Environmental and climate risks: in-depth analysis and disclosure

CLIMATE RISKS

Climate change is one of the most important environmental and social challenges, both internationally – as evidenced by the Paris Climate Agreement and the long-term European strategy “for a prosperous, modern and climate-neutral economy by 2050 – A clean planet for all” and the recent Green Deal promoted by the European Commission – and nationally, as indicated in the Integrated Energy and Climate Plan (IECP), which shares the Community’s orientation aimed at strengthening the commitment to decarbonisation of the economy.

In 2019, the Climate Action Summit was held in New York, an important event organized by the United Nations with the dual objective of stimulating countries to achieve the objectives of the Paris Agreement and encouraging concrete actions in support of these objectives in the real economy.

In this context, consistent with international, European and national orientations, Acea has strengthened its mitigation and adaptation strategy with respect to climate change with concrete actions, including energy efficiency for companies and, in the water sector, the reuse of purified wastewater in agriculture or the production of drinking water from the Tiber in cases of emergency (see the 2019-2022 Sustainability Plan and the operational objectives in Corporate Identity).

Furthermore, in line with the provisions of the Task Force on Climate-Related Financial Disclosures (TCFD), Acea assesses climate risks by breaking them down into physical and transition risks (see also Corporate identity chapter Corporate Governance and Management Systems) and reports them in the aforementioned CDP. Acea is increasingly working to align itself with the recommendations of the TCFD by progressively including the consideration of climate risks in economic and financial reporting.

Through targeted initiatives such as the increase in production from renewable energy sources⁹⁸, the Group has the dual objective of achieving high efficiency both in internal energy end-uses and in process uses and reducing carbon intensity (gCO₂/kWh produced). The results obtained to date are shown in table no. 59 on energy intensity indices and table no. 65 on emission intensity indices.

⁹⁸ In particolare nel 2019 Acea Produzione ha acquistato alcuni impianti fotovoltaici per 26 MW di potenza.