- Morningstar Sustainalytics, a global ESG data, research and ratings provider, rates Techem's ESG risk at 9.6 and thus as "negligible"
- Internationally, this puts Techem in the top 3 percent of over 16,000 companies
- Within the sub-industry "Business Support Services," Techem ranks 6th out of 186 worldwide
ESCHBORN, Germany, Oct. 16, 2024 /PRNewswire/ -- Techem, one of the leading energy service providers in the real estate industry, has been awarded an ESG risk score of 9.6 by Morningstar Sustainalytics, a global ESG data, research and ratings provider, and thus a "Negligible Risk" for the second time in a row. This means the Eschborn-based energy service provider once again ranks in the best possible of five categories and remains among the top 3 percent of over 16,000 companies from various sectors internationally. Within the sub-industry "Business Support Services," Techem came in 6th place out of 186 and within the "Commercial Services" industry in 50th place out of 475 companies worldwide.
ESG risk rating as a reliable indicator for the economy
The ESG risk rating is comprised of the assessment of the ESG risk exposure and the corresponding management. With a score of 27.5 in the area of ESG risk exposure ("Low") and 68.2 in the area of ESG risk management ("Strong"), Techem is at the top in both cases. ESG risk management was assessed on the basis of eight different criteria, with Techem achieving the best results in the areas of "emissions, wastewater and waste", "data protection" and "cyber security".
"As a partner at eye level, we support our customers in facing the challenges of the energy transition and contribute to the decarbonization of the building stock both along our value chain and with regard to our sustainability-related activities. We have aligned our sustainability program with clear targets and key figures, thus ensuring the effective implementation of our sustainability strategy," explains Techem CFO Dr.-Ing. Carsten Sürig.
Strong partners in achieving sustainability goals with TPG and GIC
At the beginning of October, TPG Rise Climate, a fund specializing in climate investments as part of TPG's global impact investing platform, and GIC, a leading global investor in infrastructure, signed an agreement to acquire the Techem Group. TPG Rise Climate, one of the world's largest private equity funds for global climate solutions, invests in companies like Techem, which has an increasingly comprehensive decarbonization offering driven by new digital services and is consistently driving this forward. Together with its new partners TPG and GIC, Techem will now build on this foundation and further expand and advance its position as a leading platform for the digitalization and decarbonization of the building sector in Europe. Techem will also benefit from TPG's and GIC's expertise in effective decarbonization in achieving its own ambitious sustainability goals and thus build on the successful efforts of the previous year.
"Regulatory authorities, banks and investors are increasingly pushing for clear sustainability strategies and are therefore making companies more accountable. For Techem, the ESG Risk Rating is therefore an important indicator of our sustainability performance and a key source of information for capital markets and investors. With TPG and GIC, we now also have strong new partners who will help us make important progress in implementing our sustainability strategies," Sürig emphasizes.
ESG at Techem: a holistic approach
In fiscal year 2022 / 2023, Techem focused even more strongly on the impact of its own devices on the environment and climate in the "E" dimension with an updated "Devices Action Plan" and reduced emissions in its own value chain (Scope 3) by 18 %. The company is also pursuing specific goals in the "S" dimension and has set out clear diversity principles in a Group-wide diversity and anti-discrimination policy. In addition, Techem carried out the first gender pay equality audit in Germany last year, which shows the percentage pay gap between men and women, and established a procedure for determining and reporting this. In the "G" dimension, the Eschborn-based energy service provider focuses on continuous risk minimization. There were no violations of competition law regulations or significant violations of laws and regulations in the economic or social area within the Techem Group in fiscal year 2023. There were also no significant cases of corruption.
Sustainability as an integral component
In order to make the maximum contribution to all relevant reference groups, sustainability is also seen as a cross-cutting issue at Techem and is anchored across all areas of the company. Katharina Bathe-Metzler has been responsible for Sustainability, Communications & Public Affairs since March 2023 and coordinates the company's sustainability strategy in this role. The Sustainability department manages sustainability-related activities and continuously develops them further together with the Techem Research Institute on Sustainability and the Finance department. Bathe-Metzler reports to CEO Matthias Hartmann, who heads the Sustainability Council and is responsible for sustainability performance.
About the ESG risk rating:
The ESG Risk Rating from Morningstar Sustainalytics provides clear insights into the ESG risk of companies by assessing the extent of an organization's unmanaged ESG risk. On a scale from negligible risk (Techem's rating) to high risk, the rating assesses the ESG performance of over 16,000 companies worldwide. The Sustainalytics rating scale ranges from 0 to 40+,* with Techem receiving a rating of 9.6 for fiscal year 2023 / 2024, putting it in the best category. Further information can be found at: www.sustainalytics.com.
* Negligible (0-10), Low (10-20), Medium (20-30), High (30-40) and Severe (40+).
Copyright ©2024 Morningstar Sustainalytics. All rights reserved. This press release contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third-party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an in-vestment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers.
About Techem
Techem is a leading service provider for smart and sustainable buildings. The company's services cover the topics of energy management and resource conservation, healthy living and process efficiency in properties. Founded in 1952, Techem is now active in 18 countries with over 4,000 employees and services more than 13 million dwellings. Techem offers efficiency improvements along the entire value chain of heat and water in real estate and regenerative supply concepts and solutions. As the market leader in remote radio detection of energy consumption in homes, Techem continues to drive networking and digital processes in real estate. Modern multi sensor devices, radio smoke detectors with remote inspection, metering point operation, charging infrastructure for electromobility and services related to improving drinking water quality in properties complement the solution portfolio for the housing as well as the commercial real estate industry. Further information can be found at https://www.techem.com/corp/en/about-us or follow us on LinkedIn.
Press contacts
Janina Schmidt
Head of Corporate Communications
Techem Energy Services GmbH
Phone: +49 (0) 174 / 744-4137
E-Mail: janina.schmidt@techem.de
Katharina Bathe-Metzler
Head of Sustainability, Communications & Public Affairs
Techem Energy Services GmbH
Phone: +49 (0) 1522 / 413-6702
E-Mail: katharina.bathe-metzler@techem.de
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