edp news

EDP honored by non-governmental organization CDP for the 4th consecutive year

Wednesday 23, January 2019

EDP has once again been recognized as one of the companies in the world with the best climate change practices.

This distinction was awarded by CDP (formerly Carbon Disclosure Project), a UK-based NGO that every year chooses a small group of companies with the best practices in this area.

The organization ranks companies according to four performance levels. Due to the excellence of its environmental practices, EDP was awarded an A- in the CDP Climate Change category and was ranked at the highest performance level ('Leadership').

EDP also excelled in the CDP Water category, maintaining its 'Management' performance level and B rating.

CDP assesses about 7,000 companies every year, covering more than 50% of the global market capitalization, and then makes this information available to financial investors.

280 of these 7,000 companies are utilities, and only 6% were deemed worthy of the 'Leadership' rank.

EDP's performance reflects the business model that the Group implemented over a decade ago, with a growth strategy focused on expanding renewable production and promoting both energy efficiency and electric mobility.

"EDP has been implementing a growth strategy based on renewable energies and low-carbon services, thereby contributing to the decarbonization of other industries.

By 2020, in a constantly changing world, EDP will have more than 76% of installed renewable capacity, and by 2030 it will have reduced specific CO2 emissions by 75%," said EDP Director António Martins da Costa.

Under this decarbonization strategy, EDP predicts energy savings of more than 1 TWh for its customers and a €200 million investment in R&D projects between 2015 and 2020.

EDP is also modernizing its distribution grids and plans to install smart meters in the homes of 90% of Iberian Peninsula consumers by 2030