Greek Power Company PPC Joins CSR Europe to Strengthen Sustainability Efforts
The Greek power company PPC has joined CSR Europe and its network of leading businesses at the forefront of sustainability.
By joining CSR Europe, PPC enhances its commitment to sustainability and social responsibility, leveraging the network and resources to consolidate its thought leadership and identifying opportunities for collaborations which could further PPC’s contribution to the Sustainable Development Goals (SDGs) and create shared value for people, the planet and prosperity.
As Greece's largest electricity provider, PPC provides 5.6 million customers with reliable, affordable, and increasingly low-carbon energy. PPC’s mission is to lead the development of sustainable and innovative energy solutions that align with the ambitious 2050 climate neutrality goals of the European Union and Greece. The company endeavours to play a pioneering role in the advancement of Southeastern Europe's energy sector and in carrying out Greece’s ambitious Just Transition plan. Additionally, PPC is on a mission to transform itself into a financially & environmentally sustainable, modern digital utility, setting an example for others to follow.
Sustainability and corporate responsibility are central to PPC’s business. PPC’s sustainability commitments include closing lignite-fired power plants, carrying out soil rehabilitation at lignite mines, promoting energy efficiency and reduced consumption, as well as promoting efficient and responsible use of natural capital and biodiversity protection.
Additionally, PPC is ramping up investment in renewable energy sources – with more than 300MW of RES capacity in operation and a plan to exceed 5GW by 2026. Additionally, PPC committed to the Science-Based Targets Initiative (SBTi) in May 2022 and is currently in the process of developing and submitting for validation its short- and long-term targets in line with the SBTi guidelines and methodology, to achieve the end goal of net zero emissions by 2040. In the meantime, PPC has already achieved a 36% reduction in CO₂ emissions by 2022 (Scope 1 category with base year 2019).
PPC is also focused on supporting the well-being of employees, customers, local communities and other stakeholders, promoting fair labour practices in the company's operations and supply chain, fostering a culture of responsible and ethical behaviour, promoting diversity, equity and inclusion, and providing opportunities for professional development and training.
Today’s partnership complements PPC’s long-standing cooperation with various sustainability organisations. For example, PPC was an active early signatory of Business for Nature’s “Make it Mandatory” Campaign. PPC has also been an active member of CSR’s regional Greek branch, CSR Hellas, participating in several initiatives including the “Pact For Sustainable Industry”, as well as the UN Global Compact Hellas Network.
PPC is looking forward to working with CSR’s corporate leaders and sustainability experts to deepen and share its knowledge, experience, and insights on how to integrate sustainability into business operations and strategies. PPC’s mission is to promote corporate responsibility and sustainable development across its business activities. PPC’s membership in CSR Europe reflects its ongoing commitment to sustainability and corporate responsibility, as well as its ambition to contribute to a more sustainable future for Greece and Europe.
Georgios Stassis, CEO, said:
“With new scenarios talking about a 2.2 Celsius degrees temperature increase, the energy sector is at the heart of developments concerning social, financial, and environmental balance and will be the main contributor to the achievement of the global goal for a net zero economy by 2050. In our sector, the need to strike a balance in the most difficult energy “trilemma” of our times - security and affordability without risking sustainability - makes the need for transition to clean energy more relevant and pressing than ever.”
Achilleas Ioakimides, Sustainability Director, said:
“Sustainable Development is an integral part of PPC’s long-term business strategy and the driving force through which the company aspires to remain competitive and overcome global challenges. Our declared ambitions are related to the transition to a low carbon economy, the reasonable use of resources and the preservation of natural systems and the socioeconomic shared value creation by strengthening the economy, people and social collective action. “
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