EDP launches a global program to invest more than 300 million euros in social impact projects by 2030
. EDP will focus on the Just Energy Transition through a more focused social investment strategy aligned with its purpose.
. All projects will be framed under a new common identity - EDP Y.E.S. - You Empower Society, a global brand across all countries where EDP invests in social impact initiatives.
. EDP’s ambition is to invest annually more than 30 million euros and a new area will ensure the global strategy and coordination.
. The launch of the 4th edition of the A2E (Access to Energy) fund - which supports clean energy access projects in developing countries - is one of the initiatives to go ahead with doubling the amount of funding in previous editions.
With the main focus on Just Energy Transition, EDP will invest in initiatives to combat energy poverty, promote access to energy and energy efficiency, and implement solutions for access to solar energy or electric mobility. EDP is committed to investing more than 300 million euros by 2030 through a new global social investment program that will develop, promote, and coordinate the different initiatives in this area.
EDP thus demonstrates its commitment to accelerate decarbonization and achieve carbon neutrality, but without leaving anyone behind. These initiatives to promote a just energy transition are expected to represent around 45% of total investment by 2030.
In parallel, EDP maintains access to Culture as a key axis of its social strategy. The group has a long history of investment in this area, which is reflected in its role in assets such as the MAAT, the Tejo Power Station and the Portuguese Language Museum in Brazil, and believes in the importance of culture for the development of societies.
All social projects developed in the group will, from now on, have a new common identity - EDP Y.E.S. - You Empower Society- a global and transversal brand that will allow us to tell an integrated narrative about EDP's various social projects, highlighting their positive impact on society.
The investment, over 30 million euros per year, will be made through different vehicles, such as the foundations in Portugal, Spain and Brazil and the different business units.
"The climate emergency demands ambition, commitment and a collective effort towards a fair and faster energy transition. No one should be left behind and that is why EDP is reinforcing its commitment to a more ambitious social program with greater impact on communities. We want to do it through initiatives to fight energy poverty and ensure access to energy, while promoting education and culture. At EDP, we’ve made it our mission to bring positive change, and I am confident that Y.E.S. is an important contribution to achieving this goal”, says Miguel Stilwell d'Andrade, CEO of EDP.
Strategy with new global coordination
In 2022, the planned actions include the Futuro Ativo Sines (Sines Active Future) program, an example of projects to reconvert thermoelectric power plants into green energy production centers, with support for sustainable entrepreneurship initiatives, training in renewable energies or improving energy conditions for families.
Another of the planned initiatives involves promoting solar solidarity in different countries through the Foundations in Portugal, Spain (with Fundación EDP) and Brazil (with Instituto EDP), which consists of providing photovoltaic panels for energy production to NGO’s, families or more vulnerable groups.
With the new strategy, EDP also assumes the fight against energy poverty and the promotion of energy efficiency in poorest communities as one of its priorities. In Spain, several projects have already been launched in this area, with similar initiatives planned for Portugal this year with an overall investment of more than one million euros. Additionally, EDP has strengthened its partnership with the NGO Just a Change, with which it has collaborated since 2018 in the fight against energy poverty.
In addition to the reinforced investment, a Social Impact Coordination Office (SICO) was set up to maximize the EDP Group's social impact by defining the global strategy and coordinating social projects in the different countries and areas of activity, including volunteer work and partnerships with other entities.
A2E Fund doubles funding for projects in Africa
The focus on projects that promote access to clean energy in developing countries is another commitment that is reinforced by EDP's new social impact strategy. Created in 2018, the A2E Fund (Access to Energy) launches its fourth edition this Tuesday, April 12th, with double the amount of funding: one million euros to support projects in five African countries - Mozambique, Nigeria, Malawi, Angola and Rwanda.
Besides the reinforcement of the global amount, the value to be attributed per selected application is also increased to an amount that can go from 50 thousand to 150 thousand euros. It is a significant change that will allow the development of more robust projects with greater impact on communities, both in the number of organizations supported and in the number of people benefited.
The application phase, that has just started through the EDP website, ends on May 16th, and the results will be announced at the end of the year. In the last three editions, the A2E Fund has allocated 1.5 million euros to 20 projects, generating direct and indirect benefits for more than one million people in seven African countries.
