GEA Group AG

While responsibility for executing our Climate Transition Plan 2040 remains squarely on the shoulders of the Executive Board, the vote of our shareholders at the Annual General Meeting every three years ensures greater transparency and accountability vis-à-vis our investors. [...] All activities related to the Climate Transition Plan 2040 – along with other sustainability matters – are consolidated within the Sustainability department, which has global responsibility. This department is led by the Chief Sustainability Officer (CSO), who reports directly to the CEO and is a member of the Global Executive Committee (GEC) – GEA's extended management circle that includes not only the Executive Board but also the CEOs of divisions and sales regions, as well as the Head of Human Resources. [...] The cross-functional Sustainability Committee actively involves the global functions and operating divisions in the implementation of sustainability measures. The Sustainability Committee is headed by the CSO and is made up of representatives from various departments, notably the divisional Heads of Sustainability, the Head of Sustainable Operation, representatives from Human Resources, as well as employees from Investor Relations and IT. This ensures that operational decisions on implementing the Climate Transition Plan 2040 are coordinated across divisions and functions.

Furthermore, the Chairman of the Supervisory Board and the Presiding and Sustainability Committee (formerly the Presiding Committee), the Chairwoman of the Audit Committee, and the Chairman of the Innovation and Product Sustainability Committee (formerly the Innovation Committee) all maintained regular contact with the Executive Board. Between meetings, the Chairman of the Supervisory Board and the CEO regularly discussed matters of strategy, planning, business progress, risk exposure, risk management, compliance and sustainability. [...] The Presiding and Sustainability Committee and the Audit Committee each usually meet four or five times during the fiscal year. [...] The work of the Presiding and Sustainability Committee focuses on Executive Board matters, including issues related to succession and remuneration, although decisions on the remuneration system for the Executive Board, the total remuneration awarded to the individual Executive Board members as well as their appointment and dismissal are reserved for the full Supervisory Board. The Presiding and Sustainability Committee addresses corporate governance issues and certain transactions requiring approval. These include the approval of significant transactions between the company, on the one hand, and Supervisory or Executive Board members and their related parties, on the other. [...] The Presiding and Sustainability Committee's responsibilities also include addressing – together with the Executive Board – the company's strategy, particularly the sustainability strategy (as well"
"Within the Supervisory Board, the Presiding and Sustainability Committee (formerly called the Presiding Committee) is responsible for the sustainability strategy and fundamental environmental, social and governance (ESG) issues, including their implementation. Topics such as technical and product-related sustainability have been assigned to the Innovation and Product Sustainability Committee (formerly known as the Innovation Committee), while the topics of taxonomy and sustainability reporting are the responsibility of the Audit Committee. The rules of procedure of the Supervisory Board and the committees have been adapted accordingly.

In 2022, GEA set up a Sustainability Committee. The Executive Board tasked this cross-functional body with addressing sustainability matters relevant to GEA and actively involving the operating business units in implementing sustainability measures. This applies in particular to strategic and operational decisions regarding implementation of the measures at cross-divisional and cross-functional level. The Committee acts as a central body for all sustainability-related issues in every business area. Consequently, it forms a link between the global functions, the divisions and the Executive Board. This ensures a coordinated approach at all levels. We likewise have the capacity to accelerate implementation or – in the event of delays – apply measures at short notice, which are also coordinated across all levels. The Sustainability Committee is chaired by our Chief Sustainability Officer (CSO), who reports directly to the Executive Board. The Committee includes permanent representatives from the Sustainability, QHSE, Finance, Indirect and Direct Procurement, Production, Investor Relations and IT departments as well as from each division. Where necessary, other specialist departments are also consulted. The Committee holds regular quarterly meetings, as well as convening to address specific matters, and essentially fulfills the following core tasks: reviewing and, if necessary, approving any changes to sustainability management (processes, structure, content), including amendments to the list of sustainability indicators. In addition, it is responsible for finalizing initiatives and specific instructions for the relevant global functions, departments and senior management to achieve the sustainability targets, which are then forwarded to the Executive Board and extended management circle for approval. At the same time, the Committee prioritizes the projected sustainability initiatives, sets the relevant budgets and continuously evalu

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]GEA is one of the few European machine manufacturers to have set any science-based targets to-date. "This climate strategy puts us ahead of the competition,† says Stefan Klebert,
CEO of GEA. "It really is one of the most comprehensive and ambitious climate strategies in the mechanical and plant engineering sector and involves the entire value chain, enabling us to reduce both direct and indirect emissions. It is therefore consistent with our corporate purpose of 'Engineering for a better world'.† With the goal of achieving progress in climate protection, GEA has joined the World Economic Forum (WEF) Alliance of CEO Climate Leaders, a global community of CEOs from major corporations across different industries. Its aim is to facilitate the transition to a net-zero economy by encouraging action across all sectors and engaging with policymakers. The Alliance was founded by the WEF to support the Paris Climate Agreement and inspire companies to take bold climate action by setting ambitious targets, reducing their own emissions and encouraging others to do the same.

On top of that GEA is an active supporter of the International Standard Sustainability Board contributing during workshop sessions.

All engagement activities on climate change are headed by or at least aligned with the Chief Sustainability Officer who directly reports to the CEO.

Describe the process(es) your organization has in place to ensure that your external engagement activities are consistent with your climate commitments and/or climate transition plan?[…]GEA is not only transforming its own business model in the direction of decarbonization but is also publicly committed to more climate protection and to limiting global warming to as close to 1.5 degrees Celsius as possible compared to pre-industrial time - in accordance with the Paris Agreement. We regularly exchange views with our stakeholders on our positions on climate protection and represent them in our international committee work. In doing so, we check whether the positions of our member organizations fit with our strategy and stance. We also take an active role in sharing our experience and knowledge and taking others along on the journey.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes