Global warming places life on earth in danger, threatening fresh water, food, and energy supplies. Greenhouse gas (GHG) emissions are the primary cause of global warming. Carbon dioxide (CO2), methane (CH4), and nitrogen oxides (NOx) are GHGs produced by the combustion of oil, fossil fuels, and other sources.
Scope 1, 2, and 3 emissions are the three categories of GHG emissions. Scope 1 emissions result from energy production of the company’s controlled assets. Indirect GHG emissions during the production of purchased electricity, and grid losses, are referred to as Scope 2. Scope 3 emissions refer to the company's other indirect emissions beyond the company’s direct operations and occur in the company’s value chain, including upstream and downstream activities, such as gas sales, gas consumption by customers, and business trips.
The power & utility sector is one of the most significant contributors to global greenhouse gas emissions, responsible for approximately 35% of total emissions. The Covid-19 pandemic impacted the energy demand in 2020, reducing global CO2 emissions by 5.2%. However, the rapid economic recovery in 2021 increased the energy demand. The most significant increase in CO2 emissions by sector in 2021 occurred in electricity and heat production, where they jumped by more than 900 million tonnes CO2 equivalent (MtCO2eq), which accounted for 46% of the global increase in emissions.
Enel SpA (Enel), E.ON SE (E.ON), and Exelon Corp (Exelon) are major power & utility companies with a significant amount of Scope 2 emissions.
Enel is an integrated electricity and gas company. It produces, transports, and distributes electricity and sells and trades electric energy and natural gas, green certificates, and CO2 emission rights. In 2021, the company's Scope 2 emissions were 7 MtCO2eq, increasing by 3% annually.
E.ON is an energy utility that produces and distributes electricity, gas, and heat and provides other energy-related products and services. In 2021, the company's Scope 2 emissions were 5.7 MtCO2eq, which declined by 6% annually.
Exelon is a utility services holding company that provides energy services to customers. In 2021, the company's Scope 2 emissions were 5.28 MtCO2eq, increasing by 7% annually.
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