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ČEZ intensifies its transition to future emission-free energy to become carbon-neutral by 2050

Czech utility group ČEZ has intensified its transition to future emission-free energy, in line with its strategy that primarily aims at transforming its production portfolio to low emissions by 2030, becoming carbon neutral by 2050 and offering the best energy solutions and customs experience in the market.

The Vision 2030 strategy, referred to as the Clean Energy of Tomorrow, confirms ČEZ Group’s ambition to be a leader in sustainable development in the Czech Republic as well as in the entire Central Europe.

“It is our obligation toward our customers, employees and society as a whole to reduce the amount of power generated from coal and substitute it with production from clean sources,” said Daniel Beneš, ČEZ Group’s Chief Executive Officer and Chairman of the Board of Directors. “Therefore, we are going to increase the capacity of emission-free sources to 6,000 [megawatts] MW by 2030. It is a global priority to try and prevent climate change and, thereby, the social and political pressure on the energy sector has been growing. Decarbonisation goals have not only become stricter in Europe but also in other parts of the world.”

“That is also why we have accelerated our strategy and continue to adapt our corporate governance to a rapidly changing environment in order to continue creating long-term sustainable values that are key for the entire society,” Mr Beneš explained.

This also relates to the company’s approach to its social responsibility policy in accordance with the current demands for its ESG performance, which is today evaluated by numerous rating agencies not just within the energy sector.

In particular, by 2030, ČEZ Group is going to reduce its emissions by 55 per cent compared to 2019. In 2025, the company plans to only generate 25 per cent of its total generated power from coal and only 12.5 per cent in 2030. At the same time, it will focus on building new capacities of renewable sources (RES), specifically 1.5 gigawatts (GW) of RES installed capacity by 2025 and a total of 6 GW in RES by 2030. Nuclear power plants will remain a part of the carbon-neutral and stable portfolio. The company is going to enhance their efficiency and, thus, improve the energy security and self-sufficiency of the Czech Republic. For this reason, the plan also retains the construction of a new nuclear unit in Dukovany.

Emission reduction will be supported by a continued development of the currently most extensive electromobility charging network in the country. By 2025, ČEZ will operate at least 800 public charging stations.

“We also expect to invest significantly in smart grids and products that will allow households to save energy and reduce emissions,” added Pavel Cyrani, Vice-Chairman of the Board of Directors and Sales and Strategy Division Director.

Vision 2030 also emphasises digitalization and employee care in view of the changing qualification requirements and structure of production sources and services provided by ČEZ Group. 

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