PWO further accelerates the decarbonization of the Group
EQS-News: PWO AG / Key word(s): Sustainability/ESG
PWO further accelerates the decarbonization of the Group
28.03.2024 / 15:51 CET/CEST
The issuer is solely responsible for the content of this announcement.Press Release
*PWO further accelerates the decarbonization of the Group*
Carlo Lazzarini (CEO): "Climate protection is right at the top of PWO's agenda. We will now only use green electricity at our Mexican sites starting from 2024. We have set our course for the future: Within just a few years, we will have converted the Group almost entirely to green electricity".
*Oberkirch**, March 28, 2024* - The PWO Group is currently commissioning a photovoltaic system with an annual output of around 820,000 kWh at its San Cristobal site in Mexico. This output volume ensures a favorable internal consumption of the green electricity generated while taking account of production fluctuations during the course of the year. In addition, we will use other instruments recognized by the Science Based Targets initiative (SBTi) – such as green electricity certificates based on the I-REC standard – to convert our 2 sites in Mexico entirely to green electricity as early as 2024.
*The PWO Group’s ambitious climate protection targets*
We are already implementing the Paris Climate Agreement with our current SBTi-validated targets. In Scope 1 and 2 greenhouse gas (GHG) emissions are planned to be reduced by 46.2% in absolute terms by 2030 compared to the base year 2019. By the end of 2023, we had already exceeded this target and reduced GHG emissions by 51.0 %. We aim to reduce Scope 3 GHG emissions by 28.0% by 2030.
With the switch to green electricity in Mexico for 2024 and the switch in China for 2026 that was previously communicated, we will continue to significantly shrink our CO2 footprint.
*Our fast-growing locations in Mexico *
Our 2 Mexican locations are among the growth drivers of the PWO Group. With revenue of EUR 113.3 million, they increased their share of consolidated revenue to a good 20% in 2023.This trend is set to continue. Thanks to their high performance in the development and production of innovative product solutions in climate-friendly lightweight construction at the frontiers of what is technologically feasible, our Mexican locations have succeeded in considerably expanding their new business recently. These new series will gradually go into production over the next few years and contribute significantly to the growth of the entire PWO Group.
PWO AG
The Executive Board
* *
*Contact:*
Charlotte Frenzel
Investor Relations & Corporate Communications
T. +49 179 6904 237
M. charlotte.frenzel.ext.ma@pwo-group.com
*PWO Group: Pushing boundaries in lightweight metal solutions*
2,000 PRODUCT SOLUTIONS | 3,000 EMPLOYEES | 9 LOCATIONS | OVER 100 YEARS OF EXPERIENCE
We are a global company in the mobility industry that is helping to shape the environmentally friendly mobility of the future through innovations and is entirely independent of combustion engines.
With our expertise in climate-friendly lightweight construction, we are technology leaders and combine economic efficiency with sustainability. We develop and produce sophisticated metal components and complex subsystems at the frontiers of what is technologically feasible. We meet the challenges of our time with innovative and sustainable concepts. Above all, we want to seize the opportunities it offers.
As a values-based employer with informal structures at a global level, we thus offer our employees a meaningful environment for realizing their personal prospects. Transparent and responsible corporate governance is an integral part of our self-image.
Our corporate strategy is summed up by the slogan PEOPLE. PLANET. PROGRESS.
--------------------
28.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com --------------------
Language: English
Company: PWO AG
Industriestraße 8
77704 Oberkirch
Germany
Phone: +49 (0)7802 84-844
Fax: +49 (0)7802 84-789
E-mail: ir@pwo-group.com
Internet: www.pwo-group.com
ISIN: DE0006968001
WKN: 696800
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange
EQS News ID: 1870177
End of News EQS News Service