EDP Energias de Portugal S A : signs agreement to accelerate sustainability goals established by the United Nations and Paris Agreement

EDP signs agreement to accelerate sustainability goals established by the United Nations and Paris Agreement

Monday31, May 2021

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Innovation

Renewable energy

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EDP is one of the leading technology companies that joined the Digital with Purpose movement and signed an agreement today, in Lisbon, with an appeal to governments and policy makers.

EDP takes another step towards fulfilling its ambition to be totally green by 2030 and adheres to the Digital with Purpose Movement. With this initiative, EDP joins a group of more than 40 leading global companies in innovation and technology that, through a joint agreement signed this Monday, May 31st, in Lisbon, calls on governments and policy makers to that accelerate the fulfillment of the sustainability objectives established by the United Nations and the Paris Agreement, by 2030.

This movement promoted by GeSI (Global Enabling Sustainability Initiative), in partnership with governments, associations, NGOs and several international organizations, is made up of more than 40 leading technology companies such as NOS, SIBS, Unipartner, Deloitte and Huawei, and has as its main objective to promote the progress of the technology industry, combined with sustainable practices.

The presidents of these companies share the common belief that technology, innovation and knowledge sharing have the power to transform the planet.

'We are taking on the challenge of leading the energy transition and becoming carbon neutral by 2030. We truly believe that innovation, technology and collaboration are essential to achieve these goals. The Digital with Purpose Movement embodies this conviction and allows us to join forces with similar leaders around the world in driving this change ', says Miguel Stilwell d'Andrade, EDP's executive president.

The Digital with Purpose Movement is the next step in the GeSI initiative, following the launch of the 'Digital with Purpose' report in 2019. This work allowed us to conclude that digital technologies can have a transformation impact on the capacity to fulfill the 2030's agenda and the United Nations Sustainable Development Goals (SDGs), directly influencing 103 of the 169 SDG objectives. To achieve this ambitious goal, GeSI's Digital with Purpose Movement will catalyze collective action and the implementation of powerful digital technologies.

The members of this movement publicly assume that they will respect and promote the four universal commitments:
1. Support the United Nations Sustainable Development Goals, establishing practical and incremental measures to become an effect-oriented business.
2. Take and report concrete measures on climate change.
3. Embrace the principles of impact transparency every year, and report them accordingly.
4. Develop and implement digital technology with a positive social impact.

In February, EDP announced its ambition to abandon coal production by 2025 and be completely green by 2030, anticipating by 20 years its goals of being carbon neutral.

This vision is supported by three strategic axes: accelerated and sustainable growth; organization with the future in its DNA, supported by greater investment in innovation and digital transformation; and attractive return and excellence in ESG indicators (Environmental, Social and Governance.)

The plan focuses on investments that reinforce EDP's digital and innovative nature: two billion euros will be invested in innovation and digital transformation by 2025, to provide new solutions in hydrogen, energy storage, smart grids, energy communities and electric mobility, and to reinforce the connection of an already global, talented and flexible team.