MYTILINEOS

The term "climate change" refers to the change in the global climate caused by human activities and mainly caused by the increase in the concentration of greenhouse gases in the atmosphere. Globally there is already an increase of approximately 1°C compared to pre-industrial levels, while according to the findings of modern studies such as e.g. of the Committee for the Study of the Effects of Climate Change (EMEKA) in Greece, the increase may reach up to 6°C in 2100, if there is no concerted action to arrest climate change, through the reduction of greenhouse gas emissions, with the cost of the impacts to be particularly high. Therefore, the E.E. aims to reduce greenhouse gas emissions by at least 55% by 2030. This goal is the result of the Paris Agreement on climate change and the European Green Deal. Greece belongs to the most climate-ambitious countries and supports every European initiative for the drastic reduction of greenhouse gas emissions. In this direction, in recent years MYTILINEOS has focused on maximizing financial returns to its shareholders, while also remaining true to a firm commitment to sustainability. MYTILINEOS Company has cultivated a corporate culture that considers ESG and Sustainability in general as one of the most important pillars for our long-term development strategy. At the same time, the Company is the first Greek industrial company that in 2020 proceeded, after a special study, which utilized the latest available scientific data regarding the forecasts for the evolution of the climate, as well as the relevant European and national strategy, in defining ambitious targets to reduce its carbon footprint while further integrating sustainability into its corporate DNA. The strategic priorities of MYTILINEOS, in this area, are in agreement with the European Green Agreement (EU Green Deal), contributing substantially to the transformation of the country's energy model and industry, with the perspective of utilizing the funds it will offer. MYTILINEOS plans to submit a statement of commitment to the global "Science Based Target Initiative" (The Science Based Targets Initiative (SBTi) promotes ambitious climate action in the private sector by enabling companies to set science-based emission reduction targets) in order to subject the aforementioned carbon reduction targets to external, independent validation, ensuring that they have been calculated on a scientific basis. In this way, the Company confirms its commitment to the goals of the Paris Agreement and contributes and leads the way in addressing the threat of climate change at a national and global level, in fact in conditions of increased uncertainty and economic recession, as the response to the health crisis from during the pandemic, the European framework becomes the first priority.

Specifically, MYTILINEOS is committed through the implementation of specific initiatives:

By 2030: to reduce by at least 30% its total CO2e emissions (Scope 1 & 2) compared to 2019 levels and to achieve a neutral carbon footprint in 2 of the 4 Sectors of its Business Activity.

By 2050: the achievement of a neutral carbon footprint of all its operational units.

These ambitious goals are the common component of the individual commitments at the level of Business Activity Sectors:

TED Metallurgy:

• 65% Reduction of total CO2e emissions (scope 1 & 2) until 2030 65% (compared to 2019 levels)
• 75% Reduction of specific CO2e/t Al emissions by 2030 75% (compared to 2019 levels)
• Achieving a carbon neutral CO2 footprint of the Sector by 2050

TED of Electricity & Natural Gas Trading:

• 50% Reduction of specific emissions CO2e / MWh by 2030 50% (compared to 2019 levels)
• Achieving a carbon neutral CO2 footprint of the Sector by 2050

TED of Sustainable Development Projects and TED of Development of Renewable Sources and Energy Storage:

• Achieving a carbon neutral CO2 footprint of the Sector by 2030

To all groups of Social Partners that are directly and indirectly affected by the activity of MYTILINEOS.
 

MYTILINEOS laid the foundations for a 100% sustainable and green industrial activity and committed to a 30% reduction in emissions for all its business activity by 2030 and a carbon neutral footprint by 2050.
 

MYTILINEOS is committed to reducing its carbon footprint (carbon dioxide emissions) as well as other gaseous emissions, with the aim of minimizing the impact on the quality of the atmosphere in the areas in which it operates and in general dealing with the causes and effects of the climate change phenomenon . The Company promotes the use of natural gas, as a fuel for the transition to the "green energy" era, both in all its industrial units and in the context of new business investments in the Electricity Sector through the foundation of the new combined cycle power plant natural gas-fired (CCGT) plant established in 2019. The plant will bring state-of-the-art technology that will make it the most powerful and efficient power plant in the country and one of the largest and most efficient power plants in Europe. MYTILINEOS has adopted a climate change strategy, which is reflected in its overall environmental policy and directs the Company's initiative to reduce carbon dioxide emissions. The goal is to reduce the levels of direct and indirect carbon dioxide emissions as defined by the Kyoto Protocol and the Paris Agreement on climate change (CoP21) by 30% by 2030.

The reduction initiatives planned by the Company focus on:

• in strengthening its presence in the production of electricity from RES, with the further implementation of an important portfolio of RES projects >2.5GW, in Greece and internationally,
• to electrify the Metallurgy Sector exclusively from renewable sources,
• in the use of low-carbon fuels in its activities, in the application of cutting-edge technologies and the utilization of digital industrial methods in the production stages, to improve energy efficiency and reduce emissions, such as e.g. the digitalization of the foundry at the Aluminum plant in collaboration with General Electric, and the application of Metsol technology to reduce PFC emissions,
• to the significant increase in the amount of second-cast aluminum produced, as well as the significant increase in the amount of aluminum scrap, in the production of primary aluminum,
• in the use of electricity from RES and energy storage through batteries on construction sites,
• in the use of electric vehicles,
• in the replacement of the heating installations of the office spaces based on natural gas, with electric heat pumps.

In all areas where MYTILINEOS operates. The Company has developed a strong international presence in the markets of all five continents, in more than 30 countries.
 

The total energy consumption from the activity of MYTILINEOS in 2020 showed a slight increase of 2.4%, compared to 2019, which was mainly due to the increase in the amount of natural gas used both in the thermal units of the Electricity and Natural Gas Sector for the electricity production as well as in the Metallurgy Sector for the production of Aluminum. In particular, the total energy consumption from conventional energy sources (natural gas, oil, petrol) increased by 3%, while the electricity market for consumption, which is supplied entirely from the grid, remained stable (marginal decrease of 0.2 %), while almost 28% of this came from renewable sources.

At the level of energy intensities in the Metallurgy Sector, stabilizing performances were noted, while in the Electricity & Natural Gas Sector the specific production consumption per Tj of electricity decreased by 5.9% compared to the previous year.

MYTILINEOS' Metallurgy and Power Sectors generate more than 99% of direct and indirect carbon dioxide (CO2) emissions. Direct emissions (scope 1) result primarily from the alumina and aluminum production process (fuel consumption and chemical treatments as part of the production process) as well as from the power generation process (through natural gas consumption), while indirect emissions (scope 2) correspond to electricity consumption. Despite the small increase recorded in direct emissions, by 3%, mainly from the increase in the amount of natural gas used, in 2020 the total of the Company's direct and indirect emissions decreased by almost 4%, compared to 2019. This total reduction results from the partial improvement of Scope 2 indirect emissions by 14%, due to the evolving change of the energy mix in Greece in 2020, through gradual lignite generation and the use of more energy from renewable sources.

Regarding the other important gaseous emissions, the most notable changes since 2019 were:

• The reduction of the total amount of nitrogen oxide emissions (NOX) by 4.7%.
• The significant reduction of 12.2% in the amount of sulfur oxides (SOX) emissions. As part of the adaptation to the Best Available Techniques, the Metallurgy plant proceeded to impose additional restrictions on the supply of pitch and coke for the production of electrodes, regarding their Sulfur (S) content.
• The also significant reduction of 14.6% in the amount of particles.
• The small increase of about 4%, in the emissions of PFCs, despite the continuous effort, the systematic controls and the appropriate technical interventions applied for their control, in the process of the electrolysis of anhydrous alumina for the production of primary aluminum. In response to the increase in PFCs emissions, the Metallurgy Sector is already taking actions to address and further reduce in line with carbon footprint reduction targets.
   

Sustainable Development must become everyone's priority. Only by setting bold and lofty sustainability goals, starting with us industries, can we ensure the creation of long-term value for the benefit of all and a collective sustainable future for generations to come. MYTILINEOS Company is the first Greek Company, as well as one of the first industries in Europe and the world, to set clear goals and commit to minimizing its carbon footprint.