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Vattenfall AB is a state-owned energy company headquartered in Solna, Sweden. In 2019, its revenue was US$17.78 billion and installed capacity was 30.54 GW. The company mainly operates in Sweden, Germany, the Netherlands, Denmark and the UK and has around 20,000 employees. Vattenfall is seen as a sustainable utility, but delayed gas phase-out will hinder its successful transition to the low-carbon economy.

Ranking position
#7 /50
Total score
10.5 /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)


1.9 /4 #18

Material Investment

2.4 /7 #23

Intangible Investment

0.4 /2 #9


3.2 /4 #2

Policy Engagement

0.8 /1 #3

Business Model

1.8 /2 #9

Leading practice

Risks and opportunities


Vattenfall is awarded a trend score of -. If the company were reassessed in the near future, its score would likely worsen. Despite strong performance on historic emissions reductions, the company’s projected emissions intensity does not meet the rate of rapid reduction required by its well-below 2-degree scenario pathway. The company’s current and planned assets already far exceed its allocated decarbonisation pathway emissions budget. Vattenfall’s reliance on gas as a transition fuel will negatively affect its well-below 2-degree performance. The company has strong climate governance and a robust transition plan in place up to 2030. However, without a clear gas phase-out strategy post-2030, progress to date will be undermined.

Progress towards the Paris Agreement

See results for

  1. 2021
  2. 2023

More about the company

Solna, Sweden
Ownership structure
Group revenue
US$17.78 billion (2019)
Installed capacity
30.54 GW (2019)