ERG SpA

MIL: ERG71Credible Contributor· Provisional

0 followersOnshore wind·Genoa, Italy·Founded 1938

www.erg.eu

Italian energy company that transitioned from oil refining to become one of Italy's largest onshore wind operators, with assets across Europe.

71/100

Credible Contributor· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: lowData confidence: medium

Why it's on ClimateTicker

ERG SpA has executed a credible and near-complete transition from Italian oil refining to pure-play onshore wind and solar power, with ~4 GW of installed renewable capacity across Europe and the US and no remaining fossil fuel assets as of 2023. The core business genuinely displaces grid emissions and the trajectory is unambiguously aligned with decarbonisation. The main investor-grade concern is the absence of externally validated (SBTi) science-based targets and limited evidence of formal CDP disclosure, leaving the ambition of corporate-level net-zero commitments unverified.

mitigationERG generates revenue by selling renewable electricity — predominantly from onshore wind, supplemented by solar and battery storage — to utilities, corporates, and via power purchase agreements across Italy, France, Germany, UK, Poland, Romania, Bulgaria, and the United States.

Commitments & Certifications

other: E+ (positive outlook) ↗other: CSRD/ESRS compliant disclosure ↗other: EIB Green Loan recipient ↗other: Green bonds issued (4 series, Luxembourg-listed) ↗

Controversy & Greenwashing Watch

lowLegacy petroleum refining heritage

ERG operated major Sicilian oil refineries for decades before its transition; while the fossil exit is now complete, some ESG data aggregators still classify the company under 'Petroleum Refineries', which may affect index inclusion and screened-fund eligibility.source ↗

mediumNo SBTi or CDP participation identified

Third-party climate data platforms find no evidence ERG SpA participates in SBTi target-setting or CDP disclosure, creating an accountability gap inconsistent with its public green identity.source ↗

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