Our Contribution to the Society

Our initiatives across the portfolio

Sustainability Strategy runs across our actions, embodying the principles of Sustainable Development and the ESG framework throughout our portfolio, reflecting in practice on the business model and sustainable operations of all subsidiaries.

For our subsidiaries, the ESG strategy is a fundamental element of transformation. Growthfund has a distinct integrated ESG & Sustainability plan for each on of its portfolio companies, creating an ecosystem that contributes to the achievement of the goals set by the National Climate Law and the Paris Agreement.

Scope 1 and Scope 2 Emissions Measurement

Growthfund and its subsidiaries have proceeded with the measurement of Scope 1 and Scope 2 carbon emissions with the aim of creating a transition plan towards low-emission operations.

CSRD Gap Analysis

Growthfund and its subsidiaries and holdings conducted a CSRD Gap Analysis in order to prepare the entire ecosystem for the implementation of this European directive. The CSRD directive will bring about significant changes in corporate reporting with extensive implications for all businesses, as well as the future of climate sustainability reporting, both in Europe and globally.

IOBE Measurement of Socio-economic and Environmental Impacts:

IOBE conducts a nationwide study on the social and environmental impact of Growthfund and its subsidiaries and holdings on the national economy (GDP impact), employment, and the environment.

Employee Engagement Survey

In collaboration with the management teams of its subsidiaries, Growthfund conducted an employee satisfaction survey for the first time in partnership with the Great Place to Work company. The aim was to identify areas where internal culture and work environment can be improved.

Customer Satisfaction Surveys

In collaboration with the management teams of its subsidiaries, Growthfund enhanced the customer satisfaction surveys conducted for both B2C and B2B customers, with the goal of creating an action/ services plan that will improve the daily lives of citizens and customers.

We set ESG criteria in the utilization of public assets and align the investment plans of our subsidiaries with green transition principles.

Case studies

Specific examples from our portfolio showcase practices and initiatives that have a positive impact on society, the environment, and the economy.

Transport for Athens (OASA Group of Companies)

Sustainability is a key strategic priority for Growthfund’s subsidiaries. With the aim of becoming an ESG role-model, Growthfund has initiated a specific green transition plan, its the first pilot program running in Trasport for Athens (OASA Group).

The company, which is responsible for the public means pf transport in the city of Athens, has completed the measurement of carbon emissions at a group level and is preparing its roadmap for alignment with the European Green Deal regarding the upgrade of its fleet.

At the same time, Transport for Athens is going to leverage technologies such as Artificial Intelligence (AI) and Machine Learning to design, develop, and operate an integrated preventive maintenance system on buses and trolleybuses. With an average of over 220 kilometers per vehicle per day, carbon emissions will be significantly reduced.

Considering that every citizen who consistently uses public transport saves the equivalent of ten trees per year, resulting in a reduction of 220 kg of CO2 emissions, OASA is planning an extensive awareness campaign to educate and inform citizens about the positive impact of choosing public transportation for their travels.

Priority is given to the transition to electric mobility. Pilot evaluations of electric buses are already underway, along with a transitional operational plan, infrastructure enhancements, and workforce preparation. Additionally, charging stations for electric vehicles are being installed in parking areas and STASY depots.

Another priority for Transport for Athens is an integrated bus fuel management system, which involves replacing liquid fuel tanks, volume calibration, and electronic control systems. This system will contribute to improving the environmental footprint of the Athens Urban Transport Network.

Central Markets and Fishery Organizations – CMFO SA

The Central Markets and Fishery Organizations (OKAA S.A.) has set ambitious sustainability goals for the period 2022-2024. Currently hosting over 400 food businesses, OKAA follows a comprehensive Waste Management Policy with a focus on the Circular Economy. Among other initiatives, it aims to increase the amount of food waste directed to composting: 70% of the 9,000 tons of waste will be composted by 2022, rising to 80% by 2024.

At the same time, the BIOVALORIZATION program is underway, aiming to utilize fishery by-products and produce quality biomaterials. The project aims to collect 23,700 tons of fishery by-products and features innovative projects such as collagen production from fish and other organic residues, as well as the use of plant waste for fish feed production.

OKAA promotes the adoption of the European Green Deal to reduce carbon emissions by 2030. Within the 2023-2024 period, it seeks to install photovoltaic systems (OKAA building) to improve its environmental footprint. By 2024, priority is given to the gradual replacement of cleaning and maintenance machinery and vehicles with electric alternatives.

Responsible disposal of organic materials is also a priority for OKAA. By 2024, the company aims to use brown bins for collecting organic waste and freezing bins for organic waste from the fisheries under its jurisdiction.

Last but not least, OKAA unites its efforts to combat poverty through initiatives such as “Social Dining.” It provides fish, fruits, vegetables, and meat to socially vulnerable groups in need. In 2021 alone, 134,125 kilograms of food were distributed. Additionally, as part of the “Social Plate” initiative, 252,650 kilograms of food are offered to the Smile of the Child organization.

Central Market of Thessaloniki – CMT SA

Contributing to the environment and society is an ongoing goal embraced by the Central Market of Thessaloniki (KATH SA) through various initiatives.

Environmental sustainability is a top priority for KATH. Composting and recycling materials are at the forefront of the company’s efforts. The company aims to recover approximately 75% of organic materials for composting. In 2020 alone, 119 tons of food were composted.

Focusing on reducing greenhouse gas emissions, KATH prioritizes the replacement of central offices with a new, environmentally friendly building designed to meet bio-climatic specifications.

Furthermore, ongoing interventions are being made to improve the operation of refrigeration equipment in the Meat Market. Simultaneously, the company promotes responsible water consumption and has already achieved a remarkable 90% water savings.

When it comes to their social impact, KATH aims to reduce food waste, poverty, and social exclusion. By 2024-2025, they strive to double the amount of food provided through the “Social Plate” initiative.

Funding for this goal has been secured and includes the collection, sorting, and distribution of fruits and vegetables donated by KATH traders to vulnerable social groups. Under the “Social Plate” initiative, from 2018 to July 2022, KATH has gathered 961 tons of fruits and vegetables from market traders. Out of these, 679 tons have been recovered and distributed to individuals in need.

Recognized as one of the top four programs for best practices in Circular Economy in Greece, among a selection of 100 others, this initiative has earned distinction under the LIFE-IP CEI-GREECE project.