National Grid plc

Multi-Utilities / Electric Utilities / Gas Utilities

NGG

$ 76 0.34

Share price

$ 57 bn

Market Cap

$ 98 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

2.5x the weighted average for S&P 500

FY2021

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

Weaker than the -5.1% weighted average for S&P 500

FY2022

National Grid plc aims to reduce Scope 1 + 2 by 80% by 2030 from a base year 1991

This target has not been verified as science based according to SBTi

Secondary Climate Goal

Proj. YOY change in GHG emissions (Scope 3)

Weaker than the -6.3% weighted average for S&P 500

FY2022

National Grid plc aims to reduce Scope 3 by 37.5% by 2034 from a base year 2019

<2°C

GHG emissions and Carbon intensity

National Grid plc reported Total CO2e Emissions - Location-Based Scope 1 + Scope 2 for the twelve months ending 31 March 2021 at 6,943 Kt (+459/+7.1% y-o-y). Carbon intensity also was up at 379 t (+36/+11% y-o-y).

National Grid plc's Scope 3 emissions plunged to 28,948 Kt (-1,901 /-6.2% y-o-y). This is a higher rate of decline than over the period since 1Q'19 (-4.6% CAGR).

The company is committed to reducing Scope 1 + 2 by 80% by 2030 from a base year 1991, which translates into the estimated reduction of -291 Kt per annum over the period of FY2022 - FY2030. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Also, the company commits to reducing Scope 3 by 37.5% by 2034 from a base year 2019, which translates into the estimated reduction of -626 Kt per annum over the period of FY2022 - FY2034. This science-based target is aligned with Paris Agreement to limit global warming to <2°C above pre-industrial levels.

Date	Total CO2e emissions (location-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2021Q1	6,943	4,727	2,216	28,948	18,337	379
2020Q1	6,484	3,903	2,581	30,849	18,934	343
2019Q1				33,291	20,930
1991Q1	21,631	15,860	5,771