Acceleration on Climate Change. "Zero Emission" Prysmian by 2040 (Scope 1 and 2)
In 2020, in order to further confirm the Group’s commitment to managing climate-related risks and opportunities, Prysmian, together with the Control and Risk Committee and the Sustainability Committee, launched the process for fully integrating the framework recommended by the Task Force on Climate-Related Financial Disclosures (TCFD) established by the Financial Stability Board (FSB).
Most of TCFD’s recommendations — which focus on four key elements, i.e., governance, strategy, risk management, and metrics & targets — have already been adopted by the Group with the aim of fully integrating the framework by 2022 thanks to the support of a partner, a leading player in this field, which has already been identified.
Prysmian Group confirms its ambition to be one of the leading technology players in the transition to the use of renewable energy sources and to a decarbonised economy. 48% of the Group’s sales are attributable to business segments and products that contribute to a low-carbon economy . With the goal of supporting the expected acceleration of the development of new submarine and underground power interconnections (chiefly links and interconnections of offshore wind farms), the Group has planned investments in the range of €450 million by 2022 (over 50% of total investments), which are also intended to further improve the sustainability of its organisation and supply chain.
Prysmian Group has also announced a new ambitious climate strategy adopting science-based targets, in line with the requirements of the Paris Agreement, and endorsing the Business Ambition (1.5°C) with the “net zero” target expected to be achieved between 2035 and 2040 with regard to the emissions generated by its operations (Scope 1 and 2) and by 2050 for emissions generated by the value chain (Scope 3). Among the most important initiatives in this area is the Group’s Pikkala plant, chiefly dedicated to the production of cables for offshore wind farms, which will become the first net zero plant, where 100% of the energy used will be obtained from certified renewable sources.
Sustainability Report 2020
This is the fifth year we continue to adopt the Sustainability Report as a consolidated disclosure of non-financial information, with specific reference to environmental, social and staff-related issues, respect for human rights and the fight against bribery and corruption. The document is prepared in accordance with GRI Sustainability Reporting Standards; we reported our efforts in several fields, from the protection of the environment and health and safety at work, to business ethics and integrity. Click here to read more about.