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Decarbonisation
Our Ambition: Zero Emissions
We are fully committed to transitioning towards a zero-emissions energy model, with a firm and determined dedication to always strive for the highest possible climate ambition. We have advanced our Net Zero target to 2040 in an attempt to successfully transition into a fully decarbonised company through the development of renewable energy and a strong focus on the electrification of energy consumption.
80
% of production on the Spanish mainland is emission-free
10
GW of installed renewable capacity
Aligned with the Sustainable Development Goals
SDG 13: Climate action
SDG 7: Affordable clean energy
As a leading player in the energy sector, we are acutely aware of the challenge our planet faces in curbing global warming and the responsibility that we need to shoulder. Therefore, we are spearheading the energy transition by championing a sustainable business model that prioritises the fight against climate change to create long-term value.
We are fully engaged in the transition to a zero-emissions energy model. We promote the decarbonisation of energy generation systems and simultaneously contribute to the decarbonisation of other industries by electrifying energy demand.
At Endesa, we carry out promotional actions involving institutions, industrial associations, NGOs, and the academic world, with the aim of advancing their vision on climate and policies to eliminate greenhouse gas emissions. The activities we participate in contribute both to evolving the regulatory framework and developing the necessary policies to achieve the goals of the Paris Agreement.
To fulfil our commitment, we have devised a 2024-2026 Strategic Plan that addresses the current climate emergency and outlines a decarbonisation path aligned with the 1.5 ºC target. This plan involves an investment of €8.9 billion, in line with our previous plan, reinforcing our dedication to decarbonisation through renewable generation and distribution grids (two of the pillars of clean electrification), as well as the electrification of all energy uses.
By updating our Strategic Plan, the latest for the 2024-2026 period, we reaffirm our commitment to fully decarbonising the company by 2040. This commitment is supported by significant growth in renewable capacity, with a projected 13,900 MW by the end of 2026, including 1,600 MW of wind power capacity, 2,000 MW of photovoltaic capacity, and strategic projects like Andorra, Pego, and 800 MW of wind power in Galicia. This will allow us to achieve 93% emission-free electricity production in the Spanish mainland, up from nearly 80% at the end of this year. The new renewable capacity added to the energy mix during the period covered by the Plan will amount to 3,600 MW, with an associated investment of €4.3 billion.
This growth in renewables is supported by an extensive project portfolio, with 17 GW of mature projects, 1.4 GW of which are already under construction. 54% of the portfolio is solar, 24% is wind power, and another 19% consists of battery storage projects. The 2024-2026 plan includes 200 MW of this type of storage technology, which was integrated in our previous plan through two major just transition projects secured in 2022 in Pego (Portugal) and Andorra (Aragón).
Decarbonisation Strategy
- Scope 1 Generation (gCO2 eq)
- 2017 (base year): 443
- 2023 (last year): 193 (-56%)
- 2026 (short term): 145 (-67%)
- 2030 (medium term): 95 (-78%)
- 2040 (long term): 0 (-100%)
- Scope 1 & 3 Electricity (gCO2 eq/kWh)
- 2017: 410
- 2023: 214 (-48%)
- 2026: 140 (-66%)
- 2030: 90 (-78%)
- 2040: 0 (-100%)
- Scope 3 Retail Gas (MtCO2 eq)
- 2017: 14.6
- 2023: 8.1 (-45%)
- 2026: 10.0 (-31%)
- 2030: 6.6 (-55%)
- 2040: 0 (-100%)
The percentages (%) indicate the reduction in emissions compared to 2017
Negative emission and compensation technologies will not be developed on the path to achieving our zero-emission target
Notes
1. The emission levels included in Endesa's targets are in line with the SBTi criteria and are part of the objectives certified by the Enel Group.
2. Endesa is committed to mitigating additional Scope 1, 2, and 3 emissions and compensating for any potential residual emissions.
3. Calculation methodology according to Endesa criteria.
4. Gross CAPEX 2024-2026.
Full Decarbonisation by 2040
We have advanced our transformation into a fully decarbonised company to 2040, and aim to become "Net Zero" by 2040. While maintaining our aspiration to achieve zero emissions, we might eventually consider the use of neutralisation instruments for emissions without any zero-emissions technological solutions available. To achieve this, we are focusing on four main areas:
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- Deployment of new renewable capacity to achieve 100% generation by 2040.
Reduction of GHG emissions from the generation business
Reduction of GHG Emissions from Our Generation Business
Scope 1 Emissions (gCO2 eq/kWh)
- Year 2017: 443.
- Year 2023: 193.
- Year 2026: short term <145
- Year 2030: medium term <95
- Year 2040: long term: advancing full electrification from 2050 to 2040 with a zero emissions target
Above the bars: a curved line connecting the years 2017 and 2030, with a sharp decrease of -80% near 2030, indicating the projected reduction.
- Exiting the coal business in 2027 and the gas-based electricity generation business in 2040.
- 100% of electricity sales from renewable sources by 2040.
- Ending retail gas sales by 2040, with a focus on electrifying energy uses.
- Decarbonisation of our supply chain by 2040.
- Investment plan fully aligned with our Zero Emissions target for 2040.
Reduction of GHG emissions from electricity sales
Reduction of GHG Emissions from Electricity Sales
Scope 1 & 3 Emissions (gCO2 eq/kWh)
- Year 2017: 410.
- Year 2023: 214.
- Year 2026: short term <140
- Year 2030: medium term <90
- Year 20240: zero emissions long term
- + A curved line connecting the years 2017 and 2030, with a sharp decrease of -80% near 2030, indicating the projected reduction.
Reduction of GHG emissions from gas sales.
Reduction of GHG Emissions from Gas Sales
Scope 3 Emissions (MtCO2 eq)
- Year 2017: 14.6.
- Year 2023: 8.1.
- Year 2026: short term: 10.
- Year 2030: medium term: 6.6.
- Year 2040: zero emissions Target long term
- + A curved line connecting the years 2017 and 2030, with a sharp decrease of -55% near 2030, indicating the projected reduction.
Electrification of Energy Consumption
We will back the achievement of this key milestone with a determined commitment to the electrification of different kinds of energy consumption.
Thanks to a more efficient, resilient, and digitalised grid, we will drive the decarbonisation of energy consumption in homes, businesses, and public administrations through Endesa X.
A Just Energy Transition
At Endesa, we are committed to a just transition, advocating for everyone to be included in this process towards a sustainable future. We recognise the importance of collaboration between governments, the private sector, and civil society to achieve ambitious climate goals. Since 2019, we have joined the United Nations commitment to a Just Transition, under the "Climate Action for Jobs" initiative.
Our Futur-e initiative reflects this commitment. Through active dialogue with local communities, we design plans to promote economic development and job creation in areas where our plants are ceasing operations. Additionally, we implement a Shared Value Creation (CSV) model in our renewable projects, to ensure that these facilities are integrated with the environment and minimise impacts. This strategy, based on participation and active listening to local stakeholders, has enabled us to secure Just Transition tenders in Andorra and Pego in 2022, strengthening our commitment to sustainability and job creation.
In 2023, we began implementing these support plans in the aforementioned projects, with a focus on providing training for the local population through our Rural School of Sustainable Energy. Additionally, we have initiated projects in the primary sector, such as Adopt an Olive Tree, which is already creating jobs in Andorra and Pego. These efforts reflect our commitment to facilitating a just and sustainable transition, ensuring that no one is left behind and everyone can benefit from a greener and more prosperous future.
We participate in the CDP Climate Change Initiative
Since 2006, we have collaborated with the CDP Climate Change initiative, the most prestigious index on climate change, which provides global insights into the management of risks and opportunities identified by the world's largest companies.
In its latest edition for 2023, we were included in the A List, maintaining our Leadership category for the seventh consecutive year. This outstanding result reflects our steadfast commitment to combating climate change. The CDP's recognition highlights our integration of climate change into our business strategy, transparency in communication, and collaboration on climate change matters across the value chain.
Additionally, we adopt best practices for emissions management, setting ambitious short and long-term reduction targets, evaluating progress, and implementing effective reduction actions.
Carbon Footprint
Carbon footprint calculation is a tool that allows for a detailed inventory of greenhouse gas (GHG) emissions generated by a company.
Since 2009, we have voluntarily calculated and verified our carbon footprint using our own calculation methodology and software tool, implementing a management system and establishing an inventory of GHG emissions and removals across our operations. This indicator allows us to develop key climate strategies and set emissions reduction targets.
We have recorded our carbon footprint since 2013, demonstrating a path of emission reduction based on criteria established by the Spanish Climate Change Office.
The Ministry for Ecological Transition and Demographic Challenge has once again recognised our efforts and results over the years by granting us the triple seal (Calculate, Reduce, Compensate) of the Carbon Footprint Registry. This accolade, awarded by the Spanish Climate Change Office to organisations committed to calculating, reducing, and compensating for their emissions, makes us the first company in the energy sector to renew all three seals for the sixth consecutive year.
