Prysmian has launched an initiative to set science-based carbon reduction targets to achieve net zero in its operations.
The offshore wind cables manufacturer said it will consider both scope 1 and 2 (own organisation) and scope 3 (value chain) greenhouse gas emissions.
Carbon targets are considered “science-based” if they are in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement, to limit global warming to 1.5°C.
Prysmian is supported by the Carbon Trust to help it achieve its net zero ambition.
Prysmian CEO 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 organisation and on the development of cable and optical fibre technologies for electrical and telecommunications networks, suitable to support the transition towards the use of renewable energy sources and towards a decarbonized economy.”
By 2022, Prysmian has planned to invest around €450m to further improve the sustainability of its organisation and supply chain and to “accelerate the development” of advanced cable technologies as well as assets and services.
Prysmian stated it is committed to support 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.