EQS-News

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.