Gren has released its 2024 Environmental, Social, and Governance (ESG) Report, spotlighting its firm commitment to climate action and the green transition across Northern Europe and the UK. The report highlights how Gren is scaling clean energy, cutting emissions, and investing in sustainable infrastructure to support a low-carbon future.

“2024 was a year of meaningful progress for Gren. We pursued strategic investments and enhanced our efficiency, improving communities’ access to affordable renewable energy across the Baltics and the UK. By optimizing our asset base and building engaged teams, we have connected more customers to affordable, reliable, decarbonized energy,” said Ilkka Niiranen, CEO of Gren

Key highlights from the 2024 report:

• 22.4% reduction in greenhouse gas emissions from the updated baseline;
• 95% of energy generated from renewable or waste fuels;
• Gren continued its growth journey in 2024, enhancing its energy infrastructure and customer reach, including:
  • Acquired a 50% share in the South Clyde Energy Centre in Glasgow. Once operational, this facility will provide clean energy to a city with over 600,000 residents.
  • Completed the acquisition and integration of a new biomass-based Combined Heat and Power (CHP) plant in Riga, doubling Gren’s biomass-based production in the Latvian capital’s network.
  • Achieved further growth in Estonia with the acquisition of a district heating production and distribution company in Viljandi, strengthening Gren’s presence in the region.
• Employee engagement index of 81, reflecting a strong, purpose-driven culture across regions;
• Safety Index of 98.24, reinforcing Gren’s proactive approach to workplace safety and operational integrity.

Gren’s ESG framework is transitionally aligning with EU Taxonomy and CSRD standards, integrating decarbonization, clean production, biodiversity and other relevant topics from our Double Materiality Assessment, conducted in 2024.

Gren’s annual employee engagement surveys confirmed that employees at Gren remain highly engaged and continue to enjoy working for the company. The company’s deep commitment to the green transition motivates employees who share its purpose and recognize the importance of their work for the future of the planet.

Gren continued to expand its stakeholder engagement and advocacy to promote sustainable energy sources and strengthened governance practices related to cybersecurity initiatives.

Looking ahead, Gren aims to halve its emissions by 2035, achieve 100% sustainably sourced biomass fuels by 2025, and continue innovating in low-carbon energy systems for homes, industries, and cities.