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The achievement of climate neutrality across the entire value chain of the Group by 2040, through medium- and long-term emission reduction targets that have been scientifically substantiated and officially validated by the globally recognized Science Based Targets initiative (SBTi). This validation ensures, in the most reliable and institutionally endorsed manner, that the Group’s targets are fully aligned with the goal of limiting global temperature rise to 1.5°C, in accordance with the Paris Agreement.

• Investors & rating agencies
• Local communities, employees
• Institutional bodies
• Business customers
• Partners
• The broader society and future generations, as the initiative actively contributes to the transition towards a zero-emissions economy by 2050, in line with international and national climate neutrality goals.

In October 2024, after a thorough two-year evaluation process, the DEI Group received official approval of its targets from the Science Based Targets initiative (SBTi), becoming the first energy group in Greece to achieve this recognition.
With the validation of its targets by this global initiative, the Group is officially on track to achieve climate neutrality across its entire value chain by 2040. To reach this goal, the Group commits to significant reductions in Greenhouse Gas (GHG) emissions Scope 1, 2, and 3, as classified by the GHG Protocol, setting clear short-term (by 2030) and long-term (by 2040) targets.

The emission reduction targets were established using rigorous methodologies, in accordance with SBTi standards and guidelines as well as the GHG Protocol. These targets align with the goal of limiting global temperature rise to 1.5°C, as per the Paris Agreement, and go beyond the timelines set by EU policy. Furthermore, they reflect national, European, and international climate goals, including the European Green Deal and the United Nations Sustainable Development Goals (UN SDGs).

More specifically, the targets, as validated by SBTi and recognized as scientifically robust and fully aligned with the Paris Agreement, are as follows:

Short-term targets of the Group, by 2030:

•  73.7% reduction per MWh produced of Scope 1 and Scope 2 GHG emissions,
• 73.7% reduction per MWh sold of Scope 1 and Scope 3/Category 3 GHG emissions related to fuel and energy activities, covering all sold electricity,
•  42% reduction of absolute GHG emissions in all other Scope 3 emission categories.

Long-term targets of the Group, by 2040:

•  98.6% reduction per MWh produced of Scope 1 and Scope 2 GHG emissions,
•  98.4% reduction per MWh sold of Scope 1 and Scope 3/Category 3 GHG emissions related to fuel and energy activities, covering all sold electricity,
•  90% reduction of absolute GHG emissions in all other Scope 3 emission categories.

The baseline year for setting these targets is 2021, and accordingly, the above-mentioned targets apply to all companies that were part of the Group in that year.

• SBTi
• Partners, local authorities, universities, and stakeholders during the implementation phase of actions to achieve the targets.

Throughout the entire preparation process for submitting the required data, as well as until the dispatch of the Validation Report by SBTi, there was close and cross-departmental collaboration among executives from numerous divisions of the Group, as well as representatives from all its subsidiary companies.

The validation of the targets by SBTi marked a milestone in the Group’s decarbonization journey and substantially enhanced the transparency and credibility of the strategy it implements to address climate change. The official recognition of the targets as scientifically substantiated highlighted the seriousness and reliability of the Group’s commitment to achieving climate neutrality by 2040, serving as a reference point for the broader society and sending a strong message of responsibility and commitment to sustainable development.

This development had a positive impact on multiple levels. Within the Group, executive and operational departments, as well as subsidiary companies, were mobilized, strengthening collaboration and fostering a shared culture of sustainability. At the same time, the initiative was communicated to the public through press releases, corporate presentations, reports, and questionnaires.

It is important to note that since 2019, the PPC Group has been steadily implementing the Green Deal in electricity generation, with the retirement of lignite units and rapid expansion of its renewable energy portfolio. With the SBTi validation of its targets, the Group now sets clear goals for reducing greenhouse gas emissions, integrating them into its energy transition strategy. The Group’s targets have become clearer, measurable, and more ambitious, strengthening its ability to play an active role in the transition to a net-zero emissions society.

It is reported that through its actions in recent years to reduce emissions from electricity generation, the PPC Group has achieved by the end of 2024:

• 75% reduction in CO2 emissions from lignite-based production
• 55% reduction in CO2 emissions from electricity generation overall

An increase in installed capacity from renewable energy sources by 2.1 GW in 2024 compared to 2021 (5.5 GW in 2024 versus 3.4 GW in 2021).

The official validation of the scientifically backed targets of PPC Group by the SBTi constituted a strong foundation for the organization’s strategy towards sustainable development and the path to achieving climate neutrality. This recognition by a global, scientifically credible institution made the PPC Group the first energy organization in Greece with validated targets fully aligned with the goal of limiting temperature rise to 1.5°C, according to the Paris Agreement.

This specific evaluation substantially strengthened the Group’s compliance with the new European Union regulatory framework on sustainability, specifically with the CSRD Directive. The PPC Group effectively responded to the CSRD requirements for transparent, quantified, and well-documented data, demonstrating a high level of readiness, integrating scientifically backed targets and a full inventory of GHG emissions from its activities, according to SBTi and the GHG Protocol, respectively.

Furthermore, the validation of the targets had an immediate positive impact on the Group’s ESG ratings by independent organizations and international rating agencies. The documentation of the decarbonization strategy based on strict scientific criteria contributed to improving the sustainability scores and enhanced trust from the investment community. At the same time, it is expected to significantly facilitate the Group’s access to green and sustainable financing forms, including ESG-linked loans to support critical investments in the energy transition.

Finally, the recognition by SBTi established the PPC Group’s leading position in the transition towards a zero-emissions economy, strengthening its profile as a model of responsibility in the Greek and European energy sector.