The Management Board of KGHM Polska Miedź S.A. (“Company”, “KGHM”) announces, in reference to regulatory filing no. 45/2021 dated 16 November 2021, that today it adopted a resolution on the adoption of updated wording of the “Climate Policy of KGHM Polska Miedź S.A.” (“Climate Policy”).
In the first edition of the Climate Policy, the Company committed to publicly disclose the reduction targets for the entire KGHM Group no later than in the first half of 2023.
Due to the highly volatile situation on the energy markets, the unforeseeable global economic situation and the overall impact of Russia’s aggression on Ukraine on the international situation, it is necessary to change the date of preparation of the entire Decarbonization Program of the KGHM Group and subsequently the climate targets for the KGHM Group. The aforementioned factors make it significantly more difficult to model CAPEX and OPEX, and as a result also NPV for the decarbonization initiatives of the Group.
As a result of the above, it is necessary to change the date of setting the climate targets for the KGHM Group from the first half of 2023 to the end of 2024.
Legal basis: Art. 17 (1) of MAR (Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union dated 12 June 2014, no. L 173/1).