BREAKING NEWS – 4.07.2024
In the press release of 7 July 2024, Altea Green Power, a company engaged in developing renewable energy plants and integrating services across all stages of green plant creation and management, announced the approval of its Sustainability Report as of December 31, 2023. This report was voluntarily prepared using selected GRI Sustainability Reporting Standards promoted by the Global Reporting Initiative (GRI 2021).
With the publication of the Sustainability Report, Altea Green Power showcases its strong commitment to balancing development and sustainability. The company recognizes that true growth requires solutions that enhance societal well-being and the economic and environmental conditions of the regions where it operates. To this end, Altea has integrated the United Nations 2030 Agenda Sustainable Development Goals (SDGs) into its strategic approach, focusing on eight key objectives:
- Affordable and Clean Energy: Altea aims to ensure universal access to reliable, modern, and affordable energy services, and to increase the share of renewable energy in the global energy mix. The company seeks to strengthen international cooperation to facilitate access to clean energy technology and research, and to update infrastructure to enhance service delivery;
- Sustainable Cities and Communities: Altea is committed to reducing the per capita environmental impact of cities, particularly regarding air quality and waste management;
- Climate Action: The company is focused on enhancing resilience and adaptive capacity to climate-related risks and natural disasters;
- Responsible Consumption and Production: Altea supports the sustainable management and efficient use of natural resources;
- Decent Work and Economic Growth: Altea strives to achieve higher levels of economic productivity through diversification, technological upgrading, and innovation, with a focus on high value-added and labor-intensive sectors;
- Industry, Innovation, and Infrastructure: The company aims to boost scientific research and industrial technological capabilities globally, especially in developing countries, significantly increasing the workforce and public and private investment in research and development;
- Quality Education: Altea Green Power aims to significantly increase the number of young people and adults with the technical and professional skills needed for employment, decent jobs, and entrepreneurship;
- Peace, Justice, and Strong Institutions: The company promotes effective, accountable, and transparent institutions at all levels, developing a supply chain policy to enhance responsible governance and combat corruption.
Altea Green Power’s decision to prepare the Sustainability Report underscores the importance it places on transparency and reporting its environmental and social practices. The document aims not only to communicate the results achieved in reducing negative impacts but also to demonstrate the company’s active contribution to the SDGs.
Integrating ESG factors into corporate assessments is crucial for Altea, representing an intrinsic aspect of a robust investment process. The company recognizes that aligning its activities with sustainability goals not only improves its environmental and social impact but also enhances its capacity for exponential growth over time.
In light of this information, while awaiting further updates on business developments and the financial results as of June 30, 2024, we reaffirm our recommendation: target price €14.30, rating BUY, risk MEDIUM.