We are proud of our success to date in reducing the emissions from electricity generation. Much has happened in the last years: the closure of thermal power plants and an increase in renewable generation have made a significant contribution to improving the company's greenhouse gas inventory.
The Group’s focus on electricity generation from renewable energy is a crucial factor for VERBUND in both reducing and avoiding greenhouse gas emissions. Of the electricity generated at VERBUND, 95% already originates from hydropower and wind power. Because 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. Work to reduce the specific greenhouse gas emissions for these volumes is ongoing. VERBUND is thus contributing to the avoidance and reduction of emissions as well as to SDG 13 “Climate action”.
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% measured beginning from the basis year 2011 until 2021 includes Scope 1, Scope 2 marketbased and parts of Scope 3 emissions for energy and air travel. The Science Based Targets Initiative validated this goal as science-based in October 2016, i.e. it meets global standards.
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; provision is essential for security of grid operations and thus to ensure 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 transparently presents the management of risks and opportunities of climate change, the organizational anchoring and concrete goals and measures at CDP (formerly Carbon Disclosure Project) since 2006. CDP runs a disclosure system concerning self-reported environmental data for companies, cities, states and regions worldwide. VERBUND sees a participation in the CDP rating as its' responsibility. It is important for us to show our awareness and approaches in managing climate change.