The plans were announced during its Sustainability Day, Prysmian’s stakeholder engagement event attended by Group top management which outlines the company’s vision, priorities and plans sustainability.
The project aims to set science-based carbon reduction targets for the Prysmian Group, and will consider both Scope 1&2 - within its own organisation and Scope 3 - within its value chain greenhouse gas emissions.
In order for these targets to be science-based they much be 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.
"As a Public Company we believe that sustainability must be part of our DNA," said Valerio Battista (pictured), chief executive officer, Prysmian Group.
"We are focused on improving the sustainability of our supply chain and in our organisation and on the development of cable and optical fibre technologies for electrical and telecommunications networks, suitable to support the transition towards the use of renewable energy sources and towards a decarbonised economy."
By 2022, Prysmian has pledges to invest around €450 million to further improve the sustainability of its organisation, supply chain and to accelerate the development of advanced cable technologies as well as assets and services.
Specifically, energy consumption reduction, circularity and waste recyclability, health & safety culture are key in Prysmian's efforts to improve sustainability of its supply chain.
Additionally, Prysmian Group is committed to supporting the development of greener and smarter power grids, by making available innovative cable technologies to cover longer distances and sea depths.
Prysmian Group is supported in its project by the Carbon Trust, an organisation helping companies and government meet its goals for a sustainable, low carbon operations.
