Italgas: BoD approves the 2022-2028 Sustainable Value Creation Plan

Milan, 14 December 2022 - The Board of Directors of Italgas today approved the 2022-2028 Sustainable Value Creation Plan, "Builders of the Future", which sets concrete actions and ambitious targets for the creation of value for the Group's stakeholders and for the territories in which it operates; the document is part of the trajectory already traced by the 2022-2028 Strategic Plan of 8.6 billion euros of investments. Along with the Value Creation Plan, the “Driving innovation for energy transition” report was also presented to the BoD. It explores the relationship between Italgas Group's business and the impacts associated with climate change in line with the recommendations of the Task Force on Climate-Related Financial Disclosure (TCFD).¹

The two documents, produced in line with international frameworks and best practices, provide further evidence of how sustainability for Italgas it’s not just an integral part of strategic development, but a founding element and pivot of actions aimed at achieving the targets set by the REPowerEu.

"Builders of the Future" is structured around three pillars - planet, people and partnership - to which correspond specific lines of action with clear commitments, measurable targets and expected medium and long-term results. Results to be achieved by leveraging strategic drivers such as technological innovation, circular economy, training, diversity and inclusion.

Targets set to 2028 include the creation of a 100% hydrogen-ready distribution network, the production of 200 tons of hydrogen through the future Power to Gas plant in Sestu (Cagliari) - demonstrating the validity of the solution for transportation and industrial and residential uses - the involvement of 18,000 citizens in energy transition training activities, and the global assessment of more than 3,000 startups and SMEs for possible collaborations.

In "Driving innovation for energy transition", Italgas discloses its strong commitment to decarbonization of both its own business, with a "Net Zero Carbon Goal" to 2050, and the territories in which it operates, managing the opportunities (and risks) related to climate change in the best possible way, through the drivers of digital transformation and energy efficiency, also at the service of the customers of the Group's ESCo, Geoside.

Italgas CEO, Paolo Gallo, explained: “For years, sustainability has been considered an almost abstract concept, with respect to which to adjust business strategies and objectives but without a direct correlation to real development. A short-sighted and distant vision from the idea of concrete actions and interventions that make sustainability the main driver to reach the goal of the net zero economy. At Italgas we have been working on this for some time in the awareness that whatever we can measure we can also manage. The two new documents go precisely in this direction: providing a detailed map within which we can move according to precise coordinates and intermediate goals”.

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¹Established in 2015 by the Financial Stability Board - https://www.fsb-tcfd.org/