After a thorough review process, the Science Based Targets initiative (SBTi) has confirmed that RWE’s climate targets to reduce its emissions across all corporate activities (Scope 1, 2 and 3 emissions) and across all greenhouse gases (GHG) are in line with the Paris Agreement’s goal of limiting global warming to 1.5 degrees. Furthermore, the SBTi has validated RWE’s target to achieve net zero by 2040.
This is the second time RWE’s climate targets have been validated by SBTi, following the recognition of its previous targets in 2020. SBTi is an international climate action initiative that provides detailed standards for companies to set targets to limit the rise in global temperature. The organisation is partnering with CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute, and the World Wide Fund for Nature (WWF).
Kunal Chandra, Director Strategy & Sustainability, RWE AG: “I’m very proud of the confirmation from the Science Based Targets initiative that our 2030 climate targets are in line with a 1.5-degree pathway and that our target of achieving net zero by 2040 has been validated. This is recognition of the great work done by the RWE team to advance towards a sustainable energy world.”
RWE’s climate targets encompass reducing direct GHG emissions, e.g. from electricity generation – so-called Scope 1 emissions according to the Greenhouse Gas Protocol Standard – as well as indirect emissions, e.g. from its own energy consumption (Scope 2) and from the upstream and downstream part of its value chain (Scope 3). These include greenhouse gases emitted during the production of goods and services that RWE purchases from third parties, emissions from the fuels RWE uses to produce electricity as well as emissions that occur when customers consume products supplied by RWE, such as gas.
RWE’s target for 2030 is to reduce Scope 1 and Scope 2 GHG emissions by 71.1% per MWh compared to the base year 2022. Scope 1 and Scope 3 GHG emissions from all electricity sold are to be reduced by 71.1% per MWh over the same period. In addition, all remaining absolute Scope 3 GHG emissions are to be reduced by 42% within the same timeframe.
By 2040, RWE aims to reduce Scope 1 and Scope 2 GHG emissions by 98.3% per MWh compared to 2022. Scope 1 and Scope 3 GHG emissions from all electricity sold are also to be reduced by 98.3% per MWh by 2040 compared to a base year of 2022. All remaining absolute Scope 3 GHG emissions are to be reduced by 90% within the same timeframe. Residual emissions will be neutralised through carbon credits to achieve net-zero GHG emissions across the value chain by 2040.
An info graphic for media use (credit: RWE) showing RWE’s emission reductions is available at the RWE Media Centre.