At the heart of our strategy lies our publicly‑declared target to reduce the GHG intensity of our electricity production from our portfolio by 50% by 2030 relative to 2020, largely enabled by a rapidly rising share of renewables generation capacity, reaching a 50/50 green‑brown ratio by 2030 (‘green’ refers to renewable energy source, ‘brown’ indicates fossil fuel‑based energy sources in a power generation asset). We commit to developing and implementing measures to address the impacts of climate change, including the reduction of GHG emissions, aiming for net zero emissions from our portfolio by 2050.
Alignment with the Task Force on Climate‑Related Financial Disclosures (TCFD)
We seek to provide investors and other stakeholders with information enabling them to assess the adequacy of our approach to climate change and our ability to manage the associated risks and opportunities.
TCFD alignment progress
Theme
Recommended TCFD disclosure
Status
Plan
2022
2023
2024
Governance
Disclose the Company’s governance around climate‑related risks and opportunities.
Strategy
Disclose the actual and potential impacts of climate‑related risks and opportunities on the Company’s businesses, strategy, and financial planning where such information is material.
Risk management
Disclose how the Company identifies, assesses, and manages climate‑related risks.
Metrics and targets
Disclose the metrics and targets used to assess and manage relevant climate‑related risks and opportunities where such information is material.
— Commence
Risk identification
In 2022, we conducted a qualitative exercise to identify risks and opportunities that might arise over the next 30 years based on the current policy environment.
This exercise leveraged all the internal and external experience and knowledge including internal experts, the Intergovernmental Panel on Climate Change (IPCC) reports, and peers.
Risk identification
In 2022, we conducted a qualitative exercise to identify risks and opportunities that might arise over the next 30 years based on the current policy environment.
This exercise leveraged all the internal and external experience and knowledge including internal experts, the Intergovernmental Panel on Climate Change (IPCC) reports, and peers.
The table here shows the map of the climate risks:
Energy transition takes ambition ACWA Power plans to be net zero by 2050
Climate risk matrix (threats)
Technology/activity
Renewables
Desalination
Thermal power
Climate change elements
PV
CSP tower
CSP parabolic
Wind
Thermal
Membrane
Steam generator
CCGT
Heat & cold
Wet & dry
Wind
Snow & ice
Coastal
Oceanic
Additional risks Air pollution weather, atmospheric CO2 at surface, level of lakes, radiation at surface, relative humidity.
High
Low
Climate risk matrix (opportunities)
Technology/activity
Renewables
Desalination
Thermal power
Climate change elements
PV
CSP tower
CSP parabolic
Wind
Thermal
Membrane
Steam generator
CCGT
Heat & cold
Wet & dry
Wind
Snow & ice
Coastal
Oceanic
Additional risks Air pollution weather, radiation at surface, air pressure.
