EPSO-G has published an audited report on the Group's Sustainability Progress for 2022 with an Independent Limited Assurance Report. The report was audited by PricewaterhouseCoopers.
The Group aims to integrate sustainability principles into the operations and processes of all Group companies. As a manager of strategically important energy infrastructure, EPSO-G aims to contribute to the implementation of the climate change and environ mental commitments set out in the Paris Agreement, the European Green Deal, the National Energy Independence Strategy and the National Climate Change Management Agenda.
1 June 2022 EPSO-G has issued a sustainability bond, raising EUR 75 million. This is the first sustainability related bond issue in the Baltics. The five year bonds were purchased by institutional investors from Lithuania, Latvia, Estonia and Sweden. The European Bank for Reconstruction and Development (EBRD) acquired almost a third of the issue for EUR 22.5 million.
The prospectus for sustainability linked bonds includes sustainability performance targets and indicators. The first target is to reduce greenhouse gas emissions from the Group's operations by 30% by 2026, compared to the 2019 base year. The second target relates to the reliability of the electricity transmission grid, aiming to ensure the lowest possible untransmitted energy rate of 136.255 MWh for the period 2022 2026.
PricewaterhouseCoopers assessed the calculation and disclosure of the Group's two Sustainability Performance Indicators: Scope 1 and Scope 2 greenhouse gas (GHG) emissions and the amount of electricity not transmitted due to disconnections (the energy not supplied, ENS)) indicator.
In its limited assurance report, the audit firm confirmed that the EPSO-G Group has calculated and disclosed the two indicators for 2022 in accordance with the criteria for disclosure of the sustainability indicators.
The EPSO-G group of companies consists of the holding company EPSO-G and its five direct subsidiaries Amber Grid, Baltpool, Energy cells, Litgrid and Tetas. EPSO-G and its Group companies also hold shares in GET Baltic, Baltic RCC OÜ and TSO Holding AS. The rights and obligations of the sole shareholder of EPSO-G holding are implemented by the Ministry of Energy of the Republic of Lithuania.