Primary Climate Goal
Engie's target annual all Scopes emissions for 2045 should be equal to 0 Kt = 0% * 173,500 Kt, according to the company's stated climate goal.
In order to achieve this goal, Engie would need to reduce its emissions at least by -7,543 Kt per annum over the period from 2023 to 2045:
-7,543 Kt = ( 0 Kt - 173,500 Kt ) / (2045 - 2022)
This translates into a -4.4% reduction in 2023.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
Engie aims to achieve net zero for all Scopes by 2045
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
Engie reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2022 at 29,800 Kt (-6,000 /-16.8% y-o-y). Also positively, carbon intensity decreased to 301 t (-221 /-42.3% y-o-y).
Engie's Scope 3 emissions rose to 143,700 Kt (
The company is committed to achieving net zero for all Scopes by 2045, which translates into the estimated reduction of -7,543 Kt per annum over the period of FY2023 - FY2045. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
Engie also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. ENGIE commits to reduce scope 1 and 2 GHG emissions 55% per MWh of electricity and heat generated by 2030 from a 2017 base year. ENGIE also commits to reduce scope 1 and scope 3 GHG emissions from fuel and energy related activities and investments covering all sold electricity and heat 56% per MWh within the same timeframe. ENGIE further commits to reduce absolute scope 3 GHG emissions from purchased goods and services, capital goods, fuel and energy related activities, and use of sold product emissions of gas distribution by 32.5% within the same timeframe.