How Are the Leaders Leading?
The commitments of governments, regions, and cities across the globe to reduce carbon emissions are creating transformative times for many industries. Few are facing more change than the global power sector, which is responsible for approximately one-quarter of global greenhouse gas (GHG) emissions. It is expected that renewable electricity will need to increase to 70-85% of supplies by 2050 in order to limit climate change to less than 1.5°C of warming to avoid its worst impacts, with coal-fired power being almost completely eliminated.
A Need for Leadership
Given its size and effect, it is important that the global power sector play a key role in the world’s decarbonization efforts. To recognize progress made on this front, Trucost developed a methodology to identify power companies at the forefront of the energy transition for the S&P Global Platts3 Global Energy Awards; The Energy Transition Award. Trucost developed criteria to recognize the leadership of power companies in the move to a low-carbon, sustainable economy by:
- Taking steps to report and reduce GHG impacts.
- Publishing robust targets to improve performance.
- Aligning with global energy transition commitments.
- Demonstrating true leadership in innovative ways.
Identifying Power Leaders in the Energy Transition