MET Group allocated 70% of its capital expenditure to green projects, achieving a 72% increase in renewable energy output in 2023. This is one of the conclusions of the Swiss-based company’s inaugural TCFD Report, reaffirming MET’s dedication to climate transparency and driving the transition towards a low-carbon economy.
Aligned with TCFD (Task Force on Climate-related Financial Disclosures) recommendations, the report provides an in-depth look at how MET Group identifies, manages, and mitigates climate-related risks, whilst capitalising on opportunities to support Europe’s energy transition. The company has made significant progress in its sustainability goals: MET Group is heavily invested in green energy, with 403 MW of operating renewable projects in 2023, as well as 646 MW of development and construction stage projects, key to meeting its sustainability targets.
MET Group is dedicated to accelerating the European energy transition, providing support to the EU’s plan to transition from coal to gas by 2030 and from gas to renewable energy by 2050, underlining its commitment to a zero-emission future. The company refrains from investing in carbon-intensive assets like coal and prioritizes supplying natural gas, LNG, and power to customers. MET provides a clear breakdown of its emissions, including Scope 1, 2, and 3, in compliance with the GHG (Greenhouse Gas) Protocol.
MET Group’s strategy balances sustainability with energy security and affordability, embracing the energy trilemma. Through continued investment in renewable energy and infrastructure, the company is reducing the carbon intensity of the European grid, while leveraging natural gas as a transitional fuel and maintaining a reliable energy supply.
MET Group Chairman and CEO Benjamin Lakatos said: “Achieving a net-zero world should not place an undue burden on society. Our goal is to manage the energy transition efficiently and cost-effectively, ensuring that European consumers and industries benefit from a competitive energy supply without facing escalating costs.”
MET Group CFO Sven Kirch added: “This TCFD report marks a pivotal moment in our journey as an energy transition company and highlights our commitment to managing climate-related risks while seizing opportunities.”
To access the full TCFD Report 2023 please click here.
MET Group
MET Group is an integrated European energy company, headquartered in Switzerland, with activities and assets in natural gas and power markets. MET is present in 15 countries through subsidiaries, 30 national gas markets, and 39 international trading hubs. The company's 1,000+ employees represent close to 60 nationalities. MET has extensive experience operating green (renewable) and flexible (conventional) energy assets, thus providing the widest possible support to energy transition. In 2023, MET Group’s consolidated sales revenue amounted to EUR 24.5 billion, with a total traded volume of natural gas amounting to 88 BCM and total traded electricity of 68 TWh.