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Home › Dodgy Deals ›
Dodgy Deal
CEZ GroupCzech Republic

Company – On record

This profile is no longer actively maintained, with the information now possibly out of date
Lead organisation:
BankTrack
Last update: 2019-08-30 12:04:04
CEZ headquarters in Prague, Czech Republic. Photo: Google Earth/Streetview

Company – On record

This profile is no longer actively maintained, with the information now possibly out of date
Lead organisation:
BankTrack
Last update: 2019-08-30 12:04:04
Why this profile?

Why this profile?

CEZ Group ranks fourth in the top ten of most toxic coal companies in Europe. The company's coal power plants are responsible for numerous negative effects on human health, causing premature deaths, and also contribute heavily to climate change.

About
Sectors Coal Electric Power Generation, Coal Mining, Nuclear Electric Power Generation
Headquarters
Ownership
listed on Prague Stock Exchange & Warsaw Stock Exchange

The Czech government is CEZ's largest shareholder (70%). CEZ's complete shareholder structure can be accessed here.

Subsidiaries
Website http://www.cez.cz

CEZ Group is a conglomerate comprised of 179 companies. It is involved in electricity generation, trade, distribution and heat, as well as coal mining. CEZ Group operates in Central and Southeastern Europe, and is headquartered in Czech Republic. CEZ Group is responsible for approximately 75% of the total energy generated in Czech Republic. In 2018, the company's coal-fired power plants in operation had a total installed capacity of 6,792MW.

Impacts

Social and human rights impacts

In 2018, a report initiated by the Europe Beyond Coal campaign, found that CEZ Group ranks fourth in the top ten of the most toxic coal companies in Europe. CEZ Group was found to be responsible for 730 premature deaths in 2016. The company was also found to be responsible for 13,000 asthma symptom days in children, 330 chronic bronchitis in adults and 590 hospital admissions due to respiratory or cardiovascular symptoms.

Nearly all health impacts caused by CEZ Group come from burning lignite in the Czech Republic. Air pollution from its plants spreads a toxic cloud across the region as well as the city of Prague. The company's most damaging plant is Počerady, which is located near the city centres of Prague and Dresden.


Environmental and climate impacts

Being one of the most toxic coal companies in Europe, CEZ Group's air pollution also negatively affects the climate. According to the Fool's Gold report, CEZ Group has emitted 26.8 megatonnes of CO2 in 2018. Through its emissions, the company directly contributes to climate change.

The coal-fired power plants operated by CEZ Group also use enormous amounts of water. As was found by Greenpeace in 2016, "a 500 MW coal-fired power plant can withdraw enough water to suck dry an Olympic-sized swimming pool roughly every three minutes".

Financiers

Several financial institutions have financed CEZ Group through corporate loans, shares and bonds underwriting and owning shares. See below for a specified overview.

Institution type
Finance type
Year
Projects
There are no active project profiles for CEZ Group now.

Cernavoda nuclear power plant (units 3 & 4)

Romania
Project
On record
Nuclear Electric Power Generation

Cernavoda nuclear power plant (units 3 & 4)

Romania

Temelin nuclear power plant (units 3 & 4)

Czech Republic
Project
On record
Nuclear Electric Power Generation

Temelin nuclear power plant (units 3 & 4)

Czech Republic
News
BankTrack
Partners
Blog
External
BankTrack news BankTrack blog Partner news Partner blog

CEZ announced plan to slash coal by 2030, ahead of Czech government coal exit vote

2021-05-20 | Europe Beyond Coal
BankTrack news BankTrack blog Partner news Partner blog

European utilities at risk from Credit Agricole’s new 2030 coal exit stance

2019-06-07 | IEEFA
Blog
BankTrack news BankTrack blog Partner news Partner blog

Fool’s Gold – €16bn for Europe’s biggest climate polluters

2019-05-21 | Berlin | Europe Beyond Coal
Blog
BankTrack news BankTrack blog Partner news Partner blog

Financial institutions’ tightening coal policies pressure utilities to change

2019-02-26 | Kaarina Kolle – Europe Beyond Coal
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report: Three years after the Paris climate summit, French banks are financing more coal

2018-11-26 | Paris, France | Les Amis de la Terre
BankTrack news BankTrack blog Partner news Partner blog

Carbon sleight of hand continues at Czech coal giant

2018-11-12 | CEE BankWatch Network
BankTrack news BankTrack blog Partner news Partner blog

RWE and CEZ worst prepared for move to low-carbon economy

2017-04-03 | Financial Times
BankTrack news BankTrack blog Partner news Partner blog

ČEZ Pledges to Greatly Reduce Its Carbon Footprint

2015-12-08 | CEZ Group
BankTrack news BankTrack blog Partner news Partner blog

CEZ delays signing tender contract for Temelin NPP (Czech Rep.)

2013-07-25 | Enerdata
Blog
BankTrack news BankTrack blog Partner news Partner blog

Cernavoda nuclear reactor too dangerous to build, says new report

Greenpeace calls on Romanian government to shelve the project
2009-03-10 | Bucharest | Greenpeace International
Resources
Documents
Links
2020-07-15 00:00:00

Fool's Gold

The financial institutions risking our renewable energy future with coal
BankTrack publication
2020-07-15 00:00:00 | Europe Beyond Coal, BankTrack, BlackRock’s Big Problem, Ember, Fundacja "Rozwój TAK - Odkrywki NIE”, Friends of the Earth Finland, Friends of the Earth France, Greenpeace, Reclaim Finance, Re:Common, ShareAction, Urgewald, 350 Japan
2019-08-29 00:00:00

Safety and Environmental Protection Policy

Date listed represents date as accessed on website
Bank policy
2019-08-29 00:00:00 | CEZ Group
2019-08-29 00:00:00

Monitoring and assessment of environmental impacts

Date listed represents date as accessed on website
Bank policy
2019-08-29 00:00:00 | CEZ Group
2019-08-29 00:00:00

Environmental Protection Management

Date listed represents date as accessed on website
Bank policy
2019-08-29 00:00:00 | CEZ Group
2019-05-21 00:00:00

Fool's Gold

The financial institutions bankrolling Europe’s most coal-dependent utilities
NGO document
2019-05-21 00:00:00 | Europe Beyond Coal
2017-12-31 00:00:00

Strategic Framework Czech Republic 2030

Other document
2017-12-31 00:00:00 | Office of the Government of the Czech Republic, Department of Sustainable Development
2018-12-31 00:00:00

Group Sustainability Report 2018

Annual report
2018-12-31 00:00:00 | CEZ Group
2017-12-31 00:00:00

Annual Report 2017

Annual report
2017-12-31 00:00:00 | CEZ Group
2016-12-31 00:00:00

Annual Report 2016

Annual report
2016-12-31 00:00:00 | CEZ Group
2015-12-31 00:00:00

Annual Report 2015

Annual report
2015-12-31 00:00:00 | CEZ Group
2014-12-31 00:00:00

Annual Report 2014

Annual report
2014-12-31 00:00:00 | CEZ Group
2013-12-31 00:00:00

Annual Report 2013

Annual report
2013-12-31 00:00:00 | CEZ Group
2018-04-18 00:00:00

Annual Report 2018

Annual report
2018-04-18 00:00:00 | CEZ Group
2018-11-20 00:00:00

Last Gasp - The coal companies making Europe sick

NGO document
2018-11-20 00:00:00 | Climate Action Network Europe
2012-12-31 00:00:00

Annual Report 2012

Annual report
2012-12-31 00:00:00 | CEZ Group

CEZ Environmental page

Map of Cez's power plants

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