Enabling the zero carbon transition
ENGIE is a very different group today than it was three years ago. Since 2016, we have repositioned ourselves to become a leader in the energy transition. And we have succeeded in this transformation. We have turned around our profit trajectory and, between 2012 and 2018, we have more than halved our CO2 emissions. We were able to put ourselves at the forefront of the first wave of energy transition.
Today we want to put ourselves at the forefront of the second wave of energy transition.
In the past, the energy transition was pushed by central governments. Today it is pulled by industries and local authorities, as customers and citizens are raising the pressure.
Industries and local authorities are on the front line. However, for them, the equation to be solved is complex: they must achieve this zero-carbon transition at a cost-effective price and while maintaining the positive impact on their stakeholders.
Our ambition is therefore to make zero-carbon transition possible for Industry and Local authorities.
We want to offer our customers a global approach and solution: a detailed analysis of their needs, leading to a complete overhaul of energy uses to drastically reduce consumption, replacing old equipment with smart energy-efficient equipment, supplying it with green energy. And we will finance it all at a competitive price for the customer.
ENGIE is best positioned to offer and implement this approach.
First, because we ourselves are already engaged in a zero carbon transition, with an impressive track record.
Then because we have a double DNA, customer service and complex infrastructures, which we are going to combine.
On the one hand, we will bring customer solutions closer to infrastructures: we will invest directly in complex infrastructures such as heating and cooling networks, on-site renewables, combined on-site heat and power, public lighting, charging stations, rooftop solar solutions.
On the other hand, we will bring infrastructures closer to our customers, as for example with our renewable assets that will be increasingly contracted directly with the end customer (green power purchase agreement) or gas infrastructures that we will bring closer to territories with the increasing development of biogas.
We will specialize in high added value activities, and leave less complex activities to others.
We will focus our efforts on the most dynamic regions and customers and adapt our organization to serve our strategy.
In conclusion, we will invest €12bn: €4-5bn in customer solutions, €2.3-2.8bn in renewables, €3-3.3bn in gas and electricity grids, for faster growth, higher value and better impact.