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EN+ Group International PJSC

12/03/2021 | Press release | Distributed by Public on 12/03/2021 01:37

En+ Group becomes first Russian company with UN recognised Energy Compact

En+ Group (LSE: ENPL; MOEX: ENPL), the world's largest producer of low carbon aluminium, has received confirmation from UN Energy that its commitments to expanding clean energy generation and access have been officially recognised as an Energy Compact. The compact covers energy efficiency measures under its "New Energy" Modernisation programme, as well as its supply of International Renewable Energy Certificates (I-RECs) to customers around the world.

Energy Compacts were launched by UN Energy as voluntary commitments by countries, businesses, and cities to support SDG 7 by accelerating the transition to clean energy and improving energy access for billions of people. En+ Group is one of just 28 companies globally with a recognised compact and the first in Russia to make such a commitment.

Through modernisation, the company's "New Energy" programme is boosting the electricity generated by its hydropower plants using the same volume of water passing through the turbines. This expanded renewable capacity can be used to substitute coal-based power and is expected to cut carbon emissions by 26.6 Mt between 2007 and 2025.

Since December 2020, the company has also been a major issuer of I-RECs, which provide purchasers an opportunity to buy renewable energy even when they cannot source it directly from their local grid. Each certificate is verified to international standards and corresponds to a set amount of clean energy produced by En+. Over the last year, the company has issued more than a million certificates and predicts annual sales could reach between 2.5 and 3.5 million.

Lord Barker of Battle, Executive Chairman of En+ Group, said:

"En+ Group is proud to be recognised as a global leader on clean energy. Our Energy Compact holds us to some big commitments, and we are pushing ahead with clean actions to realise our vision for a low-carbon economy. We hope that our programme can serve as an inspiration to other businesses to step up and make the changes necessary to safeguard our planet for future generations."

Read more here: https://www.un.org/en/energycompacts/page/registry#En+Group