Environmental, Social and Governance

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  2023 2022 2021
Portfolio Renewable energy (MW) 2,171 2,121 2,044
Efficient natural gas (MW) 343 343 343
District heating (MWt) 55 55 55
Electric transmission lines (miles) 1,229 1,229 1,166
Water desalination (M ft3) 17.5 17.5 17.5
Number of assets 45 41 38
Targets Science-Based Target initiative (SBTi) approved target: Reduce Scope 1 and 2 GHG emissions per kWh of energy generated by 70% by 2035 from a 2020 base year(1) P P P
Maintain over 85% of Adjusted EBITDA generated from low-carbon footprint assets(2) P P P
Reduce Scope 3 GHG emissions per kWh of energy generated by 70% by 2035 from a 2020 base year P P -
Achieve Net Zero GHG emissions by 2040 P P -
Reduce non-GHG emissions per kWh of energy generated by 50% by 2035 from a 2020 base year P P -
Reduce water consumption per unit of energy generated (KWh) by 50% by 2035 from a 2020 base year P P -
Reduce our hazardous and non-hazardous waste per unit of energy generated (KWh) by 30% and 40%, respectively, by 2035 from a 2023 base year P - -

Environmental Dimension

GHG Emissions Scope 1 (thousand tons of CO2e) 1,775 1,844 1,795
Scope 2 (thousand tons of CO2e) 250 249 237
Scope 3 (thousand tons of CO2e)(3) 799 814 798
• Category 1: Purchased goods and services (thousand tons of CO2e) 161 71 61
• Category 2: Capital goods (thousand tons of CO2e) - 2 2
• Category 3: Fuel-and-energy-related activities (not included in scope 1 or scope 2) (thousand tons of CO2e) 526 634 635
• Category 4: Upstream transportation and distribution (thousand tons of CO2e) - - -
• Category 5: Waste generated in operations (thousand tons of CO2e) 5 1 1
• Category 6: Business travel (thousand tons of CO2e) 2 1 1
• Category 7: Employee commuting (thousand tons of CO2e) 1 - -
• Category 8: Upstream leased assets (thousand tons of CO2e) 1 6 6
• Category 9: Downstream transportation and distribution (thousands tons of CO2e) 2 Not relevant Not relevant
• Category 10: Processing of sold products Not relevant Not relevant Not relevant
• Category 11: Use of sold products Not relevant Not relevant Not relevant
• Category 12: End of life treatment of sold products - Not relevant Not relevant
• Category 13: Downstream leased assets Not relevant Not relevant Not relevant
• Category 14: Franchises Not relevant Not relevant Not relevant
• Category 15: Investments (thousand tons of CO2e) 100 99 93
Total (thousand tons of CO2e) 2,824 2,907 2,830
Offset GHG Emissions (thousand tons of CO2e) 380 320 260
Scope 1 and 2 GHG Emissions / Generation (gCO2e / kWh) 162 168 185
CO2 emissions avoided(3) (million tons of CO2e) 7.0 6.9 5.9
Non-GHG Emissions Nitrogen oxide (NOx) (tons) 454.0 508.7 464.0
Sulfur dioxide (SO2) (tons) 0.9 0.9 1.0
Carbon monoxide (CO) (tons) 333.6 337.0 332.0
Water in Power Generation Water withdrawal (m3 per MWh) 1.46 1.54 1.64
Water discharge (m3 per MWh) 0.17 0.18 0.22
Water consumption (m3 per MWh) 1.29 1.36 1.42
Water withdrawal (million cubic meters) 17.0 17.7 17.3
Water discharge (million cubic meters) 2.0 2.1 2.3
Water Desalination Water (seawater) withdrawal (million cubic meters) 234.8 240.4 244.5
Desalinated potable water production 102.3 105.2 98.0
Water discharge (returned to the sea) (million cubic meters) 132.5 135.2 146.5
Waste Management Hazardous waste (tons) 1,402 1,908 2,576
Non-hazardous waste (tons) 25,993 23,142 22,212

Social Dimension

Health and Safety Total Recordable Frequency Index(4) 4.3 5.2 6.4
Lost Time Frequency Index(5) 1.9 3.1 2.4
Total Recordable Deviation Index (TRDI)(6) 1,714.0 1,245.7 1,623.2
Employees Number of Employees 1,366 978 558
- Women 17% 20% 25%
- Men 83% 80% 75%
Women at management level 17% 23% 23%
Voluntary turnover by year-end 7.6% 12.8% 11.0%
Average annual training per employee (in hours) 33 29 37
Local Community Investments Investments mostly focused on certain regions of EMEA and South America 1.5 1.5 1.3
Human Rights Number of human rights incidents 0 0 0
Data Protection and Privacy Number of data protection and privacy incidents 0 0 0
Supply Chain Management External supplier evaluation as a percentage of total annual operating expenses ~60% ~45% >51%

Governance Dimension

Governance Only one class of shares. No Special rights P P P
% of independent directors 66 66 63
Board committees only comprised of independent members P P P
Ethnic minorities at Board level 22 25 25
Women at Board level 22 22 25
Board committees chaired by women 50 50 50
ESG Reporting Global Reporting Initiative (GRI): Core Option P P P
Sustainability Accounting Standards Board (SASB) (utilities + solar) P P P
Task Force on Climate Change Financial Disclosure (TCFD) P P P

Rating Entities

Rating Entities CDP Climate Change A A A
CDP Water Security A B -
S&P CSA Global Sustainability Yearbook P P P
Sustainalytics ESG Risk Rating (Electric Utilities) 3rd Percentile 3rd Percentile 3rd Percentile
GRESB Infrastructure Public Disclosure A A -
Signatory to United Nations Global Compact (UNGC) P P P
Signatory to Women's Empowerment Principles P P P


(1) The target boundary includes steam generation.

(2) Low carbon footprint assets include renewable energy, storage, transmission infrastructure and water assets.

(3) We base our avoided emissions calculations on the “Greenhouse Gas Equivalencies Calculator” and the Avoided Emissions and Generation Tool (AVERT) U.S. national weighted average CO2 marginal emission rate, to convert reductions of kilowatt-hours into avoided units of CO2. We consider electric and steam generation in the calculation.

(4) Total Recordable Frequency Index (TRFI) represents the total number of recordable accidents with and without leave (lost time injury) recorded in the last twelve months per one million worked hours.

(5) Lost Time Frequency Index (LTFI) represents the total number of recordable accidents with leave (lost time injury) recorded in the last twelve months per one million worked hours.

(6) Total Recordable Deviation Index (TRDI represents the number of near-misses and unsafe acts and conditions recorded in the last 12 months per million hours worked

Additional Information on ESG