Nordex SE
XETRA: NDX182Climate Leader· ProvisionalGerman wind turbine manufacturer supplying multi-megawatt onshore turbines across Europe, the Americas, Africa, and Asia.
Why it's on ClimateTicker
Nordex SE is a core climate-mitigation company whose entire revenue base comes from manufacturing and servicing onshore wind turbines that collectively avoid tens of millions of tonnes of CO₂e annually. The product impact is genuine and quantified via third-party LCAs. Operationally, Nordex has SBTi-validated near- and long-term targets, CSRD-compliant reporting audited by KPMG, and a CDP B rating — credentials that are above-average for industrial manufacturers, though Scope 3 supply chain decarbonisation remains a work-in-progress and landfill/waste performance has worsened.
Commitments & Certifications
Controversy & Greenwashing Watch
Nordex has a stated goal of fully recyclable rotor blades by 2032, but as of 2024 this remains an R&D aspiration with no commercially deployed solution, a meaningful gap given blade waste is a sector-wide problem.source ↗
Major shareholder Acciona S.A. provides a credit facility of up to EUR 1.3 billion, creating a related-party financial dependency that requires ongoing governance scrutiny.source ↗
Nordex postponed its ISO 37001 anti-bribery certification target from 2023 to 2024, with a gap analysis showing only 72% requirements met as of 2022 and anti-corruption training at 46% employee penetration as of 2023.source ↗
Nordex's production waste landfill rate rose sharply from 16% in 2022 to 31% in 2023, reversing prior progress and falling short of its zero-production-waste-to-landfill target.source ↗
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