MET Group allocated 70% of its capital expenditure to green projects, achieving a 72% increase in renewable energy output in 2023. This is one of the conclusions of the Swiss-based company’s inaugural TCFD (Task Force on Climate-related Financial Disclosures) Report 2023. Through its partnership with Keppel Infrastructure, MET supports Singapore’s Green Plan 2030 and enhances LNG supply chain reliability.
Aligned with TCFD recommendations, the report provides an in-depth look at how MET Group identifies, manages, and mitigates climate-related risks, whilst capitalising on opportunities to support Europe’s energy transition.
The company has made significant progress in its sustainability goals: MET Group is heavily invested in green energy, with 403 MW of operating renewable projects in 2023, as well as 646 MW of development and construction stage projects, key to meeting its sustainability targets.
MET Group is dedicated to accelerating the European energy transition. It supports the EU’s plan to transition from coal to gas by 2030 and from gas to renewable energy by 2050, underlining its commitment to a zero-emission future. The company refrains from investing in carbon-intensive assets like coal and prioritises supplying natural gas, LNG, and power to customers. MET provides a clear breakdown of its emissions, including Scopes 1, 2, and 3, in compliance with the GHG (Greenhouse Gas) Protocol.
MET Group’s Presence in Singapore
MET Group is owned 90% by MET employees and 10% by Keppel Infrastructure, a wholly owned subsidiary of Keppel Corporation. In 2023, the integrated energy company strengthened its presence in the Asia-Pacific region with the establishment of MET Asia Pte. Ltd. in Singapore. The subsidiary is also owned 90% by MET Group and 10% by Keppel Infrastructure, benefiting from Keppel’s renowned expertise in energy and infrastructure.
The Singapore-based subsidiary plays a key role in expanding MET Group’s liquefied natural gas (LNG) portfolio while supporting Singapore’s Green Plan 2030 by advancing the nation’s transition toward cleaner, more sustainable energy solutions.
In addition to its work in Asia, MET Group has also partnered with Keppel Infrastructure to form Keppel MET Renewables AG (KMR), a Swiss-based joint venture aimed at driving renewable energy growth in Western Europe.
KMR is an established player in the renewable energy market. Its portfolio includes 277 MWp of early—to mid-stage solar projects across Italy that are expected to achieve commercial operations within the next few years.
The company acquires, develops, operates, and manages high-performance utility-scale solar PV and onshore wind renewable energy assets across Europe. KMR not only supports MET’s renewable expansion goals but also aligns with Keppel’s Vision 2030 objectives for low-carbon energy infrastructure.
Strategic Focus on Green Transition
MET Group’s strategy balances sustainability with energy security and affordability, embracing the energy trilemma. Through continued investment in renewable energy and infrastructure, the company is reducing the carbon intensity of the European grid, while leveraging natural gas as a transitional fuel and maintaining a reliable energy supply. As Singapore’s energy sector works towards decarbonisation, MET’s expertise can serve as a valuable partner to further the nation’s climate goals.
MET Group Chairman and CEO Benjamin Lakatos said: “Achieving a net-zero world should not place an undue burden on society. Our goal is to manage the energy transition efficiently and cost-effectively, ensuring that European consumers and industries benefit from a competitive energy supply without facing escalating costs”.
MET Group CFO Sven Kirch added: “This TCFD Report marks a pivotal moment in our journey as an energy transition company and highlights our commitment to managing climate-related risks while seizing opportunities”.
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