50% by 2025 
~ –100% by 2030
– 15%
SIEMENS SUSTAINABILITY REPORT 2023 
66
4.2 Conserving resources

Emission of air pollutants
We take a comprehensive approach to air pollution by analyzing 
local emissions at our various office and production facilities 
around the world. We also pay close attention to emissions 
from volatile organic compounds (VOC), pollutants from 
combustion processes, and where they are still present, 
ozone-depleting substances (ODS) at our environmentally 
relevant sites. Based on our internal environmental standards, 
these principles and procedures are implemented on a man-
datory basis.
The mandatory environmental management system for our 
sites includes the requirement to establish targets and 
­measures for reducing air pollutants, and where applicable, 
to address and mitigate their impact. 
Our Environmental Protection Standards include a commit-
ment to phase out ODSs. In fiscal 2023, we held VOC and 
ODS training workshops to increase awareness of the harmful 
effects of air pollutants, improve the data quality at sites, 
and provide recommendations for the reduction and phase-
out of VOCs and ODSs.
Natural gas /  
liquid petroleum gas
Electricity
Fuel oil,  
gasoline / diesel
District heating
FY 2022
FY 2022
FY 2022
FY 2022
FY 2023
FY 2023
FY 2023
FY 2023
2,277
5,586
232
1,016
2,927
5,629
63
1,163
Primary energy
(1,000 gigajoules)
Secondary energy
(1,000 gigajoules)
Total
FY 2022
3,010
FY 2023
2,513
Total
FY 2022
6,602
FY 2023
6,792
Atmospheric pollutant emissions
Fiscal year
(in metric tons)
2023
2022
Volatile organic compounds
250
274
Ozone-depleting substances  
of R11 equivalent1
0.044
0.036
1	
The R11 equivalent is a measure of ozone depletion potential
We reduced our VOC emissions by another 9% from the 
­previous year to 250 metric tons in fiscal 2023. Total ODS 
emissions increased slightly, amounting to 0.044 metric tons 
in fiscal 2023.
We determined the quantity of nitrogen oxides in our relevant 
thermal processes with the aid of computational procedures, 
assuming typical combustion conditions. For fiscal 2023, 
this yielded a figure of 53 metric tons for our environmen-
tally relevant sites compared to 58 metric tons the year 
before. This figure includes nitrogen oxides that are released 
by burning the fuels listed under primary energy.
SIEMENS SUSTAINABILITY REPORT 2023 
67
4.2 Conserving resources

Efficient waste management
The environmental relevance of waste depends on the type 
of waste and the method used for its disposal. To reduce 
hazardous waste, we work on increasing our material recy-
cling rate and reducing our landfill waste. To enhance 
material efficiency in our production processes, we imple-
ment practices like regrinding sprue parts at plastic molding 
sites. 
To support resource efficiency in production, our sites track 
waste data using a standard process that undergoes regular 
audits that aim to ensure accuracy and compliance. In addi-
tion, we distinguish between hazardous and non-hazardous 
waste. The treatment of hazardous and non-hazardous 
waste is further subdivided into material recycling, thermal 
recovery, thermal disposal, and landfill. Waste flows from 
construction or demolition work are reported separately, 
because these waste categories are created independent of 
production. We then go beyond the monitoring of our own 
activities to analyze the waste generated throughout our 
upstream supply chain. 
The volume of non-hazardous waste generated by Siemens’ 
own operations declined by 4% compared to the previous 
fiscal year, whereas the volume of hazardous waste 
decreased in the same period by 8%. Construction waste 
increased by 88% in fiscal 2023, mainly driven by the con-
struction site at our Campus in Erlangen. Compared to fiscal 
2022, the total waste volume increased by 2% in fiscal 2023. 
Water use and risk analysis
Water is one of humanity’s most important resources. For 
this reason, Siemens has been analyzing water scarcity, 
water pollution, local fire risks, climate change, and flooding 
and precipitation patterns at our sites for several years. We 
consider these analyses in our business decisions: for exam-
ple, when we select the location for a new site or implement 
precautionary measures.
We establish water targets at multiple sites to account for the 
specific local environment and to drive effective mitigation 
measures. At the corporate level, we have implemented a 
defined water strategy, and have conducted risk assessments 
to shape local water targets. 
Our individual sites then implement their own water initia-
tives in alignment with these targets. For instance, by 
greening the roofs of our Siemens Campus in Erlangen, we 
return rainwater back into the natural water cycle through 
evaporation, rather than disposing of it in the sewer system. 
The aim of our water strategy is to minimize the adverse 
local effects of our water consumption and use. In fiscal 
2022, we expanded the analysis of our water-related risks to 
include our supply chain. Based on this analysis, we derived 
further measures for sustainable water use. Siemens India as 
an example achieved sustainable water management by 
driving various measures, including utilizing water-efficient 
13
Hazardous 
waste
34
Construction waste
215  
Non-hazardous 
waste
Waste
(in 1,000 metric tons)
FY 2023
261
total
In fiscal 2023, the share of material recycling in our total 
waste stream (excluding construction waste) remained at 
81%. 
Material Recycling
(in %)
Share of material recycling 
in total waste1
FY 2022
81
Total
FY 2023
81
Total
1	
Excluding construction waste.
SIEMENS SUSTAINABILITY REPORT 2023 
68
4.2 Conserving resources

Initiatives for greater biodiversity
The aim of Siemens’ environmental management system is 
to work to preserve a diverse natural environment. Biodiversity 
and conservation are defined in our environmental policies 
as environmental aspects at the company level that need to 
be assessed locally. The objective is to ensure that the business 
activities at our factories and offices do not reduce species 
diversity beyond an unavoidable minimum. This approach is 
part of our location planning, which also includes initiatives 
to foster biodiversity by creating habitats that provide both 
shelter and food. Examples range from planting native vegeta-
tion, creating homes for insects, birds, mammals, reptiles, 
and amphibians to taking inventories of the local biodiversity 
at our sites. Two locations in Germany are using sheep as 
“lawn-mowers” to reduce our impact on flora and fauna by 
maintaining green spaces. Siemens employees are actively 
engaged in protecting and increasing biodiversity at their 
locations: for example, by volunteering for tree-planting 
campaigns and participating in cleanup events.
For our Siemens Campus in Erlangen, we have developed a 
comprehensive biodiversity concept that enables us to 
­preserve existing trees, plant native fruit trees, and create 
suitable nesting habitats for many species, among other 
initiatives.
To further develop our approach to biodiversity, we have 
entered a strategic partnership with The Biodiversity Consul-
tancy to help Siemens scientifically assess our biodiversity 
footprint. This assessment was conducted in fiscal 2023 and 
covered the biodiversity impacts of our own operations and 
those of our upstream value chain: for instance, impacts of 
the raw materials we purchase. The assessment and the 
transparency we acquired on our biodiversity footprint are 
an important step toward developing our biodiversity strategy.
appliances, installing rainwater harvesting systems at four 
major factory locations, and building water reclamation 
facilities (zero liquid discharge facilities). These measures 
enable us to reduce fresh water consumption by, among 
other things, utilizing treated water for landscaping and 
toilet flushing.
Our water risk analysis begins with an assessment of our 
environmentally relevant sites using the Aqueduct Water 
Risk Atlas from the World Resources Institute (WRI). With the 
aid of an internal analytical tool, Siemens assesses local-level 
risks resulting from our sites’ activities, and then assesses 
them in relation to regional water risks. Sites with a high-risk 
assessment need to define targets to reduce the level of risk. 
In fiscal 2023, 96% of our sites implemented this water 
strategy. 
9.20
Groundwater
1.03
Surface water
3.33 
3rd-party water
Water discharge 
(in million m3)
96%
of our sites have implemented  
a water strategy
Our water strategy provides foundational support to our 
compliance with the Do No Significant Harm (DNSH) criteria 
for sustainable use and protection of water and marine 
resources in the EU Taxonomy. 
In fiscal 2023, our total water withdrawal was 14.26 million m³.
The largest share of our water use is for cooling processes. 
These processes leave the water’s chemical quality largely 
unchanged, so that the water can be returned directly to the 
receiving water body or groundwater. In fiscal 2023, our 
water discharge was 13.56 million m3.
Water consumption is a water substream with a major envi-
ronmental impact, because the water is no longer available 
for the ecosystem’s use. Siemens’ water consumption is 
mostly linked to evaporation and is comparably small, with 
just 0.51 million m3 of total water consumption. Of this 
amount, 0.07 million m3 are accounted for by water con-
sumption in water stress areas.
FY 2023
13.56
total
SIEMENS SUSTAINABILITY REPORT 2023 
69
4.2 Conserving resources

Incidents relevant to the environment and fines
Siemens uses a worldwide reporting system to document 
environmental incidents. In fiscal 2023, we recorded no 
significant incidents resulting in fines over US$10,000. We 
recorded 14 minor environmental spills or gas losses with 
low impacts. They involved spills of chemicals, diesel, 
hydraulic oils, or resins and losses of coolant gases.
Stakeholder involvement in conserving resources
Stakeholder engagement is a crucial aspect of our environ-
mental protection efforts, and we utilize various channels to 
engage in regular stakeholder dialogs, including with local 
communities. One of the communications channels used is 
our internal Environmental Protection Newsletter, where we 
share updates, achievements, and upcoming initiatives 
related to environmental protection. We also promote the 
use of best practices and knowledge transfers within 
Siemens through global workshops in order to facilitate our 
efforts in this regard. 
For more information about the methods used, environmental 
reporting, and environmental data collection, see  REPORTING 
METHODOLOGY.
SIEMENS SUSTAINABILITY REPORT 2023 
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4.2 Conserving resources

4.3
Product stewardship
–	 Increase relevant product families for Robust Eco 
Design
–	 Increase coverage rate of Robust Eco Design 
approach across relevant product families.
–	 Significant increase of lifecycle assessment (LCAs)
Management approach
At Siemens, we are aware that product design has far-reaching 
effects on nature and our environment. As a market leader 
and technology pioneer in many fields, we take a keen interest 
in the long-term impacts of our portfolio. Ensuring the 
environmental compatibility of our products, systems, 
solutions, and services is a key priority.
Extracting and processing finite resources contribute to as 
much as 90% of global biodiversity loss and approximately 
50% of global CO2e emissions1. Both of these consequences 
can impact the composition, resilience, productivity, and 
carrying capacity of natural and managed ecosystems as 
well as people’s livelihoods. In 2023, the global economy 
was only 7.2% circular, meaning that just 7.2% of all material 
inputs into the economy were secondary materials.2
As such, we aim to reduce the environmental impact of our 
products, systems, solutions, and services as early as the 
design phase and minimize the need for raw material 
extraction. Our Ecodesign approach considers relevant eco-
logical factors during product planning and design, because 
this phase determines up to 80% of a product’s lifecycle 
environmental impact.3 We also address these challenges 
through various initiatives: for instance, our Tech for Sus-
tainability Bootcamp 2023, Ecodesign learning programs, 
and our Sustainability Business portfolio. 
1	
IRP (2019). Global Resources Outlook 2019: Natural Resources for the Future We 
Want. (Global Resources Outlook | Resource Panel).
2	
https://www.circularity-gap.world/2023.
3	
Ecodesign your future: How Ecodesign can help the environment by making products 
smarter. Publications Office of the European Union (https://op.europa.eu/en/­
publication-detail/-/publication/4d42d597-4f92-4498-8e1d-857cc157e6db).
We focus on resource efficiency 
over a product’s entire lifecycle
Our governance and policies for product 
stewardship
The Environmental Protection department is responsible for 
planning, preparing, organizing, and implementing rules 
and regulations for product stewardship. It aims to ensure 
consistency, transparency, implementation, and compliance 
with regulatory frameworks within its areas of responsibility 
and reviews their effectiveness.
With our Ecodesign approach, we aim to contribute to climate 
protection at our customer sites and increase dematerialization 
through our circularity approach and our digital portfolio 
elements.  CLIMATE ACTION 
 COMPANY PROFILE
Fundamental Ecodesign approaches at Siemens include 
increased resource efficiency and decarbonization during 
production, higher productivity and efficiency during use, 
and product designs that support circularity. In accordance 
with the international standards IEC 62430 Environmentally 
Conscious Design for Electrical and Electronic Products, 
ISO 14006, and ISO 14009, Siemens applies the Robust Eco 
Design (RED) approach. The Ecodesign Appendix, which is a 
mandatory component of Siemens’ Environmental Protection 
Standard, provides a framework for assessing and determining 
a product’s environmental impact throughout all phases of 
its lifecycle. It also provides a framework for the environmen-
tally compatible design of products, systems, solutions, and 
SIEMENS SUSTAINABILITY REPORT 2023 
71
4.3 Product stewardship

Progress on DEGREE ambition #7:  
Natural resource decoupling through 
increased purchase of secondary  
materials for metals and resins
We want to increase the procurement of secondary 
materials for metals and resins and implement a 
­circular economy. In fiscal 2023, we purchased 35% 
of the metals – primarily iron, copper and aluminum 
used in the manufacture of our products – from 
recycled sources. This percentage is the weighted 
average of the secondary material proportions of the 
three metals based on average regional or global 
values from literature values and supplier informa-
tion. Last year this share was 34%. Moreover, in fiscal 
2023 we sourced < 1% of the resins used to make our 
products from recycled sources. We continue to work 
with the recycling chains for technical plastics 
­currently being established, and on further developing 
product specifications as well as material standards in 
this context.
Progress
Siemens without SHS
Progress on DEGREE ambition #6: 
Next-level Robust Eco Design for 100%  
of relevant Siemens product families  
by 2030
The quota of Robust Eco Design implementation for 
the relevant portfolio elements currently stands at 
51% compared to 35% in the year 2022. Only when 
the rate of implementation reaches 100% can it be 
assumed that all relevant product families have com-
pleted each individual phase for Robust Eco Design.
Progress
Siemens without SHS
services. The implementation of this standard is the respon-
sibility of the heads of Siemens’ operating units and is an 
integral part of the company’s annual environmental review 
according to ISO 14001. 
Targets
Our Ecodesign approach is also embedded in the field of 
action Resource efficiency in our DEGREE sustainability 
framework. The main objective is to introduce methods and 
rules for circularity and dematerialization along the entire 
value chain.
products, systems, solutions, and services by 2030. In fiscal 
2023, 65% of our third-party revenue was defined as rele-
vant for our RED approach, compared to 57% in fiscal 2022. 
In addition, our goal is to increase the number of LCAs and 
EPDs available. As a result, we are continuously expanding 
our database for monitoring and communicating the envi-
ronmental performance of our products, systems, solutions, 
and services.
51%
FY 21: 26%
100% by 2030
Metals 35%
Resins <1%
4	
Relevant: All products, systems, solutions, and services whose sales are not negligible, 
that will not be discontinued in the foreseeable future, or are not part of a confirmed 
spin-off.
Applying RED in all relevant product families
Our aim has been to intensify the use of lifecycle assess-
ments (LCAs) and environmental product declarations 
(EPDs), which will allow us to identify environmentally 
compatible design alternatives that take circularity into 
account and can be integrated into product specifications. 
Our ambition is to apply the RED approach to all relevant4 
R
Resource efficiency
R
Resource efficiency
SIEMENS SUSTAINABILITY REPORT 2023 
72
4.3 Product stewardship

Expanding our use of secondary materials
We want to proportionately increase our procurement of 
secondary metal and resins by 2030. To achieve this, we are 
concentrating on suppliers of raw materials and semifinished 
products that can be directly influenced by our purchasing 
specifications. 
Limiting declarable substances
At the same time, we want to continuously reduce declarable 
substances in all our products. Measurements and more 
details can be found in the section “Actions and results.”
Actions and results
Our program Eco Efficiency @ Siemens has defined special 
environmental protection priorities in the categories Robust 
Eco Design and Clean Supply Chain.
Robust Eco Design for future-fit product families
RED focuses on the systematic application of Eco­design to all 
lifecycle phases. The aim is to identify strategies that make a 
product’s life as environmentally compatible as possible and 
that allow all materials to be recycled. At the same time, 
material and energy flows and losses will be reduced to the 
necessary minimum.
RED measures
The RED approach is designed to identify potential measures 
for improving the environmental impacts of our products, 
systems, solutions, and services, for example, to:
→	 Improve product resource efficiency by reducing material 
inputs or replacing physical components and functions 
with digital solutions, otherwise known as dematerialization
→	Optimize product energy efficiency by minimizing energy 
consumption during use and designing environmentally 
sound operation modes
→	Enhance product durability and reliability by selecting 
materials that help extend a product’s lifespan and main-
tain its functionality
→	Extend the lifespan of our products, systems, solutions, 
and services through proper maintenance, repairability, 
and upgradability
→	Maximize the value and benefit from our products, systems, 
solutions, and service by implementing efficient return 
logistics systems, promoting take-back initiatives, and 
adopting As-a-Service business models.
RED phases
The RED approach involves three phases:
→	Phase 1 – Application perspective
The goal and scope of requirements for relevant product 
families are defined, and relevant product families are 
analyzed in terms of the environmental parameters 
required by markets and customers. They are then catego-
rized based on their underlying technology and design 
specifications so they will meet the needs and demands 
of stakeholders.
→	Phase 2 – Solid foundation
The environmental impacts of product families are quan-
tified using LCAs based on ISO standards. EPDs are used 
to communicate a product’s environmental impact and 
other environmental indicators that measure circularity. 
This phase provides the basis for the determination of 
environmental footprint improvement measures. For 
details, see our 
 LCA EPD BROCHURE
→	Phase 3 – Dematerialization
The preceding assessments are conducted to identify 
environmental design alternatives, the results are inter-
preted, and where feasible they are incorporated into 
environmentally optimized design specifications. Typical 
Ecodesign strategies applied in this phase include increas-
ing the use of secondary materials (recyclates), product 
repairability, upgradeability, or suitability for refurbishment, 
remanufacturing, and recycling, and the evaluation of 
new business models that enable take-backs after a 
product’s use.
SIEMENS SUSTAINABILITY REPORT 2023 
73
4.3 Product stewardship

Implementation rate of our RED approach
In line with our DEGREE ambition, we consistently monitor 
our progress with implementing the Siemens RED approach 
across the relevant product families in our business units, 
excluding Siemens Healthineers (SHS), and supporting busi-
nesses such as Real Estate.
To do this, we classify products, systems, solutions, and ser-
vices into groups that share similar technical characteristics, 
and we evaluate them based on RED criteria. The rate of 
implementation of the individual RED phases is then assessed 
in each of the relevant product families. If a criterion in a RED 
phase has been met, all the revenue generated by the product 
is considered RED-conformant. If a criterion is only partially 
met, 25% of the revenue is considered RED-conformant. If a 
criterion is not met, the corresponding revenue is disregarded. 
The RED implementation rate for each product family is then 
determined by averaging the fulfillment levels of the individual 
RED criteria. We calculate the revenue share of our RED-con-
formant portfolio by multiplying the RED implementation 
rate with the revenues of the given product families. Lastly, 
the implementation rate KPI for RED is calculated as the ratio 
of the total RED-conformant revenue share to the total reve-
nues of the relevant product families.
The RED approach allows us to use good practice results to 
identify practical Ecodesign measures in a product family 
that can then be used in other product families. Scheduled 
community meetings of product-related environmental 
­protection practitioners facilitate this good practice 
­knowledge-sharing across our business units. We also host 
Ecodesign case studies on an internal wiki to facilitate 
knowledge-sharing between our business units. 
Focus in fiscal 2023
As a critical precondition for implementing our RED 
approach, we worked on developing automated solutions to 
calculate LCAs and generate EPDs in fiscal 2023. This aims to 
facilitate Ecodesign comparisons and the systematic use of 
LCAs and EPDs at Siemens. We also published an 
 INTERNAL 
ON ECODESIGN to ensure alignment, increase transparency, and 
accelerate knowledge generation on Ecodesign.
R
e
f
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e
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a
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f
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t
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R
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ir
 
a
n
d
 r
e
us
e
R
e
cy
cl
in
g
Waste recovery
Raw material  
extraction
Ecodesign
Production
Manufacturing
Use
Siemens’ vision of an almost completely closed lifecycle when applying our RED approach
SIEMENS SUSTAINABILITY REPORT 2023 
74
4.3 Product stewardship

Clean Supply Chain: Using secondary materials 
to decouple natural resource use 
Building on the RED phase dematerialization, the Clean 
Supply Chain category in the Eco Efficiency @ Siemens 
­program maps our path to decoupling natural resource use 
from our economic growth. 
In fiscal 2023, we emphasized making a continuous material 
change from plastics made from fossil fuels to sustainable 
and secondary thermoplastics. For example, we introduced 
a sustainable polyamide 6 composite with a recycling con-
tent of 25% to 75% that engineers can apply in their designs. 
This can lead to a reduction of the product carbon footprint 
of 10% to 35%, depending on the application. We also devel-
oped an internal standard for sustainable plastics and using 
of biobased resins made from waste.
Risk-aware handling of declarable substances 
Another essential aspect of product stewardship is the 
responsible handling of substances that are potentially haz-
ardous for the environment or health, like those regulated by 
the EU REACH regulation. We modify internal IT procedures 
and material compliance processes with the aim of making 
the use of these substances safer. We are also working pro-
actively to substitute and reduce them wherever we can. We 
work to continuously increase the utilization of the digital 
industrial substance database BOMcheck by our suppliers. 
We comply fully with the declaration requirements of inter-
national legislation and IEC 62474, and we are constantly 
optimizing our interfaces and automated workflows.
Currently, up to 50% of our revenue (Siemens without SHS) 
comes from products, systems, solutions, and services that 
contain substances or groups of substances regulated by 
IEC 62474. We are continuously seeking ways to replace 
these substances whenever technically possible and reason-
able.
By systematically applying our approaches to environmen-
tally compatible product, system, solution, and service 
design and closely collaborating with our business partners, 
we intend to comprehensively support the replacement of 
declarable substances and decouple economic development 
from resource consumption.
Training and stakeholder involvement in product 
stewardship
We actively involve our customers in our Ecodesign 
approaches. Our business units reach out to customers to 
discover their specific requirements for Ecodesign measures 
and to get feedback on measures already implemented. 
Regular workshops with selected customers like wholesalers 
are conducted to poll their opinions on required or ­performed 
Ecodesign measures. 
Since fiscal 2022, the two-part Circular Design learning pro-
gram has been available online to all Siemens employees. 
In addition, we developed the Leading in Sustainability as 
part of the Top Management Leadership Program, a learning 
program for our leaders with also a focus on the circular 
economy. We maintain internal stakeholder engagement and 
raise awareness with measures like environmental protection 
newsletters and environmental information campaigns. 
SIEMENS SUSTAINABILITY REPORT 2023 
75
4.3 Product stewardship

4.4
EU Taxonomy
The information for Siemens’ EU Taxonomy reporting accord-
ing to article 8 of the EU regulation (EU) 2020/852 and 
associated delegated acts is disclosed in its Combined Man-
agement Report – the following chapter provides further 
information. 
The EU Taxonomy regulation was introduced to propose a 
framework to facilitate sustainable investment as part of 
EU’s efforts to implement the European Green Deal. It is a 
key element of the European Commission’s action plan to 
achieve the EU’s ambitious goal of carbon neutrality by 2050 
by redirecting capital flows towards sustainable activities 
and help navigate transition to a low carbon economy.
The Taxonomy is a classification system which aims to identify 
if a company’s activities are considered as environmentally 
sustainable.
Siemens supports the EU agenda’s general objectives of 
carbon neutrality by 2050 and the direction of capital flows 
towards sustainable activities. Siemens also supports the EU 
Taxonomy by improving transparency helping scale up 
­sustainable investment and achieving the Union’s decarbon-
ization and environmental objectives.
EU Taxonomy at a glance
The EU Taxonomy’s classification system defines economic 
activities as environmentally sustainable based on their rele-
vance to one of the following six environmental objectives 
and their fulfilment of predetermined criteria:
I.	 Climate change mitigation
II.	Climate change adaptation
III.	Sustainable use and protection of water and marine 
resources
IV.	Transition to a circular economy
V.	Pollution prevention and control
VI.	Protection and restoration of biodiversity and ecosystems
For each environmental objective, a catalog of relevant 
economic activities has been defined. When a business 
activity meets the definition of an economic activity, it is 
referred to as Taxonomy-eligible. EU Taxonomy alignment 
then requires the fulfillment of both the criteria for Substan-
tial Contribution (SC) and the criteria for Do No Significant 
Harm (DNSH), together called Technical Screening Criteria 
(TSC). Moreover, the company involved must observe Mini-
mum Safeguards (MS), e.g., compliance with human rights 
principles.
The EU Taxonomy’s catalog of economic activities includes 
business activities with the most potential for contributing to 
the six defined environmental objectives. If a business activ-
ity does not fall within the scope of the EU Taxonomy, it does 
not give an indication that such businesses could not be 
sustainable. For the reporting year 2023, EU Taxonomy 
reporting is limited to the first two environmental objectives 
(climate change mitigation and climate change adaptation).
With expansion of the criteria on all six environmental objec-
tives for fiscal 2024, we expect an increased EU Taxonomy 
coverage for our portfolio in the next year.
EU Taxonomy in the context of our Industrial 
Business
Siemens’ Industrial Business, which includes Digital Indus-
tries, Smart Infrastructure, Siemens Mobility, and Siemens 
Healthineers, is developing a wide range of solutions for a 
path to a sustainable future.
Digital Industries (DI) offers a comprehensive portfolio of 
products, services and solutions for automation and soft-
ware for the discrete and process industries. It enables 
­customers to optimize their entire value chain from product 
design, development, and production facility modeling to 
production operation and after-sales service. The Digital 
Industry portfolio enhances efficiency, conserves resources, 
and reduces greenhouse gas emissions. 
SIEMENS SUSTAINABILITY REPORT 2023 
76
4.4 EU taxonomy

The EU Taxonomy’s current eligibility rules for reporting on 
climate change mitigation and adaption cover the Digital 
Industries portfolio to a limited extent only. With the appli-
cation of the four new environmental objectives for fiscal 
2024 and amendments to existing objectives, an increased 
coverage of business activities is expected.
The Smart Infrastructure (SI) portfolio includes a wide range 
of products, services, solutions, and software for all aspects 
of grid management, electrical products, building automation, 
fire protection and security, e-mobility charging infrastructure, 
and energy efficiency. It offers smart connections for energy 
systems, buildings, and industries.
An important portion of this portfolio is devoted to integrating 
renewable energy into the power grid, increasing electromo-
bility, enhancing energy efficiency in buildings, and making 
the measurement of infrastructure more transparent using 
digital tools and data management solutions. Smart Infra-
structure contributes to electrification with a broad portfolio 
of low- and medium-voltage power distribution and electrical 
installation equipment. The Smart Infrastructure portfolio 
supports driving decarbonization, resource efficiency, and 
the people-centricity of energy systems, buildings, and 
industries by connecting the real and digital worlds.
A material portion of the Smart Infrastructure portfolio is 
eligible for climate objective-related EU Taxonomy reporting, 
especially energy-efficient equipment for buildings and ser-
vices for energy performance of buildings. With the addition 
of more activities for climate change mitigation and for the 
other environmental objectives, we expect an increased 
coverage of our business activities for fiscal 2024.
Siemens Mobility (SMO) combines all Siemens businesses in 
the area of rail passenger and freight transportation. The 
portfolio includes products and solutions related to rolling 
stock (like trains and locomotives), rail infrastructure (includ-
ing rail automation and electrification), and the service 
business, e.g., maintenance and digital services. Its offerings 
comprise software solutions, like train planning systems, 
Mobility-as-a-Service (Maas), reservation management and 
ticketing, and a turnkey business that bundles consulting, 
planning, financing, constructing, servicing, and operating 
of complete mobility systems.
Siemens Mobility enables transportation operators around 
the world to make their trains and infrastructure smart and 
electrified, and contributes to efficient, low-carbon transpor-
tation. Leveraging the advantages of digitalization, it helps 
increase sustainable value creation throughout the entire 
lifecycle, improve passenger comfort, deliver 100% system 
availability, and maximize network capacity.
The Siemens Mobility portfolio is almost fully eligible, 
­contributing to climate change mitigation through manufac-
turing of low-carbon technologies for transportation, and 
providing infrastructure for rail transportation and infra-
structure enabling public transport.
Siemens Healthineers (SHS) is a global provider of healthcare 
products, solutions, and services with holistic system com-
petence. The portfolio serves clinical decision-making and 
treatment pathways definition – from in vitro and in vivo 
diagnostics to image-guided therapy and innovative cancer 
treatment. The comprehensive portfolio supports customers 
along the entire care continuum, from prevention and early 
detection through to diagnosis, treatment, and follow-up 
care.
Siemens Healthineers concluded in its analysis of contributing 
activities, that the current climate-related objectives are not 
applicable to manufacturing of medical products, which is 
Siemens Healthineers’ primary activity. Taxonomy-relevant 
capital expenditures are for the most part reported under 
selected economic activities referring to construction and 
real estate. With the release of the four new environmental 
objectives, Siemens Healthineers expects an increased 
­coverage of its economic activities.
Eligibility assessment at Siemens
The purpose of the eligibility assessment is to determine if 
Siemens’ business activities fit the description of one of the 
economic activities specified by the EU Taxonomy. If a 
Siemens business activity matches, it is then classified as 
“eligible”. A business activity that is “non-eligible” is not 
within the scope of the EU Taxonomy reporting. The eligibility 
assessments were conducted decentrally in the businesses in 
an interdisciplinary manner involving experts, for instance 
from technical, strategy, or sustainability departments.
SIEMENS SUSTAINABILITY REPORT 2023 
77
4.4 EU taxonomy

For fiscal 2023, Siemens’ Industrial Business reported its 
Taxonomy-eligible revenue shares under the following EU 
Taxonomy activities of climate change mitigation:
Economic Activity
Industrial 
Business
3.1	 Manufacture of renewable energy technologies
SI
3.3	 Manufacture of low carbon technologies for  
transport
SMO
3.5	 Manufacture of energy efficiency equipment for 
buildings
SI
3.6	 Manufacture of other low-carbon technologies
DI, SI
4.9	 Transmission and distribution of electricity
SI
6.14	 Infrastructure for rail transport
SMO
6.15	 Infrastructure enabling low-carbon road transport 
and public transport
SMO, SI
6.16	 Infrastructure enabling low-carbon water transport
SI
7.3	 Installation, maintenance and repair of energy 
­efficiency equipment
SI
7.4	 Installation, maintenance and repair of charging 
­stations for electric vehicles in buildings (and 
­parking spaces attached to buildings)
SI
7.5	 Installation, maintenance and repair of instruments 
and devices for measuring, regulation and controlling 
energy performance of buildings
SI
7.6	 Installation, maintenance and repair of renewable 
energy technologies
SI
8.2	 Data-driven solutions for GHG emissions reductions
DI, SI
9.3	 Professional services related to energy performance 
of buildings
SI
Alignment assessment at Siemens
In the next step, Siemens’ Taxonomy-eligible activities were 
evaluated against the technical screening criteria for Sub-
stantial Contribution (SC) and Do No Significant Harm 
(DNSH) according to the Delegated Acts. Siemens also 
needed to prove its compliance with Minimum Safeguards: 
namely, on human rights and good business conduct rules.
Substantial Contribution (SC): Following the eligibility 
assessment, the alignment of all eligible business activities 
with the SC criteria outlined in the respective Delegated Acts 
was assessed. This was conducted and documented at the 
highest appropriate reporting hierarchy level, such as business 
segment, product family or project level – depending on the 
relevant SC criteria and the respective business activity.
Do No Significant Harm (DNSH): Once a business activity 
demonstrated a SC, its compliance with the DNSH criteria 
was assessed. Based on the specific regulatory requirements 
outlined in the Delegated Acts, the assessment was con-
ducted by technical experts on the product, site, project and/
or supplier levels. 
Minimum Safeguards (MS): An additional requirement for EU 
Taxonomy alignment is compliance with MS as outlined in 
Article 18 of the EU Taxonomy Regulation. The MS criteria 
require business activities to be compliant with the following 
regulations:
→	OECD Guidelines for Multinational Enterprises;
→	UN Guiding Principles on Business and Human Rights, 
including the principles and rights set out in the eight 
core conventions identified in the International Labor 
Organization’s (ILO) Declaration on Fundamental Rights 
and Principles at Work,
→	The International Bill of Human Rights.
Based on its implemented group-wide structures on risk 
analysis, corporate guidelines and due diligence processes 
and mechanisms, Siemens is fulfilling the MS requirements.
For fiscal 2023, Siemens’ Industrial Business reported 
Taxonomy-­aligned revenue shares under the following EU 
Taxonomy activities of Climate change mitigation:
Economic Activity
Industrial 
Business
3.1	 Manufacture of renewable energy technologies
SI
3.3	 Manufacture of low-carbon technologies for 
­transport
SMO
3.5	 Manufacture of energy efficiency equipment for 
buildings
SI
3.6	 Manufacture of other low-carbon technologies
DI
4.9	 Transmission and distribution of electricity
SI
6.14	 Infrastructure for rail transport
SMO
6.15	 Infrastructure enabling low-carbon road transport 
and public transport
SMO, SI
6.16	 Infrastructure enabling low carbon water transport
SI
7.3	 Installation, maintenance and repair of energy 
­efficiency equipment
SI
7.5	 Installation, maintenance and repair of instruments 
and devices for measuring, regulation and controlling 
energy performance of buildings
SI
7.6 	 Installation, maintenance and repair of renewable 
energy technologies
SI
8.2	 Data-driven solutions for GHG emissions reductions
DI, SI
9.3	 Professional services related to energy performance 
of buildings
SI
SIEMENS SUSTAINABILITY REPORT 2023 
78
4.4 EU taxonomy

KPI results for the reporting year
The key performance indicators in this section were deter-
mined based on Commission Delegated Regulation (EU) 
2021/2178 in conjunction with the International Financial 
Reporting Standards applicable to the Consolidated Financial 
Statements. Based on the eligibility and alignment assess-
ments described above, the baseline values for revenue, 
capital expenditures (CapEx), and operating expenditures 
(OpEx) were analyzed and, if applicable, mapped to the 
respective EU Taxonomy activities. Allocations were also 
applied based on eligible and/or aligned revenue in order to 
link capital expenditures and operating expenditures to the 
respective activities. Siemens implemented a supporting IT 
tool for the EU Taxonomy technical eligibility and alignment 
assessments and associated documentation. To avoid double 
counting, the mapping was consistently made to only one 
economic activity.
Revenue KPI 
The revenue KPI shows the ratio of revenue from Taxonomy-­
eligible and/or aligned economic activities to the total revenue 
in the Consolidated Statements of Income for the reporting 
year. Based on an assessment of the Siemens business port-
folio, Taxonomy-eligible revenue accounted for 20.3% and 
Taxonomy-aligned revenue for 16.5% of total revenue. This 
translates into €15.7 billion in Taxonomy-eligible revenue 
and €12.8 billion in aligned revenue.
Taxonomy-eligible and aligned economic activities were 
primarily driven by the (i) Manufacture of low-carbon tech-
nologies for transport (Climate Change Mitigation, CCM 
3.3), (ii) rail transportation infrastructure (CCM 6.14), (iii) 
Infrastructure enabling low-carbon road transport and public 
transport (CCM 6.15), all associated with Mobility busi-
nesses, as well as (iv) energy-efficient building technologies 
(CCM 3.5) and (v) services for energy-efficient building 
technologies (CCM 7.5), both related to Smart Infrastructure 
businesses.
The difference between Taxonomy-eligible revenue and 
Taxonomy-aligned revenue is mainly due to DNSH criteria 
related to pollution prevention as part of Appendix C, which 
go beyond existing national regulation. This is mainly 
because additionally required documentation is not com-
pletely available yet. 
Capital expenditures KPI
The CapEx KPI shows the ratio of CapEx from Taxonomy-­
eligible and/or aligned economic activities to the total CapEx, 
reflecting additions (including additions from business 
combinations) to other intangible assets and property, plant 
and equipment in accordance with Note 13 to the Consoli-
dated Financial Statements. In the reporting year, 34.5% 
(€1.3 billion) of Siemens’ CapEx were eligible, and 12.2% 
(€0.5 billion) were aligned. The aligned CapEx is composed 
as follows: a majority of €0.4 billion is related to additions to 
property, plant and equipment, the remainder pertains to 
internally generated intangible assets and capitalized right-
of-use assets.
This aligned CapEx includes €116 million related to a CapEx 
plan, associated with building projects to be finalized by 
­fiscal 2028, summing up to a planned total volume of 
€1.4 billion (capitalizable and non-capitalizable costs). The 
buildings are designed to minimize energy use and carbon 
emissions (CCM 7.7).
Acquisition and ownership of buildings (CCM 7.7) related to 
Siemens’ real estate portfolio represents the largest portion 
in overall CapEx eligibility. The difference between Taxonomy-­
eligible CapEx and Taxonomy-aligned CapEx is impacted by 
(i) only partial availability of information on energy perfor-
mance certificates for our global portfolio and (ii) energy 
certificates below the required threshold defined in the 
Substantial Contribution criteria for the energy efficiency of 
buildings.
Operating expenditures KPI
The OpEx KPI shows the ratio of OpEx from Taxonomy-­
eligible and/or aligned economic activities to total OpEx. The 
total OpEx comprises direct non-capitalized costs related to 
research and development, building renovation measures, 
short-term leases, maintenance and repairs, and any other 
direct expenditures relating to the day-to-day servicing of 
assets of property, plant, and equipment per Annex I of the 
Commission Delegated Regulation (EU) 2021/2178. 12.4% 
(€0.9 billion) of Siemens’ OpEx were eligible and 8.2% 
(€0.6 billion) were aligned.
SIEMENS SUSTAINABILITY REPORT 2023 
79
4.4 EU taxonomy

The majority of eligible and/or aligned expenditures relate to 
processes and assets associated with the economic activities 
described for the revenue KPI: (i) Manufacture of low-carbon 
technologies for transport (CCM 3.3) and (ii) rail transportation 
infrastructure (CCM 6.14). These two activities account for 
half of eligible OpEx and the majority of aligned OpEx.
This aligned OpEx includes €3 million related to a CapEx 
plan, associated with building projects to be finalized by 
­fiscal 2028, summing up to a planned total volume of 
€1.4 billion (capitalizable and non-capitalizable costs). The 
buildings are designed to minimize energy use and carbon 
emissions (CCM 7.7).
Corresponding to revenue, the difference between Taxonomy-­
eligible OpEx and Taxonomy-aligned OpEx relates mainly to 
the documentation of DNSH criteria for pollution prevention 
(Appendix C).
 SIEMENS FINANCIAL REPORT FOR FISCAL 2023, COMBINED MANAGEMENT 
REPORT
SIEMENS SUSTAINABILITY REPORT 2023 
80
4.4 EU taxonomy

Pages 81 – 105  
Social  
Contribution to people and 
society
Equity
Foster diversity, inclusion, and community develop-
ment to create a sense of belonging
Our key ambitions1
→	30% female share in top management by 2025
→	Access to employee share plans: maintain high level 
and expand globally to up to 100% by 20252
→	Global commitment to the New Normal Working 
Model3
	
Additional highlights
→	WIN talents, GROW, and BOND our people
→	Greater equity of opportunities continues through 
our global Gender Equity Program1
→	Social engagement with three strategic priorities
Employability
Enable our people to stay resilient and relevant in a 
permanently changing environment
Our key ambitions1
→	Increase digital learning hours to “25 by 25”4
→	Access to Employee Assistance Program: maintain 
high level and expand globally to 100% by 2025
→	30% improvement in Siemens’ globally aggregated 
LTIFR5 by 2025
	
Additional highlights 
→	“MyGrowth” program to foster individual growth 
and performance at scale
→	Broad portfolio for vocational education and training 
(VET) and lifelong learning
→	Continued rollout of the Healthy and Safe @ Siemens 
program
1	
Siemens without SHS.
2	
Where legally possible and reasonable.
3	
For employees with job profiles that make this possible and reasonable.
4	
Digital learning hours per headcount.
5	
LTIFR: Lost Time Injury Frequency Rate (of Siemens employees and temporary workers) baseline FY 20.
SIEMENS SUSTAINABILITY REPORT 2023 
81

–	 WIN talents, GROW, and BOND our people
–	 320,0001 employees worldwide
–	 Global values and global corporate culture
Management approach
Structural factors such as demographic change, which con-
tinue to widen the talent gap in key talent markets (including 
digital talents), management of unstable geopolitical condi-
tions, and the decreasing half-life of knowledge are the 
principal challenges that we are addressing at Siemens. All 
of them are driving significant workforce transformations 
across our people and organizations.
As the COVID-19 pandemic recedes, the past year has seen 
new global challenges that few had anticipated. In this 
ever-changing environment, our people and organization 
need to strengthen their resilience in order to stay relevant. 
More than ever, people are a determining factor for our 
growth.
Empowering people and fostering a growth 
mindset
Our aim is to establish an integrating, empowering culture 
of growth and transformation that ensures both sustainable 
business success and our people’s employability. An ambition 
that we are also pursuing with our four strategic priorities, 
 STRATEGY two of which are especially relevant to People & 
Organization (P&O): Empowered People and a Growth Mind-
set are reflected in our people strategy with a further focus 
on WIN, GROW, and BOND so we can attract and retain the 
right talents.2
5.1
Working at Siemens
Talent markets continue to be highly dynamic and com­
petitive. It is becoming harder to win and bond the highly 
sought-after talents that are key to driving the Siemens 
transformation. Candidates are clear about their expecta-
tions of an attractive employer:
(a) empowerment and personal choice
(b) skill development
(c) a sense of belonging and contributing to a larger purpose.
Growing our people is a vital answer in tight talent markets. 
Gaining the trust of our people and bonding with them 
builds a competitive advantage that is regularly measured 
and reflected in our Siemens Global Engagement Survey 
(SGES)2.
Our People & Organization governance and 
policies
The People & Organization (P&O) unit, headed by our Chief 
People and Sustainability Officer (CPSO), is responsible 
for regulations and standards for our people that establish 
an integrating, empowering culture of growth and transfor-
mation, that aims to support both a sustainable business 
success and our people’s employability. All Governance units 
are working with our country and local business P&O func-
tions to align them with local labor laws, support them to 
drive transformation and digitalization, and attract and 
retain talents.
→	Our global and local P&O Governance are responsible for 
(global) policies, standards, and top strategic initiatives in 
P&O-related areas.
→	Our global and local P&O Business Partners (BPs) are 
working with our managers to focus on strategic P&O 
topics and implementation that will support the business 
and functional needs.
→	Our Siemens internal Global Shared Service centers man-
age people operations.
1	
All employee figures in this chapter refer to headcount and our own workforce.
2	
Siemens without SHS.
SIEMENS SUSTAINABILITY REPORT 2023 
82
5.1 Working at Siemens

Establishing a culture of trust
Siemens’ values and ethical standards for doing business are 
anchored in our Business Conduct Guidelines (BCGs). The 
BCGs define the basic principles and rules for our conduct 
both inside and outside the company. The BCGs are binding 
for our employees, managers, and top management globally. 
The principles of human rights, non-discrimination and 
non-intimidation, free choice of employment, prohibition of 
child labor, prohibition of forced labor and all forms of 
­slavery, fair employment (including adequate compensation 
and appropriate working hours), freedom of association and 
collective bargaining, health, occupational safety, personal 
security, and protection and privacy of personal data are 
embedded in Siemens’ BCGs, International Framework 
Agreement (IFA), Human Rights policy, and Compliance 
­system.  COMPLIANCE AND ETHICS
We place fair treatment and respect at the heart of our value 
system. Our aim is to respect the personal dignity, privacy, 
and rights of each individual. We believe that diversity 
enriches our workplace. We work together without regard to 
ethnic origin, culture, religion, age, disability, skin color, 
gender, sexual identity and orientation, or worldview. We do 
not tolerate discrimination, sexual or any other form of 
harassment, or inappropriate behavior towards individuals 
or groups.  HUMAN RIGHTS
Targets
We have adopted ambitious, specific goals in our DEGREE 
sustainability framework. The three fields of action – Ethics, 
Equity, and Employability – are key priority areas for the P&O 
unit at Siemens.2  OUR DEGREE SUSTAINABILITY FRAMEWORK
→	Ethics: We foster a culture of trust, adherence to ethical 
standards, and handling data with care. Our values and 
ethical principles are embedded in our BCGs, on which all 
our people are trained regularly.  COMPLIANCE AND ETHICS
→	Equity: Equal treatment and respect are at the core of our 
corporate values. We aim to be the employer of choice 
and to foster diversity, inclusion, and community. In 
addition to fostering a culture of trust and empowerment, 
we want to create a sense of belonging and a safe envi-
ronment where our people can give their best.  DIVERSITY, 
EQUITY & INCLUSION
→	Employability: We continually invest in all levels of train-
ing for our people. We support their resilience as people 
and relevance as skilled workers. We strive to enable our 
people to manage change effectively and to surpass their 
previous performance levels. We focus on digital learning, 
employee assistance programs, and occupational health 
and safety measures for them. 
 PROFESSIONAL EDUCATION 
AND LIFELONG 
LEARNING, 
 OCCUPATIONAL 
HEALTH 
AND 
SAFETY 
­MANAGEMENT
In addition, the P&O unit supports the DEGREE Governance 
ambition by integrating ESG criteria into the long-term 
­variable compensation programs3 for the Managing Board 
and senior management. 
 SUSTAINABILITY GOVERNANCE AND 
ORGANIZATION
2	
Siemens without SHS. 
3	
Assessment based on the Siemens internal ESG/sustainability index, which is based 
on customer satisfaction (Net Promoter Score), CO2 reduction, and digital learning 
hours.
SIEMENS SUSTAINABILITY REPORT 2023 
83
5.1 Working at Siemens

Actions and results
Launch of our Siemens Employer Branding 
campaign to attract and retain talents2
In 2023 we launched our new employer branding campaign 
Create a better #TomorrowWithUs to win and retain talents 
for Siemens as the inclusive employer of choice. Siemens is 
currently undergoing the most significant transformation in 
the company’s history: transitioning from a mechanical 
engineering company to a technology company that drives 
sustainability. Our goal is to position Siemens as the inclusive 
employer of choice in all our relevant talent markets. This has 
also received external recognition, as Siemens has been listed 
among the “World’s Most Attractive Employers 2023” by Forbes 
and Universum, as well as in national rankings like LinkedIn 
“Top Company 2023” in Germany.
Fair and equitable talent process
We are committed to transparent and equitable access to 
career opportunities and equal pay for equal work for our 
people. With access to our open and transparent Job Market 
and by leveraging new technologies to improve our skill-
based recruiting, we foster cross-organizational develop-
ment. Our Siemens MyGrowth development program and 
talent programs are designed to help develop our people’s 
full potential.  PROFESSIONAL EDUCATION AND LIFELONG LEARNING
Right to collective bargaining and freedom of 
association
The principles of fair pay, the right to collective bargaining, 
and freedom of association are embedded in Siemens’ BCGs 
and International Framework Agreement (IFA) 
 COMPLIANCE 
AND ETHICS. Siemens AG reaffirmed its commitment to workers’ 
fundamental rights in an International Framework Agreement 
(IFA) signed with trade unions and our employee represen-
tatives in 2012.  HUMAN RIGHTS
Progress on DEGREE ambition #10:  
Access to employee share plans –  
maintain high level and expand globally 
to up to 100% by 2025
Siemens employee share program strengthens 
identification with the company
Employee share ownership is an integral part of the 
Siemens DEGREE sustainability framework: We aim to 
maintain access to our employee share program at 
the 98% level and expand it globally to up to 100% by 
2025.1 Owning a stake in the company is intended to 
motivate our people to take personal responsibility 
for their own actions. This ownership culture has a 
long tradition at Siemens: Our first profit-sharing 
program was introduced back in 1858. Today the 
global Siemens share program, which has been 
offered annually since 2008, is one of the largest 
employee share programs in the world. More than 
102,000 employees invested in their company in fis-
cal 2023, which means that almost 44% of all eligible 
employees participated.2 In addition, Siemens AG 
distributed around 573,000 free bonus shares to 
employees in the past fiscal year as part of the global 
share program.  OUR DEGREE SUSTAINABILITY FRAMEWORK
Siemens Healthineers has its own share program that 
it offers to its employees.
Progress
1	
Where legally possible and reasonable.
2	
Participation is open to all employees who were employee by a participating 
Siemens subsidiary on October 1 of the previous calendar year and continue 
to be employed at a participating Siemens subsidiary until at least the last 
day of the applicable offer period. Members of the Managing Board are 
excluded.
Siemens without SHS
E
Equity
FY 21: 98%
~ 100% by 2025
99.9%
2	
Siemens without SHS.
SIEMENS SUSTAINABILITY REPORT 2023 
84
5.1 Working at Siemens

According to the collective bargaining agreements in Ger-
many, the pay system at Siemens is determined by collective 
bargaining negotiations between the trade union “IG Metall” 
and employers’ associations. 79% of our employees in Ger-
many are covered by collective bargaining agreements, an 
additional 19% of our employees in Germany are covered by 
collective agreements subject to codetermination by the 
Works Council, and our senior managers (2% of employees 
in Germany) are represented by the “Executive staff committee.”
Social dialog and relationship management
Enabling a safe dialog between Siemens and our employee 
representatives is important for building trust with our peo-
ple. The following employee representative bodies are 
established at Siemens:
→	The Siemens Group Works Council, Central Works Council, 
local Works Councils, and other employee representative 
bodies represent all employees at Siemens in Germany – 
also disabled people and young workers.
→	Our Siemens Europe Committee (SEC) comprises 37 rep-
resentatives from 23 countries. The SEC represents all our 
people in the EU countries and the UK, Switzerland, and 
Norway. In addition to three regional meetings, the annual 
SEC meeting with all SEC members, representatives of the 
company, and our CPSO took place in fiscal 2023.
→	In fiscal 2023, Siemens also held meetings with employee 
representatives and unions in non-EU countries.
Commitment to fair pay
We want to guarantee fair pay (coverage of basic needs) that 
at least conforms to the national statutory minimum wage. 
Subject to national regulations, Siemens adheres to the 
principle of “equal pay for equal work”: for instance, equity 
in wages for women and men with the same job profile or role.
We also review pay parity at regular intervals in order to 
eliminate unjustified differences (given the same job profile, 
role, competencies, experience, performance, etc.) as ­further 
testimony of our unwavering commitment to fair pay for our 
people. In fiscal 2023 we reviewed our 19 largest companies 
in different countries (selected by revenue)2 on the basis of our 
defined, market-based pay parity methodology. We are 
working with these companies to establish a long-term 
­cultural change that supports our pay parity ambitions. 
Employee benefits and opportunities for today 
and tomorrow
In an ever-changing world, we continuously review and 
modernize employee benefits. We offer flexible benefits 
programs that support our people’s physical, mental, finan-
cial, career, and social well-being throughout their work-life 
journey. With equity and inclusion in mind, the Siemens 
benefits programs2 aim to empower our people to realize 
their full potential and strengthen their resilience through a 
variety of benefits programs, insurance policies, retirement 
arrangements, and elective coverage. With an eye on sus-
tainability as well as the diverse and evolving needs of our 
global team and their families, the external market is closely 
monitored for the latest industry trends and innovations. 
 SIEMENS FINANCIAL REPORT FOR FISCAL 2023, COMBINED MANAGEMENT 
REPORT, PENSIONS
Eligibility for Siemens sponsored benefits such as share 
plans, company pension scheme, the employee benefits 
programs, and parental/family leave regulations varies by 
country. Country-specific plans generally follow local regula-
tions and market practices.
Work-life balance
To provide our people with even more flexibility and individ-
ual solutions, we offer flexible working models. These models 
are structured according to local requirements and in ways 
that are compatible with the employees’ roles. For instance, 
Siemens offers mobile working, part-time hours, sabbaticals, 
time-outs, parental/family leave, and partial early retirement. 
Parental leave for first and second care enables our people to 
manage their unique work-life needs.
2	
Siemens without SHS.
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85
5.1 Working at Siemens

There are other options that our people in Germany can 
benefit from; for example, approximately 1,3002 childcare 
places, a summer vacation childcare program, and parent-­
child health retreats.
The FutureOfWork@SIEMENS initiative
The Siemens #FutureOfWork initiative tackles structural 
changes in the working environment by asking two essential 
questions: 
→	HOW will we work in the future? (#NewWork)
→	WHAT will we work on in the future? (#NextWork)
#NewWork focuses on helping organizations and individuals 
become more flexible and adaptable. For instance, exploring 
new forms of agile organization, collaboration, leadership, 
and flexible working conditions.
In 2020, Siemens introduced #NextWork, which is a method-
ology we use to proactively tackle the changing environment 
by preparing the organization and our people to stay relevant 
and employable. With #NextWork, we’re addressing the key 
question of what our future jobs will look like. This includes 
identifying the roles, skills, and tasks of tomorrow and pro-
viding specific and actionable workforce transformation 
roadmaps through our WIN, GROW, and BOND measures. 
 PROFESSIONAL EDUCATION AND LIFELONG LEARNING
Engagement with stakeholders
To highlight our culture of trust and empowerment, we are 
pursuing two initiatives that concentrate on understanding 
and taking account of our people’s experiences and recog-
nizing their achievements:
We use the results of our Siemens Global Engagement 
­Survey (SGES)2 at regular intervals to assess the efficiency 
and success of our actions and to derive any necessary steps 
for improvement. In January 2023, we had a response rate 
for the SGES of 65% (decrease of 4 percentage points from 
the year before). Our People Net Promoter Score (pNPS) was 
39 (+3 points from the prior year).
Mobile working has been established as a core element of 
the “New Normal” in order to promote a sustainable work 
culture and environment.
We also encourage our people to achieve a balance between 
work and caring for relatives. As this topic continues to grow 
in importance, we will support our people in Germany who 
provide care for close family members. We offer a variety of 
support options through the Elder Care program. This pro-
gram is based on four pillars: time off work and flexible 
working, communication, counseling, and training on health 
matters.
Childcare at Siemens
In fiscal 2023, as part of its family-friendly corporate policy, 
Siemens AG supported its people in Germany with a general 
tax-free childcare allowance of up to €100 per calendar 
month per child for the care of preschool-age children at a 
day-care center or similar facility. Siemens AG also grants its 
part-time employees in Germany a tax-free childcare allow-
ance during parental leave for children up to 14 months of age.
2	
Siemens without SHS.
Progress on DEGREE ambition #11:  
Global commitment to the New Normal 
Working Model1
At Siemens, mobile working and flexibility of work 
location in the established hybrid New Normal Work-
ing Model (2–3 days of mobile work per week as a 
standard offering for our people worldwide) also 
strengthen our ability to attract and retain the best 
talent. Our DEGREE ambition of a global commitment 
to the New Normal Working Model supports this aim 
worldwide.  OUR DEGREE SUSTAINABILITY FRAMEWORK
Progress
1	
For employees with job profiles that make this possible and reasonable. 
Siemens without SHS
E
Equity
Rollout continued
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5.1 Working at Siemens

Siemens employees
(in % of total number of employees)
September 30, 2023
24% 
Asia, 
Australia
21%
Americas
55%  
Europe, C.I.S.1,  
Middle East,
Africa
320,000
total
1	
Commonwealth of Independent States.
27%
Women as a  
percentage of total 
employees
Hires and exits
The number of new hires decreased by approximately 14% 
compared to fiscal 2022, and the number of exits decreased 
by about 15%. All other differences result from changes in 
the basis of consolidation and other changes.
Employees hired
Fiscal year
(in thousands)
2023
2022
Siemens
40.7
47.3
Europe, C.I.S.¹, Middle East, Africa 
17.3
19.3
Americas 
12.0
13.8
Asia, Australia 
11.4
14.3
1
Commonwealth of Independent States.
Women hired
Fiscal year
(as a percentage of new hires)
2023
2022
Siemens
30
30
Europe, C.I.S.¹, Middle East, Africa 
29
28
Americas 
29
33
Asia, Australia 
32
30
1
Commonwealth of Independent States.
Employee turnover rate¹
Fiscal year
(in %)
2023
2022
Voluntary turnover rate2
5.3
6.6
Involuntary turnover rate3:
4.3
5.0
• Dismissals
1.1
1.2
• End of temporary contract,  
mutual ­consent 
1.6
1.9
• Retirement
1.2
1.3
• Other reasons
0.4
0.6
Total
9.6
11.6
1
Employee turnover is defined as the ratio of voluntary and involuntary exits from 
Siemens during the fiscal year to the average number of employees.
2
Voluntary turnover rate is based on employee decisions.
3
Involuntary turnover rate is based on other reasons, including dismissals, end of 
temporary contracts, mutual consent, (early) retirement, death, and other reasons 
that are not an employee decision.
In addition, the Werner von Siemens Awards2 are given in 
seven different categories to honor achievements that have 
had a positive impact on Siemens and beyond. Sustainability 
is an integral focus of the Werner von Siemens Awards. In 
2023, the trophies were presented to the strongest Business 
Unit, country and five project teams that enabled our cus-
tomers to transform their industries, accelerated digitaliza-
tion, contributed to technological innovation, empowered 
Siemens’ people, and positively impacted society and the 
environment. Approximately 7,600 employees participated 
in this competition in 2023 and submitted 395 entries.
Employee structure and change
As of September 30, 2023, Siemens employed 320,000 
people around the world. This amounts to an increase of 
about 9,000 employees from September 30, 2022. 55% of 
our employees were based in Europe, the Commonwealth of 
Independent States (C.I.S.), the Middle East, and Africa, 24% 
in Asia and Australia, and 21% in North America, Central 
America, and South America.
The percentage of women in the total workforce is 27%.
2	
Siemens without SHS.
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5.1 Working at Siemens

Employment characteristics
In fiscal 2023, 94% of our own workforce had permanent 
contracts.
Permanent and temporary employees
Fiscal year
(in thousands)
2023
2022
Permanent
300
290
Temporary
19
20
Total
320
311
4% of our own workforce used part-time working models.
Full-time and part-time employees
Fiscal year
(in thousands)
2023
2022
Full-time
305
295
Part-time
14
14
Total
320
311
Age structure
(as a percentage of total employees)
September 30, 2023
1	
Commonwealth of Independent States.
59%
16%
25%
56%
13%
30%
53%
15%
32%
71%
21%
8%
< 30
30 – 50
> 50
Siemens
Europe, C.I.S.1, 
Middle East, Africa
Americas 
Asia, Australia 
Changes in age distribution
The distribution of employees by age group remained almost 
unchanged from the previous year. The average age in fiscal 
2023 was 42 years.
Further data on Working at Siemens are disclosed in the 
indicator table.  OUR SUSTAINABLITY INDICATORS
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5.1 Working at Siemens

5.2
Diversity, Equity & Inclusion 
–	 Focus on strengthening a sense of belonging 
–	 Greater equity of opportunities continues through 
our global Gender Equity Program1
–	 One of our DEGREE ambitions: 30% female share in 
top management by 20251
Management approach
At Siemens, we transform the everyday, for everyone – for 
our customers, our people, and society at large. This also 
means committing to diversity, equity, and inclusion.
We strive to create a work environment where our people are 
empowered and feel a sense of belonging. We believe that 
diversity positively impacts our teams and workplace and 
leads to more creative and innovative solutions. At Siemens, 
diversity means the inclusion and interaction of different 
ways of thinking, backgrounds, experiences, skills, and indi-
vidual qualities across all levels and dimensions of the com-
pany. Equity is an essential part of our corporate culture. 
Inclusion enables every voice to be heard and every individual 
to get involved.
We believe that focusing on diversity, equity, and inclusion 
reduces the risk of making biased talent decisions. We have 
implemented recruitment and promotion strategies that 
promote equity of opportunities through our Gender Equity 
Program (GEP)1. We also offer various training opportunities 
on our new Diversity, Equity, and Inclusion (DEI) Learning 
Channel, we empower managers and teams through our 
Belonging Playbook, and we foster an open dialog and 
insights on diversity, equity, and inclusion for all our people 
on our Belonging Days. This helps us to foster a diverse work 
environment.1  PROFESSIONAL EDUCATION AND LIFELONG LEARNING
Our governance and policies for diversity, equity, 
and inclusion
We have established a global Diversity, Equity, and Inclusion 
(DEI) unit that is active in many regions of the world. Led by 
our Chief Diversity Officer (CDO), the global Diversity, Equity, 
and Inclusion Office manages and supports a wide range of 
activities.
Siemens Healthineers has its own Diversity, Equity, and 
Inclusion (DEI) organization to manage and orchestrate 
ambitions and activities.
Our commitment to Human Rights is anchored in our 
Siemens Business Conduct Guidelines (BCGs) and global 
Human Rights policy. We do not tolerate discrimination, 
sexual or any other form of harassment, or inappropriate 
behavior toward individuals or groups. The guidelines clearly 
state:
→	“We respect the personal dignity, privacy, and rights of 
each individual. We believe diversity enriches our work-
place. We work together without regard to ethnic origin, 
culture, religion, age, disability, skin color, gender, sexual 
identity and orientation, or world view.”
→	“We respect the human rights of local communities and of 
people who are particularly vulnerable.”  HUMAN RIGHTS
We foster a sense of belonging to empower our people and 
to discover untapped growth potential in every individual. 
This principle is reflected in the motto #BelongingTrans-
forms.1
Siemens also participates in strategic sponsorships and 
partnerships that facilitate worldwide programs and initia-
tives, including the Diversity Charter. Initiatives like these 
enable Siemens to strengthen its commitment to promoting 
diversity, equity, and inclusion for all its people.2
1	
Siemens without SHS.
2	
Siemens AG Germany.
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5.2 Diversity, Equity & Inclusion

Targets
Equity is one field of action in our DEGREE sustainability 
framework that contributes to a greater sense of belonging 
for all our people. DEGREE ambition #9 – “30% female share 
in top management” – is aimed at continuously improving 
gender equity.1
Our commitment to greater gender equity is not limited to 
top management or to complying with statutory and regula-
tory requirements; rather, it aims to ensure equal opportunities 
for all genders at all levels of our company.
Progress on DEGREE ambition #9: 
30% female share in top management  
by 2025
We aim to increase the percentage of top manage-
ment positions held by women globally to 30% by 
September 30, 2025.1 As of September 30, 2023, 
31.1% of top management positions were held by 
women (+3.4% points compared to the previous 
year).  OUR DEGREE SUSTAINABILITY FRAMEWORK
Progress
1	
This does not affect local or company-specific diversity targets and 
requirements set by law or regulation. More details about the targets and 
staffing requirements that apply to Siemens AG, as well as the diversity 
concepts that are being pursued for the Supervisory Board and Managing 
Board of Siemens AG, can be found in the annual Corporate Governance 
Statement available on the Siemens Investor Relations website under the 
Corporate Governance heading.
Siemens without SHS
E
Equity
Actions and results
We actively promote diversity, equity, and inclusion by creating 
a working environment that is open and welcoming to all 
people.
Global LGBTQIA+- Standards and further 
activities
Siemens supports the UN Initiative for Global LGBTQIA+- 
Standards of Conduct for Companies.1 
In alignment with the Diversity Charter, Siemens and its 
General Works Council have initiated activities like “Respect 
and Appreciation,” which sponsors local projects intended to 
bring these values to life for our people in Germany.
Our German prototype program “Trans* at work” supports 
our people with collegial counselling before, during, and 
after transition.1 Following its success, we developed rele-
vant program guidelines for our people and managers. In 
addition, we were able to work with our people to identify 
Trans Advocates who could serve as a first point of contact 
for any inquiries about the program.1
Siemens also released a global Diversity, Equity, and Inclusion 
Learning Channel to raise awareness of the importance of a 
more equitable and inclusive workplace and to recognize 
and address any potential biases or discriminatory practices.1
Integrating diversity, equity, and inclusion into 
all aspects of our people experience journey
During the regular review of our practices, we realized that 
integrating diversity, equity, and inclusion into all aspects of 
our people experience – from recruitment and onboarding 
to career development – is the key element in a more diverse 
and inclusive working environment.
We launched our global Gender Equity Program (GEP)1 with 
the aim of ensuring equity of opportunities across the entire 
organization – from equitable hiring into business functions 
and equitable promotions to management to representation 
of women in top management.1
FY 20: 22.7%
30% by 2025
31.1%
1	
Siemens without SHS.
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Inclusion of people with disabilities
Siemens strives to ensure equity for people with disabilities, 
their inclusion in society and the workplace, their self-deter-
mined participation, and their right to be treated with 
respect. At Siemens, we believe that each person is of value 
and importance, regardless of their ability. And while we aim 
for a barrier-free work environment at Siemens, inclusion 
means more than just accessibility. It is a holistic way of 
thinking and acting that eliminates both visible and invisible 
barriers and encourages a culture of conscious, equitable 
participation and understanding. We believe that this way of 
thinking supports and enables people with disabilities to be 
included and to give their best.
The Ability@Siemens1 initiative promotes a culture of inte-
gration for approximately 4,8003 disabled people currently 
working at Siemens in Germany. It is based on an inclusion 
agreement with the general representative board for dis-
abled employees.4
Global awareness days foster the spirit of 
tolerance and acceptance
We foster the spirit of tolerance and acceptance at Siemens 
worldwide through our internal campaigns on global aware-
ness days: for instance, International Women’s Day and 
Global Accessibility Awareness Day. Beyond, in our Belonging 
Days, we are offering insights and learning opportunities on 
DEI via a global broadcast to all our people.1
Siemens also joined the Valuable 500, an initiative launched 
by the World Economic Forum to place the concerns of per-
sons with disabilities on companies’ management agendas.1 
We support Employee Resource Groups (ERG)1 and people-­led 
activities to help transform our business by bolstering a 
commitment to diversity, equity, and inclusion. These groups 
include Siemens PRIDE (global), the Neurodiversity Network 
(United Kingdom), the Black Professional Network (United 
States), and Women in Tech (China).
In our Pride@SIEMENS networks for the LGBTQIA+5 Commu-
nity, our people around the world can meet and share their 
thoughts, feelings, and support each other. People on the 
LGBTQIA+ spectrum and straight allies6 are equally welcome.
Accountability of our local CEOs and business 
leaders
A lesson learned on our journey to fostering diversity, equity, 
and inclusion is that the involvement and accountability of 
our local CEOs and business leaders is integral to the success 
of the DEGREE sustainability framework Equity1 field of 
action. This led to our regular CEO Check-In sessions with the 
aim of acquiring a deeper understanding of our local com-
munities and the societies in which we operate.
Women in the workforce 
In fiscal 2023, the share of women in the own workforce at 
Siemens was 27%.
For many years, we have been working to build a diverse, 
equitable, inclusive corporate culture, and we have achieved 
measurable success. This includes our efforts to increase the 
global share of management positions held by women by 
the end of fiscal 2025. In fiscal 2023, 32,900 employees 
held management positions at Siemens7. The share of 
women in management positions was 21.6%.
Further data on Diversity, Equity & Inclusion at Siemens are 
disclosed in the indicator table.  OUR SUSTAINABILITY INDICATORS
We are also pursuing a variety of initiatives, programs, and 
measures to foster a cultural change toward gender equity, 
diversity, and integration. The following represent two of the 
many different women’s networks around the world:
1	
Siemens without SHS.
3	
The number of severely handicapped employees (SHE) is based on legally defined 
guidelines and specifications according §§ 154-1+3 SGB IX (German Social Law).
4	
Inclusion Agreement for Siemens AG Germany. 
5	
Lesbian, gay, bisexual, trans, queer, intersexual, and asexual.
6	
“Straight allies” are persons who identify as heterosexual and cisgender who support 
the LGBTQIA+ movement and speak out against homophobia, lesbophobia, and 
transphobia.
7	
Employees in management positions include all managers with disciplinary responsibility.
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5.2 Diversity, Equity & Inclusion

→	Global Leadership of Women@Technology & Innovation 
(GLOW@TI)1: The GLOW@TI network aims to promote 
careers for women with a background in science. Women 
in this network are often appointed to technology field 
and research group management positions. 
→	GROW2GLOW1: The GROW2GLOW network provides 
­business coaching for women as a way of helping them 
realize their full potential. The network comprises more 
than 140 coaches in 13 countries.
Our people’s satisfaction with their belonging, 
inclusion, and well-being
In our Siemens Global Engagement Survey (SGES)1 in fiscal 
2023, we asked our people about their belonging, inclusion, 
and well-being. We are constantly working to make our 
people feel that they can be themselves at work by imple-
menting the measures mentioned in this section – throughout 
the people experience journey at Siemens.
In fiscal 2023, Siemens received many diversity prizes and 
awards worldwide, including the “#Diversity:IN” in the United 
States and “Best Place to Work for LGBTQ+ Equality – Human 
Rights Campaign (HRC)” in Mexico.1
1	
Siemens without SHS.
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5.2 Diversity, Equity & Inclusion

5.3
Professional education and lifelong learning
–	 Broad portfolio for vocational education and train­
ing (VET) and lifelong learning
–	 MyGrowth program to foster individual growth and 
performance at scale
–	 One of our DEGREE ambitions: 25 digital learning 
hours by 20251
Management approach
Siemens’ continued growth and success depends on our 
highly qualified and skilled people. That’s why we have 
developed an extensive portfolio of lifelong learning oppor-
tunities to empower our people and help them acquire rele-
vant skills and enhanced resilience for today and tomorrow.
We are continuously improving our learning, career develop-
ment, and growth opportunities to positively impact our 
people. We focus on lifelong learning and upskilling to 
enable our people to adapt to an ever-changing environ-
ment. We promote a growth mindset in order to create an 
inclusive, empowering culture of growth and transformation 
that helps enhance our people’s employability and supports 
our sustainable business success.
Our comprehensive learning portfolio enables us to continu-
ally expand and evolve our people’s core competencies. We 
aim to support our people in successfully managing transi-
tion and change while simultaneously enhancing Siemens’ 
agility and resilience. Today’s talent recruitment needs to 
satisfy an increasing need for digital and technical expertise. 
As the pace of technological development and digitalization 
reduces the half-life of expertise, continuous learning and 
upskilling is fundamental to Siemens’ continuing success.
Our ongoing investments in vocational education and train-
ing (VET) and talent-entry programs also help us attract and 
retain talents.
Our P&O Talent & Leadership governance and 
policies
Siemens’ global P&O Talent & Leadership unit is responsible 
for winning, developing, connecting, and retaining talents 
(WIN, GROW and BOND).
Our Global Learning and Growth (GLG) unit is responsible for 
learning and individual growth at scale by orchestrating and 
managing our Siemens Learning & Growth ecosystem, 
including our MyGrowth program, with our learning experi-
ence platform My Learning World, our policies, and other 
strategic learning initiatives. It gives orientation and guidance 
to our people and leadership and manages development 
opportunities around the globe. We provide a broad range of 
trainings that cover technology and other specialties, along 
with developmental courses for inter-personal skills like 
team leadership and team building.
Siemens Professional Education (SPE) coordinates and 
­manages our international apprenticeships and dual-study 
programs to support ongoing talent development.
As part of our commitment to our strategic priorities of 
Empowered People and Growth Mindset, a core focus is on 
driving awareness of the importance of lifelong learning. 
Siemens’ objective is to help our people manage change 
effectively and support them in remaining resilient as indi-
viduals and relevant to the employment market.
Targets
In our Siemens DEGREE sustainability framework, our learn-
ing ambition and measures related to lifelong learning are 
embedded in Employability, one of the six fields of action, in 
order to encourage our people’s resilience.1
1	
Siemens without SHS.
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5.3 Professional education and lifelong learning

Progress on DEGREE ambition #12: 
Increase digital learning hours  
to “25 by 25”
In terms of our DEGREE ambitions, each employee 
completed 23 hours of digital learning (+16 hours 
from fiscal 2020, the basis year – a 229% increase). 
 OUR DEGREE SUSTAINABILITY FRAMEWORK
Progress
Siemens without SHS
Management compensation at Siemens also includes a life-
long learning component. It incorporates long-term perfor-
mance incentives based on ESG criteria and is defined under 
Governance in our DEGREE sustainability framework. The 
assessment is based on the internal ESG/Sustainability Index, 
which includes, among other things, digital learning hours.2 
 SUSTAINABILITY GOVERNANCE AND ORGANIZATION
Actions and results
As a responsible employer, we offer a wide range of profes-
sional education and learning opportunities to our people. 
These opportunities include development programs, talent-­
entry programs, future-oriented learning, re- and upskilling, 
and additional funding for appropriate programs.
Customized development programs for our people
Our development programs are customized for both global 
and local use. Key programs include:
→	Siemens Core Learning Paths (CLP): Designed for specific 
areas like sales, project management, procurement, 
­production, and software architecture, CLPs provide self-
guided learning content and trainer-supported virtual 
training sessions. In fiscal 2023, a total of 29 CLPs were 
made available to target groups worldwide. 
→	With our Siemens Potential Development Programs 
(PDP)1, we have created an ever-growing network of more 
than 4,000 people from 57 countries which constantly 
feeds our talent pipeline. Almost 40 certified programs 
are hosted by different organizations according to their 
specific business needs. They enable talents to acquire 
skills that address current and future needs through accel-
erated learning interventions and stretch assignments in 
order to equip them to be powerful transformation 
agents.
→	GLOW@TI (Global Leadership of Women@Technology & 
Innovation)1: The GLOW@TI initiative focuses on attract-
ing, developing, and retaining talented women with a 
background in STEM and associated innovation fields. The 
initiative helps women realize their full potential and 
promotes a culture of innovation by building strong net-
works between departments and organizations.
→	Siemens Leadership Excellence (SLE)1: Our SLE programs 
are designed to connect and enable our leaders. The 
objective of our SLE Pipeline programs for high-ranking 
executives and global talents is to strategically strengthen 
our succession planning. Our top management leadership 
program Leading in Sustainability helps participants think 
strategically about sustainability opportunities for 
Siemens, identify sustainable solutions to their business 
challenges, and provide a common understanding of the 
core competencies and organizational readiness required 
for corporate management and transformation. The SLE 
Leaders’ Labs for alumni also enable Siemens to build a 
strong global network of managers, both within the 
organization and beyond. As one of the strategic learning 
priorities, we initiated the new scalable L.E.A.P. – Lead. 
Empower. Accelerate. Practice. program in 2023 for all 
management levels.
Our talent entry programs for individual career 
paths
Siemens’ development and integration of the next generation 
of leaders will allow us to build diverse and agile manage-
ment teams capable of successfully managing change and 
transition and driving growth. Our people are grounded in a 
strong growth mindset and values of cohesion and dedication 
that extend above and beyond our programs and even their 
time at Siemens. 
E
Employability
FY 20: 7h
25h by 2025
23h
1	
Siemens without SHS. 
2	
Assessment based on the Siemens internal ESG/sustainability index, which is based on 
customer satisfaction (Net Promoter Score), CO2 reduction, and digital learning hours.
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5.3 Professional education and lifelong learning

→	Xcelerate Your Potential at Siemens – XPS Leadership 
Program1 is an opportunity for outstanding candidates in 
the field of digital business management. By developing 
their skills and their global networks, the program sup-
ports participants develop in leadership roles.
→	Finance Excellence Program (FEP) is a finance leadership 
program that builds a foundation for future commercial 
leaders with a digital mindset. Participants benefit from 
being assigned a personal mentor from Siemens’ finance 
leadership team and customized development measures. 
→	Siemens Graduate Program (SGP) is an international 
trainee program for high-potential candidates with a 
master’s degree that has been in existence for more than 
100 years. It offers a customized development journey 
and excellent networking opportunities throughout the 
company.
Our shift to digital learning is key
We have seen digital learning accelerate in recent years as 
the global pandemic compelled a shift in how we deliver 
our learning programs. This digitalization trend was well-­
received. Based on the positive reception, we added more 
digital training programs, modules, and courses with the 
intention of ensuring broad-based participation and providing 
learners with flexibility.
Future-oriented learning and career 
development instruments
The MyGrowth program combines our learning and career 
development tools and content to promote continuous 
growth at scale and carve out career progression paths for 
our people. This program comprises the following three 
components:
→	MyGrowth Self-Reflection: To build a successful career, it 
is essential for our people to know their own strengths 
and weaknesses and to be aware of their personal stage 
of development. A variety of tools and services are offered 
along with content that includes identifying strengths 
(Strengthscope®), perception of others (feedback tool), 
and coaching (Peer2Peer).
→	MyGrowth Learning1: Our AI-driven learning platform 
My Learning World creates a personalized learning expe-
rience that is globally accessible any time and offers more 
than 135,000 learning resources across a variety of topics 
and formats in order to meet our people’s varied learning 
preferences and requirements. Our people can benefit 
from multiple learning formats including videos, e-learning 
modules, virtual training courses, technical literature, 
podcasts, and e-books.
→	MyGrowth Career: This program allows our people to 
shape their own career development. It is integrated into 
a holistic concept and focuses on the individual’s career 
trajectory. Core components of MyGrowth Career include 
the open markets reflected in the Open Job Market and 
People Profile and other options like Job Tagging (show-
ing interest in a particular department), Job Shadowing, 
and Mentoring to encourage personal growth.
Siemens Growth Talks are the connecting links between the 
elements mentioned above. All of our people receive regular 
performance reviews in the form of Siemens Growth Talks. 
These agile, ongoing, forward-looking, strength-based 
­conversations support both individual and organizational 
growth, performance, and well-being. Support materials like 
discussion guidelines, questions for reflection, and workshop 
templates help our people, teams, and managers maintain 
an ongoing, respectful, and encouraging dialog on personal 
development and learning.
Future Fund supports the transition to a new 
world of work
Siemens AG and its Central Works Council intend to take a 
proactive role in shaping structural change. We’re working 
together to create a learning organization that can master 
structural transformation as well as optimize the opportunities 
of change that will benefit our people. A Future Fund has 
been established to support development programs intended 
to help our people stay oriented in a disruptive employment 
environment. In particular, it enables them to qualify and 
learn beyond their previous limits. It finances projects related 
to structural change that go beyond site boundaries, with 
support from the site management and the Central Works 
Council.
1	
Siemens without SHS.
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5.3 Professional education and lifelong learning

Siemens AG in Germany allocated a total of €100 million for 
the Future Fund that will be invested over a period of four 
fiscal years starting in January 2019. The term of the Future 
Fund has now been extended to 2026. More than €3 million 
were approved for Future Fund projects in fiscal 2023, about 
€11 million less than in the previous year. 
Our open SiTecSkills Academy for technical  
re- and upskilling
Working with our external education partners, we opened 
the SiTecSkills Academy to the wider learning ecosystem, 
because we want to share our expertise and experience in 
skilled worker qualification with our customers and other 
companies. In fiscal 2023, we had 18 training centers in 
Germany that offered about 200 trainings focused on technical 
re- and upskilling, complemented by professional consulting 
and support.
Vocational training to start your career
With a dedicated in-house education institution for voca-
tional training – Siemens Professional Education (SPE) – 
Siemens is one of the largest training companies for 
secondary school graduates. SPE offers apprenticeships and 
dual-study programs in technical, IT, and commercial fields 
to enable young talents to strengthen their existing capabil-
ities and acquire the new skills needed to shape a digital and 
automated future. In fiscal 2023, we had approximately 
5,800 apprentices and students in dual-study programs 
worldwide.
Lifelong learning is crucial to success
On average, each employee spent about 30 hours in digital 
learning or on-site trainings during the fiscal year. Our new 
training opportunities and learning week promotions 
resulted in an increase in the number of training hours in 
fiscal 2023.
In fiscal 2023, Siemens invested €237 million in our people’s 
training, which corresponds to an average of €753 per 
employee. In total, we invested approximately €416 million 
in employee education and training.
Further data on professional education and lifelong learning 
at Siemens are disclosed in the indicator table. 
 OUR SUSTAINABLITY INDICATORS
Our people shape Siemens’ learning activities
In our regular Siemens Global Engagement Survey (SGES)1 in 
fiscal 2023, we asked our people about the growth mindset 
culture and their satisfaction with our learning opportunities.
The feedback of the SGES underlines that digital learning 
offers our people access to many more learning opportuni-
ties and greater flexibility.
The survey results also shed light on the fact that our estab-
lished Siemens MyGrowth program was successfully pro-
moted worldwide and was well-received by our people. This 
was confirmed when we were recognized with several 
awards in fiscal 2023, such as two “Red Dot Design Awards” 
in the categories “Corporate Design” and “Educational Illus-
tration” for MyGrowth.
We will continue to use the survey results to focus on 
­strategic learning and continuously shaping our portfolio 
of future-oriented learning opportunities.
1	
Siemens without SHS.
Average training hours per employee
Average training hours per employee by gender  
in fiscal 2023:
Women: 
∅ 28h
Men: 
∅ 30h
No/other  
gender entry:
∅ 18h
∅ 30  training hours per employee.
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5.3 Professional education and lifelong learning

5.4
Occupational health and safety management
–	 Resilience and well­-being are at the core of 
­occupational health and safety management
–	 The Healthy & Safe @ Siemens program will 
­continue to be rolled out worldwide
–	 Further reduction in the accident rate
Management approach
At Siemens we are committed to creating a healthy and safe 
work environment for our people and to sustainably support-
ing their well-being and performance. 
The world of work is changing dynamically, as are the 
demands and needs regarding health and safety. A core task 
for our occupational health and safety department is to 
maintain and further improve the resilience, adaptability, 
and well-being of our people. We believe that focusing on 
health and safety management reduces the risk of physical 
injuries and mental ill health. Siemens aims to mitigate 
health and safety risks effectively through management 
systems, designing healthy and safe working conditions, 
internal monitoring, and controls. Our Employee Assistance 
Program also supports our people in coping with psychosocial 
personal concerns through individual counseling. Adapting 
and re-designing our work systems is a continuous task. The 
goal is to empower our people to get involved, engage, and 
participate. By changing the way we work, digitalization 
provides the opportunity to steadily improve our health and 
safety assessments and management systems globally.
Our occupational health and safety governance 
and policies 
The Environmental Protection, Health Management, and 
Safety (EHS) department manages health and safety mea-
sures at Siemens. It is organized locally, integrated into each 
business unit and each regional company, and reports 
directly to the respective business manager.
EHS Officers coordinate the collaboration of EHS experts 
across the various fields of action. The main task of this 
expert function is to advise managers and teams. The func-
tion’s profile has changed significantly in recent years: 
Rather than monitoring compliance with rules and workflows 
as in the past, the focus is now on supporting our people in 
dealing safely with dynamically changing requirements. 
Health and safety committees that meet regularly have been 
established in the relevant country organizations and on the 
local level. Here, management and employee representatives 
jointly coordinate the specific measures and initiatives 
needed for a healthy and safe work environment. 
Based on our Business Conduct Guidelines (BCGs), we have 
established internal monitoring systems and a company-­
wide risk management and control process.
We anchor our actions in Siemens’ EHS Principles, which 
embed our EHS policy. They also include an obligation for all 
operating units to demonstrate a management system certi-
fiable to ISO 45001. The effectiveness of these management 
systems is subject to an annual internal review that checks, 
among other things, whether processes for risk assessments 
and emergency management are implemented in accor-
dance with internal and external regulations, that inspec-
tions and reviews have been carried out, significant risks and 
opportunities have been identified and whether they are 
reflected in measurable goals and measures. The manage-
ment system is also externally certified according to market 
requirements in the respective operating units. 
Siemens’ suppliers commit to upholding the Siemens Group 
Code of Conduct for Suppliers and Third-Party Intermediaries 
and Business Partners. This Code of Conduct obligates our 
suppliers to comply with health and safety standards and to 
take responsibility for the health and well-being of their 
employees.
SIEMENS SUSTAINABILITY REPORT 2023 
97
5.4 Occupational health and safety management

Progress on DEGREE ambition #14:  
30% improvement in Siemens’ globally 
aggregated LTIFR by 2025
30% improvement in the global accident rate (LTIFR) 
by 2025 (base year: 2020) – compared to the refer-
ence value of 0.31 in fiscal 2020, we have achieved 
an improvement of 26% to date. 
Progress
Siemens without SHS
Progress on DEGREE ambition #13:  
Access to Employee Assistance Program: 
Maintain high level and expand to 100% 
globally by 2025
100% access to the Employee Assistance Program 
(EAP) by 2025 – As an integral part of our psychosocial 
risk management, the EAP anonymously supports 
individual employees in coping with psychosocial 
stress through individual consultations. In 2023, 96% 
of all our colleagues worldwide had access to EAP. 
This enables us to not only support all our people 
worldwide in developing health-promoting behaviors, 
but shall also help to raise general awareness of psy-
chosocial issues in society as a whole. 
Progress
Siemens without SHS
Targets
One of the DEGREE sustainability framework fields of action 
is Employability1. This speaks to the ability of our people to 
successfully manage continually changing requirements. In 
addition to continuous professional development, individual 
resilience is essential for adapting to challenging life events 
and work situations. With our health and safety ambitions to 
maintain and expand access to the Employee Assistance 
Program (EAP) and improve the global aggregated accident 
rate (LTIFR), we are contributing to the DEGREE field of 
action Employability.1
We design healthy and safe working conditions by continu-
ously monitoring and evaluating potential risks and deriving 
appropriate measures. By doing so, we aim to enable our 
people to achieve a balanced state of well-being, better 
handle stressors, and use their capacities and resources with 
greater awareness. Moreover, we empower our people to 
grow, work more productively, and make important contri-
butions to the company’s success. 
 WORKING AT SIEMENS To 
achieve this, we provide a broad variety of resilience-focused 
activities that include training and curated learning paths via 
our learning platform. 
 PROFESSIONAL EDUCATION AND LIFELONG 
LEARNING
E
Employability
FY 20: 82%
100% by 2025
96%
FY 20: 0.31
–30% by 2025
– 26%
E
Employability
1	
Siemens without SHS.
SIEMENS SUSTAINABILITY REPORT 2023 
98
5.4 Occupational health and safety management

Elements of Healthy and Safe @ Siemens 1
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Principles
Actions and results
The Siemens-wide strategic priority of having empowered 
people guides our actions in the areas of health and safety. 
Safety, health, resilience, and well-being are intangible 
assets for our company. 
The company-wide Healthy and Safe @ Siemens 
program1
Our company-wide Healthy and Safe @ Siemens (HS @ S) 
program invites employees to help shape leadership, learn 
from each other, increase well-being at work, and promote 
innovations and improvements in occupational health and 
safety. It is based on five principles:
In the second step, measures are defined and agreed upon 
for resilient health & safety management. 
The results are then evaluated in the third step.
The principles guide the process of HS @ S in three steps: 
reality check, resilient health and safety management, and 
evaluation.
The reality check helps build a comprehensive understanding 
of the status of health and safety. It includes a survey that 
provides a snapshot of employee perception across various 
aspects in the categories “work climate,” “leadership,” “learn-
ing,” and “processes and resources.” Results are reviewed 
and potential for improvement is identified. Based on the 
first rollout of the HS @ S, additional perspectives – including 
the perceptions of management in key functions and data-
based expert views – were added to the reality check. 
­Furthermore, in fiscal 2023, the management’s perceptions 
of our business challenges and their impacts on health and 
safety were added by interviews and specific local factors 
influencing health and safety were further analyzed. 
We care for our own and each other’s well-being. 
We speak up and take part in making the workplace 
healthier and safer.
We are inclusive and invite a diverse range of views 
on health and safety.
We are engaged in learning and sharing about how 
we can work better, safer, and healthier. 
We prepare for and adapt well to changing circum-
stances.
Siemens has created a toolbox containing the necessary 
materials for implementing the HS @ S process that can be 
customized to each country, location, and business.
The program is designed to run until 2030. Individual priorities 
and objectives may be adjusted over time. Two of the key 
results (access to Employee Assistance Program and 30% 
improvement in the global accident rate (LTIFR)) have also 
been incorporated into the DEGREE sustainability framework 
in the field of action Employability.1
Continued demand for occupational health and 
safety management 
Addressing the increasing need to enhance both individual 
and organizational resilience is crucial in today’s world. This 
is essential for the sustainability of our business operations 
and also aligns with the sustainability imperative. Over the 
last few years, our health and safety management continued 
to prove its resilience and reliability throughout diverse 
global crises.
1	
Siemens without SHS.
SIEMENS SUSTAINABILITY REPORT 2023 
99
5.4 Occupational health and safety management

To support our people’s resilience, we have implemented key 
measures: 
→	We have expanded the scope of learning and exchange 
opportunities, particularly regarding resilience, psycho-
logical safety, and psychosocial risk management. In fiscal 
2023, we added trainings on resilience and well-being to 
our new scalable Lead. Empower. Accelerate. Practice 
(L.E.A.P) learning program.
→	Managers and employees can take advantage of continu-
ously updated digital learning opportunities for self-­
determined learning. In the Siemens Learning World, 
these offerings are tailored to different target groups and 
are bundled according to topic. 
 PROFESSIONAL EDUCATION 
AND LIFELONG LEARNING 
→	In fiscal 2023, we launched the Digital Safety Transforma-
tion Series, offering an opportunity to provide our EHS 
professionals with guidance in developing digital safety 
strategies and remote safety management programs, 
implementing emerging technologies to control risk, 
deploying EHS software, and improving digital literacy.
→	Managers and team members engage in ongoing commu-
nication about health, safety, and well-being at work. 
→	We have implemented two global campaigns addressing 
contributing factors of injuries and mental health. We 
also address psychosocial risks in our EHS Hazards Identi-
fication, Risk Assessment, and Risk Control (HIRARC) pro-
cess. 
→	In addition, Siemens’ regional companies and business 
units have developed a variety of initiatives, including 
regular “Health Talks,” learning and action weeks, and 
“Safety Focus Days.”
The Siemens Safety Essentials
Maintaining health, safety, and well-being is a responsibility 
that is shared by our management and people. This respon-
sibility extends beyond providing workplaces in accordance 
with all applicable norms, standards, and requirements. To 
protect and train our people, we have established the Safety 
Essentials with core safety behaviors. We expect our people 
to adhere to those essentials at all times and to place health, 
safety, and the environment first in all that they do when 
working for Siemens.
 
 
 
Potential  
explosive gas  
and vapors
Confined space 
entry
Machine guarding 
signage and 
safety interlocks
Cranes and  
lifting
Working at height/
fall protection
Electrical  
Safety
Driver and  
vehicle safety
Hazardous  
energy control
Safety
Essentials
with core safety
behaviors
Safety Essentials
SIEMENS SUSTAINABILITY REPORT 2023 
100
5.4 Occupational health and safety management

Continuous expansion of health services
We are continuously expanding our spectrum of health ser-
vices to support the resilience and health of our people at 
work and beyond. In fiscal 2023, 99%1 of our employees 
have access to company medical care. This includes the 
prevention and early identification of health problems 
through health checks, screenings, and vaccinations. We 
treat health issues seriously and in a timely manner, which 
includes leveraging telemedicine consultations or referrals 
to experts. In addition, we facilitate a successful return to 
work by supporting our employees with reintegration mea-
sures and ergonomic advice.
94%1 of our employees were able to take advantage of a 
wide range of health education offerings designed to 
strengthen their health literacy. These offerings are delivered 
through a holistic approach that covers physical, mental, and 
social health and well-being. 
Accident numbers at a low level
In fiscal 2023, the number of work-related accidents further 
decreased, which correlated with the reduction in the global 
accident rate (LTIFR) for the same period. Accidents are 
analyzed and lessons are derived to continuously improve 
and minimize the occurrence of accidents. The characteris-
tics of this year’s accidents are comparable to the previous 
year:
78% of the reported incidents were assigned to the “minor” 
category (minor injuries like scratches and abrasions). Finger 
injuries continued to account for the majority of incidents.
4 fatalities occurred in fiscal 2023. One contractor lost their 
life due to burns sustained in an arc-flash incident, and 
another contractor passed away after being struck by a piling 
rig’s leg. Among the other two contractor fatalities, one 
occurred during ventilation maintenance using a lifting 
platform, and the other during work on a construction site 
while using a mobile scaffold. Each incident and fatality is a 
source of grief for the people concerned as well as their 
families, friends, and colleagues. Each incident is a renewed 
call for us to keep improving and ensuring a safe and healthy 
work environment for our people and partners.
1	
Siemens without SHS.
2	
Excluding temporary workers and contractors.
LTIFR Employees and Temporary Workers¹
Fiscal year
2023
2022
Employees
0.23
0.25
Temporary Workers²
0.30
0.38
Total
0.24
0.26
1
Lost Time Injury Frequency Rate (LTIFR): number of lost-time cases (LTC) × 200,000 / 
work hours; LTC are accidents that result in at least one lost day of work.
2
As a globally operating company, Siemens isn’t always authorized or able to obtain 
sensitive information about contract workers‘ health and occupational safety or 
complete figures on their work hours. As a result, the Temporary Worker LTIFR for 
Siemens includes only temporary workers hired by a temporary employment agency 
or under a contract for work and services. 
Fatalities (work-related)
Fiscal year
2023
2022
Employees
0
1
Temporary Workers
0
0
Contractors
4
1
Total
4
2
In fiscal 2023, a total of 62 occupational illness cases were 
registered.2 The majority of cases were attributed to occupa-
tional cancer.
Joint contribution to our health and safety 
approach
Our people contribute to our joint health and safety approach 
every day. There is no one-size-fits-all solution for imple-
menting health and safety due to differing requirements, 
tasks, and work situations throughout the company. Recog-
nizing this, we want to involve our employees in the design 
and implementation of our health and safety initiatives and 
programs. The active participation of our people enables our 
company-wide, country-specific, and business-specific initia-
tives and programs to thrive. For instance, psychosocial risks 
are assessed once a year via the work well-being factors 
embedded in the Siemens Global Engagement Survey 
(SGES)1. The relevant teams then discuss and document the 
risks, opportunities, and measures, and outcomes in a struc-
tured follow-up process.
SIEMENS SUSTAINABILITY REPORT 2023 
101
5.4 Occupational health and safety management

1	
Siemens without SHS.
5.5
Corporate citizenship
–	 Improving people’s living conditions
–	 Giving societies access to knowledge and  
technologies
–	 A variety of projects with three strategic priorities 
Management approach
Corporate citizenship has been an integral part of Siemens 
from the very beginning, with the aim to empower people 
and societies. As defined by Werner von Siemens over 
175 years ago, the company’s mission is to provide technol-
ogies that improve quality of life and create lasting value for 
society based on our portfolio, knowledge, and expertise. In 
alignment with this mission, our corporate citizenship pro-
gram aims to positively impact society in every country 
where we operate through voluntary work.
The foundation for our approach are the UN’s Sustainable 
Development Goals. We identify key topics for our respective 
countries, derive specific actions and illustrate how we are 
making a positive contribution to achieving them. This 
approach allows Siemens to focus primarily on giving back to 
the societies where we operate.
Our governance and policies for corporate 
citizenship
Responsibility for selecting and managing non-profit and 
socially impactful activities lies with the local departments or 
management teams in each country. This approach helps to 
provide support and create value where it is needed most. 
Simultaneously, we combine in-depth local knowledge with 
long-term commitment to overcome social challenges that 
vary from region to region. 
Along with six other international Siemens foundations and 
Siemens ­Caring Hands e.V., the Siemens Stiftung comple-
ments our corporate citizenship initiatives. 
 WWW.SIEMENS-STIFTUNG.ORG/EN
Siemens believes that it is important to work for the good 
of society beyond our business activities and to invest in 
charitable work. This belief is anchored in our Corporate 
Citizenship Strategy. Our principles serve as a global frame-
work and provide guidance for local sponsorship activities, 
donations, charitable contributions, and memberships. This 
guidance defines how a variety of potential contributions 
can be deployed connecting each one to our overarching 
principles.
Our own Corporate Volunteering Standard describes a com-
mon global corporate citizenship concept and framework 
which is supported by an internal volunteering platform 
being launched in fiscal 2023.
Targets
As an important element of our sustainability strategy, cor-
porate citizenship is embedded in the DEGREE sustainability 
framework.1 By strengthening our identification of different 
target groups for our corporate citizenship activities and 
offering a range of training measures covering all phases of 
life, we contribute to two of the framework’s fields of action: 
Equity and Employability. 
In every society where we operate, our ambition is to improve 
general living and healthcare conditions, enhance educa-
tional and training opportunities for the labor market, and 
strengthen social cohesion and cultural identification. At the 
same time, we aim to strengthen Siemens’ reputation and 
local footprint, increase understanding of our technologies, 
and position our company as an attractive employer, while 
also laying the foundation for future innovation.
SIEMENS SUSTAINABILITY REPORT 2023 
102
5.5 Corporate citizenship

Actions and results
Scale sustainability impact with a shared value 
approach 
Grounded in our core business and competencies, we have 
defined three strategic focus areas for our corporate citizen-
ship activities: access to technology, access to education, 
and sustaining communities. 
In addition to participating in traditional philanthropy, we 
leverage our technological expertise, capabilities, and prod-
ucts to contribute to society. 
Access to technology on the basis of our core 
competencies
We want to share our knowledge about automation, digita-
lization, and intelligent infrastructure with the intention of 
making it accessible to people around the world. 
This knowledge is especially important in developing coun-
tries, where it can help meet the fundamental needs of local 
societies, including energy supply, clean water, and basic 
medical care. The objective is to help these societies improve 
their overall quality of life and develop new perspectives for 
solving problems in the future. 
In addition, by equipping research laboratories with control 
and automation equipment in countries like Hungary, Turkey, 
and Latvia, Siemens is helping improve educational and 
employment opportunities. 
In fiscal 2023, we worked with TANSAM, the Tamilnadu 
Smart and Advanced Manufacturing Centre, to build and 
equip an incubation center in India to spur industrial inno­
vation at the grassroot level. The center employs under­
privileged people and has already trained more than 16,000 
students on Industry 4.0 skills. 
Donating refurbished laptops to people in need is another 
element in our aspiration to help transform communities for a 
better tomorrow. People in need can connect and interact with 
others and at the same time get access to quality education.
Access to education is crucial for societies 
around the world
Our commitment to education encompasses diverse activi-
ties and includes STEM-oriented training and promoting 
excellence through competition to providing free software 
licenses and setting up new institutional education paths, 
including dual education and apprenticeship systems. 
With the aid of our core competencies in 
digitalization, automation, and electrifica-
tion, as well as scientific research, we strive 
to give as many people as possible the 
chance to use the latest technologies.
Knowledge is a resource on which our ­future 
depends. Therefore, improving ­educational 
prospects and allowing broad access to 
­education are critically important challenges 
for all societies everywhere in the world. 
Our goals are to establish stable living condi-
tions, protect values, unleash creativity, 
improve intercultural understanding, and 
contribute to progress.
Our Core Areas
Access to 
technology
Access to 
education
Sustaining 
communities
SIEMENS SUSTAINABILITY REPORT 2023 
103
5.5 Corporate citizenship

The promotion of education can take different forms and 
pursue different objectives: However, the primary objective 
remains consistent. We aim to provide enhanced equal 
access to future opportunities, and to give young people the 
tools to master future challenges.
Coding skills are increasingly relevant to helping people and 
organizations overcome the challenges of digitalization. As 
such, Siemens supports a diverse range of programming-­
oriented learning programs and projects designed for 
children. These include UBBU in Portugal, Hacker School in 
Germany, and Project Jigyaasa in India. Many of these pro-
grams are supported by volunteers from Siemens staff.
In addition to the programs mentioned above, in fiscal 2023 
we supported the Innovation4Sustainability bootcamp, a 
local initiative for more than 30 students from public STEM 
schools across Egypt. The bootcamp was designed and 
developed with the intention of solving industrial waste 
management challenges in the electronics sector by empow-
ering a group of diverse students through a series of 
hands-on trainings, workshops, and ideation using an agile 
methodology throughout the bootcamp.
In Argentina, we worked with the Siemens Foundation Argen-
tina to design a 30-hour internationally certified training pro-
gram based on Siemens’ 3D design software. The program 
provides an up-to-date technical education that meets the 
needs and requirements of the socio-productive sector and 
aims to enhance employability by helping bridge the digital 
divide for more than 2,500 students and 250 teachers.
Sustaining communities is key for social 
cohesion
Siemens believes that identification with one’s local cultural 
heritage is important for social cohesion. With this objective 
in mind, we support cultural and social activities. The 
Siemens Arts Program contributes to this objective with a 
diverse range of projects: for example, support for the first 
Namibian opera designed to promote intercultural under-
standing. In addition, we help local communities create safe 
and stable environments. For instance, in fiscal 2023, we 
provided accommodations at our company premises in 
Warsaw to Ukrainian refugees.
We are continuously striving to improve our impact on social 
cohesion. A major challenge in recent years included unfore-
seen events like the global pandemic and the war in Ukraine. 
To help those affected, we launched a charity program in 
Germany and will continue to roll it out in other countries to 
better coordinate our measures and offer our people options 
for help.
Siemens Stiftung: Working for sustainable social 
development 
Siemens Stiftung is an internationally operating foundation 
established by Siemens in 2008 as an independent nonprofit 
organization. The foundation focuses on three key themes: 
Access to Essential Services, Connected Societies and Climate 
and Sustainability, and adopts a proactive approach to 
­shaping the transformation required by these challenges. By 
working with partners in the fields of education, social 
entrepreneurship, and culture, the foundation reinforces 
collective learning and locally based sustainable structures. 
The foundation works with the income from its €390 million 
endowment as well as additional partner funding in Africa, 
Europe, and Latin America.
Siemens and its employees supported Siemens Stiftung’s 
projects with a number of donation campaigns during the 
fiscal year. One example is the COVID-19 Aid Fund, which 
supported the “STEM Education for Innovation” initiative 
launched by Siemens Stiftung to advance innovative educa-
tion formats in Latin American countries. To date it has spent 
€0.75 million on projects that included producing 467 digital 
and analog instructional media for the entire educational 
chain and providing more training for more than 245,000 
STEM teachers and other interested participants in more 
than 300 trainings, workshops, and webinars. The fund also 
supported the creation of a multi-stakeholder network that 
promotes STEMplus education in 14 mainly Latin American 
countries as well as the education portal “CREA” (Centro de 
Recursos Educativos Abiertos), which offers more than 1,700 
open educational resources for STEM lessons. 
SIEMENS SUSTAINABILITY REPORT 2023 
104
5.5 Corporate citizenship

In the fifth edition of the Cents4Sense program, employee 
shareholders around the world were able to donate up to 
five dividends from their Siemens shares, with the company 
matching every donation. Since the program began in 2018, 
it has raised almost €1,280,000 for selected Siemens 
Stiftung social projects in Africa, Europe, Latin America, and 
Germany.
Corporate commitment to strive for the creation 
of lasting value for society 
In fiscal 2023, we delivered a total community investment of 
€43.2 million, and our people spent more than 36,000 h in 
volunteer projects as part of their working time. 
€43.2 million
total community investment
To evaluate our activities, we measure the achievement of 
the goals on the basis of the individual underlying targets 
and against a framework based on the I-O-O-I (input, output, 
outcome, impact) assessment method. A database and 
approval tool support the operating units in their efforts and 
helps to create transparency on a global level. This approach 
is accompanied by participation in numerous local and 
national working groups and commissions with the aim of 
improving the positive impact on society.
SIEMENS SUSTAINABILITY REPORT 2023 
105
5.5 Corporate citizenship

Pages 106 – 123  
Our sustainability  
indicators 
SIEMENS SUSTAINABILITY REPORT 2023 
106

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
SIEMENS AT A GLANCE
Total revenue
Total
Fiscal Year
Billion €
77.8
72.0
8.0%
GRI 201-1, WEF
Net income
Total
Fiscal Year
Billion €
8.5
4.4
94.2%
GRI 201-1, WEF
Adjusted EBITA Margin for the 
Industrial Business
Total
Fiscal Year
%
15.4%
15.1%
2.0%
GRI 201-1, WEF
Research and development
R&D expenses
Total
Fiscal Year
Billion €
6.2
5.6
10.6%
WEF
R&D intensity
Total
Fiscal Year
% of revenue
8.0%
7.8%
2.3%
WEF
Additions to capitalized 
­development expenses
Total
Fiscal Year
Billion €
0.3
0.3
1.7%
WEF
Patents granted
Total
Sept. 30th
No. (rounded)
45,000
43,600
3.2%
WEF
Share of patent families with
SDG-relevance
Total
Sept. 30th
% of total patent 
families
46.8%
44.8%
4.5%
WEF
GOVERNANCE
Compliance (continuing and discontinued operations)
Compliance cases reported
Total
Fiscal Year
No.
416
363
14.6%
GRI 205-3, 
GRI 2-27, WEF
Allegations of bribery1
Fiscal Year
No.
21
12
75.0%
GRI 205-3, 
GRI 2-27, WEF
Allegations of bribery 
related to actual year
Fiscal Year
No.
12
7
71.4%
GRI 205-3, 
GRI 2-27, WEF
Allegations of bribery 
related to previous 
years
Fiscal Year
No.
11
5
120.0%
GRI 205-3, 
GRI 2-27, WEF
Disciplinary sanctions
Total
Fiscal Year
No.
166
212
−21.7%
GRI 205-3, WEF
Warnings
Fiscal Year
No.
87
90
−3.3%
GRI 205-3, WEF
Dismissals
Fiscal Year
No.
43
74
−41.9%
GRI 205-3, WEF
Others2
Fiscal Year
No.
36
48
−25.0%
GRI 205-3, WEF
BCG training – graduating quota 
current year
Total
Fiscal Year
% of invited 
employees
67.9%
96.3%
–29.5%
GRI 205-2, WEF
BCG training – persons graduating 
current year
Total
Fiscal Year
No. (rounded)
129,300
102,000
26.8%
GRI 205-2, WEF
EMEA
Fiscal Year
No. (rounded)
75,900
50,000
51.8%
GRI 205-2, WEF
Americas
Fiscal Year
No. (rounded)
22,900
19,000
20.5%
GRI 205-2, WEF
Asia, Australia
Fiscal Year
No. (rounded)
30,500
20,000
52.5%
GRI 205-2, WEF
Other specific compliance 
trainings – persons graduating 
­current year
Total
Fiscal Year
No. (rounded)
461,000
409,000
12.7%
GRI 205-2, WEF
Integrity Initiative – Projects 
Total
up to  
Sept. 30th
No.
85
85
0.0%
WEF
Integrity Initiative – Finance budget 
provided
Total
up to  
Sept. 30th
Million US$ 
(rounded)
120
120
0.0%
WEF
1	
Does also include allegations of granting benefits (but not taking bribes); time of the alleged misconduct may be in more than one period or may be unspecified.  
Therefore it can be included in both categories.
2	
Includes loss of variable and voluntary compensation elements, transfer and suspension.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Sustainable supply chain management
Purchasing Volume (PVO)
Total
Fiscal Year
Billion €
36.9
34.6
6.7%
GRI 2-6
Number of relevant (> €10,000 
annual volume) suppliers
Total
Fiscal Year
No. (rounded)
67,700
66,000
2.6%
GRI 2-6
Corporate responsibility  
self-assessments (CSRA)3
Total
Fiscal Year
No.
5,096
4,912
3.7%
GRI 308-2, 408-1, 
409-1, 414-2
EMEA
Fiscal Year
No.
1,122
1,147
−2.2%
GRI 308-2, 408-1, 
409-1, 414-2
Americas
Fiscal Year
No.
767
654
17.3%
GRI 308-2, 408-1, 
409-1, 414-2
Asia, Australia
Fiscal Year
No.
3,207
3,111
3.1%
GRI 308-2, 408-1, 
409-1, 414-2
Agreed improvement measures  
out of CSRAs
Total
Fiscal Year
No.
5,493
3,109
76.7%
GRI 308-2, 414-2
External sustainability audits
Total
Fiscal Year
No.
481
426
12.9%
GRI 308-2, 408-1, 
409-1, 414-2, 
WEF
EMEA
Fiscal Year
No.
97
113
−14.2%
GRI 308-2, 408-1, 
409-1, 414-2, 
WEF
Americas
Fiscal Year
No.
51
50
2.0%
GRI 308-2, 408-1, 
409-1, 414-2, 
WEF
Asia, Australia
Fiscal Year
No.
333
263
26.6%
GRI 308-2, 408-1, 
409-1, 414-2, 
WEF
Agreed improvement measures  
out of external sustainability audits
Total
Fiscal Year
No.
9,521
7,275
30.9%
GRI 308-2, 
414-2, WEF
ENVIRONMENT
Holistic environmental protection
Sites with environmental  
management system ISO 14001 
certification
Total
Sept. 30th
No.
182
184
−1.1%
Share of sites with environmental 
management system ISO 14001 
­certification
Total
Sept. 30th
% of reported sites
73%
72%
0.5%
3	
To be conducted mainly by suppliers from non-OECD countries with a purchasing volume > € 50,000 p.a.. Questionnaires initiated and completed in the year under review.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Climate action
Greenhouse gas emissions
Scope 1
Total
Fiscal Year
1,000 metric tons 
of CO2e emissions
387
393
−1.6%
GRI 305-1, WEF
CO2 emissions
Fiscal Year
1,000 metric tons 
of CO2e emissions
342
357
−4.4%
GRI 305-1, WEF
CO2 emissions 
from gas
Fiscal Year
1,000 metric tons 
of CO2e emissions
109
138
−20.8%
GRI 305-1, WEF
CO2 emissions 
from LPG
Fiscal Year
1,000 metric tons 
of CO2e emissions
5
1
332.2%
GRI 305-1, WEF
CO2 emissions 
from heating oil
Fiscal Year
1,000 metric tons 
of CO2e emissions
15
2
643.9%
GRI 305-1, WEF
CO2 emissions 
from fleet fuel
Fiscal Year
1,000 metric tons 
of CO2e emissions
210
213
−1.7%
GRI 305-1, WEF
CO2 emissions 
from site fuel
Fiscal Year
1,000 metric tons 
of CO2e emissions
3
3
5.8%
GRI 305-1, WEF
CO2 emissions 
from coal
Fiscal Year
1,000 metric tons 
of CO2e emissions
0
0
GRI 305-1, WEF
CO2 emissions 
from technical CO2
Fiscal Year
1,000 metric tons 
of CO2e emissions
0.2
0.1
37.1%
GRI 305-1, WEF
SF6 emissions
Fiscal Year
1,000 metric tons 
of CO2e emissions
30
23
31.7%
GRI 305-1, WEF
CH4 emissions
Fiscal Year
1,000 metric tons 
of CO2e emissions
< 0,1
< 0,1
GRI 305-1, WEF
N2O emissions
Fiscal Year
1,000 metric tons 
of CO2e emissions
0.0
0.2
−91.8%
GRI 305-1, WEF
HFC emissions
Fiscal Year
1,000 metric tons 
of CO2e emissions
15.4
12.1
26.8%
GRI 305-1, WEF
PFC emissions
Fiscal Year
1,000 metric tons 
of CO2e emissions
0
0
GRI 305-1, WEF
NF3 emissions
Fiscal Year
1,000 metric tons 
of CO2e emissions
< 0,1
< 0,1
GRI 305-1, WEF
Acetylene emissions
Fiscal Year
1,000 metric tons 
of CO2e emissions
0.1
1
−85.9%
GRI 305-1, WEF
Scope 2
Total (market based)
Fiscal Year
1,000 metric tons 
of CO2e emissions
163
189
−13.5%
GRI 305-2, WEF
Market based from 
electricity
Fiscal Year
1,000 metric tons 
of CO2e emissions
142
164
−13.9%
GRI 305-2, WEF
Market based from 
heating
Fiscal Year
1,000 metric tons 
of CO2e emissions
22
24
−11.1%
GRI 305-2, WEF
Total (location based)
Fiscal Year
1,000 metric tons 
of CO2e emissions
624
670
−6.8%
GRI 305-2, WEF
Location based from 
electricity
Fiscal Year
1,000 metric tons 
of CO2e emissions
597
633
−5.7%
GRI 305-2, WEF
Location based from 
heating
Fiscal Year
1,000 metric tons 
of CO2e emissions
28
37
−25.3%
GRI 305-2, WEF
Scope 1+2
Total
Fiscal Year
1,000 metric tons 
of CO2e emissions
550
582
−5.5%
GRI 305-1, 305-2, 
WEF
Scope 1+2 intensity
Total
Fiscal Year
metric tons of CO2e 
emissions per 
Mio. € revenue
7.1
8.1
−12.5%
GRI 305-4, WEF
Scope 1+2 reduction to last year
Total
Fiscal Year
1,000 metric tons 
of CO2e emissions
32
13
144.3%
GRI 305-5, WEF
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Reduced emissions through energy 
from renewable sources
Total (Scope 1 + 2)
Fiscal Year
1,000 metric tons 
of CO2e emissions
467
482
−3.2%
GRI 305-5, WEF
Gas from renewable 
sources (Scope 1)
Fiscal Year
1,000 metric tons 
of CO2e emissions
13
184
−26.0%
GRI 305-5, WEF
Electricity from 
renewable sources 
(Scope 2)
Fiscal Year
1,000 metric tons 
of CO2e emissions
454
465
−2.4%
GRI 305-5, WEF
Scope 3
Total
Fiscal Year
1,000 metric tons 
of CO2e emissions
483,188
457,606
5.6%
GRI 305-3, WEF
Scope 3 upstream
Total
Fiscal Year
1,000 metric tons 
of CO2e emissions
11,048
11,515
−4.1%
GRI 305-3, WEF
Purchased goods and 
services
Fiscal Year
1,000 metric tons 
of CO2e emissions
9,276
9,557
−2.9%
GRI 305-3, WEF
Capital goods
Fiscal Year
1,000 metric tons 
of CO2e emissions
416
458
−9.2%
GRI 305-3, WEF
Fuel- and energy-­
related activities
Fiscal Year
1,000 metric tons 
of CO2e emissions
111
137
−19.0%
GRI 305-3, WEF
Waste in operations
Fiscal Year
1,000 metric tons 
of CO2e emissions
29
25
16.0%
GRI 305-3, WEF
Transportation
Fiscal Year
1,000 metric tons 
of CO2e emissions
884
1,118
−20.9%
GRI 305-3, WEF
Business travel
Fiscal Year
1,000 metric tons 
of CO2e emissions
227
122
85.4%
GRI 305-3, WEF
Employee commuting
Fiscal Year
1,000 metric tons 
of CO2e emissions
105
98
7.1%
GRI 305-3, WEF
Scope 3 downstream
Total
Fiscal Year
1,000 metric tons 
of CO2e emissions
472,140
446,090
5.8%
GRI 305-3, WEF
Use of sold products
Fiscal Year
1,000 metric tons 
of CO2e emissions
469,180
442,175
6.1%
GRI 305-3, WEF
Investment SFS5
Fiscal Year
1,000 metric tons 
of CO2e emissions
2,960
3,915
−24.4%
GRI 305-3, WEF
Scope 3 downstream intensity
Total
Fiscal Year
metric tons of CO2e 
emissions per 
Mio. € revenue
6,071
6,198
−2.0%
GRI 305-4, WEF
GHG emissions Scope 1+2+3 
upstream (“Cradle to gate”)
Total
Fiscal Year
1,000 metric tons 
of CO2e emissions
11,598
12,097
−4.1%
GRI 305-3, WEF
Biogenic CO2e emissions
Total
Fiscal Year
1,000 metric tons 
of CO2e emissions
15
19
−22.2%
Greenhouse gas emissions – Fleet and real estate management
Siemens fleet  
(owned or leased vehicles)
Total number
Sept. 30th
No. (rounded)
44,000
42,000
4.8%
Electrical vehicles
Sept. 30th
No. (rounded)
4,100
1,350
203.7%
Hybrid vehicles
Sept. 30th
No. (rounded)
2,500
3,150
−20.6%
Electrical and 
hybrid vehicles
Sept. 30th
No. (rounded)
6,600
4,500
46.7%
Rate of electrical and 
hybrid vehicles
Sept. 30th
% of total fleet
15%
11%
40.0%
Rate of electrical 
­vehicles
Sept. 30th
% of total fleet
9%
3%
189.9%
Fleet emissions (part 
of Scope 1 emissions)
Fiscal Year
1,000 metric tons 
of CO2e emissions
210
213
−1.7%
GRI 305-1, WEF
Fuel consumption
fleet
Fiscal Year
1,000 gigajoule
2,894
2,920
−0.9%
4	
Change in last year data caused by subsequent adjustment.
5	
Emissions out of Siemens Financial Services (SFS) activities in financing fossile energy production projects.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Siemens sites with Net Zero CO2e 
emissions
Total
Sept. 30th
No.
37
41
−9.8%
Charging poles on company ground 
for electrical vehicles
Total
Sept. 30th
No. (rounded)
2,750
2,200
25.0%
Use phase impact at customers
Avoided emissions: Greenhouse gas 
reductions achieved by our customers 
through products of the Siemens 
Portfolio6
Total
Fiscal Year
Mt CO2e
189.9
153.2
24.0%
EU Taxonomy
Share eligible revenue
Total
Fiscal Year
% of revenue
20.3%
20.1%
0.5%
Share aligned revenue
Total
Fiscal Year
% of revenue
16.5%
n.a.
Share eligible operational  
expenditures
Total
Fiscal Year
% of relevant OpEx
12.4%
13.5%
−8.2%
Share aligned operational  
expenditures
Total
Fiscal Year
% of relevant OpEx
8.2%
n.a.
Share eligible capital expenditures
Total
Fiscal Year
% of relevant CapEx
34.5%
39.7%
−13.3%
Share aligned capital expenditures
Total
Fiscal Year
% of relevant CapEx
12.2%
n.a.
Conservation of Resources
Energy Consumption:  
primary & secondary energy
Total
Fiscal Year
1,000 gigajoule
9,115
9,802
−7.0%
GRI 302-1, SASB 
RT-EE-130a.1
Share of renewable 
energy sources
Fiscal Year
% of total energy 
consumption
51.1%
47.6%4
7.5%
GRI 302-1, SASB 
RT-EE-130a.1
Share of grid 
­electricity
Fiscal Year
% of total energy 
consumption
61.3%
57.4%
6.7%
GRI 302-1, SASB 
RT-EE-130a.1
Primary & secondary energy intensity
Total
Fiscal Year
1,000 gigajoule per 
Mio. € revenue
0.117
0.136
−13.9%
GRI 302-1, SASB 
RT-EE-130a.1
Energy Consumption:  
primary energy
Total
Fiscal Year
1,000 gigajoule
2,513
3,010
−16.5%
GRI 302-1, SASB 
RT-EE-130a.1
Natural gas & liquid 
gas
Fiscal Year
1,000 gigajoule
2,277
2,927
−22.2%
GRI 302-1, SASB 
RT-EE-130a.1
Gas from renewable 
sources
Fiscal Year
1,000 gigajoule
233
3154
−26.0%
GRI 302-1, SASB 
RT-EE-130a.1
Gas share from 
renewable sources
Fiscal Year
% of total gas used
10%
11%
−4.9%
GRI 302-1, SASB 
RT-EE-130a.1
Fuel oil, gasoline, 
­diesel
Fiscal Year
1,000 gigajoule
232
63
269.5%
GRI 302-1, SASB 
RT-EE-130a.1
Energy consumption:  
secondary energy
Total
Fiscal Year
1,000 gigajoule
6,602
6,792
−2.8%
GRI 302-1, SASB 
RT-EE-130a.1
Electricity  
(total)
Fiscal Year
1,000 gigajoule
5,586
5,629
−0.8%
GRI 302-1, SASB 
RT-EE-130a.1
Electricity  
(renewable sources)
Fiscal Year
1,000 gigajoule
4,426
4,347
1.8%
GRI 302-1, SASB 
RT-EE-130a.1
Electricity Share of 
renewable energy 
sources
Fiscal Year
% of total 
electricity used
79%
77%
2.6%
GRI 302-1, SASB 
RT-EE-130a.1
District heating
Fiscal Year
1,000 gigajoule
1,016
1,163
−12.6%
GRI 302-1, SASB 
RT-EE-130a.1
4	
Change in last year data caused by subsequent adjustment. 
6	
Calculated over the entire use phase, analogue Scope 3.11 “Use Phase Emissions”.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Efficiency in energy
Total (w/o SHS)
Fiscal Year
% revenue 
weighted to base 
year (2021)
39%
13%
196.4%
Energy reduction
Total (w/o SHS)
Fiscal Year
% to base year 
(2021)
9.1%
3.4%
163.9%
Waste
Waste
Total
Fiscal Year
1,000 tons
261.2
256.24
2.0%
GRI 306-3
Non-hazardous waste
Fiscal Year
1,000 tons
214.7
224.4
–4.3%
GRI 306-3
Hazardous waste
Fiscal Year
1,000 tons
12.7
13.74
−7.8%
GRI 306-3, SASB 
RT-EE-150a.1
Construction waste
Fiscal Year
1,000 tons
33.9
18.0
88.0%
GRI 306-3
Non-hazardous waste
Total
Fiscal Year
1,000 tons
214.7
224.4
−4.3%
GRI 306-3
Recycling and Recovery Fiscal Year
1,000 tons
203.8
213.5
−4.5%
GRI 306-3
Recycling (material)
Fiscal Year
1,000 tons
179.6
186.2
−3.6%
GRI 306-3
Recovery (thermal)
Fiscal Year
1,000 tons
24.2
27.2
−11.2%
GRI 306-3
Landfill and other 
­disposal
Fiscal Year
1,000 tons
10.9
11.0
–0.9%
GRI 306-3
Landfill
Fiscal Year
1,000 tons
9.0
8.9
1.9%
GRI 306-3
Other disposal  
(thermal/chemical/
physical)
Fiscal Year
1,000 tons
1.8
2.1
−12.7%
GRI 306-3
Hazardous waste
Total
Fiscal Year
1,000 tons
12.7
13.74
−7.8%
GRI 306-3, SASB 
RT-EE-150a.1
Recycling and Recovery Fiscal Year
1,000 tons
7.2
8.74
−17.2%
GRI 306-3, SASB 
RT-EE-150a.1
Recycling (material)
Fiscal Year
1,000 tons
5.6
7.34
−22.4%
GRI 306-3, SASB 
RT-EE-150a.1
Recovery (thermal)
Fiscal Year
1,000 tons
1.6
1.5
7.9%
GRI 306-3, SASB 
RT-EE-150a.1
Landfill and other  
disposal
Fiscal Year
1,000 tons
5.4
5.0
8.8%
GRI 306-3, SASB 
RT-EE-150a.1
Landfill
Fiscal Year
1,000 tons
0.9
0.7
28.1%
GRI 306-3, SASB 
RT-EE-150a.1
Other disposal  
(thermal/chemical/
physical)
Fiscal Year
1,000 tons
4.5
4.3
5.7%
GRI 306-3, SASB 
RT-EE-150a.1
Construction waste
Total
Fiscal Year
1,000 tons
33.9
18.0
88.0%
GRI 306-3
Recycling and Recovery Fiscal Year
1,000 tons
27.0
17.4
55.2%
GRI 306-3
Landfill and other  
disposal
Fiscal Year
1,000 tons
6.9
0.6
1052.9%
GRI 306-3
Total waste  
(w/o construction waste)
Total
Fiscal Year
1,000 tons
227.3
238.14
−4.5%
GRI 306-3
Recycling and Recovery Fiscal Year
1,000 tons
211.0
222.24
−5.0%
GRI 306-4
Recycling (material)
Fiscal Year
1,000 tons
185.2
193.54
−4.3%
GRI 306-3
Recovery (thermal)
Fiscal Year
1,000 tons
25.8
28.7
−10.2%
GRI 306-3
Landfill and other  
disposal
Fiscal Year
1,000 tons
16.3
15.9
2.1%
GRI 306-3
Landfill
Fiscal Year
1,000 tons
9.9
9.6
3.8%
GRI 306-3
Other disposal  
(thermal/chemical/
physical)
Fiscal Year
1,000 tons
6.4
6.4
−0.3%
GRI 306-3
4	
Change in last year data caused by subsequent adjustment. 
SIEMENS SUSTAINABILITY REPORT 2023 
112
6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Recycling & Recovery rate
Total  
(w/o construction)
Fiscal Year
% of total waste 
(w/o construction)
93%
93%
−0.5%
GRI 306-4
Hazardous waste
Fiscal Year
% of total  
hazardous waste
57%
64%4
−10.3%
GRI 306-4
Non-hazardous waste
Fiscal Year
% of total non-­
hazardous waste
95%
95%
−0.2%
GRI 306-4
Construction waste
Fiscal Year
% of construction 
waste
80%
97%
−17.5%
GRI 306-4
Material Recycling rate
Total  
(w/o construction)
Fiscal Year
% of total waste 
(w/o construction)
81%
81%
0.3%
GRI 306-4
Upstream waste7
Upstream waste
Total
Fiscal Year
1,000 tons
1,433
1,4128
1.5%
GRI 306-1
Non-hazardous waste
Fiscal Year
1,000 tons
1,369
1,3498
1.5%
GRI 306-1
Hazardous waste
Fiscal Year
1,000 tons
63
638
1.0%
GRI 306-1
Water
Water withdrawal
Total
Fiscal Year
Million cubic meter
14.26
12.93
10.3%
GRI 303-3, WEF
Surface water
Fiscal Year
Million cubic meter
1.10
1.03
7.0%
GRI 303-3, WEF
Groundwater
Fiscal Year
Million cubic meter
9.26
7.94
16.6%
GRI 303-3, WEF
3rd party water
Fiscal Year
Million cubic meter
3.85
3.91
−1.5%
GRI 303-3, WEF
Other sources
Fiscal Year
Million cubic meter
0.05
0.04
9.9%
GRI 303-3, WEF
Water withdrawal intensity
Total
Fiscal Year
Cubic meter per 
Mio. € revenue
183.39
179.71
2.0%
GRI 303-3, WEF
Water withdrawal in  
water-stressed areas
Total
Fiscal Year
Million cubic meter
1.36
1.344
1.0%
GRI 303-3, WEF
Share of withdrawal
Fiscal Year
% of total withdrawal 10%
10%4
−8.4%
GRI 303-3, WEF
Water consumption
Total
Fiscal Year
Million cubic meter
0.51
0.45
13.3%
GRI 303-5
Water consumption intensity
Total
Fiscal Year
Cubic meter per 
Mio. € revenue
6.52
6.22
4.8%
GRI 303-5
Water consumption in  
water-stressed areas
Total
Fiscal Year
Million cubic meter
0.07
0.07
1.5%
GRI 303-5
Consumption share
Fiscal Year
% of total 
­consumption
15%
16.2%
−10.4%
GRI 303-5
Water discharge 
Total
Fiscal Year
Million cubic meter
13.56
12.36
9.7%
GRI 303-4
Surface water
Fiscal Year
Million cubic meter
1.03
1.07
−3.4%
GRI 303-4
Groundwater
Fiscal Year
Million cubic meter
9.20
7.73
19.0%
GRI 303-4
3rd party water
Fiscal Year
Million cubic meter
3.33
3.56
−6.5%
GRI 303-4
Discharge usage
Total
Fiscal Year
Million cubic meter
13.56
12.36
9.7%
GRI 303-4
Sanitary wastewater
Fiscal Year
Million cubic meter
2.80
2.90
−3.6%
GRI303-4
Manufacturing  
processes
Fiscal Year
Million cubic meter
0.61
0.55
11.7%
GRI303-4
Other  
(including losses)
Fiscal Year
Million cubic meter
0.24
0.33
−26.3%
GRI303-4
Cooling water dis-
charged as wastewater Fiscal Year
Million cubic meter
0.14
0.13
5.2%
GRI303-4
Chemically unchanged 
cooling water (returned 
to receiving water body 
chemically unchanged, 
but warmed)
Fiscal Year
Million cubic meter
9.80
8.49
15.5%
GRI303-4
4	
Change in last year data caused by subsequent adjustment. 
7	
Analysis of our supply chain based on purchase data by using of a macroeconomic input-output-model also adjusted for inflation.
8	
Change in last year data caused by new calculation method.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Rate of sites with implemented 
water strategy
Total
Sept. 30th
% of sites
96%
93%
3.8%
GRI 303-1, WEF
Atmospheric pollutant emissions
Volatile Organic Compounds
Total
Fiscal Year
metric tons
249.7
274.4
−9.0%
GRI 305-7
Ozone-depleting substances
Total
Fiscal Year
metric tons 
(R11 equivalent)9
0.044
0.036
22.3%
GRI 305-6
Nitrogen oxides
Total
Fiscal Year
metric tons
53.5
57.6
−7.1%
GRI 305-7
Sulphur oxides
Total
Fiscal Year
metric tons
1.18
0.94
25.5%
GRI 305-7
Respirable dust
Total
Fiscal Year
metric tons
0.23
0.08
186.7%
GRI 305-7
Additional environmental topics
Environment-related incidents with 
significant fines
Total
Fiscal Year
No.
0
n.a.10
GRI 307-1, SASB 
RT-EE-150a2
Amount of significant fines
Total
Fiscal Year
€
0
n.a.10
GRI 307-1, SASB 
RT-EE-150a2
Reportable spills
Total
Fiscal Year
No.
14
7
100.0%
GRI 307-1, SASB 
RT-EE-150a2
Quantity reportable 
spills
Fiscal Year
kg
3,319
2,562
29.5%
GRI 307-1, SASB 
RT-EE-150a2
Quantity recovered 
spills
Fiscal Year
kg
2,079
342
507.7%
GRI 307-1, SASB 
RT-EE-150a2
Sites with energy management 
­system ISO 50001 certification
Total
Sept. 30th
No.
45
38
18.4%
Sites in or adjacent to protected 
areas
Total
Sept. 30th
No.
25
20
25.0%
WEF
Area of sites in or adjacent to 
­protected areas
Total
Sept. 30th
Hectare
29011
184
57.2%
WEF
Product Stewardship
Lifecycle assessment (LCA)12
Total
Sept. 30th
No.
334
92
263.0%
Environmental Product Declarations 
(EPD)
Total
Sept. 30th
No.
1,540
1,346
14.4%
Share of lifecycle assessment (LCA) 
revenue13
Total (w/o SHS)
Fiscal Year
% of total revenue14
39%
27%8
45.8%
Share of Environmental Product 
Declarations (EPD) revenue13
Total (w/o SHS)
Fiscal Year
% of total revenue14
36%
22%8
64.1%
Rate of products by revenue that 
contain IEC 62474-declarable 
­substances
Total (w/o SHS)
Fiscal Year
% of total revenue14
50%
49%
2.2%
SASB RT-EE-
410a1
8	
Change in last year data caused by new calculation method. 
9	
R11 equivalent measures ozone depletion potential.
10	 Change in last year data caused by new definition with threshold.
11	 Therein 49 hectare of an office location without production in Erlangen/Germany.
12	 Full-scale.
13	 Based on 3rd party revenue with products.
14	 Siemens without SHS.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
SOCIAL
Working for Siemens15
Siemens employees16
Total
Sept. 30th
No. (rounded)
320,000
311,000
2.9%
GRI 2-7, SASB 
RT-EE_000B
Other internal workforce17
Total
Sept. 30th
No. (rounded)
17,200
16,900
1.8%
GRI 2-7
External/third party workers18
Germany
Sept. 30th
No. (rounded)
4,400
4,400
0.0%
GRI 2-8
Employee structure19
EMEA
Sept. 30th
No. (rounded)
175,000
172,000
1.7%
GRI 2-7
Americas
Sept. 30th
No. (rounded)
66,000
64,000
3.1%
GRI 2-7
Asia, Australia
Sept. 30th
No. (rounded)
78,000
75,000
4.0%
GRI 2-7
Women
Sept. 30th
No. (rounded)
88,000
84,000
4.8%
GRI 2-7, WEF
Men
Sept. 30th
No. (rounded)
231,000
225,000
2.7%
GRI 2-7, WEF
No/other gender entry Sept. 30th
No. (rounded)
140
180
–22.2%
GRI 2-7, WEF
Gender n/a
Sept. 30th
No. (rounded)
900
1,600
–43.8%
GRI 2-7, WEF
Age group < 30
Sept. 30th
No. (rounded)
50,000
48,000
4.2%
GRI 2-7
Age group 30 – 50
Sept. 30th
No. (rounded)
188,000
182,000
3.3%
GRI 2-7
Age group > 50
Sept. 30th
No. (rounded)
81,000
79,000
2.5%
GRI 2-7
Age n/a
Sept. 30th
No. (rounded)
900
1,600
−43.8%
GRI 2-7
Young workers
below 15 years
Sept. 30th
% of total employees 0.0%
0.0%
GRI 405-1, WEF
Young workers
15 – 17 years
Sept. 30th
% of total employees 0.0%
0.0%
GRI 405-1, WEF
Blue-collar workers
Sept. 30th
% of total employees 16.9%
17.3%
–2.3%
WEF
White-collar workers
Sept. 30th
% of total employees 83.1%
82.7%
0.5%
WEF
Disabled employees20
Germany
Sept. 30th
% of employees in 
Germany
5.6%
5.7%
–1.8%
GRI 405-1, WEF
Germany –  
Top management 
positions
Sept. 30th
% of employees in 
Germany in top 
management 
­positions
0.0%
0.0%
GRI 405-1, WEF
Germany –  
Middle & junior 
­management 
­positions
Sept. 30th
% of employees in 
Germany in middle 
& junior manage-
ment positions
1.9%
1.8%
5.6%
GRI 405-1, WEF
Germany –  
Non-­management 
positions
Sept. 30th
% of employees in 
Germany in 
non-management 
positions
5.3%
5.5%
–3.6%
GRI 405-1, WEF
Employee nationalities21
Total
Sept. 30th
No.
170
168
1.2%
GRI 405-1
15	 All employee data in this section are based on headcount.
16	 Employee refers to every natural person in an active employment relationship with a fully consolidated Siemens company. Employees are all internal workforce without apprentices, 
students, interns and other internal workforce.
17	 Other internal workforce/non-employees according to our financial reporting guidelines (e.g. apprentices, students, interns and other internal workforce).
18	 External/third party workers who work in our workforce/contingent workers.
19	 Employee structure data are only for employees, without other internal workforce and without external/third party workers.
20	 Severely Handicapped Employees-rate (SHE) is based on legally defined guidelines and specifications according §§ 154-1+3 SGB IX (German Social Law).
21	 Employees, without other internal workforce and without external workforce.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Top nationalities worldwide21
German
Sept. 30th
% of total employees 25%
26%
–2.1%
GRI 405-1
American
Sept. 30th
% of total employees 14%
14%
0.0%
GRI 405-1
Indian
Sept. 30th
% of total employees 12%
11%
5.5%
GRI 405-1
Chinese
Sept. 30th
% of total employees 10%
10%
0.0%
GRI 405-1
Czech
Sept. 30th
% of total employees 3%
3%
0.0%
GRI 405-1
Other nationalities
Sept. 30th
% of total employees 36%
36%
0.0%
GRI 405-1
Employment characteristics22
Employees with permanent
working contract
Total
Sept. 30th
No. (rounded)
300,100
289,600
3.6%
GRI 2-7b, WEF
EMEA
Sept. 30th
No. (rounded)
170,300
165,300
3.0%
GRI 2-7b, WEF
Americas
Sept. 30th
No. (rounded)
65,400
63,300
3.3%
GRI 2-7b, WEF
Asia, Australia
Sept. 30th
No. (rounded)
64,400
61,000
5.6%
GRI 2-7b, WEF
Women
Sept. 30th
No. (rounded)
81,500
77,900
4.6%
GRI 2-7b, WEF
Men
Sept. 30th
No. (rounded)
218,400
211,500
3.3%
GRI 2-7b, WEF
No/other gender entry Sept. 30th
No. (rounded)
140
170
−17.6%
GRI 2-7b, WEF
Employees with temporary  
working contract 
Total
Sept. 30th
No. (rounded)
18,500
19,500
−5.1%
GRI 2-7b, WEF
EMEA
Sept. 30th
No. (rounded)
4,800
5,200
−7.7%
GRI 2-7b, WEF
Americas
Sept. 30th
No. (rounded)
400
400
0.0%
GRI 2-7b, WEF
Asia, Australia
Sept. 30th
No. (rounded)
13,400
13,900
−3.6%
GRI 2-7b, WEF
Women
Sept. 30th
No. (rounded)
6,100
6,300
−3.2%
GRI 2-7b, WEF
Men
Sept. 30th
No. (rounded)
12,500
13,200
−5.3%
GRI 2-7b, WEF
No/other gender entry Sept. 30th
No.
2
12
−83.3%
GRI 2-7b, WEF
Permanent/temporary  
working contract
Contract type n/a
Sept. 30th
No. (rounded)
900
1,600
−43.8%
GRI 2-7b, WEF
Full-time employees in headcount 
Total
Sept. 30th
No. (rounded)
304,500
295,400
3.1%
GRI 2-7
EMEA
Sept. 30th
No. (rounded)
161,400
157,200
2.7%
GRI 2-7
Americas
Sept. 30th
No. (rounded)
65,500
63,400
3.3%
GRI 2-7
Asia, Australia
Sept. 30th
No. (rounded)
77,600
74,700
3.9%
GRI 2-7
Women
Sept. 30th
No. (rounded)
78,100
74,700
4.6%
GRI 2-7
Men
Sept. 30th
No. (rounded)
226,300
220,400
2.7%
GRI 2-7
No/other gender entry Sept. 30th
No. (rounded)
140
180
−22.2%
GRI 2-7
Part-time employees in headcount 
Total
Sept. 30th
No. (rounded)
14,100
13,800
2.2%
GRI 2-7
EMEA
Sept. 30th
No. (rounded)
13,600
13,300
2.3%
GRI 2-7
Americas
Sept. 30th
No. (rounded)
300
300
0.0%
GRI 2-7
Asia, Australia
Sept. 30th
No. (rounded)
160
150
6.7%
GRI 2-7
Women
Sept. 30th
No. (rounded)
9,500
9,500
0.0%
GRI 2-7
Men
Sept. 30th
No. (rounded)
4,600
4,300
7.0%
GRI 2-7
No/other gender entry Sept. 30th
No.
6
6
0.0%
GRI 2-7
21	 Employees, without other internal workforce and without external workforce.
22	 Employment characteristics only for employees, without other internal workforce and without external/third party workers.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Full-/part-time employees  
in headcount
Full-/part-time n/a
Sept. 30th
No. (rounded)
900
1,600
−43.8%
GRI 2-7
Employees covered by collective 
bargaining agreements
Germany
Sept. 30th
% of total employees 
in Germany
78.6%
78.3%
0.4%
GRI 2-30
Additional employees covered by 
collective agreements23
Germany
Sept. 30th
% of total employees 
in Germany
19.2%
19.5%
–1.5%
GRI 2-30
Senior managers represented by 
“Executive staff committee”
Germany
Sept. 30th
% of total employees 
in Germany
2.2%
2.2%
0.0%
GRI 2-30
Diversity of employees per category and function24
Employees in all management 
­positions25
Total
Sept. 30th
No. (rounded)
32,900
30,900
6.5%
GRI 405-1
Women
Sept. 30th
% of employees in 
all management 
positions
21.6%
20.6%
4.9%
GRI 405-1
Men
Sept. 30th
% of employees in 
all management 
positions
78.4%
79.4%
–1.3%
GRI 405-1
No/other gender entry Sept. 30th
% of employees in 
all management 
positions
0.0%
0.0%
GRI 405-1
Employees in top management 
positions26
Total
Sept. 30th
No. (rounded)
500
500
0.0%
GRI 405-1
Women
Sept. 30th
% of employees in 
top management 
positions
30.8%
27.2%
13.2%
GRI 405-1
Men
Sept. 30th
% of employees in 
top management 
positions
69.2%
72.8%
–4.9%
GRI 405-1
No/other gender entry Sept. 30th
% of employees in 
top management 
positions
0.0%
0.0%
GRI 405-1
Age group < 30
Sept. 30th
% of employees in 
top management 
positions
0.2%
0.2%
0.0%
GRI 405-1
Age group 30 – 50
Sept. 30th
% of employees in 
top management 
positions
42.7%
46.0%
–7.2%
GRI 405-1
Age group > 50
Sept. 30th
% of employees in 
top management 
positions
57.1%
53.7%
6.3%
GRI 405-1
23	 Employees not covered by collective bargaining agreements, but the organization determines their working conditions and terms of employment based on collective bargaining 
agreements that cover its other employees or similar agreements.
24	 Diversity data only for employees, without other internal workforce and without external/third party workers.
25	 Employees in all management positions with disciplinary responsibility, but without Managing Board Members.
26	 Employees in top management positions with disciplinary responsibility, but without Managing Board Members.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Employees in middle & junior 
­management positions27
Total
Sept. 30th
No. (rounded)
32,400
30,400
6.6%
GRI 405-1
Women
Sept. 30th
% of employees in 
middle & junior 
management 
­positions
21.4%
20.5%
4.4%
GRI 405-1
Men
Sept. 30th
% of employees in 
middle & junior 
management 
­positions
78.6%
79.5%
–1.1%
GRI 405-1
No/other gender entry Sept. 30th
% of employees in 
middle & junior 
management 
­positions
0.0%
0.0%
GRI 405-1
Age group < 30
Sept. 30th
% of employees in 
middle & junior 
management 
­positions
1.1%
1.0%
10.0%
GRI 405-1
Age group 30 – 50
Sept. 30th
% of employees in 
middle & junior 
management 
­positions
64.7%
64.5%
0.3%
GRI 405-1
Age group > 50
Sept. 30th
% of employees in 
middle & junior 
management 
­positions
34.2%
34.5%
–0.9%
GRI 405-1
Employees in non-management 
positions
Total
Sept. 30th
No. (rounded)
285,700
278,200
2.7%
GRI 405-1
Women
Sept. 30th
% of employees in 
non-management 
positions
28.2%
28.0%
0.7%
GRI 405-1
Men
Sept. 30th
% of employees in 
non-management 
positions
71.8%
72.0%
–0.3%
GRI 405-1
No/other gender entry Sept. 30th
% of employees in 
non-management 
positions
0.0%
0.1%
–100.0%
GRI 405-1
Age group < 30
Sept. 30th
% of employees in 
non-management 
positions
17.2%
17.1%
0.6%
GRI 405-1
Age group 30 – 50
Sept. 30th
% of employees in 
non-management 
positions
58.5%
58.4%
0.2%
GRI 405-1
Age group > 50
Sept. 30th
% of employees in 
non-management 
positions
24.3%
24.5%
–0.8%
GRI 405-1
Women in functions
Production
Sept. 30th
% of total employees 
in function
25.2%
25.0%
0.8%
GRI 405-1
Sales and marketing
Sept. 30th
% of total employees 
in function
29.3%
28.7%
2.1%
GRI 405-1
Research and 
­development
Sept. 30th
% of total employees 
in function
22.7%
22.5%
0.9%
GRI 405-1
General administration Sept. 30th
% of total employees 
in function
48.4%
48.2%
0.4%
GRI 405-1
27	 Employees in middle & junior management positions with disciplinary responsibility, but without Managing Board Members.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Women in STEM-related positions
Total
Sept. 30th
% of total employees 
in STEM
19.3%
19.3%
0.0%
GRI 405-1
In management 
­positions28
Sept. 30th
% of total employees 
in STEM and 
­management
14.3%
13.3%
7.5%
GRI 405-1
Women in revenue-generating 
functions
In management 
­positions28
Sept. 30th
% of total employees 
in revenue-generat-
ing functions and in 
management
15.6%
14.6%
6.8%
GRI 405-1
Hirings
Hirings
Total
Fiscal Year
No. (rounded)
40,700
47,300
−14.0%
GRI 401-1, WEF
EMEA
Fiscal Year
No. (rounded)
17,300
19,300
−10.4%
GRI 401-1, WEF
Americas
Fiscal Year
No. (rounded)
12,000
13,800
−13.0%
GRI 401-1, WEF
Asia, Australia
Fiscal Year
No. (rounded)
11,400
14,300
−20.3%
GRI 401-1, WEF
Women
Fiscal Year
No. (rounded)
12,000
14,100
−14.9%
GRI 401-1, WEF
Men
Fiscal Year
No. (rounded)
28,500
32,900
−13.4%
GRI 401-1, WEF
No/other gender entry Fiscal Year
No.
26
50
−48.0%
GRI 401-1, WEF
Gender n/a
Fiscal Year
No.
200
228
–12.3%
GRI 401-1, WEF
Age group < 30
Fiscal Year
No. (rounded)
18,400
21,600
−14.8%
GRI 401-1, WEF
Age group 30 – 50
Fiscal Year
No. (rounded)
19,600
22,600
–13.3%
GRI 401-1, WEF
Age group > 50
Fiscal Year
No. (rounded)
2,500
3,000
−16.7%
GRI 401-1, WEF
Age n/a
Fiscal Year
No.
200
228
−12.3%
GRI 401-1, WEF
Hiring rate29
Total 
Fiscal Year
% of average number 
of employees
12.9%
15.4%
−16.2%
GRI 401-1, WEF
EMEA
Fiscal Year
% of average number 
of employees  
in region
10.0%
11.2%
−10.7%
GRI 401-1, WEF
Americas
Fiscal Year
% of average number 
of ­employees  
in region
18.2%
21.9%
−16.9%
GRI 401-1, WEF
Asia, Australia
Fiscal Year
% of average number 
of ­employees  
in region
14.9%
19.7%
−24.4%
GRI 401-1, WEF
Women
Fiscal Year
% of average 
­number of women
14.0%
17.1%
−18.1%
GRI 401-1, WEF
Men
Fiscal Year
% of average 
­number of men
12.5%
14.7%
−15.0%
GRI 401-1, WEF
No/other gender entry Fiscal Year
% of average 
­number of 
­employees with ­ 
no/other gender
16.4%
89.8%
−81.7%
GRI 401-1, WEF
Age group < 30
Fiscal Year
% of average number 
of employees  
in age group
37.6%
46.7%
−19.5%
GRI 401-1, WEF
Age group 30 – 50
Fiscal Year
% of average number 
of employees  
in age group
10.6%
12.4%
−14.5%
GRI 401-1, WEF
Age group > 50
Fiscal Year
% of average number 
of employees  
in age group
3.2%
3.7%
−13.5%
GRI 401-1, WEF
28	 Employees in management positions with disciplinary responsibility, but without Managing Board Members.
29	 Hiring rate is defined as the ratio of hirings into Siemens during the fiscal year to the average number of employees.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Exits
Exits30
Total
Fiscal Year
No. (rounded)
30,400
35,800
−15.1%
GRI 401-1, WEF
EMEA
Fiscal Year
No. (rounded)
13,000
15,000
−13.3%
GRI 401-1, WEF
Americas
Fiscal Year
No. (rounded)
9,200
11,700
−21.4%
GRI 401-1, WEF
Asia, Australia
Fiscal Year
No. (rounded)
8,200
9,200
−10.9%
GRI 401-1, WEF
Women
Fiscal Year
No. (rounded)
8,500
9,500
−10.5%
GRI 401-1, WEF
Men
Fiscal Year
No. (rounded)
21,800
26,100
−16.5%
GRI 401-1, WEF
No/other gender entry Fiscal Year
No.
28
10
180.0%
GRI 401-1, WEF
Gender n/a
Fiscal Year
No.
118
203
−41.9%
GRI 401-1, WEF
Age group < 30
Fiscal Year
No. (rounded)
8,000
9,400
−14.9%
GRI 401-1, WEF
Age group 30 – 50
Fiscal Year
No. (rounded)
14,900
18,200
−18.1%
GRI 401-1, WEF
Age group > 50
Fiscal Year
No. (rounded)
7,400
8,000
−7.5%
GRI 401-1, WEF
Age n/a
Fiscal Year
No.
118
203
−41.9%
GRI 401-1, WEF
Employee turnover rate30
Total 
Fiscal Year
% of average ­number 
of employees
9.6%
11.6%
−17.2%
GRI 401-1
Voluntary turnover 
rate31
Fiscal Year
% of average ­number 
of employees
5.3%
6.6%
−19.7%
GRI 401-1
Involuntary turnover 
rate32
Fiscal Year
% of average ­number 
of employees
4.3%
5.0%
−14.0%
GRI 401-1
EMEA
Fiscal Year
% of average number 
of employees in 
region
7.5%
8.7%
−13.8%
GRI 401-1
Americas
Fiscal Year
% of average number 
of employees in 
region
14.0%
18.6%
−24.7%
GRI 401-1
Asia, Australia
Fiscal Year
% of average number 
of employees in 
region
10.7%
12.6%
−15.1%
GRI 401-1
Women
Fiscal Year
% of average number 
of women
9.9%
11.5%
−13.9%
GRI 401-1
Men
Fiscal Year
% of average number 
of men
9.5%
11.6%
−18.1%
GRI 401-1
No/other gender entry Fiscal Year
% of average number 
of employees with 
no/other gender 
entry
17.7%
18.0%
−1.7%
GRI 401-1
Age group < 30
Fiscal Year
% of average number 
of employees in 
age group
16.4%
20.4%
−19.6%
GRI 401-1
Age group 30 – 50
Fiscal Year
% of average number 
of employees in 
age group
8.0%
10.0%
−20.0%
GRI 401-1
Age group > 50
Fiscal Year
% of average number 
of employees in 
age group
9.2%
10.1%
−8.9%
GRI 401-1
Employee share programs33
Employees participating in the 
Siemens employee share plans
Total (w/o SHS)
Fiscal Year
No. (rounded)
102,000
103,000
−1.0%
Total (w/o SHS)
Fiscal Year
% of total employees 43.5%
44.5%
−2.2%
30	 Turnover rate is defined as the ratio of voluntary and involuntary exits from Siemens during the fiscal year to the average number of employees.
31	 Voluntary turnover rate is based on employee decision.
32	 Involuntary turnover rate is based on other reasons, including dismissals, end of temporary contracts, mutual consent, (early) retirement, death, and other reasons that are not an 
employee decision.
33	 Based on employees with eligibility to share plans.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Professional education and lifelong learning
Apprentices and dual students
Total
Sept. 30th
No. (rounded)
5,800
5,500
5.5%
GRI 2-7
Germany
Sept. 30th
No. (rounded)
3,600
3,900
−7.7%
GRI 2-7
Average number of interns/(doctoral) 
students with an educational/ 
learning target (e.g. mandatory 
internship)
Total
Sept. 30th
No. (rounded)
1,100
1,000
10.0%
GRI 2-7
Spending on employee education 
and training
Total
Fiscal Year
Million €
416.3
374.6
11.1%
GRI 404-2, WEF
Spending on employee training
Total
Fiscal Year
Million €
237.0
205.4
15.4%
GRI 404-2, WEF
Spending on employee training  
per employee
Total
Fiscal Year
€
753
667
12.9%
GRI 404-2, WEF
Spending on employee training  
per full time employee
Total
Fiscal Year
€
763
676
12.8%
GRI 404-2, WEF
Average training hours per 
employee
Total
Fiscal Year
No.
30
26
12.1%
GRI 404-1, WEF
Digital learning
Fiscal Year
No.
23
21
9.4%
GRI 404-1, WEF
On-site training
Fiscal Year
No.
6
5
23.1%
GRI 404-1, WEF
Women
Fiscal Year
No.
28
26
9.0%
GRI 404-1, WEF
Men
Fiscal Year
No.
30
27
13.1%
GRI 404-1, WEF
no/other gender
Fiscal Year
No.
18
39
−54.2%
GRI 404-1, WEF
Blue-collar workers
Fiscal Year
No.
22
20
12.0%
GRI 404-1, WEF
White-collar workers
Fiscal Year
No.
31
28
12.6%
GRI 404-1, WEF
Average training hours per 
employee category
Top management 
positions
Fiscal Year
No.
34
28
21.5%
GRI 404-1, WEF
Middle/junior man-
agement positions
Fiscal Year
No.
36
28
26.6%
GRI 404-1, WEF
Non-management 
positions
Fiscal Year
No.
29
26
10.7%
GRI 404-1, WEF
Function: Production
Fiscal Year
No.
30
27
12.6%
GRI 404-1, WEF
Function: Sales and 
marketing
Fiscal Year
No.
27
24
10.7%
GRI 404-1, WEF
Function: Research 
and development
Fiscal Year
No.
31
27
16.7%
GRI 404-1, WEF
Function: General 
administration
Fiscal Year
No.
27
24
12.8%
GRI 404-1, WEF
Modules in Siemens digital global 
learning platform My Learning World
Total (w/o SHS)
Fiscal Year
No. (rounded)
136,000
116,600
–16.6%
GRI 404-2, WEF
Share of employees with access to 
digital learning offerings
Total
Fiscal Year
% of total employees 99.6%
90%
10.7%
GRI 404-2, WEF
Participation rate in learning offerings Total
Fiscal Year
% of total employees 100%
100%
0.0%
GRI 404-2, WEF
Development programs
Siemens Core Learning Paths (CLP)
Total
Fiscal Year
No. 
29
29
0.0%
GRI 404-2, WEF
Siemens Potential Development 
­Programs (PDP)
Total (w/o SHS)
Fiscal Year
No.
38
36
5.6%
GRI 404-2, WEF
Xcelerate Your Potential @ Siemens 
(XPS)
Total community
Sept. 30th
No.
23
22
4.5%
GRI 404-2, WEF
Active participants 
(w/o SHS)
Sept. 30th
No.
3
2
50.0%
GRI 404-2, WEF
Siemens Finance Excellence 
­Program (FEP)
Total community
Sept. 30th
No.
69
68
1.5%
GRI 404-2, WEF
Active participants
Sept. 30th
No.
8
9
–11.1%
GRI 404-2, WEF
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Siemens Graduate Program (SGP)
Total community
Sept. 30th
No.
954
913
4.5%
GRI 404-2, WEF
Active participants
Sept. 30th
No.
132
99
33.3%
GRI 404-2, WEF
Occupational health & safety34
Fatalities – work related
Total
Fiscal Year
No.
4
2
100.0%
GRI 403-9, WEF
Temporary workers
Fiscal Year
No.
0
0
GRI 403-9, WEF
Employees
Fiscal Year
No.
0
1
−100.0%
GRI 403-9, WEF
Contractors
Fiscal Year
No.
4
1
300.0%
GRI 403-9, WEF
Fatality Rate – work related35
Total36
Fiscal Year
No.
0.000
0.001
–100.0%
GRI 403-9, WEF
Temporary workers
Fiscal Year
No.
0.000
0.000
GRI 403-9, WEF
Employees
Fiscal Year
No.
0.000
0.0003
−100.0%
GRI 403-9, WEF
High-consequence work-related 
injuries (excluding fatalities)
Total
Fiscal Year
No.
50
68
−26.5%
GRI 403-9, WEF
Temporary workers
Fiscal Year
No.
3
1
200.0%
GRI 403-9, WEF
Employees
Fiscal Year
No.
47
67
−29.9%
GRI 403-9, WEF
High-consequence injury rate37
Total
Fiscal Year
No.
0.015
0.021
–28.5%
GRI 403-9, WEF
Temporary workers
Fiscal Year
No.
0.009
0.003
178.4%
GRI 403-9, WEF
Employees
Fiscal Year
No.
0.015
0.022
–31.4%
GRI 403-9, WEF
Recordable injuries
Total
Fiscal Year
No.
1,466
1,518
−3.4%
GRI 403-9, WEF
Temporary workers
Fiscal Year
No.
199
210
−5.2%
GRI 403-9, WEF
Employees
Fiscal Year
No.
1,267
1,308
−3.1%
GRI 403-9, WEF
Total recordable injury rate38
Total
Fiscal Year
No.
0.43
0.46
–6.1%
GRI 403-9, WEF
Temporary workers
Fiscal Year
No.
0.63
0.71
–12.1%
GRI 403-9, WEF
Employees
Fiscal Year
No.
0.41
0.44
–5.3%
GRI 403-9, WEF
Lost time injuries (LTI)
Total
Fiscal Year
No.
805
853
−5.6%
GRI 403-9, WEF
Temporary workers
Fiscal Year
No.
96
112
−14.3%
GRI 403-9, WEF
Employees
Fiscal Year
No.
709
741
−4.3%
GRI 403-9, WEF
Lost time injury frequency rate 
(LTIFR)39
Total
Fiscal Year
No.
0.24
0.26
−8.2%
GRI 403-9, WEF
Temporary workers
Fiscal Year
No.
0.30
0.38
−20.5%
GRI 403-9, WEF
Employees
Fiscal Year
No.
0.23
0.25
−6.5%
GRI 403-9, WEF
Number of hours worked
Employees
Fiscal Year
No. (in thousand)
614,731
600,758
2.3%
GRI 403-9
Occupational Illness cases
Selected countries
Fiscal Year
No.
62
8840
−29.5%
GRI 403-10, WEF
Fatalities due to occupational Illness
Selected countries
Fiscal Year
No.
6
1140
–45.5%
GRI 403-10
Rate of employees covered with 
OHS MS that has been externally 
audited
Total
Sept. 30th
% of total number 
employees
57%
57%41
0.0%
GRI 403-8
Rate employees covered with OHS 
MS that has been internally audited 
Total (w/o SHS)
Sept. 30th
% of total number 
employees
99.9%
n.a.
GRI 403-8
Rate of access to Medical Care42
Total (w/o SHS)
Sept. 30th
% of total number 
employees
99%
89%
11.8%
GRI 403-6
Rate of access to Health Education42
Total (w/o SHS)
Sept. 30th
% of total number 
employees
94%
85%
11.0%
34	 Excluding CTSI Oncology Solutions.
35	 Number of Fatalities x 200,000 / working hours.
36	 Fatality Rate w/o contractors.
37	 Number of High-consequence injuries x 200,000 / working hours.
38	 Number of Recordable injuries x 200,000 / working hours.
39	 Number of Lost Time Cases (LTC) x 200,000 / working hours. LTC are accidents that results in at least one lost working day.
40	 Due to system change of German Statutory Agency adjusted prior year figures.
41	 Realignment due to calculation error in last year.
42	 Scope of HM Reporting: Countries >30 employees as well as affiliated companies >30 employees.
SIEMENS SUSTAINABILITY REPORT 2023 
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6 Our sustainability indicators

Sustainability Key Performance Indicators 
(KPIs)
Fiscal Year/ 
September 30th
Unit
FY 2023
FY 2022
+/–
Standards
Corporate Citizenship
Donations
Total
Fiscal Year
Million €
29.2
32.1
−9.0%
GRI 201-1, WEF
Total
Fiscal Year
% of Net Income
0.3%
0.7%
−53.1%
GRI 201-1, WEF
Sponsoring Social programs  
(e.g. Arts and education)
Total
Fiscal Year
Million €
14.0
13.5
3.5%
GRI 201-1, WEF
Community investment total
Total
Fiscal Year
Million €
43.2
45.6
−5.3%
GRI 201-1, WEF
Total
Fiscal Year
% of Net Income
0.5%
1.0%
−51.2%
GRI 201-1, WEF
Volunteering hours
Total (w/o SHS)
Fiscal Year
No. (rounded)
36,500
32,650
11.8%
GRI 201-1, WEF
DEGREE SUSTAINABILITY FRAMEWORK – KPI OVERVIEW (FIGURES WITHOUT SIEMENS HEALTHINEERS)
Decarbonization
Scope 1+2: Emission reduction  
to base year
Total (w/o SHS)
Fiscal Year
% to base year 
(2019)
−50%
−46%
9.5%
Supply Chain: Emission reduction  
to base year
Total (w/o SHS)
Fiscal Year
% to base year 
(2020)43
−0.9%
2.5%
−134.0%
Ethics
Quota of participants of Business 
Conduct Guideline training  
(since FY 23)
Total (w/o SHS)
up to Sept. 
30th
% of total number 
of employees
69.0%
99.9%44
Governance
Resource efficiency
Quota of product families with 
Robust Eco Design
Total (w/o SHS)
Fiscal Year
% of relevant 
­revenue45
51%
35%
43.0%
Purchase Quota –  
Secondary material for metals
Total (w/o SHS)
Fiscal Year
% of relevant 
­purchase volume
35%
34%
3.0%
Purchase Quota –  
Secondary material for resins
Total (w/o SHS)
Fiscal Year
% of relevant 
­purchase volume
< 1%
< 1%
Quota of waste-to-landfill reduction 
to base year (w/o construction waste) Total (w/o SHS)
Fiscal Year
% to base year 
(2021)
−15%
−12%
20.2%
Equity
Female share in top management
Total (w/o SHS)
Sept. 30th
% of employees in 
top management
31.1%
27.7%
12.3%
Share of employees with access to 
Siemens employee share plans46
Total (w/o SHS)
Fiscal Year
% of total number 
of employees
99.9%
98.6%
1.3%
Employability
Digital learning hours per employee
Total (w/o SHS)
Fiscal Year
No.
23
21
9.5%
Level of access to Employee 
­Assistance Program42
Total (w/o SHS)
Sept. 30th
% of total number 
of employees
96%
87%
10.3%
Improvement in global LTIFR47
to base year
Total (w/o SHS)
Fiscal Year
% to base year 
(2020)
−26%
−19%
36.8%
42	 Scope of HM Reporting: Countries >30 employees as well as affiliated companies >30 employees. 
43	 Base year 2020 is calculated w/o individual supplier emission data.
44	 Year-to-year comparison between fiscal 2022 and fiscal 2023 is limited. The current cycle started in fiscal 2023.
45	 In FY 23 the share of relevant revenue was 65% of total revenue Siemens w/o SHS.
46	 Where legally possible and reasonable.
47	 Number of Lost Time Cases (LTC) x 200,000 / working hours. LTC are accidents that results in at least one lost working day.
SIEMENS SUSTAINABILITY REPORT 2023 
123
6 Our sustainability indicators

Pages 124 – 157  
Annex
SIEMENS SUSTAINABILITY REPORT 2023 
124

7.1
Reporting methodology
Sustainability is a fundamental principle that guides our 
every action. The Sustainability Report 2023 (below, the 
“Report”) supplements our financial reporting for fiscal 
2023. The present chapter describes the key elements of our 
sustainability reporting.
Reporting approach
The Report explains the strategy, organization, initiatives, 
programs, management approach, targets, actions, and 
results of sustainable corporate governance. It supplements 
the financial reporting provided in the current Annual Report 
and updates the financial reporting from the previous year. 
It also documents the progress we have made in implement-
ing the Ten Principles of the United Nations Global Compact, 
the United Nations CEO Water Mandate, and the recommen-
dations of the Task Force on Climate-Related Financial 
­Disclosures (TCFD).
This Report has been prepared in accordance with the Stan-
dards of the Global Reporting Initiative (GRI 2021) and the 
anti-corruption reporting recommendations of the Global 
Compact from Transparency International. Our reporting on 
human rights activities is based on the UN Guiding Principles 
(UN GP) Reporting Framework and the corresponding guide-
lines. 
Reporting period and Report boundaries
This Report refers to the Siemens 2023 fiscal year (October 1, 
2022, to September 30, 2023). Any exceptions are indicated 
as such. In general, the Report covers all our fully consoli-
dated companies. As a general rule, minority interests are 
not included in the Report. Unless otherwise noted, the key 
indicators and information reported here relate to the com-
pany’s ongoing operations. Some management approaches 
do not cover all Siemens entities or parts of the organization. 
Some parts of the Siemens organization may have intro-
duced specific programs or initiatives that differ from the 
general approaches described in this Report. 
Nonetheless, they are consistent with the DEGREE sustain-
ability framework and the global nonfinancial programs and 
initiatives at Siemens.
Data collection
Given the size and worldwide presence of Siemens, data 
collection poses a logistical challenge. Moreover, our compa-
nies throughout the world need to comply with national 
regulations on the compilation and definition of their key 
figures, which means that the generated data is not always 
comparable. Where applicable, we point out any significant 
limitations in the information presented in the Report. 
The data presented in this Report is collected via various 
internal reporting systems, which for the most part are dif-
ferent from those used to collect the financial information 
presented in our consolidated financial statements. In partic-
ular, the internal reporting systems used to collect the 
information presented in this Report may be subject to less 
stringent internal requirements for documentation, data 
generation, and auditing, including with respect to the IT 
systems and controls employed. We reserve the right to 
change the internal guidelines applicable to the collection of 
the data published in this Report without prior notice. Due to 
rounding, some of the numbers presented in this Report may 
not add up precisely to the totals presented, and percentages 
may not precisely reflect the absolute figures to which they 
refer. 
SIEMENS SUSTAINABILITY REPORT 2023 
125
7.1 Reporting methodology

Methodology, environmental reporting, and 
collection of environmental data
Within our environmental information system, in fiscal 2023 
we evaluated 250 reports from locations in all relevant 
countries where defined threshold values for environmental 
management parameters like energy usage, resource usage, 
water consumption, and emissions were exceeded. We use 
absolute values – for example, energy consumption in giga-
joules – to measure and monitor our environmental impacts. 
We report environmental data for ongoing operations. 
Values have been extrapolated where applicable (e.g., 
waste, energy consumption, or emissions) to 100% coverage 
in order to reflect total consumption. The extrapolation is 
performed on the basis of the area not covered in the report-
ing system. The difference represents a share of 20% for the 
reporting period. We monitor our environmental impacts at 
all environmentally relevant office and production sites on 
the basis of environmental data collected on a quarterly 
basis.
Scope 3 upstream emissions
Scope 3 emissions from our supply chain have been calcu-
lated using a cross-regional, macroeconomic input-output 
model based on our volume of purchased goods and services. 
Scope 3 downstream emissions
With regard to Scope 3 downstream emissions, we calculated 
these emissions in fiscal 2023 in line with the Greenhouse 
Gas (GHG) Protocol, and therefore accounted for and 
reported the emissions from the use of Siemens offerings 
sold or investments made in the reporting year over their 
entire use phase duration. For calculating these emissions, 
in most cases we apply the global power-mix emissions 
­factor defined by the International Energy Agency (IEA). For 
calculating the emissions of end products and key compo-
nents of end products (intermediate products), we apply the 
so-called “final product approach” defined in the GHG Protocol. 
This means that in the case of motors, for example, we take 
into account their power loss as well as their effective power. 
If we applied the “intermediate product approach” to all 
intermediate products – an approach that in the example of 
motors only takes into account their power loss – the 
reported emissions would be lower.
We include all Kyoto gases in our emissions calculations: 
carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), 
hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), and 
sulphur hexafluoride (SF6). To assess the relevance of GHG 
emissions other than CO2, they are converted into metric 
tons of CO2 equivalents (CO2e). This number is based on the 
global warming potential over 100 years of each of the 
greenhouse gases compared to the global warming potential 
of CO2.
We follow the financial control approach to consolidate the 
reporting of emissions.
The source of the emissions factors applied in the 2023 
reporting year is the “IEA Emissions Factors 2022” published 
by the International Energy Agency. For example, the global 
CO2e emissions factor used for electricity generation only is 
461 g CO2e/kWh. If regional calculations are available, local 
emissions factors should be used.
Customer Avoided Emissions
The description of our methodology for calculating ­“customer 
avoided emissions” can be found the Annex on 
 REPORTING 
PRINCIPLES FOR CUSTOMER AVOIDED EMISSIONS.
Methodology, headcount reporting, and 
collection of employee data
Within our global HR reporting, we report headcount num-
bers according to our Siemens Corporate Financial Reporting 
Guidelines. These Guidelines are embedded in our global HR 
reporting standards and HR reporting landscape system 
(HRL), which is the basis for employee reporting figures. 
“Employee” refers to every natural person in an active 
employment relationship with a fully consolidated Siemens 
company. Employees are all internal workforce without 
apprentices, students, interns, and other internal workforce. 
All employee figures in the Social chapters refer to head-
count. For some companies no employee structure data are 
available due to data delivery by SGATE (Siemens Global 
Adding Tool for Employees), which is a web-based tool for 
collecting, storing, and processing headcount figures for 
companies that are consolidated but for a short time not 
able to deliver employee structure data. This can lead to 
minor deviations in breakdown data.
SIEMENS SUSTAINABILITY REPORT 2023 
126
7.1 Reporting methodology

Employee turnover is defined as the ratio of voluntary and 
involuntary exits from Siemens during the fiscal year to the 
average number of employees. Voluntary turnover rate is 
based on employee decision, whereas Involuntary turnover 
rate is based on other reasons, including dismissals, end of 
temporary contract, mutual consent, (early) retirement, 
death, and other reasons that are not the employee’s decision. 
Hiring rate is defined as the ratio of hirings into the Siemens 
group during the fiscal year to the average number of 
employees. The headcount numbers and rates for ­employees 
in management positions include all managers with disci-
plinary responsibility, but without Management Board 
Members (MBM).
Independent assurance
Our sustainability reporting is subject to high quality stan-
dards. Therefore, as in previous years, we commissioned an 
independent audit firm to conduct a limited assurance of our 
Sustainability Report 2023. The results of the assurance 
conducted by Ernst & Young GmbH Wirtschaftsprüfungs-
gesellschaft are presented in the chapter titled “Independent 
auditor’s limited assurance report.”
Editor’s note
An effort has been made to use gender-neutral language 
throughout. Nevertheless, if on occasion the masculine form 
is used for easier readability, it stands for people of all genders.
SIEMENS SUSTAINABILITY REPORT 2023 
127
7.1 Reporting methodology

7.2
Reporting principles for Customer Avoided 
Emissions
For 15 years (until fiscal 2021), we reported the revenue 
generated from our Environmental Portfolio and the result-
ing annual reduction of greenhouse gas emissions (GHG) 
achieved by our customers on the basis of the internal regu-
lations defined in our Environmental Portfolio Guideline. 
Starting in fiscal 2022, we began to report key figures for 
sustainable activities, including revenue, in accordance with 
the new EU Taxonomy regulation. We are also continuing to 
calculate and report on Customer Avoided Emissions. 
GHG Use Phase Impact Reporting Guideline
The Siemens GHG Use Phase Impact Reporting Guideline sets 
out basic requirements and guidelines for calculating and 
reporting emissions associated with the use of products, 
systems, solutions, and services sold and investments made 
by Siemens. It covers:
→	Scope 3 downstream GHG emissions resulting from the 
use of sold products (Category 11) and investments 
­(Category 15) according to the GHG Protocol Corporate 
Value Chain (Scope 3) Standard (GHG Protocol Standard)
→	Customer Avoided Emissions (according to Siemens’ own 
methodology
The following summary will focus on the second part, the 
calculation and reporting of Customer Avoided Emissions. 
Customer Avoided Emissions result either from products, 
systems, solutions, and/or services sold by Siemens or from 
investments made by Siemens Financial Services (SFS).
Customer Avoided Emissions
A company’s carbon footprint does not measure the company’s 
contribution to decarbonization by its partners and customers. 
Although the carbon footprint can indeed reflect emissions 
reductions resulting from the use of its solutions (Scope 3 
downstream emissions) over time, it does not indicate 
whether these solutions have enabled the customer to 
achieve lower emissions than an alternative solution (refer-
ence scenario). Quantifying the decarbonization impact 
resulting from the use of the company’s products and solu-
tions (avoided emissions) helps convey a full picture of the 
company’s contribution to global decarbonization.
The term “Customer Avoided Emissions” refers to the “posi-
tive” impact determined by comparing the GHG emissions of 
two different solutions or scenarios. Avoided emissions are 
emissions that are saved or avoided during the customer use 
phase from the use of our products or financing compared to 
a baseline (reference scenario).
The guideline used for calculating and reporting Customer 
Avoided Emissions is based on a methodology defined by 
Siemens itself due to the lack of a commonly used external 
definition or standard. It is aligned with the GHG Scope 3 
downstream reporting according to the GHG Protocol Standard.
Calculation principles
The calculation principles are based on the standards “A Cor-
porate Accounting and Reporting Standard – Revised Edition” 
and “GHG Protocol for Project Accounting,” both published 
by the Greenhouse Gas Protocol Initiative. These principles 
are relevance, completeness, consistency, transparency, 
accuracy, and conservativeness.
All Siemens Businesses and SFS are required to apply these 
principles in order to enable the integrity and credibility of 
the data and a true and fair presentation of Siemens’ Customer 
Avoided Emissions.
Accounting boundaries
The accounting boundaries for data on Customer Avoided 
Emissions only encompass the phase during which a prod-
uct, system, solution, or service is used by the customer or 
the term of an investment. Therefore, GHG emissions occur-
ring during other phases of the lifecycle – for instance, in the 
supply chain, in production, or upon end-of-life disposal – 
are not included in the calculation. 
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7.2 Reporting principles for Customer Avoided Emissions

Accounting for Customer Avoided Emissions
All Siemens Businesses and SFS are required to report the 
Customer Avoided Emissions for all products, systems, solu-
tions, services, or investments that lead to the avoidance of 
GHG emissions during the customer use phase.
Customer Avoided Emissions represent the difference 
between the GHG emissions of a Siemens offering and the 
GHG emissions of a baseline or reference scenario. Siemens 
Businesses and SFS must account for and report the annual 
Customer Avoided Emissions from the use of Siemens offer-
ings sold or investments made in the reporting year over the 
entire duration of their use phase (“future impact of today’s 
revenue” similar to Scope 3 use phase emissions according 
to the GHG Protocol Standard).
Exclusion criteria:
Before calculating Customer Avoided Emissions, all Siemens 
products, systems, solutions, services, and investments need 
to be checked against the following exclusion criteria:
→	Field of application: No Customer Avoided Emissions may 
be accounted for and reported in the military use or 
nuclear power application fields.
→	Objections and concerns of external stakeholders: If 
stakeholders express concerns or objections, internal or 
external information is evaluated and appropriate mea-
sures are taken.
→	Adverse effects: If evidence comes to Siemens’ attention 
that a Siemens product, system, solution, service, or 
investment causes considerably greater adverse environ-
mental impacts elsewhere in the element’s lifecycle, 
Customer Avoided Emissions are not calculated.
Greenhouse gases considered
The accounting for Customer Avoided Emissions includes, 
where appropriate, all six greenhouse gases defined in the 
Kyoto Protocol (so-called “Kyoto gases”), including: carbon 
dioxide (CO2), methane (CH4), nitrous oxide (N2O), sulfur 
hexafluoride (SF6), hydrofluorocarbons (HFCs), and perfluo-
rocarbons (PFCs).
To assess the relevance of GHG emissions other than CO2, 
they are converted into metric tons of CO2 equivalents 
(CO2e). This number is based on the global warming potential 
over 100 years of the respective greenhouse gas compared 
to the global warming potential of CO2.
Baseline methodology 
The baseline methodology defined in the guideline refers to 
the comparison of a Siemens product, system, solution, 
service, or investment with a reference situation in the 
absence of the Siemens offering. To enable credibility and 
avoid overstating the positive effect, the reference scenario 
has to represent as best as possible the situation that would 
have occurred without the Siemens solution.
→	Before-and-after comparison: Refers to the difference 
between an initial customer situation and the situation 
after the implementation of a Siemens offering intended 
to improve or substitute certain characteristics. This com-
parison can be applied, for example, to cases in which a 
Siemens solution optimizes a building’s energy consump-
tion.
→	Direct comparison with a reference technology: 
Refers to the difference between the Siemens offering 
and a comparable other single technology or predecessor 
with a similar purpose. This comparison may be applied, 
for example, to new product generations or the electrifi-
cation of fossil fuel technologies.
→	Comparison with the installed base: Refers to the 
difference between the Siemens offering and an average 
market solution used for the same or a similar purpose 
(market standard). This comparison can be applied, for 
example, to renewable energy projects by drawing a 
comparison with the average global greenhouse gas 
emission factor for electricity generation.
Recognition of Customer Avoided Emissions
In general, Customer Avoided Emissions are recognized for 
products, systems, solutions, services, or investments. In 
many cases, however, Siemens delivers only the components 
of a complete product, system, solution, service, or invest-
ment. In these cases, it is often impossible to directly deter-
mine the avoided emissions attributable to the components 
during the use phase with the customer.
Therefore, Siemens Businesses and SFS need to apply the 
following rules when accounting for and reporting Customer 
Avoided Emissions:
→	Siemens supplies the entire product, system, solution, 
service, or investment: Siemens accounts for 100% of the 
Customer Avoided Emissions during the customer use 
phase.
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7.2 Reporting principles for Customer Avoided Emissions

→	Siemens provides all core component(s), even if they only 
represent intermediate products of an end application: 
Siemens accounts for 100% of the Customer Avoided 
Emissions during the customer use phase.
→	Siemens provides some of the core component(s): In the 
first step, all core components that are involved with 
Customer Avoided Emissions are identified. In the second 
step, the Siemens share of the total Customer Avoided 
Emissions of the end application is determined by calcu-
lating the ratio of Siemens components to the total net 
delivery price of all core components.
→	Siemens does not provide any of the core components of 
a product, system, solution, service, or investment: 
Siemens reports no Customer Avoided Emissions.
Optional accounting of Customer Avoided Emissions
So far, there are no robust calculation approaches to quantify 
the decarbonization effect of all portfolio elements: for 
instance, software or automation technology. Some Siemens 
products, systems, solutions, or services are “enabling tech-
nologies” and do not demonstrate a direct decarbonization 
effect on the product-level. Nevertheless, these enabling 
technologies can often be critical components needed for 
the transition to a low-carbon economy. One example are 
solutions from Smart Infrastructure which can facilitate the 
­system transformation to an electrification of the global 
energy system. Therefore, quantifying these enabling decar-
bonization impacts requires calculation approaches on a 
system level where these components are built in. Due to the 
lack of a commonly used external definition or standard, in 
fiscal 2023 Siemens began to account for these “indirect” or 
“enabling” decarbonization effects but has decided to report 
them separately for the purpose of transparency and conser-
vativeness. The same accounting principles are applied as 
described above. With regard to the example from Smart 
Infrastructure, the calculation to determine the contribution 
to electrification and therefore decarbonization is based on 
the total global energy use and the share of electrification 
and automation solutions from Smart Infrastructure as part 
of the total global investment in electrification. The eligible 
revenue, based on the EU Taxonomy, is included in the 
­calculation along with the grid mix evolution of electricity 
generation.
Calculation
Siemens Businesses and SFS are required, where applicable, 
to report Customer Avoided Emissions associated with all 
products, systems, solutions, services, or investments that 
lead to the avoidance of emissions in the customer use 
phase. The amount of Customer Avoided Emissions is the 
difference between the GHG emissions of the given Siemens 
offering and the reference scenario defined above.
Technical parameters and assumptions
The calculation of Customer Avoided Emissions is based on 
different parameters in order to best reflect the amount of 
avoided emissions during the entire use phase of a Siemens 
offering, similar to the calculation of downstream Scope 3 
emissions. The calculation parameters (e.g., emission factors 
or expected use phase duration) should be reviewed and 
updated regularly in order to reflect the most current status 
of these numbers. The calculation approach should be 
­consistent with the calculation of downstream Scope 3 
emissions ­(Categories 11 and 15).
In some cases, the actual parameters, like the product’s 
operating time or intended intensity of use by the customer, 
cannot be reliably determined. Under these circumstances, 
conservative estimates should be applied and documented 
appropriately. In general, the emissions of the reference 
scenario and the Siemens offering should include the poten-
tial development of the situation over time. The calculation 
of future emissions from products with long lifespans is 
subject to a high degree of uncertainty. Using an energy 
scenario to describe a changing emission factor would lead 
to incomparable calculation results whenever the scenario is 
updated. Therefore, we decided to use the annually updated 
emission factors, which incorporate the changes in the 
global energy mix from year to year, in a manner consistent 
with the calculation of our downstream Scope 3 emissions.
The source of the emission factors applied in the 2023 
reporting year is the “IEA Emission Factors 2022” published 
by the International Energy Agency. For example, the global 
CO2e emissions factor used for electricity generation only is 
461 g CO2e/kWh.
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7.2 Reporting principles for Customer Avoided Emissions

If regional calculations are available, local emissions factors 
should be used.
Offerings with no material Customer Avoided Emissions 
impact, or in cases where the calculation cannot be reliably 
determined when applying reasonable cost-benefit consid-
erations, are not considered in the accounting.
Recalculation
To enable consistency, especially over time, Siemens Busi-
nesses and SFS recalculate the Customer Avoided Emissions 
in accordance with the guideline. Events that lead to relevant 
changes in the data on Customer Avoided Emissions typically 
include corporate mergers, acquisitions, and divestments, 
mistakes in previous calculations, changes in external stan-
dards or in the Siemens calculation methodology, significant 
changes in the parameters and assumptions applied in the 
calculation, and any other events that lead to material 
changes in calculation estimates.
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7.2 Reporting principles for Customer Avoided Emissions

7.3
Our contribution to sustainable development 
of societies 
–	 Effective influence in achieving UN’s Sustainable 
Development Goals (SDGs)
–	 SDGs included in our DEGREE sustainability 
­framework
The United Nations’ 17 Sustainable Development Goals 
(SDGs) and their 169 targets serve as a compass for the 
change efforts that must be made by governments, busi-
nesses, cities, and civil society as a whole if we are to achieve 
a more sustainable future. The SDGs and their associated 
targets address the most important economic, social, envi-
ronmental, and governance-related challenges of our times, 
and therefore they help stimulate transformational change. 
At Siemens we have adopted them as values, and so the 
SDGs also influence us as a company. 
Allocation of the SDG goals to Siemens sustainability framework DEGREE
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7.3 Our contribution to sustainable development of societies

They are firmly associated with our DEGREE sustainability 
framework, which guides our sustainability management, and 
they also describe the details of our sustainability ambitions. 
The long-term priorities for Siemens as part of our sustain-
able development agenda are clear: We want to apply our 
engineering expertise and our approach to connect the real 
and digital worlds, improve people’s quality of life, and protect 
the planet. In particular, this is supported by our corporate 
purpose of “We create technology to transform the everyday, 
for everyone.” The UN’s 17 SDGs have therefore become 
fixtures in our everyday business. Siemens deploys its tech-
nology portfolio to support the public and private sectors in 
the digital transformation of industry, building and network 
infrastructures, mobility, and healthcare and can offer exten-
sive business opportunities for value-enhancing growth. At 
the same time, we provide cost-effective, innovative solutions 
for the transition to carbon neutrality. These technologies 
support customers in achieving their objectives while 
­consuming fewer resources. To varying extents, Siemens 
helps achieve most of the SDGs in the UN’s Agenda 2030 in 
four important ways:
→	through our products and solutions,
→	by doing business responsibly,
→	through our expertise and thought leadership, and
→	through our corporate citizenship activities and 
­community engagement.
How we contribute to achieving the SDGs
From a global perspective, these are the SDGs where Siemens 
has a high or medium impact:
Goal 3 – Ensure healthy lives and promote 
well-being for all at all ages 
We make a significant impact on SDG 3 with our business 
portfolio, especially through SHS and the production tech-
nologies we provide to pharmaceutical companies. In addition 
to the impact of our portfolio, we also care about the health 
and safety of our people and contract workers. Separately 
from SHS, Siemens sets ambitious goals for access to 
Employee Assistance Programs and for reducing employee 
accident rates (Lost time injury frequency rate – LTIFR). We 
also participate in health-related community engagement 
activities like cancer awareness campaigns and mobile clinics. 
Goal 4 – Ensure inclusive and equitable quality 
education and promote lifelong learning oppor-
tunities for all 
Lifelong learning is a basic prerequisite for ensuring employ-
ability for our people and in the job market in general. We 
offer access to education in multiple ways, including learn-
ing and education opportunities for all our people, as well as 
vocational and more advanced training through partnerships 
with schools and universities. Education for our customers 
and suppliers is likewise high on our agenda. We also aim to 
inspire young people to pursue careers in STEM fields 
­(science, technology, engineering, and mathematics) with 
our numerous corporate citizenship activities around the 
world.
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7.3 Our contribution to sustainable development of societies

Goal 5 – Achieve gender equality and empower 
all women and girls 
We firmly believe that promoting diversity in the workforce 
serves the interests of both society and Siemens itself. 
Diversity reinforces our innovative strength, unleashes 
employee potential, and directly contributes to our business 
success. Our human resources management also supports a 
transformation in top management, where there is room for 
improvement. We are recruiting more women for top mana-
gerial positions and are including more women in network-
ing activities, trainings, and mentoring programs. Without 
SHS, Siemens aims to have 30% of its top management 
positions worldwide filled by women by 2025. 
Goal 7 – Ensure access to affordable, reliable, 
sustainable, and modern energy for all 
Our business portfolio covers the entire spectrum of applica-
tions for modern smart grids and energy distribution systems. 
The rapid expansion of decentralized energy structures 
powered by Siemens technology creates a more diverse 
energy mix and improves the security of the energy supply. 
The Internet of Things and data-based technologies foster 
energy intelligence and pave the way toward a sustainable 
energy landscape. Our technologies facilitate access to 
clean, reliable, low-carbon energy.
Goal 8 – Promote sustained, inclusive and sus-
tainable economic growth, full and productive 
employment, and decent work for all 
Siemens is committed globally to the New Normal Working 
Model. Our aim with the new normal is for all our people 
around the world to be able to work on a mobile basis two to 
three days a week, wherever feasible and reasonable. Mobile 
working has many advantages for the individual and also for 
the company: for instance, by ensuring that we are prepared 
to respond flexibly during future crises. Our worldwide 
business operations and our position as a thought leader 
mean that in many countries we contribute toward the 
growth of the gross domestic product (GDP). We are committed 
to offering attractive jobs and facilitating employment, and 
we are encouraging the decoupling of economic growth 
from energy consumption.
Goal 9 – Build resilient infrastructure, promote 
inclusive and sustainable industrialization, and 
foster innovation 
As a global technology company and innovation leader in 
electrification, automation, and digitalization, Siemens 
supports sustainable industrialization. With our engineering 
expertise, our knowledge of numerous sectors, and our 
digital technology, we help our business partners across the 
entire value chain, from design to production, and from 
operations to maintenance. We believe in international 
partnerships as the key to innovation. A large percentage of 
our customers and suppliers are small and medium-sized 
enterprises (SMEs). We have officially adopted sustainability 
as an additional strategic imperative for our investment 
decisions. 
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7.3 Our contribution to sustainable development of societies

Goal 11 – Make cities and human settlements 
inclusive, safe, resilient, and sustainable 
Siemens is a trusted partner for municipal governments and 
offers solutions across all infrastructure domains to make 
cities more efficient, sustainable, and resilient – for instance, 
with intelligent transportation solutions, efficient and safe 
buildings, and smart-city initiatives that leverage the power 
of digitalization. 
Goal 12 – Ensure sustainable consumption and 
production patterns
Siemens is committed to using resources responsibly and 
recognizes that the circular economy offers highly beneficial 
opportunities for business, the environment, and society. By 
the end of this decade we want to evolve even more toward 
the circular economy, for example by increasing the percent-
age of metals and plastics we procure as secondary materials. 
We also aim to reduce our amount of landfill waste. Siemens 
has worldwide strategic initiatives for the design phase to 
the end of lifecycle of its products and operations, and is 
committed to robust, ecologically friendly design. We apply 
disruptive technologies and innovative business models to 
make an active contribution to the circular economy. 
Goal 13 – Take urgent action to combat climate 
change and its impacts 
Our portfolio helps our customers reduce their emissions 
and thereby achieve their decarbonization goals. Siemens 
was one of the world’s first industrial firms to commit to 
making its own business activities carbon neutral by 2030. 
In addition to reducing emissions from Siemens' operations 
without SHS by 55% by 2025 and by 90% by 2030, we also 
strive to lower all emissions associated with us – from our 
supply chain throughout the entire use phase of our prod-
ucts. Siemens without SHS is committed to a 20% reduction 
in emissions in its supply chain by 2030 compared to 2020 
and aims to achieve a CO2 neutral supply chain by 2050. 
With its commitment to science-based targets, Siemens 
supports the goal of the Paris Climate Agreement to limit 
climate change to 1.5°C (Science-Based Target Initiative, 
including SHS).
Goal 16 – Promote peaceful and inclusive societ-
ies for sustainable development, provide access 
to justice for all, and build effective, accountable, 
and inclusive institutions at all levels
We anchor integrity and compliance throughout our company 
and advance the Siemens Integrity Initiative with external 
stakeholders. By these means and through our activities with 
other players, we support fair competition and ensure our 
company’s long-term success. Siemens is committed to 
incorporating the requirements of the United Nations Global 
Compact (UNGC), the Human Rights Declaration, and all 
other relevant regulations into our supply chain and to pro-
moting their principles through our work with external 
organizations and institutions.
Goal 17 – Strengthen the means of implementa-
tion and revitalize the Global Partnership for 
Sustainable Development 
As a global company and an advocate of free trade, we 
believe that partnerships are a key to sustainable develop-
ment and to our company’s success. We also recognize the 
importance of digitalization, project financing, and public-­
private partnerships for sustainable development. In all of 
these areas, we are partnering with international organiza-
tions, business organizations, think tanks, nongovernmental 
organizations (NGOs), and academia, including the UNGC, 
World Economic Forum (WEF), econsense, Transparency 
International, and numerous universities.
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7.3 Our contribution to sustainable development of societies

7.4
Task Force on Climate-Related Financial 
Disclosure (TCFD) 
The G20 Financial Stability Board’s Task Force on Climate-­
Related Financial Disclosure provides a uniform framework 
that companies can voluntarily use to report their climate-­
related risks and opportunities and disclose the correspond-
ing information to investors, lenders, insurers, and other 
stakeholders. This Annex provides an overview of Siemens’ 
activities based on these recommendations and offers refer-
ences to other sources of relevant information.
Our governance in the area of climate action
Governance at the Managing Board level 
At Siemens, sustainability is rooted in all that we do, includ-
ing our business purpose and strategy, corporate culture, 
processes, and guidelines. The management of sustainability 
matters is embedded across our Siemens businesses, Service 
and Governance units, and countries. Sustainability has also 
been an integral component of management compensation 
since fiscal 2020. Put simply, we strive to make sustainability 
everyone’s responsibility at Siemens.
As the top management body, the Managing Board is 
responsible for serving the company’s best interests and for 
achieving sustainable growth in company value. The Managing 
Board members are responsible for the entire management 
of the company and decide on key issues of business policy 
and corporate strategy. 
The Supervisory Board oversees and advises the Managing 
Board in its management of the company’s business. The 
Supervisory Board meets regularly to discuss business devel-
opment, planning, strategy, and the implementation of that 
strategy.
In 2023, we significantly strengthened our sustainability 
organization throughout the company by introducing the 
Sustainability Executive Committee (EC SUS) and Heads of 
Sustainability in key businesses and business units, and we 
increased the responsibility of the Global Head of Sustain-
ability (Global Head of SUS) and the Siemens Sustainability 
department.
The Managing Board addresses sustainability-related risks 
and opportunities of strategic and company-wide impor-
tance and adopts appropriate measures. The Managing 
Board also approves any changes to the DEGREE sustainability 
framework.
The Siemens Sustainability Board (SSB) monitors and 
resolves Siemens’ sustainability topics, including tracking 
the progress of our DEGREE ambition, providing input and 
guidance on sustainability reporting, and acting as a catalyst 
for regional sustainability initiatives with the potential to 
scale across Siemens. The SSB is composed of representa-
tives from Siemens’ businesses, countries, and Service and 
Governance units. The SSB meets four times per year or 
more frequently as needed. The SSB provides updates and 
recommendations to the Managing Board.
Topics associated with climate change appeared regularly on 
the agenda of EC SUS and SSB meetings in fiscal 2023 and 
included, for example, our Net Zero Operations Program 
implementation or product-related decarbonization efforts.
The Sustainability Executive Committee (EC SUS) acts as 
guidance body for Siemens sustainability business – the 
Siemens portfolio that enables positive sustainability impact 
by addressing and financing (i) decarbonization and energy 
efficiency, (ii) resource efficiency and circularity as well as 
(iii) people centricity and social impact – with a focus on 
portfolio market segments and go-to-market topics, and it 
meets on an ad hoc basis to discuss relevant subjects. 
Chaired by Siemens’ CEO, the EC SUS includes Siemens’ CSO, 
the CEOs of key businesses, Chief Strategy Officer, General 
Counsel, and Global Head of SUS.
The Chief Sustainability Officer (CSO) oversees Siemens’ 
sustainability topics. The CSO is a member of the Siemens 
Managing Board, chairs the Siemens Sustainability Board 
(SSB), and is a member of the Sustainability Executive Com-
mittee (EC SUS). The CSO is also responsible for the Siemens 
Sustainability department.
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7.4 Task Force on Climate-Related Financial  Disclosures (TCFD)

In addition to our strategic sustainability activities, the CSO 
ensures that we operate in compliance with our environ-
mental guidelines. Our EHS Principles serve as internal 
binding guidelines for this purpose. Siemens has also 
founded expert panels to ensure that environmental consid-
erations are integral to our decision-making. The Global 
Board EHS is composed of subject-matter experts who 
develop environmental protection measures and programs 
and provide advice to the Chief People and Sustainability 
Officer in consultation with the Siemens Sustainability Board.
 SUSTAINABILITY GOVERNANCE AND ORGANIZATION, 
 CDP 2023 C1, 
 OUR DEGREE SUSTAINABILITY FRAMEWORK
Governance at the business and management levels
The Global Head of Sustainability (Global Head of SUS) leads 
the Siemens Sustainability department. In this capacity, the 
Global Head of SUS reports to the CSO on all Siemens 
­sustainability topics excluding sustainability business and 
related strategy topics. For the latter topics, the Global Head 
of SUS reports to Siemens’ CEO. The Global Head of SUS is a 
regular member of the SSB. The Global Head of SUS regularly 
informs the Supervisory Board on sustainability matters.
The Siemens Sustainability department is responsible for 
developing our DEGREE sustainability framework in coordi-
nation with the SSB, businesses, Service and Governance 
units, and countries and controlling the DEGREE target 
achievements. Responsibility for sustainability reporting and 
the Net Zero Operations Program also lies with the Sustain-
ability department. It also governs the purchase of carbon 
offsets and the Sustainability Risk Due Diligence Process. The 
Sustainability department also supports sustainability initia-
tives with scalability across Siemens. This includes developing 
the processes, training, and tools needed to address over-
arching sustainability topics for our countries, businesses, 
and Service and Governance units in collaboration with other 
Siemens organizations. Finally, the Sustainability department 
is responsible for developing strategic considerations for the 
Siemens sustainability business in alignment with the 
­Managing Board, EC SUS, and the CEOs.
CEOs are ultimately responsible for all sustainability topics in 
their area of responsibility. This includes responsibility for 
the sustainability business, implementation of DEGREE, 
sustainability reporting, the Sustainability Risk Due Diligence 
Process, and other related responsibilities. 
The CEOs of Digital Industries, Smart Infrastructure, Siemens 
Mobility, and Siemens Financial Services (SFS) are supported 
by their respective Heads of SUS to achieve their sustainabil-
ity mandates. The Heads of SUS also assist the Global Head 
of SUS with their responsibilities in the Sustainability depart-
ment, as they pertain to their businesses. Heads of SUS have 
a governance reporting line to the Global Head of SUS in 
addition to their reporting line to their respective CEOs. The 
Heads of SUS are appointed by the respective CEOs, in align-
ment with the Global Head of SUS.
In addition, the CEOs of the business units in Digital Industries, 
Smart Infrastructure, Siemens Mobility, and SFS each appoint 
Sustainability Managers who have a governance reporting 
line to the Heads of SUS and to their reporting line to their 
respective CEOs.
Lead Country SUS Managers support their respective Lead 
Country CEOs and their assigned countries. They also lead 
Siemens’ sustainability topics within the scope of responsi-
bility of the Lead Country management.
Our Service and Governance units are responsible for the 
ongoing development of sustainability-related topics within 
their own mandate in line with the DEGREE sustainability 
framework and regulatory and organizational requirements.
Lastly, Sustainability Risk Due Diligence Subject Matter 
Experts are appointed by and support Digital Industries, 
Smart Infrastructure, Siemens Mobility, and SFS to responsibly 
conduct the Sustainability Risk Due Diligence Process.
Siemens’ Environmental Council assesses Siemens’ environ-
mental risks, opportunities, and trends based on uniform 
criteria and reports them to the Siemens Enterprise Risk 
Management. The council is composed of environmental 
experts from our business units and countries as well as 
experts in corporate governance, environmental protection, 
supply chain, sustainability, finance, technology, real estate, 
and insurance.
 SUSTAINABILITY GOVERNANCE AND ORGANIZATION, 
 SUSTAINABLE 
SUPPLY CHAIN PRACTICES, 
 ENVIORNMENT, 
 CONSERVING RESOURCES, 
 CDP 2023 C1, 
 OUR DEGREE SUSTAINABILITY FRAMEWORK
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7.4 Task Force on Climate-Related Financial  Disclosures (TCFD)

Our strategic response to climate-related 
opportunities and risks
The DEGREE sustainability framework includes the sustain-
ability-related topics important for Siemens, including 
decarbonization and resource efficiency, for which we have 
set ambitious targets (see paragraph “Metrics and targets”). 
These targets, in conjunction with our overall Science-Based 
Targets initiative-validated (SBTi) decarbonization target, 
apply to Siemens’ own operations and to our upstream and 
downstream value chain.
We have officially adopted sustainability as an additional 
strategic imperative for our investment decisions.
Siemens is a leading technology company with a portfolio 
designed to drive the digital and sustainable transformation 
of industry, infrastructure, mobility, and healthcare. We 
firmly believe that technology is the answer to creating a 
sustainable future. As key pillars of our strategy, digitalization 
and sustainability help future-proof our business and that of 
our customers.
To further increase our positive impact, we believe that 
working in ecosystems is the best way to jointly create seam-
less solutions for our customers and their specific challenges.
Siemens’ business is focused on enabling customers to 
achieve a positive sustainability and climate-related impact 
along the following value propositions:
Decarbonization & energy efficiency
We support our customers with their efforts to decarbonize 
their infrastructure and operations, drive energy efficiency, 
and future-proof entire industries. We do this by offering 
products, systems, solutions, and services that are based on 
our strategic focus on digitalization, electrification, and 
automation. For example, our energy-efficient products and 
solutions support the transition from fossil fuels to renew-
able energy sources, and our electrification solutions enable 
renewable grid integration and the electrification of heat 
and hydrogen. Across industries, we offer energy optimiza-
tion and carbon footprint management throughout our 
products’ lifecycles and supply chains. In buildings, we offer 
energy efficiency and decarbonization solutions, such as 
smart buildings and smart energy management for a reduced 
carbon footprint. Our rail systems offer low-carbon mobility 
and increased energy efficiency.
Resource efficiency & circularity
Through their use of our digital technology, our customers 
can achieve resource efficiency and profitability. For 
instance, we harness digitalization to reduce the require-
ments of physical assets and resources. We combine the real 
and the digital worlds with our digital twin technology, a 
virtual representation of a physical product or process that is 
used to simulate, predict, and optimize its physical counter-
part. Digital twins enable users to do more with fewer 
resources and make current and future environmental foot-
prints transparent. Our building solutions also contribute to 
optimized space utilization and ultimately increase resource 
efficiency. Our mobility solutions focus on enhanced net-
work capacity and extended lifecycles.
 STRATEGY, 
 OUR DEGREE SUSTAINABILITY FRAMEWORK
Climate-related opportunities and risks
Climate-related opportunities and risks are integrated into 
our company-wide Enterprise Risk Management (ERM) 
­process. ERM at Siemens is based on a net risk approach in 
which the risks and opportunities are addressed that remain 
after implementing existing, effective measures and controls.
As a global technology company and innovation leader in 
the fields of electrification, automation, and digitalization, 
Siemens supports sustainable industrialization. These topics 
are becoming increasingly important in the transition to a 
low-carbon economy – a development that confirms our 
company strategy. Although there are uncertainties about 
the impact of climate-related changes, we consider the 
transition to a low-carbon economy as an opportunity. A 
favorable political and regulatory environment including the 
transition towards a low-carbon economy could restore a 
more positive industrial investment sentiment that supports 
the growth of our markets. In addition, government initia-
tives and subsidies (including tax reforms, green and digital 
recovery plans, R&D among others) lead to more government 
spending (e.g. infrastructure, healthcare, mobility or digita-
lization investments) and may ultimately result in an oppor-
tunity for us to participate in ways that increase our revenue 
and profit. Investments to strengthen countries’ resilience, 
energy and food security, as well as to diversify value chains 
close to major markets (reshoring, nearshoring) can present 
opportunities to businesses. By enabling our customers to 
reduce their greenhouse gas (GHG) emissions using our 
portfolio and by reducing CO2e emissions in our own opera-
tions, Siemens strives to support the transition towards a 
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7.4 Task Force on Climate-Related Financial  Disclosures (TCFD)

low-carbon economy. Siemens also welcomes and supports 
recent legislative and governmental measures to accelerate 
the mitigation of climate change, especially in Europe such 
as through the Green Deal or sustainable finance initiatives.
 SIEMENS FINANCIAL REPORT FOR FISCAL 2023, COMBINED MANAGEMENT 
REPORT, CHAPTER 8.4 OPPORTUNITIES, 
 CDP 2023 C2.4
To leverage these climate-related opportunities, we again 
included sustainability and decarbonization in this year’s 
strategy review, in which we formulated concrete action 
plans for our business units in order to support our customers 
in achieving their sustainability and decarbonization goals in 
an even more targeted fashion.
Potential transition risks (e.g., regulation, market, and tech-
nology) and physical climate-related risks are assessed in our 
risk process. In this process, we have generally identified the 
risk of an increasing sustainability focus. Governments 
around the world continue to increase their focus on sustain-
ability topics, resulting in the risk of increased costs to 
­comply with new laws and related reporting requirements. 
In addition, increasing stakeholder and investor focus on 
sustainability topics brings reputational risk should our sus-
tainability commitments, targets and activities be perceived 
as a deceptive use of green marketing or otherwise not 
credible. Climate change litigation has become a worldwide 
phenomenon with a corresponding risk to Siemens as a large 
corporation. We address these risks in a variety of ways 
including through our sustainability framework DEGREE, in 
which we have set ambitious sustainability targets. DEGREE 
includes measures to reduce our carbon footprint along with 
other initiatives addressing ESG topics more generally. 
We have implemented an ESG due diligence process that 
­supports Siemens businesses with due diligence in the 
customer-­oriented environment with a view to possible 
environmental and social risks as well as related human rights 
and reputational risks. Finally, we believe our overall portfolio 
is very well positioned to meet the current and future 
­sustainability needs of our customers and the societies in 
which we operate. 
 SIEMENS FINANCIAL REPORT FOR FISCAL 2023, COMBINED MANAGEMENT 
REPORT, CHAPTER 8.3 RISKS, 
 CDP 2023 C2.3
Analysis of climate-related scenarios
Different climate-related scenarios are used at Siemens for 
different purposes: for instance, for our business strategy 
and decarbonization strategy and to identify opportunities 
and risks. Our decarbonization target, which is approved by 
the Science-Based Targets initiative, is aligned with the 1.5°C 
target and therefore the Paris Agreement. 
As described in our 
 STRATEGY chapter, there are several 
megatrends that are driving us to rethink established ways 
of doing things. These megatrends and their impacts are 
reshaping the needs of our customers and markets. To create 
a holistic picture of potential futures, we execute sustainabil-
ity scenario analyses that enable us to map impacts and 
risks, identify opportunities, and find new ways to create 
value through pathways by 2030 and 2040. Strategic 
insights are derived from scientific frameworks like the 
Intergovernmental Panel on Climate Change’s (IPCC) Repre-
sentative Concentration Pathways (RCPs) and Shared Socio-
economic Pathways (SSPs) as well as market trends and 
expert knowledge. The sustainability scenarios illustrate 
different possible development pathways for the global 
economy and Siemens’ operating environment, across the 
focus topics climate, circularity, biodiversity, and society that 
take into account both an organized 1.5°C and a disorganized 
3°C pathway. These scenarios guide the development of our 
sustainability strategy.
By providing innovative technologies, we see ourselves as a 
leading decarbonization partner to our customers and society 
in general. To fulfill this role, we need to have a precise 
understanding of the technological changes that must be 
made in the next few decades and beyond. We rely primarily 
on scenarios from S&P Global (formerly IHS Markit), IEA, and 
BloombergNEF to plan our business strategy and identify 
company-wide risks and opportunities. These scenarios help 
us, for example, to identify trends in the energy and mobility 
markets. For business planning purposes, we apply different 
scenarios like the S&P Global Green Rules (our baseline 
­scenario), Inflections, and two net zero scenarios (ACCS, MTM); 
and IEA STEPS, APS, NZE, and BloombergNEF New Energy 
Outlook (Economic Transition Scenario, net zero scenario). 
These scenarios help us predict market developments, assess 
the implications of various scenarios, and make business 
decisions on this basis. With a view to our own business, 
analyzing climate-related scenarios allows us to predict the 
potential consequences in terms of regulatory requirements, 
R&D, and customer trends and requirements. Our business 
units also conduct business-specific scenario analyses. 
 CDP 2023 C3.2
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7.4 Task Force on Climate-Related Financial  Disclosures (TCFD)

We also apply different climate scenarios to assess physical 
climate-related risks and opportunities (see paragraph 
­“Management of climate risks in our own operations”). 
Our risk management approach to climate-
related opportunities and risks
Climate-related risks and opportunities are embedded in the 
Siemens-wide ERM approach. All identified climate risks are 
assessed and measures for risk prevention, transfer, or miti-
gation are devised for all relevant risks.
Risk management at Siemens builds on a comprehensive, 
interactive and management-oriented Enterprise Risk Man-
agement (ERM) approach that is integrated into the organi-
zation and that addresses both risks and opportunities. Our 
ERM process aims for early identification and evaluation of, 
and response regarding, risks and opportunities that could 
materially affect the achievement of our strategic, opera-
tional, financial, and compliance objectives. The time horizon 
is typically three years, and we take a net risk approach, 
addressing risks and opportunities remaining after the 
­execution of existing and effective measures and controls. A 
detailed description of our enterprise risk management basic 
principles and process can be found in our combined 
­management report, chapter 8.2 Risk management.
 SIEMENS FINANCIAL REPORT FOR FISCAL 2023, COMBINED MANAGEMENT 
REPORT, CHAPTER 8, 
 CDP 2023 C2
Climate risks in the risk management system
The consideration of sustainability and climate-related risks 
and opportunities is an integral part of our regular top-down 
process that communicates material issues and trends at risk 
workshops to the relevant company units so they can identify 
risks and opportunities. As a result, issue-related recommen-
dations are available to all businesses at their quarterly 
reviews. In fiscal 2023, several climate-related topics were 
on the agenda of the top-down process, which then provided 
input to the annual ERM process on topics that included 
physical climate risks, increasing regulation, and the trans-
parency of environmental product data. 
In conjunction with the bottom-up approach, these measures 
enable a comprehensive overview of our business activities 
and the related risks and opportunities.
Climate change is not treated as a separate category in the 
ERM approach; it is considered within the four topic areas of 
strategic, operational, financial, and compliance-related 
risks. Risk processes have been implemented upstream 
throughout the company to assess potential climate-related 
net risks for ERM reporting. 
Material opportunities and risks are disclosed on an aggre-
gated basis within the abovementioned four topic areas in 
the Siemens annual report.
 SIEMENS FINANCIAL REPORT FOR FISCAL 2023, COMBINED MANAGEMENT 
REPORT, CHAPTER 8, 
 CDP 2023 C2.1 AND C2.2
Management of climate risks in our own operations
Climate change mitigation
We have set ambitious decarbonization targets that apply to 
Siemens’ own operations and to our upstream and down-
stream value chain (see paragraph “Metrics and targets”). 
The reduction of GHG emissions in our own operations is 
integrated into Long-term Incentive (LTI) compensation as 
part of an internal Siemens ESG/Sustainability Index that is 
applicable to members of the Managing Board and senior 
management (Siemens without SHS). Anchoring the reduc-
tion of GHG emissions in this system and the responsibility 
of each of our businesses for reducing its prorated emissions 
are key elements of our management approach and require 
regular monitoring. 
 SUSTAINABILITY GOVERNANCE AND ORGANIZATION
Climate change adaptation
We continuously evaluate the vulnerability of all Siemens 
locations regarding acute physical risks based on assess-
ments provided by external suppliers and data collected 
internally. Through recurrent analyses conducted by Global 
Risk Consultants on behalf of TÜV Süd, it is evident that the 
Siemens locations significantly surpass industry standards in 
terms of risk protection as per the respective insurer ratings 
(industry average: approximately 70, Siemens: approxi-
mately 80). Consequently, Siemens locations are consistently 
characterized by notably low risk levels. We continuously 
conduct local risk assessments and collaborate closely with 
various stakeholders to ensure an adequate protection level. 
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7.4 Task Force on Climate-Related Financial  Disclosures (TCFD)

Furthermore, during this fiscal year, we conducted compre-
hensive global training sessions, featuring the participation 
of qualified external specialists, aimed at strengthening our 
business continuity management and standardizing our 
business impact analysis, particularly in the context of natural 
hazards. These initiatives also consider anticipated changes 
in risk exposures due to climate change.
Our decision-making process for selecting new locations and 
devising sustainable, long-term protective measures is based 
on an exhaustive risk analysis, with a particular emphasis on 
natural hazards. This includes an in-depth examination and 
modeling of current risk factors and future climate scenarios, 
facilitating the formulation of proactive measures. In addi-
tion to the assessment of physical risks, we engage in 
transparent dialogues with partners to comprehensively 
evaluate transitional risks, such as regulatory changes, 
thereby encompassing associated risks and opportunities.
We employ a range of systems and meticulously compare the 
parameters acquired from Swiss RE (RDS), Zurich Resilience 
Solutions (ZRS), Verizon Maplecroft, among others.
In fiscal 2023, we conducted the Do No Significant Harm 
(DNSH) assessment with regards to future physical climate 
risks in the context of our reporting under the EU Taxonomy 
regulation for all activities related to the environmental 
objective “Climate Change Mitigation”. The assessment of 
physical climate-related risks of all eligible and substantially 
contributing activities was conducted by technical experts 
on site, supplier, and project type levels. We partnered with 
insurers and other external risk data providers to assess 
future hazards associated with climate change, e.g. cyclone, 
hurricane, typhoon, heavy precipitation, or wildfire, using 
the IPCC scenario RCP 4.5. Additionally, we defined and 
started to implement measures at locations where signifi-
cant risks have been identified. 
Climate change is also having an impact on water supply. 
Water is one of humanity’s most important resources. For 
this reason, Siemens has been analyzing water scarcity, 
water pollution, local fire risks, climate change, and flooding 
and precipitation patterns at our sites for several years. We 
consider these analyses in our business decisions: for example, 
when we select the location for a new site or implement 
precautionary measures.
We establish water targets at multiple sites to account for 
the specific local environment and to drive effective mitiga-
tion measures. At the corporate level, we have implemented 
a defined water strategy, and have conducted risk assess-
ments to shape local water targets.
The aim of our water strategy is to minimize the adverse 
local effects of our water consumption and use. In fiscal 
2022, we expanded the analysis of our water-related risks to 
include our supply chain. Based on this analysis, we derived 
further measures for sustainable water use.
Our water risk analysis begins with an assessment of our 
environmentally relevant sites using the Aqueduct Water 
Risk Atlas from the World Resources Institute (WRI). With the 
aid of an internal analytical tool, Siemens assesses local-level 
risks resulting from our sites’ activities, and then assesses 
them in relation to regional water risks. Sites with a high-risk 
assessment need to define targets to reduce the level of risk. 
In fiscal 2023, 96% of our sites implemented this water 
strategy.
 CONSERVING RESOURCES, 
 CDP 2023 C2, 
 CDP 2023 WATER SECURITY
Management of climate risks along our value chain
Climate change mitigation
In addition to our Science-Based Target, we defined a target 
in the DEGREE sustainability framework for our upstream 
Scope 3 emissions: Siemens without Siemens Healthineers 
(SHS) has set a target to reduce CO2e emissions generated in 
our supply chain by 20% by 2030 compared to 2020. We also 
aim to achieve Net Zero emissions in our supply chain by 
2050. Details on our upstream Scope 3 emissions in fiscal 
2023 can be found in the chapter 
 SUSTAINABLE SUPPLY CHAIN 
PRACTICES.
In our Carbon Reduction@Suppliers program, we collaborate 
with an external partner to analyze the economic data and 
model the carbon footprint of each of our suppliers. To 
facilitate this process, we utilize a web-based tool called 
supplier+s that highlights the main sources of suppliers’ 
CO2e emissions and provides guidance on how to reduce 
them. Once suppliers have completed the learning phase, 
they provide us with their primary data through the tool.
 CONSERVING RESOURCES, 
 SUSTAINABLE SUPPLY CHAIN PRACTICES
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7.4 Task Force on Climate-Related Financial  Disclosures (TCFD)

To make our portfolio’s contribution to decarbonization 
more transparent, we report the amount of CO2e emissions 
that our products and solutions avoid compared to reference 
solutions. Customer avoided emissions represent the differ-
ence between the CO2e emissions of a Siemens offering and 
the CO2e emissions of a baseline or reference scenario. In 
fiscal 2023, we helped our customers avoid 190 million 
metric tons of CO2e emissions. The Siemens technologies 
that make the largest contribution to the avoidance of CO2e 
emissions at our customers are frequency converters, 
­railbound passenger and freight transportation, and building 
systems. For a detailed description of our methodology 
for calculating customer avoided emissions, please see 
 REPORTING PRINCIPLES FOR CUSTOMER AVOIDED EMISSIONS, 
 CLIMATE 
ACTION
We also invested €6.2 billion (compared to €5.6 billion in 
fiscal 2022) in research and development activities that are 
geared towards developing innovative and sustainable solu-
tions for Siemens’ customers and businesses, while simul­
taneously strengthening our competitive positioning. This is 
also how we contribute to society.  COMPANY PROFILE
Climate change adaptation
We analyze potential risks in our supply chain, including 
environmental risks. We centralize sustainability-related 
data about our suppliers on the SCM Sustainability Platform, 
which enables us to gather information from diverse internal 
and external sources. This includes data on carbon reduction 
initiatives, corporate responsibility self-assessments (CRSA), 
on-site audit results, and risks associated with conflict ­minerals. 
All employees in Siemens' purchasing departments can 
access this integrated tool.
 SUSTAINABLE SUPPLY CHAIN PRACTICES
Metrics and targets
Siemens considers climate-related risks and opportunities 
along the entire value chain. Accordingly, we define metrics 
for reducing greenhouse gas emissions in the supply chain, 
in the company’s own operations, and in the goods and 
services we provide to our customers. 
Our validated 1.5°C Science-Based Target, along with our 
DEGREE decarbonization targets and our membership in the 
RE100, EV100, and EP100 initiatives, is strengthening our 
climate protection strategy.
 CLIMATE ACTION, 
 CDP 2023 C3, C4, C6, C7, C9 AND C12 
Science-Based Target
By joining the Science-Based Targets initiative (SBTi), 
Siemens has pledged to reduce emissions from its own 
operations (Scope 1 and 2) by 50% and its value chain 
(Scope 3) by 15% by 2030 compared to 2019. Our commit-
ment to the SBTi is aimed at aligning our business activities 
with the 1.5°C decarbonization pathway under the terms of 
recognized climate models to ensure that our greenhouse 
gas emissions will be consistent with the Paris Climate 
Agreement’s 1.5°C target.
DEGREE targets
As part of our DEGREE sustainability framework (without 
Siemens Healthineers), we set a goal for all Siemens production 
facilities and buildings worldwide and our vehicle fleet to 
achieve a Net Zero carbon footprint by 2030. In effect, this 
means reducing Scope 1 and 2 CO2e emissions in Siemens’ 
business operations for Siemens without Siemens Healthineers 
(SHS) by 90% by 2030, compared to 2019. To achieve this 
target, Siemens has pledged to invest an additional €650 million 
in its own decarbonization efforts by 2030. Any residual 
emissions will then be balanced with high-quality carbon 
offsets that meet established standards. 
To drive additional transparency on our journey to 2030, we 
set an ambitious interim reduction target for our business 
operations at Siemens without SHS of 55% by 2025 com-
pared to 2019.
For scope 3 emissions, Siemens (without Siemens Healthineers) 
has set a target to reduce CO2e emissions generated in our 
supply chain by 20% by 2030 compared to 2020. We also 
aim to achieve Net Zero emissions in our supply chain by 
2050.
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7.4 Task Force on Climate-Related Financial  Disclosures (TCFD)

Our ambitious decarbonization measures and targets in our 
own operations and along our value chain are helping elim-
inate potential transitional climate risks and increasing our 
resilience and the energy independence of our production 
facilities.
 CLIMATE ACTION, 
 CDP 2023 C4 AND C6
Eco Efficiency @ Siemens program
Our Eco Efficiency @ Siemens program addresses environ-
mental factors specific to our products, systems, solutions, 
and services and our production. It also defines objectives 
for improving our environmental management: for example, 
by encouraging a circular economy and generally demateri-
alizing our business processes.
The program has three components: 
1)	 Robust Eco Design (RED) approach: At the center of the 
Responsible Product Development program component 
is our Robust Eco Design approach. Our Eco Design 
approach is also embedded in the field of action Resource 
efficiency in our DEGREE sustainability framework. The 
program intends to introduce methods and rules for dema-
terialization along the entire value chain. Our aim has 
been to intensify the use of lifecycle assessments (LCAs) 
and environmental product declarations (EPDs), which 
will allow us to identify environmentally compatible 
design alternatives that take circularity into account and 
can be integrated into product specifications. Our ambi-
tion is to apply the RED approach to all relevant products, 
systems, solutions, and services by 2030. This is associ-
ated with our goal to increase the number of LCAs and 
EPDs available. 
2)	 Clean Supply Chain: Building on the RED phase demate-
rialization, the Clean Supply Chain category in the Eco 
Efficiency @ Siemens program maps our path to decou-
pling natural resource use from our economic growth. 
That is why we will increasingly source secondary mate-
rials and take action to replace regulated substances 
according to IEC 62474. We want to proportionately 
increase our procurement of secondary metal and resins 
by 2030. To achieve this, we are concentrating on suppliers 
of raw materials and semifinished products that can be 
directly influenced by our purchasing specifications.
3)	 Efficient Own Operations: The component Efficient Own 
Operations of our Eco Efficiency @ Siemens program 
aims to reduce the environmental impact of our sites 
through dematerialization and circular economy princi-
ples. We focus on improving our energy efficiency and 
reducing the environmental impact of the waste we 
generate. When it comes to environmentally responsible 
energy use, we focus on reducing emissions from power 
generation in addition to minimizing energy consump-
tion itself. As part of our commitment, we aim to improve 
our overall energy efficiency by 10% by 2030 compared 
to 2021. To calculate energy efficiency, we analyze our 
energy consumption in relation to sales development. 
	
 CONSERVING RESOURCES, 
 PRODUCT STEWARDSHIP
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7.4 Task Force on Climate-Related Financial  Disclosures (TCFD)

7.5
GRI Standards – key topics and boundaries
Sustainability topics
SDGs
DEGREE
GRI Standard
Climate action1
 
 
 
 
 D ECARBONIZATION
GRI Standard 305
Emissions
Innovation and business model
 
 
 
 
 
 
 
 
 
 
 D ECARBONIZATION
R ESOURCE EFFICIENCY
 G OVERNANCE
GRI Standard 201
Economic Performance
Cybersecurity and data 
­management
 
 
 
 
 E THICS
Social and ecological ­standards 
in the supply chain
 
 
 
 G OVERNANCE
GRI Standard 414
Supplier Social Assessment
GRI Standard 308
Supplier Environmental
Assessment
Corporate governance and 
sustainability leadership
 
 
 
 G OVERNANCE
GRI Standard 413
Local communities
Partner management and 
collaboration
 
 
 
 
 
 
 
 G OVERNANCE
 D ECARBONIZATION
GRI Standard 203
Indirect Economic Impacts
ESG risk management
 
 
 
 
 
 G OVERNANCE
 E THICS
GRI Standard 201
Economic Performance
Compliance management
 
 
 
 
 
 G OVERNANCE
 E THICS
GRI 2-27
Compliance with laws and regulations
GRI Standard 205
Anti-Corruption
GRI Standard 206
Anti-Competitive Behavior
GRI Standard 408
Child Labor
GRI Standard 409
Forced or Compulsory Labor
Result of the assessment of organizational impacts (inside-out, i.e., on the environment 
and society), stakeholder relevance and business criticality (outside-in).
The detailed GRI Standard Index 2021 is available on our ­Sustainability website.
1	
Top 2 material sustainability topics.
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7.5 GRI Standards – key topics and boundaries

Sustainability topics
SDGs
DEGREE
GRI Standard
Sustainable product design and 
lifecycle management1
 
 
 
 
 
 
 
 R ESOURCE EFFICIENCY
Waste and hazardous substance 
management
 
 
 
 
 R ESOURCE EFFICIENCY
GRI Standard 306 
Waste (2020)
Sustainable handling of  
natural resources and material 
efficiency
 
 
 
 
 
 
 
 
 R ESOURCE EFFICIENCY
GRI Standard 301
Materials
GRI Standard 302
Energy
GRI Standard 303
Water and Effluents (2018)
GRI Standard 306
Waste (2020)
Diversity, equity, and inclusion
 
 
 
 
 
 E QUITY
GRI Standard 405
Diversity and Equal Opportunity
GRI Standard 406
Non-Discrimination
Future of work
 
 
 
 
 
 E QUITY
 E MPLOYABILITY
GRI Standard 401
Employment
GRI Standard 403
Occupational Health and
Safety (2018)
GRI Standard 404
Training and Education
GRI Standard 405
Diversity and Equal Opportunity
GRI Standard 406
Non Discrimination
Employee development
 
 E QUITY
 E MPLOYABILITY
GRI Standard 404
Training and Education
Employee health and safety
 
 
 
 E MPLOYABILITY
GRI Standard 403
Occupational Health and
Safety (2018)
Result of the assessment of organizational impacts (inside-out, i.e., on the environment 
and society), stakeholder relevance and business criticality (outside-in).
The detailed GRI Standard Index 2021 is available on our Sustainability website.
1	
Top 2 material sustainability topics.
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7.5 GRI Standards – key topics and boundaries

7.6
WEF IBC Metric
Pillars
Theme
Core metrics 
Reference
Omission
Principles
of Gover­
nance
Governing 
purpose
Setting purpose 
The company’s stated purpose, as the expression of the means by 
which a business proposes solutions to economic, environmental 
and social issues. Corporate purpose should create value for all 
stakeholders, including shareholders.
Sustainability Report 2023
Siemens at a glance 
p. 7 ff
 
Quality of 
governing 
body
Governance body composition 
Composition of the highest governance body and its committees by:  
competencies relating to economic, environmental and social 
topics;  
executive or non-executive;  
independence;  
tenure on the governance body;  
number of each individual’s other significant positions and 
­commitments, and the nature of the commitments;  
gender;  
membership of under-represented social groups; 
stakeholder representation.
Annual Financial Report 2023
Annual Financial Report
Annual Financial Statement
3. Notes: 31 Members of the 
Managing Board and Supervisory 
Board p. 131 f
 WWW.SIEMENS.COM/ 
GLOBAL/EN/COMPANY/ABOUT/
LEADERSHIP/MANAGEMENT.HTML 
 WWW.SIEMENS.COM/ 
GLOBAL/EN/COMPANY/ABOUT/
LEADERSHIP/SUPERVISORYBOARD/
COMMITTEES.HTML
 
Stakeholder 
engagement
Material issues impacting stakeholders 
A list of the topics that are material to key stakeholders and  
the company, how the topics were identified and how the 
­stakeholders were engaged.
Sustainability Report 2023
Materiality assessment
p. 21 ff
 
Ethical 
behaviour
Anti-corruption 
1. Total percentage of governance body members, employees 
and business partners who have received training on the  
organization’s anti-corruption policies and procedures, broken 
down by region.
	 a) Total number and nature of incidents of corruption confirmed 
during the current year, but related to previous years; and
	
b) Total number and nature of incidents of corruption 
­confirmed during the current year, related to this year.
2. Discussion of initiatives and stakeholder engagement to 
improve the broader operating environment and culture, in 
order to combat corruption.
Sustainability Report 2023
Compliance and Ethics p. 32 ff
Our sustainability indicators  
p. 106 ff
 
Protected ethics advice and reporting mechanisms 
A description of internal and external mechanisms for: 
1. Seeking advice about ethical and lawful behaviour and  
organizational integrity; 
2. Reporting concerns about unethical or unlawful behaviour  
and lack of organizational integrity.
Sustainability Report 2023
Compliance and Ethics p. 32 ff 
Our sustainability indicators  
p. 106 ff
 
Risk and 
opportunity 
oversight
Integrating risk and opportunity into business process 
Company risk factor and opportunity disclosures that clearly 
­identify the principal material risks and opportunities facing the 
company specifically (as opposed to generic sector risks), the 
company appetite in respect of these risks, how these risks and 
opportunities have moved over time and the response to those 
changes. These opportunities and risks should integrate material 
economic, environmental and social issues, including climate 
change and data stewardship.
Annual Financial Report 2023
Combined Management Report 8.
Report on expected develop-
ments and associated material 
opportunities and risks p. 23 ff
 
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7.6 WEF IBC Metric

Pillars
Theme
Core metrics 
Reference
Omission
Planet
Climate 
change
Greenhouse gas (GHG) emissions 
For all relevant greenhouse gases (e.g. carbon dioxide, methane, 
nitrous oxide, F-gases etc.), report in metric tonnes of carbon 
dioxide equivalent (tCO2e) GHG Protocol Scope 1 and Scope 2 
emissions. 
Estimate and report material upstream and downstream 
(GHG Protocol Scope 3) emissions where appropriate
Sustainability Report 2023
Climate action p. 58 ff
Conserving resources p. 65 ff
Our sustainability indicators 
p. 106 ff
TCFD implementation
Fully implement the recommendations of the Task Force on  
Climate-related Financial Disclosures (TCFD). If necessary, disclose 
a timeline of at most three years for full implementation. 
Disclose whether you have set, or have committed to set, GHG 
emissions targets that are in line with the goals of the Paris 
Agreement – to limit global warming to well below 2°C above 
preindustrial levels and pursue efforts to limit warming to 1.5°C – 
and to achieve Net-Zero emissions before 2050.
Sustainability Report 2023
Task Force on Climate-Related 
Financial Disclosures
(TCFD) p. 136 ff
Nature loss
Land use and ecological sensitivity
Report the number and area (in hectares) of sites owned, leased 
or managed in or adjacent to protected areas and/or key biodiversity 
areas (KBA)
Sustainability Report 2023
Conserving resources p. 65 ff 
Our sustainability indicators 
p. 110 ff
Freshwater 
availability
Water consumption and withdrawal in water stressed 
areas
Report for operations where material: megalitres of water with-
drawn, megalitres of water consumed and the percentage of each 
in regions with high or extremely high baseline water stress, 
according to WRI Aqueduct water risk atlas tool.
Estimate and report the same information for the full value chain 
(upstream and downstream) where appropriate.
Sustainability Report 2023
Conserving resources p. 74 ff
Our sustainability indicators 
p. 106 ff
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7.6 WEF IBC Metric

Pillars
Theme
Core metrics 
Reference
Omission
People
Dignity and 
equality
Diversity and inclusion (%)
Percentage of employees per employee category, by age group, 
gender and other indicators of diversity (e.g. ethnicity).
Sustainability Report 2023
Diversity, Equity & Inclusion  
p. 89 ff
Our sustainability indicators 
p. 106 ff
Pay equality (%)
Ratio of the basic salary and remuneration for each employee 
­category by significant locations of operation for priority areas of 
equality: women to men, minor to major ethnic groups, and other 
relevant equality areas.
Sustainability Report 2023
Working at Siemens 
p. 82 ff
Our sustainability indicators 
p. 106 ff
Siemens pursues 
the principle of 
performance-­
related compen-
sation – regardless 
of gender. 
Remuneration 
data is regarded 
confidential and 
is therefore not 
reported.
Wage level (%)
Ratios of standard entry level wage by gender compared to local 
minimum wage.
Ratio of the annual total compensation of the CEO to the median 
of the annual total compensation of all its employees, except the 
CEO.
Siemens pursues 
the principle of 
performance-­
related compen-
sation – regardless 
of gender.  
Remuneration 
data is regarded 
confidential and  
is therefore not  
reported.
Risk for incidents of child, forced or compulsory labour
An explanation of the operations and suppliers considered to 
have significant risk for incidents of child labour, forced or 
­compulsory labour. Such risks could emerge in relation to:
a) type of operation (such as manufacturing plant) and type of 
supplier; and
b) countries or geographic areas with operations and suppliers 
considered at risk.
Sustainability Report 2023
Human Rights p. 40 ff
Sustainable supply chain
practice p. 44 ff
Business Conduct Guidelines:
 HTTPS://ASSETS.NEW. 
SIEMENS.COM/SIEMENS/ASSETS/
API/UUID:5C242542-E991-4B97-
AF63-090AD509BE74/SAG-
BCG-EN.PDF
Health and 
well-being
Health and safety (%)
The number and rate of fatalities as a result of work-related 
injury;
high-consequence work-related injuries (excluding fatalities);
recordable work-related injuries; main types of work-related 
injury;
and the number of hours worked.
An explanation of how the organization facilitates workers’ access 
to non-occupational medical and healthcare services, and the 
scope of access provided for employees and workers.
Sustainability Report 2023
Occupational health and safety 
management
p. 97 ff
Our sustainability indicators 
p. 106 ff
Skills for the 
future
Training provided (#, $)
Average hours of training per person that the organization’s 
employees have undertaken during the reporting period, by gender 
and employee category (total number of hours of training 
­provided to employees divided by the number of employees).
Average training and development expenditure per full time 
employee (total cost of training provided to employees divided by 
the number of employees).
Sustainability Report 2023
Professional education and life-
long learning p. 93 ff
Our sustainability indicators 
p. 106 ff.
SIEMENS SUSTAINABILITY REPORT 2023 
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7.6 WEF IBC Metric

Pillars
Theme
Core metrics 
Reference
Omission
Prosperity Employment 
and wealth 
generation
Absolute number and rate of employment
1. Total number and rate of new employee hires during the 
reporting period, by age group, gender, other indicators of 
­diversity and region.
2. Total number and rate of employee turnover during the 
­reporting period, by age group, gender, other indicators of 
diversity and region.
Sustainability Report 2023
Professional education and 
­lifelong learning p. 93 ff
Our sustainability indicators 
p. 106 ff
Economic contribution
1. Direct economic value generated and distributed (EVG&D), 
on an accruals basis, covering the basic components for the 
­organization’s global operations, ideally split out by:
– Revenues
– Operating costs
– Employee wages and benefits
– Payments to providers of capital
– Payments to government
– Community investment
2. Financial assistance received from the government: total mon-
etary value of financial assistance received by the organization 
from any government during the reporting period.
Siemens Annual Financial Report 
2023
Consolidated Financial
Statements p. 46 ff
Financial investment contribution
1. Total capital expenditures (CapEx) minus depreciation, supported 
by narrative to describe the company’s investment strategy.
2. Share buybacks plus dividend payments, supported by narrative 
to describe the company’s strategy for returns of capital to 
shareholders.
Annual Financial Report 2023
Consolidated Financial State-
ments 6. Note 19 Equity p. 70
Annual Financial Statements 3. 
Note 15 Shareholder’s Equity 
p. 124 f
Innovation  
of better 
products and 
services
Total R&D expenses
Total costs related to research and development
Sustainability Report
2023
Company profile p. 10 ff
Community 
and social 
vitality
Total tax paid
The total global tax borne by the company, including corporate 
income taxes, property taxes, non-creditable VAT and other sales 
taxes, employer-paid payroll taxes, and other taxes that constitute 
costs to the company, by category of taxes.
Annual Financial Report 2023
Consolidated Financial State-
ments 6. Note 2 Material 
accounting policies and critical 
accounting estimates p. 51 ff
Note 7 Income Taxes p. 58 f
Annual Financial Statements 3. 
Note 13 Deferred tax assets 
p. 123
SIEMENS SUSTAINABILITY REPORT 2023 
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7.6 WEF IBC Metric

7.7
SASB – Electrical Electronic Equipment Index
Topic
Codified 
metric code Disclosure 
Reference
Omission
Energy 
­Management
RT-EE-130a.1
(1) Total energy consumed
Sustainability Report 2023:
Environment – Conserving resources, 
p. 65 ff (Energy used reduced), 
Our sustainability indicators, p. 106 ff
 
RT-EE-130a.1
(2) Percentage grid electricity
RT-EE-130a.1
(3) Percentage renewable
Hazardous 
Waste 
­Management
RT-EE-150a.1
Amount of hazardous waste 
generated, percentage recycled
Sustainability Report 2023:
Environment – Conserving resources, 
p. 65 ff, (Efficient Waste management),
Our sustainability indictors, p. 106 ff
RT-EE-150a.2
Number and aggregate quantity 
of reportable spills, quantity 
recovered
Sustainability Report 2023:
Environment – Conserving resources, 
p. 65 ff, (Incident relevant to the 
­environment),
Our sustainability indictors, p. 106 ff
Product 
Safety
RT-EE-250a.1
Number of recalls issued, total 
units recalled
not applicable
Siemens has established a comprehen-
sive, company-wide product safety 
­system to ensure that our products 
comply with applicable legal safety 
requirements and meet the latest tech-
nical safety standards so that they do 
not pose a threat to the life or health 
of users or other third parties. Under 
this system, all company units are 
required to ensure that their products 
comply with the state of the art in 
safety matters. The units are also 
obliged to conduct systematic product 
monitoring and take the necessary 
­corrective actions to remedy potential 
product safety deficiencies.
RT-EE-250a.2
Total amount of monetary losses 
as a result of legal proceedings 
associated with product safety
Annual Financial Report 2023
Consolidated Financial Statements 6. 
Notes 22 Legal proceedings, p. 71 f
SIEMENS SUSTAINABILITY REPORT 2023 
150
7.7 SASB – Electrical Electronic Equipment Index

Topic
Codified 
metric code Disclosure 
Reference
Omission
Product 
­Lifecycle 
Management
RT-EE-410a.1
Percentage of products by 
­revenue that contain IEC 62474 
declarable substances
Sustainability Report 2023:
Environment – Product stewardship 
p. 71 ff
Our sustainability indicators, p. 106 ff
RT-EE-410a.2
Percentage of eligible products 
by revenue that meet ENERGY 
STAR criteria
not applicable
RT-EE-410a.3
Revenue from renewable energy-­
related and energy efficiency-­
related products
Sustainability Report 2023:
Environment – Climate action,  
p. 58 ff,
EU Taxonomy, p. 76 ff 
Our sustainability indicators, p. 106 ff
Materials 
Sourcing
RT-EE-440a.1
Description of the management 
of risks associated with the use 
of critical materials
Sustainability Report 2023:
Environment – Product stewardship, 
p. 71 ff (Risk-conscious handling of 
declarable substances),
Sustainable supply chain practices, 
p. 44 ff (Responsibility for the world-
wide supplier network)
Business  
Ethics
RT-EE-510a.1
Description of policies and 
­practices for prevention of:
(1) corruption and bribery and
(2) anti-competitive behavior
Sustainability Report 2023:
Compliance and ethics, p. 32 ff
RT-EE-510a.2
Total amount of monetary losses 
as a result of legal proceedings 
associated with incidents relating 
to bribery or corruption
Annual Financial Report 2023:
Consolidated Financial Statements 6. 
Notes 22 Legal proceedings, p. 71 f
Sustainability Report 2023:
Compliance and ethics, p. 32 ff
RT-EE-510a.3
Total amount of monetary losses 
as a result of legal proceedings 
associated with anti-competitive 
behavior regulations
Annual Financial Report 2023:
Consolidated Financial Statements 6. 
Notes 22 Legal proceedings, p. 71 f
Sustainability Report 2023:
Compliance and ethics, p. 32 ff
Activity  
Metric
RT-EE-000.A
Number of units produced by 
product category
not applicable
RT-EE-000.B
Number of employees
Sustainability Report 2023 
Working at Siemens p. 82 ff
Our sustainability indicators, p. 106 ff
SIEMENS SUSTAINABILITY REPORT 2023 
151
7.7 SASB – Electrical Electronic Equipment Index

7.8
United Nations CEO Water Mandate
Progress report
Siemens became a signatory to the United Nations CEO 
Water Mandate in 2008. We are continuing to support the 
Mandate in two ways: by managing water efficiently at our 
own facilities and by providing solutions that help our 
­customers handle water and wastewater more efficiently.
Our own activities
We are continuing to implement the approach to water 
resource management that we developed in 2012. This 
includes monitoring factors like water scarcity, water pollution, 
flooding, environmental fire risks, and consequences of climate 
change as well as performing site-specific risk analyses. 
Individual goals and measures are defined for locations with 
high water-related risks. This approach minimizes the 
site-specific adverse impacts of our water consumption by 
taking into account local risks like water scarcity, water 
­pollution, and flooding in environmentally sensitive areas. 
You can find out more about conserving resources and water 
consumption at Siemens’ locations in the 
 ENVIRONMENT 
­section of this report.
We use resources carefully. For example, Siemens India has 
implemented sustainable water management by applying 
various measures, including utilizing water-efficient appli-
ances, installing rainwater harvesting system at four major 
factory locations, and building water reclamation facilities 
(zero liquid discharge facilities) that enable us to reduce 
freshwater consumption and use treated water for landscaping 
and toilet flushing.
Our supply chain partners 
The environmental protection requirements for our supply 
chain partners are set out in the Siemens Group Code of 
Conduct for Siemens Suppliers and Third Party Intermediaries. 
More information on these requirements and on supply 
chain management is available in the 
 SUSTAINABLE SUPPLY 
CHAIN PRACTICES section of this report.
Our customers
We support our customers with water management solu-
tions, including the following.
Leak detection
Non-revenue water not only impacts the economic perfor-
mance of water supply companies; it also increases pressure 
on natural water resources, because more water is produced 
and processed than is actually needed. Thanks to our techno-
logical innovations, Siemens can detect leaks with the help 
of AI. Leaks in the pipeline network were responsible for 
about 10% of the water supplied by the Swedish water 
company VA SYD that never reached consumers. With SIWA 
LeakPlus, VA SYD now relies on artificial intelligence (AI) to 
detect and repair leaks in its water distribution networks.
Virtual process control system 
Thanks to implementing cutting-edge process control tech-
nology at the waste management company EGLV (Emscher 
Genossenschaft & Lippe Verband), the customer was able 
not only to save operational costs but also to contribute to 
the renaturation of the Emscher and Lippe River basins 
through sustainable wastewater management.
Partnerships to reduce water loss
In line with our pledge to be an agile and active market 
leader, we go beyond traditional distributorships and 
increasingly rely on collaborations in a variety of areas. 
We’ve signed collaboration agreements with component 
manufacturers like Hach Analytics and with global players 
like Acciona (desalination) and young entrepreneurs like 
BuntPlanet (digital portfolio). This is how our company and 
our partners will be able to meet our customers’ require-
ments and offer them a comprehensive, innovative product 
and system portfolio, a local presence worldwide, and our 
usual high quality while also remaining cost-effective.
SIEMENS SUSTAINABILITY REPORT 2023 
152
7.8 United Nations CEO Water Mandate

Social commitment 
Through our memberships in international organizations, we 
participate in numerous initiatives and projects like the 
water project on the Action 2020 platform of the World 
Business Council for Sustainable Development. We initiate, 
implement, and support projects that foster efficient water 
use in various regions of the world. The Siemens Stiftung, 
Siemens’ nonprofit foundation in Germany, employs an 
entrepreneurial approach to supplying communities with 
clean drinking water. One example is described below.
The WeTu social enterprise in Kenya
The WeTu social enterprise founded by Siemens Stiftung 
works on innovative solutions for supplying energy and 
drinking water to communities in Western Kenya near Lake 
Victoria. Its WeWater unit operates 13 water dispensing 
stations at various locations that supply the surrounding 
rural communities with safe, filtered drinking water at 
­economical prices.
In a multistage process, surface water is processed through 
various prefilters, an ultra-filtration membrane, and finally 
UV disinfection. Drinking water is dispensed around the 
clock by way of a cashless ATM system. This approach supplies 
more than 3 million liters of drinking water to 16,000 people. 
A variety of social marketing measures also alert customers 
about how contamination can occur in home use and how 
contaminated drinking water affects health.
You can find out more about Siemens Stiftung projects at: 
 WWW.SIEMENS-STIFTUNG.ORG/PROJECTS/WETU/
SIEMENS SUSTAINABILITY REPORT 2023 
153
7.8 United Nations CEO Water Mandate

7.9
Independent auditor’s report on a limited 
assurance engagement
TO SIEMENS AKTIENGESELLSCHAFT, BERLIN AND 
MUNICH 
We have performed a limited assurance engagement on the 
Sustainability Report of Siemens Aktiengesellschaft, Berlin 
and Munich (hereafter the “Company”), for the reporting 
period from October 1, 2022 to September 30, 2023 (here-
after the “report”).
Our engagement exclusively relates to the English PDF-version 
of the report. Our engagement did not include the foreword 
and the information in the Annex to the report as well as any 
prospective disclosures and links to other web pages. The 
report is published as a PDF-version at 
 WWW.SIEMENS.COM/
INVESTOR/EN.
RESPONSIBILITIES OF MANAGEMENT 
The Company’s management is responsible for the prepara-
tion of the report in accordance with the Sustainability 
Reporting Standards of the Global Reporting Initiative (here-
after the “GRI criteria”) and for the selection of the informa-
tion to be assessed.
These responsibilities of the Company’s management include 
the selection and application of appropriate sustainability 
reporting methods and making assumptions and estimates 
about individual sustainability disclosures that are reasonable 
in the circumstances. Furthermore, management is respon-
sible for such internal control as management considers 
necessary to enable the preparation of a report that is free 
from material misstatement, whether due to fraud (manipu-
lation of the report) or error.
INDEPENDENCE AND QUALITY ASSURANCE OF 
THE AUDIT FIRM
We have complied with the German professional requirements 
on independence as well as other professional conduct 
requirements.
Our audit firm applies the national legal requirements and 
professional pronouncements – in particular the BS WP/vBP 
[“Berufssatzung für Wirtschaftsprüfer/vereidigte Buchprüfer”: 
Professional Charter for German Public Accountants/German 
Sworn Auditors] in the exercise of their Profession and the 
IDW Standard on Quality Management issued by the Institute 
of Public Auditors in Germany (IDW): Requirements for Quality 
Management in the Audit Firm (IDW QS 1) and accordingly 
maintains a comprehensive quality management system 
that includes documented policies and procedures with 
regard to compliance with professional ethical requirements, 
professional standards as well as relevant statutory and 
other legal requirements.
RESPONSIBILITIES OF THE AUDITOR
Our responsibility is to express a conclusion with limited 
assurance on the report based on our assurance engagement.
We conducted our assurance engagement in accordance 
with the International Standard on Assurance Engagements 
(ISAE) 3000 (Revised): “Assurance Engagements other than 
Audits or Reviews of Historical Financial Information” issued 
by the International Auditing and Assurance Standards Board 
(IAASB). This standard requires that we plan and perform the 
assurance engagement to obtain limited assurance about 
whether any matters have come to our attention that cause 
us to believe that the Company’s report is not prepared, in all 
material respects, in accordance with the GRI criteria.
SIEMENS SUSTAINABILITY REPORT 2023 
154
7.9 Independent auditor’s report on a limited  assurance engagement

In a limited assurance engagement, the procedures per-
formed are less extensive than in a reasonable assurance 
engagement, and accordingly, a substantially lower level of 
assurance is obtained. The selection of the assurance proce-
dures is subject to the professional judgment of the auditor.
In the course of our assurance engagement we have, among 
other things, performed the following assurance procedures 
and other activities:
→	Inquiries of employees and inspection of documents 
concerning the sustainability strategy, sustainability 
principles and sustainability management including the 
stakeholder dialog of Siemens AG,
→	Inquiries of management and relevant employees 
involved in the preparation of the report about the prepa-
ration process, about the internal control system related 
to this process, and about disclosures in the report,
→	Inquiries of employees responsible for data capture and 
consolidation, about the data capture and compilation 
methods as well as internal controls to the extent relevant 
for the assurance of the disclosures in the report,
→	Identification of likely risks of material misstatement in 
the report,
→	Analytical procedures on selected disclosures in the report 
at Group level and at the level of the Industrial Businesses,
→	Inquiries and inspection of documents relating to the 
collection and reporting of selected data at Group level, at 
the level of the Industrial Businesses and at selected sites,
→	Inquiries of employees on material qualitative statements 
in the report as well as the inspection of selected under-
lying documents,
→	Reconciliation of selected disclosures with the corre-
sponding data in the consolidated financial statements 
and group management report,
→	Evaluation of the presentation of the report.
ASSURANCE CONCLUSION 
Based on the assurance procedures performed and the 
­evidence obtained, nothing has come to our attention that 
causes us to believe that the Sustainability Report of Siemens 
Aktiengesellschaft for the period from October 1, 2022 to 
September 30, 2023 is not prepared, in all material respects, 
in accordance with the GRI criteria.
RESTRICTION OF USE
We draw attention to the fact that the assurance engage-
ment was conducted for the Company’s purposes and that 
the assurance report is intended solely to inform the Com-
pany about the result of the assurance engagement. As a 
result, it may not be suitable for another purpose than the 
aforementioned. Accordingly, the assurance report is not 
intended to be used by third parties for making (financial) 
decisions based on it. Our responsibility is to the Company 
alone. We do not accept any responsibility to third parties. 
Our assurance conclusion is not modified in this respect. 
GENERAL ENGAGEMENT TERMS AND LIABILITY
The “General Engagement Terms for Wirtschaftsprüfer and 
Wirtschaftsprüfungsgesellschaften [German Public Auditors 
and Public Audit Firms]” dated January 1, 2017 are applica-
ble to this engagement and also govern our relations with 
third parties in the context of this engagement (
 WWW.DE.EY.
COM/GENERAL-ENGAGEMENT-TERMS). In addition, please refer to 
the liability provisions contained there in no. 9 and to the 
exclusion of liability towards third parties. We accept no 
responsibility, liability or other obligations towards third 
parties unless we have concluded a written agreement to the 
contrary with the respective third party or liability cannot 
effectively be precluded.
We make express reference to the fact that we will not 
update the assurance report to reflect events or circum-
stances arising after it was issued, unless required to do so 
by law. It is the sole responsibility of anyone taking note of 
the summarized result of our work contained in this report 
to decide whether and in what way this information is useful 
or suitable for their purposes and to supplement, verify or 
update it by means of their own review procedures.
Munich, December 4, 2023
Ernst & Young GmbH  
Wirtschaftsprüfungsgesellschaft 
Keller	
Johne  
Wirtschaftsprüfer	
Wirtschaftsprüferin 
(German Public Auditor) 	
(German Public Auditor)
SIEMENS SUSTAINABILITY REPORT 2023 
155
7.9 Independent auditor’s report on a limited  assurance engagement

7.10
Notes and forward-looking statements
This document contains statements related to our future 
business and financial performance and future events or 
developments involving Siemens that may constitute forward-­
looking statements. These statements may be identified by 
words such as “expect,” “look forward to,” “anticipate,” 
“intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project”, 
or words of similar meaning. We may also make forward-­
looking statements in other reports, in prospectuses, in 
presentations, in material delivered to shareholders, and in 
press releases. In addition, our representatives may from 
time to time make oral forward-looking statements.
Such statements are based on the current expectations and 
certain assumptions of Siemens’ management; many of 
them are therefore beyond Siemens’ control. These are subject 
to a number of risks, uncertainties, and factors, including, 
but not limited to those described in disclosures, in particular 
in the chapter Report on risks and opportunities, and including 
reports on expected development of the Annual Report. 
Should one or more of these risks or uncertainties materialize, 
events of force majeure, such as pandemics, occur, or should 
underlying expectations including future events occur at a 
later date or not at all or assumptions prove incorrect, actual 
results, performance, or achievements of Siemens may 
(negatively or positively) vary materially from those 
described explicitly or implicitly in the relevant forward-looking 
statement “Notes and forward-looking statements” in the 
SIEMENS SUSTAINABILITY REPORT 2023. Siemens neither 
intends nor assumes any obligation to update or revise these 
forward-looking statements in light of developments which 
differ from those anticipated.
This document includes – in the applicable financial reporting 
framework not clearly defined – supplemental financial 
measures that are or may be alternative performance mea-
sures. These supplemental financial measures should not be 
viewed in isolation or as alternatives to measures of Siemens’ 
net assets and financial positions or results of operations as 
presented in accordance with the applicable financial 
reporting framework in its Consolidated Financial Statements. 
Other companies that report or describe similarly titled alter-
native performance measures may calculate them differently.
SIEMENS SUSTAINABILITY REPORT 2023 
156
7.10 Notes and forward-looking statements

7.11
Further information and information 
resources
Additional information
The online version of the Siemens annual financial report 
2023 is available at: 
 WWW.SIEMENS.COM/ANNUALREPORTS
Further sustainability information
Further information on our commitment to sustainability and  
sustainability figures are available at: 
 WWW.SIEMENS.COM/GLOBAL/EN/COMPANY/SUSTAINABILITY.HTML 
 WWW.SIEMENS.COM/GLOBAL/EN/COMPANY/SUSTAINABILITY/ 
SUSTAINABILITY-FIGURES.HTML
Further information on research, development, and innovation 
at Siemens is available at: 
 WWW.SIEMENS.COM/GLOBAL/EN/COMPANY/INNOVATION.HTML
Further information on Siemens Stiftung is available at: 
 WWW.SIEMENS-STIFTUNG.ORG/EN/
© 2023 by Siemens AG, Berlin and Munich
SIEMENS SUSTAINABILITY REPORT 2023 
157
7.11 Further information and information  resources

Address	
Siemens AG 
Werner-von-Siemens-Str. 1 
80333 Munich 
Germany
Internet	
WWW.SIEMENS.COM
Phone 	
+49 89 636-33443 (Media Relations) 
+49 89 636-32474 (Investor Relations)
Fax 	
+49 89 636-30085 (Media Relations) 
+49 89 636-1332474 (Investor Relations)
Email 	
press@siemens.com 
investorrelations@siemens.com
© 2023 by Siemens AG, Berlin and Munich