Romania has committed to reducing net carbon emissions from agriculture by 51% compared to 1990 by 2050, according to the long-term strategy for reducing greenhouse gas emissions of Romania, carried out by the Government. Also, 5% of the energy requirement in agriculture will be provided by the manure transformed into biogas.
Building owners in Romania are much more interested in ESG standards and also have higher expectations when it comes to sustainability than their counterparts in other countries, according to a survey by CBRE.
Changing the heating system and replacing doors and windows can reduce the carbon emissions of a single-family home by more than 80 percent, according to a CO2-Optimist study by the Swiss research institute EMPA for E.ON. It shows that poor insulation and outdated heating systems lead to above-average energy consumption and higher costs.
L'Oreal invests in a biotechnology company to develop plant-based ingredients on a large scale. The investment will contribute to the creation of new sustainable ingredients derived from living organisms. L'Oréal will replace traditional ingredients with organic alternatives, such as those obtained from sugars of vegetable origin.
OMV Petrom aims to reduce the carbon emissions from its own operations by 30% by 2030, compared to 2019 and the company's ambition for 2050 is to reach carbon neutrality from its own operations, says Christina Verchere, CEO of OMV Petrom.
Drugmaker Zentiva announces its commitment to plant 1 million trees by 2030. The company has reduced its CO2 emissions by 10% in 2022, following a 16% reduction in 2021.
DS Smith plans to build a photovoltaic park at the Zărneşti paper factory. The park would be ready in 2024, it would require an investment of €16 million and would generate approximately 19 MWh per year.
Europe is looking for the magic solution for decarbonization, simultaneously with ensuring energy security, although the year started with a strong feeling of optimism for the energy sector at the global level, says Radu Puiu, Financial Analyst at the brokerage house on international exchanges XTB Romania. Amid recent negative factors, many countries have had to resort to fossil fuels and delay the transition to green energy.
In the last three months of last year, over 29,000 tons of carbon dioxide emissions were reduced in Romania, through the packaging recycling activity generated by approximately 700 companies, according to Clean Recycle data. In 2021, Romania recorded a quantity of 79 million tons of carbon emissions from all industries, increasing by 5 million tons compared to 2020.
Green Environment Support, one of the biggest players in the Romanian market of environmental consultancy services, reports RON 2.5 million (€500,000) worth of business in 2022, with an 18% increase as compared to 2021.
ALD, a subsidiary of Societe Generale, takes a $400 million loan from IFC to expand its fleet of ”green” vehicles with the potential to reduce carbon emissions by up to 22,180 tons per year by 2026 in emerging markets, including in Romania.
Microsoft has achieved its goal of matching 100% of its annual global electricity consumption with renewable energy, reaching the milestone five years ahead of its 2025 target. The achievement supports the company's commitment to become carbon negative by 2030.
The recent weakening of the CSRD may have some real estate developers cheering the compliance rollbacks, but the consequences could be complicated. A new research survey examines how EU real estate firms are navigating changes to the CSRD, and what that could mean for upcoming SFDR revisions.
Waldevar Energy has begun construction on two utility-scale photovoltaic parks for Doral Energy in Tudor Vladimirescu (Brăila County) and Ștefan Vodă (Călărași County), Romania. The projects will deliver 14 MWp of installed capacity using around 25,000 photovoltaic panels.
Lidl Romania has published its eighth sustainability report for the 2024 financial year, announcing accelerated progress in reducing environmental impact. The retailer has achieved its international 2030 target for transitioning to natural refrigerants, with these now used in 100% of logistics centres and 81.7% of stores, compared to the original goal of 100% of logistics centres and 40% of stores. The company has also increased its green energy usage to 80% of total consumption.
The European Union has reached a provisional agreement to reduce the scope and stringency of two major ESG regulatory frameworks: Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD).
