Press releases pg. 2

The Ministry of the Environment and CEZ Group have signed a Memorandum on Cooperation in Climate Protection, the Energy Sector, and Certain Related Areas. Both parties will cooperate on comprehensive decarbonisation of all segments of the Czech economy. Furthermore, CEZ pledges to speed up achieving carbon neutrality of its operations by 10 years. The commitment undertaken as part of the Paris Agreement had originally envisaged that milestone in 2050. The Ministry will strive to support companies like CEZ in their transition to carbon neutrality, for example, by striving to simplify the permit procedure for building renewable sources of energy, in particular innovative photovoltaics and agrivoltaics.

The CEZ Group’s plan to halve emissions from electricity production by 2030 has been endorsed by the globally recognised expert initiative SBTi. CEZ is the first Czech company to receive the official validation that the declared targets of the largest Czech energy company are in line with the Paris Agreement on limiting global warming. International verification of companies’ decarbonisation targets has become a requirement of banks, insurance companies and investment funds.

CEZ Group, whose headquarters is located on Prague's Rainbow (Duhová) Street, has signed a memorandum of the Pride Business Forum initiative, in which it commits to implementing the principles of LGBT+ diversity while creating a friendly and open work environment for all regardless of sexual orientation and gender identity. The company is planning, for example, meetings between employees and representatives of the LGBT+ community, as well as training aimed at eliminating various prejudices. At the beginning of this year, CEZ Group adopted a new diversity and inclusion policy. One of the first practical steps towards a more diverse and inclusive working environment was to adjust the rights of registered partners to the level of married couples.

Major international agencies focused on the ESG rating of corporations have increased ČEZ Group’s rating by several percentage points. The company’s rating has improved, for example, with the world’s largest ESG rating provider MSCI, the US financial company S&P Global, and with the Institutional Shareholder Services (ISS). Last May, ČEZ Group announced its goal to be among the best 20% of companies in the energy sector in terms of sustainability rating.