Pacifico Renewables Yield AG fulfills 12 out of 13 sustainability targets in 2021 and sets new ambitious targets for 2022 and beyond

July 6, 2022
  • 12 out of 13 sustainability targets for 2021 fulfilled
  • New targets defined for 2022 and beyond
  • Transition to the Global Reporting Initiative (“GRI”) 2021 reporting standards completed

Gruenwald, July 6, 2022 – Today, Pacifico Renewables Yield AG (ISIN: DE000A2YN371) (the “Company”, or together with its subsidiaries the “Group”), an independent producer of electricity from renewable sources, has published its sustainability report 2021 (the “Report”). This Report, the second in the Group’s history, showcases how Pacifico Renewables, as a relatively young company, has integrated sustainability as a central piece of its corporate growth strategy from the very beginning and is becoming even more ambitious in its future sustainability efforts. Furthermore, the Report lays out the Company’s achievements in 2021 and provides an overview of Pacifico Renewables’ sustainability targets for 2022 and beyond as well as its efforts to increase its positive impacts on the environment, people, and partners, and to minimize its adverse impacts.

Christoph Strasser, Co-CEO: “We consider the publication of this second sustainability report another important achievement for our ambition to be at the forefront of corporate sustainability. While last year’s sustainability report laid out our sustainability strategy including our sustainability framework, this year’s report shows how that strategy has enabled us to become a more sustainable company. We are proud to have achieved all but one of our sustainability targets for 2021 which motivates us to become even more ambitious in the future. Furthermore, we have succeeded in transitioning our Report from the GRI 2016 to the GRI 2021 reporting standard which ensures that our sustainability reporting continues to follow one of the most relevant and recent sustainability reporting standards.”

12 out of 13 sustainability targets achieved

The Group achieved all but one of the sustainability targets it set itself for 2021. Among others, Pacifico Renewables succeeded in developing its first greenhouse gas inventory, which provides a detailed assessment of the Group’s CO2-emissions and enables the Company to better understand where emissions occur and how they can be reduced. In addition to that, Pacifico Renewables implemented a Group-wide environmental management system (“EMS”). The EMS significantly improves the mitigation of environmental risks and is a further step towards minimizing adverse environmental impacts caused by the Group’s operations. On top of that, a social management system has been developed and implemented with the aim to reduce social risks. Moreover, the Group has conducted first compliance trainings that cover the Code of Conduct, the Anti-Corruption Guideline, and the Capital Markets Guideline. Pacifico Renewables has also published the Group’s Supplier Code of Conduct. Finally, Pacifico Renewables was able to make progress on its mid-term targets, increasing the share of renewable energy in the Group’s electricity consumption from 60.8% in 2020 to 71.4% in 2021, close to its 2023 target of 75% and increasing its renewable energy portfolio by 84 MW to 166 MW, bringing it closer to its 2023 target of 400 MW.

Ambitious targets for 2022 and beyond

In order to continuously increase its positive impact on the environment, people and partners and to minimize its adverse impacts, the Group has set itself new ambitious targets for 2022 and beyond. Several of the new targets put a special emphasis on improving the cooperation with Pacifico Renewables’ development partners to ensure environmental and social impacts in the development stage of projects are addressed and, where necessary, mitigated.

Moreover, the Group added a new material topic – ‘community relations’ – to its list of material topics. It explains in detail which initiatives the Group has already implemented and which ideas it plans to convert into new initiatives to assure continued amicable community relations.

Dr. Martin Siddiqui, Co-CEO: “At the beginning of 2022 we were able to reap the first economic benefits from our sustainability strategy as our sustainability activities enabled us to develop the Group’s first Green Finance Framework which allows us to issue green debt instruments such as bonds, loans, and private placements. In February 2022, we could sign our first €35 million debut secured green loan private placement with UBS Asset Management. This successful debt issuance shows how our sustainability efforts are already paying off financially and enable us to further accelerate our growth and channel institutional funds into the energy transition.”

GRI 2021 transition

Pacifico Renewables’ Report was drafted in accordance with the new GRI 2021 standard after last year’s report was in accordance with the GRI 2016 standard. Through this transition, the Group’s sustainability reporting continues to follow the most recent version of one of the most widely adopted sustainability reporting standards in the world.

 

About Pacifico Renewables Yield AG

Pacifico Renewables Yield AG is an independent power producer listed on the open market of the Dusseldorf Stock Exchange with additional requirements (Primärmarkt) (ISIN: DE000A2YN371) with the aim of building up a gradually growing portfolio of plants for energy generation from renewable sources. With operational wind and photovoltaic power plants spread across Europe, the company offers a clear and diversified profile with stable and predictable earnings.

Disclaimer

This announcement may contain certain forward-looking statements, estimates, opinions, and forecasts concerning the future business situation, earnings situation, and results of Pacifico Renewables Yield 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 Pacifico Renewables Yield 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. Pacifico Renewables Yield 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. The company does not assume any responsibility whatsoever that the forward-looking statements or assumptions contained herein will occur.

 

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