Pacific Gas and Electric Corporation

Electric Utilities

PCG

$ 17 (2.8)%

Share price

$ 42 bn

Market Cap

$ 90 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

1.5x the weighted average for S&P 500

FY2021

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

Weaker than the -8% weighted average for S&P 500

FY2022

Pacific Gas and Electric Corporation aims to reduce Scope 1 + 2 by 50% by 2030 from a base year 2015

This target has not been verified as science based according to SBTi

Secondary Climate Goal

Proj. YOY change in GHG emissions (all Scopes)

Weaker than the -6.5% weighted average for S&P 500

FY2022

Pacific Gas and Electric Corporation aims to achieve net zero for all Scopes by 2040

This target has not been verified as science based according to SBTi

GHG emissions and Carbon intensity

Pacific Gas and Electric Corporation reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 4,621 Kt (+501/+12% y-o-y). Carbon intensity also increased marginally to 224 t (+0.8/+0.4% y-o-y).

Pacific Gas and Electric Corporation's Scope 3 emissions increased to 44,852 Kt (+1,899/+4.4% y-o-y). This is a higher growth rate than over the period since 4Q'17 (+1.5% CAGR).

The company is committed to reducing Scope 1 + 2 by 50% by 2030 from a base year 2015, which translates into the estimated reduction of -186 Kt per annum over the period of FY2022 - FY2030. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Also, the company commits to achieving net zero for all Scopes by 2040, which translates into the estimated reduction of -2,604 Kt per annum over the period of FY2022 - FY2040. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Also, the company commits to reducing Scope 3 by 25% by 2030 from a base year 2015, which translates into the estimated reduction of -942 Kt per annum over the period of FY2022 - FY2030. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2021Q4	4,621	4,459	163	44,852	20,642	224
2020Q4	4,120	3,899	220	42,954	18,469	223
2019Q4	4,523	4,496	28	42,355	17,129	264
2018Q4	4,570	4,410	160	43,310	16,759	273
2017Q4	4,650	4,290	360	41,590	17,135	271
2016Q4	4,950	4,240	710	45,570
2015Q4	5,900	5,040	996	48,500
2009Q4	4,216	3,218	998