Centrica
LSE: CNA38Laggard· ProvisionalOwner of British Gas, the UK's largest residential gas supplier; generation capacity is primarily gas-backed with some legacy nuclear stakes and limited renewables; gas supply to homes remains the core business.
Why it's on ClimateTicker
Centrica is an integrated UK energy incumbent whose core revenue still flows overwhelmingly from supplying fossil gas to homes and businesses through British Gas, making it structurally a laggard despite a credible-looking Climate Transition Plan. The company is genuinely investing in heat pumps, smart home tech, and low-carbon flexibility, but ~90% of its total GHG footprint sits in Scope 3 customer emissions from gas combustion — a figure that will remain large until the UK heating system is decarbonised. SBTi validation is still pending, the net-zero trajectory relies heavily on upstream gas exits happening on schedule, and a major social governance scandal in 2023 undermines integrity scores.
Commitments & Certifications
Controversy & Greenwashing Watch
Centrica continues to operate gas production fields in the North Sea with plans to utilise remaining reserves within five to ten years, conflicting with its green marketing positioning.source ↗
Despite ~90% of total GHG emissions coming from customers burning fossil gas, Centrica only commits to a 28% GHG intensity reduction by 2030 rather than an absolute Scope 3 cut, a gap that risks being characterised as greenwashing.source ↗
Centrica posted sharply higher profits during the UK energy crisis while millions of customers faced severe fuel poverty, fuelling accusations of profiteering and calls for stronger windfall taxation.source ↗
A 2023 Times undercover investigation revealed British Gas contractors forcibly fitting prepayment meters in the homes of vulnerable and debt-ridden customers, prompting a self-imposed pause, Ofgem scrutiny, and widespread public and parliamentary condemnation.source ↗
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