Siemens AG announced on Monday that it plans to reduce its Swiss headquarters' carbon footprint and turn it into a carbon-neutral location by 2023.

The works are scheduled to start in May 2021, and the company will set aside some €63 million for the refurbishments, the statement read. Siemens' goal, according to the statement, is to achieve total carbon neutrality by 2030, with 54% of that goal already achieved at the moment.

"Sustainability is top of our agenda – when it comes to the technology we supply to customers but also in our own operations. Our experience has shown that with our solutions, considerable energy savings of up to 30 percent can be achieved in most buildings," Matthias Rebellius, Siemens' managing board member, commented.