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Carbon Neutral Website
Adapting to Climate Change

Adapting to Climate Change

Energy is a key raw material for our Company’s activities and is also expected to become a key source of income in the near future.

According to a view that is rapidly gaining ground, the consumption of the energy produced by mineral fuels is one of the key factors that contribute to global warming. An increasing number of Governments or State bodies have already introduced or intend to introduce legislative and regulatory changes as a response to the potential risks that this phenomenon poses.

The Company’s operating margins might be affected by changes which may be made to production facilities of the Company with high greenhouse gas emission levels, as well as to Company facilities with increased requirements in energy, as a result of new regulatory measures primarily in the EU, where the Company is active. The potential impact of the future legislation and of the regulatory framework on climate change, as well as of the European and international conventions and agreements, cannot be estimated with any certainty, given the wide-ranging purposes of these potential changes. In the future, our Company may be forced to make substantial investments due to the need to comply with the revised legislation and the new provisions. Finally, as its management of CO2 emission rights may result in surplus or deficits, the Company in the future may have to recognise significant expenditures or revenues, respectively. On the other hand, given that through the construction of turn-key energy projects (EPC) our activities extend to the broader energy sector, we may also identify additional opportunities there, made possible by any one of the aforementioned changes in the legislation which relate to climate change.