€450M investment by 2022 to support Sustainability, Energy Transition and Digitalization
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. The launch of the new vessel “Leonardo da Vinci”, the world’s best performing and most capable cable layer, has also been confirmed and it will enter into operation in July 2021.
Prysmian Group invests over €100 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 is also committed to innovation in fibre and optical cables. The Group has recently launched the BendBrightxs 180µm fibre, the thinnest bend-insensitive optical fibre, and has succeeded in developing cables with an ever-greater fibre count and density and an ever-smaller cable diameter: the 6,912 fibre FlexRibbon, the optical cable with the highest fibre count in the industry, and the Sirocco HD and Sirocco Extreme microduct cables.
As a Group with a global footprint, we take our responsibility to create an inclusive environment seriously. We have a culture of sharing, collaboration, openness and transparency which means we embrace diversity, and we consistently monitor our progression. Prysmian Group believes in the value of individuals, backgrounds, leadership styles and attitudes because each person has the potential to generate value to the Company.