In accordance with its 2021-2025 sustainability roadmap, the Group has successfully refinanced its debt with a Sustainability Linked Bond (SLB) issue that links its financial performance to its sustainability performance.
This lever went live in September 2021 when Saur Group signed a contract with ENGIE to purchase 40 GWh per year of hydropower-generated electricity; a quantity of power sufficient to meet the needs of 2,500 homes. The Group has signed a Corporate PPA (Power Purchase Agreement) with ENGIE, which pegs the price of the electricity supplied for a four-year period. The renewable credentials of this electricity are evidenced by the renewable energy guarantees of origin issued by the hydropower generating plants operated by ENGIE subsidiary SHEM (Société Hydro-Électrique du Midi).
Metrics for 2022 show significant progress, particularly in terms of our overall carbon impact: during the year, we reduced our carbon intensity by 21% compared with 2021 (Scopes 1&2 over a rolling 3-year period), i.e. 114.3 rather than 144 tCO2e, as a direct result of accelerating our use of energy from renewable sources. Water abstractions per customer were also down by 5% year on year. Lastly, we continue to make good progress towards gender parity in executive leadership roles, with a ratio of 26.75% in 2022, compared with 21.2% in 2020. We remain more actively committed than ever to achieving the objectives previously set for 2025.