SEFE has published its first Sustainability Report. The report sets out the company’s environmental, social and governance (ESG) progress in 2023, establishes its emissions baseline, and sets clear targets for the future. It makes clear SEFE’s commitment to transforming its business, driving the energy transition, and helping its customers to decarbonise.
SEFE is taking action to reduce emissions in its operations: In 2023, SEFE installed a continuous methane leakage detection system at the Rehden storage site in Lower Saxony, following the successful completion of a system at Jemgum in 2022. The company is also putting in place the necessary foundations for the low-carbon hydrogen infrastructure of the future, including planning for hydrogen storage caverns in Germany.
CEO Dr Egbert Laege said: “Having a rigorous approach to ESG is an important part of being a good corporate citizen, guiding how we act with respect for the environment, people, and communities. But it is also essential for SEFE’s success as we transform our business and drive forward the energy transition. I am pleased that we have already made progress in 2023.”
The company has ambitious targets for the future. They include a 50 per cent reduction in Scope 1 and 2 emissions by 2030 and net zero by 2040. SEFE also targets a 15 per cent reduction in Scope 3 emissions by 2030, plans to sell over 25 Terawatt hours of low-carbon energy per year from 2030 and to develop material hydrogen capability in line with expected market demand.
Dr Laege: “We are committed to becoming a European major in the global low-carbon economy. We will support our customers and partners by providing competitive, affordable, innovative, and flexible solutions for decarbonisation.”
The Sustainability Report 2023 also covers the key social and governance measures undertaken by SEFE in the reporting year. The company has already achieved its 2025 target for a minimum of 25 per cent of senior leadership positions to be held by women and has the ultimate goal of gender parity. Also, the company introduced a new Code of Ethics and Business Conduct in 2023, setting out the high standards that guide its activities. Furthermore, SEFE recently became a signatory to Germany’s largest workplace diversity initiative, ‘Charta der Vielfalt’.
The Sustainability Report 2023 is available on the SEFE website.
About SEFE
SEFE, an international energy company, ensures the security of supply and drives the decarbonisation of its customers. SEFE’s activities span the energy value chain, from origination and trading to sales, transport and storage. Through its decades-long expertise in trading and the development of its LNG business, SEFE has become one of the most important suppliers to industrial customers in Europe, with an annual sales volume of 200 TWh of gas and power. Its 50,000 customers range from small businesses to municipalities and multinational organisations. By investing in clean energies and especially in the hydrogen ecosystem, SEFE is contributing to the energy transition. The company employs around 2,000 people globally and is owned by the Federal Government of Germany.
Securing energy – now and for the future.
