INSIGHT ISSUE 01 | 2021

23 The Carbon Trust is helping Prysmian develop science-based targets across the company’s own operations globally (Scope 1 and 2) and its wider value chain (Scope 3). We are collaborating closely in this effort with the Environment Health & Safety (EHS) team as well as multiple functions across the business including: R&D, procurement, and operations – all of which will contribute towards achieving an ambitions decarbonisation pathway. Prysmian is also in a unique position, through its technology and solutions, to deliver the infrastructure enabling the decarbonisation of our economies. The Carbon Trust is therefore also working with Prysmian to develop methodologies for quantifying the positive enablement impact of the company’s technology. This builds on the Carbon Trust’s experience developing frameworks for quantifying ‘avoided emissions’. INSIGHT | Tracking the Future PRYSMIAN GROUP EDITORIAL STAFF The relationship between government and business is realigning. Combined with governments’ record low borrowing costs, this provides an unparalleled opportunity to reshape our economies – ensuring they are climate-proofed for the future. The case for a net zero recovery is strong. Governments have so far pledged to devote over US$10 trillion to economic stimulus measures globally. As they decide how to structure their response, there needs to be an urgent focus on how to ensure this unprecedented level of investment puts us on the path to a net zero recovery and not a business as usual, high-emissions recovery, vulnerable to climate risks. The deployment of renewables to produce power and heat should be a priority in any net zero recovery plan. Renewable energy generates more jobs in the short-term when jobs are scarce in the middle of a recession, boosting spending and increasing short-term GDP multipliers. Renewables also have important co-benefits – from reduced air pollution (especially where coal continues to play a significant role in power generation) to increased rural electrification for those living off grid. How can economic growth be integrated with decarbonisation and renewable energy sources? Could you describe your work and your project with Prysmian?