Initiatives / Action plans for tackling climate change
SUBMITTED FROM:
ΟΛΠ Α.Ε.
Piraeus Port Authority S.A. is an Athens Stock Exchange listed company engaged in the management and operation of Piraeus port, Greece’s largest port and one of the largest integrated harbours in Europe, providing a complete range of services. Some of the company’s activities involve cruise, coastal (ferry/passenger), container and car terminal services, as well as general cargo, ship repair, logistic and free zone services. The main shareholder of Piraeus Port Authority S.A., with a stake of 67 percent, is COSCO SHIPPING, one of the largest maritime companies in the world.
Over the last decade the company has experienced a remarkable growth in all port activities, which is still underway, largely contributing to the country’s economy, while driven by green development and increased digitalization, alongside a people-first approach and a spirit of giving back to the society.
PPA is a member of “ECO PORTS”, holds ISO 9001:2015, ISO 14001:2015, ISO 50001:2018 Certifications, is included in the Athens Stock Exchange ESG index and is one of the “Most Sustainable Companies in Greece 2024”.
To achieve its policy objectives regarding Climate Change Adaptation, Mitigation and Renewable Energy Deployment and address the Impacts, Risks and Opportunities identified for the topic of Climate Change, PPA S.A. has set targets and undertakes action plans to achieve them.
Important points:
To manage material impacts, risks and opportunities (IROs) regarding Climate Change Mitigation and Emission Reduction, Energy Consumption and Mix the Company has plans to reduce its Scope 2 market and location-based emissions by 4% in absolute values, compared to a baseline of 2024 until 2030.
The 2024 baseline year for the target is considered representative of the Company’s energy use and GHG emissions under normal operating conditions.
The targets related to energy use, and GHG emissions are set within the framework of integrated management system developed by the Company.
Α further technoeconomic study will be conducted regarding the solar panel installation
Target Audience
Visitors / users, employees, local community and rest of stakeholders.
Duration
In progress
Description
PPA SA, being a leader in the Mediterranean area and having a beneficial geographical position in Europe, is in continuous development, according to the principles of sustainability and environmental protection.
PPA SA has elaborated and implements an Environmental Policy, considering the European and National Environmental Legislation, as well as the International Environmental Regulations, whilst it has designed a specific mechanism for the evaluation of the environmental performance of the port activities. PPA SA wishes to go further to a more advanced level of organization and environmental management, by means of the following actions:
EcoPorts Port" Status - Environmental Management Standard PERS
Marine Pollution Preparedness and Response Contingency Plan
Ship-generated Waste Management Plan
Environmental Quality Monitoring Programs
Climate change and greenhouse effect are major issues that concern our society. Anthropogenic activities are regarded as the main source of CO2 emissions, which contribute to the greenhouse effect and solutions that will lead to the effective mitigation of this problem, are sought.
PPA SA, acknowledging the severity of this issue and although its activities do not relate directly to it, has initiated and implements a pilot quality monitoring program of the atmospheric environment in the port area, taking into consideration both direct and indirect port activities.
In order to implement this monitoring program, an Air Quality Monitoring Station has been installed in the N-NW area of the Central Piraeus Port (Passenger and Cruise Terminals), in collaboration with the National Technical University of Athens (NTUA – School of Chemical Engineers), fully equipped for the inventory of air pollutants’ concentrations on 24 hour basis. The aim is, by assessing the monitoring station inventories, to result in useful information about the levels and distribution of air pollutants in the atmosphere, as well as to identify the main air pollutant sources.
More specifically:
PPA S.A. has developed an integrated management system certified according to ISO 9001:2015, ISO 14001:2015 and ISO 50001:2018, while every year since 2022 the Company certifies its Scope 1 and 2 emissions in line with ISO 14064-1:2018 standard and the requirements of the Greek Climate Law (4936/2022). This approach enables PPA S.A. to identify, monitor and constantly improve its overall environmental performance. Each year, the Company’s environmental data and metrics regarding energy use, GHG emissions and pollution are audited by an external verifier. Additionally, pollution measurements are carried out by certified contractors ensuring the credibility and transparency of the Company’s published data.
PPA S.A. implements an Environmental Policy that is applicable to its operations in the port of Piraeus and to any stakeholder that uses or works in its facilities.
PPA S.A. has adopted a sustainable development policy outlining its vision in embedding environmental, social and governance aspects in its everyday operations and achieving sustainable port operations. Through the policy the Company commits to minimizing its environmental footprint and addressing climate change and its widespread repercussions through:
-Proactively taking steps to reduce its environmental footprint and greenhouse gas emissions
-Embracing sustainable practices in all its operations
-Investing in renewable energy sources
-Resource use efficiency
-Minimize negative impacts on the ecosystem
-Adopt the EU Taxonomy as part of the Company’s sustainability goals and objectives
PPA S.A. reinforced its commitments to the principles of the ESPO Green Guide and towards setting goals and targets to continually improve its environmental performance and outlined its dedication to fostering enduring relationships with universities and research institutions with the goal of:
-Driving the development and implementation of robust environmental monitoring programs (air, noise, sea water and sediment quality), and
-Conducting thorough analyses of climate change risks associated with the Company's port projects, infrastructure, and operations, aiming to minimize the impact climate change has on its assets and operations.
During the double materiality assessment process, PPA S.A. has examined its potential impacts, risks and opportunities relating to climate change across its operations and value chain. Additionally, the Company has conducted a resilience analysis concerning physical risks for its business activities that are centered in the Port of Piraeus. During the analysis, PPA S.A. used climate models to identify climate-related physical risks along different scenarios. The time horizons, models, parameters and methodologies used to study the Company’s vulnerability to physical risks along its assets and business activities were based on the National Climate Law and the Regional Plan of Attica for Adaptation to Climate Change (PESPKA) due to the Company’s regulatory obligations.
In the analysis, parameters encompassing both chronic and acute risks related to temperature, precipitation, wind, wave height and sea level rise were assessed using the following methodology:
Quantitative and qualitative analysis: Climate Model Data and qualitative assessments were used to evaluate the likelihood and impact.
Risk Categorization: A risk level is determined to assess the overall risk exposure by combining:
Likelihood: The probability of the event occurring within a specific timeframe was assessed. It was categorized into levels such as high, medium, and low.
Impact Severity: The magnitude of the consequences was analyzed in the event that the risk materializes, with categories such as extreme, significant, moderate, or minor.
Duration: The timeframe of the threat or its consequences was taken into account, whether it is short-term or long-term.
The categorization aims to streamline the decision-making process in prioritizing mitigation measures. The climate scenario used for the physical vulnerability analysis were:
RCP8.5 Scenario Developed using the MESSAGE model and the Integrated Assessment Framework of the International Institute for Applied Systems Analysis (IIASA) in Austria. This scenario is characterized by increasing greenhouse gas emissions, leading to high levels of greenhouse gas concentrations.
RCP4.5 Scenario: Developed by the GCAM team at the Pacific Northwest National Laboratory's Joint Global Change Research Institute (JGCRI) in the United States. It is a stabilization scenario in which the energy balance of the atmosphere stabilizes after 2100, without exceeding the long-term target.
PPA S.A. made use of reliable climate models as well as internationally recognized climate scenarios. However, the forecasts inherently contain uncertainties, as the impacts of climate change are difficult to quantify with absolute accuracy.
The study aims to address the material impacts, risks and opportunities (IROs) regarding Climate Change adaptation of the Company’s port facilities and is expected to be submitted and approved by the Ministry of Environment in first semester of 2025, with the Company having already committed 169.000 € plus VAT of CapEx.
Overall PPA S.A. hasn’t identified assets and business activities that are incompatible with or need significant efforts to be compatible with a transition to a climate-neutral and considers its business model and strategy adaptable and resilient to climate related physical risks.
The timeline for the implementation of the corrective actions is planned for several periods: short term, medium term and long-term actions, while the main actions will be implemented in the upcoming decade.
To continuously monitor potential climate change impacts, PPA S.A. participates to the EU funded Project called ARSINOE (Climate-resilient regions through systemic solutions and innovations), which identifies risks and opportunities related to climate and considers measures to enhance climate change resilience and adaptation.
The measures implemented by PPA S.A. to address climate change contribute to making the Port of Piraeus more resilient, efficient and sustainable, by minimizing the occurrence of extreme weather events, optimizing the ways to address them, increasing the efficiency and effectiveness of services through sustainable solutions and technologies and strengthening the Port’s competitiveness and reputation, while establishing it as a safe choice for both customers / users and investors.
Initiative Location
Terminals, ship repair and Port’s infrastructure.
Working with Organization
Universities and research institutions and rest of stakeholders.
Workers Participation
Participation of the employees od PPA S.A.
Benefits for Οrganization
Recognizing its role in enabling the transition to a climate neutral economy the Company undertakes measures that aim to support its partners in reducing their emissions.
PPA S.A. participates in (2) EU funded Projects, “EALING” (Ferry berths) and “CIPORT” (Cruise berths) with studies on cold ironing in (5) Ferry berths and four (4) Cruise berths. For the five (5) passenger ships berths, technical (FEED), environmental and financial studies are already completed, while for the four (4) Cruise berths studies are still in progress, with 2030 target for completion and implementation if feasible. The cold ironing projects aim at reducing fossil fuel usage through electrification while the vessels are berthed in the port. In the project the Company collaborates with the Hellenic Electricity Distribution Network Operator for the implementation of the project and the vessels/users. The EU project CIPORT has a budget for PPA S.A. of 170.000 €, while EU project EALING has a budget for PPA S.A. of 191.219,50 €, with the Company co- funding 50%.
The Company is working on the deployment of LNG Bunkering for Cruise vessels, as a start of providing alternative fuels bunkering services at vessels. LNG is considered a transition fuel towards decarbonization, and LNG Bunkering requires investigation and specific procedures to ensure safe operations. The timeline for deciding on relative actions is expected within 2026.
