Climate change affects the Group’s business activities, creating significant challenges and opportunities. In order to properly manage and address climate change, the Group has developed a strategy for its energy transformation towards a low carbon economy, responding to the continuing increase in energy demand and ensuring energy sufficiency by taking relevant measures and implementing emission reduction projects. The Group's future investments are highly determined by its climate change strategy.
The implementation of the Group’s environmental policy related to energy and climate change is achieved by a series of tools, such as setting targets and key performance indicators. All environmental parameters are also monitored through European indicators and benchmarks are used to assess the Group’s position in relation to the European industry performance. In the framework of GHG emissions monitoring and reporting, the Group systematically monitors not only direct CO2 emissions (Scope 1), but also indirect emissions (Scope 2 and 3) to the maximum extent of its activities. Moreover, our staff’s and social partners’ continuous environmental education across a wide range of activities within the Group is an important part of our climate change management.
In addition, the Group is actively involved in the development of energy and climate change policies at a national and European level, including the EU ETS, the Energy Efficiency Directive and others.
In the context of all the above and with the main focus on continuous improvement, the Group participates since 2018 in the annual international evaluation of the CDP (formerly Carbon Disclosure Project) on climate change, the only Greek energy sector participation (until 2020). Thus, every year the Group is invited to provide data not only on its current climate change management but also on the overall strategy to be followed in the future. The CDP questionnaire based on four pillars which outline the holistic approach of each company on the above. These pillars are corporate governance, the risks & opportunities that arise due to climate change, as well as the business strategy developed in this context. Moreover, the Group's performance in terms of CO2 emissions as well as other gaseous emissions is recorded in detail along with data on traded products, waste and wastewater management and the results of the Group’s climate change objectives. It is noted that since 2018, the CDP has incorporated questions from the Task Force on Climate-related Financial Disclosures/ TCFD, which focus on the business risks of climate change.
The result of HELPE strategy & performance rating remains for the last 3 years at the level of "Management - Taking coordinated action on climate issues" and specifically at “B-“, in relation to the average “B” rating for Oil & Gas Processing and the average “C” rating for all companies in Europe and globally (thereby laying the basis for further & continuous improvement). It is important to mention that every year actions are taken for further improvement, which, however, have not yet been reflected in the ranking.