VERBUND Climate Transition Plan – net-zero by 2050

As Austria’s leading energy company and one of Europe’s largest generators of electricity from hydropower, VERBUND is guided by national and international climate targets.

“For VERBUND, we have chosen a science-based reduction path that is in line with the Paris Agreement to limit the global temperature increase to 1.5 degrees Celsius,” says Michael Strugl, CEO of VERBUND. “With the Climate Transition Plan, VERBUND is committed to achieving net-zero greenhouse gas emissions by 2050. We will achieve this through bundled measures across the entire value chain, which we will implement within a clearly defined time frame and at defined target values as part of our Mission V. For example, by further expanding green generation and flexibility in Europe, converting thermal generation to firing with green hydrogen or transporting green hydrogen via former gas pipelines, reducing indirect emissions in electricity procurement and in the supply chain, research and development, converting to e-mobility, etc.”

Top score in Moody’s net-zero assessment

VERBUND’s Climate Transition Plan was assessed by the rating agency Moody’s as part of a voluntary review in the three areas of ambition, implementation and governance and was awarded the best possible rating, NZ-1 (leading), for the first time. Moody’s emphasises the high probability of successful implementation of VERBUND’s Climate Transition Plan: “In recent years, VERBUND has already successfully reduced greenhouse gas emissions from electricity generation. The company is increasingly relying on hydropower and investing in new renewable energy. “Our assessment shows a high probability that the company will achieve the level of emissions required for a 1.5-degree Celsius scenario by 2050.” 

VERBUND Climate Transition Plan – the path to net-zero

objectives until 2030

• Emissions reduction: VERBUND commits to reduce the absolute greenhouse gas emissions in Scope 1, 2 and 3 excluding category 2 by 74% from 2020 to 2030. Category 2 emissions are indirect emissions from investments in the decarbonisation of the energy system.
• VERBUND commits to reduce the intensity of Scope 1 emissions (direct emissions) from electricity generation by 40% by 2030.

objectives until 2040

• 90% reduction: VERBUND commits to climate neutrality by 2040 by reducing the greenhouse gas emissions in Scope 1, 2 and 3 excluding category 2 by 90% from the base year 2020 to 2040.
• This is primarily achieved by reducing specific greenhouse gas emissions in Scope 1 (direct emissions) by 90% and by reducing greenhouse gas emissions in Scope 3 (electricity sales) by 98%, starting from the base year 2020.

objectives until 2050

• Net-zero: VERBUND commits to net-zero greenhouse gas emissions by 2050 (reduction of at least 90% of greenhouse gas emissions and elimination of residual emissions) from the base year 2020, with the exception of greenhouse gas emissions resulting from investments in the decarbonisation of the energy system (expansion of renewable energy).