The Company carefully studying the existing important social, environmental and economic challenges, which affect its activity, proceeded to create a new strategy for Sustainable Development, which aims to create long-term and sustainable value, for its shareholders and the rest of its Social groups Partners, through a holistic approach that combines economic stability with social and environmental sustainability. The Company's new strategy is implemented through three basic levels, which are inextricably linked to each other, while it is governed by specific Principles that ensure completeness (Principle of Materiality), quality (Principle of Participation of Social Partners) and transparency (Principle of Accountability) in the whole range of its activity.
The first level focuses on the Company's commitment to tackling Climate Change and its contribution to a low-pollution economy. MYTILINEOS is fully aware that climate change is one of the most urgent issues facing the planet for the next decade. Considering the high intensity of CO2 emissions in the production processes of both aluminum and electricity, climate change is a key element for the sustainability of its activities. In this context, the Company designed an up-to-date climate change strategy that directs its initiatives to reduce carbon dioxide emissions as defined by the Kyoto Protocol, the Paris Agreement on Climate Change (COP21) and the corresponding National Plan of Greece, which determines its contribution to the European Green Deal (EU Green Deal). MYTILINEOS becomes the first Greek industry to set specific, measurable and ambitious CO2 emission reduction targets for 2030 and 2050, thus making the reduction of its carbon footprint a priority of its new Sustainable Development strategy. In addition, the creation of new sectors of the Company's business activity oriented towards the dynamic development of sustainable development projects internationally (Renewable Sources and Energy Storage Development Sector and Sustainable Development Projects Sector) are predicted to play, in the next decade, an important role in the energy transition and reduction of greenhouse emissions globally, giving MYTILINEOS the opportunity to scale up its positive impact.
The second level highlights MYTILINEOS' systematic approach to recording, optimally managing and disclosing ESG risks and opportunities that affect its performance as well as its effort to implement its strategy. Through the ESG approach, MYTILINEOS strengthens its ability to create long-term value and manage the significant changes in the environment in which it operates. In this way, it responds both to the modern sustainability requirements of the investment community, capital markets and financial organizations, as well as to society's expectations for commitment and transparency in these issues, which are constantly increasing.
The third level expresses the responsible operation of MYTILINEOS which has been cultivated systematically, over the last 12 years, through the application of Corporate Social Responsibility (CSR) and the Company's commitment to the 10 Principles of the UN Global Compact . The E.K.E. for MYTILINEOS it is a continuous process of self-improvement and continuous learning, while it also functions as a basic mechanism for renewing its "social" operating license, while improving its competitiveness at national and international level.
