BUSINESS: 327 PRACTICES
Polyeco is the first and sole integrated and fully licensed waste management and valorization industry in Greece.
Read more: www.polyeco.gr
Adaptation to climate change and the development of mitigation actions lie in the heart of Polyeco's commitments towards achieving a climate-neutral economy. In this direction, the company has decided to undertake a comprehensive study to calculate its "carbon footprint" for all activities and facilities from 2019 to 2023.
The Report serves as a dynamic monitoring tool for the company's climate performance, aimed at documenting all actions taken to reduce emissions by 30% till 2030 compared to 2019, following the guidelines of the New Climate Law (Law 4936/2022 (Government Gazette 105/A' 27.5.2022)).
Simultaneously, annual monitoring of company’s performance related to Climate Change serves as a roadmap for decisions and actions required to reduce greenhouse gas emissions.
Carbon Footprint Report, and specifically its results, will be presented comprehensively across a series of documents and reports by Polyeco, addressing three levels:
Carbon Footprint Calculation Study for the period 2019 – 2023 and the reduction strategy for 2030 lasted approximately 6 months and was completed by the end of 2023.
For the estimation of the GHG emissions, the target is to achieve a 30% reduction by 2030, compared to the baseline year 2019. Subsequent milestones on the path to climate neutrality are set for 2040 and 2050, aligning with the mandates of the New Climate Law.
Methodologically, the key focus of the study is the calculation of direct and indirect greenhouse gas emissions, categorized according to Scope 1 and Scope 2 levels respectively, as defined in the "GHG Protocol" standard or alternatively, in accordance with the "ISO 14064-1:2018" standard.
The GHG emissions considered for calculating emissions intensity include carbon dioxide (CO2), nitrous oxide (N2O), and methane (CH4), with their sum representing "carbon dioxide equivalent."
The results of the Report are documented by emission activity (buildings, fuels, work vehicles, employee commuting, etc.) and by emission mitigation or avoidance action (renewable energy projects, green spaces, etc.), providing a comprehensive analysis and precise outcomes.
The geographical scope of the analysis pertains to Country-level projects and activities, in accordance with the mandates of the New Climate Law.
The levels of analysis within which the measurements of the carbon footprint were determined are two and are analyzed as follows:
Direct emissions, which originate from sources that are owned and controlled by the company itself.
Indirect emissions, which affect the company's activities but are due to sources controlled by a different economic entity, i.e., by the company's other partners.
Additionally, GHG emissions are classified into three categories or levels (scopes): direct emissions (Scope 1), indirect emissions from the purchase of electricity and heat (Scope 2), and indirect emissions from the procurement of raw materials and fuels, transportation of labor personnel, transportation of products, and disposal of waste (Scope 3) (Carbon Trust, 2012[1]).
The sources of GHG emissions that were calculated concern:
This analysis helps in determining company's long-term and short-term goals and commitments regarding:
[1] https://www.eib.org/attachments/strategies/carbon_footprint_report_2012_en.pdf
The results of the study showed a decreasing trend in greenhouse gas (GHG) emissions expressed in CO2 equivalent tones. Specifically, for 2023, there was a significant reduction of approximately 19% compared to the base year of 2019. This positive climate performance is the result of a coordinated mesh of actions, projects, and initiatives stemming from the company's commitment towards a green future, marking a significant step towards achieving the 30% reduction target by 2030.
Broadening the scope of analysis, the GHG emissions accounting across scopes 1, 2, and 3 provided Polyeco with a "radiography" of its activities, enabling precise planning of investments and interventions necessary to achieve ambitious climate goals both in the short and long term.
The reduction in GHG emissions till now serves as further evidence of the company's strong commitment to environmental protection. This commitment lies at the core of its operations, focusing on creating value through proper management of hazardous waste and converting them into alternative fuels and raw materials. By reinforcing the principles of the circular economy, Polyeco reduces the use and extraction of primary resources and prevents thousands of tons of waste annually from being deposited in landfills.
Throughout this process, protecting the local communities where Polyeco operates remains a primary concern, ensuring that each facility operates with the smallest possible environmental footprint.
Carbon Footprint Calculation were conducted for all company facilities in Aspropyrgos and Mandra (Attica), Thessaloniki, and Heraklion, Crete.
The study was conducted with the support of the company's Management, whose strategic goal is to "green" Polyeco 's value chain. All departments and management teams actively participated, adopting a common vision for 2030.
Technical and scientific support for the project was provided by the consulting firm "Sustainable Development Consultants[1]".
[1] https://sdconsultants.gr/
The completion of the study was a challenging and time-consuming endeavor, as it required gathering a vast amount of data for the 5-year period (2019-2023), not compromising on accuracy and data validity.
In addition to the involvement from senior and mid-level Management, all employees across Polyeco's facilities in Greece participated in the work. They provided necessary documents, procedures, and specialized monitoring indicators (KPIs).
The main benefits of recording GHG emissions are summarized as follows:
Upon completion of the above, a variety of actions were specialized across energy efficiency sectors (building infrastructure, production processes, procurement of A and B raw materials, sustainable mobility and commuting, and numerous other actions), each accurately documented as follows:
