
Breadcrumbs
Utilities Beyond Fossil Fuels
Case Study: ENGIE
About
We take a look at ENGIE’s global coal phase-out, identifying fossil gas conversion risks and a lack of Paris Agreement alignment.
Full analysis is available in the downloadable PDF
Executive summary
Key findings
With countries across the world pledging to reach net zero emissions by 2050 and the need to limit global warming to 1.5°C, the full decarbonisation of the electricity sector has never been so essential and urgent.
Lucie Pinson Founder & Executive Director, Reclaim Finance
Has ENGIE recently given up importing shale gas into France to supply its power plants in Chile? This is a crucial question to which ENGIE’s shareholders are entitled to expect answers. While 23 French financial players expect ENGIE and their other coal customers to adopt a coal exit plan, many of them have also committed to align their activities with a carbon neutral or Paris Accord objective. Their own objective, already weakened by the fact that ENGIE has only a 2°C strategy, will be defeated if ENGIE does not turn coal phase-out into an opportunity to switch to renewables.