Universal Registration Document 2020

5. The Group’s financial performance and outlook

Hydrological conditions in France in 2020 and 2019*

* Weekly monitoring of French reservoir levels by the EDF group’s statistical observatory (Miréor project) as far as the coast.

5.1.3 Significant events

5.1.3.1 Major events

This section reports significant events since the publication, on 13 March 2020, of the 2019 Universal Registration Document (see chapter 5.1.3 “Significant events of 2019” and 5.2 “Subsequent events”).

5.1.3.1.1 Sustainable development and Group Renewables
  • At the General Shareholders’ Meeting of 7 May 2020, the Company’s raison d’être was adopted for inclusion in the articles of association. It reads as follows:
    “To build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive wellbeing and economic development”.
  • Reinforcement of climate-related governance: the EDF group appointed“ Climate point persons” in its Executive Committee and Board of Directors (see the press release of 10 December 2020):
  • the Group Senior Executive Vice-President in charge of Innovation, Corporate Social Responsibility and Strategy, Alexandre Perra, is the Climate point person in the Group Executive Committee. In this capacity, he presents the Group’s net zero-carbon ambition to the Board’s Corporate Social Responsibility Committee and the Board itself;
  • the Chairwoman of the Corporate Social Responsibility Committee,
    Claire Pedini, is the Climate point person in the Board of Directors. In this capacity and in liaison with the Chairman of the Board of Directors and the Executive Committee’s Climate point person, she ensures that the Board identifies all impacts of climate change for the Group and that the work undertaken by the Board and the strategy it defines incorporate climate change considerations.
  • The Group also adopted:
  • an objective of carbon neutrality by 2050;
  • a higher CO2 emission reduction target, aiming to cut direct and indirect emissions by the Group (scopes 1 and 2) by 40-50% between 2017 and 2030 and scope 3 emissions by 28% between 2019 and 2030 (see the press release of 10 December 2020);
  • an exit target for coal-fired electricity generation by 2030 in all geographical (see the press release of 14 May 2020).