State of decarbonisation in the electric utilities sector disappointingly low

The electric utilities sector started decarbonising before all others, which means it has the most advanced and mature technologies for the low-carbon transition and acts as the enabler for other sectors to decarbonize. However, the sector itself is a long way from keeping within the goal of 1.5°C. WBA’s second benchmark for this sector evidences the low-carbon performance of 70% of the assessed companies is expected to worsen in the near future. Persistent fossil fuel reliance for electricity generation indicates that 98% of companies are expected to exceed their carbon budgets by 2035.