We are proud of our success so far in reducing emissions from electricity generation. Much has happened over the last few years: the closure of thermal power plants, phasing out of energy generation from hard coal in the year 2020 and an increase in renewable generation have contributed significantly to improving the company's greenhouse gas inventory.
95% of the electricity generated at VERBUND, already originates from hydropower and wind power. As it is still necessary to use thermal power plants to provide grid support and district heating, the remaining 5% share of generation originates from thermal power plants. The specific greenhouse gas emissions for these production volumes are getting reduced. Thus, VERBUND contributes to avoiding and reducing emissions and to SDG 13 “Climate action”.
We analyse opportunities and risks of climate change
Our Climate Report addresses the issue of climate change and its significance for VERBUND. We examine the regulatory framework relevant to us, such as the Paris Agreement and the European Green Deal.
For VERBUND it is a key issue to deal with the impacts of climate change. The Climate Report illustrates this with meteorological models, the management of extreme weather events and examples of projects. In addition to challenges and risks, the report highlights opportunities emerging through the expansion of renewable energy and the decarbonisation of the energy sector. By implementing our Strategy 2030, we want to seize these opportunities and contribute to achieving the climate targets.
Our goals for the future
The Paris Agreement on climate change drafted in 2015 aims to reduce worldwide emissions of greenhouse gases to a level intended to limit a rise in global temperatures to below 2 degrees or, better still, to below 1.5 degrees. VERBUND’s target of reducing greenhouse gas emissions by 90% from the basis year 2011 until 2021 includes Scope 1-, market-based Scope 2- and parts of Scope 3-emissions for fuels and air travel. In October 2016 the Science Based Targets Initiative validated this goal as science-based, and for Scope 1 and 2 emissions it is in accordance with the 1.5 degree target.
According to current planning, the target can be achieved. However, if the grid operator requires higher generation volumes from VERBUND’s thermal power plants for congestion management, it could also be missed. VERBUND cannot influence the precise amount; the provision is essential for the security of grid operations and therefore for the security of supply in Austria.
Our reporting standards
We calculate GHG emissions in accordance with international standards such as the Greenhouse Gas Protocol. Auditors check and verify these calculations. The results are published in the integrated annual report, with further details in the NFI download on our website.
VERBUND presents the management of risks and opportunities of climate change, the organizational implementation and concrete goals and measures via CDP (formerly Carbon Disclosure Project) since 2006. CDP runs a disclosure system concerning self-reported environmental data for companies, cities, states and regions worldwide.