The MOL Group’s sustainability plan is ambitious
Focusing on the future, the Mol Group has set itself ambitious plans in the field of sustainability. According to their updated long-term strategy, called SHAPE TOMORROW, the company will spend more than $4 billion on green investments by the end of the decade and achieve carbon-neutral operations by 2050.
The new strategy focuses on renewable energies, green hydrogen, biomethane and geothermal energy. According to Zsolt Hernádi, president and CEO of Mol, the energy transition is inevitable, but the entire cost cannot be passed on to industrial companies.
The main goal of the strategy is to guarantee energy supply security and promote the green energy transition. To do this, the company is further strengthening its traditional business divisions and placing great emphasis on the production of biomethane and green hydrogen.
In addition to conventional hydrocarbon production, the company invests in carbon-neutral projects, including geothermal exploration, a lithium project, and carbon injection and storage.
As part of the business strategy, major investments are also expected in the field of consumer services. Mol plans to achieve annual EBITDA of 1 billion dollars by 2030 and will increase the proportion of non-fuel type products.
The company is also developing its own renewable portfolio, which includes solar energy investments and a green hydrogen plant. Mol strives to provide most of its production with renewable resources, while also taking significant steps in the field of waste management.
Overall, the Mol Group’s new strategy lays out ambitious plans for sustainability and the energy transition, contributing to a green and sustainable future.
Related news
British consumers and biodegradable bottles: they are willing to pay more, but it is not enough
British consumers are willing to pay a higher price for…
Read more >Coffee consumption declines in Germany in 2024
Total per capita consumption dropped nearly 2% in volumes to…
Read more >Aldi cuts back on wine packaging
The UK subsidiary of budget supermarket Aldi will cease to…
Read more >Related news
Margin is very much not profit
The government announced that it would introduce a margin cap…
Read more >Margin freeze in Hungary: Who is affected and is government intervention really justified?
The Hungarian government will introduce a margin restriction on certain…
Read more >China’s retail sales skyrocket in the first two months of the year
China’s industrial output grew 5.9 percent year-on-year in the first…
Read more >