Climate Change Ambition

ENVIRONMENTAL SUSTAINABILITY

Climate Change Ambition

Our goal is to become global leaders in sustainability. To do this, in 2021 we formalized the strategic approach that guides our activities on combating climate change, the Climate Change Ambition.

The ambition is to achieve carbon neutrality along our entire value chain by 2050, following a step-by-step path with a number of intermediate targets endorsed, along with long-term targets, by the Science Based Targets initiative (SBTi). The Climate Change Ambition aims to position the Group as a major technology player in the transition to low-carbon energy.

Target Science Based

In 2023, Prysmian obtained official validation by the Science-Based Targets initiative (SBTi) of its decarbonization targets:

Overall Net-Zero Target - net zero GHG emissions along the entire value chain by 2050;
Short-term goals - reduction of Scope 1 and 2 GHG emissions – in absolute terms – by 47% by 2030, compared to emissions recorded in the year 2019; reduction of Scope 3 GHG emissions – in absolute terms – by 28% over the same time horizon.
Long-term targets (net zero) - reduction of the Scope 1 and 2 emissions – in absolute terms – by 90% by 2035; reduction of the Scope 3 emissions – in absolute terms – by 90% by 2050, compared to emissions recorded in the year 2019.

These goals include phasing out SF6 emissions and using 100% renewable energy for electricity consumption. To achieve them we will invest about Euro 100 million over 10 years in all Global Operations at our more than 100 sites.

The efforts made by the company have already shown promising results. Also in 2023, during Capital Markets Day Prysmian announced that it was ahead of its decarbonization targets, anticipating in 2027 a -45% reduction in Scope 1 and 2 emissions, and a -23% reduction in Scope 3 emissions.

Based on this commitment and in line with the SBTi-approved net-zero trajectory, we decided in January 2024 to set a goal of achieving a percentage reduction in Scope 1 and 2 emissions of between -55% and -60% in 2030, as compared to -47% approved by SBTi. This target represents the Group's further commitment to the process of decarbonizing its operations by implementing internal solutions and processes that further limit its impact on the environment.

The Transition plan towards net zero target

Environmental Responsibility

The Group monitors and reports its environmental impacts in terms of energy and water consumption, hazardous and non-hazardous waste, recycled waste and greenhouse gases. Our 2023-2025 Scorecard call for us to reduce our environmental footprint. Prysmian reports also those impacts that are most significant in terms of responsibility towards employees, local communities and as a competitiveness and value factor for the Group.

Discover more

Our Sustainable Products

One of the ways we are working to achieve the energy transition for our clients is to make our products increasingly sustainable. We have launched the industry’s first green label with ECO CABLE, an internally developed label, based on internationally recognized criteria, that measures the carbon impact of selected products. Alesea is an IoT solution that provides virtual assistance for cable drum management, cutting down on waste. Our P-Laser cable is 100% recyclable. Pry-ID and Kablee both use digital technology to help cut down on energy use and waste.

Discover more

Our investment in sustainable innovation

Prysmian’s 1000 professionals carry out Research & Development at 26 centers around the world, accounting for a €114 million investment in 2022. We also reach outside the company to invest in an innovation eco-system in close contact with customers and suppliers, as well as some of the best universities in the world. Our continuous work and commitment in Research and Development confirms the strategic priority of the Group to innovate in favor of the energy transition process.

Find out more

2022 Certifications

Prysmian's goal is to exceed its customers' expectations and to uphold its commitments to its stakeholders — individuals, partners, suppliers and shareholders — while also reinforcing its position as a solid market leader.

The management systems in place at all production plants are ISO 9001-certified, bearing witness to the Group's commitment to the performance of its quality management system and constant improvement of its processes. External certification audits are performed each year on the main company processes, including performance analysis, risk management, procurement, planning, design, sales.

In addition, all health, safety and environment policies and initiatives are compliant with the ISO 45001, ISO 14001 and ISO 50001 international standards.

At the end of 2022, the percentage of Prysmian's plants certified ISO 14001 rose to 97%, and six new facilities were awarded ISO 45001 certification, bringing the global percentage to over 73%. Various types of organisational units within the Group were certified, including research centres, installation activities and assembly and distribution centres. The HSE function monitors and periodically updates the ISO 14001 certification programme to ensure compliance with certification objectives and to plan the integration of any new acquisitions in a timely manner.

The Group's rules and methods on Quality, Health, Safety and the Environment are designed to ensure that all of its activities meet its customers' requirements, technical standards, applicable laws and regulations and internal company policies. Prysmian is committed to promoting a business model that integrates economic, social and environmental responsibility into all its aspects and activities.

Download the Certification ISO 9001:2015

Health, Safety, Environment and Energy Policy

Download the policy Integrated sustainability strategy