EDF Group Unveils Aggressive Carbon Reduction Targets and Commitment to COP28 Goals

EDF Group Unveils Aggressive Carbon Reduction Targets and Commitment to COP28 Goals

(IN BRIEF) EDF Group, the world’s leading producer of electricity free from direct CO2 emissions, has reaffirmed its commitment to reducing its carbon footprint in alignment with UN guidelines ahead of COP28. The company, which pledged to contribute to carbon neutrality by 2050 in 2018, has already seen a 50% reduction in direct CO2 emissions between 2017 and 2022. EDF Group has now set ambitious short- and medium-term targets, including a 60% reduction in Scope 1 emissions by 2025, a 70% reduction in scope 1 by 2030, and an 80% reduction in scope 1 by 2035, with corresponding carbon intensity goals. The strategy involves decarbonizing its energy mix, promoting electrification, energy efficiency, and behavior change, aiming to avoid 30 million tons of CO2 emissions annually by 2030. EDF Group is committed to reaching net-zero CO2 emissions by 2050, with a focus on reducing all emissions, including scope 3 emissions, by at least 90% by 2050. Carbon contribution projects for residual emissions are envisaged after 2030, reflecting the company’s CSR commitments to sustainable carbon storage initiatives with co-benefits for biodiversity and water resources. Luc Rémont, Chairman and CEO of EDF Group, emphasized the company’s pivotal role in combating global warming with its low-carbon energy mix.

(PRESS RELEASE) PARIS, 29-Nov-2023 — /EuropaWire/ — COP28, which opens on 30th November 2023, will see stocktaking of commitments made by states to lowering global emissions. It is in this context that EDF Group is reasserting its ambition to reduce its CO2 emissions, in line with UN guidelines for corporate commitments[1].

EDF, the world’s leading producer of electricity free from direct CO2 emissions[2], set a target of contributing to carbon neutrality by 2050 as early as 2018. In 2020, the Group committed to reduce all its emissions (scope 1, 2 and 3) by 2030[3], and to a climate transition plan approved by 99.87% at its Annual General Assembly in 2022[4].

Accelerating the reduction of direct CO2 emissions in the short and medium terms
After a 50% fall in direct CO2 emissions between 2017 and 2022[5], the Group has set new targets for 2025, 2030 and 2035, with an ambitious short- and medium-term roadmap for decarbonising its electricity mix:

• By 2025, a 60% reduction in Scope 1 emissions compared to 2017;
• By 2030, a 70% reduction in scope 1 and a carbon intensity of 30gCO2/kWh;
• By 2035, an 80% reduction in scope 1 and a carbon intensity of 22gCO2/kWh.

This decarbonisation strategy relies on 3 pillars: decarbonisation of energy mix, electrification and energy sufficiency.
With a carbon intensity of 39gCO2/kWh at the end of September 2023 (vs. 251g in Europe and 460g globally in 2022)[6], EDF Group is one of the world’s top performers, thanks to an energy mix mainly based on nuclear and renewables producing continuously highly decarbonised electricity.

EDF Group now aims to further decarbonise this mix, while continuing to support its customers in their energy transition by:

• Accelerating electrification of customer uses (electric mobility, heat pumps, renewable heat networks);
• Accelerating the use of energy-efficient solutions (thermal insulation of buildings);
• Encouraging changes in behaviour and energy sufficiency, with tools to manage consumption and eco-friendly measures.

With these solutions, EDF Group aims to avoid 30 million tons (Mt) of CO2 emissions per year by 2030.

Target: net zero CO2 emissions by 2050
As a priority, EDF Group’s efforts will focus on effectively reducing all its CO2 emissions (including scope 3 emissions, which in 2022 accounted for almost 80% of the Group’s greenhouse gases) with the aim of reducing them by at least 90% by 2050.
To deal with residual emissions, carbon contribution projects, aimed at storing CO2 present in the atmosphere, are only envisaged after 2030.  Anticipating the development of such projects is one of the Group’s CSR commitments. Supported by its R&D department and the recently created subsidiary Oklima[7], the Group is conducting and supporting this type of project by setting itself high environmental quality criteria, such as promoting sustainable carbon storage projects and maximizing their co-benefits for biodiversity or water resources.

Luc Rémont, Chairman and CEO of EDF Group, stated: “With our energy mix based on nuclear and renewables, the Group responds to the needs of the electricity system by providing a very low-carbon electricity round the clock, while at the same time dealing with the need for resilience. Just a few days before the opening of COP28, this new trajectory for reducing our CO2 emissions reasserts the Group’s major role when it comes to the fight against global warming.”

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About EDF
As a major player in energy transition, the EDF Group is an integrated energy company active in all businesses: generation, transmission, distribution, energy trading, energy sales and energy services. EDF group is a world leader in low-carbon energy, having developed a diverse production mix based mainly on nuclear and renewable energy (including hydropower). It is also investing in new technologies to support energy transition. EDF’s raison d’être is to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development. The Group is involved in supplying energy and services to approximately 40.3 million customers (1), of whom 30.3 million in France (2). It generated consolidated sales of €143.5 billion
in 2022.

(1) Customers are counted per delivery site. A customer can have two delivery points: one for electricity and another one for gas.
(2) Including ÉS (Électricité de Strasbourg) and SEI.

[1] Based on the recommendations of the High‑Level Expert Group on the Net Zero Emissions Commitments of Non‑State Entities (UN HLEG) : https://www.un.org/sites/un2.un.org/files/high-level_expert_group_n7b.pdf

[2] ENERDATA – 2022 Power producers ranking: https://power-producers-ranking.enerdata.net/

[3] validated as “Well Below 2°C” by SBTi

[4] https://www.edf.fr/en/the-edf-group/dedicated-sections/journalists/all-…

[5] In 2017, EDF Group’s direct CO2 emissions amounted to 51 Mt vs. 24 Mt in 2022.

[6] The Group’s carbon intensity is more than 6 times lower than the European average (251 gCO2/kWh –UE 27 value in 2022, European Environment Agency) and more than 10 times lower than the sector’s average worldwide (460 gCO2/kWh –2022 value, AIE – World Energy Outlook 2023)

[7] https://www.edf.fr/en/the-edf-group/dedicated-sections/journalists/all-…

Media Contact:

service-de-presse@edf.fr

SOURCE: EDF