EDF's raison d'être: "Building a CO2-neutral energy future, reconciling preservation of the planet, well-being and development, thanks to electricity and innovative solutions and services".
In the face of the climate crisis, the raison d'être of EDF (nearly 84% owned by the French state) places the energy transition at the heart of society's progress towards more efficient, planet-friendly and affordable energy. Reconciling the fight against climate change with the fight against social inequality is central to the corporate project of EDF, a state-owned company and a major player in the public energy service:
"Of all energies, electricity, as a basic necessity, must be accessible to everyone,everywhere.It is also the energy of progress in an increasingly digital world. [...]. With its strong public service values, EDF is committed to a fair, innovative and sustainable energy future."
Guest column by Alexandre Perra (Group Executive Vice President, Innovation, CSR and Strategy)
EDF's raison d'être: "a driving force for the company
In 2019, the PACTE law was freshly adopted when Economy and Finance Minister Bruno Le Maire called on companies in which the state is a shareholder to give themselves a raison d'être.
So it was in the midst of a health crisis that shareholders chose (by 99.99%) to enshrine this raison d'être in the bylaws on May 7, 2020. This raison d'être is part of the broader deployment of the Cap 2030 strategy. It is based on 3 pillars: innovation, low-carbon and international.
Building a CO2-neutral energy future should enable the Group to meet the dual challenge of achieving carbon neutrality for both France and the European Union, while at the same time contributing to the economic recovery.
Here again, our raison d'être is a project of reconciliation: to make our socio-environmental impact an asset for the Group's performance and growth in France and Europe.
Our raison d'être is to build a CO2-neutral energy future that reconciles preservation of the planet, well-being and development through electricity and innovative solutions and services. pic.twitter.com/iqyb0vFn9P
- EDF (@EDFofficiel) June 1, 2020
EDF's raison d'être: the fruit of broad consultation within the Group
This raison d'être is the result of an internal consultation organized from February to September 2019 (prior to the adoption of the PACTE law and the recognition in law of "companies with raison d'être" within the meaning of Article 1835 of the Civil Code). Across the different sites, nearly 4,000 employees helped shape the principles of EDF's identity and future.
While some stakeholders, notably the unions, regretted the absence of any mention of the utility's public service mission, EDF's CEO pointed out that this specificity was nonetheless already enshrined in the company's articles of association.
From EDF's raison d'être to its raison d'agir : renewing assets and financing methods
EDF's ambition for carbon neutrality is reflected in the Group's concrete actions, both in its investment choices and in its energy mix.
EDF has set itself the target of doubling its installed renewable energy capacity from 2014 to 2030, to 50GWe. The company wants these investments to have a positive social impact, as demonstrated by the opening of a participatory financing for the construction of Lux, a photovoltaic power plant in the Côte-d'Or region. This socially responsible fundraising gives local residents the opportunity to invest in the project and become full players.
For Sarah Friedrich, Project Manager at EDF Renouvelables:
"This solar park is the fruit of a co-construction effort between citizens, the region and EDF Renouvelables, and marks the willingness of the communes to commit to renewable energies. A new project that reinforces EDF Renouvelables' objective of sustainably accompanying the region in its energy transition."
The Group's environmental impact is also at the heart of its raison d'être. This is reflected, for example, in the closure of 23 oil- and coal-fired units in France over the 2010-2019 period.
These closures of excessively polluting power plants are often accompanied by new, more innovative projects, as in the UK, where the definitive closure of a power plant in Kent will make way for three new projects valued at 21.8 billion euros.
