GR

Our Contribution to the Environment

Environmental Management

Growthfund implements a number of corporate initiatives to better manage its environmental footprint.

  • Waste Management Program – Collaboration with a certified waste collection and management company for the responsible sorting of waste generated at Growthfund’s office premises. The sorting is done by flow, (plastic, paper, glass, aluminum) and the quantities are weighed and recorded. At the same time, the staff at Growthfund’s offices has received training for better cooperation and awareness in their daily lives.
  • Company car policy in place, promoting the leasing of only hybrid, electric or plug-in vehicles, while conventional cars in the company fleet will be phased out at the end of their leases.
  • Energy improvements in office facilities (e.g. by replacing heat lamps with LEDs)
  • Carbon footprint measurements every year and relevant disclosure in the annual sustainability report

Moreover, Growthfund 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).

Growthfund fights climate change consequences

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.

Supporting the national and European efforts, Growthfund’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 Growthfund’s “Mega Key Performance Indicators” for 2024 is a 15% reduction in carbon emissions.

Growthfund 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, Growthfund 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 Growthfund a particularly important process, in the context of making its short-term and medium-long-term investment decisions.

In this context, Growthfund 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.

Active member of the One Planet for Sovereign Wealth Funds (OPSWF) Network

With enhanced environmental consciousness and a priority for sustainable development based on ESG criteria (Environment, Society, Governance), Growthfund 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, Growthfund 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, Growthfund’s initiatives are presented as case studies of sustainability and implementation of ESG strategies. Despite joining the One Planet Sovereign Wealth Funds so recently, Growthfund has distinguished itself through its actions and those of its subsidiaries in initiatives towards sustainable development, which constitutes one of its core sustainability pillars.

The OPSWF Framework Companion Documents