CDP, a global non-profit that runs the world’s only independent environmental disclosure system, upgraded the Public Power Corporation (PPC) of Greece in its climate change rating from the global non-profit environmental organization CDP, moving from a “B–” to a “B” in 2024.
PPC is in the process of fully phasing out the use of lignite by 2026 and substantially reducing oil-based electricity production.
These efforts are aimed at cutting the company’s direct carbon dioxide (CO₂) emissions by 80% by 2027, compared to 2019 levels.
According to CDP, the most recent upgrade was also driven by PPC’s publication of scientifically validated greenhouse gas emission reduction targets, approved by the Science Based Targets initiative (SBTi). In addition, PPC has made notable progress in how it assesses and manages climate-related risks and opportunities, and in its execution of measures to mitigate environmental impact. The company has also established strong governance mechanisms for overseeing and reporting these actions.
CDP is considered a global benchmark for environmental transparency and performance. In 2024, the organization evaluated over 24,000 companies, organizations, countries, regions, and cities worldwide.
The organization works with stakeholders who disclose their environmental actions and goals, including emission reduction strategies, climate risk management, and sustainability improvements.
Achilleas Ioakeimidis, Chief Sustainability Officer of PPC, commented, “Guided by our commitment to enhance our contribution to combating climate change, we are undertaking actions and structural changes that are vital for improving our performance and meeting stakeholder expectations. The CDP upgrade reflects the energy transformation underway at PPC, which is aimed, among other things, at achieving climate neutrality by 2040.”
