PKN Orlen estimates that it will have to spend about $6.6 billion on its transformation toward climate neutrality. Invest plans mainly in green energy projects.
State-owned concern PKN Orlen announced its plans to cut carbon dioxide emissions at its petrochemical operations by twenty per cent and for electricity generation by a third within the next ten years. “The global energy transformation is already happening right before our eyes and is a huge opportunity for the whole of Central Europe. As the largest company in the region, we want to increase our involvement in this process and manage it well,” stated PKN Orlen Managing Director Daniel Obajtek.
PKN Orlen management wants to introduce a detailed strategy for its ambitious plan during the final quarter of this year. To some extent, the setting of said goal by PKN Orlen is surprising to paradoxical. Indeed, Poland is the only member country in the European Union to have rejected a union commitment to becoming a carbon-neutral economy by the middle of this century. The Polish energy group has thus joined other European energy companies that have already decided to work on carbon neutrality.