EPIF issues its 2023 Sustainability Report

3. 6. 2024

EP Infrastructure (“EPIF”) is pleased to announce that it is issuing its sixth Sustainability Report, providing the latest information on its performance in environmental, social, and governance areas.

Throughout 2023, EPIF continued to play a crucial role in providing secure and affordable energy supplies. While EPIF remains committed to these essential functions, it recognizes the need to achieve them without greenhouse gas emissions. EPIF has a transition plan to align all its assets with a carbon-free energy system and made significant strides toward this goal in 2023.

In May 2023, EPIF formalized its decarbonization efforts by announcing a set of emission reduction targets. EPIF aims to reduce CO₂ emissions by 60% between 2022 and 2030, reduce methane emissions in line with the Global Methane Pledge by 2030, reach carbon neutrality by 2040 and net zero operations by 2050.

In August 2023, EPIF issued its inaugural Green Finance Framework to link future financing to execution of its transition plan. The framework received second party opinions from Shades of Green, now a part of S&P Global which assigned a Light Green shading to the framework and Sustainable Fitch which assigned a score of “Good” to the framework. Both SPO providers consider the framework as aligned with the ICMA Green Bond Principles. In March 2024, EPIF used the framework to issue its first green instruments, green Schuldschein loans.

EPIF’s efforts in the ESG area were reflected in a strong ESG risk rating of 19.8 received in October 2023 from Morningstar Sustainalytics. This result confirms EPIF’s position in the low-risk category. EPIF secured 12th position out of over 104 companies from the multi-utilities sector.

Gary Mazzotti, EPIF’s Chief Executive Officer, concluded: “Transparent disclosure and genuine communication with all stakeholders are essential. The energy transition is complex and cannot be achieved overnight. We are committed to a responsible and socially just decarbonization process, providing clear and transparent reasoning for our solutions. I want to express my gratitude to everyone who is part of this journey.”

EPIF 2023 Sustainability report is available here