Red Electrica Corporacion SA
Primary Climate Goal
Red Electrica Corporacion SA's target annual Scope 1 + 2 emissions for 2030 should be equal to 823 Kt = 30% * 1,176 Kt, according to the company's stated climate goal.
In order to achieve this goal, Red Electrica Corporacion SA would need to reduce its emissions at least by 17 Kt per annum over the period from 2022 to 2030:
17 Kt = ( 823 Kt - 670 Kt ) / (2030 - 2021)
This translates into a +2.5% increase in 2022.
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.
Red Electrica Corporacion SA aims to reduce Scope 1 + 2 by 30% by 2030 from a base year 2015
This target is most likely outdated and the company appears to have already achieved it
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
Red Electrica Corporacion SA reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 670 Kt (+44/+7% y-o-y). Carbon intensity also was up at 289 t (+20/+7.3% y-o-y).
Red Electrica Corporacion SA's Scope 3 emissions was up at 498 Kt (
The company is committed to reducing Scope 1 + 2 by 30% by 2030 from a base year 2015, which it appears to have already achieved as of 2021. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
Red Electrica Corporacion SA also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. Grupo Red Eléctrica commits to reduce absolute scope 1 and 2 GHG emissions 55% by 2030 from a 2019 base year. Grupo Red Eléctrica also commits to reduce absolute scope 3 GHG emissions 28% within the same timeframe. Grupo Red Eléctrica further commits that 67% of its suppliers by emissions covering purchased goods and services and capital goods will have science-based targets by 2026