Audax 2021? Always energy for sustainability. Now also in the name
by Francesco Calabretta - Cluster Lead Hungary & Italy
Among the many days that now crowd the calendar, May 15th seems to be dedicated to World Climate Change. I say "apparently" because I discovered its existence since I split my professional time between the Italian and Hungarian offices of Audax Energia. In fact, it is precisely in the latter country that the initiative finds a certain resonance, considering that the rest of the world celebrated Earth Day only a few weeks earlier, on April 22nd.
Whether more or less global, these opportunities are designed for keep attention alive and remind us of the catastrophic consequences we face if we do not act promptly.
An issue that after years of uncertainties and contradictory opinions seems to have finally entered the agendas of governments and supranational organizations, with measurable repercussions and not only on the basis of multilateral agreements, which are often disregarded. I am referring, for example, to the European Union and the concrete initiatives it is building such as the Green Deal, the Green Taxonomy and, last but not least, the huge resources of the now well-known Recovery Fund of which a significant part is dedicated to projects linked to sustainability and the mitigation of the effects of climate change.
Global finance itself is increasingly directing its investment choices towards companies that have environmental sustainability as a strategic pillar of their action. Already at the beginning of 2020, I was struck by how this awareness, which in itself was quite recent, already appeared to be well rooted. In particular, according to the opinions of over 700 analysts and protagonists of the world economy interviewed by the Global Risk Report 2020 it emerged that the first five positions of greatest risk were occupied precisely by events attributable to the environment and to climate change. In the 2021 report the environment still occupies 4 positions; a fifth - as can be imagined - concerns the spread of diseases.
Another significant data comes from “green bonds” of companies operating in sectors linked to sustainability. According to Bloomberg New Energy Finance (data referring to 2019), 465 billion dollars of sustainable debt was issued worldwide, with an increase of 78% compared to the previous year. In this context, Audax Renovables was a clear example with 315 million euros of "green" and convertible bonds issued in 2020 alone.
And there'power – as is known – it is among those responsible for the current situation and therefore also the main positive protagonist of a "green revolution". Only with an intervention on energy sources, abandoning fossil ones to move towards them carbon neutral it is possible to modify the existing and mitigate its negative effects. Otherwise it will be difficult to reverse course. Some recent data fromInternational Energy Agency (IEA), tell us that CO emissions2 related to energy will grow by almost 5%, reaching 33 billion tonnes. An increase on which the weight of coal is felt, whose demand is expected to rise by 4.5%.
However, these data are not very comforting others definitely better. In 2021 it is expected that renewable sources will contribute to the 30% of global electricity production, even better than the already flattering 27% of 2019.
Numbers that give meaning to our work and at our beliefs: provide energy that is completely carbon neutral and coming from FER. And this is thanks to agreements with those who produce this energy (through innovative contractual forms such as PPAs), but also and above all, thanks to direct investment in wind and photovoltaic parks scattered across Europe and beyond. Because this is the main objective towards which we continue to strive both at the Group level and at the individual level of the 8 countries in which Audax is present.
I come, therefore, to clarify the meaning of the title of this speech of mine. The 100% of "green" energy supplied today finally finds a complete expression: Audax loses "Energy" to become Audax Renewables. In Italy as in other markets, with the sole exception of Spain, where it maintains the name of Audax Renovables; different idioms that nevertheless mean the same commitment.
Because the time has come align brands-mission-values. Or if you prefer to finally make "what we call ourselves", what we "are" and what "we believe in" coincide. With renewable and sustainable energy as the common denominator.
