Mytilineos sets a strategic target for net zero carbon emissions by 2050

Updated: Feb 24, 2021

Mytilineos became the first Greek company to commit to minimising its carbon footprint to zero by 2050. The company aims to reduce its total direct and indirect CO2 emissions by at least 30% by 2030 and to 0% by 2050.

Athens, Greece: 18 February 2021

Mytilineos is one of Greece’s leading industrial companies, with activities in metallurgy, EPC, electric power and gas trading. The Company specialises in the construction of power plants from design and procurement through to construction and completion, and has achieved a strong activity in developing markets in Europe, the Middle East, Asia and Africa.

Mytilineos has set the following objectives:

Achieving net zero emissions and becoming a carbon neutral development & constructions company by 2030.
Becoming a global benchmark for Green Metallurgy by committing to reduce the absolute emissions of the metallurgy business unit by 65% and, respectively, the relative emissions by 75% by 2030.
Becoming a catalyst for a low-emission Greek electricity market, through the Electric Power & Gas Business Unit, by reducing its relative emissions by approximately 50% per MWh generated by 2030.

The Company’s Chairman and CEO, Evangelos Mytilineos said:

“Today, the need for urgent action to tackle climate change, is driving us to take a big steptowards this direction. The time has cometoset the ground for a 100% sustainable and green industrial activity,and we are committedand aspiredtoachieve30% reduction in emissions across our entire business activity by 2030 and net zero emissions by 2050. The ambitious targetsthatwe announce, are embedded inour corporate DNA, become a strategic pillar, a decision-making criterion,and a driver to every business operation. Moving forward, sustainable growth is and should be a priority for all. Only byaiming high andsetting boldtargets, all industries-including us-can ensure the creation of long-termvalue for all and a collective sustainable future for generations to come."

Mytilineos company has a track record of high performance, achieving a reduction of emissions per unit of revenue by more than 15% y-o-y, over the last 4 years.

Navigator Consulting Group provides Investment Advisory and Strategic Management services for companies in Greece, Cyprus and Internationally.

For further information, please contact:

Philip Ammerman

Managing Director

info@navigator-consulting.com

Sources:

MYTILINEOS sets new, ambitious, strategic targets for net zero emissions by 2050

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