GlobalData offers a comprehensive analysis of Technip Energies, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Technip Energies‘s ESG performance. GlobalData’s company profile on Technip Energies offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Technip Energies, a global engineering and technology company, has set net-zero targets to reduce its carbon emissions. The company aims to achieve net-zero in scope 1 & 2 emissions by 2030 and Scope 3 emissions by 2050. The company has an ESG Roadmap designed to aid in the creation of long-term value for stakeholders and contributing to their journey toward a more sustainable future.
Technip Energies follows the Global Reporting Initiative (GRI) standards to measure and report its greenhouse gas emissions. In 2022, the company reported greenhouse gas (GHG) emissions totaling 18,179 tonnes CO2 eq, encompassing both Scope 1 (direct) and Scope 2 (indirect) emissions. Specifically, Scope 1 emissions, arising from offices, industrial sites, and data centers, amounted to 2,468 tonnes CO2 eq, while Scope 2 emissions (location-based), originating from offices, industrial activities, and data centers, were recorded at 15,711 tonnes CO2 eq. Additionally, the company disclosed Scope 3 (indirect-upstream) emissions, which include categories such as purchased goods and services, capital goods, fuel-and energy-related activities, upstream transportation and distribution, waste generated in operations, business travel, and employee commuting, reaching a total of 1,842,969 tonnes CO2 eq.
According to the company's ESG report, Technip Energies registered a 11% reduction in scope 1 and 2 emissions by 2022, and has an ambitious target of 30% reduction by 2025 and net zero by 2030. Progress on scope 3 emissions stands at 87% by 2022, with full completion expected by 2023 and net zero by 2050. Emission reduction solutions for clients resulted in a 7.3 million metric tons reduction in 2022, with a goal of 15 million by 2025. The R&D budget for Energy Transition reached 83% in 2022, aiming for 100% by 2025. Water consumption from reused sources achieved 19% in 2022, with a target of 50% by 2025, and waste recovery attained 87% in 2022, with an aim to maintain 85% by 2025.
To cut emissions, Technip Energies applies waste valorization, which involves reusing, recycling, composting, and recovering waste. They also use hydrogen in refining to produce cleaner fuels for engines. CANSOLV™, developed in the 1990s, is a significant CO2 capture technology used by Shell Catalysts & Technologies and partnered with Technip Energies. It operates large-scale carbon capture units effectively. Technip Energies also collaborates with Svante on an innovative emission-free method using a rotating filter to extract CO2 from flue gas for future carbon capture units.
In conclusion, Technip Energies has set net-zero targets and has specific goals for scope 1, scope 2, and scope 3 emissions. The company has taken steps such as waste valorization and the use of hydrogen to reduce its emissions. Technip Energies follows professional standards and international guidelines for measuring and reporting its greenhouse gas emissions and has established an ESG roadmap to enable it to drive toward a sustainable future.
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