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    CEC   DE0007257503


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CECONOMY AG: Commitment for more sustainability: CECONOMY joins the 'Green Consumption Pledge Initiative' of the European Commission

06/10/2021 | 09:21am EDT

DGAP-News: CECONOMY AG / Key word(s): Sustainability
CECONOMY AG: Commitment for more sustainability: CECONOMY joins the 'Green Consumption Pledge Initiative' of the European Commission

10.06.2021 / 15:20
The issuer is solely responsible for the content of this announcement.

Commitment for more sustainability: CECONOMY joins the "Green Consumption Pledge Initiative" of the European Commission

  • The parent company of MediaMarkt and Saturn is one of the first European retail companies to join the voluntary initiative launched as part of the European Climate Pact
  • CECONOMY makes a binding commitment to a better carbon footprint and to a wider range of sustainable products
  • Progress towards achieving goals will be communicated transparently - also to consumers

Düsseldorf, 10 June 2021 - CECONOMY AG ("CECONOMY"), the parent company of MediaMarkt and Saturn, has joined the "Green Consumption Pledge Initiative" of the European Commission. In doing so, the company commits itself to concrete sustainability targets and transparent communication about the progress made on each topic. CECONOMY is one of the first European retail companies to join the voluntary initiative launched as part of the European Climate Pact.

CECONOMY is committed to improving its carbon footprint and promoting sustainable business practices, and has set measurable goals in this regard:

  • CECONOMY aims to increase the annual sourcing of electricity from renewable energies to 100 % by the end of 2023. By comparison, this figure was around 80 % in 2020.
  • In addition, CECONOMY is aiming for climate neutrality for so-called "Scope 1 emissions" and "Scope 2 emissions" (this refers to direct and indirect greenhouse gas emissions of a company) by the end of 2023 on the calculation basis of net zero carbon emissions.
  • CECONOMY aims to reduce the net CO2 intensity[1] of its so-called "Scope 3 emissions" by 30 % by the end of 2033 compared to the base year 2019[2].Relevant Scope 3 categories are purchased goods and services (indirect spent, private label products) as well as transportation and distribution.
  • The number of sustainably labelled products in the company's own assortment is also to be continuously increased. By the end of 2023, the company wants to double this number.

Consumers can follow the status of the respective objectives: CECONOMY will publish the progress made under this initiative annually on its own website, among other places.

"With our participation in the "Green Consumption Pledge Initiative" of the European Commission, we underline the claim of our sustainability strategy. We stand by our sustainability commitments and we will measure our progress on an ongoing basis," says Dr Bernhard Düttmann, CEO of CECONOMY. "At the same time, as Europe's largest retail company for consumer electronics, we want to be a role model for the entire industry with our participation, and shape and form responsible and sustainable business practices."

Launched in early 2021, the Green Consumption Pledge Initiative is part of the European Climate Pact, a far-reaching package of measures to transform the European continent into a climate-neutral continent by 2050. The purpose of the Green Consumption Pledge Initiative is to motivate companies to participate in climate protection measures. The pledge asks signatories to adhere to at least three of five core principles dealing with CO2 emissions, transparency, industry best practices and the distribution of sustainable products. The initiative is currently in the pilot phase. CECONOMY is one of six companies that recently joined this initiative.

Didier Reynders, European Commissioner for Justice: "I welcome the commitments made by those six companies for concrete actions towards greater sustainable production and consumption, beyond what is required by EU law. This determination to step up climate action shows the kind of effort European consumers want to see. By now eleven companies are already participating in the Green Pledge and I am looking forward to even more in the future!"

Further information
For information on CECONOMY's goals under the Green Consumption Pledge Initiative, click here: https://www.ceconomy.de/en/sustainability/eu-green-consumption-pledge/
General information on the "Green Consumption Pledge Initiative" of the European Commission can be found here: https://ec.europa.eu/info/policies/consumers/consumer-protection/green-consumption-pledge-initiative_en

CECONOMY AG empowers life in the digital world. It is leading for concepts and brands in the field of consumer electronics. The companies in the current CECONOMY portfolio have billions of consumer contacts per year and provide products, services and solutions that make life in the digital world easy and enjoyable, creating value for consumers and shareholders alike.



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40221 Düsseldorf

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Communications, Public Policy & Sustainability

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[1] Net CO2 emissions in relation to total turnover.
[2] Baseline for private label products is year 2021.

10.06.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Kaistr. 3
40221 Düsseldorf
Phone: +49 (0)211 5408-7225
Fax: +49 (0)211 5408-7005
E-mail: stephanie.ritschel@ceconomy.de
Internet: www.ceconomy.de
ISIN: DE0007257503, DE0007257537, Weitere: www.ceconomy.de/de/investor-relations/
WKN: 725750, 725753, Weitere: www.ceconomy.de/de/investor-relations/
Indices: SDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1206724

End of News DGAP News Service

1206724  10.06.2021 


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