Prysmian Group accelerates in Race to net zero CO2 emission

- EUR450M investment by 2022 to support Sustainability, Energy Transition and Digitalization

MILAN, Nov. 26, 2020 /PRNewswire/ -- Prysmian Group announces the launch of a new project aimed at accelerating the race to net-zero CO2 emission. The announcement has been made during its "Sustainability Day", the digital stakeholders engagement event with Group top management sharing Prysmian's vision, priorities and plans for a sustainability roadmap. The project aims to set science-based carbon reduction targets for the Prysmian Group, and will consider both Scope 1&2 (own organization) and Scope 3 (value chain) GHG emissions. Carbon targets are considered 'science-based' if they are in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement -- to limit global warming to well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.

Prysmian Group is supported in the project by the Carbon Trust, the leading organization helping companies and government in realizing ambitious plans for a sustainable, low carbon future.

"As a Public Company we believe that sustainability must be part of our DNA," says Prysmian Group Chief Executive Officer Valerio Battista. "We are focused on improving the sustainability of our supply chain and in our organization and on the development of cable and optical fiber technologies for electrical and telecommunications networks, suitable to support the transition towards the use of renewable energy sources and towards a decarbonized economy".

By 2022, Prysmian has planned to invest around 450 million euro to further improve the sustainability of its organization and supply chain and to accelerate the development of advanced cable technologies as well as assets and services. Energy consumption reduction, circularity and waste recyclability, health & safety culture are key in Prysmian's efforts to improve sustainability of its supply chain.

The Transition towards renewable energy is very much linked to the capability to transmit and dispatch energy from one place to another, from those locations where renewable energy is produced (offshore wind farms) to those locations where is consumed (urban centers). Prysmian Group is committed to support the development of greener and smarter power grids, by making available innovative cable technologies to cover longer distances and sea depths, ensuring higher performances, reliability and sustainability.

Prysmian Group invests over EUR100 million annually in Research & Development. Prysmian's most recent technological innovations include the P-Laser cable systems ensuring greater transmission capacity, high performance and environmental sustainability (100% recyclable material and up to 40% reduction in CO2 emissions), cables for installation in HVDC links in long lengths, synthetic armored cables for record-depth installation, grid monitoring and management technology.

Prysmian Group

Prysmian Group is a world leader in the energy and telecom cable systems industry. With almost 140 years of experience, sales of over EUR11 billion, about 29,000 employees in over 50 countries and 106 plants, the Group is strongly positioned in high-tech markets and offers the widest possible range of products, services, technologies and know-how. It operates in the businesses of underground and submarine cables and systems for power transmission and distribution, of special cables for applications in many different industries and of medium and low voltage cables for the construction and infrastructure sectors. For the telecommunications industry, the Group manufactures cables and accessories for voice, video and data transmission, offering a comprehensive range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company, listed on the Italian Stock Exchange in the FTSE MIB index.

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