Italian electric power and telecommunications cable manufacturer Prysmian Group announced a series of sustainability initiatives aiming on accelerating its path to net zero carbon emissions. The new program will see the company investing €450 million by 2022 to support sustainability, energy transition and digitalization efforts.
According to Prysmian, the new initiative includes a commitment to set science-based carbon reduction targets, taking into account both Scope 1 and 2 (own organization) and Scope 3 (value chain) greenhouse gas (GHG) emissions. The company stated that supply chain efforts will focus on energy consumption reduction, circularity and waste recyclability, and health & safety culture.
The company also said that it aims to play a role in the transition to renewable energy, and to supporting 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 stated that it is being 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.
Prysmian Group Chief Executive Officer Valerio Battista, said:
“As a Public Company we believe that sustainability must be part of our DNA. 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.”