ANNUAL REPORT 2021

43 Tab. 3: Most Important Direct Environmental Investments at Železiarne Podbrezová (1996 – 2016) Tab. 4: Summary of Investments at Železiarne Podbrezová with an Environmental Impact since 1990 Investment Capital expenditure (EUR) Modernisation of energy facilities, rationalising heat management, reconstruction and thermal insulation of social and administrative buildings and production halls, installation of high-efficiency cogeneration unit Steam from cogeneration unit waste heat is used at ŽP a.s. for technological purposes, heating hot service water and the hot-water heating system for production plants. 10 600 000 Modernisation of five small hydropower plants (SHP) The SHPs produce approx. 26 000 MWh of electric energy annually, thus contributing to the fulfilment of the EU and national goal to increase the share of renewable energy sources. In addition, electricity produced by the SHPs contributes to creating a greener energy mix in Slovakia. 1 700 000 Total Investments 12 300 000 CONCLUSION In December 2020, EU Member State leaders agreed on a new ambitious objective to reduce greenhouse gas emissions by 55% by 2030 (original goal by 40%) compared to 1990. Thanks to numerous investments, ŽP a.s. reduced carbon dioxide emissions by almost 52% compared to 1990, thus coming significantly closer to meeting this ambitious objective. There was also a considerable 58% decrease in carbon dioxide emissions per tonne of produced steel compared to 1990. In 2019, the Low-carbon Growth Study for Slovakia up to 2030 was prepared in cooperation with the World Bank. The study concluded that greenhouse gas emissions in Slovakia have decreased by almost 50% (including removals by sinks) since 1990. However, it should be noted that this decrease was achieved by relatively simple and inexpensive measures. Most cheaper measures have been taken and further emission reduction will require major capital expenditures. Furthermore, the study points out that the most economical and most efficient measure to reduce greenhouse gas emissions is the renovation of buildings. In addition to supporting the thermal insulation of buildings, a subsidy programme for the replacement of obsolete heating sources by low-carbon alternatives, including gas sources, will also continue. ŽP a.s. will strive to meet objectives to reduce carbon dioxide emissions, as shown by the fact that ŽP a.s. has invested almost EUR 69 million from its own funds since 1990 (Table 4). Investment Capital expenditure (EUR) Technological investments with a significant environmental impact (Tab. 2) 56 310 000 Direct environmental investments (Tab. 3) 12 300 000 Total Investments 68 610 000 GREEN STEEL ŽELEZIARNE PODBREZOVÁ A.S. AND ITS MISSION TO UNDERTAKE GREENSTEEL PRODUCTION