The EDF group’s investment projects were analysed based on the CAP 2030 strategy and its commitment to achieve carbon neutrality for all its direct and indirect emissions by 2050.
For all countries covered by the EU-ETS (European greenhouse gas emissions trading system), through which the majority of EDF group investments are made, the sensitivity of the profitability of projects in terms of production is also assessed based on medium- to long-term scenarios using different 2050 emissions price trajectory forecasts.
These scenarios and the related carbon price trajectories are developed taking account of various parameters, particularly GDP growth, raw material prices, technology costs, and climate and energy regulations. In its response to the 2021 CDP questionnaire, EDF stated, for example, that the carbon price range currently taken into account in its scenarios was €47/tCO2 in 2020 to €150/tCO2 by 2040.
By enabling identification of project risks and opportunities and testing their climate change resilience, this analysis, based on scenarios integrating different carbon price trajectories, contributes to guiding the Group’s investments.
For full details, see section 3.8.3 “Details on the taxonomy” and 3.1.1.2.2 “Climate performance for integrated performance”.
For full details on Green Bonds, see chapter 6.7 of the URD.
72% of credit lines are indexed on ESG indicators i.e. a total of €9.3 billion out of €13 billion at 31 December 2021.
The EDF group promotes public policies that encourage actual carbon reduction in the economy.
The EDF group strives to hasten the French energy transition and halt the use of fossil fuels. In particular, EDF is a member of the French Electricity Union (Union française de l’électricité, UFE). In its white paper (1) “Energy transition to benefit the French”, it presents a series of reforms to prepare the future of the energy system with a view to “zero emissions”, for instance through the introduction in investment decisions (calls for tenders) of criteria pertaining to carbon footprints and location.
EDF is not a member of the MEDEF (Mouvement des entreprises de France), but in August 2019 it joined MEDEF’s “French Business Climate Pledge” (2) initiative.
EDF supports the implementation of an ambitious national legal and regulatory framework to see France become carbon-neutral by 2050. EDF has followed the work of the French Citizens’ Convention on the Climate and was pleased to see many of their proposals taken into account in the French Climate and Resilience Act of 22 August 2021.
EDF is involved in work to develop the French Energy-Climate Strategy (Stratégie française sur l’énergie et le climat, SFEC), begun in 2021 and due to be completed in the first half of 2024. The SFEC includes a review of France’s National Low Carbon Strategy and National Plan for Adaptation to Climate Change, constituting France’s roadmap to achieve carbon neutrality by 2050 and ensuring that our society can adjust to the impacts of climate change.
The EDF group participates both in its own name (through its permanent office in Brussels) and through Eurelectric, the association representing the common interests of the electricity industry in Europe. The EDF group’s commitment to a robust EU greenhouse gas trading system and to an ambitious long-term climate and energy strategy led by the European Commission is recognised by all stakeholders, including NGOs such as InfluenceMap (3) which has repeatedly ranked EDF as one of the companies most actively promoting climate issues in EU negotiations (4). EDF engages in transparent, responsible lobbying (see section 3.3.2 “Ethics, compliance, and human rights”).
Jean-Bernard Lévy, Chairman and Chief Executive Officer of EDF, was elected Chairman of Eurelectric in May 2021. During his Chairmanship, Jean-Bernard Lévy intends to structure his term of office around four pillars: promoting the Green Deal as a social, industrial, and strategic opportunity for all Europeans; adopting an affordable, low-carbon electric lifestyle whilst combatting discriminatory energy taxation; ensuring that a full range of technology with low-carbon emissions contributes to profitable decarbonisation, encouraging the deployment of renewable energies, smart grids, and the use of electrolytic hydrogen; demonstrating the resilience and flexibility of electricity as a key asset for the Green Deal, whilst promoting smart integration and highlighting the benefits of digitalisation.
| EDF joins InfluenceMap’s A-list | InfluenceMap is a partner NGO of the Climate Action 100+ initiative, representing responsible investors with assets under management totalling over $55,000 billion, which aims to ensure companies invest in combatting climate change. On 15 October 2021, InfluenceMap published a list of fifteen leaders in lobbying to promote climate action, out of a total of 350 companies. The EDF group has been included on this A-list, being recognised in particular for its “high level of commitment to a range of key policy areas”. |
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(1) ufe-electricite.fr/transition-energetique-au-service-des-francais/
(3) influencemap.org
(4) The EDF European Business Affairs Department’s business reports are available online: www.edf.fr/groupe-edf/agir-en-entreprise responsable/rapports-et-indicateurs/rapports.
