Uniper : publishes Sustainability Report for 2023 and first Climate Transition Plan

Uniper is publishing its eighth Sustainability Report and its first Climate Transition Plan today. The Sustainability Report presents information about Uniper's most material sustainability issues, how they are managed and what was achieved in the reporting period. The Climate Transition Plan (CTP) sets out the direction for Uniper´s transformation towards its climate targets. Both reports are published as separate documents and can be downloaded from the company website.

First Climate Transition Plan sets out the direction for Uniper´s transformation towards their climate targets

In August 2023 Uniper unveiled their new strategy with the clear commitment to accelerate the transformation into a greener company by maintaining a secure supply of energy. Decarbonization and security of supply are two sides of the same coin. For this transformation approximately €8 bn will be invested by 2030. Uniper's decarbonization targets have been significantly tightened and concretized: Carbon neutrality across the entire value chain will be achieved by 2040, ten years earlier than originally planned. For the scope 1 and 2 emissions specifically, carbon neutrality is planned already by 2035. To achieve this, it requires a robust Climate Transition Plan which aims to serve as a roadmap to embrace the transformation Uniper needs.

Key pillar of the Climate Transition Plan is the transformation of Uniper´s portfolio and has the full support of the Supervisory Board and the Board of Management. This includes phasing out its coal-based power generation, investing into renewables, converting a significant part of its 8.5 gigawatt (GW) gas-fired capacity to hydrogen, biofuels or CCS/CCU, and engaging into respective new-build opportunities for new hydrogen-ready power plants. Uniper will also gradually transform its commodity portfolio by increasing the share of greener gases over time, developing own hydrogen production, and expanding its commercial activity in the field of renewable PPA (Power Purchase Agreements).

Uniper committed to a just transition to a low-carbon future

A key aspect of Uniper's decarbonization strategy is the repurposing of existing power-plant sites for a sustainable economy. Uniper engages in effective dialogue and stakeholder engagement to support employees and communities affected by the company's transition. Uniper is convinced that the transition to a low-carbon future must be fair for as many stakeholders as possible. Therefore, Uniper engages in dialogue with stakeholders that are affected by it-like our employees at facilities scheduled for closure or repurposing as well as people in nearby communities.

Initiatives like the "Energy Transformation Hub Northwest" and the transformation of the Staudinger power plant exemplify Uniper´s commitment to this goal. By involving internal and external stakeholders from the outset, Uniper aims to not only make energy supply fit for the future but also contribute to economic development, preserve jobs, and create new employment opportunities. Uniper´s Just Transition Framework, aligned with principles from the International Labour Organization and COP26 agreement, focuses on transparency, workers' resilience, environmental protection, and value creation. In 2023 Uniper has begun developing a just transition policy statement to ensure the transition adheres to these principles and commitments.

Additionally, Uniper is actively engaged in supporting economic diversification programs in coal-mining regions, such as its involvement in Bettercoal's initiative in Colombia. This year Uniper will continue to explore opportunities to support a fair energy transition along its coal supply chains, reinforcing Uniper's commitment to sustainability and social responsibility.

Uniper's Commitment to Human Rights: Appointing Its First Human Rights Officer

Uniper took a significant step towards upholding its commitment to respecting human rights across its business activities by appointing its first Human Rights Officer. This appointment aligns with Uniper's dedication to adhere to international human rights standards. The role of Uniper's Human Rights Officer is pivotal in ensuring the effective management of human rights and environmental risks within the company. Reporting directly to the Uniper Management Board, the Officer holds the responsibility for overseeing Uniper's human rights strategy and ESG risk management. Collaboration with relevant business functions allows for the development of tailored engagement strategies for specific suppliers, reinforcing Uniper's commitment to ethical business practices.