Luca Dalla Torre, Chief Legal and Sustainability Officer speaks about how sustainability is part of daily business, our key achievements and plans for the future.
Sustainability is one of Siegfried’s corporate values. How is this reflected in day-to-day operations?
At Siegfried, sustainability is deeply embedded in our daily operations through a clear strategy,
robust governance framework and measurable targets. Central to this effort is our Corporate
Sustainability Board (CSB), established in 2021, which is responsible for overseeing ESG issues
and implementing our sustainability strategy. This cross-functional team reports semi-annually to both the Executive Committee on operational ESG issues and the Board of Directors on strategic matters.
Siegfried’s sustainability strategy, which shapes our daily actions and decisions, is guided by three key pillars: environmental sustainability, customer collaboration, and fostering integrity, culture, and people. We strive to improve operational efficiency and reduce our ecological footprint through continuous efforts to optimize energy use and minimize waste. In collaboration with our customers, we develop innovative, sustainable products and solutions that align with shared goals for a greener future. Internally, we prioritize building a values-driven workforce, fostering a culture of integrity, and creating a collaborative environment that empowers our team to thrive.
Sustainability is also integrated into our remuneration policy, with ESG-related targets embedded in our short-term incentive plan. These targets encompass environmental goals like recycling and waste management, social objectives such as health and safety initiatives and employee training, and governance priorities including supply chain integrity and ESRS reporting. ESG performance accounts for up to 15% of the incentive weighting, demonstrating its importance in driving our corporate objectives.
By combining structured governance, a strategic sustainability framework, and measurable targets, Siegfried ensures sustainability is not just a corporate value, but a guiding principle in our everyday actions.
What were the key achievements related to sustainability at Siegfried in 2024?
A significant milestone in 2024 was the submission of Siegfried’s greenhouse gas (GHG) reduction targets to the Science Based Targets initiative (SBTi). By 2033, Siegfried aims to reduce Scope 1 and 2 emissions by 66.89% (from 2020 levels), decrease key Scope 3 emissions by 32.5% (from 2022 levels), and ensure that 85% of its suppliers adopt science-based targets by 2029. Looking ahead, the company is committed to achieving net-zero emissions across its value chain by 2050, targeting a 90% reduction in Scope 1, 2, and key Scope 3 emissions (from 2022 levels). These ambitious targets are currently under review by SBTi, with validation expected in early 2025.
Complementing this commitment, Siegfried launched several initiatives to drive decarbonization. This included developing a comprehensive site decarbonization roadmap, collaborating with customers to decarbonize the production of its most impactful product, and offering product carbon footprint calculations as a service. We also partnered with customers for detailed ecological footprint analyses and engaged equipment suppliers to improve data collection. Specific site-level measures, such as installing over 6,800m² of solar panels at the Barberà del Vallès site, are actively reducing energy consumption and GHG emissions.
These efforts were recognized with Siegfried maintaining all its sustainability distinctions, including being named a member of the Dow Jones Best-In-Class Europe Index (formerly Dow Jones Sustainability Index Europe) for the fourth consecutive year and receiving a low-risk rating from Sustainalytics and Morningstar.
How will Siegfried continue this momentum in 2025?
In 2025, we are committed to advancing our decarbonization roadmap across both our drug
substances (DS) and drug products (DP) sites. This includes exploring innovative technologies,
such as high-temperature heat pumps, green hydrogen, and biogas solutions. We aim to further expand the use of renewable electricity to cover all remaining sites and work to reduce the carbon footprint of supplied steam.
Collaboration will also play a key role in our efforts. We plan to engage with customers, suppliers, and industry networks to monitor product carbon footprints and prioritize actions within our product and raw material portfolio. These initiatives are integral to achieving meaningful reductions and supporting our broader sustainability goals.
Like all companies subject to the Corporate Sustainability Reporting Directive, we are preparing internally to adopt the European Sustainability Reporting Standards for the 2025 reporting period.