Prysmian Latam, a leading global company in the energy and telecommunications cables and systems sector, has published its inaugural Sustainability Report for its Latin American operations 2023. The company achieved remarkable success in the prior year, experiencing growth across all strategic business units.
Enhancing ESG criteria for suppliers
Regarding the aluminium market, Prysmian Latam, in collaboration with its supply area, is enhancing Environmental, Social, and Corporate Governance (ESG) criteria for its aluminium suppliers. This initiative aims to ensure the traceability and responsible sourcing of materials.
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The company is also committed to increasing the use of recycled aluminium in its products, aligning with global sustainability guidelines. Additionally, Prysmian Latam is developing innovative aluminium wire and cable solutions, such as cables for wind towers, which support the expansion of renewable energy.
Regarding CO2 emissions reduction, Prysmian Latam achieved an 8 per cent reduction in Scopes 1 and 2 emissions compared to 2022, along with a 3 per cent decrease in emissions from its factories throughout Latin America through LED lamps. Additionally, the company has implemented the "Zero Waste Landfill" program, targeting eliminating landfill waste. As a result, waste disposal was reduced from 32 per cent to 21 per cent in 2023.
"We are proud to launch the first sustainability report dedicated to our operations in Latin America. This document reflects our commitment to social, environmental and corporate governance, as well as our role in the planet's energy and digital transition. We will continue to invest in renewable energy projects, green products and carbon emissions reduction for a more sustainable future," said Raul Gil Boronat, CEO of Prysmian in Latin America.
Prysmian Latam's ambitious goal
Prysmian Latam has set an ambitious profitability target of R$1.49 billion to R$2 billion by 2027, reinforcing its dedication to the energy transition and digital transformation. The company has expanded its production capacity by modernizing factories and production centres across Latin America to support this goal.
In its commitment to sustainability, Prysmian Latam has achieved 100 per cent green electricity usage in its operational units in Chile, Colombia, Brazil, and Mexico. The company has also surpassed the US$10 million mark in cost reduction. Further solidifying its sustainability vision, Prysmian Latam has established the Latam Sustainability Committee to integrate ESG practices at all levels of the organization.
Prysmian Latam has also distinguished itself through its social initiatives. The Latam Volunteer Committee conducted 35 projects, totalling 100 hours of activities. Notable programs include "Elas en Industria," which aims to increase female workforce participation, and the "Energizando Futuro" project, providing educational opportunities to young people from peripheral communities in Colombia.
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