Performance Score
SSE's climate strategy seems to be well thought out and implemented with an action plan broken down by scope. However, the group does not provide information on its short-term emission reduction targets. Similarly, although the net zero ambition is declared on the 3 scopes, the commitment has been withdrawn from the SBTi and there remains a vagueness on the reduction targets beyond 2034 to achieve this. Finally, SSE has an ambitious investment plan aimed mainly at renewable energies and grid infrastructure, but this plan lacks transparency and details on the purpose and distribution of energy in the networks. Low-carbon activities still represent only 50% of the company's turnover today.
Narrative Score
Overall, the HSE climate plan is well advanced in many areas. The progress made by SSE in recent years is encouraging. SSE has a detailed transition plan that takes into account the actions and levers of action to achieve carbon neutrality. In addition, the company is on track to meet its emissions reduction targets. In 2023, the company invested 81% of its capital expenditure in low-carbon technologies and plans to increase this percentage to 90% by 2025. The company has also set itself the goal of engaging with its suppliers to set science-based targets.
Trend score
While SSE has a strong ambition to transition to a low-carbon economy, with a focus on renewables and distribution, the company may need to accelerate its emissions reduction efforts in order to meet its net-zero targets.
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