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Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energies, aims to become a Mission-driven company, in line with the French PACTE1 law. Voltalia will present a resolution at its next General Meeting of Shareholders, the 19th of May, to amend its bylaws.
"Voltalia has a positive impact, that amplifies year after year. Having CSR2 objectives in Voltalia's bylaws will allow to better achieve its Purpose: Improve the global environment while fostering local development. Since the creation of Voltalia, its teams have been determined to improve a world threatened by global warming and to ensure that energy transition benefits the human development in countries where Voltalia operates. Our new status as a Mission-driven company, if our shareholders decide so, will allow us to align our bylaws with the daily action and culture of ‘Voltalians'” comments Sébastien Clerc, CEO of Voltalia.
Voltalia has defined its Purpose in 2014, written in its bylaws in May 2020: improve the global environment fostering local development. Since its creation 15 years ago, Voltalia has been developing, building and operating renewable energy plants, for itself and third-party customers in both the most developed countries and emerging ones. Voltalia thus actively contributes to the fight against climate change and local socio-economic development:
In 2020, Voltalia's electricity production amounted to 2.8 terawatt-hours, the equivalent of 3.8 million people consumption in energy. It avoided the emission of 1,546 kilotons of CO2 into the atmosphere, equivalent to all the smartphones used in France (more than 55 million).
Voltalia primarily targets regions of the world where renewable energies do not need subsidies to locally produce affordable electricity. The Group thus offers a unique profile with around 80% of its installed capacity producing electricity at a competitive and non-subsidized price. Through its activity of Services for its third-party customers, Voltalia multiplies its positive impact by helping other players to produce a renewable energy. Since its creation, Voltalia has developed, built, and maintained for its customers a renewable electricity capacity greater than the one retained by the Group.
In addition to creating direct and indirect jobs and sustainable infrastructure in the territories where it operates, Voltalia has donated nearly two million euros since 2014 for the achievement of 86 solidarity actions and social projects in Brazil.
The company now wishes to align its activity with its bylaws by including three environmental and social objectives in connection with its Purpose. Voltalia will pursue these objectives within the framework of its activity within the meaning of Article L. 210-10 of the Code of Commerce:
1) Act for the production of a renewable energy accessible to the many, through a quality and affordable green electricity and a direct contribution to the fight against climate change;
2) Contribute with local population to the sustainable development of our territories by building long-term relationships with our local stakeholders;
3) Make the best out of the planet resources in a sustainable way by maximizing the positive impact of its activities on the environment, throughout our value chain.
The PACTE law allows French companies that wish so to define their Purpose to clarify their collective long-term project. Combined with social and environmental objectives, this Purpose becomes a “mission” and the company becomes a Mission-driven company. The PACTE law requires a Mission Committee, that will be formed soon to monitor the execution of the mission by the company.
These social and environmental concerns have been at the heart of Voltalia's sustainable growth model since its creation and these objectives result from a process of dialogue with Voltalia's teams and external stakeholders during collaborative workshops.
The adoption of the Mission-driven Company status shows Voltalia’s ambition to pursue its work for the environment and local development, with the desire of a continuous improvement of its practices.
By becoming the first company in its sector and the second company listed on the regulated market of Euronext to achieve the status of Mission-driven Company, Voltalia aims to show to all companies that they can register a reality in their bylaws that everyone can observe daily, which is the pursuit of objectives that are not strictly economic, but also social and environmental.
Next on the agenda: General Meeting on May 19, 2021
About Voltalia (www.voltalia.com)
Voltalia is an international player in the renewable energy sector. The Group produces and sells electricity generated from wind, solar, hydraulic, biomass and storage facilities that it owns and operates. Voltalia has generating capacity in operation and under construction of more than 1.4 GW and a portfolio of projects under development representing total capacity of 9.7 GW.
1 The PACTE law (Action Plan for Business Growth and Transformation), promulgated on May 22, 2019, allows French law businesses who want to do so to acquire a “purpose” and to include social and environmental objectives in their bylaws in order to become a Mission-Driven company.
2 CSR: Corporate Social Responsibility