The SBTi mobilizes companies to set science-based targets and boost their competitive advantage in the transition to a low-carbon economy. It is a partnership between CDP, United Nations Global Compact, World resources Institute (WRI) and the World Wide Fund for Nature (WWF) and provides independent assurance and validation of corporate targets based on current and valid climate data. The objectives of the SBT initiative enable companies to understand to which extent and how quickly they need to reduce greenhouse gas emissions in order to prevent the most adverse impacts of climate change. In this way, companies can set a clear path towards decarbonization, contributing to tackling global warming and taking advantage of the relevant opportunities.
MYTILINEOS is one of the first Greek industrial companies to commit to the SBT initiative. By joining the SBTi the Company focuses on confirming that its climate mitigation targets initiatives are aligned with the latest available scientific data and forecasts on climate change as well as the relevant European and national strategy.
MYTILINEOS aspires to deliver on its CO2 reduction targets by implementing a major portfolio of Renewable Energy Sources projects in Greece and internationally, by sourcing electricity in the Metallurgy Business Unit exclusively from renewable sources, by developing low-emissions products such as recycled aluminum, by significantly increasing the use of aluminum scrap, by using RES-derived electricity in aluminum production, by using battery energy storage in construction sites, by using electric vehicles and by replacing gas-fired office heating installations with electric heat pumps.
In addition, MYTILINEOS will continue to invest in the application of cutting-edge technologies and in the use of digital industrial processes in the production stages, to improve energy efficiency and reduce emissions, such as by digitizing the foundry at the ‘Aluminum of Greece’ plant in the Metallurgy Business Unit - in cooperation with General Electric - and by applying Metsol technology to reduce PFC emissions, actively contributing to a carbon neutral future by 2050.
Previously, MYTILINEOS joined the supporters of the global “Task Force on Climate-related Financial Disclosures” (TCFD) initiative in June 2021, which aimed at adapting and addressing the impact of climate change on its activity.
