Energean: Among the most sustainable companies in Greece for 2022

Energean achieved the highest distinction in Sustainable Development in Greece, as it was selected among the most Sustainable Companies in our country (Most Sustainable Companies in Greece) for 2022, a distinction that concerns the recognition of those companies that apply a holistic approach to the issues of Sustainable Development by systematically integrating it into their business operation.

Ms. Ilia Riga, Head of Corporate Social Responsibility of the Energean group stated the following: “We are very happy but also proud of the inclusion of Energean in the most Sustainable Enterprises of our country for 2022 (…) with the companies – models that shape the Business Charter of Sustainable Development in our country, gives us strength to continue on this path but also to intensify our efforts. At Energean, the Corporate Social Responsibility policy is fully in line with our values, the high standards we set and the way we operate. Our priorities focus on four key pillars: our people, our health and safety, our environment and our relationship with society.

Our planning follows internationally recognized standards and our actions, as well as our commitments, are part of the United Nations Agenda for 2030 and its vision for Sustainable Development. In all our actions, we seek to raise public awareness and our employees and we are very pleased that we have now extended Social Responsibility activities and initiatives to other Mediterranean countries where Energean is present in business. We hope that the forthcoming return to normalcy will allow us to soon organize actions again where we will have our employees and fellow citizens as participants in the areas where we operate “.

Commitment to zero greenhouse gas emissions by 2050

Dr. Katerina Sardi, CEO and Country Manager of Energean in Greece stated the following: “We are very pleased with the selection of our company in the most Sustainable Companies in Greece and we warmly thank the judges of the QualityNet Foundation for this important distinction. Energean operates in 8 countries in the Mediterranean and the North Sea and was the first hydrocarbon exploration and production company in the world to commit to a zero balance in greenhouse gas emissions by 2050. We are already working to achieve the goal by 2025, achieving a reduction of 85% compared to 2019 which is the reference year, at levels 60% lower than the current industry average internationally.

Especially in Greece, having ensured the coverage of the needs of the Prinos complex with electricity produced 100% from renewable sources, we managed to get to zero emissions of Scope 2 and reduce by about 50% the total greenhouse gas emissions. We have launched two investments of the order of 600 million euros in total that will have huge benefits for the environment but also for the competitiveness of the industrial enterprises of our country.

The first investment concerns Carbon Storage, which in its first development will be able to block all carbon emissions from the domestic industry for a decade, starting from 2025, saving on business costs, 8 billion euros based on current data. The second concerns the construction of an ecological hydrogen production unit (eco H2) which will be able to produce about 40 tons of hydrogen per day cpturing more than 99% of carbon dioxide emissions. This is a quantity corresponding to an energy of 0.5 terawatt hours per year, capable of moving a car for 4 million kilometers. These investments will make Prinos a model industrial complex for the Mediterranean and will confirm our company’s commitment to Sustainable Development.”