Naturgy has received recognition for its work on fighting climate change by the prestigious Carbon Disclosure Project (CDP), a non-profit organisation that assesses the performance on climate change and water resource management, among other aspects, of the leading companies and governments around the world.
The Naturgy energy group has been scored by CDP since 2010 and this is the thirteenth time that its A- score has placed it among the world’s leaders for its performance on protecting the climate. The company’s scores in aspects such as strategy, emissions reduction initiatives and climate risk management particularly stood out and helped it to achieve this distinction.
It was also included on the A List for its water resource management, achieving an above-average score for the sector and in comparison to similar European companies.
Naturgy’s place on the A List for climate and water performance reflects its commitment to sustainability. Naturgy’s Director of Environment and Social Responsibility, Nuria Rodríguez, explains that “this recognition endorses the initiatives that Naturgy is carrying out to become a key player in energy transition and the fight against climate change. We have taken urgent measures to fight climate change and its effects, as demonstrated by the fact that last year we reduced our carbon footprint by 30% compared to 2017.”
Commitment to sustainability and energy transition
For several years now, Naturgy has taken decisive steps towards being climate neutral, moving forwards with a more sustainable energy mix by developing a renewable portfolio that currently adds 6.5 GW of operating power. Its strategy for the next few years focuses on continued growth in renewable energy, including both wind and solar power generation, and developing innovative biomethane and green hydrogen projects.
The Group sees the energy transition as a genuine opportunity, while always aiming to strike the necessary balance between supplying clean energy, guaranteeing supply and offering affordable prices.
Since 2017, the energy multinational has reduced direct emissions of greenhouse gases by 39%, the intensity of CO2 emissions from power generation by 36%, and water consumption by 39%. Moreover, 37% of its installed capacity was renewable in 2023.
In its fight against climate change, the company aims to restore natural capital and biodiversity through multiple initiatives, all of them aligned with the prevention, reduction and compensation of its impacts to make progress in the commitment not to lose net biodiversity and the enhancement of the value of natural environments.
A total of 353 biodiversity initiatives were developed at an international level in 2023 alone, 22% of them voluntary, in addition to environmental restoration actions on 336 hectares, of which 22% correspond to protected spaces, habitats and species.
The company’s performance in social, environmental and good governance aspects has been recognised by the market. It was awarded a Gold Medal by Ecovadis, placing Naturgy among the top-scoring 5% of all the companies evaluated by the assessment platform. In addition, for a further year it continues to be listed on the FTSE4Good Index, a place it has held continuously for two decades.