Green Commission guarantees sustainability at ALTEO

The Green Committee of the new generation energy supplier ALTEO has been established and meets quarterly. Its primary objective is to prepare and implement the company’s sustainability efforts. ALTEO’s sustainability strategy, which is inextricably linked to the UN Sustainable Development Goals (SDGs), is the guiding framework for this, ranging from clean energy to responsible consumption and production to urgent action against climate change.

Among the SDGs, clean energy is the category that is most tailor-made for ALTEO, which has long placed a strong emphasis on increasing the use of renewable energy sources, expanding its renewable portfolio and improving energy efficiency. Based on its sustainability strategy, the company will invest HUF 35 billion in sustainable energy solutions by 2026, contributing directly to the SDGs focusing on sustainable cities and communities. ALTEO’s R&D&I projects interlinked with green technologies and innovation are also linked to the latter, but also partly in the category of industry, innovation and infrastructure. ALTEO’s contribution to the UN’s goal of building resilient infrastructures, supporting inclusive and sustainable industrialisation and stimulating innovation is mainly focused on strengthening green transport infrastructure: 500 e-chargers are planned to be installed by 2023 and the share of the e-mobility business is expected to increase from 15 to 25 percent two years later.

The SDG on clean water and basic sanitation concerns ALTEO through water preparation, hydroelectric power plants, heating plants (district heating, hot water supply) and waste management, which is preparing for more sustainable water management by first carrying out a water-related risk analysis and a biodiversity assessment.

Closely linked to this is the objective of promoting sustainable consumption and production patterns, which mainly concerns ALTEO’s waste management activities and the implementation of the Green Office Programme, which aims to make its offices completely paperless ( considering the legal frames) by 2030 and to achieve a 50% recycling rate of operational waste. Finally, ALTEO aligns almost all of its actions with one of the SDGs, which calls for immediate action on climate change.

Their carbon footprint reduction targets are to reduce their direct Scope 1 emissions by at least 20%, their indirect Scope 2 emissions by 30% and their Scope 3 emissions by 55% by 2030. They are balancing the volatility of renewables with their natural gas-fired power plants, which will allow the electricity system to operate stably and integrate more renewables. Their Scope 1  minus 50%, Scope 2 minus 75% and Scope 3 minus 100% emission reduction targets for 2050 are also designed to achieve this, so that the EU net zero target is a realistic vision. At the same time, they also want to reduce NO_x  emissions by at least 25% by 2030 to reduce air pollution. Next year, the company will report its results using the guidelines of the TCFD voluntary reporting system, which focuses on climate-related financial risks, and plans to achieve the world’s most trusted business sustainability rating, EcoVadis, by 2024.

A Green Committee, comprising both senior management and expert members, has been established to coordinate this comprehensive work. This dedicated forum monitors and approves corporate policies and long-term objectives for sustainable development and ensures that the ESG approach and climate risks are kept on the agenda. It also ensures a consistent representation of sustainability in the ALTEO Group’s external relations.