On March 14, ENGIE published its 2023 Integrated Report (TCFD) [3], in which some progress was made, including new details on Scope 3 emissions for each of the company’s activities; the addition of decarbonization targets for electricity production and consumption (-66% by 2030 for Scope 1 and 2), as well as for the reduction of methane emissions from gas infrastructures (-30% by 2030); and details of the emission items concerned by the various existing decarbonization targets.<\/p>\n
On April 17, ENGIE made new announcements [4], very clearly with a view to dissuading investors from taking the resolution to the general meeting. Very little new information is given:<\/p>\n
\n- Engie provides only limited transparency as to its electricity mix in 2025 and 2030 by visually publishing through a few unquantified charts.<\/li>\n
- Engie confirms its commitment to increase its growth investments from 15 to 16 billion euros over the period 2021-2023 to 22 to 25 billion over the period 2023-2025, but does not provide any granularity by energy type. ENGIE goes beyond the breakdown by business unit adding three categories. However, no granularity is provided to distinguish the activities in each category. CAPEX in wind, solar and hydro are reported together in the renewable electricity production category, and the production of green gas (including biogas, biomethane and hydrogen) is reported together with electrical energy storage capacities such as batteries.<\/li>\n
- ENGIE, which has a target of 100% green gas by 2045, publishes a chart that indicates that about 15% of its gas sales will be based on green gas in 2030. This low indicative \u00ab\u00a0target\u00a0\u00bb underlines the immaturity of these technologies which, moreover, assume the prolonged use of methane, a gas 84 times more warming than CO2 over 20 years.<\/li>\n<\/ul>\n
As a result major gaps remain and are sufficient to justify the request by the authors of the resolution for more transparency:<\/p>\n