Czech conglomerate CEZ Group pledges carbon neutrality by 2040.

CEZ Group, a large conglomerate from the Czech Republic with business interests in electricity generation and distribution, sale of gas and related energy services among other industries, has announced that it is aiming for carbon neutrality by 2040. To that effect, the company has signed a memorandum of cooperation with the Czech environment ministry aimed at decarbonising the Czech economy. The company’s new 2040 target prepones its earlier deadline of 2050. The statement from the company also says that it will deploy 6,000 MW in renewable sources by 2030. The statement from CEZ says “According to the memorandum, the main recipes are – aside from massive support for the development of renewable sources – long-term and stable support for the operation and further development of nuclear energy, including small modular reactors. There is a strong social aspect to the process, which is why it is necessary to regularly take opportunities to improve the living conditions in those regions that await structural transformation, due to the phasing out of the coal industry”.