Our zero emissions ambition

• The deployment of new renewable capacity until achieving 100% generation by 2040.
• Exit from the coal business (1) by 2027 and fromb
• 100% of electricity sales from renewable sources by 2040.
• Withdrawal from gas retail by 2040, focusing on the electrification of usage.
• A plan that preserves the social and economic context, committed to a Fair Transition.
• Investment plan fully aligned with the zero emissions target by 2040.

In 2024, we generated 41,944 GWh free of CO₂ emissions, representing 70% of the energy produced, and we avoided the release of more than 18 million tonnes of CO₂e into the atmosphere.

Electrification of Energy Consumption

We will support the achievement of our climate objectives through a firm commitment to the electrification of energy consumption, a fundamental pathway to achieving a carbon-neutral economy.

Thanks to a more efficient, resilient, and fully digitalised grid, we will drive the decarbonisation of energy consumption in households, businesses, and public administrations. To this end, the 2025–2027 Strategic Plan includes significant investments in smart grids and electrification solutions that enable the direct use of electricity as a clean, safe, and affordable energy source.

The boost to electrification will be complemented by a portfolio of sustainable and innovative energy services—such as electric mobility, heat pumps, or solar self-consumption—actively helping to reduce dependence on fossil fuels and improving energy efficiency across all sectors of society.

A Just Energy Transition

At Endesa, we are firmly committed to a just energy transition that ensures no one is left behind in the shift towards a more sustainable energy model. We advocate for an inclusive approach that combines decarbonisation with social protection and economic development in the affected regions.

Since 2019, we have supported the United Nations initiative “Climate Action for Jobs”, and we have strengthened our leadership in this area through active strategies to support territories undergoing transition.

Our Futur-e initiative is the cornerstone of this strategy. Through ongoing dialogue with local communities, authorities, and other social stakeholders, we design economic revitalisation plans in areas where thermal activities cease. These plans aim to generate employment, promote local entrepreneurship, and foster sustainable industrial reconversion.

During 2023 and 2024, actions have intensified in the projects of Andorra (Teruel) and Pego (Portugal), winners of the Just Transition tenders. Agro-industrial, forestry, and circular-economy projects are already being developed, such as Apadrina un Olivo, which is generating local employment, along with other initiatives in sectors such as rural tourism, sustainable food production, and biomass valorisation.

In addition, we are making progress in the establishment of the Rural School of Sustainable Energy, a specialised training initiative to equip the local population with new skills related to renewables, smart grids, and energy efficiency.

In deploying new renewable facilities, we maintain our Creating Shared Value (CSV) model, which promotes energy projects that are fully integrated into their social, economic, and environmental surroundings. This model strengthens social acceptance of projects and maximises local benefits, helping to stabilise the population, diversify the rural economy, and reinforce the social fabric.

This proactive, collaborative approach strengthens our role as a key agent in a just, ambitious, and people-centred energy transition.

Climate Transparency and Leadership in Sustainability

We participate in CDP Climate Change

Endesa strengthens its commitment to climate action each year through active participation in international environmental assessment initiatives. Since 2006, we have collaborated with CDP Climate Change, the world’s leading platform for measuring corporate performance in addressing climate change.

In the most recent edition, corresponding to 2024, we obtained the highest rating (A-), placing us for the seventh consecutive year in the Leadership category. This recognition not only validates our commitment to decarbonisation but also highlights our ability to integrate climate change into business strategy, act transparently, and work closely with the entire value chain.

This sustained leadership is based on rigorous management of climate risks, the adoption of ambitious emissions-reduction targets in the short and long term, and the implementation of effective action plans to advance our pathway towards carbon neutrality.

Our participation in CDP is also an exercise in responsibility and accountability to investors, regulators, and society, in a context where climate transparency is increasingly crucial for building trust and attracting capital aligned with ESG criteria.

Carbon Footprint: rigorous measurement for real decarbonisation

At Endesa, we understand that you cannot manage what you do not measure. For this reason, since 2009 we have voluntarily calculated and verified our carbon footprint, with the aim of accurately understanding the impact of our activity on the climate and designing effective decarbonisation strategies. This measurement is carried out in accordance with internationally recognised methodologies and through our own analysis and control tools, enabling us to maintain a comprehensive emissions-management system in constant evolution.

Since 2013, we have been registered in the Carbon Footprint Registry of the Ministry for the Ecological Transition and the Demographic Challenge, and in 2024 we renewed— for the sixth consecutive year— the triple “Calculate, Reduce, Offset” seal awarded by the Spanish Office for Climate Change. We are the first company in the energy sector to achieve this distinction consistently, confirming the rigour and continuity of our climate management.

Our carbon footprint covers all three scopes defined by the Greenhouse Gas Protocol (GHG Protocol):

• Scope 1 (direct emissions): includes emissions from our operational activities, primarily those from electricity generation using fossil fuels. In 2024, these emissions decreased by 65% compared to 2017, thanks to the closure of thermal power plants and progress in renewables.

• Scope 2 (indirect emissions from electricity consumption): refers to the emissions associated with the electricity purchased for our own consumption. Our energy efficiency and renewable self-consumption policy has significantly reduced this category.

• Scope 3 (other indirect emissions): includes the entire value chain, from the extraction and transport of fuels to the final use of the products sold, as well as travel, commuting, purchased goods, and waste. In 2024, we have expanded the measurement and transparency of these emissions, with special attention to the impact of our energy products on end users.

This comprehensive approach allows us not only to meet regulatory and voluntary requirements, but also to anticipate risks, identify opportunities for improvement, and set robust reduction targets in the short, medium, and long term. The carbon footprint is not just a technical tool: it is a strategic driver that guides us in our transition towards a low-carbon economy and helps us build trust with all our stakeholders.