As highlighted in a related announcement, the upgrade of PPC’s rating by CDP is mainly due to the significant improvement it has demonstrated in critical areas, such as strategy, governance and risk and opportunity management practices, as well as the way it calculates emissions CO2 and implements actions and strategies aimed at mitigating the negative impact on the climate and the environment.
The specific upgrade is a result of the implementation of the strategic withdrawal of the lignite units and development of the Group’s RES and the commitments for zero greenhouse gas emissions until 2040 (Net Zero). PPC, as part of its ongoing “green” transformation, has shown a reduction of approximately 30% in CO2 emission intensity since 2020.
Globally, the international CDP Organization is considered an environmental benchmark, evaluating in 2023 more than 23,000 companies, organizations, states, regions and cities around the world. Since its inception in 2000, CDP has focused on building a sustainable economy by examining data on the impact of global businesses and nations on climate, forests and water security. It works with businesses and governments that communicate their actions and goals in matters related to the reduction of emissions, the management of climate risks and opportunities, their environmental footprint, as well as their sustainability improvement practices.
The Director of Sustainable Development of PPC Group, Mr. Achilleas Ioakeimidis said: “The significant upgrade of our assessment by CDP, in just one year, is of essential importance both for PPC and for the wider ecosystem and Stakeholders. It demonstrates that the Sustainable Development strategy is implemented horizontally throughout the Group and meets measurable objectives that have been undertaken. At the same time, it confirms and recognizes in the most reliable and scientific way the transformation taking place in the Group, which, in addition to being a key strategic choice for creating value for our shareholders, also contributes to mitigating climate change. We aim for a 74% reduction in CO2 emission intensity by 2030, a net zero carbon footprint (Net Zero) by 2040 and an increase in shared value in the environment, society and economy”.
The PPC Group is on a continuous course of “green” transformation with the increase of investments in RES and the gradual withdrawal of lignite units being at the center of energy planning. Aiming to become a clean energy leader in Southeast Europe and the wider region, the Group is changing and setting new foundations for the future.
According to the business plan for the period 2024-2026 presented by the Group’s management at Capital Markets Day 2024 in London, the next three years will be the three years of Renewable Energy Sources in production, since in 2026 the installed RES capacity of the Group will double compared to today and will reach 8.9 GW. In three years, RES will make up 68% of the PPC Group’s total installed capacity, through investments and partnerships in Greece and Romania, but also in other regions in Southeast Europe, including Bulgaria.
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