Ignitis Group joins the fight against climate change – CO2 emissions will be zero

The international energy company Ignitis Group is the first in the Baltic States and Poland to join the Initiative of the United Nations and other international organizations “Business Ambition for 1.5°C“. The company is committed to reducing net carbon dioxide (CO2) emissions to zero by 2050.

By joining this ambitious initiative, Ignitis Group commits to review its strategy and provide therein the commitment to become a CO2 neutral company by 2050. The company will set for itself interim measurable and science-based targets how decarbonisation will be gradually pursued in all activities of the Group.

This way Ignitis Group will contribute to the target of Paris Agreement on Climate Change to ensure that compared to the period before the Industrial Revolution the average temperature of the planet would rise by no more than 1.5 degrees.

“Ignitis Group understands that decarbonisation is one word to best describe future energy. States and enterprises will compete with each other for the most reliable and best decarbonised power generation technologies, and the users may on the whole refuse from goods that will have carbon footprint. This is why we already now strive to become leaders in decarbonised technologies and export them to other countries“, - says Darius Maikštėnas, the Chairman of the Board and the CEO of Ignitis Group.

Ignitis Group has signed the commitment in December. Currently, 177 companies from all over the world have contributed to this initiative. Among them are such energy giants as Italian company Enel, Danish company Orsted, as well as world-renowned brands IKEA, Electrolux, L'Oreal and others.

Ignitis Group joined the initiative on 2 through 13 December in Madrid, during the United Nations Climate Change Conference which talks about what steps need to be taken to stop global warming to 1.5 degrees.

Ignitis Group has already set ambitious targets in the field of renewable energy in its 2030 strategy, thus contributing to mitigation of climate change and reducing CO2 emissions. By 2030, green production capacity of Ignitis Group will reach 3,000 MW. Through its Innovation Fund, the Group also invests in start-ups all over the world that develop the latest technologies in order to promote businesses that will contribute to climate change targets and decarbonisation.

In 2016, Ignitis Group has signed the UN Global Compact whereby it committed to implement its activities in accordance with 10 principles of the Compact. These principles have become part of everyday work and culture.

For more information about “Business Ambition for 1.5°C“  initiative visit: https://www.unglobalcompact.org/take-action/events/climate-action-summit-2019/business-ambition