Doing well by doing good: Siemens again ranked on Fortune’s ‘Change the World’ List

Thursday, August 30, 2018 3:31 pm EDT

By:

Barbara Humpton, CEO of Siemens USA

Fortune’s 2018 “Change the World” list showcases how companies are “using the profit motive to help the planet and tackle social problems.”

Two years ago, Siemens was recognized for endeavoring to achieve a net-zero carbon footprint by 2030 (we’re already more than a quarter of the way there). This year, Siemens was again recognized as one of 50 companies – chosen across 19 countries – applying both resources and funding towards positively impacting the world. 

The judges wrote: “Building prototypes for machinery takes a lot of time and creates a lot of waste. Additive manufacturing, a.k.a. 3D printing, reduces both, and Siemens, which makes everything from locomotives to medical X-ray machines, has embraced it avidly. Siemens says additive techniques have enabled its gas- and steam-turbine unit to reduce development time by 75% and use an average of 65% fewer resources in the production process. The company also makes and sells software that helps customers reap similar 3D rewards.”

Our commitment to this effort will remain unwavering; not because of regulations or international treaties, but because both the world and our customers depend on it. We’re pursuing this because we believe it’s the right thing to do. But we also want to show that reducing environmental impact is a good business decision. It’s important to Siemens to demonstrate that the technology to drastically reduce emissions is already in the marketplace.

There are fuel-efficient gas turbines for power providers. There are optimized drive technologies for industrial companies. There are automation solutions for building owners.

And that’s another important piece of building the case for sustainability: from a business perspective, you’re not only doing what’s right for future generations; you’re driving out costs and optimizing technology to improve overall performance and further innovation.

For Siemens, sustainability is still only one piece of our broader Business to Society vision to tackle the world’s biggest challenges as part of our core business strategy – from training workers for the digital economy, to developing life-saving technology and securing critical infrastructure. Our business strategy focuses us on global megatrends such as climate change, urbanization and changing demographics that are of monumental concern to the world.

There is always more to be done –we are constantly pursuing new solutions and technologies that create value for society. Yet it’s truly an honor to take a moment and be recognized as a change-maker, one that is embarking on a smarter business model that re-imagines how to build new markets and contribute to a thriving society and planet. 

To learn more about Fortune’s “Change the World” list, visit their website.

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