We will more consistently benchmark our future decisions and investments against sustainability criteria and align our growth accordingly. EnBW is thus taking a clear stance, even though we have been aligned towards sustainability since we began remodelling the company in 2013, for example through our investment in renewable energies and electricity grids. Now is the right time to explicitly adopt a holistic concept.
Globally, there is intense discussion of the urgent need to cut greenhouse gas emissions. In Germany, too, climate neutrality is at the top of the agenda.
In 2013, EnBW began realigning its corporate strategy increasingly towards sustainability and substantially restructuring its portfolio. The updated sustainability strategy includes the gradual exit from coal-fired generation as the next logical step. The goal is for the entire company to become completely climate-neutral by no later than 2035, an ambitious target even by industry standards. However, the first EnBW companies, such as Energiedienst, are already climate-neutral and Netze BW will become one of Germany’s first climate-neutral distribution grid operators at the start of 2021. In this way, EnBW is seeking to halve its CO2 emissions by 2030.
There is an increasingly close alliance between economy and sustainability. In recent years, we have invested heavily in the expansion of renewable energies and electricity grids. The next phase of our transformation is the EnBW 2025 strategy, which will make our company a sustainable infrastructure partner beyond the energy sector through further expansion of our established businesses – renewable energies, grids, electromobility and broadband telecommunications – and the establishment of new businesses. Overall, the company is targeting substantial earnings growth of more than 30 percent by 2025.
In the years ahead, EnBW will be investing around €12 billion. Based on their contribution to Group earnings (adjusted EBITDA), renewable energies and grids now account for around 74 percent.
The third dimension of the EnBW sustainability strategy is our commitment to society, our customers and our employees. This encompasses support for sports, education, youth development and climate protection. And during the coronavirus pandemic, we have made a donation to food banks in Baden-Württemberg (further information on our German-language website at www.enbw.com/engagement).
EnBW is responsible for more than 24,000 employees – its own and those of its subsidiaries. The company’s sense of responsibility is demonstrated in, for example, its high standards of occupational safety, especially in its power plants and grid operations.
We are confronting the challenges associated with the EnBW 2025 strategy with a human resources strategy that focuses on people.