Sustainability
Our strategy
Our ESG Roadmap 2023 is our strategic plan to promote the sustainability of the company in five areas. It is built upon the results of an internal diagnostic exercise and a materiality analysis carried out by the company in 2020 (update during 2023)
Our Sustainability Policy, approved by the Board of Directors, is fully aligned with the ESG Roadmap and with the action plans defined for each of the strategic areas.
We are currently working on updating the ESG Roadmap 2024-2026 to comply with current and future ESG regulations, improve our positioning and position ourselves at the forefront of the sector, and respond to stakeholder expectations.
We are leaders in ESG Risk Management
We are a Top ESG Rated 2023 out of more than 15d.000 companies covered by Sustainalytics global universe, a distinction awarded to strong outperformers in their respective industries.
We received the highest rating AAA at the MSCI ESG assessment and ISS ESG recognised Grenergy as a Prime company for exceeding sector-specific ESG performance requirements.
Improved positioning in CDP Climate Change with a score of A-, two scales higher than the score received in the previous year B-.
Sustainability report 2022
100%
executives receiving variable compensation linked to ESG goals
245,225
tCO2e avoided emissions
27.5%
Increase in number of employees, a double-digit growth for the third year in a row
50%
of the members of the Board are women
2,575
local attendees at meetings
€150M
Second green bond programme
(*) Indicators coverage at the report include all business operations
Sustainable Development
Goals
This is the decade of action and the shared ability to achieve the extraordinary. We integrate the Sustainable Development Goals of the United Nations into our sustainability strategy, with emphasis on selected priority goals where our contribution can be most significant.
SDG 5
Gender Equality
Our contribution in 2022
Achieve gender equality and empower all women and girls..
- 50% of the members of the Board of Directors are women.
- 39% women in senior management positions.
- 39% women in Engineering positions (STEAM).
- Listing on the IBEX Gender Equality Index.
- Signature of an Agreement with Castilla La Mancha’s Institute for Women’s Affairs.
- 4 women’s centres collaborate in the Escuderos project and 7 in the Belinchón project.
- Progress on the equality roadmap.
- Increasing the presence of women in the company over 30% by 2025 (with a focus on pre- and senior management positions each year).
SDG 7
Affordable and clean energy
Our contribution in 2022
Ensure access to affordable, reliable, sustainable and modern energy for all.
- 134.858 € invested in and donated to the local community.
- Our plants are reliable and have their own staff to guarantee their operation 365 days/year.
- 1.6 GW of renewable energy projects under construction and in operation.
- 2025 target: 5GW of solar PV and 1 GWh of storage, in operation or under construction.
- Issuance of the second green bond programme7 on BME’ Bond Market.
- 68% of total renewable generation from solar (505.5GWh) and 32% from wind (238.9 GWh) reaching a total renewable energy generation in 2022 of 744.4GWh.
- Carbon intensity of direct emissions (Scope 1 and 2): 1.07 tCO2/GWh generated (28% lower vs. 2021) and 2.71 tCO2/M€ sales (18% lower vs. 2021).
- Renewable energy consumption 637.6 MWh (21%) and non-renewable energy consumption 2,468 MWh (79%).
SDG 8
Decent work and economic growth
Our contribution in 2022
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
- Great Place to Work Certification obtained for the second consecutive year.
- Employment generation for 2,200 workers in construction and operation of our projects.
- 13,354 hours of health and safety training for subcontractors' employees.
- 4 accidents among employees, none serious.
- 0 absences due to occupational illness, fatalities, and serious accidents.
- More than 13,350 hours of health and safety training for subcontractors' employees.
- Support to the local community of Quillagua (Chile) to promote local tourism and protect cultural heritage by financing a tourist-archeological circuit.
- 127 strategic suppliers corresponding to 85% of Grenergy's total turnover (2640 suppliers in 2022) are monitored and evaluated at ESG level through Aquilles platform.
- Revenues from solar energy generation 269.5M€ and from wind energy 23.5M€ reaching total revenues in 2022 of 293M€.
- Installed capacity solar 652MW (91.5%) and wind 60MW (8.5%) reaching a total installed capacity in 2022 of 712MW.
SDG 13
Climate Action
Our contribution in 2022
Take urgent action to combat climate change and its impacts.
- Carbon footprint measured and verified by an independent third party according to ISO14064 standard.
- 55% absolute target set for emissions reduction by 2030 (Scope 1 and 2) and Net Zero in 2050.
- 245,398 tCO2 emissions to the atmosphere avoided by our service.
- Preliminary identification of climate change risks and opportunities.
- College scholarship for renewable energy degrees awarded to local member of community in Kosten.
- Educational and environmental awareness-raising activities involving more than 1,000 kids and youth organised.
SDG 15
Life on land
Our contribution in 2022
Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss.
- Collaboration in a wetlands restoration project in collaboration with WWF Spain.
- 0 fines for environmental non-compliance.
- €894,110 of environmental investment.
- Reforestation of 255 ha globally.
- Several projects to improve habitats and protect vulnerable species (rescue and relocation of fauna, compensation plan and promotion of biodiversity, among others).
Corporate Governance
Grenergy Sustainability Committee ensures the implementation of the
ESG Roadmap 2023 and periodically reports on its progress to the Board level Committees.
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50%
women in the Board of Directors
-
50%
independent directors in the Board
-
100%
management with variable compensation linked to ESG targets
Governance
Learn about governance bodies, Executive Committee, Board level Committees and Board of Directors.
Learn moreEnvironment
Sustainability permeates all our decisions with a primary focus is on environmental protection, promoting the biodiversity and helping to fight climate change.
Climate change
Beyond the generation of clean energy through our renewable projects
We protect the biodiversity
We work to protect the biodiversity in the area of our projects and beyond, through various conservation initiatives.
Social development
Taking care of the people who make up our team and creating a positive local impact in the communities close to our projects as well as in the supply chains are priority aspects of our Sustainability Policy.
Communities
We make of each project a shared success with our local communities.
Our team
The people who work at Grenergy think it is a great place to work.
Human Rights
Our commitment to respecting the dignity and rights of individuals is reflected in our due diligence system.