Engie

Does the core business genuinely avoid or reduce emissions, or build climate resilience? Share of revenue that is actually 'green'. Fossil-dependent models score low.

Renewables reached 50% of installed capacity by end-2025 and Scopes 1+2 GHG emissions fell 55% from 2017 to 48 Mt in 2024, but gas still produced more TWh than renewables (206 vs ~140 TWh in 2024), coal capacity (2.1 GW) persists outside Europe, and Scope 3 gas-sales emissions dwarf operational emissions — meaning the core business remains a significant net emitter.

Credible, science-based targets (SBTi), a real net-zero plan with progress to date, and CDP disclosure — not just a dated press release.

SBTi 'well-below 2°C' certification obtained February 2023 covers all four scope-specific 2030 sub-targets (e.g. -66% carbon intensity scope 1+2 vs 2017); a Net Zero 2045 plan with 2035 and 2040 interim milestones was reaffirmed and strengthened in 2025; Moody's NZ-2 and TPI 1.5°C-by-2030 ratings add independent corroboration — however the SBTi badge is 'well-below 2°C' rather than the stricter 1.5°C Net Zero Standard, and residual emissions are to be neutralised via nature-based carbon credits whose additionality is contested.

Operational footprint, labour and social practices, and governance quality across the company's own operations and supply chain.

Lost-time accident frequency fell from 1.8 to 1.7 in 2024 under the 'ENGIE One Safety' programme; women in management reached 33% in 2025 with a 40-60% parity target; employee share ownership at ~4%; Engie is listed on DJSI World, CAC 40 ESG, and Bloomberg Gender-Equality Index — but OECD-guideline complaints related to coal supply-chain forced displacements in Colombia and Italian billing-overcharge investigations (AGCM) dent the social record.

Quality of disclosure, independent third-party verification, and how much hard data backs the company's claims.

CDP A- score (most recent), full Scope 1/2/3 disclosure in the 2024 CDP Corporate Questionnaire, CSRD/TCFD-aligned Integrated Report, third-party verification referenced in reporting, emissions targets embedded in executive pay and carbon budgets allocated to each GBU — disclosure quality is sector-leading, though the 2024 methodological change to energy conversion coefficients (retroactively applied) and wide target ranges (120–140 MtCO₂e by 2030) slightly reduce comparability.

Controversies, litigation, pollution, fossil-fuel lobbying, conflict-zone involvement and governance scandals. Higher means cleaner.

A BEUC-coordinated complaint by 13 consumer organisations across 11 EU countries filed in June 2025 explicitly names Engie for misleading 'green gas' premium pricing; Corpwatch documents OECD complaints over coal supply-chain forced displacements in Colombia, Hazelwood mine toxic-ash rehabilitation concerns in Australia, shale LNG imports despite prior government veto, coal-asset sales (rather than closures) that kept plants operational, and Italian billing-overcharge investigations — these are recurring and multi-jurisdictional, capping the integrity score materially.