About us
The Group supports and endorses the global commitment to avoid the effects of climate change and to work towards keeping global warming within the 1.5˚C scenario of the Paris Agreement compared to pre-industrial levels. The Group is committed to contributing to climate change mitigation and the sustainable development of the energy sector, in line with the Paris Agreement and the National Energy Independence Strategy. The Group has set ambitious strategic targets to reduce its Scope 1 and 2 GHG emissions by 30% by 2026 and by 50% by 2030, compared to 2019. It should be noted that these objectives are also linked to EPSO-G's long-term sustainability-linked finance framework (“Finance Framework”) and sustainability-linked bond prospectus. The framework has been independently evaluated by CICERO Shades of Green, an international climate and environmental research centre. Independant assesment identified the EPSO-G’s Finance Framework targets as ambitious compared to the sustainability targets set by peers in Europe. These targets are also largely in line with the Paris Agreement's aspirations for reducing climate change impacts. The performance of the bonds is presented in the Management Report, section 4 ’Annual Performance Report’. In 2024, the Group joined the Science Based Targets Initiative (SBTI) and committed to short-term science-based GHG emission reduction targets for 2030, which were submitted to the SBTi for validation at the end of the reporting year. The Group's strategy also commits to achieving a net-zero GHG emissions by 2050.
GHG emissions in the EPSO-G group
The Group is subject to the European Union's benchmarks in line with Paris Agreement. The Transition Plan to climate-neutral activities is an integral part of the Company's strategy and financial planning to contribute to the objectives of the Paris Agreement and the requirements of European climate legislation. The Plan is based on long-term investments, with long-term (10 years) investments for strategic and major projects. Each year, a budget is planned, which correlates with the work planned in the Action Plan to achieve the strategic objectives set.
In 2024, modelling of the Group's GHG emissions (Scope 1 and 2) and a review of the plan of measures was carried out, prioritising measures based on the highest mitigation potential and their cost-effectiveness. Risks and their assumptions that may affect the achievement of the targets have also been identified, and emissions reduction scenarios (Scope 1 and Scope 2) have been modelled accordingly. We also note that the primary objective of all the Group's business segments is to contribute to the climate change mitigation objective under Regulation (EU) 2020/852 of the European Parliament and of the Council. The Group's taxonomy-eligible turnover in 2024 was 81.5%, capital expenditure 88.2% and operating expenditure 66.5%.
More detailed information about the Group’s GHG (greenhouse gas) emissions is disclosed in the Sustainability Report.