The MOL Group’s sustainability plan is ambitious

By: Trademagazin Date: 2024. 03. 14. 09:04

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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.