Our contribution towards reduction of greenhouse gas emissionsWe are proud of our success to date in reducing the emissions from electricity generation. Much has happened in the last years: From 2011 to 2017, we were able to reduce our direct greenhouse gas emissions by 63%.
In calculating the emissions, we work according to international standards such as the Greenhouse Gas Protocol. Auditors check and verify these calculations. The results show our contribution to climate protection and are published in the integrated annual report, with further details on our website.
Even before the climate conference in Paris, VERBUND made its postion regarding climate protection clear in a joint position paper along with NGOs. You can find our current positions on climate change and other environmental topics under 'About VERBUND > Advocacy of Interests'.
And what will the future bring? The climate change involves both risks and chances. We formulate objectives for the reduction of emissions and implement concrete measures. Globally, the aim is to reduce GHG emissions to a level that should limit global warming to less than 2 degrees - or better still, to less than 1.5 degrees. Our target of reducing GHG emissions by 90% in the time period from 2011 to 2021 was approved as science based - e.g. corresponding to these global aims. See also Science Based Target Initiative.
VERBUND is first in CDP's 2017 League Table "Charged or static"
The report - subtitled "Which european utilites are prepared for a low carbon transition" - analyzes 14 of Europe’s major utilities companies (with combined market capitalization of € billion), against several environment-related metrics. The Utilites League Table shows VERBUND as one of the top performers against a range of environment-related metrics. These include performance against emissions reductions and forward-looking targets, carbon emissions-related cost exposure, exposure to water risk and carbon regulation supportiveness. See detailed analysis of VERBUND in the Utilities-Report.
VERBUND is first of 14 in CDP’s League Table, which highlights those best prepared for climate regulation. Drew Fryer, Senior Analyst, Investor Research at CDP said: “In Europe, major utilities must transform their business models to achieve the climate goals laid out in the Paris Agreement. Verbund is leading the way in planning for the future, targeting a 100% renewable energy generation portfolio by 2020 and is decommissioning remaining fossil fuel assets. But many other utilities remain reliant on coal for a significant share of power generated, and will break their carbon budgets in years to come based on existing fossil fuel assets. Rapid deployment of renewables is critical for the sector as it transitions to a low carbon future.”