04.12.2023 | Ambitious net-zero ambitions
Axpo enables a sustainable future through innovative energy solutions. As a leading energy company, we aim to make a significant contribution to the energy transition by following our long-term business model.
Sustainability is firmly embedded in Axpo’s organisation. The Board of Directors is responsible for non-financial reporting and signs off on the sustainability strategy drawn up by management. Axpo’s approach to sustainability is based on four pillars:
Climate & environment
Axpo makes an important contribution to the energy transition, focussing on the expansion of photovoltaic (PV), wind and biomass plants. By concluding power purchase agreements (PPAs), our energy trading supports the construction of facilities for sustainable energy generation. Of central importance is that energy production is as environmentally friendly as possible and resources and waste handled responsibly. We support climate targets in Switzerland and Europe and have also set our own ambitious climate targets which go beyond legal requirements.
We aim to reduce CO2 emissions from our electricity consumption and vehicle fleet to net zero by 2030, as defined by the global Greenhouse Gas Protocol (GHGP). The emissions in Axpo’s direct sphere of influence are to be decarbonised by 2040 (net zero in Scopes 1 and Scope 2 of the GHGP. And we want to fully decarbonise all our emissions by 2050 (net zero in Scopes 1, 2 and 3). Axpo’s aim is to preserve the necessary flexibility to continue contributing to energy supply security while also helping customers on their own decarbonisation journey.
Employees and society
Axpo assumes its social responsibility with conviction. We invest in our employees and promote diversity and well-being among our workforce, who we believe should be able to develop both personally and professionally to achieve their full potential. Axpo strives to offer an attractive, safe, healthy and flexible working environment. What’s more, we also aim to make a positive impact on society through our philanthropic initiatives.
The proportion of female employees increased again in the reporting year to 23%. The number of apprentices also rose from 469 to 486. This is a further step towards our goal of having more than 600 apprentices by 2030.
Ethics and responsibility
At Axpo, we are aware of our corporate responsibility and do business according to our principles. Business relationships are based on integrity and trust. That is why we both promote and demand a strong culture of compliance. Axpo is also determined to work with partners who share our ethical principles. Furthermore, we are aware of our responsibility to provide a reliable, secure electricity supply, and do everything in our power to fulfil this role.
Axpo introduced additional measures for a responsible supply chain in 2023, creating a policy on child labour that expands existing guidelines. To increase transparency in the supply chain across the Group, we have also introduced various specialist data platforms which will help to assess suppliers in terms of sustainability.
Growth and innovation
Axpo uses sustainability-linked financing options to safeguard forward-looking growth possibilities. We see ourselves as drivers of the energy transition, investing in the technologies of tomorrow – such as storage options for electricity and green hydrogen – with a focus on innovation. As a centre of excellence in the field of energy, Axpo also makes a proactive contribution to public debates on energy issues and future scenarios.
In 2023, Axpo was involved in the implementation of two lithium-ion battery storage projects in Sweden. The facilities are set to start operations in 2024. Construction of a hydrogen plant at the Reichenau hydropower plant has also been under way since the beginning of 2023. Commissioning is scheduled for the end of 2023. The Power Switcher interactive modelling tool was also updated in 2023. Part of our contribution to the public energy discussion, this helps users identify what the Swiss electricity system of the future could look like by exploring various scenarios.
Details on the most important developments and results in the field of sustainability can be found in the Axpo Sustainability Report 2022/23.