Gruenwald, August 25, 2023. Tion Renewables AG (ISIN: DE000A2YN371) today published its third sustainability report in a row. It provides an overview of the ESG activities of both Tion Renewables AG and its subsidiaries (“Tion”, “company”) and depicts the sustainability goals and target achievements of the reporting year 2022. The report has been prepared in accordance with the GRI Universal Standards 2021 of the Global Reporting Initiative.
Selection of ESG highlights for the reporting year 2022
- Environment: Share of renewable energy in total energy consumption increased to 91.0% (2021: 65.3%).
- Environment: Carbon Intensity Ratio (“CIR”) shows the amount of CO2 emissions (gram of CO2 equivalent, gCO2e) Tion emits per revenue generated (€). In the reporting year, the company reduced its CIR by 77.1% to 1.94 gCO2e/€ compared with the previous year (2021: 8.47 gCO2e/€).
- Environment: 237.0% more greenhouse gas emissions (ton of CO2 equivalent, tCO2e) avoided than in the previous year. This corresponds to around 181k tCO2e (2021: Just under 54k tCO2e) or the approximate amount of CO2 emitted annually by 23,500 German citizens.
- People: Female share of employees increased to 42.0% (2021: 32.0%).
- Partners: Supplier screenings implemented and carried out, which include environmental, social, human rights, and governance criteria.
Selection of key contents of the report
In addition to the aforementioned ESG highlights, it is worth emphasizing that Tion has managed to achieve 12 of its 15 sustainability targets set for 2022.
Moreover, the company reports on the manner in which its ESG activities contribute to the fulfillment of the United Nations’ 17 Sustainable Development Goals, the goals of the Paris Climate Agreement, and the European Green Deal, which aims to achieve a carbon-neutral Europe by 2050.
A key element within Tion’s third sustainability report is the sustainability strategy defined by the Management Board, which is primarily derived from the company’s sustainability framework. The sustainability framework focuses on the areas on which Tion can have a significant impact from an ESG criteria perspective—the environment, people, and partners.
The area environment is about delivering renewable energy in a sustainable and efficient way; with regard to people, the focus is on fostering talent, communities, and digitalization; the partners area is dedicated to having excellent partnerships with stakeholders on which the company is building a responsible renewable energy platform.
The report also includes a section on the popular topic of supply chains in the context of renewable energy generation. Following the acquisition of its first battery energy storage system (“BESS”) in November 2022, Tion has expanded its supply chain analysis report, which covers potential environmental and social impacts and risks along the supply chains the company uses for wind and solar power generation and energy storage through BESS. A complementarily developed supply chain management system ensures regular improvements of the system as well as the actual tracking of identified risks.
Comment by Christoph Strasser, Co-CEO/CIO of Tion Renewables AG
“2022 was another eventful year for us. In particular, the closing of our first green loan confirmed our decision to focus on transparency in the area of sustainability at an early stage. As such, our third voluntary sustainability report, which aims to provide a comprehensive overview of our ESG efforts, is intended to once again reflect our commitment to transparency, accountability, and sustainable practices with regard to our environment, our people, and our partners.”
Download the report
Tion’s full Sustainability Report 2022 is available for download from the ESG section of the company’s website at www.tion-renewables.com/esg.
Driven by the commitment to accelerating the transition toward a clean energy future, Tion Renewables AG operates a portfolio of wind and solar power plants across Europe with a capacity of approximately 167 megawatts (MW), holds a stake in the European IPP clearvise AG, and has priority access to a pipeline of more than 5 gigawatts (GW) of wind and solar power plants as well as battery energy storage systems (BESS). By investing into both infrastructure and businesses within the energy transition space, Tion makes use of the full spectrum of opportunities offered by the increasing global efforts to decarbonize our electricity system. The company went public in 2019 and is tradable on Xetra as well as other German open market exchanges (ISIN: DE000A2YN371). To learn more, visit www.tion-renewables.com or connect with us on LinkedIn.
This announcement may contain certain forward-looking statements, estimates, opinions, and forecasts concerning the future business situation, earnings situation, and results of Tion Renewables AG (“forward-looking statements”). Forward-looking statements can be identified by words such as “believe”, ”estimate”, “anticipate”, “expect”, “intend”, “will”, or “should” and their negation and similar variations or comparable terminology. Forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current opinions, forecasts and assumptions of the management board of Tion Renewables AG and involve significant known and unknown risks and uncertainties, therefore actual results, performance and events may differ materially from those expressed or implied by forward-looking statements. Forward-looking statements contained herein should not be construed as guarantees of future performance or results and are not necessarily reliable indicators of whether or not such results will be achieved. The forward-looking statements contained in this release are only valid on the date of this publication. Tion Renewables AG will not update the information, forward-looking statements or conclusions contained in this release in light of subsequent events or circumstances, nor will it reflect subsequent events or circumstances or correct inaccuracies that arise after the date of this release as a result of new information, future developments or otherwise, and the company does not assume any obligation to do so. Tion Renewables AG does not assume any responsibility whatsoever that the forward-looking statements or assumptions contained herein will occur.