ENVIRONMENT

In its attempt to contribute substantially to addressing the impacts of climate change, Corinth Pipeworks makes significant efforts to monitor gas emissions released into the atmosphere as a result of its operations. Following the international initiative of Greenhouse Gas protocol, the Company has recognized the “value chain” and records, controls and reduces the environmental impact caused by emissions of air pollutants.

Corinth Pipeworks monitors and controls gaseous pollutants at the following stages:

1. Direct emissions (Scope 1).
2. Indirect emissions inside the Company (Scope 2).
3. Regarding indirect emissions outside the company (Scope 3), Corinth Pipeworks monitors and controls them only with regard to management of waste arising from production process (see "Waste management").

Corinth Pipeworks’ target is to reduce the environmental impact and facilitate its on-going monitoring and recording. Minimizing direct and indirect emissions in conjunction with the use of renewable energy are among Company’s priorities. Corinth Pipeworks contribution in the overall procedure of development and use of the products is rather limited. The value chain on the production and use of steel pipes in regards to the Company’s contribution is presented on page 65 of the Annual Financial and Sustainable Development Report 2013.