GlobalData offers a comprehensive analysis of SSE, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on SSE‘s ESG performance. GlobalData’s company profile on SSE offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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SSE, a leading energy company, has set a long-term objective to attain net-zero greenhouse gas (GHG) emissions for its scope 1 and scope 2 emissions by 2040 (conditional upon security of supply requirements) and for the remaining scope 3 emissions by 2050. The company's aspirations for net-zero emissions are reinforced by interim science-based targets aligned with a 1.5°C pathway. SSE's Net Zero Transition Plan transparently outlines the essential steps the company will undertake to propel progress towards these targets for its stakeholders. This report will include measures to evaluate the consistency of SSE's economic activity with the net-zero plan, alignment of public policy engagement and communications, governance of the transition plan, evaluation of the impact on employees and stakeholders, and confirmation of climate risk reporting consistency.
SSE has already taken significant steps towards emission reduction. It has implemented the Net Zero Acceleration Programme Plus, an £18 billion strategic capital investment plan to 2027, to align its economic activity with net-zero goals. The company is also actively engaging with its supply chain through partnerships and involvement in carbon working groups. SSE has made progress in decarbonizing its thermal portfolio, including the development of carbon capture and storage technologies, and exploring hydrogen options. It is committed to building a renewable energy portfolio of over 16GW capacity by 2032.
In terms of achievements, SSE has published progress reports on climate risk assessments and updated mitigation measures. It has secured funding to develop nature-based solutions for residual emissions and advocated for more ambitious climate change policies. The company has also committed to purchasing 100% renewable electricity for its offices and advancing projects like the Coire Glas pumped hydro project. SSE's Net Zero Transition Plan outlines 17 key actions to ensure its net-zero ambitions are met. The company recognizes the importance of enhanced engagement on climate-related issues and aims to consult shareholders annually on its Net Zero Transition report.
Overall, SSE is actively working towards its net-zero targets and has made significant progress in reducing emissions. The company's commitment to enhanced engagement with shareholders and adherence to climate-related reporting recommendations demonstrates its dedication to transparency and accountability. By implementing various measures and investments, SSE is on track to achieve its net-zero goals and contribute to a sustainable future.
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