Iberdrola, the owner of ScottishPower in the UK, has been ranked first in a ‘Super-League’ of European electric utilities compiled by CDP on the basis of their response to the challenges of climate change.
In ‘Flicking the switch: are electric utilities prepared for a low carbon future’ CDP’s research, the European utilities are ranked based on a number of different emissions-related metrics.
The CDP based its findings on the emissions generated by 13 major European utilities that represent around 80 percent of the electricity produced in Europe.
CDP aimed to identify the companies that had best adapted to the challenges of operating in a continent where a global objective has been agreed to reduce emissions by 40 percent by 2030 against 1990 levels.
The ranking seeks to provide investors with a tool to evaluate the exposure to carbon risk of electric utilities, and the potential impact that exposure could have on their financial performance.
Iberdrola Group had a total installed generation capacity as at March 2015 of 45.034 MW (of which 14.652 MW are renewables), and in the UK 6.462 MW (of which 1.627MW are renewables).
According to Iberdrola, the company reduced its CO2 emissions worldwide by 6 percent, from 226 grams of CO2 kW/h recorded in 2013 to 212 grams of CO2 per kW/h in 2014.
It ended the year with 62 percent of its total installed capacity emissions-free, or 27.931 MW.
CDP, formerly Carbon Disclosure Project, is an international, non-profit organization that provides the global system for companies and cities to measure, disclose, manage and share environmental information.
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Image: Iberdrola/Illustration