Press releases pg. 28

The investor group engaging with CEZ Group in the framework of Climate Action 100+ (Kempen, Generali Investments, NN Investment Partners, Northern Trust Asset Management, Robeco) have welcomed the announcement (see press release) that the Science Based Target Initiative has validated the 2030 targets of the CEZ Group as being aligned with a “well below 2°C” Paris Agreement goal.

CEZ has signed a credit agreement with the Ministry of Finance of the Czech Republic for up to EUR 3 billion. This credit agreement allows CEZ to strengthen its liquidity position. It is now at a record high level, however, due to extreme changes in gas and electricity prices, it is necessary to prepare for further extraordinary growth of funds to secure trades in energy commodities in the coming months. This is another step taken by the state and CEZ to strengthen the Czech Republic’s energy security.

CEZ Group continues in the trend of building a more sustainable energy sector: the company has reduced the volume of emissions, water consumption in production, energy intensity of its operations, and waste production. It has also made significant progress in the construction of charging stations for e-mobility and the supply of modern energy solutions for households and businesses. CEZ Group 2021Sustainability Report maps in detail over 200 indicators in various areas. For the first time, it includes the classification of activities according to the EU taxonomy and selected activities have been audited.

CEZ Group concluded contracts with Westinghouse and Framatome for the supply of fuel assemblies for the Temelín Nuclear Power Plant, thus confirming an important step towards further strengthening the energy security of the Czech Republic. Both suppliers, American and French, were selected in a tender in April this year. Deliveries of assemblies for more than 10 years will begin in 2024. The value of the contract is in the order of billions of crowns.