The term "climate change" refers to the change in the global climate caused by human activities and mainly caused by the increase in the concentration of greenhouse gases in the atmosphere. Globally there is already an increase of approximately 1°C compared to pre-industrial levels, while according to the findings of modern studies such as e.g. of the Committee for the Study of the Effects of Climate Change (EMEKA) in Greece, the increase may reach up to 6°C in 2100, if there is no concerted action to arrest climate change, through the reduction of greenhouse gas emissions, with the cost of the impacts to be particularly high. Therefore, the E.E. aims to reduce greenhouse gas emissions by at least 55% by 2030. This goal is the result of the Paris Agreement on climate change and the European Green Deal. Greece belongs to the most climate-ambitious countries and supports every European initiative for the drastic reduction of greenhouse gas emissions. In this direction, in recent years MYTILINEOS has focused on maximizing financial returns to its shareholders, while also remaining true to a firm commitment to sustainability. MYTILINEOS Company has cultivated a corporate culture that considers ESG and Sustainability in general as one of the most important pillars for our long-term development strategy. At the same time, the Company is the first Greek industrial company that in 2020 proceeded, after a special study, which utilized the latest available scientific data regarding the forecasts for the evolution of the climate, as well as the relevant European and national strategy, in defining ambitious targets to reduce its carbon footprint while further integrating sustainability into its corporate DNA. The strategic priorities of MYTILINEOS, in this area, are in agreement with the European Green Agreement (EU Green Deal), contributing substantially to the transformation of the country's energy model and industry, with the perspective of utilizing the funds it will offer. MYTILINEOS plans to submit a statement of commitment to the global "Science Based Target Initiative" (The Science Based Targets Initiative (SBTi) promotes ambitious climate action in the private sector by enabling companies to set science-based emission reduction targets) in order to subject the aforementioned carbon reduction targets to external, independent validation, ensuring that they have been calculated on a scientific basis. In this way, the Company confirms its commitment to the goals of the Paris Agreement and contributes and leads the way in addressing the threat of climate change at a national and global level, in fact in conditions of increased uncertainty and economic recession, as the response to the health crisis from during the pandemic, the European framework becomes the first priority.
Specifically, MYTILINEOS is committed through the implementation of specific initiatives:
By 2030: to reduce by at least 30% its total CO2e emissions (Scope 1 & 2) compared to 2019 levels and to achieve a neutral carbon footprint in 2 of the 4 Sectors of its Business Activity.
By 2050: the achievement of a neutral carbon footprint of all its operational units.
These ambitious goals are the common component of the individual commitments at the level of Business Activity Sectors:
TED Metallurgy:
- 65% Reduction of total CO2e emissions (scope 1 & 2) until 2030 65% (compared to 2019 levels)
- 75% Reduction of specific CO2e/t Al emissions by 2030 75% (compared to 2019 levels)
- Achieving a carbon neutral CO2 footprint of the Sector by 2050
TED of Electricity & Natural Gas Trading:
- 50% Reduction of specific emissions CO2e / MWh by 2030 50% (compared to 2019 levels)
- Achieving a carbon neutral CO2 footprint of the Sector by 2050
TED of Sustainable Development Projects and TED of Development of Renewable Sources and Energy Storage:
- Achieving a carbon neutral CO2 footprint of the Sector by 2030
