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EnBW Energie Baden-Wuerttemberg

EnBW Energie Baden-Württemberg AG is a publicly listed energy company headquartered in Germany, with 93.5% owned by the state of Baden-Württemberg. In 2019, its revenue was US$21.06 billion and installed capacity was 13.84 GW. With more than 50% of 2018 generation capacity powered by fossil fuels, EnBW’s emissions intensity (~550 gCO2e/kWh) is significantly higher than the decarbonisation pathway for the sector in Europe.

Ranking position
#31 /50
Total score
5.8 /20
Narrative Score
Trend Score
  • Trend line is up
  • Trend line is equal
  • Trend line is down
Performance module name Performance module score Rank (0-50)


1.0 /4 #26

Material Investment

0.7 /7 #43

Intangible Investment

0.1 /2 #15


1.9 /4 #18

Policy Engagement

0.6 /1 #14

Business Model

1.5 /2 #14

Leading practices

Risks and opportunities


EnBW is awarded a trend score of -. If the company were reassessed in the near future, its score would likely worsen. As a result of its current and expected ongoing asset mix, EnBW’s emissions intensity is not predicted to decrease over the coming period. This will bring the company even further out of alignment with its decarbonisation pathway.   It is not expected that the developing focus on grid infrastructure and flexibilities as well as increased renewables will be enough to close the decarbonisation action gap. Changes in EnBW’s generation assets are largely being forced by German and EU energy and climate regulation. Although the company is making strategic choices to steer its business model towards low-carbon activities, it remains to be seen whether the structural changes required can be achieved quickly enough.

Progress towards the Paris Agreement

See results for

  1. 2021
  2. 2023

More about the company

Karlsruhe, Germany
Ownership structure
Publicly listed, with 93.5% owned by the state of Badem-Württemberg
Group revenue
US$21.06 billion (2019)
Installed capacity
13.84 GW (2019)