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Western Balkans energy companies earmark €1.1 bn for UN Sustainable Development Goals

05-20-2019 11:46 AM CET | Energy & Environment

Press release from: Beyond Brundtland

Screenshot of report front page

Screenshot of report front page

Beyond Brundtland
analyst@beyondbrundtland.com
www.beyondbrundtland.com

Date: May 20, 2019

FOR IMMEDIATE RELEASE

Western Balkans energy companies earmark €1.1 bn for UN Sustainable Development Goals

⦁ 14 energy companies in 6 countries are striving to lessen environmental footprint
⦁ Western Balkans energy sector working towards 16 of 17 UN Goals
⦁ New report reveals industry voluntarily made 160 sustainability pledges

Belgrade, Serbia –Beyond Brundtland has launched the Energy Industry Sustainability - Western Balkans 2019 report, the first region-wide survey of energy industry alignment with 17 UN Sustainable Development Goals (SDGs).

Humankind is responsible for roughly 1°C of global warming above pre-industrial levels and the IPCC expects global warming is likely to reach 1.5°C between 2030 and 2052. The IPBES announced that 1,000,000 species are threatened with extinction worldwide, in May 2019. On the other hand, authorities in Western Balkan nations are actively planning the construction of some 2,800 MW of new coal plants, claims CEE Bankwatch Network.

Beyond Brundtland has shined a spotlight on the overall and individual alignment of 14 energy companies in six Western Balkan nations (Bosnia and Herzegovina, Croatia, North Macedonia, Montenegro, Serbia and Slovenia) with the 17 UN SDGs of the 2030 Agenda for Sustainable Development.

The study reveals that the 14 companies set aside €1.1 bn in time-dependent commitments towards addressing environmental, economic and social aspects of 16 out of 17 SDGs. The analysis further reveals that the energy industry has committed to helping 10,000 employees and 30,144 people in the region.

The top three SDGs account for more than 40% of the commitments by the companies involved: 17.5% of pledges were made against the UN’s Sustainable Development Goal 9: Industry, Innovation and Infrastructure, 12.5% of pledges were made towards SDG 10: Reduced Inequalities and 10.6% towards SDG 12: Responsible Production and Consumption. No pledges were made towards Goal 2: Zero Hunger.

Croatia, via its three energy companies that have made specific time-dependent pledges [INA, HEP and HOPS], leads the Western Balkans with 73 specific pledges towards the UN SDGs, followed by Serbia in second place with 49 pledges thanks to commitments by NIS, EMS and EPS.

Croatian oil & gas company INA leads the region with 42 pledges towards the 17 UN SDGs, followed by power company HEP with 30 separate pledges. The list of analyzed companies that had specific pledges towards the SDGs also includes Borzen, Elektro Ljubljana and HSE (Slovenia), EPBiH and NOS BiH (Bosnia and Herzegovina), ESM and MEPSO (North Macedonia), HOPS (Croatia) and CGES (Montenegro).

The analysis is based on the corporate annual reports and corporate sustainability reports for 2017, and press releases covering that period. A preliminary analysis of 28 companies in eight Western Balkans countries (Albania, Bosnia and Herzegovina, Croatia, Kosovo, Montenegro, North Macedonia, Serbia, Slovenia) resulted in the compilation of the 160 time-dependent sustainability commitments by 14 companies in 6 countries (all aforementioned markets, except Kosovo and Albania).

The scope of the report includes companies from the region’s crude oil & natural gas sector, electricity transmission, production and distribution companies, as well as electricity market operators.
In addition to the first overview report on Energy Industry Sustainability - Western Balkans 2019 that has been published, Beyond Brundtland plans to publish in quick succession four in-depth reports on the energy industry’s specific commitments towards SDGs 1-5, SDGs 6-9, SDGs 10-13 and SDGs 14-17.

“This is the first in-depth report on the relationship between the main players in the Western Balkans energy industry towards the UN SDGs and it has revealed a treasure-trove of information. We now know that more than one billion euros has been pledged collectively. Yet, it was surprising to find that the average deadline for these pledges was very short, which indicates there is a lot of room for more ambitious goal setting and targets in the future”.

Beyond Brundtland is a Belgrade-based online analytical platform for evaluating industry alignment with the 17 UN SDGs based on corporate pledges.

More information about the findings from this report can be found on Beyond Brundtland’s website at the following URL: Energy Industry Sustainability - Western Balkans 2019.

Attached images:

1. Screenshot report cover page, Energy Industry Sustainability - Western Balkans 2019: http://bit.ly/2WJ0xsn
2. Screenshot report page 3, Report Overview with company names: http://bit.ly/2HprpY1
3. Screenshot report page 12, Number of pledges by country: http://bit.ly/2W76diA

Press contact:

Beyond Brundtland
T +381 64 277 8 288
F:+39 06 233 122 10
analyst@beyondbrundtland.com

Beyond Brundtland is a Belgrade-based analytical company focused on assessing corporate compliance with the United Nations Sustainable Development Goals (SDGs).

Beyond Brundtland

Address:
Ulica 34
11000 Belgrade
Serbia

Press contact: Mr Peter Dubbon

Email: analyst@beyondbrundtland.com
Tel: +381 64 277 8 288
Fax: +39 06 233 122 10
Web: www.beyondbrundtland.com

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