ENGIES 2025 Climate Plan: Status Quo on Gas

Reclaim Finance criticizes ENGIE's 2025 climate plan for its lack of a fossil gas phase-out date and continued investment in gas infrastructure. While the company increased its 2030 renewable energy target to 95 GW, the analysis finds that ENGIE's decarbonization target of 2045 is incompatible with IEA Net Zero scenarios. The report highlights that CAPEX for fossil fuel technologies remains nearly unchanged and recommends that shareholders vote against the 'Say on Climate' presentation and the reelection of CEO Catherine MacGregor.

• ENGIE's 2025 climate plan lacks a phase-out date for fossil gas and does not include an asset-by-asset exit strategy. The company continues to pursue gas expansion through new power plant projects, LNG terminal expansions, and long-term LNG import contracts, including a gas plant in Nijmegen (Netherlands) and two LNG import terminals in France.
• The company's decarbonization target of 2045 is inconsistent with the International Energy Agency (IEA) Net Zero Emissions by 2050 scenario, which requires electricity sector decarbonization by 2035 in advanced economies and 2040 elsewhere to limit warming to 1.5°C.
• ENGIE has increased its renewable energy capacity target by 5 GW over the previous year, aiming for a total of 95 GW by 2030.
• Analysis of CAPEX for 2025–2027 shows that the share of investment allocated to fossil fuel technologies is nearly the same as the 2024–2026 period, with 'Fossil generations assets ans gas networks' accounting for 9.8% of the 2025-2027 budget.
• ENGIE's strategy relies on a diversification into green gases, hydrogen, and biomethane, but its 4 GW hydrogen production target for 2035 was delayed by five years at the 2024 AGM due to development difficulties.

APA

Martin, L. (2025). ENGIES 2025 Climate Plan: Status Quo on Gas. Reclaim Finance. https://reclaimfinance.org/site/en/2025/04/18/engies-2025-climate-plan-status-quo-on-gas/

Chicago

Martin, Léo. ENGIES 2025 Climate Plan: Status Quo on Gas. Reclaim Finance, 2025. https://reclaimfinance.org/site/en/2025/04/18/engies-2025-climate-plan-status-quo-on-gas/.

Wikipedia

{{cite report |last1=Martin |first1=Léo |title=ENGIES 2025 Climate Plan: Status Quo on Gas |publisher=Reclaim Finance |date=18 April 2025 |url=https://reclaimfinance.org/site/en/2025/04/18/engies-2025-climate-plan-status-quo-on-gas/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{martin2025engies, author = {Martin, Léo}, title = {{ENGIES 2025 Climate Plan: Status Quo on Gas}}, institution = {Reclaim Finance}, year = {2025}, month = apr, url = {https://reclaimfinance.org/site/en/2025/04/18/engies-2025-climate-plan-status-quo-on-gas/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }