Filter per region

Module 9, “Business model”, assesses the companies’ dependency on emission-intensive revenue streams and steps being taken to transition and/or replace its existing business model(s) to remain profitable in a low-carbon economy. The company’s future business model(s) should enable it to decouple financial results from GHG emissions, in order to meet the constraints of a low-carbon transition while continuing to generate value. This can be done by developing new, low-carbon business models outside the core business of the company, while decarbonizing or terminating existing, high-carbon business models. This should lead to the company’s revenue being generated entirely from low-carbon products and services, according to the ACT definition of “low carbon” for a particular sector.

This module aims to identify both: 

  • the “big picture” view of the company’s low-carbon transition, by assessing its overall share of revenue from low-carbon products and services and the trend in share over time; 
  • the detail of the specific changes it is making to its business: introducing/expanding new, low-carbon business models; and decarbonizing/terminating its existing, high-carbon business models. 

Ranking overview

1 Électricité de France
Total score 79.1 /100
Business model 79.1 /100
2 Ørsted
Total score 77.5 /100
Business model 77.5 /100
3 Fortum
Total score 73.8 /100
Business model 73.8 /100
4 Vattenfall
Total score 68.5 /100
Business model 68.5 /100
5 Eletrobras
Total score 64.0 /100
Business model 64.0 /100
6 Enel
Total score 59.4 /100
Business model 59.4 /100
7 Iberdrola
Total score 56.3 /100
Business model 56.3 /100
- SSE
Total score 56.3 /100
Business model 56.3 /100
9 Nextera Energy
Total score 56.0 /100
Business model 56.0 /100
10 RWE
Total score 52.3 /100
Business model 52.3 /100
11 Pacific Gas and Electric
Total score 52.2 /100
Business model 52.2 /100
12 Energias de Portugal
Total score 50.4 /100
Business model 50.4 /100
13 ENGIE
Total score 50.0 /100
Business model 50.0 /100
14 Southern Company
Total score 48.8 /100
Business model 48.8 /100
15 CMS Energy
Total score 47.5 /100
Business model 47.5 /100
16 Origin Energy
Total score 46.6 /100
Business model 46.6 /100
17 WEC Energy Group
Total score 44.2 /100
Business model 44.2 /100
18 Dominion Energy
Total score 44.1 /100
Business model 44.1 /100
19 Tata Power
Total score 42.4 /100
Business model 42.4 /100
20 AES
Total score 41.9 /100
Business model 41.9 /100
21 Duke Energy
Total score 41.7 /100
Business model 41.7 /100
22 E.ON
Total score 40.6 /100
Business model 40.6 /100
23 EnBW Company
Total score 39.0 /100
Business model 39.0 /100
24 AGL Energy
Total score 38.5 /100
Business model 38.5 /100
25 Xcel Energy
Total score 38.3 /100
Business model 38.3 /100
26 Polska Grupa Energetyczna
Total score 36.5 /100
Business model 36.5 /100
27 ČEZ Group
Total score 35.8 /100
Business model 35.8 /100
28 Uniper
Total score 35.4 /100
Business model 35.4 /100
29 Vistra
Total score 34.9 /100
Business model 34.9 /100
30 CLP Group
Total score 34.6 /100
Business model 34.6 /100
31 Tenaga Nasional
Total score 34.0 /100
Business model 34.0 /100
32 Saudi Electricity Company
Total score 33.5 /100
Business model 33.5 /100
33 Power Assets
Total score 30.1 /100
Business model 30.1 /100
34 JSW Energy
Total score 28.8 /100
Business model 28.8 /100
35 PPL
Total score 27.1 /100
Business model 27.1 /100
36 Tanzania Electric Supply Company
Total score 25.0 /100
Business model 25.0 /100
37 American Electric Power
Total score 24.3 /100
Business model 24.3 /100
38 Perusahaan Listrik Negara
Total score 23.7 /100
Business model 23.7 /100
39 China Datang
Total score 23.1 /100
Business model 23.1 /100
- China Huadian
Total score 23.1 /100
Business model 23.1 /100
- State Power Investment Corporation
Total score 23.1 /100
Business model 23.1 /100
42 AboitizPower
Total score 22.5 /100
Business model 22.5 /100
- Constellation Energy
Total score 22.5 /100
Business model 22.5 /100
44 China Three Gorges
Total score 21.3 /100
Business model 21.3 /100
- Tohoku Electric Power
Total score 21.3 /100
Business model 21.3 /100
- Vietnam Electricity
Total score 21.3 /100
Business model 21.3 /100
47 CHN Energy
Total score 19.4 /100
Business model 19.4 /100
- Chubu Electric Power
Total score 19.4 /100
Business model 19.4 /100
- Taipower
Total score 19.4 /100
Business model 19.4 /100
50 Tokyo Electric Power Company
Total score 19.1 /100
Business model 19.1 /100
51 J Power
Total score 18.8 /100
Business model 18.8 /100
- Korea Electric Power Corporation
Total score 18.8 /100
Business model 18.8 /100
- Kyushu Electric Power
Total score 18.8 /100
Business model 18.8 /100
54 Chugoku Electric Power
Total score 18.3 /100
Business model 18.3 /100
55 Comisión Federal de Electricidad
Total score 17.5 /100
Business model 17.5 /100
- Kansai Electric Power
Total score 17.5 /100
Business model 17.5 /100
57 NTPC
Total score 16.3 /100
Business model 16.3 /100
- Pampa Energia
Total score 16.3 /100
Business model 16.3 /100
59 Egyptian Electricity Holding Company
Total score 15.0 /100
Business model 15.0 /100
- Electricity Generating Authority of Thailand
Total score 15.0 /100
Business model 15.0 /100
- K-Electric
Total score 15.0 /100
Business model 15.0 /100
62 China Huaneng
Total score 14.4 /100
Business model 14.4 /100
- NRG Energy
Total score 14.4 /100
Business model 14.4 /100
64 Mahagenco
Total score 12.5 /100
Business model 12.5 /100
65 Qatar Electricity and Water Company
Total score 7.5 /100
Business model 7.5 /100
66 Eskom
Total score 0.0 /100
Business model 0.0 /100
- Inter RAO
Total score 0.0 /100
Business model 0.0 /100
- Transcorp Power
Total score 0.0 /100
Business model 0.0 /100