Siemens Energy

InfluenceMap Score
C
Performance Band
63%
Organisation Score
59%
Relationship Score
Sector:
Energy
Head​quarters:
Munich, Germany
Official Web Site:

Siemens Energy AG was listed on the stock exchange in September 2020, following its spin-off from Siemens AG. As part of this spin-off, Siemens Energy AG also acquired a controlling stake in Siemens Gamesa Renewable Energy SA. This company profile includes evidence of lobbying by Siemens Energy AG and Siemens Gamesa Renewable Energy SA from September 2020. Evidence of lobbying for the two entities prior to September 2020 can be found in our Siemens AG company profile here.

Climate Lobbying Overview: Siemens Energy appears to be actively engaged on EU climate policy in 2020-22. The company has communicated broadly positive positions on climate-related policy, particularly concerning renewable energy and 'green' hydrogen. However, Siemens Energy appears to have taken more mixed positions on issues including the role of fossil gas in the energy mix, and European emissions trading policy (ETS). Siemens Energy’s subsidiary, Siemens Gamesa, has largely positive positions on climate policy and the energy mix.

Top-line Messaging on Climate Policy: Siemens Energy’s top-line communications on climate change are broadly positive. In a February 2021 consultation response, the company stated support for the EU’s goal to become carbon-neutral by 2050. In a separate February 2021 consultation response, Siemens Energy urged EU policymakers to support “quotas, targets and refinancing mechanisms” in climate policy as it “would be wrong to assume that the ETS alone can decarbonize all sectors”. Siemens Energy also explicitly supported the Paris Agreement in its 2020 Sustainability Report.

Siemens Gamesa has also supported ambitious climate action. In May 2021, the company supported Spain’s Climate Change and Energy Transition Law on Twitter, which legislates a 2050 climate neutrality target. Similarly, in an April 2022 Twitter post, Siemens Gamesa CEO, Jochen Eickholt, appeared to support French Climate Law, which also legislates a 2050 climate neutrality target. Siemens Gamesa has supported the Paris Agreement, including the US decision to re-join the agreement in February 2021.

Engagement with Climate-Related Regulations: Siemens Energy is actively engaged on EU climate policy with mixed positions. In a February 2021 consultation response on the EU ETS, the company supported a minimum carbon price floor for the EU ETS, but also supported the continuation of indirect cost compensation and carbon leakage protection measures which would weaken the policy’s ambition. In response to a November 2020 consultation on the EU ETS, Siemens Energy supported the implementation of a carbon border adjustment mechanism (CBAM). However, the company also supported additional measures to avoid carbon leakage such as free allocation under the EU ETS, without a phase-out plan.

Siemens Energy has more positive engagement on renewable energy policies. In September 2020, the company supported legislation to promote renewable offshore wind generation in response to an EU consultation on the Offshore Renewable Energy Strategy. However, in its 2021 CDP disclosure, Siemens Energy stated that it supports the inclusion of quotas for low-carbon fuels in the EU Renewable Energy Directive, and that it advocates for e-fuels to be counted towards complying with the EU light-duty vehicle CO2 standards, which could weaken the emissions reduction potential of the policy.

Positioning on Energy Transition: Siemens Energy’s lobbying on the energy transition appears to be mixed. In its 2020 Annual Report, the company advocated for the removal of exemptions for coal financing under the EU Modernisation Fund in a February 2021 consultation response. However, Siemens Energy appears to support a continued role for fossil gas and, for example in its February 2022 Q1 Earnings Call, Siemens Energy appeared to support the weakening of electricity generation thresholds in the EU Sustainable Finance Taxonomy to include fossil gas.

Siemens Energy appears to support the integration of low-carbon fuels into hard-to-abate sectors. In a February 2021 consultation response, the company supported carbon contracts for difference to facilitate the integration of renewable energy into the steel and chemical sectors. On its corporate website, accessed in 2021, the company also supported the use of zero-emissions hydrogen in transport and heavy industry. In a March 2021 White Paper on EU gas networks, Siemens Energy appeared to support a “temporary” role for blue hydrogen made from fossil fuels, albeit with reference to the need for CCS. In a February 2021 consultation response on the EU ETS, Siemens Energy directly advocated for an ambitious e-fuels mandate for aviation. In addition, in its 2021 CDP response, it disclosed its advocacy for ambitious quotas for e-fuels in the maritime sector. Siemens Energy also appeared to prioritize the need for e-fuels over electrification in road transport, which may promote a long-term role for ICE vehicles, in a consultation response in November 2021. In June 2022 Siemens Energy signed a joint letter supporting a 6% 2030 EU e-fuels target for shipping, alongside targets for sustainable e-fuel hydrogen refueling infrastructure for shipping as part of the EU's Alternative Fuel Infrastructures Regulation.

Siemens Gamesa appears to strongly support a transition of the energy mix. The company has consistently supported the expansion of green hydrogen and wind power on both its corporate website and social media in 2021. In comments submitted to the US Bureau of Ocean Energy Management in February 2021, Siemens Gamesa directly advocated for US policymakers to support the offshore wind industry.

Industry Association Governance: Siemens Energy does not appear to disclose any information on its industry association memberships, nor has it published a review of its alignment with industry associations on climate change. Nevertheless, Siemens Energy is a member of the American Petroleum Institute which actively and strategically lobbies against ambitious climate policy in the US, and a member of the Edison Electric Institute which has mixed engagement with US climate policy. In Europe, Siemens Energy is also a member of the Federation of German Industries (BDI) which have lobbied on climate policy with mixed positions in German, and a partner company of BusinessEurope, which has predominantly negative engagement with EU climate legislation.

Siemens Gamesa has disclosed some memberships to key industry associations in its Sustainability Report, but with limited details of their climate policy positions and engagement. A senior executive of Siemens Gamesa is on the board of directors at American Clean Power Association which engages positively on climate-related policy. Siemens Gamesa is also a member of other progressive industry associations, such as WindEurope in the EU and Clean Energy Council in Australia.

A detailed assessment of the company's corporate review on climate policy engagement can be found on InfluenceMap's CA100+ Investor Hub here.

InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q3 2022.

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DATA SOURCES
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Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
91%
 
91%
 
45%
 
45%
 
42%
 
42%
 
23%
 
23%
 
57%
 
57%
 
67%
 
67%
 
71%
 
71%
 
85%
 
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48%
 
48%
 
87%
 
87%
 
52%
 
52%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.