The FTSE-100 low-carbon infrastructure company has announced its four core 2030 business goals, aligned to the UN's Sustainable Development Goals (SDGs), were being up-weighted to drive faster decarbonisation across the next decade.
Supporting Scottish and UK net zero targets it will also enable the connection of at least 20GW of renewable electricity generation to its north of Scotland electricity Transmission network and enable around two million electric vehicles and one million heat pumps on its electricity distribution networks in the north of Scotland and southern central England by 2030.
SSE's 2030 Goals are already linked to executive remuneration but it is also proposing to increase the emphasis on sustainability overall as well as focusing it more to the longer term.
The Goals increase the company's climate ambitions and are part of its drive for net zero which saw the business unveil a £12.5 billion Net Zero Acceleration Programme in November.
The last 18 months have also seen SSE become a leader on the just transition to net zero, with its ranking at the top of the World Benchmarking Alliance's just transition assessment of 180 global companies. Its fourth 2030 Goal will continue this leadership and champion a fair and just energy transition, by guaranteeing fair work, committing to paying fair tax and sharing economic value.
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SSE broke new ground when it first announced its SDG-aligned 2030 Goals in 2019 and this update makes the targets more stretching after strong delivery over the last three years.
Rachel McEwen, SSE's Chief Sustainability Officer, said: "Achieving net zero will require a relentless focus on carbon reduction and building the low-carbon assets and infrastructure needed can also stimulate good, well paid green jobs and economic value for communities.
"We were one of the first companies to link strategic business goals to the UN's Sustainable Development Goals and to directly link these global goals to executive remuneration. I'm delighted that the progress we've made since then means we're in a position to stretch those 2030 targets further.
"The four ambitious objectives underpin the pace of change we are driving as part of our Net Zero Acceleration Programme."
SSE's new 2030 Goals are to:
• Cut carbon intensity by 80%
Reduce Scope 1 carbon intensity by 80% by 2030, compared to 2017/18 levels, to 61gCO2e/kWh.
• Increase renewable energy output fivefold
Build a renewable energy portfolio that generates at least 50TWh of renewable electricity a year by 2030.
• Enable low-carbon generation and demand
Enable at least 20GW of renewable generation and facilitate around 2 million EVs and 1 million heat pumps on SSEN's electricity networks by 2030.
• Champion a fair and just energy transition
Be a global leader for the just transition to net zero, with a guarantee of fair work and commitment to paying fair tax and sharing economic value.
SSE is currently building more offshore wind than anyone in the world including the world's largest offshore wind farm at Dogger Bank, and owns and operates three of Britain's electricity networks. It has increased its capital investment by two thirds – £1bn more annually – to support the global push to decarbonise.
