Energy has driven progress for the past 200+ years - from the energy used to create the steam which drove the industrial revolution, to the energy required today to drive the technology revolution which is in full swing.
As governments across the countries we call home seek to embrace this new era, we will do our utmost to help them achieve their ambitious targets for growth and net zero. We’re ready for the transition, and we welcome the ambition to go further, faster.
This is because tackling climate change and social inequality in society is hugely important and presents some of the biggest challenges for society, if not the biggest. It motivates me to think of how we can navigate the energy transition in a way that delivers a better energy system for our customers - a future where energy is affordable, secure and clean. To me this means that we’ve got to be careful that we don’t go down the path of the ideologue and create clean but unaffordable energy, or energy that’s not available when we need it.
"Three years on, I’m equally proud to now publish our second Climate Transition Plan. It demonstrates just how far we’ve come with the progress we’ve made and the insights and experience we’ve gained along the way."
Chris O’Shea, Group Chief Executive, Centrica plc
Our People & Planet Plan is a key part of how we do this. Launched in 2021, it comprises five Group-wide goals that accelerate action on achieving net zero and creating the diverse and inclusive team we need to get there, whilst making a big difference in our local communities. In that same year, we became one of the first UK companies to publish a Climate Transition Plan, detailing how we intended to deliver our Planet targets in a way that’s fair and doesn’t leave anyone behind. I’m immensely proud of this.
Three years on, I’m equally proud to now publish our second Climate Transition Plan. It demonstrates just how far we’ve come with the progress we’ve made and the insights and experience we’ve gained along the way. Not only do we now have a better understanding of the risks and opportunities climate change presents, but we also have a stronger grasp of the key dependencies we rely on to achieve net zero for our business and our stakeholders.
You’ll see that in our new Climate Transition Plan, we’ve strengthened our net zero commitments and provided greater transparency around the steps we plan to take to advance delivery through our new suite of enhanced Climate Ambitions. Although the energy transition is in full flow, we’ve had to take stock of the fact that the UK hasn’t progressed towards net zero as much as we would have hoped in recent years - particularly when we look at electric vehicle (EV) and heat pump adoption.
Today, we’re doing a lot to push the energy transition forward. For example, we’re forming a joint venture to build Europe’s first ammonia-fired power station in Ireland and are set to become the first to blend hydrogen at our Brigg power station in the UK. We’re furthermore developing plans in the UK to turn our Rough gas storage facility into the world’s largest hydrogen storage facility whilst obtaining a carbon storage licence for the Morecambe Bay gas field to provide 25% of the UK’s industrial carbon storage capacity by the 2030s.
Centrica has always been, and will always be, at the forefront of change. Just as we’ve done for the last 213 years, we’ll continue to evolve our business towards net zero. However, we’ll need everyone to play their part as we play ours for the transition to be success.
We know our pathway won’t be quick or easy, nor will our journey be linear. But we know that as a uniquely integrated energy company, we’re well-placed to both drive forward and benefit from the energy transition at every stage of the value chain – whether we’re making, storing, moving and selling energy, or installing and mending related services and solutions.
Thank you.
Chris O’Shea
Chief Executive Officer,
Centrica plc
Our climate emissions and targets
We’ve been setting and delivering carbon reduction targets for over a decade using robust processes and practices to ensure they drive progress
Net Zero Centrica
We want to lead by example and demonstrate to customers and wider stakeholders, that we’re committed to energising a greener, fairer future by taking decisive action to reduce our own emissions.
Net Zero Customers
With the majority of our carbon emissions coming from customer activities, the biggest difference we can make on climate change is to help customers transition to lower carbon and sustainable energy usage.
Climate Transition Plan
We’ve been able to go further and faster in our latest Climate Transition Plan than ever before. We plan to advance delivery against our net zero targets with a new suite of enhanced Climate Ambitions – from achieving 20,000 heat pump sales a year and 5 million Hive connected devices by 2030, to forming a joint venture to build Europe’s first ammonia-fired power station in Ireland.
