• MAIRE for the first time publishes the group report based on the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), approved by the Board of Directors today, confirming the Group's ability to adapt and evolve in a rapidly changing environment by integrating climate challenges into its risk and opportunity management system

Milan, 10 September 2024 – The Board of Directors of MAIRE S.p.A. today approved the corporate report based on the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), marking a significant step towards greater transparency and proactive management of climate-related risks and opportunities. This document, which has been issued on a voluntary basis, represents a concrete commitment to providing stakeholders with a clear and comprehensive view of how MAIRE is addressing and integrating climate challenges into its medium and long-term business strategy and decision-making processes.

The report considers both short-term and medium to long-term perspectives, with outlooks extending to 2030 and 2050. It includes an in-depth analysis on how three different climate change scenarios (based on IPCC[1] data) could affect MAIRE’s operations and outlines the strategies and the solutions adopted to mitigate the potential effects of both physical risks, such as the impact of extreme weather events, on proprietary assets and ongoing projects, and transition risks, related to the shift towards a low-carbon economy.

Results show a low level of exposure both to physical and transitional risks related to climate change, further balanced by the business opportunities deriving from the development of technological and engineering solutions dedicated to decarbonization and energy transition, and highlight the company's ability to adapt and evolve in a rapidly changing environment with an increasingly resilient business model.

As part of the TCFD project, MAIRE has integrated climate considerations into its risks and opportunities management systems. This approach ensures that every strategic and operational decision is supported by a thorough analysis of climate-related impacts, enabling the company to effectively anticipate challenges and capitalize on relevant opportunities.

Within its sustainability strategy, MAIRE has defined an ambitious decarbonization plan with clear and achievable objectives: 35% reduction in Scope 1 and 2 emissions[2] by 2025 compared to the 2018 baseline, 9% reduction in Scope 3 Intensity on value added[3] by 2025 compared to 2022. Carbon neutrality for Scope 1 and 2 emissions is targeted by 2029 and for Scope 3 emissions by 2050.

Alessandro Bernini, MAIRE CEO, commented: “This TCFD report represents a significant step in MAIRE's strategy to integrate climate resilience into all its operations, demonstrating a concrete commitment to sustainability and operational excellence in a continually evolving global context, also taking into consideration the upcoming Corporate Sustainability Reporting Directive regulation.”

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The first TCFD report of the MAIRE Group is available to the public on the Company’s website (www.groupmaire.com), at the following  section: Sustainability for investors | Maire (groupmaire.com).

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[1] IPCC – Intergovernmental Panel on Climate Change

[2] Scope 1 refers to the GHG-emissions from MAIRE Group’s operations in project sites and Group’s offices, while Scope 2 are indirect GHG emissions from consumption of purchased electricity and heat used in the Group’s own operations.

[3] Scope 3 refers to indirect greenhouse gas emissions relating to selected clusters of goods and services purchased by MAIRE Group (i.e. control systems, electrical components and systems, handling systems, packages, rotating equipment, static equipment); Scope 3 GHG Emissions Intensity is the ratio between Scope 3 GHG Emissions and Value Added calculated in accordance with the Science Based Targets initiatives (SBTi) Guidelines.