Corporate news: VERBUND Climate Transition Plan – net zero emissions by 2050

With its Climate Transition Plan, VERBUND has set out a clearly defined path that includes measurable targets and measures to reduce greenhouse gas emissions. VERBUND aims to achieve a 74% reduction in greenhouse gas emissions by 2030, with a further reduction of at least 90% by 2040. The goal  is to reach net zero by 2050.

As a leading Austrian energy company and one of the largest producers of hydroelectricity in Europe, VERBUND is guided by national and international climate objectives. 

“For VERBUND, we’ve chosen a science-based reduction pathway aligned with the Paris Agreement to limit the rise in global temperatures to 1.5°C,” said Michael Strugl, CEO of VERBUND. “With the Climate Transition Plan, VERBUND has committed itself to achieving net zero greenhouse gas emissions by 2050. We will achieve this using a combination of measures along the value chain which we will implement within a clearly defined timeframe and in accordance with defined target values as part of Mission V. This will include further expanding green production and flexibilities in Europe, converting thermal generation to green hydrogen combustion, and transportation of green hydrogen via former gas pipelines, reducing indirect emissions in electricity procurement and the supply chain, research and development, conversion to e-mobility and more”

Top rating on Moody’s net zero assessment

VERBUND’s Climate Transition Plan was evaluated by Moody’s rating agency as part of a voluntary assessment covering the three areas of ambition, implementation and governance. It was awarded the best possible rating, NZ-1 (leading) for the first time. 

Moody’s emphasises the high probability of VERBUND’s Climate Transition Plan being successfully impelemented: “In recent years, VERBUND has already successfully reduced greenhouse gas emissions from electricity generation. The company is increasing its focus on hydropower and investing in new renewable energies. Our assessment indicates a high probability that the company will achieve the emissions level required for a 1.5 degree Celsius scenario by 2050.”

VERBUND is resolutely pursuing its ambitious climate objectives. By our own power

VERBUND Climate Transition Plan – the path to net zero 

Targets for 2030

• Reducing emissions: VERBUND is committed to reducing absolute Scope 1, 2 and 3 greenhouse gas emissions (excluding category 2) by 74% between 2020 and 2030. Category 2 emissions are indirect emissions resulting from investment in the decarbonisation of the energy system.
• VERBUND is committed to reducing the intensity of Scope 1 emissions (direct emissions) produced by electricity generation by 40% by 2030.

Targets for 2040

• Reduce by 90%:  VERBUND is committed to reducing Scope 1, 2 and 3 greenhouse gas emissions (excluding category 2) by 90% compared to base year 2020 by 2040.
• First and foremost, this will be 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% compared with the base year 2020. 

Targets for 2050

• Net zero: VERBUND is committed to achieving net zero greenhouse gas emissions by 2050 (reduction of at least 90% of greenhouse gas emissions and elimination of residual emissions) compared to base year 2020. Greenhouse gas emissions resulting from capital expenditure for decarbonising the energy system (expansion of renewable energy) are not included.

Read more about the Climate Transition Plan and download Moody's assessment:

Our contribution to climate protection – VERBUND