Prysmian Group accelerates in Race to net zero CO2 emission

€450M investment by 2022 to support Sustainability, Energy Transition and Digitalization

Prysmian Group accelerates in Race to net zero CO2 emission
Photo: Prysmian Group

Prysmian Group announces the launch of a new project aimed at accelerating the race to net-zero CO2 emission. 

The announcement has been made during its “Sustainability Day”, the digital stakeholders engagement event with Group top management sharing Prysmian’s vision, priorities and plans for a sustainability roadmap. The project aims to set science-based carbon reduction targets for the Prysmian Group, and will consider both Scope 1&2 (own organization) and Scope 3 (value chain) GHG emissions. Carbon targets are considered ‘science-based’ if they are in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement — to limit global warming to well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.

Prysmian Group is supported in the project by the Carbon Trust, the leading organization helping companies and government in realizing ambitious plans for a sustainable, low carbon future.

Prysmian Group Chief Executive Officer Valerio Battista says:

“As a Public Company we believe that sustainability must be part of our DNA. We are focused on improving the sustainability of our supply chain and in our organization and on the development of cable and optical fiber technologies for electrical and telecommunications networks, suitable to support the transition towards the use of renewable energy sources and towards a decarbonized economy”.

By 2022, Prysmian has planned to invest around 450 million euro to further improve the sustainability of its organization and supply chain and to accelerate the development of advanced cable technologies as well as assets and services. Energy consumption reduction, circularity and waste recyclability, health & safety culture are key in Prysmian’s efforts to improve sustainability of its supply chain.

The Transition towards renewable energy is very much linked to the capability to transmit and dispatch energy from one place to another, from those locations where renewable energy is produced (offshore wind farms) to those locations where is consumed (urban centers). Prysmian Group is committed to support the development of greener and smarter power grids, by making available innovative cable technologies to cover longer distances and sea depths, ensuring higher performances, reliability and sustainability. The launch of the new vessel “Leonardo da Vinci”, the world’s best performing and most capable cable layer, has also been confirmed and it will enter into operation in July 2021.