GlobalData offers a comprehensive analysis of Engie, 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 Engie‘s ESG performance. GlobalData’s company profile on Engie 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.
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Engie, a global energy company, has established a goal of achieving Net Zero Carbon across its complete value chain, including scope 1, 2, and 3 emissions, by the year 2045. The company aims to examine two of its activities every year until 2025. Engie has taken steps to reduce its environmental footprint and promote sustainable practices. In 2022, Engie's carbon footprint across all three scopes (1, 2, and 3) totals 174 Mt CO2 eq. In 2022 the company reported carbon dioxide equivalent emissions of 29.8 Mt for Scope 1, 0.8 Mt for Scope 2, 50.3 Mt for Scope 3 upstream, and 93.4 Mt for Scope 3 downstream.
In Brazil, Engie has developed agroforestry systems near the São Salvador hydroelectric power plant. These systems promote sustainable and economically viable agricultural production while conserving the environment and biodiversity of the Cerrado region. The company is also implementing Nature-based Solutions (NbS) to address the challenges of climate change and biodiversity.
By 2022, Engie has achieved a 44% reduction in greenhouse gas (GHG) emissions associated with its energy production (electricity, heating, and cooling) since 2017. This reduction spans both scope 1 (direct emissions linked to fully and proportionately consolidated assets) and scope 3 (indirect emissions associated with Engie equity associates). This accomplishment represents 74% progress toward the targeted reduction to reach 43 Mt CO2 eq. by 2030 compared to 2017 levels. Engie is committed to minimizing its environmental footprint in various areas. For example, the LNG terminal at Fos Cavaou in France has implemented an innovative water treatment solution to reduce its carbon footprint and enhance environmental respect. Additionally, the Cape Scott wind farm site in Canada has implemented an action plan to protect the surrounding vegetation without the use of chemical products.
The company recognizes its dependencies on nature and the impacts its activities have on the environment. Engie's technologies rely on natural resources such as solar, wind, hydroelectric, and biomass. The production of wind turbines and solar panels involves recycling materials to minimize waste. The company also acknowledges its greenhouse gas emissions and aims to reduce them to combat climate change. Engie has made a commitment to reduce the carbon intensity associated with energy generation and consumption (Scope 1 and 2). This commitment exceeds the requirements set by the Science-Based Targets initiative (SBTi), aiming for a reduction of -66% over the period from 2017 to 2030, surpassing the SBTi's stipulated -55%.
Engie is actively working to reduce the impact of its wind farms on biodiversity. The company is conducting studies on various bird species to identify preferred areas of reproduction and food. By avoiding these areas or using wind turbines that reduce the risk of collision, Engie aims to minimize the impact of wind farms on bird populations.
In conclusion, Engie is committed to achieving net-zero targets by 2045 and reducing its greenhouse gas emissions. The company has implemented various measures, such as agroforestry systems, NbS, and innovative solutions for water treatment, to promote sustainability and minimize its environmental footprint. Engie recognizes the importance of biodiversity preservation and is taking steps to reduce the impact of its wind farms on bird populations.
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