ABB publishes 2023 Integrated Report - Seite 2

Commenting on ABB’s achievements in 2023, CEO Björn Rosengren said: “2023 was a record year for ABB. We delivered strong performance and as a technology leader in electrification and automation, ABB continued to play a key role in accelerating the energy transition for a net-zero future. Our solutions helped to optimize, electrify and decarbonize industry, buildings, power and transport – sectors that together account for the lion’s share of global energy-related carbon emissions. By doing this, we made the ways we move, produce, work and live more sustainable and we continued to make good progress towards achieving our sustainability targets. I am proud of the ABB team for delivering such good results and creating value for all our stakeholders.”

Good progress towards sustainability goals

As part of ABB’s efforts to enable a low-carbon society, the company submitted updated CO₂e emissions reduction targets aligned with the Net-Zero Standard of the Science-Based Targets initiative (SBTi) for validation. These targets include ABB’s scope 1 and 2 emissions, which it aims to reduce by 80 percent by 2030 and 100 percent by 2050, compared to a 2019 baseline, as well as its scope 3 emissions, covering the rest of its value chain, which it aims to cut by 25 percent by 2030 and 90 percent by 2050, compared to a 2022 baseline. 

In 2023, ABB achieved a reduction of 76 percent in its scope 1 and 2 emissions compared to 2019 and scope 3 emissions stayed flat compared to 2022, based on measured energy loss (representative scenario). When calculating based on energy input (strict scenario) the company reports an 11 percent increase in scope 3 emissions compared to 2022. 

The company also reduced its energy consumption by 21 percent compared to 2019. At the end of 2023, 64 percent of ABB’s energy consumption and 94 percent of its electricity came from renewable sources. 

In 2023, the products ABB sold to customers will avoid 74 megatons of emissions over their lifetime. This contributes to the company’s ambition to support customers in avoiding 600 megatons of GHG emissions from 2022 to 2030, based on all the products the company expects to sell over that period.