Climate Change

environmental dimension

Climate Change

EDP’s climate strategy is based on five pledges that have prepared us for the profound changes taking place in the electricity sector, towards a decarbonised and increasingly decentralized model.

Strategy

For the first time, the Paris Agreement established ambitious and global climate goals: limiting global temperature rise to 2°C and ensuring a neutral balance between the emission and removal of greenhouse gases (GHG) in the 2050-2100 period.

To achieve these goals we need to increase the global economy’s current decarbonization rate by about 500%, and the electricity sector and the energy sector will play a crucial role in this transition.

EDP has a business strategy focused on growth from renewable sources, and it is already one of the largest windfarm operators in the world. Our climate strategy is inseparable from our business strategy: to decarbonise electricity generation and provide our customers with efficient solutions that enhance the efficient electrification and accelerate the decarbonization of the economy.

To implement this strategy, we assume 5 commitments :

climate change edp

International initiatives

EDP has joined all major international initiatives that aim to foster corporate leadership in the creation of a low carbon future. In this context, we commit to:

  • An emission reduction goal which is consistent with the decarbonization levels required to limit global temperature rise to 2°C (* Science Based Target*);
  • Align our internal carbon prices with the *Business Leadership Criteria on Carbon Pricing *, as determined by the United Nations Global Compact;
  • Disseminate climate change information in our accounting documents, as per the requirements of the Climate Change Reporting Framework (prepared by the Climate Disclosure Standards Board).

We are one of the partners of the Low Carbon Technology Partnerships Initiative (LCTPi), which is headed by the World Business Council for Sustainable Development (WBCSD).

The LCTPi brings together some of the largest companies in the world, and it has shown that currently available business solutions have the potential to reach the 65% emissions reduction required to achieve the 2ºC goal. The purpose of the renewable energies action plan, in which EDP is directly involved, is to promote the installation of 1.5 TW of renewable energy worldwide, over the next 10 years.

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