Our ambition: to become Net Zero Carbon by 2045
In May 2021, ENGIE adopted a strategic roadmap based on an ambitious commitment: to be Net Zero carbon by 2045.
Highly committed, the Group today confirms its “well below 2°” SBTi certified target and is paving the way:
- ENGIE will be carbon neutral on all three scopes in four countries, including Brazil, by 2030.
- The Group is raising the bar for its carbon intensity ambitions, aiming for a 66% reduction in its production (scope 1) and energy consumption (consolidated assets) CO2 emissions, to reach 110g CO2/kWh by 2030 (compared to 2017).
ENGIE is strengthening its commitment and favoring a global approach by making nature conservation an integral part of its strategy:
- By 2030, the Group has pledged to reduce the quantity of freshwater used for each megawatt hour produced by 70% compared to 2019.
- The TED (Sustainable Energy Transition) label, launched in 2022 in France, will be extended to 5 other Group countries in 2023. This renewable energies co-construction method developed with and vetted by Bureau Veritas integrates 3 key criteria: local stakeholders, nature and the climate.
Our strategy: the alliance of the molecule and the electron
We are convinced that without gas, no other energy alone can enable a reliable and affordable energy transition. That is why we believe in the alliance of the molecule and the electron, an alliance that combines the benefits of gas with the advantages of electricity.
To implement this vision, ENGIE has earmarked growth investment of 22 to 25 billion euros for 2023-25, an increase of 50% over 2021-23, of which 70% will be allocated to Renewables and Energy Solutions and 10% will be allocated to the development of renewable gases and battery storage projects.
A unique position thanks to our integrated model
Having refocused on its core businesses and reduced its international presence to 31 countries (from 70 in 2018) ENGIE has now launched the second phase of its strategic plan.
More streamlined, more industrial, the Group is leveraging the strength of its integrated model to accelerate its growth in the energy transition: the goal is to develop a balanced energy mix underpinned by the entire energy value chain:
- Renewable energy platforms
- Infrastructures to ensure security of supply in Europe
- A wide range of flexible production assets, key to managing the intermittence of the electricity production
- Distributed energy infrastructures, developed and operated by ENGIE, to help customers meet their decarbonization targets
- Energy management, to valorize ENGIE’s business portfolio and to provide risk management services and custom-made energy supply contracts to its customers
Each of these elements makes a key contribution to enhancing ENGIE’s value proposition.
A balanced and diversified energy mix
ENGIE’s energy mix includes:
Large scale renewable energy production to provide competitive low-carbon energy:
- ENGIE is stepping up growth with between 13 and 14 billion euros of investment in onshore and offshore wind and in solar
- 38 GW in 2022, 50 GW in 2025, and 80 GW in 2030, namely 4 GW per year of additional capacity until 2025, and 6 GW per year of additional capacity from 2025 to 2030
Flexible production capacities, such as gas-fired power stations, pumped-storage facilities and batteries to store electricity.
- ENGIE continues to adapt its installed base to make it more efficient and less CO2 intensive
- To complement this electricity production, the Group is stepping up development of its battery storage capacity in Europe and the United States with a global goal of +10 GW of battery storage capacity by 2030
A mix destined to get greener with the ramp up of renewable gases:
ENGIE is focusing on renewable gases by leveraging existing infrastructures: 3.5 billion euros of growth investment in networks by 2030.
In low carbon hydrogen, a key energy for hard-to-decarbonize sectors and for which electricity is not an option, ENGIE has set itself ambitious targets for 2030:
- To develop a green hydrogen production capacity of around 4 GW
- To deploy 700 km of dedicated hydrogen networks and a storage capacity of 1 TWh
- To operate over 100 refueling stations
- To inject 4 billion euros of investment into the sector by 2030
In biomethane, ENGIE is stepping up growth in Europe: 10 TWh/year of biomethane production by 2030.
Thanks to its distributed infrastructures, ENGIE is accelerating growth in customer decarbonization solutions
Structured around three activities - local energy networks, on-site energy production, and energy efficiency services - ENGIE is helping its customers to decarbonize and to enhance their energy independence:
- 45 Mt of CO2 avoided yearly by 2030 for our customers
- 3 billion euros of investment from 2023 to 2025
- The goal: 32 GW of distributed infrastructures by 2025, an increase of 8 GW over 2020
To implement this roadmap, we are leveraging our assets
Our human capital:
- The everyday commitment of our 96,000 women and men
Our industrial culture:
- Our unwavering attention to Health & Safety
- The simplification of our processes and organization
- A culture of continuous improvement
Our strategic enablers:
- Digital at all operational levels
- Proximity to our customers and a strong local footing
- Dialogue with our stakeholders
- Diversification of our sources of supply
- Energy management expertise