05.12.2024 | Sustainability is a central part of Axpo’s corporate strategy
Sustainability as a roadmap to the future
Sustainability is a central part of Axpo’s corporate strategy. It is firmly embedded throughout Axpo’s organisatio, operations and shapes our purpose: to enable a sustainable future through innovative energy solutions. The Board of Directors plays a key role in this: it approves non-financial reporting and adopts the sustainability strategy.
In the latest Sustainability Report 2023/24, we’ve highlighted significant progress on our path toward a sustainable future. Some of the Highlights are summarized in the video:
The milestones shown in the video are just part of our progress. Here are additional highlights that showcase our commitment to enable a sustainable future through innovative energy solutions:
Promising Technologies
Through innovative energy solutions, Axpo is enabling a sustainable future. Axpo is focusing, among other things, on technologies that accelerate decarbonisation. One such solution is green hydrogen: it can replace fossil fuels in industry and transport, enable the storage and transport of electricity, and decouple production from consumption. Axpo is therefore investing in a variety of projects. In spring 2024, Axpo opened Switzerland’s largest production facility for green hydrogen in Reichenau, Canton of Graubünden. This facility is expected to produce up to 350 tonnes of green hydrogen annually.
Expansion of biowaste recycling
In Switzerland, Axpo is already a leader in bio-waste recycling, operating several biomass and composting plants. On an international level, Axpo has also expanded its portfolio in this field: in Portugal, a biomethane project was launched to produce over 15 GWh of renewable energy annually. Similarly, in Italy, a new plant is set to produce around 45 GWh of energy from local agricultural biogas per year, feeding it into the national gas grid from 2025 onwards.
Solar Energy on the Rise
With various projects in Europe and Switzerland, Axpo continues to focus on expanding solar energy. A highlight of the year was the completion of the solar car park canopy at Disneyland Paris by Axpo subsidiary Urbasolar. The installation, the largest of its kind in Europe, covers more than 11,000 parking spaces and produces over 36 GWh of renewable electricity annually. This project impressively demonstrates how renewable energy generation can be seamlessly integrated with everyday infrastructure.
Strong Principles – targeted measures
Axpo is fully aware of its corporate responsibility. Integrity and trust are the foundation of its business relationships. For this reason, Axpo promotes a strong compliance culture, including regular awareness campaigns on key topics. Last year, this included a multi-stage anti-corruption programme with a new training course for all employees, followed by a group-wide campaign addressing forms of workplace discrimination. Such measures help ensure that ethical behaviour remains a cornerstone of Axpo’s daily operations.
Our Net Zero Ambition
Axpo remains committed to its ambitious net zero targets, which go beyond statutory requirements. By 2030, CO₂ emissions from its own electricity consumption and vehicle fleet are to be reduced to net zero. By 2040, decarbonisation will be extended to Axpo’s direct sphere of influence (Scopes 1 and 2), and by 2050, emissions across the entire value chain (Scope 3) are also to reach net zero. The ambition and targeted measures to achieve these goals are currently being further refined.
More information and the latest Sustainability Report 2023/24 can be found under Report & Guidelines.
As a major energy company, Axpo has a clear ambition: to make a significant contribution to the successful implementation of the energy transition, while securing long-term growth and innovation in a sustainable manner. Axpo’s holistic understanding of sustainability is based on four pillars, with a strategic focus area defined for each:
- Climate & Environment: Decarbonisation
- Employees & Society: Diversity and inclusion
- Ethics & Responsibility: Responsible supply chains
- Growth & Innovation: Sustainable financing
For each focus area, we are working on strategic ambitions and concrete measures to achieve them. This year’s Sustainability Report highlights key developments and activities, including progress on our net-zero ambition (advancing the electrification of our vehicle fleet), enhanced processes for exercising due diligence in supply chains (using specialised screening and assessment tools for suppliers), and improvements in diversity and inclusion (a continued increase in the proportion of women).
In line with the Paris Agreement, the EU and Switzerland have introduced climate targets as part of their respective legislation, which serve as key benchmarks for Axpo. Against this backdrop, Axpo is committed to a net-zero ambition. Specifically, Axpo goes beyond legal requirements and plans to reduce emissions in three phases:
- By 2030, Axpo aims to achieve net zero for CO2 emissions resulting from its own electricity consumption and vehicle fleet operations.
- By 2040, Axpo plans to decarbonise emissions within its direct sphere of influence (Scopes 1 and 2).
- By 2050, Axpo aims to reach net zero for all emissions (Scopes 1, 2, and 3).
This approach enables Axpo to maintain the necessary flexibility to continue contributing to energy security while actively supporting customers in their decarbonisation journeys.
The development of the energy sector is central to the transition to a CO2-free future. However, alongside decarbonisation, it is crucial to address the other two aspects of the "energy trilemma" – energy security and affordability. Recent years have underscored the importance of these factors.
To strike the right balance, Axpo has analysed various scenarios and engaged in extensive discussions about the interplay of these elements. It is essential for us to consider not only our own objectives but also the needs of society and our customers. With our net-zero ambition, we believe we have found a good balance that is both ambitious and credible, while providing clear direction for the company’s future.
