Pennon

Pennon has committed to reducing its emissions by 68% on its scopes 1 &2 in 2032 compared to 2021, an SBTi-certified target. However, this objective takes into account the company's market-based emissions, and it appears from the history of emissions in recent years that Pennon has only planned to reduce its market-based scope 2 emissions, through the purchase of PPAs (Power Purchase Agreements) and guarantees of origin, controversial instruments that are not the assurance of the development of new sources of renewable electricity. nor a real reduction in the company's CO2 emissions. In addition, its scope 3 reduction target does not take into account categories 1 & 2 (purchase of products and services and capital goods), which together account for 82% of its scope 3 emissions.
Although Pennon's climate strategy is being evaluated at the highest level of governance, it still lacks maturity. Indeed, apart from PPAs and guarantees of origin, few levers are identified to reduce the company's emissions, and there is little or no mention in the company's reports of actions to be implemented in the long term. However, Pennon incorporates a structured and relevant climate risk analysis, although lacking in figures.