thermondo

Does the core business genuinely avoid or reduce emissions, or build climate resilience? Share of revenue that is actually 'green'. Fossil-dependent models score low.

Thermondo's core business directly displaces fossil heating: it sold its last gas boiler in February 2024 and now focuses entirely on heat pumps and solar PV, with heat pumps exceeding 90% of new orders — a structurally high-impact position, though the stock of 50,000+ installations skews heavily toward legacy gas systems still under service.

Credible, science-based targets (SBTi), a real net-zero plan with progress to date, and CDP disclosure — not just a dated press release.

No evidence of SBTi-validated targets, CDP disclosure, or a published net-zero roadmap with independently verified milestones was found; corporate climate commitments appear limited to narrative-level pledges about Germany's energy transition rather than quantified, science-aligned corporate targets.

Operational footprint, labour and social practices, and governance quality across the company's own operations and supply chain.

Over 600 of thermondo's 1,000+ employees are permanent tradespeople — a positive sign for labour stability in a sector often reliant on subcontracting — but no public ESG report, worker satisfaction data, diversity metrics, or supply-chain due-diligence disclosure was identified.

Quality of disclosure, independent third-party verification, and how much hard data backs the company's claims.

Thermondo publishes no standalone sustainability or ESG report, has no CDP filing, and offers no third-party-verified emissions or lifecycle-impact data; quantitative claims (e.g. CO₂ saved per installation) are absent from public disclosures, limiting investor-grade verifiability significantly.

Controversies, litigation, pollution, fossil-fuel lobbying, conflict-zone involvement and governance scandals. Higher means cleaner.

No material controversies, regulatory sanctions, fossil-fuel lobbying activity, governance scandals, or litigation were identified in public sources; the company maintained service contracts for legacy fossil systems after its sales exit, which is a minor integrity consideration but not a material red flag.