Sustainable Development

Kozani, Florina and the Municipality of Megalopolis in Arcadia, belong to the EU regions with the greatest dependence on fossil fuels. These areas face the consequences of the multi-year and one-sided focus on lignite activity, in contrast and to the detriment of all others, but also the inaction of previous years in preparing a new, balanced and sustainable development model.

It is worth noting that the Greek Government is committed to the withdrawal of lignite plants by 2028, in a coordinated and responsible manner, making it a top priority to secure jobs and utilize the know-how of human resources in these areas.

For a just development transition of the lignite regions of Western Macedonia and Megalopolis, the Government set three political priorities – axes:

• safeguarding employment, securing jobs and creating new ones,
• offsetting the socio-economic effects of de-lignification by maintaining and strengthening the social fabric; and
• ensuring the energy self-sufficiency of the transition areas and the country in general, while developing the local economy.

Taking into consideration all of the axes above, it was decided to draw up a comprehensive, ambitious, yet realistic Just Transition Development Plan (JTDP), as a roadmap for the restructuring of the productive model of the transition areas, while capitalizing on the diverse comparative advantages with which these areas are endowed and all available sources of funding (national, European and private). The implementation of the plan will make Greece a pioneer in Europe and an international example of best practice for equitable transition and economic development.

The “Just Transition Development Plan of lignite areas” is based on five development pillars, as follows: Clean energy, Industry and trade, Smart agricultural production, Sustainable tourism, Technology and education. It includes enhanced investment incentives to attract investments, as well as specific land uses for the tens of thousands of acres of land of lignite fields being released.

The total amount of funding, including the necessary leverage of private resources, is estimated to exceed 5 billion euros, from EU and national resources, with the main vehicle being the new independent Operational Program for the Just Transition of the new NSRF 2021-2027.

As the state agency dedicated to attracting foreign direct investment and promoting exports, Enterprise Greece aligns with the Greek government’s Green Deal and just transition strategies by prioritizing environmental protection, biodiversity conservation, and social value creation. Committed to a sustainable approach, Enterprise Greece integrates ESG (Environmental, Social, and Governance) principles into all its activities. This dedication is evident in the criteria applied to evaluate new investment projects, business plans, and export initiatives.

Enterprise Greece and its Sustainability Strategy

Enterprise Greece operates on three key levels:

1. ESG Inclusion: We incorporate ESG criteria into all day-to-day operations, ensuring sustainability throughout our activities.
2. Transform Corporate Mindset and Export Policy: We promote sustainability principles among our employees, encouraging them to incorporate ESG criteria into their tasks and responsibilities.
3. Create Positive Impact: We ensure that ESG criteria are embedded in all business projects submitted under the strategic investment law, creating a foundation for a more sustainable future.

Enterprise Greece and ESG in Various Sectors:

• Renewable Energy Sources and Waste Management: Since 2007, Enterprise Greece has prioritized these sectors, recognizing their essential role in a sustainable and resilient economy.
• Emerging Sectors: Enterprise Greece also supports high-potential sectors of economic and sustainable interest, including Tourism, IT, Agri-business, and Real Estate. Many companies, particularly Real Estate Investment Companies, are developing sustainable, smart buildings that benefit both the environment and local communities.
• Evaluating New Business Projects: Enterprise Greece considers all new environmental and spatial regulations in evaluating mature investment projects and recommends legislative amendments to the government. For investment projects approved under the “Spatial Planning Tool,” an annual sustainability report based on international standards (such as GRI Sustainability Reporting Standards) is required.
• Synergies with Foreign Institutions and Organizations: Enterprise Greece collaborates with associations such as the Hellenic Federation of Enterprises (SEV) and Eurobank, co-organizing training seminars and workshops to educate the local business community on ESG principles. As of September 2024, Enterprise Greece is a member of the CSR Hellas Network, reinforcing its commitment to sustainable development. Furthermore, Enterprise Greece actively participates in international associations like ANIMA Investment Network and the World Association of Investment Promotion Agencies (WAIPA), contributing to the global effort for a sustainable future.

Enterprise Greece is dedicated to serving as a catalyst for the Greek economy by embedding ESG principles throughout its mandate. Through strategic partnerships, Enterprise Greece actively promotes exports and investments, driving economic growth in Greece while upholding a strong commitment to environmental stewardship and community well-being.