Public Power Corporation (PPC) has received another upgrade from the global environmental nonprofit CDP regarding its performance on climate change. The company’s climate score was raised by one level from “B-” to “B” in 2024, following a four-level improvement in 2023—from “D-” to “B-“.

This latest upgrade reflects PPC Group’s progress in implementing its strategic plan aimed at reducing direct CO₂ emissions and achieving climate neutrality by 2040. Key milestones include complete lignite phase-out by 2026 and a significant reduction in power generation from oil-fired plants, targeting an 80% cut in direct CO₂ emissions by 2027 compared to 2019 levels.

The improved score is also attributed to PPC’s disclosure of science-based emission reduction targets approved by the Science Based Targets initiative (SBTi), improved practices in risk and opportunity assessment and management, implementation of actions mitigating climate and environmental impact, and the mechanisms established for monitoring and reporting progress.

CDP is recognized as a global benchmark for environmental transparency. In 2024, it evaluated over 24,000 companies, organizations, states, regions, and cities worldwide. Since its founding in 2000, CDP has focused on building a sustainable economy by assessing climate, forest, and water security data disclosed by entities across the globe. It works with businesses and governments that voluntarily disclose actions and goals related to greenhouse gas (GHG) reduction, climate risk management, environmental impact, and sustainability practices.

Statement from PPC Group’s Chief Sustainability Officer, Achilleas Ioakeimidis:

“Guided by our ongoing commitment to address climate change, we are taking actions and structural steps essential for both improving our performance and meeting the expectations of our stakeholders. The CDP upgrade also reflects the energy transition underway at PPC, aimed at achieving climate neutrality by 2040.”

Green Investments at the Core of Strategy

Despite global challenges over the past five years, PPC Group—Southeast Europe’s leading energy company—is undergoing a continuous transformation to become a modern, economically and environmentally sustainable enterprise. At the same time, it is laying a solid foundation for further growth in Greece and the broader Southeast European region, helping shape the energy and digital future while acting as a responsible social partner in all markets where it operates.

By 2027, PPC Group plans to invest over €10 billion, primarily in green energy, network modernization, and technological innovation. The goal is to raise installed renewable energy capacity to 11.8 GW, including 5.6 GW of new RES projects in Greece and across Southeast Europe.

PPC’s overarching aim is to create shared value for the economy and improve its positive social impact, taking into account all stakeholders—customers, shareholders, employees, suppliers, and society at large—while contributing to the achievement of the United Nations Sustainable Development Goals (SDGs) where it can make the most significant impact.