#G+D World #Annual Report

Sustainability is at the heart of our corporate strategy

Annual Report
5 Mins.

As a global company, we at G+D are responsible not only for our customers and employees, but also for the impact of our activities on the world in which we and future generations will live. We take this responsibility very seriously. Sustainability is therefore a key element of our corporate strategy. Across all business areas, we are taking concerted and structured action to protect the environment and have a positive impact on society – because we firmly believe that sustainable conduct is vital for safeguarding the future viability of our company and of the world around us.

The major challenges of our time can only be tackled through sustainable transformation of the economy and society and also of our current way of life. These challenges involve climate and environmental protection as well as issues of global equity through the fair distribution of resources, prosperity, and quality of life.

Global companies like G+D have a particularly important role to play in this transformation. Through their economic activities and with their products and services, they impact the environmental and living conditions of billions of people. They therefore have a responsibility to ensure that these conditions are sustainable. At G+D Our position is clear: a commitment to sustainable conduct is vital for creating long-term value – for our company and for the world in which we live. “Sustainability is the key to responsible, forward-looking corporate governance. By protecting assets that are important to people and at the same time conserving the planet’s resources for coming generations, we are investing in the future and also strengthening the trust of our customers in our solutions. Sustainable conduct is vital for achieving long-term success and making a positive impact on our society,” says Dr. Ralf Wintergerst, CEO of Giesecke+Devrient.

group of happy people sitting in a conference room

Sustainability is integral

G+D has made sustainability a key element of its corporate strategy and set itself specific targets to bring about lasting change within the organization. We want to make the right decisions today so that our company is able to help create a more sustainable future. Our aims  are ambitious. Among other things, we will

  • significantly reduce our ecological footprint
  • romote diversity, equity, and inclusion in our company
  • set high ethical standards for our business activities across all areas

When making the necessary changes to our business, we are guided by the Sustainable Development Goals adopted by the United Nations in 2015.

A top priority

Maintaining a strong strategic focus on sustainable transformation of the company and its portfolio is critical for G+D. Accordingly, sustainability management is headed by CEO Dr. Ralf Wintergerst, with the dedicated Corporate Sustainability function handling the operational aspects. A broad-based organizational structure ensures that sustainability has high priority in all business units and across all locations. G+D benefits here from managers and staff being fully on board with its sustainability strategy and associated measures.

Our aim is to be a leader on ecological and social issues within our markets and help to create a healthy environment and a fulfilling society by doing business responsibly. Our understanding of sustainability is based on three pillars: environmental, social, and governance (ESG).

high glass building with forest animation in frog perspective

Decarbonization for climate protection

Given the challenges of climate change, decarbonization of all our business activities is a key element of our commitment to sustainability. Our ambitious plan is to reduce our Greenhouse Gas (GHG) emissions to net zero by 2040. As an intermediate step, we aim to achieve a 42 percent reduction by 2030 compared with 2022. To achieve these targets, G+D has developed a decarbonization roadmap for the company based on the internationally recognized criteria of the Science Based Targets initiative (SBTi). “We have deliberately chosen science-based targets because we know that only an absolute reduction of GHG emissions will mitigate the climate crisis,” says Andreas Lamina, Head of Corporate Sustainability.

The decarbonization roadmap is just one example that shows our sustainability targets are just as important to us as our financial and economic targets – and that we take the same systematic approach towards achieving them. We are investing in sustainable remodeling of our production processes and in developing sustainable solutions for our customers. 

“Products that are more environmentally friendly support our customers’ sustainability agendas, reflect the wishes of consumers, and are good for our own company and for environmental protection.“
Andreas Lamina
Head of Corporate Sustainability, G+D

Our decarbonization efforts cover direct emissions, which are mainly generated at our production sites, and indirect emissions, which come from the generation of purchased energy and from our supply chain. It is crucial that we reduce our carbon footprint directly and genuinely, thereby making an effective contribution towards protecting the climate. That is why we consciously avoid carbon offset programs like carbon reduction certificates, preferring instead to focus on specific, tangible reductions and sustainable replacements.

What we achieved in 2023 – three examples

  1. Converting to 98 percent green electricity worldwide

    In 2023, G+D again made good progress on many sustainability-related projects. One important milestone was the switch to 98 percent green electricity across all locations, with 100 percent set to be reached in 2024. This enables us to save more than 54,000 metric tons of CO2 equivalents each year – an amount that roughly corresponds to the per capita emissions of 7,000 EU citizens. In addition to generating some of our own energy on-site, such as in Malaysia through solar modules, we rely on Guarantees of Origin (GO) to ensure that we use renewable electricity efficiently and transparently. Among other things, they document how and when a specific amount of electricity is generated. G+D’s annual power consumption is fully covered by a corresponding number of GO certificates. By using green electricity, G+D is taking a major step closer to its goal of climate neutrality while at the same time supporting producers of renewable energy. 

  2. Talent development program for long-term business success

    For a security tech company like G+D, it is crucial not only to retain qualified employees but also to attract and develop new, talented individuals who are eager to help shape the future of G+D. In 2023, a key focus of our sustainability strategy was on improving employee potential and introducing specific measures to boost their skills and prepare them for new challenges. Our Group-wide talent development program, for example, encourages employees to take on more responsibility within G+D. When selecting new talent, it is important for us to reflect the diversity in the Group. In 2023, the 29 talented employees in this program included 11 different nationalities from various G+D locations worldwide, with an equal proportion of women and men. We strongly believe that diversity (e.g. different sexes, cultures, life experiences, mindsets) is key to the success of our company. 

  3. Global application of the Code of Conduct

    The Group-wide Code of Conduct provides the foundation for all our business activities. It was updated in 2023 and rolled out across all locations. The Code reflects G+D’s corporate values – innovative, reliable, collaborative – and applies to all our dealings with business partners and each other. Alongside integrity, the protection of essential assets and respect for social standards and human rights, the Code defines G+D’s responsibility to society. With the updated version, we have taken the Code of Conduct to a new level in order to create confidence in our company everywhere and at all times. 

Green products drive transformation

The transformation of our company towards greater sustainability is also evident in our product portfolio. Here too, G+D is a pioneer in its industry. Increasingly, sustainable products are securing the future viability of G+D. “When it comes to sustainability, focusing on products pays off in a number of ways. Products that are more environmentally friendly support our customers’ sustainability agendas, reflect the wishes of consumers, and are good for our own company and for environmental protection,” says Andreas Lamina. 
G+D is set to replace all virgin plastic in its payment card products by 2030. Recycled, industrially compostable, or biodegradable materials will be used instead. For cash transactions, we are producing green banknotes made from natural fibers. In this context, G+D launched the Green Banknote Initiative (GBI) in 2022 with the aim of optimizing the sustainability of banknotes through the use of alternative fibers, the development of new printing inks, and the use of other recycled raw materials. We are also using digitalization as a driver of our green transformation. Digital twins of analog products (e.g. eSIM and iSIM) significantly reduce consumption of resources and energy. In the identity solutions field, we will start producing environmentally friendly ePassports in 2024, leveraging efficient manufacturing techniques, environmentally friendly materials, and low-carbon transport. 

a group of happy people sitting together and discussing

Transparent reporting

G+D’s transformation into a more sustainable company is a challenging task, but one that we are highly committed to tackling. We ensure our targets, actions, and progress in this field are documented transparently and comprehensibly. To support this endeavor, G+D has expanded its sustainability reports accordingly over recent years. These reports are based on international standards and now meet a wide range of reporting requirements. Starting in 2024, we will comply with the reporting requirements of the EU-wide Corporate Sustainability Reporting Directive (CSRD) in our annual sustainability report. The directive helps companies to measure and compare progress more effectively.

“We will gradually continue our sustainability transformation process throughout 2024,” says Andreas Lamina. Further decarbonization of our activities, increasing the number of female managers, and extensive training on compliance and data protection are all on the agenda for 2024. From this year onwards, management will also be regularly assessed on how successfully they are meeting the sustainability targets in their business areas. Progress made towards achieving sustainability targets will be a core criterion for variable remuneration. “We know that our sustainable transformation is a marathon, not a sprint. But we’ve already come a long way.”

Published: 11/04/2024

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