Growth Fund implements a number of corporate initiatives to better manage its environmental footprint.
Moreover, Growth Fund affects, through the operation of its subsidiaries and shareholding participations, all aspects of citizens’ daily lives (urban transport, transportation, ports, post offices, food markets, etc.), and has placed environmental and climate sustainability at the core of its strategy, as a model company for a sustainable future. To this end, it requests from its subsidiaries to become certified for the Environmental Management systems they implement with the corresponding quality certification (ISO 14001).
Greece, along with planet Earth as whole, experiences climate change consequences such as increased temperatures, wildfires and rising water levels, which require comprehensive treatment strategies.
Growth Fund has committed to a mega KPI target of reducing by 15% (2022-2024) the carbon emissions resulting from its portfolio of subsidiaries and shareholding participations.
Supporting the national and European efforts, Growth Fund’s Sustainability Strategy has been specifically designed to contribute to the achievement of the goals set in the Paris Agreement and the Greek National Climate Law.
We lead the effort for zero pollution and commit to align with the European targets for reducing emissions by 55% by 2030 and achieving 100% reduction by 2050.
A core pillar of our Strategic Plan, announced in June 2022, and one of Growth Fund’s “Mega Key Performance Indicators” for 2024 is a 15% reduction in carbon emissions.
Growth Fund has identified Climate Change as one of the critical global challenges, which although exogenous are expected to greatly affect economic activity and must be addressed by companies with responsibility and a long-term perspective.
In this context, Growth Fund announces and publishes its expectations for the response of its portfolio companies to the issues of dealing with Climate Change.
The assessment and quantification of the financial risks and opportunities associated with climate change is for Growth Fund a particularly important process, in the context of making its short-term and medium-long-term investment decisions.
In this context, Growth Fund is a supporter of the TCFD initiative “Task Force on Climate related Financial Disclosures” (TCFD) which aims to help the investment community identify the information needed to assess and cost risks, but also of the opportunities linked to climate change.
With enhanced environmental consciousness and a priority for sustainable development based on ESG criteria (Environment, Society, Governance), Growth Fund approaches the planet’s rapid changes responsibly and commits to contributing to the efforts of reversing climate change and accelerating the transition to a low-carbon sustainable economy.
As an active member of the One Planet Sovereign Wealth Funds (OPSWF) Global Network since April 2021, Growth Fund has aligned its policies with leading Sovereign Wealth Funds and other global institutional bodies, totaling 43 in number, having also adopted the Principles of the European Green Deal and the 17 Sustainable Development Goals of the United Nations. This is an initiative by French President Emmanuel Macron, is based on the central idea that by prioritizing the environment in their investments, Sovereign Wealth Funds, can positively influence and drive the entire economy towards sustainability.
In the OPSWF’s Framework Companion Document 2021, which includes the guiding policies and priorities of this international network, Growth Fund’s initiatives are presented as case studies of sustainability and implementation of ESG strategies. Despite joining the One Planet Sovereign Wealth Funds so recently, Growth Fund has distinguished itself through its actions and those of its subsidiaries in initiatives towards sustainable development, which constitutes one of its core sustainability pillars.