GFT advances from C to B in CDP Climate Change Rating

Stuttgart, 15 April 2024 – Digitalization group GFT Technologies (GFT) has been awarded a B rating by CDP in their 2023 climate change score report. This marks a major improvement over the company’s C rating in last year’s report. The improved rating also puts GFT clearly ahead of the IT and software sector average C rating.

Two major factors for GFT’s improved rating were the ambitious goals for reducing greenhouse gas emissions and increased transparency of disclosed information.

Regarding greenhouse gas emissions, the company is committed to reducing its operational greenhouse gas emissions (Scopes 1 and 2) by 50 percent by 2030, with 2020 as the base year. Additionally, GFT aims to cut the emissions produced throughout its value chain (Scope 3) by 60 percent per Euro of value added within the same timeframe.

Both targets have been validated by the independent Science Based Targets initiative (SBTi) as being consistent with the latest climate science. Therefore, GFT's objective aligns with the Paris Climate Agreement's mandate to cap global temperature rise at 1.5 degrees Celsius.

By setting these SBTi-validated climate objectives, GFT has demonstrated ambition and commitment to action in the area of climate change.

Said GFT’s CFO Jochen Ruetz: “GFT's jump from C to B in the CDP score speaks to our practical efforts, not just words. Focused goals and clear reporting have us outperforming the average in our industry. We believe in action and transparency for real change.“

Concrete steps that GFT has taken to reduce greenhouse gas emissions include initiatives to improve energy efficiency in GFT offices and to increase the share of renewable energy in the company’s mix. This means that for example, highly efficient LEDs have replaced older light sources, that heating and lighting systems have been reprogrammed to avoid unnecessary energy consumption and that for new office locations, energy-efficient buildings are being selected. As for the use of renewable energy, GFT offices are supplied with electricity from renewable energy sources. Additionally a newly installed PV system at GFT’s Stuttgart headquarters – the only building actually owned by GFT – will increase this share.