“It is necessary to create technological processes that respect nature’s ecosystems and integrate its cycles”. In this interview Letizia Magaldi, Executive Vice-President Corporate Development & Global Marketing of Magaldi Green Energy, explains the ESG philosophy of the Company: "Our scientific efforts and technologies must aim to replicate the intelligence of the environment and integrate with it".
Letizia Magaldi then focuses on the theme of equal opportunities, a central theme when it comes to sustainability and progress: “A diversity of gender, but also of cultures, provides a broader vision of strategic development and a greater understanding of social and market needs".
And then again: the strategic partners of MGE towards an increasing internationalization, the importance of Research and Innovation "fulcrum from which to start", the presentation of MGTES at the Dubai Wetex Fair "industrial, political and institutional global showcase".
1. As a Group, it has always operated with an approach based on environmental, social and governance (ESG) issues. In particular, what is the ESG philosophy of Magaldi Green Energy?
We believe that new paradigms are necessary, the advanced scientific skills of our researchers must urgently be put at the service of nature and its life cycles. It’s necessary to create technological processes that respect its ecosystems and integrate its cycles. Nature has its balance, its circularity, it regenerates itself in an infinite and evolutionary cycle. Our scientific efforts and our technologies must aim to replicate the intelligence of the environment and integrate with it. Hence, for example, the birth of our innovative MGTES thermal energy storage system, one of the most advanced on the global market, which uses a fluidized sand bed (Energy from the sand).
In addition to the purely environmental aspects, we also follow the ESG principles for social and governance aspects. We implement inclusive policies in work environments and we are attentive to the supply chain (we use compatible materials that are available worldwide, low cost and 100% recyclable), to the safety conditions in the workplace and to the respect for human rights. With regard to Governance the transparency of corporate governance and, more generally, the behaviour of top management and of the Company in terms of ethics and compliance is central.
The dictates of the European Union on the circular economy set out the road that must absolutely be followed. The central goal of the Paris Agreement is to strengthen the global response to the threat of climate change by trying to limit within 2 degrees centigrade - better if 1.5 - the average increase in temperatures by the end of the century compared to pre-industrial levels (1880). To do so, the scientific community has indicated that it is necessary to achieve zero emissions by 2050.
However, the IPPC warned that only if the target of zero net C02 emissions by 2050 is reached, is it "extremely likely" that global warming can remain below 2 degrees centigrade. In this context, the Global Risks Report 2021 published by the World Economic Forum highlights that in the last 10 years a greater sensitivity to ESG risks has developed, today, the first five "Tops Global Risk" are attributable to environmental or social phenomena.
2. How important is the role of women for the Governance and for the strategy of companies with a high technical profile and committed to sustainability? Can you tell us about your experience?
There is progress if you are aiming at mixed groups and leadership. A diversity of gender, but also of cultures, ensures a broader vision of strategic development and a greater understanding of social and market needs.
Progress also goes through full inclusiveness and equal opportunities. We always repeat that progress must necessarily take account of climate change challenges and that societies must implement the energy transition. We should also repeat more often that progress must take account of the challenges of equal opportunities and that the only possible "transition" is towards a more inclusive model.
Moreover, the UN Agenda 2030 for "sustainable development" sets the achievement of social, economic and political equality for women at the fifth place among its goals. Using eco-friendly materials available in each country means guaranteeing equal access to technologies and commodity.
3. The team of Magaldi Green Energy collaborates with prestigious Research Institutes and Universities, precisely to constantly improve their technologies. Which ones do you have a stronger partnership with?
For us, research and innovation are the fulcrum from which to start from. There is no progress without intense and constant research work. Based on this we work intensively every day to ensure the best performance to our green technologies and design new eco-sustainable projects always more and more avant-garde.
However, synergies are essential and we therefore work with relevant public research bodies. In Italy, the main partners are the University of Naples "Federico II", and the University La Sapienza in Rome, the National Research Council, the University of Adelaide and the Fraunhofer Institute. We are also part of the Consortium that works on the project coordinated by Enea, SOLARGRID (Thermodynamic and photovoltaic solar systems with storage for co-generation and grid flexibility).
A project that aims at innovation and upgrade of the components and systems connected to Concentrating Solar Power (CSP) and Concentrating Photovoltaic (CPV) technologies, with the general aim to improve their energy performance, economic competitiveness and in order to integrate into advanced energy management networks. Magaldi Green Energy strongly believes that innovation is built by working together with partners in the energy and financial value chain.
This is why we are launching the Thermal Energy Storage alliance: a platform to pool skills, experiences, business cases and technology roadmaps to accelerate the industry-wide deployment of best-in-class energy storage technologies and facilitate the development of sustainable applications in every industrial field.
4. Among the strategic partners for the Company’s internationalization there is also the Export and Internationalization Hub, Sace/Simest. How did it support the growth of the Company?
Sace/Simest is for us a fundamental support for our projects that we develop all over the world, allowing us to meet our vocation to internationalization. They have supported us in innovation, competitiveness and with the expansion of new strategic markets, through financing for internationalisation, support for export credit and participation in corporate capital.
They have supported us in opening offices in Australia and the United States, in strengthening the American office and in important orders in Chile, India, Mexico, Mongolia and South Korea. We used the facilitated finance of SIMEST, the financial guarantees for investments and working capital, the buyer credit and the credit provider of SACE and the mobilization of the credits with SACE Fct.
5. The United Arab Emirates are particularly committed to the renewable energy sector and in October the Wetex Fair will be held in Dubai, at which MGE will participate. In particular, what are the news of the Company that you will present?
The challenges of Expo are linked to a new industrial paradigm based on environmental sustainability. A profound transformation in our industry is taking place. We must accelerate this process because, as the UNitself recently warned, "the worst is yet to come and our children and grandchildren will pay the price, rather than ourselves".
Expo will be the world’s industrial, political and institutional showcase. We will show the most advanced green technologies to face the challenge of climate change. On this occasion we will talk about our commitment to the energy transition and sustainable development through investments in innovation and research of new technologies in the field of renewable sources. In particular, we will present our innovative thermal storage system, which uses a fluidized bed of sand, MGTES.
We as a Company increasingly oriented to internationalization could not miss this event. Among other things, in Dubai we are present with Magaldi Green Energy Middle East that allows the company to oversee the markets of the United Arab Emirates (UAE), Saudi Arabia, Oman, Qatar, Kuwait and other countries of the Gulf Cooperation Council (GCC). Precisely in these places we expect that soon a great Green revolution will develop.
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