GROUP

ENGIE unveils its purpose statement for inclusion in its bylaws

By ENGIE - 28 February 2020 - 08:30

Following six months of collaborative work, ENGIE’s Board of Directors has approved its purpose statement (“raison d’être”) for inclusion in its bylaws at the next General Shareholders' Meeting.

 

During its Annual General Meeting on 17 May 2019, the ENGIE Group expressed its desire to define its purpose statement with its stakeholders, employees, customers, partners and shareholders and share it at the Group’s 2020 Annual General Meeting.

 

ENGIE’s purpose statement was co-created through a robust consultative process with the Group's employees, clients, partners and shareholders, as well as representatives of the civil society. Its aim is to rally all of ENGIE’s internal and external stakeholders around a shared aim, one that is responsible and committed.

 

At its 26 February meeting, the Group’s Board of Directors approved the following wording:

 

ENGIE’s purpose (“raison d’être”) is to act to accelerate the transition towards a carbon-neutral economy, through reduced energy consumption and more environmentally-friendly solutions. The purpose brings together the company, its employees, its clients and its shareholders, and reconciles economic performance with a positive impact on people and the planet. ENGIE’s actions are assessed in their entirety and over time.

 

Claire Waysand, Interim Chief Executive Officer, said:

 

"With this purpose statement, we are committing to a long term perspective and the transition towards carbon neutrality. Our Group has halved its greenhouse gas emissions over the last few years and we are striving every day to develop service offerings that reduce the carbon footprints of cities, local authorities and companies, for the benefit of all.”

 

Jean-Pierre Clamadieu, Chairman of the Board, said:  

 

“The internal and external consultative process demonstrates a strong desire to ensure that a purpose statement translates into concrete actions and, more generally, an intention to translate beliefs and words into action.” 

 

In particular, this purpose statement is expressed in ENGIE’s Corporate Social and Environmental Responsibility targets that the Group announced when it published its 2019 financial results. A few examples:

 

  • greenhouse gas emissions resulting from production of electricity should be reduced from 149 Mt in 2016 to 43 Mt by 2030 (for 80 Mt in 2019);
  • on gender diversity, the share of women in the management of the Group should increase from c. 23% in 2016 to 50% by 2030 (24% in 2019);
  • the share of renewable energy in the power production capacity mix should reach 58% in 2030, compared to 20% in 2016 (for 28% in 2019).

 

 The purpose statement will be submitted to the shareholders for their approval for inclusion in ENGIE’s bylaws at the General Meeting scheduled on 14 May 2020, a strong sign of our deep commitment to tackle the energy and climate challenges facing the world today and our ambition to be a leader in responsible capitalism.

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