Climate protection commitment continued
Hungarian Gas Storage has consistently continued to trace the path towards more climate protection it embarked on last year. After 2020, the company is a “Climate Neutral Company” for the second time in a row this year. As part of its strategy for greater climate efficiency in its business operations, Hungary’s largest commercial natural gas storage provider has taken important steps to reduce its carbon footprint. Since last year, the company has been purchasing electricity exclusively from renewable sources to cover its own demand. In addition, Hungarian Gas Storage offsets remaining emissions from its business operations by supporting a certified international climate protection project. The company also supports a forest protection initiative in Hungary.
“For us, the long-term nature of our commitment plays an important role,” emphasizes Àkos Kriston, CEO. “That's why we announced last year that we would continue tracing our path to greater climate efficiency. We are proud to have consistently implemented this announcement with receiving the status as a ‘Climate Neutral Company 2021’.”
As part of its climate and environmental protection strategy, Hungarian Gas Storage has already taken numerous important steps to minimize its own environmental footprint. For example, the company already has a green office program for reduced waste and water consumption, and increased energy efficiency in place. As of 2020, the company has also switched their electric power consumption to 100% renewable energy. The support for various climate protection initiatives also plays an important role in Hungarian Gas Storage’s climate protection strategy: to offset unavoidable emissions, the company supports a certified climate protection project in India by purchasing carbon reduction certificates. Moreover, it supports a forest protection project in Hungary and thus also promotes climate and environmental protection at a local level.
Carbon compensation: offsetting unavoidable emissions
To compensate for the unavoidable emissions that are still caused by business operations despite all implemented efficiency measures, Hungarian Gas Storage uses the carbon compensation procedure. This mechanism, which is rooted in the Kyoto Protocol, has firmly established itself and has proven its worth over the past 20 years as a central component of voluntary, non-state regulated climate protection. “Through carbon offsetting, Hungarian Gas Storage compensates for their unavoidable emissions by enabling additional emission reduction in another place,” explains Júlia Lobenwein, carbon expert at First Climate. “The necessary emission reductions are achieved through a certified emissions reductions project that is supported by the company.”
Supporting international climate protection and local forest conservation
This project is a hydropower project for renewable energy generation in the state of Himachal radish in the Himalayas. The project is certified by the reputable and internationally recognized Verified Carbon Standard. The emission reductions achieved are regularly checked and verified by third-party auditors. Without the revenue support provided by carbon offsetting, this project would not be financially viable and therefore would not have been implemented.
In addition to their carbon offsetting program, Hungarian Gas Storage Ltd has also chosen to support an environmental protection and afforestation initiative in Hungary:
ERDŐMENTŐK ALAPÍTVÁNY initiative organizes and supervises nature conservation operations, which are carried out by volunteers. The association puts a special focus on involving children from difficult social backgrounds and children with disabilities in their work. Due to this project, tens of thousands of new trees are planted in Hungary every year.