GlobalData offers a comprehensive analysis of Hawaiian Electric Industries, 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 Hawaiian Electric Industries‘s ESG performance. GlobalData’s company profile on Hawaiian Electric Industries 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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Hawaiian Electric Industries, a leading energy company in Hawaii, has set ambitious net-zero targets by 2045 as part of its commitment to combat climate change. According to ESG report, in 2022 the company’s GHG emission for scope 1 (direct emissions) was 4,109,983 metric tons CO2e and Scope 3 (Value Chain Emissions) was 2,792,754 metric tons CO2e.
The company has taken significant steps to reduce its greenhouse gas (GHG) emissions. It has invested in projects such as the Koa'e Makana workforce housing photovoltaic, battery energy storage, and solar water heater systems. This project is estimated to generate approximately 577 MWh of electricity in 2022, resulting in a reduction of around 302 metric tons of CO2 equivalent emissions. Additionally, the Mauo PV + Battery project, involving the construction and operation of a solar PV and battery storage system, is expected to generate around 9,167 MWh of electricity in 2022, leading to a reduction of approximately 5,500 metric tons of CO2 equivalent emissions. These projects contribute to the company's efforts to reduce its scope 1 and scope 2 emissions.
Hawaiian Electric Industries is committed to further reducing its emissions and achieving its net-zero targets. The company's green bond proceeds have been allocated to projects like the Mauo PV/Battery project and the Koa'e Makana workforce housing project. These projects not only provide renewable energy but also contribute to the company's goal of reducing its carbon footprint. The company's sustainability reports highlight its progress towards reaching its renewable energy goals and reducing the impacts of its operations on global warming.
Hawaii has been at the forefront of setting ambitious climate goals, and Hawaiian Electric Industries is aligned with the state's vision of achieving a net-zero future. Hawaii aims to become a carbon-neutral economy by 2045 and achieve a 100% renewable portfolio standard. Hawaiian Electric Industries's commitment to reducing its emissions and investing in renewable energy projects supports the state's goals.
In conclusion, Hawaiian Electric Industries is actively working towards achieving its net-zero targets by 2045 and reducing its carbon emissions. Through investments in renewable energy projects and the use of green bond proceeds, the company is making significant progress in reducing its scope 1, scope 2, and scope 3 emissions. By aligning with Hawaii's ambitious climate goals, Hawaiian Electric Industries is contributing to the state's vision of a net-zero future.
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