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Tenaga Nasional

Tenaga Nasional Berhad (TNB) is a publicly listed company headquartered in Malaysia, with 66.44% owned by government of Malaysia. In 2019, its revenue was US$12.45 billion and installed capacity was 15.72 GW (including majority owned assets ). It is the largest electricity utility in Malaysia, serving 9.2 million customers in peninsular Malaysia, Sabah and Labuan. TNB’s low-carbon transition plan is insufficient and unambitious, with no emissions target and plans to add only a small proportion of renewable capacity.

Ranking position
#29 /50
Total score
5.1 /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)


0.0 /4 #33

Material Investment

2.3 /7 #24

Intangible Investment

0.0 /2 #19


0.8 /4 #33

Policy Engagement

0.4 /1 #26

Business Model

1.5 /2 #14

Leading practice

Risks and opportunities


TNB is awarded a trend score of =. If the company were reassessed in the near future, its score would likely stay the same. TNB’s emissions intensity is expected to increase from 570 gCO2e/kWh to 622 gCO2e/kWh between 2018 and 2023 because of the addition of new coal and gas electricity generation plants. TNB’s absolute emissions are likewise expected to increase between 2018 and 2033, meaning the company will exceed its carbon budget. TNB has initiated scenario analysis and is working towards implementing the Task Force on Climate-related Financial Disclosures recommendations. This suggests the company is likely to establish an emissions reduction target at some point.

Progress towards the Paris Agreement

See results for

  1. 2021
  2. 2023

More about the company

Kuala Lumpur, Malaysia
Ownership structure
Publicly listed, with 66.44% owned by government of Malaysia
Group revenue
US$12.45 billion (2019)
Installed capacity
15.72 GW (2019)