ESAP - Environmental and Social Action Plan
PPC, in cooperation with the European Bank for Reconstruction and Development (EBRD), has undertaken to implement an Environmental and Social Action Plan (ESAP), which includes a series of measures, policies and practices relating to the company's environmental, social/labour and corporate governance.
In March 2021, PPC proceeded with the first sustainability-linked high-yield bond issuance in Europe with a sustainability clause, committing to reduce direct CO2 emissions by 40% by December 2022 (taking 2019 as the base year), and bond maturity in 2026. This commitment was a natural choice for PPC as it is directly linked to its overall sustainable development strategy, which is a key driver for its transformation into an economically & environmentally sustainable, modern digital energy company. The bond issue was accompanied by the Sustainability-Linked Bond Framework, which was prepared on the basis of the International Capital Market Association's Sustainability-Linked Bond Principles 2020 and detailed the following key principles:
The Sustainability Bond Framework was reviewed by Sustainalytics for alignment with the International Capital Market Association's 2020 Sustainability-Linked Bond Principles, through the publication of a Second-Party Opinion accompanying the issuance.
Subsequently, PPC proceeded with a second sustainability bond issue in July 2021, with a commitment to reduce direct CO2 emissions by 57% by December 2023 (taking 2019 as the base year) and bond maturity in 2028.
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