Carnot Efficient Energy

Performance (in CHF, indexed) since 01.01.2010

Carnot Efficient Energy

STOXX 600 TR

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Client Segment

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Strategy

The Carnot Efficient Energy Fund is an impact investment fund pursuant to Article 9 of the SFDR. It engages in listed European companies with energy-saving products and technologies. The selection follows a quality approach seeking well established companies with a solid balance sheet and a high return on capital employed (ROCE).

Investing in Energy efficiency has great growth perspectives. Not only is it the most environmentally friendly contribution to the energy transition, it also increases energy independence and saves costs.

Target sectors

Energy efficiency starts where the energy is needed: In buildings, in industry and in the transport sector.

01 Building technology

The building stock accounts for no less than 40% of energy consumption. The renovation market will therefore grow strongly on the way to climate neutrality. Attractive product segments include:

  • Heat pumps
  • Intelligent ventilation
  • Smart building technology
  • Engineering
02 Industry

Industrial processes often run around the clock and consume correspondingly large amounts of energy. Therefore, energy-saving technologies often amortize within a short time. We like:

  • Industry 4.0 (controllers, software, sensors)
  • Smart grid (management, power storage)
  • Power generation technology
  • Hydrogen infrastructure
03 Transport

One third of energy consumption is accounted for by the transport of goods and people. Here, too, clean technologies are enforced. The following topics offer interesting investments:

  • Lightweight technology
  • E-mobility
  • Rail transport

Interactive Impact Heatmap Click on numbers to see company name
Click on squares to see impact analysis

SDG
1
 
Belimo Logo

Belimo is a global manufacturer of actuators for valves and flaps in heating, ventilation, and air conditioning systems.

SWITZERLAND
CH0001503199

CEO
Lars van der Haegen

Revenue
CHF 765m

ROCE
34%

Source: Bloomberg, Carnot Capital

2
 
Sika Logo

Sika provides products for bonding, sealing, damping, reinforcing, and protecting in buildings and vehicles. It offers solutions for concrete, waterproofing, cement additives, rigid bonding, joint sealing, and tunneling and mining.

SWITZERLAND
CH0418792922

CEO
Thomas Hasler

Revenue
CHF 9'167m

ROCE
21%

Source: Bloomberg, Carnot Capital

3
 
Geberit Logo

Geberit manufactures sanitary products and systems for the residential and industrial construction industry, such as installation systems, cisterns, faucets and flushing systems, waste fittings and traps. The firm also sells piping systems such as building drainage and supply systems.

SWITZERLAND
CH0030170408

CEO
Christian Buhl

Revenue
CHF 3'436m

ROCE
33%

Source: Bloomberg, Carnot Capital

4
 
Somfy Logo

Somfy SA provides automatic control of openings and closures in homes and buildings, awnings, blinds, facades, garage doors, security grilles, shutters, and other related services. Somfy serves customers worldwide.

FRANCE
NL0006237562

CEO
Pierre Ribeiro

Revenue
EUR 1'478m

ROCE
50%

Source: Bloomberg, Carnot Capital

5
 
Kone Logo

Kone OYJ provides solutions for the installation, maintenance, and modernization of elevators and escalators and the maintenance of automatic building doors.

FINLAND
FI0009013403

CEO
Henrik Ehrnrooth

Revenue
EUR 10'491m

ROCE
50%

Source: Bloomberg, Carnot Capital

6
 
Bravida Logo

Bravida Holding AB provides installation service for heating and plumbing, and HVAC in buildings and plants. Bravida Holding serves customers in Sweden, Norway, and Denmark.

SWEDEN
SE0007491303

CEO
Mattias Johansson

Revenue
SEK 21'645m

ROCE
50%

Source: Bloomberg, Carnot Capital

7
 
Instalco Logo

Instalco AB provides installation and maintenance of plumbing, electrical, heating, cooling, and ventilation systems. Intalco serves customers in Sweden.

SWEDEN
SE0009664253

CEO
Per Sjöstrand

Revenue
SEK 8'746m

ROCE
48%

Source: Bloomberg, Carnot Capital

8
 
Inwido Logo

Inwido AB supplies wood-based windows and doors. The Company manufactures environmentally-friendly products for consumers, manufacturers of prefabricated homes, and building companies. Inwido operates in the Nordic countries and in the UK.

SWEDEN
SE0006220018

CEO
Henrik Hjalmarsson

Revenue
SEK 7'557m

ROCE
>50%

Source: Bloomberg, Carnot Capital

9
 
Nibe Logo

NIBE Industrier AB is an international heating technology company and provides heat pumps, boiler and water heaters, electrical heating elements as well as freestanding fireplaces.

SWEDEN
SE0008321293

CEO
Gerteric Lindquist

Revenue
SEK 30'793m

ROCE
40%

Source: Bloomberg, Carnot Capital

10
 
Hubbell Logo

Hubbell Incorporated manufactures electrical and electronic products for commercial, industrial, utility, and telecommunications markets. The Company's products include plugs, receptacles, connectors, lighting fixtures, high voltage test and measurement equipment, and voice and data signal processing components. Hubbell operates in the United States and overseas.

USA
US4435106079

CEO
Gerben W. Bakker

Revenue
USD 4'706m

ROCE
50%

Source: Bloomberg, Carnot Capital

11
 
ABB Logo

ABB Limited provides power and automation technologies including power products, power systems, automation products, process automation, and robotics.

SWITZERLAND
CH0012221716

CEO
Björn Rosengren

Revenue
CHF 26'521m

ROCE
29%

Source: Bloomberg, Carnot Capital

12
 
Friedrich Vorwerk Logo

Friedrich Vorwerk operates as an energy company. The company provides energy transportation and transformation infrastructure for the gas, electricity, and hydrogen markets, mainly in Germany.

GERMANY
DE000A255F11

CEO
Torben Kleinfeldt

Revenue
EUR 279m

ROCE
24%

Source: Bloomberg, Carnot Capital

13
 
Energiekontor Logo

Energiekontor develops and operates wind and solar energy projects in Germany, UK, France, Portugal and USA.

SWEDEN
SE0007158910

CEO
Ole Kristian Jødahl

Revenue
SEK 3'701m

ROCE
8%

Source: Bloomberg, Carnot Capital

14
 
Schneider Electric Logo

Schneider Electric SE manufactures electrical power products. The Company offers car chargers, home security goods, light switches, access control, sensors, valves, circuit breakers, cables, accessories, signaling devices, fuse, motor starters, and voltage transformers.

FRANCE
FR0000121972

CEO
Jean-Pascal Tricoire

Revenue
EUR 28'749m

ROCE
26%

Source: Bloomberg, Carnot Capital

15
 
Andritz Logo

Andritz supplies plants, equipment, and services for hydropower stations, for the pulp and paper, metalworking, steel, and solid and liquid separation industry, worldwide.

AUSTRIA
AT0000730007

CEO
Joachim Schönbeck

Revenue
EUR 6'483m

ROCE
50%

Source: Bloomberg, Carnot Capital

16
 
AFRY Logo

Afry provides engineering, designing and consulting services in energy, industry, and infrastructure sectors, mainly in Scandinavia and in Switzerland.

SWEDEN
SE0005999836

CEO
Jonas Gustavsson

Revenue
SEK 19'979m

ROCE
43%

Source: Bloomberg, Carnot Capital

17
 
Sandvik Logo

Sandvik AB is a high-technology engineering group. The Company develops, manufactures, and markets tools for metalworking applications, machinery and tools for rock excavation, stainless steel products, special alloys, and resistance heating materials and process systems. Sandvik markets to industrial companies throughout the world.

SWEDEN
SE0000667891

CEO
Stefan Widing

Revenue
SEK 97'328m

ROCE
17%

Source: Bloomberg, Carnot Capital

18
 
Hexagon Logo

Hexagon AB is a global provider of design, measurement and visualisation technologies. The main business area, Measurement Technologies, includes three application areas: Geosystems, Metrology and Technology, that provide systems to design, measure and position objects, and process and present data.

SWEDEN
SE0000103699

CEO
Ola Rollen

Revenue
SEK 45'353m

ROCE
41%

Source: Bloomberg, Carnot Capital

19
 
Vestas Logo

Vestas Wind Systems A/S provides wind turbines that generate electricity. The Company installs and maintains turbines. Vestas Wind Systems serves customers worldwide.

DENMARK
DK0010268606

CEO
Henrik Andersen

Revenue
DKK 118'855m

ROCE
0%

Source: Bloomberg, Carnot Capital

20
 
Chart Industries Logo

Chart Industries provides actuators, systems and related products to the valve industry. The main business operations are: Process Control, Electric, Fluid Systems and Gears. Chart Industries operates worldwide.

USA
US16115Q3083

CEO
Jillian Evanko

Revenue
USD 1'312m

ROCE
50%

Source: Bloomberg, Carnot Capital

21
 
EMS Logo

Ems-Chemie Holding AG manufactures performance polymers, high-grade chemical intermediates, fine chemicals, and protective bonding, coating and sealing products. The Company supplies its products to the automotive, transportation, and textile industries.

SWITZERLAND
CH0016440353

CEO
Magdalena Martullo-Blocher

Revenue
CHF 2'222m

ROCE
>50%

Source: Bloomberg, Carnot Capital

22
 
Stadler Logo

Stadler Rail AG engineers and manufactures trains. The Company offers suburban and regional transport trains, light rail vehicles, trams, and locomotives. Stadler Rail serves customers worldwide.

SWITZERLAND
CH0002178181

CEO
Peter Spuhler

Revenue
CHF 3'702m

ROCE
16%

Source: Bloomberg, Carnot Capital

23
 
Logo_LEM

Lem Holding SA produces transducers and sensors which measure high voltage currents, variable speed drives, uninterrupted power supplies, and testers for semiconductors. Lem's components are used in locomotives, trams, trolleys, and the French TGV high-speed trains. The Company sells its products globally.

SWITZERLAND
CH0022427626

CEO
Frank Rehfeld

Revenue
CHF 293m

ROCE
50%

Source: Bloomberg, Carnot Capital

24
 
Knorr Bremse Logo

Knorr-Bremse Aktiengesellschaft produces braking systems for rail and commercial vehicles. The Company provides entrance, windscreen wipers, driver assistance, and power supply systems, as well as platform screen doors and torsional vibration dampers. Knorr-Bremse serves customers worldwide.

GERMANY
DE000KBX1006

CEO
Frank Markus Weber

Revenue
EUR 6'698m

ROCE
-3%

Source: Bloomberg, Carnot Capital

25
 
Norma Group Logo

Norma Group SE provides plastic and metal-based connectors for cooling system, air intake and induction, emission control, ancillary system and infrastructure.

GERMANY
DE000A1H8BV3

CEO
Michael Schneider

Revenue
EUR 1'082m

ROCE
-2%

Source: Bloomberg, Carnot Capital

26
 
Concentric Logo

Concentric AB manufactures hydraulic products and diesel engine pumps. The Company markets its products to manufacturers of trucks, agricultural equipment, industrial vehicles and off-road machinery.

SWEDEN
SE0003950864

CEO
David Woolley

Revenue
SEK 2'118m

ROCE
10%

Source: Bloomberg, Carnot Capital

27
 
Melexis Logo

Melexis NV designs and manufactures advanced integrated semiconductors, sensor ICs, and programmable sensor IC systems that meet the requirements of the automotive industry. Headquartered in Belgium, the Company has locations in France, Germany, Switzerland, Bulgaria, Ukraine, and the United States.

BELGIUM
BE0165385973

CEO
Marc Biron

Revenue
EUR 641m

ROCE
43%

Source: Bloomberg, Carnot Capital

28
 
Cummins Logo

Cummins manufactures diesel and natural gas engines for trucks, ships and electric power generators.

USA
US2310211063

CEO
Jennifer Rumsey

Revenue
USD 23'890m

ROCE
28%

Source: Bloomberg, Carnot Capital

E-WEB-Goal-07 1 Affordable and
clean energy
 
 

Affordable and clean energy Significant Impact

Strategy

"Innovative solutions for more comfort, energy efficiency and security."

Products

- Ventilation air flap actuators with sensor (60% electricity saving): regulates air inflow according to room occupancy
- Energy valve with sensors (30%): For flow optimization in heating/cooling systems
- Throttle valves (20%): Combined valve and drive without electric supply
Over 6 mn actuators solved p.a.

Share of company sales generating positive impact: 80%

Research and development expenditure: 7.4%

Other aspects & engagement

Belimo is respected as innovation leader in a key are of Energy Efficiency.
Health: Belimo products improve the air quality in big cities because the enable great savings in electricity which is typically provided by coal power plants.

Successful Engagement to manage, measure and document CO2 abatement of Belimo products; completed in sustainability report.
We brought a smart metering specialist to Belimo for an exploration of ways how to generate billable energy data with the Belimo Energy Valve; completed with the generation IV, released in June 2021.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

With its newly defined sustainability targets for the reduction of energy and water consumption, as well as waste, Sika will be minimizing its need for resources and the environmental impacts of the production process. Sika’s overriding goal is to reduce CO2 emissions per ton sold by 12% by 2023.
As a global company, Sika is committed to sustainable development. The company honors its responsibilities by offering sustainable solutions for energy-efficient construction and innovative vehicles.

Products

- Cement admixtures for low water consumption
  - for the use of recycled cement
  - for a lower need of cement in concretes
- Combined wood cement structures
- Sikaklastik roof membranes with high sun reflection
- Sealing products for lower vehicle weight
  - for wind and PV sites

Share of company sales generating positive impact: 25%

Research and development expenditure: 2.5%

Other aspects & engagement

Stringent management of sustainability targets such as CO2, waste, water etc. Proprietary SDG impact analysis. Signatory of the UN Global Compact.

We encouraged the company to disclose the positve impacts of Sika products and to calculate reduction of greenhouse gas reduction.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"For Geberit, sustainability means being oriented towards the future and being successful over the long term. A long-term orientation results when a balance is struck between economic, environmental and social aspects in all decision-making processes."

Products

- Toilet flushing system with srongly reduced water consumption
- Urinal system with different operating modes, saving water and energy
- 'Supertube technology' leads to substantial material savings

Share of company sales generating positive impact: 50%

Research and development expenditure: approx. 2.5%

Other aspects & engagement

Signatory of the UN Global Compact since 2008. Active contribution to 4 SDGs, very detailed progress reporting.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"Somfy creates innovative solutions for homes and buildings in three areas:
1. Comfort and well-being at any age
2. Security of people and property
3. Energy savings"

Products

- Automated shading (sunlight protection): Increases the use of shutters and blades by the factor of 20. Automation lowers energy consumption of lighting, heating and cooling. The motorization and automation is an important element of the smart building concept.
- Intelligent, wireless addressable heating valves
- Intelligent, wireless addressable light switches

Share of company sales generating positive impact: 90%

Research and development expenditure: 8%

Other aspects & engagement

Somfy aims at climate protection over three paths: Lowering emissioins in manufacturing, develop products with lower energy consumption, develop products that enable lower energy consumption of lighting/heating/coooling.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"Innovations and Resource Efficiency: Innovations have an important role in tackling issues like social progress and climate change. Increasing resource efficiency is among our top priorities and we always work to do things in smarter ways."

Products

- Elevators and escaltors that consume up to 80% less energy than 15 years ago.
- Highly efficient driveless EcoDisc motor with frequency converter
- Energy recuperation in downward movement
- Extra-light Ultra Rope for very high buildings
- Remote service and optimization (less trafic, optimal operational efficiency)
- Modernization solutions for improved energy efficiency

Share of company sales generating positive impact: 70%

Research and development expenditure: 1.8%

Other aspects & engagement

Leadership score A in CDP's Global A List. Very comprehensive sustainability management inc. supply chain, ISO 14001 implemented. SBTI commitment and set targets for 1.5 degrees.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"Bravida aims to operate a responsible business and ensure efficient management of its own and others’ resources. This includes the environmental, economic and social factors relating to our business. We take focused measures to achieve clear results."

Products

Bravida's installation business contributes to the infrastructure of buildings, and thereby has a significant impact on the use of resources in the long term. Main areas for improvement:
- Improve energy efficiency through smart buildings
- Increase employee safety and health

Share of company sales generating positive impact: >50%

Research and development expenditure: < 1%
(innovation happens more on building material and on planning level)

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"For Instalco, sustainability means running operations responsibly and applying a holistic approach to the economic, environmental and social aspects. Our aim is to help benefit society on a daily basis through our local presence and our technical, efficient solutions in all of our areas of expertises."

Products

Instalco's installation business contributes to the infrastructure of buildings, and thereby has a significant impact on the use of resources in the long term. Main areas for improvement:
- Improve energy efficiency through smart buildings
- Safe and modern work environment

Share of company sales generating positive impact: 70%

Research and development expenditure: < 1%
(innovation happens more on building material and on planning level)

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"Managing and developing the strongest companies that improve people’s lives indoors with solutions for comfort, climate and safety, inspires employees and generates value for shareholders."

Products

Inwido is Europe's leading window group, with activities mainly in Scandinavia. Its products improve indoor climate and reduce energy consumption through:
- High quality windows (mainly wood frames)
- Decrease climate impact from own operations and suppliers
- Reuse and recycle materials

Share of company sales generating positive impact: 90%

Research and development expenditure: 1-2%
(innovation partially in glas production)

Other aspects & engagement

- "Inwido's objective is for zero accidents to occur in ist operations."
- "Inwido targets having an even gender distribution in the Group Management Team and on the Board of Directors."

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Significant Impact

Strategy

"The NIBE Group contributes to lower carbon dioxide emissions and better energy efficiency. In our three business areas - Climate Solutions, Element and Stoves - we develop, manufacture and market a wide range of environmentally friendly and energy-efficient solutions."

Products

- Heatpumps: 80% of the heat is sourced from the environment, i.e. from the soil or from the air.
- Heat exchangers for heating and cooling circuits
- Electric resistors for wind turbines that permit short interruptions

Share of company sales generating positive impact: 72%

Research and development expenditure: 2.9%

Other aspects & engagement

Nibe is the undisputed market leader in the European and North American heat pump market. Heat pumps are kind of a "killer application" in the fighting the over 30% of CO2 emissions caused by buildings.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"Across our Company, we remain focused on embedding sustainability into our overall business strategy. We pride ourselves on delivering products and solutions that make critical infrastructure operate efficiently, safely, reliably, and sustainably."

Products

- Grid technology for renewables
- Presence detectors
- Wireless controls and switches
- Advanced metering for power, water and gas

Share of company sales generating positive impact: approx. 30%

Research and development expenditure: 3%

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Significant Impact

Strategy

"With our 2030 sustainability strategy, we are actively enabling a low-carbon society as well as working with our customers and suppliers to implement sustainable practices across our value chain and the lifecycle of our products and solutions."

"We are dedicated to continuous improvement with respect to our products and services by seeking, among other things, to reduce emissions."

Products

- Buildings: Intelligent monitoring and control of energy use (smart building)
- Electricity: Grid technology, substations, grid management, grid connection of wind parks
- Industry: Highly efficient and intelligent electric motor drives, frequency converters, robots, industry automation (industry 4.0)
- Transport: Charging infrastructure, electricyty supply for rail vehicles

Share of company sales generating positive impact: >70%

Research and development expenditure: 4.3%

Other aspects & engagement

Explicit targets: CO2 neutrality, saving of 100 mn tonnes CO2 throuh ABB technology by 2030, engagement with suppliers for lower carbon footprint. Committed in the Science Based Targets Initiative.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"We are a driver of the European energy transition with innovative and reliable solutions for the energy infrastructure of tomorrow."

Products

- Infrastructure created so that the green hydrogen can reach the consumers.
- CO2-neutral gas pressure regulating and metering systems: Reduction of energy consumption, as Vorwerk technology does not require the combustion of gas.
- Plant construction for biogas processing: Reduction of resource consumption through reuse of organic waste materials.

Share of company sales generating positive impact: 10%

Research and development expenditure: 2%

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Significant Impact

Strategy

"As a pioneer of the energy transition, we want to realize our vision of 100% renewable energy."

Products

- Project planning and sale of wind and solar parks
- Power generation in Group-owned wind and solar parks
- Operational development and innovation (optimization of operational value creation)

Share of company sales generating positive impact: 100%

Research and development expenditure: 1.9%

(Calculation of R&D expenses: 100% personnel expenses of "Operational Development and Innovation" segment (rotor blade extension, efficiency improvement), plus 10% personnel expenses in project development business)

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"Sustainability is at the heart of our strategy: Our mission is to help businesses meet their energy challenge -keep global warming below the 2°C limit- while achieving better operational efficiency."

Products

- EcoStruxure technology platform: IoT systems for real-time data measurement, communication, analysis and control.
- Medium voltage technology for the integration of local power grids (power sourcing and delivery), EV charging stations
- Cooling of data centres: hardware, software
- Frequency converters for electric motors, controllers

Share of company sales generating positive impact: >70%

Research and development expenditure: 2.8%

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"Research & development: At ANDRITZ, sustainability stands above all for solutions that help customers to achieve their sustainability goals and make use of resources as economically and efficiently as possible. Research and development work thus also concentrates to a large extent on developing products of this kind."

Products

- Hydroturbines as alternatives to fossil power stations
- Boilers for biomass and waste
- Wool pellet fabrication
- Exhaust gas scrubbers
- Biogas production, pyrolysis
- Sludge drying for incineration
- Presses for composite material sheets (carbon)

Share of company sales generating positive impact: 60%
(45% related to renewable energy)

Research and development expenditure: 3%

Other aspects & engagement

Andritz has a very high share of sales in developing and emerging countries. The company brings technology and energy generating equipment that contributes to a environmental friendly growth.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Considerable Impact

Strategy

"Sustainability is part of AFRY’s business strategy and a prerequisite for AFRY’s business as a whole. We connect technologies to create sustainable progress for you."

Products

AFRY contributes to creating a sustainable society by finding new solutions which are efficient and resource saving. AFRY's projects create value for clients, society and shareholders. Prioritised aspects of sustainability are:
- Develop its service offering towards impact
- Create impact and local community level

Share of company sales generating positive impact: >60%

Research and development expenditure: 20%

(a substantial share of AFRY's activity is part of r&d expenditure on the client's side)

Other aspects & engagement

Signatory to SBTI and Net-Zero. AFRY helps companies become sustainable using, among other things, environmental impact quantification models.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"We will deliver on our commitments to reduce our impact on the climate. We are committed to changing mindsets and outcomes in our own business, among our customers and our suppliers to achieve our targets.
Our goal: to halve our carbon footprint."

"Our products should contribute as much as possible to reducing the environmental impact of customer processes, and they should also be recyclable."

Products

- Metal for supercritical water gasification
- Metals for solar thermal power production
- Additive manufacturing technology and materials
- Drilling technology for highly productive mining (hard- and software)
- Battery-electric mining loaders and transporters
- Light-weight titanium materials for airplanes
- Process technology for fuel cells

Share of company sales generating positive impact: 60%

Research and development expenditure: 3.7%

Other aspects & engagement

Large activities in mining, which is fundamentally a critical industry and where a lot of negative impact is also generated. This is precisely why sustainability is a central pillar of the strategy. Sandvik belongs to various sustainability indices and is a member of the UN Global Compact.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Considerable Impact

Strategy

"Hexagon's technologies are shaping urban and production ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future."

Products

- Sensors (incl. cameras, laser)
- Monitoring equipment
- Precision positioning
- Metrology systems
- Software (CAD, CAM, CAE)

Share of company sales generating positive impact: >70%

Research and development expenditure: 12%

Other aspects & engagement

Hexagon has activities in the defence market. The activities amount to less than 5% of business. We have started a dialogue with the company with the aim to reduce these activities over time.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Significant Impact

Strategy

"We remain focused on developing solutions that accelerate the energy transition and strengthen Vestas’ continued leadership in wind."

"Our goals are carbon neutrality by 2030 without carbon offsets, zero waste turbines by 2040."

Products

On-shore and off-shore wind turbines.
"A single Vestas wind turbine will generate around 25 to 50 times more energy than it uses in its entire lifecycle and return this back to society. And, a single Vestas wind turbine only emits around one percent of carbon dioxide when compared to a coal power plant."

Share of company sales generating positive impact: 100%

Research and development expenditure: 2.3%

Other aspects & engagement

Signatory of the SBTI for 1.5 degrees and committed to zero carbon emissions.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"Chart aims to be a leading supplier of technologies, equipment and services in the fields of liquefied natural gas, hydrogen, biogas and CO2 capture, and thus a pioneer of the energy transition."

Products

- Air-cooled heat exchangers: unused heat is put to good use, resulting in increased energy efficiency and reduced raw material consumption.
- Carbon capture, utilization & storage: reduces carbon emissions from fossil fuel-fired power plants by 95-99%.
- Hydrogen as a safe, clean and affordable alternative to fossil fuels: Hydrogen liquefaction plants, transport solutions & refueling stations.
- Biogas liquefaction plant: can be used at source for power generation, refueling of natural gas vehicles and bunkers

Share of company sales generating positive impact: 30%

Research and development expenditure: 0.8%

Other aspects & engagement

Chart Industries has a sound sustainability strategy and assesses impacts of its business against the SDGs.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

The strategy supports the reduction of energy use.
Strategy: development of market leading high-performance polymers.
"In the High Performance Polymer sector we develop, manufacture and market high-performance engineering plastics for demanding technical applications."
These products lead to a substantial weight reduction in vehicles and thus to lower fuel consumption.

Products

- High-performance polymers with very high rigidity and temperature resistence that replace metal and reduce the weight of these compoenents by up to 2/3. Lower weight means less fuel consumption.
- Castor oil derivatives, a fully renewable resource, and are therefore originated from a non food crop

Share of company sales generating positive impact: 35%

Research and development expenditure: 2.5%

Other aspects & engagement

CO2 neutrality achieved in 2020.
Heat and power procured from Switzerland's biggest biomass power plant.
Almost no employee layoffs during automotive down-cycles.
Employer and instructor of refugees in Switzerland.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

Stadler Rail's strategy is to develop and produce innovatove rail vehicles.
It's growth strategy helps expand the energy-efficient rail transport.
Part of the strategy is to reduce energy consumption of the vehicles: "The company works tirelessly to improve the energy efficiency of its products in operation."

Products

- Components and vehicles for rail transport
- Innovative concepts such as battery and fuel cell powered locomotives

Share of company sales generating positive impact: 100%

Research and development expenditure: 2%

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Significant Impact

Strategy

"We promote the development and dissemination of environmentally friendly technologies."

Products

- Transducers for variable speed motors
   - for electric rail vehicles
   - for inverters in wind and solar power stations
   - for electric cars

Share of company sales generating positive impact: 80%

Research and development expenditure: 9.1%

Other aspects & engagement

Lem is a global technology leader in a key technology in the electrification process.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Significant Impact

Strategy

"In our Group-wide HSE Policy we commit to minimizing or preventing harm to people and the environment arising from our processes, services and products.
One focus of our commitment to the environment is climate protection.
Knorr-Bremse concentrates most of its climate protection activities in the areas of products, logistics and energy."

Products

- Rail vehicles, for which Knorr-Bremse is a key supplier, are a very energy efficient transport means.
- Brakes with better performance allow higher speeds and longer trains, which increases the rail capacity.
- Real-time system to measure and optimize the energy consumption.
- Breaking and security systems for driverless trains.
- Brakes that can be remanufactured (award winning innovation), service for remanufacturing (29% of service revenue)

Share of company sales generating positive impact: 70%

Research and development expenditure: 5.7%

Other aspects & engagement

Knorr-Bremse uses detailed Eco-design guidelines to minimize the footprint of the products.
They reach from strategic planning to innovation and product design.
50% reduction of greenhouse gas emissions until 2030, procurement of renewable energy from 2021 on.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Considerable Impact

Strategy

"Climate change and scarcity of resources ar global megatrends which form the basis for Norma Groups's business model."

Products

Lightweight connectors and other fluid management components for
   - the thermal management of batteries in electric vehicles
   - the thermal management of charging sockets and charging stations
   - the thermal management of fuel cells
Water saving irrigation systems

Share of company sales generating positive impact: 60%

Research and development expenditure: 4.7%

Other aspects & engagement

Norma has a very comprehensive sustainability management and reporting system.
The products are essential for electromobility as well as for low-loss water infrastructure.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Low Impact

Strategy

"We aim to increase fuel economy, reduce emissions and improve engine control through our technical solutions and precision engineering."
'The Group's environmental activities shall be integrated in all operations and shall be the subject of continuous improvement through the Concentric Business Excellence programme."

Products

- Energy-efficient oil pumps for on-highway trucks and heavy off-highway vehicles
- Optimized hydraulic pumps for agricultural and construction vehicles
- Electric coolant pumps for hybrid vehicles
- Coolant pumps for stationary batteries

Share of company sales generating positive impact: 90%

Research and development expenditure: 2.5%

Other aspects & engagement

Engagement-Call held for more determined development towards electrified commercial vehicles with electric pumps, cooperations, acquisitions.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"The Melexis strategy is to step up our presence in hybridization and electrification applications. We aim to grow in other markets, particularly in alternative mobility and in health, medical, computing, data center, telecom infrastructure and robotics applications.
Our strategy is set against several global megatrends. One key trend is an increasing and ageing population. Another is that the world, while it must find a way to meet growing demand, also needs to continue the fight against climate change and seek solutions for both CO2 and power consumption reduction."

Products

- High-temperature sensors for motors and exhaust systems in down-sized motors; saves ca. 15% fuel consumption
- Sensors for electric steering, replacing hydraulic steering
- Battery management sensors for electric vehicles
- Sensors for variable speed ventilators; saves ca. 40% electricity

Share of company sales generating positive impact: 40%

Research and development expenditure: 15.3%

Other aspects & engagement

Melexis follows the Global Reporting Initiatiative (GRI) reporting standards. The CEO and CFO positions are held by women.

We discussed potential conflicts of interests in the shareholder and supplier structure. The answers were satisfactory.
We requested a strict and transparent management of these conflicts of interest.

Source: Extract from Carnot impact analysis

 
 

Affordable and clean energy Substantial Impact

Strategy

"Cummins' next generation environmental sustainability strategy looks out to 2050, setting quantifiable goals for 2030.
Reduce scope 3 absolute lifetime GHG emissions from newly sold products by 25%.
Partner with customers to reduce scope 3 GHG emissions from products in the field by 55 million metric tons."

Products

- Buildings: Intelligent monitoring and control of energy use (smart building)
- Electricity: Grid technology, substations, grid management, grid connection of wind parks
- Industry: Highly efficient and intelligent electric motor drives, frequency converters, robots, industry automation (industry 4.0)
- Transport: Charging infrastructure, electricyty supply for rail vehicles

Share of company sales generating positive impact: 20%

Research and development expenditure: 3.7%

Other aspects & engagement

Cummins is a market leader in heavy vehicle powertrains and is investing heavily to drive the transition to clean technologies.

Source: Extract from Carnot impact analysis

SDG 8 Decent work and
economic growth
 
 

Decent work and economic growth Considerable Impact

Strategy

"Innovative solutions for more comfort, energy efficiency and security."

Products

- Ventilation air flap actuators with sensor (60% electricity saving): regulates air inflow according to room occupancy
- Energy valve with sensors (30%): For flow optimization in heating/cooling systems
- Throttle valves (20%): Combined valve and drive without electric supply
Over 6 mn actuators solved p.a.

Share of company sales generating positive impact: 80%

Research and development expenditure: 7.4%

Other aspects & engagement

Belimo is respected as innovation leader in a key are of Energy Efficiency.
Health: Belimo products improve the air quality in big cities because the enable great savings in electricity which is typically provided by coal power plants.

Successful Engagement to manage, measure and document CO2 abatement of Belimo products; completed in sustainability report.
We brought a smart metering specialist to Belimo for an exploration of ways how to generate billable energy data with the Belimo Energy Valve; completed with the generation IV, released in June 2021.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

With its newly defined sustainability targets for the reduction of energy and water consumption, as well as waste, Sika will be minimizing its need for resources and the environmental impacts of the production process. Sika’s overriding goal is to reduce CO2 emissions per ton sold by 12% by 2023.
As a global company, Sika is committed to sustainable development. The company honors its responsibilities by offering sustainable solutions for energy-efficient construction and innovative vehicles.

Products

- Cement admixtures for low water consumption
  - for the use of recycled cement
  - for a lower need of cement in concretes
- Combined wood cement structures
- Sikaklastik roof membranes with high sun reflection
- Sealing products for lower vehicle weight
  - for wind and PV sites

Share of company sales generating positive impact: 25%

Research and development expenditure: 2.5%

Other aspects & engagement

Stringent management of sustainability targets such as CO2, waste, water etc. Proprietary SDG impact analysis. Signatory of the UN Global Compact.

We encouraged the company to disclose the positve impacts of Sika products and to calculate reduction of greenhouse gas reduction.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Considerable Impact

Strategy

"For Geberit, sustainability means being oriented towards the future and being successful over the long term. A long-term orientation results when a balance is struck between economic, environmental and social aspects in all decision-making processes."

Products

- Toilet flushing system with srongly reduced water consumption
- Urinal system with different operating modes, saving water and energy
- 'Supertube technology' leads to substantial material savings

Share of company sales generating positive impact: 50%

Research and development expenditure: approx. 2.5%

Other aspects & engagement

Signatory of the UN Global Compact since 2008. Active contribution to 4 SDGs, very detailed progress reporting.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"Somfy creates innovative solutions for homes and buildings in three areas:
1. Comfort and well-being at any age
2. Security of people and property
3. Energy savings"

Products

- Automated shading (sunlight protection): Increases the use of shutters and blades by the factor of 20. Automation lowers energy consumption of lighting, heating and cooling. The motorization and automation is an important element of the smart building concept.
- Intelligent, wireless addressable heating valves
- Intelligent, wireless addressable light switches

Share of company sales generating positive impact: 90%

Research and development expenditure: 8%

Other aspects & engagement

Somfy aims at climate protection over three paths: Lowering emissioins in manufacturing, develop products with lower energy consumption, develop products that enable lower energy consumption of lighting/heating/coooling.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Substantial Impact

Strategy

"Innovations and Resource Efficiency: Innovations have an important role in tackling issues like social progress and climate change. Increasing resource efficiency is among our top priorities and we always work to do things in smarter ways." Sustainability website

Products

- Elevators and escaltors that consume up to 80% less energy than 15 years ago.
- Highly efficient driveless EcoDisc motor with frequency converter
- Energy recuperation in downward movement
- Extra-light Ultra Rope for very high buildings
- Remote service and optimization (less trafic, optimal operational efficiency)
- Modernization solutions for improved energy efficiency

Share of company sales generating positive impact: 70%

Research and development expenditure: 1.8%

Other aspects & engagement

Leadership score A in CDP's Global A List. Very comprehensive sustainability management inc. supply chain, ISO 14001 implemented. SBTI commitment and set targets for 1.5 degrees.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"Bravida aims to operate a responsible business and ensure efficient management of its own and others’ resources. This includes the environmental, economic and social factors relating to our business. We take focused measures to achieve clear results." 

Products

Bravida's installation business contributes to the infrastructure of buildings, and thereby has a significant impact on the use of resources in the long term. Main areas for improvement:
- Improve energy efficiency through smart buildings
- Increase employee safety and health

Share of company sales generating positive impact: >50%

Research and development expenditure: < 1%
(innovation happens more on building material and on planning level)

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"For Instalco, sustainability means running operations responsibly and applying a holistic approach to the economic, environmental and social aspects. Our aim is to help benefit society on a daily basis through our local presence and our technical, efficient solutions in all of our areas of expertises."

Products

Instalco's installation business contributes to the infrastructure of buildings, and thereby has a significant impact on the use of resources in the long term. Main areas for improvement:
- Improve energy efficiency through smart buildings
- Safe and modern work environment

Share of company sales generating positive impact: 70%

Research and development expenditure: < 1%
(innovation happens more on building material and on planning level)

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"Managing and developing the strongest companies that improve people’s lives indoors with solutions for comfort, climate and safety, inspires employees and generates value for shareholders."

Products

Inwido is Europe's leading window group, with activities mainly in Scandinavia. Its products improve indoor climate and reduce energy consumption through:
- High quality windows (mainly wood frames)
- Decrease climate impact from own operations and suppliers
- Reuse and recycle materials

Share of company sales generating positive impact: 90%

Research and development expenditure: 1-2%
(innovation partially in glas production)

Other aspects & engagement

- "Inwido's objective is for zero accidents to occur in ist operations."
- "Inwido targets having an even gender distribution in the Group Management Team and on the Board of Directors."

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Substantial Impact

Strategy

"The NIBE Group contributes to lower carbon dioxide emissions and better energy efficiency. In our three business areas - Climate Solutions, Element and Stoves - we develop, manufacture and market a wide range of environmentally friendly and energy-efficient solutions."

Products

- Heatpumps: 80% of the heat is sourced from the environment, i.e. from the soil or from the air.
- Heat exchangers for heating and cooling circuits
- Electric resistors for wind turbines that permit short interruptions

Share of company sales generating positive impact: 72%

Research and development expenditure: 2.9%

Other aspects & engagement

Nibe is the undisputed market leader in the European and North American heat pump market. Heat pumps are kind of a "killer application" in the fighting the over 30% of CO2 emissions caused by buildings.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"Across our Company, we remain focused on embedding sustainability into our overall business strategy. We pride ourselves on delivering products and solutions that make critical infrastructure operate efficiently, safely, reliably, and sustainably."

Products

- Grid technology for renewables
- Presence detectors
- Wireless controls and switches
- Advanced metering for power, water and gas

Share of company sales generating positive impact: approx. 30%

Research and development expenditure: 3%

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Substantial Impact

Strategy

"With our 2030 sustainability strategy, we are actively enabling a low-carbon society as well as working with our customers and suppliers to implement sustainable practices across our value chain and the lifecycle of our products and solutions."

"We are dedicated to continuous improvement with respect to our products and services by seeking, among other things, to reduce emissions."

Products

- Buildings: Intelligent monitoring and control of energy use (smart building)
- Electricity: Grid technology, substations, grid management, grid connection of wind parks
- Industry: Highly efficient and intelligent electric motor drives, frequency converters, robots, industry automation (industry 4.0)
- Transport: Charging infrastructure, electricyty supply for rail vehicles

Share of company sales generating positive impact: >70%

Research and development expenditure: 4.3%

Other aspects & engagement

Explicit targets: CO2 neutrality, saving of 100 mn tonnes CO2 throuh ABB technology by 2030, engagement with suppliers for lower carbon footprint. Committed in the Science Based Targets Initiative.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"We are a driver of the European energy transition with innovative and reliable solutions for the energy infrastructure of tomorrow."

Products

- Infrastructure created so that the green hydrogen can reach the consumers.
- CO2-neutral gas pressure regulating and metering systems: Reduction of energy consumption, as Vorwerk technology does not require the combustion of gas.
- Plant construction for biogas processing: Reduction of resource consumption through reuse of organic waste materials.

Share of company sales generating positive impact: 10%

Research and development expenditure: 2%

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"As a pioneer of the energy transition, we want to realize our vision of 100% renewable energy."

Products

- Project planning and sale of wind and solar parks
- Power generation in Group-owned wind and solar parks
- Operational development and innovation (optimization of operational value creation)

Share of company sales generating positive impact: 100%

Research and development expenditure: 1.9%

(Calculation of R&D expenses: 100% personnel expenses of "Operational Development and Innovation" segment (rotor blade extension, efficiency improvement), plus 10% personnel expenses in project development business)

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Considerable Impact

Strategy

"Sustainability is at the heart of our strategy: Our mission is to help businesses meet their energy challenge -keep global warming below the 2°C limit- while achieving better operational efficiency."

Products

- EcoStruxure technology platform: IoT systems for real-time data measurement, communication, analysis and control.
- Medium voltage technology for the integration of local power grids (power sourcing and delivery), EV charging stations
- Cooling of data centres: hardware, software
- Frequency converters for electric motors, controllers

Share of company sales generating positive impact: >70%

Research and development expenditure: 2.8%

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Substantial Impact

Strategy

"Research & development: At ANDRITZ, sustainability stands above all for solutions that help customers to achieve their sustainability goals and make use of resources as economically and efficiently as possible. Research and development work thus also concentrates to a large extent on developing products of this kind."

Products

- Hydroturbines as alternatives to fossil power stations
- Boilers for biomass and waste
- Wool pellet fabrication
- Exhaust gas scrubbers
- Biogas production, pyrolysis
- Sludge drying for incineration
- Presses for composite material sheets (carbon)

Share of company sales generating positive impact: 60%
(45% related to renewable energy)

Research and development expenditure: 3%

Other aspects & engagement

Andritz has a very high share of sales in developing and emerging countries. The company brings technology and energy generating equipment that contributes to a environmental friendly growth.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"Sustainability is part of AFRY’s business strategy and a prerequisite for AFRY’s business as a whole. We connect technologies to create sustainable progress for you."

Products

AFRY contributes to creating a sustainable society by finding new solutions which are efficient and resource saving. AFRY's projects create value for clients, society and shareholders. Prioritised aspects of sustainability are:
- Develop its service offering towards impact
- Create impact and local community level

Share of company sales generating positive impact: >60%

Research and development expenditure: 20%

(a substantial share of AFRY's activity is part of r&d expenditure on the client's side)

Other aspects & engagement

Signatory to SBTI and Net-Zero. AFRY helps companies become sustainable using, among other things, environmental impact quantification models.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"We will deliver on our commitments to reduce our impact on the climate. We are committed to changing mindsets and outcomes in our own business, among our customers and our suppliers to achieve our targets.
Our goal: to halve our carbon footprint."

"Our products should contribute as much as possible to reducing the environmental impact of customer processes, and they should also be recyclable."

Products

- Metal for supercritical water gasification
- Metals for solar thermal power production
- Additive manufacturing technology and materials
- Drilling technology for highly productive mining (hard- and software)
- Battery-electric mining loaders and transporters
- Light-weight titanium materials for airplanes
- Process technology for fuel cells

Share of company sales generating positive impact: 60%

Research and development expenditure: 3.7%

Other aspects & engagement

Large activities in mining, which is fundamentally a critical industry and where a lot of negative impact is also generated. This is precisely why sustainability is a central pillar of the strategy. Sandvik belongs to various sustainability indices and is a member of the UN Global Compact.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"Hexagon's technologies are shaping urban and production ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future."

Products

- Sensors (incl. cameras, laser)
- Monitoring equipment
- Precision positioning
- Metrology systems
- Software (CAD, CAM, CAE)

Share of company sales generating positive impact: >70%

Research and development expenditure: 12%

Other aspects & engagement

Hexagon has activities in the defence market. The activities amount to less than 5% of business. We have started a dialogue with the company with the aim to reduce these activities over time.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"We remain focused on developing solutions that accelerate the energy transition and strengthen Vestas’ continued leadership in wind."

"Our goals are carbon neutrality by 2030 without carbon offsets, zero waste turbines by 2040."

Products

On-shore and off-shore wind turbines.
"A single Vestas wind turbine will generate around 25 to 50 times more energy than it uses in its entire lifecycle and return this back to society. And, a single Vestas wind turbine only emits around one percent of carbon dioxide when compared to a coal power plant."

Share of company sales generating positive impact: 100%

Research and development expenditure: 2.3%

Other aspects & engagement

Signatory of the SBTI for 1.5 degrees and committed to zero carbon emissions.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"Chart aims to be a leading supplier of technologies, equipment and services in the fields of liquefied natural gas, hydrogen, biogas and CO2 capture, and thus a pioneer of the energy transition."

Products

- Air-cooled heat exchangers: unused heat is put to good use, resulting in increased energy efficiency and reduced raw material consumption.
- Carbon capture, utilization & storage: reduces carbon emissions from fossil fuel-fired power plants by 95-99%.
- Hydrogen as a safe, clean and affordable alternative to fossil fuels: Hydrogen liquefaction plants, transport solutions & refueling stations.
- Biogas liquefaction plant: can be used at source for power generation, refueling of natural gas vehicles and bunkers

Share of company sales generating positive impact: 30%

Research and development expenditure: 0.8%

Other aspects & engagement

Chart Industries has a sound sustainability strategy and assesses impacts of its business against the SDGs.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Considerable Impact

Strategy

The strategy supports the reduction of energy use.
Strategy: development of market leading high-performance polymers.
"In the High Performance Polymer sector we develop, manufacture and market high-performance engineering plastics for demanding technical applications."
These products lead to a substantial weight reduction in vehicles and thus to lower fuel consumption.

Products

- High-performance polymers with very high rigidity and temperature resistence that replace metal and reduce the weight of these compoenents by up to 2/3. Lower weight means less fuel consumption.
- Castor oil derivatives, a fully renewable resource, and are therefore originated from a non food crop

Share of company sales generating positive impact: 35%

Research and development expenditure: 2.5%

Other aspects & engagement

CO2 neutrality achieved in 2020.
Heat and power procured from Switzerland's biggest biomass power plant.
Almost no employee layoffs during automotive down-cycles.
Employer and instructor of refugees in Switzerland.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

Stadler Rail's strategy is to develop and produce innovatove rail vehicles.
It's growth strategy helps expand the energy-efficient rail transport.
Part of the strategy is to reduce energy consumption of the vehicles: "The company works tirelessly to improve the energy efficiency of its products in operation."

Products

- Components and vehicles for rail transport
- Innovative concepts such as battery and fuel cell powered locomotives

Share of company sales generating positive impact: 100%

Research and development expenditure: 2%

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Substantial Impact

Strategy

"We promote the development and dissemination of environmentally friendly technologies."

Products

- Transducers for variable speed motors
   - for electric rail vehicles
   - for inverters in wind and solar power stations
   - for electric cars

Share of company sales generating positive impact: 80%

Research and development expenditure: 9.1%

Other aspects & engagement

Lem is a global technology leader in a key technology in the electrification process.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Significant Impact

Strategy

"In our Group-wide HSE Policy we commit to minimizing or preventing harm to people and the environment arising from our processes, services and products.
One focus of our commitment to the environment is climate protection.
Knorr-Bremse concentrates most of its climate protection activities in the areas of products, logistics and energy."

Products

- Rail vehicles, for which Knorr-Bremse is a key supplier, are a very energy efficient transport means.
- Brakes with better performance allow higher speeds and longer trains, which increases the rail capacity.
- Real-time system to measure and optimize the energy consumption.
- Breaking and security systems for driverless trains.
- Brakes that can be remanufactured (award winning innovation), service for remanufacturing (29% of service revenue)

Share of company sales generating positive impact: 70%

Research and development expenditure: 5.7%

Other aspects & engagement

Knorr-Bremse uses detailed Eco-design guidelines to minimize the footprint of the products.
They reach from strategic planning to innovation and product design.
50% reduction of greenhouse gas emissions until 2030, procurement of renewable energy from 2021 on.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"Climate change and scarcity of resources ar global megatrends which form the basis for Norma Groups's business model."

Products

Lightweight connectors and other fluid management components for
   - the thermal management of batteries in electric vehicles
   - the thermal management of charging sockets and charging stations
   - the thermal management of fuel cells
Water saving irrigation systems

Share of company sales generating positive impact: 60%

Research and development expenditure: 4.7%

Other aspects & engagement

Norma has a very comprehensive sustainability management and reporting system.
The products are essential for electromobility as well as for low-loss water infrastructure.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Considerable Impact

Strategy

"We aim to increase fuel economy, reduce emissions and improve engine control through our technical solutions and precision engineering."
'The Group's environmental activities shall be integrated in all operations and shall be the subject of continuous improvement through the Concentric Business Excellence programme."

Products

- Energy-efficient oil pumps for on-highway trucks and heavy off-highway vehicles
- Optimized hydraulic pumps for agricultural and construction vehicles
- Electric coolant pumps for hybrid vehicles
- Coolant pumps for stationary batteries

Share of company sales generating positive impact: 90%

Research and development expenditure: 2.5%

Other aspects & engagement

Engagement-Call held for more determined development towards electrified commercial vehicles with electric pumps, cooperations, acquisitions.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"The Melexis strategy is to step up our presence in hybridization and electrification applications. We aim to grow in other markets, particularly in alternative mobility and in health, medical, computing, data center, telecom infrastructure and robotics applications.
Our strategy is set against several global megatrends. One key trend is an increasing and ageing population. Another is that the world, while it must find a way to meet growing demand, also needs to continue the fight against climate change and seek solutions for both CO2 and power consumption reduction."

Products

- High-temperature sensors for motors and exhaust systems in down-sized motors; saves ca. 15% fuel consumption
- Sensors for electric steering, replacing hydraulic steering
- Battery management sensors for electric vehicles
- Sensors for variable speed ventilators; saves ca. 40% electricity

Share of company sales generating positive impact: 40%

Research and development expenditure: 15.3%

Other aspects & engagement

Melexis follows the Global Reporting Initiatiative (GRI) reporting standards. The CEO and CFO positions are held by women.

We discussed potential conflicts of interests in the shareholder and supplier structure. The answers were satisfactory.
We requested a strict and transparent management of these conflicts of interest.

Source: Extract from Carnot impact analysis

 
 

Decent work and economic growth Low Impact

Strategy

"Cummins' next generation environmental sustainability strategy looks out to 2050, setting quantifiable goals for 2030.
Reduce scope 3 absolute lifetime GHG emissions from newly sold products by 25%.
Partner with customers to reduce scope 3 GHG emissions from products in the field by 55 million metric tons."

Products

- Buildings: Intelligent monitoring and control of energy use (smart building)
- Electricity: Grid technology, substations, grid management, grid connection of wind parks
- Industry: Highly efficient and intelligent electric motor drives, frequency converters, robots, industry automation (industry 4.0)
- Transport: Charging infrastructure, electricyty supply for rail vehicles

Share of company sales generating positive impact: 20%

Research and development expenditure: 3.7%

Other aspects & engagement

Cummins is a market leader in heavy vehicle powertrains and is investing heavily to drive the transition to clean technologies.

Source: Extract from Carnot impact analysis

SDG 9 Industry, innovation
and infrastructure
 
 

Industry, innovation and infrastructure Substantial Impact

Strategy

"Innovative solutions for more comfort, energy efficiency and security."

Products

- Ventilation air flap actuators with sensor (60% electricity saving): regulates air inflow according to room occupancy
- Energy valve with sensors (30%): For flow optimization in heating/cooling systems
- Throttle valves (20%): Combined valve and drive without electric supply
Over 6 mn actuators solved p.a.

Share of company sales generating positive impact: 80%

Research and development expenditure: 7.4%

Other aspects & engagement

Belimo is respected as innovation leader in a key are of Energy Efficiency.
Health: Belimo products improve the air quality in big cities because the enable great savings in electricity which is typically provided by coal power plants.

Successful Engagement to manage, measure and document CO2 abatement of Belimo products; completed in sustainability report.
We brought a smart metering specialist to Belimo for an exploration of ways how to generate billable energy data with the Belimo Energy Valve; completed with the generation IV, released in June 2021.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Significant Impact

Strategy

With its newly defined sustainability targets for the reduction of energy and water consumption, as well as waste, Sika will be minimizing its need for resources and the environmental impacts of the production process. Sika’s overriding goal is to reduce CO2 emissions per ton sold by 12% by 2023.
As a global company, Sika is committed to sustainable development. The company honors its responsibilities by offering sustainable solutions for energy-efficient construction and innovative vehicles.

Products

- Cement admixtures for low water consumption
  - for the use of recycled cement
  - for a lower need of cement in concretes
- Combined wood cement structures
- Sikaklastik roof membranes with high sun reflection
- Sealing products for lower vehicle weight
  - for wind and PV sites

Share of company sales generating positive impact: 25%

Research and development expenditure: 2.5%

Other aspects & engagement

Stringent management of sustainability targets such as CO2, waste, water etc. Proprietary SDG impact analysis. Signatory of the UN Global Compact.

We encouraged the company to disclose the positve impacts of Sika products and to calculate reduction of greenhouse gas reduction.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Substantial Impact

Strategy

"For Geberit, sustainability means being oriented towards the future and being successful over the long term. A long-term orientation results when a balance is struck between economic, environmental and social aspects in all decision-making processes."

Products

- Toilet flushing system with srongly reduced water consumption
- Urinal system with different operating modes, saving water and energy
- 'Supertube technology' leads to substantial material savings

Share of company sales generating positive impact: 50%

Research and development expenditure: approx. 2.5%

Other aspects & engagement

Signatory of the UN Global Compact since 2008. Active contribution to 4 SDGs, very detailed progress reporting.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Low Impact

Strategy

"Somfy creates innovative solutions for homes and buildings in three areas:
1. Comfort and well-being at any age
2. Security of people and property
3. Energy savings"

Products

- Automated shading (sunlight protection): Increases the use of shutters and blades by the factor of 20. Automation lowers energy consumption of lighting, heating and cooling. The motorization and automation is an important element of the smart building concept.
- Intelligent, wireless addressable heating valves
- Intelligent, wireless addressable light switches

Share of company sales generating positive impact: 90%

Research and development expenditure: 8%

Other aspects & engagement

Somfy aims at climate protection over three paths: Lowering emissioins in manufacturing, develop products with lower energy consumption, develop products that enable lower energy consumption of lighting/heating/coooling.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Substantial Impact

Strategy

"Innovations and Resource Efficiency: Innovations have an important role in tackling issues like social progress and climate change. Increasing resource efficiency is among our top priorities and we always work to do things in smarter ways."

Products

- Elevators and escaltors that consume up to 80% less energy than 15 years ago.
- Highly efficient driveless EcoDisc motor with frequency converter
- Energy recuperation in downward movement
- Extra-light Ultra Rope for very high buildings
- Remote service and optimization (less trafic, optimal operational efficiency)
- Modernization solutions for improved energy efficiency

Share of company sales generating positive impact: 70%

Research and development expenditure: 1.8%

Other aspects & engagement

Leadership score A in CDP's Global A List. Very comprehensive sustainability management inc. supply chain, ISO 14001 implemented. SBTI commitment and set targets for 1.5 degrees.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Substantial Impact

Strategy

"Bravida aims to operate a responsible business and ensure efficient management of its own and others’ resources. This includes the environmental, economic and social factors relating to our business. We take focused measures to achieve clear results."

Products

Bravida's installation business contributes to the infrastructure of buildings, and thereby has a significant impact on the use of resources in the long term. Main areas for improvement:
- Improve energy efficiency through smart buildings
- Increase employee safety and health

Share of company sales generating positive impact: >50%

Research and development expenditure: < 1%
(innovation happens more on building material and on planning level)

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Substantial Impact

Strategy

"For Instalco, sustainability means running operations responsibly and applying a holistic approach to the economic, environmental and social aspects. Our aim is to help benefit society on a daily basis through our local presence and our technical, efficient solutions in all of our areas of expertises."

Products

Instalco's installation business contributes to the infrastructure of buildings, and thereby has a significant impact on the use of resources in the long term. Main areas for improvement:
- Improve energy efficiency through smart buildings
- Safe and modern work environment

Share of company sales generating positive impact: 70%

Research and development expenditure: < 1%
(innovation happens more on building material and on planning level)

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Substantial Impact

Strategy

"Managing and developing the strongest companies that improve people’s lives indoors with solutions for comfort, climate and safety, inspires employees and generates value for shareholders."

Products

Inwido is Europe's leading window group, with activities mainly in Scandinavia. Its products improve indoor climate and reduce energy consumption through:
- High quality windows (mainly wood frames)
- Decrease climate impact from own operations and suppliers
- Reuse and recycle materials

Share of company sales generating positive impact: 90%

Research and development expenditure: 1-2%
(innovation partially in glas production)

Other aspects & engagement

- "Inwido's objective is for zero accidents to occur in ist operations."
- "Inwido targets having an even gender distribution in the Group Management Team and on the Board of Directors."

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Considerable Impact

Strategy

"The NIBE Group contributes to lower carbon dioxide emissions and better energy efficiency. In our three business areas - Climate Solutions, Element and Stoves - we develop, manufacture and market a wide range of environmentally friendly and energy-efficient solutions."

Products

- Heatpumps: 80% of the heat is sourced from the environment, i.e. from the soil or from the air.
- Heat exchangers for heating and cooling circuits
- Electric resistors for wind turbines that permit short interruptions

Share of company sales generating positive impact: 72%

Research and development expenditure: 2.9%

Other aspects & engagement

Nibe is the undisputed market leader in the European and North American heat pump market. Heat pumps are kind of a "killer application" in the fighting the over 30% of CO2 emissions caused by buildings.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Low Impact

Strategy

"Across our Company, we remain focused on embedding sustainability into our overall business strategy. We pride ourselves on delivering products and solutions that make critical infrastructure operate efficiently, safely, reliably, and sustainably."

Products

- Grid technology for renewables
- Presence detectors
- Wireless controls and switches
- Advanced metering for power, water and gas

Share of company sales generating positive impact: approx. 30%

Research and development expenditure: 3%

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Substantial Impact

Strategy

"With our 2030 sustainability strategy, we are actively enabling a low-carbon society as well as working with our customers and suppliers to implement sustainable practices across our value chain and the lifecycle of our products and solutions."

"We are dedicated to continuous improvement with respect to our products and services by seeking, among other things, to reduce emissions."

Products

- Buildings: Intelligent monitoring and control of energy use (smart building)
- Electricity: Grid technology, substations, grid management, grid connection of wind parks
- Industry: Highly efficient and intelligent electric motor drives, frequency converters, robots, industry automation (industry 4.0)
- Transport: Charging infrastructure, electricyty supply for rail vehicles

Share of company sales generating positive impact: >70%

Research and development expenditure: 4.3%

Other aspects & engagement

Explicit targets: CO2 neutrality, saving of 100 mn tonnes CO2 throuh ABB technology by 2030, engagement with suppliers for lower carbon footprint. Committed in the Science Based Targets Initiative.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Substantial Impact

Strategy

"We are a driver of the European energy transition with innovative and reliable solutions for the energy infrastructure of tomorrow."

Products

- Infrastructure created so that the green hydrogen can reach the consumers.
- CO2-neutral gas pressure regulating and metering systems: Reduction of energy consumption, as Vorwerk technology does not require the combustion of gas.
- Plant construction for biogas processing: Reduction of resource consumption through reuse of organic waste materials.

Share of company sales generating positive impact: 10%

Research and development expenditure: 2%

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Low Impact

Strategy

"As a pioneer of the energy transition, we want to realize our vision of 100% renewable energy."

Products

- Project planning and sale of wind and solar parks
- Power generation in Group-owned wind and solar parks
- Operational development and innovation (optimization of operational value creation)

Share of company sales generating positive impact: 100%

Research and development expenditure: 1.9%

(Calculation of R&D expenses: 100% personnel expenses of "Operational Development and Innovation" segment (rotor blade extension, efficiency improvement), plus 10% personnel expenses in project development business)

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Substantial Impact

Strategy

"Sustainability is at the heart of our strategy: Our mission is to help businesses meet their energy challenge -keep global warming below the 2°C limit- while achieving better operational efficiency."

Products

- EcoStruxure technology platform: IoT systems for real-time data measurement, communication, analysis and control.
- Medium voltage technology for the integration of local power grids (power sourcing and delivery), EV charging stations
- Cooling of data centres: hardware, software
- Frequency converters for electric motors, controllers

Share of company sales generating positive impact: >70%

Research and development expenditure: 2.8%

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Substantial Impact

Strategy

"Research & development: At ANDRITZ, sustainability stands above all for solutions that help customers to achieve their sustainability goals and make use of resources as economically and efficiently as possible. Research and development work thus also concentrates to a large extent on developing products of this kind."

Products

- Hydroturbines as alternatives to fossil power stations
- Boilers for biomass and waste
- Wool pellet fabrication
- Exhaust gas scrubbers
- Biogas production, pyrolysis
- Sludge drying for incineration
- Presses for composite material sheets (carbon)

Share of company sales generating positive impact: 60%
(45% related to renewable energy)

Research and development expenditure: 3%

Other aspects & engagement

Andritz has a very high share of sales in developing and emerging countries. The company brings technology and energy generating equipment that contributes to a environmental friendly growth.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Significant Impact

Strategy

"Sustainability is part of AFRY’s business strategy and a prerequisite for AFRY’s business as a whole. We connect technologies to create sustainable progress for you."

Products

AFRY contributes to creating a sustainable society by finding new solutions which are efficient and resource saving. AFRY's projects create value for clients, society and shareholders. Prioritised aspects of sustainability are:
- Develop its service offering towards impact
- Create impact and local community level

Share of company sales generating positive impact: >60%

Research and development expenditure: 20%

(a substantial share of AFRY's activity is part of r&d expenditure on the client's side)

Other aspects & engagement

Signatory to SBTI and Net-Zero. AFRY helps companies become sustainable using, among other things, environmental impact quantification models.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Considerable Impact

Strategy

"We will deliver on our commitments to reduce our impact on the climate. We are committed to changing mindsets and outcomes in our own business, among our customers and our suppliers to achieve our targets.
Our goal: to halve our carbon footprint."

"Our products should contribute as much as possible to reducing the environmental impact of customer processes, and they should also be recyclable."

Products

- Metal for supercritical water gasification
- Metals for solar thermal power production
- Additive manufacturing technology and materials
- Drilling technology for highly productive mining (hard- and software)
- Battery-electric mining loaders and transporters
- Light-weight titanium materials for airplanes
- Process technology for fuel cells

Share of company sales generating positive impact: 60%

Research and development expenditure: 3.7%

Other aspects & engagement

Large activities in mining, which is fundamentally a critical industry and where a lot of negative impact is also generated. This is precisely why sustainability is a central pillar of the strategy. Sandvik belongs to various sustainability indices and is a member of the UN Global Compact.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Significant Impact

Strategy

"Hexagon's technologies are shaping urban and production ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future."

Products

- Sensors (incl. cameras, laser)
- Monitoring equipment
- Precision positioning
- Metrology systems
- Software (CAD, CAM, CAE)

Share of company sales generating positive impact: >70%

Research and development expenditure: 12%

Other aspects & engagement

Hexagon has activities in the defence market. The activities amount to less than 5% of business. We have started a dialogue with the company with the aim to reduce these activities over time.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Low Impact

Strategy

"We remain focused on developing solutions that accelerate the energy transition and strengthen Vestas’ continued leadership in wind."

"Our goals are carbon neutrality by 2030 without carbon offsets, zero waste turbines by 2040."

Products

On-shore and off-shore wind turbines.
"A single Vestas wind turbine will generate around 25 to 50 times more energy than it uses in its entire lifecycle and return this back to society. And, a single Vestas wind turbine only emits around one percent of carbon dioxide when compared to a coal power plant."

Share of company sales generating positive impact: 100%

Research and development expenditure: 2.3%

Other aspects & engagement

Signatory of the SBTI for 1.5 degrees and committed to zero carbon emissions.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Significant Impact

Strategy

"Chart aims to be a leading supplier of technologies, equipment and services in the fields of liquefied natural gas, hydrogen, biogas and CO2 capture, and thus a pioneer of the energy transition."

Products

- Air-cooled heat exchangers: unused heat is put to good use, resulting in increased energy efficiency and reduced raw material consumption.
- Carbon capture, utilization & storage: reduces carbon emissions from fossil fuel-fired power plants by 95-99%.
- Hydrogen as a safe, clean and affordable alternative to fossil fuels: Hydrogen liquefaction plants, transport solutions & refueling stations.
- Biogas liquefaction plant: can be used at source for power generation, refueling of natural gas vehicles and bunkers

Share of company sales generating positive impact: 30%

Research and development expenditure: 0.8%

Other aspects & engagement

Chart Industries has a sound sustainability strategy and assesses impacts of its business against the SDGs.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Considerable Impact

Strategy

The strategy supports the reduction of energy use.
Strategy: development of market leading high-performance polymers.
"In the High Performance Polymer sector we develop, manufacture and market high-performance engineering plastics for demanding technical applications."
These products lead to a substantial weight reduction in vehicles and thus to lower fuel consumption.

Products

- High-performance polymers with very high rigidity and temperature resistence that replace metal and reduce the weight of these compoenents by up to 2/3. Lower weight means less fuel consumption.
- Castor oil derivatives, a fully renewable resource, and are therefore originated from a non food crop

Share of company sales generating positive impact: 35%

Research and development expenditure: 2.5%

Other aspects & engagement

CO2 neutrality achieved in 2020.
Heat and power procured from Switzerland's biggest biomass power plant.
Almost no employee layoffs during automotive down-cycles.
Employer and instructor of refugees in Switzerland.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Low Impact

Strategy

Stadler Rail's strategy is to develop and produce innovatove rail vehicles.
It's growth strategy helps expand the energy-efficient rail transport.
Part of the strategy is to reduce energy consumption of the vehicles: "The company works tirelessly to improve the energy efficiency of its products in operation."

Products

- Components and vehicles for rail transport
- Innovative concepts such as battery and fuel cell powered locomotives

Share of company sales generating positive impact: 100%

Research and development expenditure: 2%

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Considerable Impact

Strategy

"We promote the development and dissemination of environmentally friendly technologies."

Products

- Transducers for variable speed motors
   - for electric rail vehicles
   - for inverters in wind and solar power stations
   - for electric cars

Share of company sales generating positive impact: 80%

Research and development expenditure: 9.1%

Other aspects & engagement

Lem is a global technology leader in a key technology in the electrification process.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Significant Impact

Strategy

"In our Group-wide HSE Policy we commit to minimizing or preventing harm to people and the environment arising from our processes, services and products.
One focus of our commitment to the environment is climate protection.
Knorr-Bremse concentrates most of its climate protection activities in the areas of products, logistics and energy."

Products

- Rail vehicles, for which Knorr-Bremse is a key supplier, are a very energy efficient transport means.
- Brakes with better performance allow higher speeds and longer trains, which increases the rail capacity.
- Real-time system to measure and optimize the energy consumption.
- Breaking and security systems for driverless trains.
- Brakes that can be remanufactured (award winning innovation), service for remanufacturing (29% of service revenue)

Share of company sales generating positive impact: 70%

Research and development expenditure: 5.7%

Other aspects & engagement

Knorr-Bremse uses detailed Eco-design guidelines to minimize the footprint of the products.
They reach from strategic planning to innovation and product design.
50% reduction of greenhouse gas emissions until 2030, procurement of renewable energy from 2021 on.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Considerable Impact

Strategy

"Climate change and scarcity of resources ar global megatrends which form the basis for Norma Groups's business model."

Products

Lightweight connectors and other fluid management components for
   - the thermal management of batteries in electric vehicles
   - the thermal management of charging sockets and charging stations
   - the thermal management of fuel cells
Water saving irrigation systems

Share of company sales generating positive impact: 60%

Research and development expenditure: 4.7%

Other aspects & engagement

Norma has a very comprehensive sustainability management and reporting system.
The products are essential for electromobility as well as for low-loss water infrastructure.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Substantial Impact

Strategy

"We aim to increase fuel economy, reduce emissions and improve engine control through our technical solutions and precision engineering."
'The Group's environmental activities shall be integrated in all operations and shall be the subject of continuous improvement through the Concentric Business Excellence programme."

Products

- Energy-efficient oil pumps for on-highway trucks and heavy off-highway vehicles
- Optimized hydraulic pumps for agricultural and construction vehicles
- Electric coolant pumps for hybrid vehicles
- Coolant pumps for stationary batteries

Share of company sales generating positive impact: 90%

Research and development expenditure: 2.5%

Other aspects & engagement

Engagement-Call held for more determined development towards electrified commercial vehicles with electric pumps, cooperations, acquisitions.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Low Impact

Strategy

"The Melexis strategy is to step up our presence in hybridization and electrification applications. We aim to grow in other markets, particularly in alternative mobility and in health, medical, computing, data center, telecom infrastructure and robotics applications.
Our strategy is set against several global megatrends. One key trend is an increasing and ageing population. Another is that the world, while it must find a way to meet growing demand, also needs to continue the fight against climate change and seek solutions for both CO2 and power consumption reduction."

Products

- High-temperature sensors for motors and exhaust systems in down-sized motors; saves ca. 15% fuel consumption
- Sensors for electric steering, replacing hydraulic steering
- Battery management sensors for electric vehicles
- Sensors for variable speed ventilators; saves ca. 40% electricity

Share of company sales generating positive impact: 40%

Research and development expenditure: 15.3%

Other aspects & engagement

Melexis follows the Global Reporting Initiatiative (GRI) reporting standards. The CEO and CFO positions are held by women.

We discussed potential conflicts of interests in the shareholder and supplier structure. The answers were satisfactory.
We requested a strict and transparent management of these conflicts of interest.

Source: Extract from Carnot impact analysis

 
 

Industry, innovation and infrastructure Substantial Impact

Strategy

"Cummins' next generation environmental sustainability strategy looks out to 2050, setting quantifiable goals for 2030.
Reduce scope 3 absolute lifetime GHG emissions from newly sold products by 25%.
Partner with customers to reduce scope 3 GHG emissions from products in the field by 55 million metric tons."

Products

- Buildings: Intelligent monitoring and control of energy use (smart building)
- Electricity: Grid technology, substations, grid management, grid connection of wind parks
- Industry: Highly efficient and intelligent electric motor drives, frequency converters, robots, industry automation (industry 4.0)
- Transport: Charging infrastructure, electricyty supply for rail vehicles

Share of company sales generating positive impact: 20%

Research and development expenditure: 3.7%

Other aspects & engagement

Cummins is a market leader in heavy vehicle powertrains and is investing heavily to drive the transition to clean technologies.

Source: Extract from Carnot impact analysis

SDG 11 Sustaibanle cities
and communities
 
 

Sustainable cities and communities Considerable Impact

Strategy

"Innovative solutions for more comfort, energy efficiency and security."

Products

- Ventilation air flap actuators with sensor (60% electricity saving): regulates air inflow according to room occupancy
- Energy valve with sensors (30%): For flow optimization in heating/cooling systems
- Throttle valves (20%): Combined valve and drive without electric supply
Over 6 mn actuators solved p.a.

Share of company sales generating positive impact: 80%

Research and development expenditure: 7.4%

Other aspects & engagement

Belimo is respected as innovation leader in a key are of Energy Efficiency.
Health: Belimo products improve the air quality in big cities because the enable great savings in electricity which is typically provided by coal power plants.

Successful Engagement to manage, measure and document CO2 abatement of Belimo products; completed in sustainability report.
We brought a smart metering specialist to Belimo for an exploration of ways how to generate billable energy data with the Belimo Energy Valve; completed with the generation IV, released in June 2021.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Substantial Impact

Strategy

With its newly defined sustainability targets for the reduction of energy and water consumption, as well as waste, Sika will be minimizing its need for resources and the environmental impacts of the production process. Sika’s overriding goal is to reduce CO2 emissions per ton sold by 12% by 2023.
As a global company, Sika is committed to sustainable development. The company honors its responsibilities by offering sustainable solutions for energy-efficient construction and innovative vehicles.

Products

- Cement admixtures for low water consumption
  - for the use of recycled cement
  - for a lower need of cement in concretes
- Combined wood cement structures
- Sikaklastik roof membranes with high sun reflection
- Sealing products for lower vehicle weight
  - for wind and PV sites

Share of company sales generating positive impact: 25%

Research and development expenditure: 2.5%

Other aspects & engagement

Stringent management of sustainability targets such as CO2, waste, water etc. Proprietary SDG impact analysis. Signatory of the UN Global Compact.

We encouraged the company to disclose the positve impacts of Sika products and to calculate reduction of greenhouse gas reduction.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Substantial Impact

Strategy

"For Geberit, sustainability means being oriented towards the future and being successful over the long term. A long-term orientation results when a balance is struck between economic, environmental and social aspects in all decision-making processes."

Products

- Toilet flushing system with srongly reduced water consumption
- Urinal system with different operating modes, saving water and energy
- 'Supertube technology' leads to substantial material savings

Share of company sales generating positive impact: 50%

Research and development expenditure: approx. 2.5%

Other aspects & engagement

Signatory of the UN Global Compact since 2008. Active contribution to 4 SDGs, very detailed progress reporting.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Considerable Impact

Strategy

"Somfy creates innovative solutions for homes and buildings in three areas:
1. Comfort and well-being at any age
2. Security of people and property
3. Energy savings"

Products

- Automated shading (sunlight protection): Increases the use of shutters and blades by the factor of 20. Automation lowers energy consumption of lighting, heating and cooling. The motorization and automation is an important element of the smart building concept.
- Intelligent, wireless addressable heating valves
- Intelligent, wireless addressable light switches

Share of company sales generating positive impact: 90%

Research and development expenditure: 8%

Other aspects & engagement

Somfy aims at climate protection over three paths: Lowering emissioins in manufacturing, develop products with lower energy consumption, develop products that enable lower energy consumption of lighting/heating/coooling.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Substantial Impact

Strategy

"Innovations and Resource Efficiency: Innovations have an important role in tackling issues like social progress and climate change. Increasing resource efficiency is among our top priorities and we always work to do things in smarter ways."

Products

- Elevators and escaltors that consume up to 80% less energy than 15 years ago.
- Highly efficient driveless EcoDisc motor with frequency converter
- Energy recuperation in downward movement
- Extra-light Ultra Rope for very high buildings
- Remote service and optimization (less trafic, optimal operational efficiency)
- Modernization solutions for improved energy efficiency

Share of company sales generating positive impact: 70%

Research and development expenditure: 1.8%

Other aspects & engagement

Leadership score A in CDP's Global A List. Very comprehensive sustainability management inc. supply chain, ISO 14001 implemented. SBTI commitment and set targets for 1.5 degrees.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Substantial Impact

Strategy

"Bravida aims to operate a responsible business and ensure efficient management of its own and others’ resources. This includes the environmental, economic and social factors relating to our business. We take focused measures to achieve clear results."

Products

Bravida's installation business contributes to the infrastructure of buildings, and thereby has a significant impact on the use of resources in the long term. Main areas for improvement:
- Improve energy efficiency through smart buildings
- Increase employee safety and health

Share of company sales generating positive impact: >50%

Research and development expenditure: < 1%
(innovation happens more on building material and on planning level)

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Considerable Impact

Strategy

"For Instalco, sustainability means running operations responsibly and applying a holistic approach to the economic, environmental and social aspects. Our aim is to help benefit society on a daily basis through our local presence and our technical, efficient solutions in all of our areas of expertises."

Products

Instalco's installation business contributes to the infrastructure of buildings, and thereby has a significant impact on the use of resources in the long term. Main areas for improvement:
- Improve energy efficiency through smart buildings
- Safe and modern work environment

Share of company sales generating positive impact: 70%

Research and development expenditure: < 1%
(innovation happens more on building material and on planning level)

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Low Impact

Strategy

"Managing and developing the strongest companies that improve people’s lives indoors with solutions for comfort, climate and safety, inspires employees and generates value for shareholders."

Products

Inwido is Europe's leading window group, with activities mainly in Scandinavia. Its products improve indoor climate and reduce energy consumption through:
- High quality windows (mainly wood frames)
- Decrease climate impact from own operations and suppliers
- Reuse and recycle materials

Share of company sales generating positive impact: 90%

Research and development expenditure: 1-2%
(innovation partially in glas production)

Other aspects & engagement

- "Inwido's objective is for zero accidents to occur in ist operations."
- "Inwido targets having an even gender distribution in the Group Management Team and on the Board of Directors."

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Considerable Impact

Strategy

"The NIBE Group contributes to lower carbon dioxide emissions and better energy efficiency. In our three business areas - Climate Solutions, Element and Stoves - we develop, manufacture and market a wide range of environmentally friendly and energy-efficient solutions."

Products

- Heatpumps: 80% of the heat is sourced from the environment, i.e. from the soil or from the air.
- Heat exchangers for heating and cooling circuits
- Electric resistors for wind turbines that permit short interruptions

Share of company sales generating positive impact: 72%

Research and development expenditure: 2.9%

Other aspects & engagement

Nibe is the undisputed market leader in the European and North American heat pump market. Heat pumps are kind of a "killer application" in the fighting the over 30% of CO2 emissions caused by buildings.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Substantial Impact

Strategy

"Across our Company, we remain focused on embedding sustainability into our overall business strategy. We pride ourselves on delivering products and solutions that make critical infrastructure operate efficiently, safely, reliably, and sustainably."

Products

- Grid technology for renewables
- Presence detectors
- Wireless controls and switches
- Advanced metering for power, water and gas

Share of company sales generating positive impact: approx. 30%

Research and development expenditure: 3%

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Considerable Impact

Strategy

"With our 2030 sustainability strategy, we are actively enabling a low-carbon society as well as working with our customers and suppliers to implement sustainable practices across our value chain and the lifecycle of our products and solutions."

"We are dedicated to continuous improvement with respect to our products and services by seeking, among other things, to reduce emissions."

Products

- Buildings: Intelligent monitoring and control of energy use (smart building)
- Electricity: Grid technology, substations, grid management, grid connection of wind parks
- Industry: Highly efficient and intelligent electric motor drives, frequency converters, robots, industry automation (industry 4.0)
- Transport: Charging infrastructure, electricyty supply for rail vehicles

Share of company sales generating positive impact: >70%

Research and development expenditure: 4.3%

Other aspects & engagement

Explicit targets: CO2 neutrality, saving of 100 mn tonnes CO2 throuh ABB technology by 2030, engagement with suppliers for lower carbon footprint. Committed in the Science Based Targets Initiative.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Considerable Impact

Strategy

"We are a driver of the European energy transition with innovative and reliable solutions for the energy infrastructure of tomorrow."

Products

- Infrastructure created so that the green hydrogen can reach the consumers.
- CO2-neutral gas pressure regulating and metering systems: Reduction of energy consumption, as Vorwerk technology does not require the combustion of gas.
- Plant construction for biogas processing: Reduction of resource consumption through reuse of organic waste materials.

Share of company sales generating positive impact: 10%

Research and development expenditure: 2%

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Substantial Impact

Strategy

"As a pioneer of the energy transition, we want to realize our vision of 100% renewable energy."

Products

- Project planning and sale of wind and solar parks
- Power generation in Group-owned wind and solar parks
- Operational development and innovation (optimization of operational value creation)

Share of company sales generating positive impact: 100%

Research and development expenditure: 1.9%

(Calculation of R&D expenses: 100% personnel expenses of "Operational Development and Innovation" segment (rotor blade extension, efficiency improvement), plus 10% personnel expenses in project development business)

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Substantial Impact

Strategy

"Sustainability is at the heart of our strategy: Our mission is to help businesses meet their energy challenge -keep global warming below the 2°C limit- while achieving better operational efficiency."

Products

- EcoStruxure technology platform: IoT systems for real-time data measurement, communication, analysis and control.
- Medium voltage technology for the integration of local power grids (power sourcing and delivery), EV charging stations
- Cooling of data centres: hardware, software
- Frequency converters for electric motors, controllers

Share of company sales generating positive impact: >70%

Research and development expenditure: 2.8%

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Low Impact

Strategy

"Research & development: At ANDRITZ, sustainability stands above all for solutions that help customers to achieve their sustainability goals and make use of resources as economically and efficiently as possible. Research and development work thus also concentrates to a large extent on developing products of this kind."

Products

- Hydroturbines as alternatives to fossil power stations
- Boilers for biomass and waste
- Wool pellet fabrication
- Exhaust gas scrubbers
- Biogas production, pyrolysis
- Sludge drying for incineration
- Presses for composite material sheets (carbon)

Share of company sales generating positive impact: 60%
(45% related to renewable energy)

Research and development expenditure: 3%

Other aspects & engagement

Andritz has a very high share of sales in developing and emerging countries. The company brings technology and energy generating equipment that contributes to a environmental friendly growth.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Substantial Impact

Strategy

"Sustainability is part of AFRY’s business strategy and a prerequisite for AFRY’s business as a whole. We connect technologies to create sustainable progress for you."

Products

AFRY contributes to creating a sustainable society by finding new solutions which are efficient and resource saving. AFRY's projects create value for clients, society and shareholders. Prioritised aspects of sustainability are:
- Develop its service offering towards impact
- Create impact and local community level

Share of company sales generating positive impact: >60%

Research and development expenditure: 20%

(a substantial share of AFRY's activity is part of r&d expenditure on the client's side)

Other aspects & engagement

Signatory to SBTI and Net-Zero. AFRY helps companies become sustainable using, among other things, environmental impact quantification models.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Low Impact

Strategy

"We will deliver on our commitments to reduce our impact on the climate. We are committed to changing mindsets and outcomes in our own business, among our customers and our suppliers to achieve our targets.
Our goal: to halve our carbon footprint."

"Our products should contribute as much as possible to reducing the environmental impact of customer processes, and they should also be recyclable."

Products

- Metal for supercritical water gasification
- Metals for solar thermal power production
- Additive manufacturing technology and materials
- Drilling technology for highly productive mining (hard- and software)
- Battery-electric mining loaders and transporters
- Light-weight titanium materials for airplanes
- Process technology for fuel cells

Share of company sales generating positive impact: 60%

Research and development expenditure: 3.7%

Other aspects & engagement

Large activities in mining, which is fundamentally a critical industry and where a lot of negative impact is also generated. This is precisely why sustainability is a central pillar of the strategy. Sandvik belongs to various sustainability indices and is a member of the UN Global Compact.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Substantial Impact

Strategy

"Hexagon's technologies are shaping urban and production ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future."

Products

- Sensors (incl. cameras, laser)
- Monitoring equipment
- Precision positioning
- Metrology systems
- Software (CAD, CAM, CAE)

Share of company sales generating positive impact: >70%

Research and development expenditure: 12%

Other aspects & engagement

Hexagon has activities in the defence market. The activities amount to less than 5% of business. We have started a dialogue with the company with the aim to reduce these activities over time.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Low Impact

Strategy

"We remain focused on developing solutions that accelerate the energy transition and strengthen Vestas’ continued leadership in wind."

"Our goals are carbon neutrality by 2030 without carbon offsets, zero waste turbines by 2040."

Products

On-shore and off-shore wind turbines.
"A single Vestas wind turbine will generate around 25 to 50 times more energy than it uses in its entire lifecycle and return this back to society. And, a single Vestas wind turbine only emits around one percent of carbon dioxide when compared to a coal power plant."

Share of company sales generating positive impact: 100%

Research and development expenditure: 2.3%

Other aspects & engagement

Signatory of the SBTI for 1.5 degrees and committed to zero carbon emissions.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Substantial Impact

Strategy

"Chart aims to be a leading supplier of technologies, equipment and services in the fields of liquefied natural gas, hydrogen, biogas and CO2 capture, and thus a pioneer of the energy transition."

Products

- Air-cooled heat exchangers: unused heat is put to good use, resulting in increased energy efficiency and reduced raw material consumption.
- Carbon capture, utilization & storage: reduces carbon emissions from fossil fuel-fired power plants by 95-99%.
- Hydrogen as a safe, clean and affordable alternative to fossil fuels: Hydrogen liquefaction plants, transport solutions & refueling stations.
- Biogas liquefaction plant: can be used at source for power generation, refueling of natural gas vehicles and bunkers

Share of company sales generating positive impact: 30%

Research and development expenditure: 0.8%

Other aspects & engagement

Chart Industries has a sound sustainability strategy and assesses impacts of its business against the SDGs.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Substantial Impact

Strategy

The strategy supports the reduction of energy use.
Strategy: development of market leading high-performance polymers.
"In the High Performance Polymer sector we develop, manufacture and market high-performance engineering plastics for demanding technical applications."
These products lead to a substantial weight reduction in vehicles and thus to lower fuel consumption.

Products

- High-performance polymers with very high rigidity and temperature resistence that replace metal and reduce the weight of these compoenents by up to 2/3. Lower weight means less fuel consumption.
- Castor oil derivatives, a fully renewable resource, and are therefore originated from a non food crop

Share of company sales generating positive impact: 35%

Research and development expenditure: 2.5%

Other aspects & engagement

CO2 neutrality achieved in 2020.
Heat and power procured from Switzerland's biggest biomass power plant.
Almost no employee layoffs during automotive down-cycles.
Employer and instructor of refugees in Switzerland.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Significant Impact

Strategy

Stadler Rail's strategy is to develop and produce innovatove rail vehicles.
It's growth strategy helps expand the energy-efficient rail transport.
Part of the strategy is to reduce energy consumption of the vehicles: "The company works tirelessly to improve the energy efficiency of its products in operation."

Products

- Components and vehicles for rail transport
- Innovative concepts such as battery and fuel cell powered locomotives

Share of company sales generating positive impact: 100%

Research and development expenditure: 2%

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Significant Impact

Strategy

"We promote the development and dissemination of environmentally friendly technologies."

Products

- Transducers for variable speed motors
   - for electric rail vehicles
   - for inverters in wind and solar power stations
   - for electric cars

Share of company sales generating positive impact: 80%

Research and development expenditure: 9.1%

Other aspects & engagement

Lem is a global technology leader in a key technology in the electrification process.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Significant Impact

Strategy

"In our Group-wide HSE Policy we commit to minimizing or preventing harm to people and the environment arising from our processes, services and products.
One focus of our commitment to the environment is climate protection.
Knorr-Bremse concentrates most of its climate protection activities in the areas of products, logistics and energy."

Products

- Rail vehicles, for which Knorr-Bremse is a key supplier, are a very energy efficient transport means.
- Brakes with better performance allow higher speeds and longer trains, which increases the rail capacity.
- Real-time system to measure and optimize the energy consumption.
- Breaking and security systems for driverless trains.
- Brakes that can be remanufactured (award winning innovation), service for remanufacturing (29% of service revenue)

Share of company sales generating positive impact: 70%

Research and development expenditure: 5.7%

Other aspects & engagement

Knorr-Bremse uses detailed Eco-design guidelines to minimize the footprint of the products.
They reach from strategic planning to innovation and product design.
50% reduction of greenhouse gas emissions until 2030, procurement of renewable energy from 2021 on.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Substantial Impact

Strategy

"Climate change and scarcity of resources ar global megatrends which form the basis for Norma Groups's business model."

Products

Lightweight connectors and other fluid management components for
   - the thermal management of batteries in electric vehicles
   - the thermal management of charging sockets and charging stations
   - the thermal management of fuel cells
Water saving irrigation systems

Share of company sales generating positive impact: 60%

Research and development expenditure: 4.7%

Other aspects & engagement

Norma has a very comprehensive sustainability management and reporting system.
The products are essential for electromobility as well as for low-loss water infrastructure.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Low Impact

Strategy

"We aim to increase fuel economy, reduce emissions and improve engine control through our technical solutions and precision engineering."
'The Group's environmental activities shall be integrated in all operations and shall be the subject of continuous improvement through the Concentric Business Excellence programme."

Products

- Energy-efficient oil pumps for on-highway trucks and heavy off-highway vehicles
- Optimized hydraulic pumps for agricultural and construction vehicles
- Electric coolant pumps for hybrid vehicles
- Coolant pumps for stationary batteries

Share of company sales generating positive impact: 90%

Research and development expenditure: 2.5%

Other aspects & engagement

Engagement-Call held for more determined development towards electrified commercial vehicles with electric pumps, cooperations, acquisitions.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Considerable Impact

Strategy

"The Melexis strategy is to step up our presence in hybridization and electrification applications. We aim to grow in other markets, particularly in alternative mobility and in health, medical, computing, data center, telecom infrastructure and robotics applications.
Our strategy is set against several global megatrends. One key trend is an increasing and ageing population. Another is that the world, while it must find a way to meet growing demand, also needs to continue the fight against climate change and seek solutions for both CO2 and power consumption reduction."

Products

- High-temperature sensors for motors and exhaust systems in down-sized motors; saves ca. 15% fuel consumption
- Sensors for electric steering, replacing hydraulic steering
- Battery management sensors for electric vehicles
- Sensors for variable speed ventilators; saves ca. 40% electricity

Share of company sales generating positive impact: 40%

Research and development expenditure: 15.3%

Other aspects & engagement

Melexis follows the Global Reporting Initiatiative (GRI) reporting standards. The CEO and CFO positions are held by women.

We discussed potential conflicts of interests in the shareholder and supplier structure. The answers were satisfactory.
We requested a strict and transparent management of these conflicts of interest.

Source: Extract from Carnot impact analysis

 
 

Sustainable cities and communities Considerable Impact

Strategy

"Cummins' next generation environmental sustainability strategy looks out to 2050, setting quantifiable goals for 2030.
Reduce scope 3 absolute lifetime GHG emissions from newly sold products by 25%.
Partner with customers to reduce scope 3 GHG emissions from products in the field by 55 million metric tons."

Products

- Buildings: Intelligent monitoring and control of energy use (smart building)
- Electricity: Grid technology, substations, grid management, grid connection of wind parks
- Industry: Highly efficient and intelligent electric motor drives, frequency converters, robots, industry automation (industry 4.0)
- Transport: Charging infrastructure, electricyty supply for rail vehicles

Share of company sales generating positive impact: 20%

Research and development expenditure: 3.7%

Other aspects & engagement

Cummins is a market leader in heavy vehicle powertrains and is investing heavily to drive the transition to clean technologies.

Source: Extract from Carnot impact analysis

SDG 13 Climate action
 
 

Climate Action Significant Impact

Strategy

"Innovative solutions for more comfort, energy efficiency and security."

Products

- Ventilation air flap actuators with sensor (60% electricity saving): regulates air inflow according to room occupancy
- Energy valve with sensors (30%): For flow optimization in heating/cooling systems
- Throttle valves (20%): Combined valve and drive without electric supply
Over 6 mn actuators solved p.a.

Share of company sales generating positive impact: 80%

Research and development expenditure: 7.4%

Other aspects & engagement

Belimo is respected as innovation leader in a key are of Energy Efficiency.
Health: Belimo products improve the air quality in big cities because the enable great savings in electricity which is typically provided by coal power plants.

Successful Engagement to manage, measure and document CO2 abatement of Belimo products; completed in sustainability report.
We brought a smart metering specialist to Belimo for an exploration of ways how to generate billable energy data with the Belimo Energy Valve; completed with the generation IV, released in June 2021.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"With its newly defined sustainability targets for the reduction of energy and water consumption, as well as waste, Sika will be minimizing its need for resources and the environmental impacts of the production process. Sika’s overriding goal is to reduce CO2 emissions per ton sold by 12% by 2023.
As a global company, Sika is committed to sustainable development. The company honors its responsibilities by offering sustainable solutions for energy-efficient construction and innovative vehicles."

Products

- Cement admixtures for low water consumption
  - for the use of recycled cement
  - for a lower need of cement in concretes
- Combined wood cement structures
- Sikaklastik roof membranes with high sun reflection
- Sealing products for lower vehicle weight
  - for wind and PV sites

Share of company sales generating positive impact: 25%

Research and development expenditure: 2.5%

Other aspects & engagement

Stringent management of sustainability targets such as CO2, waste, water etc. Proprietary SDG impact analysis. Signatory of the UN Global Compact.

We encouraged the company to disclose the positve impacts of Sika products and to calculate reduction of greenhouse gas reduction.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"For Geberit, sustainability means being oriented towards the future and being successful over the long term. A long-term orientation results when a balance is struck between economic, environmental and social aspects in all decision-making processes."

Products

- Toilet flushing system with srongly reduced water consumption
- Urinal system with different operating modes, saving water and energy
- 'Supertube technology' leads to substantial material savings

Share of company sales generating positive impact: 50%

Research and development expenditure: approx. 2.5%

Other aspects & engagement

Signatory of the UN Global Compact since 2008. Active contribution to 4 SDGs, very detailed progress reporting.

Source: Extract from Carnot impact analysis

 
 

Climate Action Significant Impact

Strategy

"Somfy creates innovative solutions for homes and buildings in three areas:
1. Comfort and well-being at any age
2. Security of people and property
3. Energy savings"

Products

- Automated shading (sunlight protection): Increases the use of shutters and blades by the factor of 20. Automation lowers energy consumption of lighting, heating and cooling. The motorization and automation is an important element of the smart building concept.
- Intelligent, wireless addressable heating valves
- Intelligent, wireless addressable light switches

Share of company sales generating positive impact: 90%

Research and development expenditure: 8%

Other aspects & engagement

Somfy aims at climate protection over three paths: Lowering emissioins in manufacturing, develop products with lower energy consumption, develop products that enable lower energy consumption of lighting/heating/coooling.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"Innovations and Resource Efficiency: Innovations have an important role in tackling issues like social progress and climate change. Increasing resource efficiency is among our top priorities and we always work to do things in smarter ways."

Products

- Elevators and escaltors that consume up to 80% less energy than 15 years ago.
- Highly efficient driveless EcoDisc motor with frequency converter
- Energy recuperation in downward movement
- Extra-light Ultra Rope for very high buildings
- Remote service and optimization (less trafic, optimal operational efficiency)
- Modernization solutions for improved energy efficiency

Share of company sales generating positive impact: 70%

Research and development expenditure: 1.8%

Other aspects & engagement

Leadership score A in CDP's Global A List. Very comprehensive sustainability management inc. supply chain, ISO 14001 implemented. SBTI commitment and set targets for 1.5 degrees.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"Bravida aims to operate a responsible business and ensure efficient management of its own and others’ resources. This includes the environmental, economic and social factors relating to our business. We take focused measures to achieve clear results."

Products

Bravida's installation business contributes to the infrastructure of buildings, and thereby has a significant impact on the use of resources in the long term. Main areas for improvement:
- Improve energy efficiency through smart buildings
- Increase employee safety and health

Share of company sales generating positive impact: >50%

Research and development expenditure: < 1%
(innovation happens more on building material and on planning level)

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"For Instalco, sustainability means running operations responsibly and applying a holistic approach to the economic, environmental and social aspects. Our aim is to help benefit society on a daily basis through our local presence and our technical, efficient solutions in all of our areas of expertises."

Products

Instalco's installation business contributes to the infrastructure of buildings, and thereby has a significant impact on the use of resources in the long term. Main areas for improvement:
- Improve energy efficiency through smart buildings
- Safe and modern work environment

Share of company sales generating positive impact: 70%

Research and development expenditure: < 1%
(innovation happens more on building material and on planning level)

Source: Extract from Carnot impact analysis

 
 

Climate Action Significant Impact

Strategy

"Managing and developing the strongest companies that improve people’s lives indoors with solutions for comfort, climate and safety, inspires employees and generates value for shareholders."

Products

Inwido is Europe's leading window group, with activities mainly in Scandinavia. Its products improve indoor climate and reduce energy consumption through:
- High quality windows (mainly wood frames)
- Decrease climate impact from own operations and suppliers
- Reuse and recycle materials

Share of company sales generating positive impact: 90%

Research and development expenditure: 1-2%
(innovation partially in glas production)

Other aspects & engagement

- "Inwido's objective is for zero accidents to occur in ist operations."
- "Inwido targets having an even gender distribution in the Group Management Team and on the Board of Directors."

Source: Extract from Carnot impact analysis

 
 

Climate Action Significant Impact

Strategy

"The NIBE Group contributes to lower carbon dioxide emissions and better energy efficiency. In our three business areas - Climate Solutions, Element and Stoves - we develop, manufacture and market a wide range of environmentally friendly and energy-efficient solutions."

Products

- Heatpumps: 80% of the heat is sourced from the environment, i.e. from the soil or from the air.
- Heat exchangers for heating and cooling circuits
- Electric resistors for wind turbines that permit short interruptions

Share of company sales generating positive impact: 72%

Research and development expenditure: 2.9%

Other aspects & engagement

Nibe is the undisputed market leader in the European and North American heat pump market. Heat pumps are kind of a "killer application" in the fighting the over 30% of CO2 emissions caused by buildings.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"Across our Company, we remain focused on embedding sustainability into our overall business strategy. We pride ourselves on delivering products and solutions that make critical infrastructure operate efficiently, safely, reliably, and sustainably."

Products

- Grid technology for renewables
- Presence detectors
- Wireless controls and switches
- Advanced metering for power, water and gas

Share of company sales generating positive impact: approx. 30%

Research and development expenditure: 3%

Source: Extract from Carnot impact analysis

 
 

Climate Action Significant Impact

Strategy

"With our 2030 sustainability strategy, we are actively enabling a low-carbon society as well as working with our customers and suppliers to implement sustainable practices across our value chain and the lifecycle of our products and solutions."

"We are dedicated to continuous improvement with respect to our products and services by seeking, among other things, to reduce emissions."

Products

- Buildings: Intelligent monitoring and control of energy use (smart building)
- Electricity: Grid technology, substations, grid management, grid connection of wind parks
- Industry: Highly efficient and intelligent electric motor drives, frequency converters, robots, industry automation (industry 4.0)
- Transport: Charging infrastructure, electricyty supply for rail vehicles

Share of company sales generating positive impact: >70%

Research and development expenditure: 4.3%

Other aspects & engagement

Explicit targets: CO2 neutrality, saving of 100 mn tonnes CO2 throuh ABB technology by 2030, engagement with suppliers for lower carbon footprint. Committed in the Science Based Targets Initiative.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"We are a driver of the European energy transition with innovative and reliable solutions for the energy infrastructure of tomorrow."

Products

- Infrastructure created so that the green hydrogen can reach the consumers.
- CO2-neutral gas pressure regulating and metering systems: Reduction of energy consumption, as Vorwerk technology does not require the combustion of gas.
- Plant construction for biogas processing: Reduction of resource consumption through reuse of organic waste materials.

Share of company sales generating positive impact: 10%

Research and development expenditure: 2%

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"As a pioneer of the energy transition, we want to realize our vision of 100% renewable energy."

Products

- Project planning and sale of wind and solar parks
- Power generation in Group-owned wind and solar parks
- Operational development and innovation (optimization of operational value creation)

Share of company sales generating positive impact: 100%

Research and development expenditure: 1.9%

(Calculation of R&D expenses: 100% personnel expenses of "Operational Development and Innovation" segment (rotor blade extension, efficiency improvement), plus 10% personnel expenses in project development business)

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"Sustainability is at the heart of our strategy: Our mission is to help businesses meet their energy challenge -keep global warming below the 2°C limit- while achieving better operational efficiency."

Products

- EcoStruxure technology platform: IoT systems for real-time data measurement, communication, analysis and control.
- Medium voltage technology for the integration of local power grids (power sourcing and delivery), EV charging stations
- Cooling of data centres: hardware, software
- Frequency converters for electric motors, controllers

Share of company sales generating positive impact: >70%

Research and development expenditure: 2.8%

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"Research & development: At ANDRITZ, sustainability stands above all for solutions that help customers to achieve their sustainability goals and make use of resources as economically and efficiently as possible. Research and development work thus also concentrates to a large extent on developing products of this kind."

Products

- Hydroturbines as alternatives to fossil power stations
- Boilers for biomass and waste
- Wool pellet fabrication
- Exhaust gas scrubbers
- Biogas production, pyrolysis
- Sludge drying for incineration
- Presses for composite material sheets (carbon)

Share of company sales generating positive impact: 60%
(45% related to renewable energy)

Research and development expenditure: 3%

Other aspects & engagement

Andritz has a very high share of sales in developing and emerging countries. The company brings technology and energy generating equipment that contributes to a environmental friendly growth.

Source: Extract from Carnot impact analysis

 
 

Climate Action Considerable Impact

Strategy

"Sustainability is part of AFRY’s business strategy and a prerequisite for AFRY’s business as a whole. We connect technologies to create sustainable progress for you."

Products

AFRY contributes to creating a sustainable society by finding new solutions which are efficient and resource saving. AFRY's projects create value for clients, society and shareholders. Prioritised aspects of sustainability are:
- Develop its service offering towards impact
- Create impact and local community level

Share of company sales generating positive impact: >60%

Research and development expenditure: 20%

(a substantial share of AFRY's activity is part of r&d expenditure on the client's side)

Other aspects & engagement

Signatory to SBTI and Net-Zero. AFRY helps companies become sustainable using, among other things, environmental impact quantification models.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"We will deliver on our commitments to reduce our impact on the climate. We are committed to changing mindsets and outcomes in our own business, among our customers and our suppliers to achieve our targets.
Our goal: to halve our carbon footprint."

"Our products should contribute as much as possible to reducing the environmental impact of customer processes, and they should also be recyclable."

Products

- Metal for supercritical water gasification
- Metals for solar thermal power production
- Additive manufacturing technology and materials
- Drilling technology for highly productive mining (hard- and software)
- Battery-electric mining loaders and transporters
- Light-weight titanium materials for airplanes
- Process technology for fuel cells

Share of company sales generating positive impact: 60%

Research and development expenditure: 3.7%

Other aspects & engagement

Large activities in mining, which is fundamentally a critical industry and where a lot of negative impact is also generated. This is precisely why sustainability is a central pillar of the strategy. Sandvik belongs to various sustainability indices and is a member of the UN Global Compact.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"Hexagon's technologies are shaping urban and production ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future."

Products

- Sensors (incl. cameras, laser)
- Monitoring equipment
- Precision positioning
- Metrology systems
- Software (CAD, CAM, CAE)

Share of company sales generating positive impact: >70%

Research and development expenditure: 12%

Other aspects & engagement

Hexagon has activities in the defence market. The activities amount to less than 5% of business. We have started a dialogue with the company with the aim to reduce these activities over time.

Source: Extract from Carnot impact analysis

 
 

Climate Action Significant Impact

Strategy

"We remain focused on developing solutions that accelerate the energy transition and strengthen Vestas’ continued leadership in wind."

"Our goals are carbon neutrality by 2030 without carbon offsets, zero waste turbines by 2040."

Products

On-shore and off-shore wind turbines.
"A single Vestas wind turbine will generate around 25 to 50 times more energy than it uses in its entire lifecycle and return this back to society. And, a single Vestas wind turbine only emits around one percent of carbon dioxide when compared to a coal power plant."

Share of company sales generating positive impact: 100%

Research and development expenditure: 2.3%

Other aspects & engagement

Signatory of the SBTI for 1.5 degrees and committed to zero carbon emissions.

Source: Extract from Carnot impact analysis

 
 

Climate Action Significant Impact

Strategy

"Chart aims to be a leading supplier of technologies, equipment and services in the fields of liquefied natural gas, hydrogen, biogas and CO2 capture, and thus a pioneer of the energy transition."

Products

- Air-cooled heat exchangers: unused heat is put to good use, resulting in increased energy efficiency and reduced raw material consumption.
- Carbon capture, utilization & storage: reduces carbon emissions from fossil fuel-fired power plants by 95-99%.
- Hydrogen as a safe, clean and affordable alternative to fossil fuels: Hydrogen liquefaction plants, transport solutions & refueling stations.
- Biogas liquefaction plant: can be used at source for power generation, refueling of natural gas vehicles and bunkers

Share of company sales generating positive impact: 30%

Research and development expenditure: 0.8%

Other aspects & engagement

Chart Industries has a sound sustainability strategy and assesses impacts of its business against the SDGs.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

The strategy supports the reduction of energy use.
Strategy: development of market leading high-performance polymers.
"In the High Performance Polymer sector we develop, manufacture and market high-performance engineering plastics for demanding technical applications."
These products lead to a substantial weight reduction in vehicles and thus to lower fuel consumption.

Products

- High-performance polymers with very high rigidity and temperature resistence that replace metal and reduce the weight of these compoenents by up to 2/3. Lower weight means less fuel consumption.
- Castor oil derivatives, a fully renewable resource, and are therefore originated from a non food crop

Share of company sales generating positive impact: 35%

Research and development expenditure: 2.5%

Other aspects & engagement

CO2 neutrality achieved in 2020.
Heat and power procured from Switzerland's biggest biomass power plant.
Almost no employee layoffs during automotive down-cycles.
Employer and instructor of refugees in Switzerland.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

Stadler Rail's strategy is to develop and produce innovatove rail vehicles.
It's growth strategy helps expand the energy-efficient rail transport.
Part of the strategy is to reduce energy consumption of the vehicles: "The company works tirelessly to improve the energy efficiency of its products in operation."

Products

- Components and vehicles for rail transport
- Innovative concepts such as battery and fuel cell powered locomotives

Share of company sales generating positive impact: 100%

Research and development expenditure: 2%

Source: Extract from Carnot impact analysis

 
 

Climate Action Significant Impact

Strategy

"We promote the development and dissemination of environmentally friendly technologies."

Products

- Transducers for variable speed motors
   - for electric rail vehicles
   - for inverters in wind and solar power stations
   - for electric cars

Share of company sales generating positive impact: 80%

Research and development expenditure: 9.1%

Other aspects & engagement

Lem is a global technology leader in a key technology in the electrification process.

Source: Extract from Carnot impact analysis

 
 

Climate Action Significant Impact

Strategy

"In our Group-wide HSE Policy we commit to minimizing or preventing harm to people and the environment arising from our processes, services and products.
One focus of our commitment to the environment is climate protection.
Knorr-Bremse concentrates most of its climate protection activities in the areas of products, logistics and energy."

Products

- Rail vehicles, for which Knorr-Bremse is a key supplier, are a very energy efficient transport means.
- Brakes with better performance allow higher speeds and longer trains, which increases the rail capacity.
- Real-time system to measure and optimize the energy consumption.
- Breaking and security systems for driverless trains.
- Brakes that can be remanufactured (award winning innovation), service for remanufacturing (29% of service revenue)

Share of company sales generating positive impact: 70%

Research and development expenditure: 5.7%

Other aspects & engagement

Knorr-Bremse uses detailed Eco-design guidelines to minimize the footprint of the products.
They reach from strategic planning to innovation and product design.
50% reduction of greenhouse gas emissions until 2030, procurement of renewable energy from 2021 on.

Source: Extract from Carnot impact analysis

 
 

Climate Action Considerable Impact

Strategy

"Climate change and scarcity of resources ar global megatrends which form the basis for Norma Groups's business model."

Products

Lightweight connectors and other fluid management components for
   - the thermal management of batteries in electric vehicles
   - the thermal management of charging sockets and charging stations
   - the thermal management of fuel cells
Water saving irrigation systems

Share of company sales generating positive impact: 60%

Research and development expenditure: 4.7%

Other aspects & engagement

Norma has a very comprehensive sustainability management and reporting system.
The products are essential for electromobility as well as for low-loss water infrastructure.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"We aim to increase fuel economy, reduce emissions and improve engine control through our technical solutions and precision engineering."
'The Group's environmental activities shall be integrated in all operations and shall be the subject of continuous improvement through the Concentric Business Excellence programme."

Products

- Energy-efficient oil pumps for on-highway trucks and heavy off-highway vehicles
- Optimized hydraulic pumps for agricultural and construction vehicles
- Electric coolant pumps for hybrid vehicles
- Coolant pumps for stationary batteries

Share of company sales generating positive impact: 90%

Research and development expenditure: 2.5%

Other aspects & engagement

Engagement-Call held for more determined development towards electrified commercial vehicles with electric pumps, cooperations, acquisitions.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"The Melexis strategy is to step up our presence in hybridization and electrification applications. We aim to grow in other markets, particularly in alternative mobility and in health, medical, computing, data center, telecom infrastructure and robotics applications.
Our strategy is set against several global megatrends. One key trend is an increasing and ageing population. Another is that the world, while it must find a way to meet growing demand, also needs to continue the fight against climate change and seek solutions for both CO2 and power consumption reduction."

Products

- High-temperature sensors for motors and exhaust systems in down-sized motors; saves ca. 15% fuel consumption
- Sensors for electric steering, replacing hydraulic steering
- Battery management sensors for electric vehicles
- Sensors for variable speed ventilators; saves ca. 40% electricity

Share of company sales generating positive impact: 40%

Research and development expenditure: 15.3%

Other aspects & engagement

Melexis follows the Global Reporting Initiatiative (GRI) reporting standards. The CEO and CFO positions are held by women.

We discussed potential conflicts of interests in the shareholder and supplier structure. The answers were satisfactory.
We requested a strict and transparent management of these conflicts of interest.

Source: Extract from Carnot impact analysis

 
 

Climate Action Substantial Impact

Strategy

"Cummins' next generation environmental sustainability strategy looks out to 2050, setting quantifiable goals for 2030.
Reduce scope 3 absolute lifetime GHG emissions from newly sold products by 25%.
Partner with customers to reduce scope 3 GHG emissions from products in the field by 55 million metric tons."

Products

- Buildings: Intelligent monitoring and control of energy use (smart building)
- Electricity: Grid technology, substations, grid management, grid connection of wind parks
- Industry: Highly efficient and intelligent electric motor drives, frequency converters, robots, industry automation (industry 4.0)
- Transport: Charging infrastructure, electricyty supply for rail vehicles

Share of company sales generating positive impact: 20%

Research and development expenditure: 3.7%

Other aspects & engagement

Cummins is a market leader in heavy vehicle powertrains and is investing heavily to drive the transition to clean technologies.

Source: Extract from Carnot impact analysis

 
Building Technology
Industry
Transport
 
  Significant Impact
  Substantial Impact
  Considerable Impact
  Low Impact