GlobalData offers a comprehensive analysis of California Water Service Group, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on California Water Service Group’s ESG performance. GlobalData’s company profile on California Water Service Group offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.

Smarter leaders trust GlobalData

Report-cover

Premium Insights California Water Service Group - Company Profile

Buy the Report

Premium Insights

The gold standard of business intelligence.

Find out more

California Water Service Group, a water utility company, strives to identify, mitigate, and adapt to critical climate-related impacts while implementing governance structures to oversee short- and long-term sustainability strategies. As part of its comprehensive approach, the company emphasizes the reduction of energy demand and emissions within its operations, recognizing this as a pivotal element of its strategy to minimize its contribution to climate change. The company has detailed its current progress, future plans, and targets in its 2022 ESG Report. There was an 8.18% change in total greenhouse gas (GHG) emissions (combining Scope 1, 2, and 3) compared to the previous year (2021).

In 2022, the company collaborated with an independent third party to conduct an updated inventory of its greenhouse gas emissions, adhering to the Greenhouse Gas Protocol, the globally recognized standard for measuring and managing organizational greenhouse gas emissions. In 2022, the reported greenhouse gas (GHG) emission data for the company's operating subsidiaries—including Cal Water, Hawaii Water, New Mexico Water, and Washington Water—was as follows: Scope 1 (direct/fuel) GHG emissions amounted to 14,099 metric tons CO2e, while Scope 2 (energy indirect/electricity) GHG emissions were 51,738 metric tons CO2e (location-based) and 36,019 metric tons CO2e (market-based). Additionally, Scope 3 GHG emissions, encompassing purchased goods and services, capital goods, and waste generated in operations, reached 796,023 metric tons CO2e. The overall GHG emissions intensity of water produced stood at 0.21 metric tons CO2e per acre-foot. The company has excluded biogenic emissions, which are emissions from the biological degradation of organic material in wastewater treatment operations.

Publicly committed to emission reduction and climate resilience, the organization's objectives include implementing an enterprise-wide renewable power purchasing strategy by 2023, setting science-based greenhouse gas reduction targets for Scope 1 and Scope 2 emissions by Q3 2024, and establishing targets for energy/greenhouse gas intensity of water supplied to customers by 2025. The company aims to meet California's mandated water-use targets by 2027, invest a minimum of $5 million in emissions-reducing energy solutions over the next decade, and develop a company-wide electric vehicle strategy targeting 100% zero-emission passenger vehicles in California by 2035. Additionally, the goal is to increase the use of recycled water in operations to at least 5% of the total water supply to customers by 2035.

In conclusion, California Water Service Group has set visible targets for reducing its GHG emissions and lower its environmental impact to tackle climate change. The company has taken steps to reduce emissions, including investing in renewable energy sources. The company's targeted efforts demonstrates its commitment to fighting climate change and establishing a sustainable future.

Premium Insights

From

The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.

GlobalData

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies representing the world’s largest industries. This analysis is combined with crucial details on strategic and investment priorities, innovation strategies, and CXO insights to provide comprehensive company profiles.