10 Going Green, Going Digital: the twin transitions As a key player in the energy and digital transformation processes, Prysmian can set an example with its own green targets and strategy. Its new and ambitious emission reduction targets have recently been approved by the Science Based Targets initiative (SBTi), Chief Sustainability Officer Cristina Bifulco announced during the event in Milan. Prysmian is now committed to reducing total Scope 1 and 2 greenhouse gas emissions by 47% and Scope 3 emissions by 28% by 2030, compared to the 2019 baseline. The new targets are more challenging than the previous ones, which were a reduction of 46% (Scope 1&2) and 21% (Scope 3). Its net-zero goals, to cut Scope 1 and 2 emissions by 90% by 2035 compared to the 2019 baseline and to reduce Scope 3 emissions by at least 90 % by 2050, have also received SBTi approval, she said. Bifulco said. This year the company launched a new three-year scorecard for 202325, including a goal to enable green electricity access for 110 million households and fast digital access for 15 million households by 2025. Operating in such a vital industry for the energy transition has meant that Prysmian’s approach has moved from a focus on shareholder return to a multistakeholder strategy, Chief Financial Officer Pier Francesco Facchini told the summit. This has meant that integrated reporting (delivered for the first time in Prysmian history on fiscal year 2022) combining financial and nonfinancial elements has become a very important communication and strategy tool. He said integrated reporting is already providing significant benefits for Prysmian, with many customers looking for high quality and extensive Environmental, Social and Governance (ESG) reporting when deciding on tenders. It also helps to attract and retain talented younger employees who are often particularly attentive to these factors, and to access sustainable finance. NEW TARGETS APPROVED ADVANCES IN INTEGRATED REPORTING “We have long-term ambitions, but at the same time, we have designed a very concrete roadmap with shorter-term targets to make sure that we are able to track our achievement and to adjust, if necessary.” Cristina Bifulco Prysmian’s Chief Sustainability Officer
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