ABB Releases its 2023 Integrated Report Highlighting Significant Progress in Sustainable Development

ABB Ltd has announced the release of its integrated report for the year 2023 on February 23, 2024. This report details the strategy, financial and environmental performance, with a focus on the significant reduction of the company's greenhouse gas (GHG) emissions.

In 2023, ABB reduced its scope 1 and 2 GHG emissions by 76% compared to 2019 and limited the increase of its scope 3 emissions to 11% compared to the previous year, following a stringent scenario. These advancements are essential in the company's strategy to reduce its scope 1 and 2 emissions by 80% by 2030 compared to 2019 and to decrease its scope 3 emissions by 25% by 2030 compared to 2022.

The report also reveals that the products sold by ABB in 2023 will help avoid 74 megatonnes of CO2 emissions over their lifetime, contributing to the company's goal of assisting its customers in avoiding 600 megatonnes of GHG emissions from 2022 to 2030. Furthermore, ABB has furthered its sustainable development efforts by reducing its energy consumption by 21% compared to 2019 and increasing the share of renewable energy sources in its energy consumption.

This report illustrates ABB's commitment to sustainable energy transition and its contribution to achieving GHG emission reduction goals, reaffirming its position as a technological leader in the fields of electrification and automation.