JANAF adopts a Development and Transition Strategy 2022–2030 with a 2050 perspective

21.01.2022. 14:55

Zagreb — The Management Board and Supervisory Board of JANAF Plc. have adopted the Development and Transition Strategy for the period from 2022 to 2030 with a 2050 perspective. JANAF is one of the cornerstones of Croatian energy independence, and a key player in the energy markets of the neighbouring countries and the EU. It also stands at the forefront of Croatian transition towards a green and more sustainable economy. Its role is further confirmed by JANAF’s Strategy, which defines key factors in the Company’s future on the national and global levels, as well as its approach to ensuring long-term growth and development, while taking into account the key trends in the energy industry.

Analyses of the Company’s current state of affairs, global, European and regional trends in the energy industry, and the strategies of neighbouring oil companies feed into the Strategy in order to determine the potential for the diversification of JANAF’s operations into low carbon energy activities. A projection of developments in the energy sector indicates a decrease in the use of oil and petroleum products and an increase in renewable energy sources, while the trends in the oil industry and the rapid development of alternative energy technologies support the diversification of operations into renewable energy sources.

The Strategy identifies diversification priorities and ensures a diversity in JANAF’s operations and development with the goal of strengthening the Company, promoting investments in business sustainability and securing JANAF’s long-term position as the leader of transition towards a green and more sustainable economy. Once implemented, the Strategy will ensure continued business stability through existing activities, as well as the generation of new revenues in the field of renewable energy. It defines the main strategic initiatives to help JANAF adapt to current and future market trends, such as entry to renewable energy markets, investing in new technologies, generating higher revenues, implementing a more agile and more efficient organisational structure adapted to the new business model, as well as developing in-house talent and attracting experts from the labour market.

“In view of JANAF's strategic role in Croatia’s energy independence, ensuring long-term sustainability and stability of JANAF’s operations is a strategic project of this Management Board. The green transition is a key element of this project, and while the task is challenging, we are enthusiastic in our approach. We are carefully monitoring the development of EU legislation and the Croatian Government's strategic guidelines on carbon emissions, as well as other regulations on environmental protection. We are confident that we will achieve the relevant goals set by the EU and the Croatian Government and ensure JANAF’s successful transformation into a strong energy company. Renewable energy, new methods of energy storage and other related activities are only a part of JANAF’s future portfolio and our vision for the future of the Company,” says a statement by JANAF’s Management Board, headed by Chairman of the Board Stjepan Adanić, MSc, and Board Member Vladislav Veselica.