EnBW - Energie Baden-Württemberg AG
EnBW - Energie Baden-Württemberg AG
04/10/2024 | Press release | Distributed by Public on 04/10/2024 02:00
Climate-neutral by 2035: EnBW´s climate transition plan summarizes measures and milestones
1712736000000 | Press Release
Climate-neutral by 2035: EnBW´s climate transition plan summarizes measures and milestones
Company aims to achieve climate neutrality by the end of 2035 / Climate transition plan details SBTi-compliant targets / Guidance for investment decisions
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Karlsruhe. EnBW aims to be climate-neutral by no later than 2035 in respect of its own emissions. For the first time, the company has produced a climate transition plan that summarizes how it intends to achieve the transformation toward climate neutrality and decarbonization. EnBW's climate protection targets (Scopes 1 and 2) are in line with the 1.5°C target set out in the Paris Agreement and have been verified and scientifically validated by the independent Science Based Targets initiative (SBTi).
Katharina Klein, Head of Sustainability at EnBW: "EnBW's climate transition plan defines in clear and transparent terms the milestones we want to reach and the individual steps we wish to take from coal to gas to climate-neutral hydrogen in the area of electricity and heat generation. But it also addresses how environmental and climate change can be managed even better in this context with the aid of comprehensive risk analyses. We also want to use this plan to provide even greater transparency for our stakeholders."
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Increasing regulatory requirements
"Climate transition plans are becoming increasingly important due to regulatory requirements - such as those laid down by the EU, the International Sustainability Standards Board (ISSB) and International Financial Reporting Standards (IFRS). As such, valid and verifiable transition plans can serve as important guides for the financial sector when making investment decisions," adds Lenka Zikmundova, Head of Investor Relations at EnBW.
In addition to the scientifically validated and certified climate protection targets, EnBW's climate transition plan lists all the measures it intends to take in order to achieve the individual goals. It also takes into account any impact that this path toward decarbonization will have on employees, such as those who work at the fossil fuel power plant sites. The plan also details how the various areas of the company are supporting the necessary changes.
Transition plans will be an integral part of sustainability reporting from 2025. Parallel to its climate transition plan, EnBW has published an ESG Factbook. This summarizes essential governance structures, targets, measures and key performance indicators in the area of ESG from 2023.
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About EnBW Energie Baden-Württemberg AG
With a workforce of around 28,000 employees, EnBW is one of the largest energy supply companies in Germany and Europe. It supplies electricity, gas and water together with infrastructure and energy-related products and services to around 5.5 million customers. In the company's transformation from a traditional energy provider to a sustainable infrastructure group, the expansion of renewable energy sources and of the distribution and transportation grids for electricity and gas are cornerstones of EnBW's growth strategy and the focus of its investment spending. From 2024 up to and including 2030, EnBW plans gross investment totalling €40 billion, largely in accelerating the implementation of the energy transition. By the end of 2025, renewables are set to account for more than half of EnBW's generation portfolio. The aim is to phase out coal by the end of 2028.
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