Analysis ENGIEs climate announcement

Reclaim Finance argues that ENGIE's updated climate targets lack the transparency and ambition needed for a 1.5°C pathway. The analysis highlights a continued reliance on LNG, the use of biomass as a 'false solution' for coal conversion, and a lack of detailed asset-wise phase-out plans for coal plants.

• ENGIE has moved its carbon neutrality target for all scopes forward to 2045 from 2050, but it does not align with a 1.5°C pathway or provide timebound benchmarks for absolute emission reductions.
• The company's emissions intensity target for power generation is set at 158g/kWh by 2030 (down from 348g/kWh in 2017), which Reclaim Finance claims is insufficient compared to the 71% reduction required for 1.5°C alignment.
• There is a significant gap between ENGIE's planned biogas production (4 TWh by 2030) and its total gas consumption, which was 401 TWh for its own plants and 330 TWh in sales in 2020.
• ENGIE is expanding its LNG business, investing €1.76 billion in its Network Business Line in 2021, which may include the Montoir-de-Bretagne LNG terminal, increasing reliance on a highly polluting transport method.
• ENGIE plans to invest €40 billion in renewables by 2030, a figure the document notes is significantly lower than Enel's planned €160 billion investment.
• Of its last 10 coal plants, ENGIE intends to convert four to gas or biomass and sell two, rather than closing them, which the document argues fails to reduce real-world emissions.
• The conversion of coal plants to biomass in Chile and Portugal is criticized for creating 'carbon debt' and risking local environmental damage, specifically regarding water-consuming monocultures in Chile.
• ENGIE has abandoned its project to convert a former coal plant to gas in Vado Ligure, Italy.

APA

Reclaim Finance (2021). Analysis ENGIEs climate announcement. https://reclaimfinance.org/site/wp-content/uploads/2021/05/Analysis_EngieAnnouncements_May2021.pdf

Chicago

Reclaim Finance. Analysis ENGIEs climate announcement. 2021. https://reclaimfinance.org/site/wp-content/uploads/2021/05/Analysis_EngieAnnouncements_May2021.pdf.

Wikipedia

{{cite press release |author=Reclaim Finance |title=Analysis ENGIEs climate announcement |date=18 May 2021 |url=https://reclaimfinance.org/site/wp-content/uploads/2021/05/Analysis_EngieAnnouncements_May2021.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{reclaimfinance2021analysis, author = {{Reclaim Finance}}, title = {{Analysis ENGIEs climate announcement}}, publisher = {Reclaim Finance}, year = {2021}, month = may, url = {https://reclaimfinance.org/site/wp-content/uploads/2021/05/Analysis_EngieAnnouncements_May2021.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }