The HELLENIC CABLES Group of Companies is one of the largest cable industries in Greece and owns five production plants, three in Greece and two abroad.
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ENVIRONMENT
BUSINESS: 294 PRACTICES
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Initiative
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HELLENIC CABLES Member of CENERGY HOLDINGS
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Objective Action
Environmental responsibility and the proper management of natural resources is a priority for Hellenic Cables and a basic operating principle. Our goal is responsible operation and the reduction of our environmental footprint, through the systematic monitoring and continuous improvement of the production process.
It is important for the organization to implement a proactive and proactive environmental and climate strategy, in direct alignment with European decarbonisation initiatives and the goal of limiting global warming to 1.5°C , thus preventing any dangerous impact of climate change and contributing positively to the health and safety of the wider society.
Target Audience
This specific action concerns and is addressed to the majority of the company's shareholders. It is not a decision of the shareholders which will be implemented by the employees of the Company. Emissions of air pollutants and climate change concern everyone and will be tackled with everyone's input.
In this context, an important axis of Hellenic Cables' decarbonisation strategy is to raise awareness, inform and collaborate with all stakeholders in the organization's value chain. In this way, the Company will reduce not only the emissions within its organizational boundaries but also the emissions coming from its supply chain, while at the same time it will involve the majority of its shareholders in this effort.
Duration
Medium-term targets have been set for 2030 and the company's ultimate goal of net zero greenhouse gas emissions by 2050.
Description
Hellenic Cables seeks to play an essential role in reducing carbon emissions, building a resilient economy with net zero greenhouse gas emissions, as our planet needs. It participates in the global commitment to limit the increase in global temperature to 1.5° C (in line with the Paris Climate Agreement) in order to prevent the dangerous impact of climate change. We are acting immediately by halving Scope 1 and Scope 2 emissions by 2030 and Scope 3 by 25% in the same time frame. At the same time, we are aiming for net zero greenhouse gas emissions throughout our value chain (all fields of application) by 2050. We have already started the necessary actions in this direction. We focus on our supply chain and work with all stakeholders on the energy transformation journey, encouraging them to align with climate science.
Hellenic Cables has drawn up a road map that includes the necessary actions to achieve the goals, which are an integral part of its strategy. The key aspects of the climate strategy aim at the prioritization and implementation of energy efficiency projects in the production units, the electrification of both the corporate fleet, with electric and hybrid vehicles (EV and PHEV), and the forklifts, used for internal transport within the production plants. facilities. The Company will further invest in electricity purchase agreements from renewable sources, aiming to meet 80% of its electricity needs by 2025 and 100% by 2030, respectively. As an integral part of its business strategy, decarbonisation throughout its value chain is seen as a collective effort by all parties involved. Hellenic Cables focuses on reducing its carbon footprint in the raw materials sector with an emphasis on metals (in cable conduits) and polymers, which are considered to be significant contributors to Scope 3 emissions. Low carbon alternatives, combined with increased percentages of recycled content in final products (incorporation of secondary materials into production), in line with circular economy principles, are key components of value chain mitigation actions.
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Impact on Society
The Company will further invest in electricity purchase agreements from renewable sources, aiming to meet 80% of its electricity needs by 2025 and 100% by 2030, respectively.
Both the medium-term targets for 2030 (on track for 1.5°C) and the company's goal of net zero greenhouse gas emissions by 2050 were assessed and endorsed by SBTi, as they were found to be fully aligned with the criteria framework and latest climate data. The Science Based Targets initiative is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
Initiative Location
At Hellenic Cables facilities in Greece.
Working with Organization
As the need for harmonization and a common understanding of business regarding the targets for dealing with climate change is imperative, Hellenic Cables has collaborated for this purpose with the international Science Based Targets (SBTi) initiative. The initiative helps companies establish scientific targets for reducing greenhouse gas emissions and transform their business activities so that they converge towards the future low-carbon economy. SBTi's framework is the world's first and only independent comprehensive assessment, which is based on scientific evidence and aligns corporate goals with current climate data. The targets adopted by companies to reduce greenhouse gas (GHG) emissions are considered scientifically correct if they are in line with the current evidence of climate science, which constitutes the necessary basis for achieving the goals of the Paris Agreement, that is, to limit global warming to a satisfactory level, below 2°C above pre-industrial levels, and continue efforts to limit future temperature increase to 1.5°C. Both the medium-term targets for 2030 (on track for 1.5° C) as well as the company's goal of net zero greenhouse gas emissions by 2050 were evaluated and approved by SBTi, as they were found to be fully aligned with the criteria framework and the latest climate data. The Science Based Targets initiative is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
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Workers Participation
Achieving the goal of this action is only possible with the support and active participation of all employees.
Benefits for Οrganization
With a sustainable way of growing as a key operating pillar, Hellenic Cables always seeks to grow and meet the needs of the present, without compromising the ability of future generations to meet their own needs.
Hellenic Cables seeks to be a leader in the industry, not only in terms of its products and services, but also in terms of the practices it applies and for the protection of the environment and the development of the local communities in which it operates.
Through this initiative, the Company recognizes climate change as an essential and primary issue and adopts a holistic and systematic approach to addressing it. At the same time, it will bring significant financial and operational benefits, as well as lead to the attraction of new employees and partners who emphasize solving environmental issues, such as climate change.
Connection with Global Goals
More Initiatives from Organization
Commitment to supply chain responsibility
Continuous effort on Environmental Friendly Products
Creation of a strategic ESG action plan to guide and achieve sustainable development goals
Environmental Management System certified in accordance with ISO 14001
Health and Safety matters to all of us!
Reduce, Reuse, Recycle
Submission System of new ideas and proposals by the employees
The Business Continuity Plan (BCP) as a key pillar of our Sustainable Development Strategy.