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Our target consists of an intermediate target for 2030 and a net zero target for 2040. We also plan to set annual emissions targets from 2022 to ensure that we stay on track to reach our long-term targets. 

2030 target: zero Scope 1 and 2 emissions by 2030 

We have set an absolute reduction target for Scope 1 and 2 to reduce our GHG emissions 100% by 2030. Additionally, we aim to reduce the intensity of our new power plants by at least 40% per kWh versus a 2019 base year. See the table “Our roadmap to zero scope 1 and scope 2 emissions by 2030” for key milestones to achieve this. 

2040: net zero 

We have set an intensity reduction target for Scope 3 emissions to reduce our GHG emissions 97% per kWh by 2040, from a 2019 base year. Any remaining emissions will be offset by certified carbon removals. See the table “Our roadmap to zero net zero by 2040 – pathway to an emission free supply chain” for key milestones to achieve this. 

In 2022, our climate target will be submitted to the SBTi for validation and approval. 

To illustrate some of the key actions and milestones to meet our targets we have developed a high-level climate roadmap. We plan to publish a more detailed climate roadmap report in 2022.  

In 2022, we will identify and prioritise which power plants should first invest in zero emission technologies such as battery storage to replace diesel generators and electric vehicles to replace diesel vehicles. We will also integrate climate as a competitive criterion in our purchasing activities and continue regular engagement with our suppliers on climate change. 

Estimated share of lifecycle greenhouse gas emissions of a solar power plant 

Indirect emissions for components are most material

We have previously mapped our lifecycle greenhouse gas emissions. The key finding reveals that most of the emissions from our solar and wind power plants are from the manufacturing of components. For solar power plants this includes solar panels and the steel frames the panels are mounted on. Collaborating with and challenging our suppliers is therefore crucial to the achievement of our climate targets.

Estimated share of lifecycle greenhouse gas emissions of a solar power plant


Report from the Board of Directors