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CEZ Group reduced direct greenhouse gas emissions by 12%, latest report says

The new 2023 Sustainability Report of Czech electricity group CEZ found that the company’s production continues to become greener.

Last year, the company reduced direct greenhouse gas emissions by 12 per cent year on year, which corresponds to a saving of approximately 2.2 million tonnes of CO2. Thus, CEZ is on a good track to achieve its goal of climate neutrality by 2040. At the same time, it increased investments in taxonomy-aligned activities which accounted for over two-thirds of all investments. Moreover, recent ESG statistics are presented in the new report including around 300 diverse environmental, social and governance indicators.

“Over the last five years, CEZ Group has reduced its emission intensity by 28 per cent,” said Board Member and Chief Sustainability Officer Michaela Chaloupkova. “Most of our electricity is already generated from emission-free sources. We have also been successfully reducing other emissions, such as dust, or overall water consumption. At the same time, our investments into green activities have been growing.”

With regards to CEZ Group’s progress in ESG, according to CSR Hub, a company that aggregates ratings from dozens of agencies into a single final indicator, in 2023 the company ranked among the top 16 per cent of the world’s best-rated firms. These figures are very important for banks: CEZ already has three lines of credit linked to the development of ESG indicators, where a better rating means lower interest rates and vice-versa.

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