Sustainability
OUR APPROACH
Cenergy Holdings’ companies are strongly committed to operating according to sustainability principles and they are very well positioned to contribute to a low carbon, circular economy. The companies will continue to demonstrate sound business practices in an ethical and responsible manner while staying committed to providing a safe work environment and continuously improving their environmental footprint. The companies engage and create partnerships with customers and community stakeholders, while building a sustainable future for everyone in order to preserve long-term value for their stakeholders.
Sustainability risks’ mitigation is a priority for Cenergy Holdings’ companies and constitutes a strategic commitment of our management.
Our companies adopted a coherent, integrated sustainability strategy that incorporates actions for major risks and opportunities related to the environment, society and corporate governance.
Due to the industrial nature of our companies, our future is closely linked with the ability to operate in a sustainable way.
By formulating appropriate policies and performance indicators, the sustainable development strategy lays the foundation for effective identification, monitoring and management of material sustainability risks.
OUR STRATEGY
- Recognition and analysis of risks and opportunities in environmental, social and governance matters, taking into account all contributing factors, including the climate crisis, the requirements of the Green Deal and environmental legislation, health and safety at work
- Updating of key corporate sustainability policies and integration of these policies into the Company’s strategy
- Formulation of indicators for monitoring performance
- Establishment of mechanisms for due diligence
- Integration of governance measures to ensure transparency and responsible operation
- Setting of medium – and long-term goals for reducing the environmental footprint from energy use and implementing a five-year continuous improvement plan in occupational health and safety
PERFORMANCE
Our companies’ core business and the way we operate contribute directly to and support several of the United Nations Sustainable Development Goals (SDG)
Ecovadis is one of the most internationally recognized supplier-sustainability ratings company. The rating reflects a company’s sustainability performance and identifies actions for improvement. Using Ecovadis we can assess our performance, our sustainability management system, identify opportunities for improvement in relation to 4 different sustainability pillars (Environment, Ethics, Human rights and Sustainable Procurement) and improve transparency and sustainability practices.
Our companies have strategically decided to manage the relationship with its suppliers, in a way that considers social and environmental factors, a practice known as responsible sourcing or supply chain responsibility.
Evaluating our suppliers communicating and accepting our company’s SCoC (supplier code of conduct) and setting a prioritization process, are all critical steps of our sustainable sourcing strategy.
CDP is a global non-profit that runs the world’s environmental disclosure system for investors, companies, cities and governments to assess their impact and take urgent action to build a truly sustainable economy. Our companies have disclosed their carbon emissions performance to customers through CDP in climate change category. In 2023, both Corinth Pipeworks and Hellenic Cables (representing all cables segment companies) scored a B rating (Management Level) in CDP Climate Change, meaning that the company has addressed its business’s environmental impacts and ensures good environmental management.
Hellenic Cables, one of the largest cable producers in Europe, has committed to the SBTi. Hellenic Cables decarbonization targets were validated in 2022 and aligned with the global 1.5 oC trajectory. Hellenic Cables is following the most ambitious pathway of reducing its scope 1 and 2 emissions by at least 4.2% per annum and scope 3 by a minimum of 2.5% annually.
Hellenic Cables makes extensive use of copper as conductor material so it recognizes the copper industry’s contribution to sustainable development and green transition.
Hellenic Cables makes extensive use of copper as conductor material so it recognizes the copper industry’s contribution to sustainable development and green transition. Hellenic Cables has joined the Copper Mark Assurance Framework as Partners in 2022. The company is committed to adhering to internationally recognized responsible operating practices in copper production.
This participation will allow Hellenic Cables to better express its clear preference towards responsible practices in copper production, as part of their own due diligence approach to raw materials supply.
Cenergy, as a holding company, is committed through its subsidiaries’ activities to meet the needs of society by delivering products in a reliable, inclusive and sustainable manner, and in doing so, creating shared value for all stakeholders.
Cenergy Holdings recognizes the importance of clear and proper governance structures to fulfill its strategic goals. These structures are considered essential to translate the ambitions and goals into actions.
