Decarbonization has been central to our strategy for nearly two decades.
Across Emera, we've reduced CO2 emissions by 47% and our use of coal in generation (GWh) by 77% compared to 2005 levels (as of Dec. 31, 2023). To keep building on this progress, we established our Climate Commitment— a set of clear carbon reduction goals and our vision to achieve net-zero by 2050.
Our Climate Commitment*
1 CO2 accounts for 98% of Emera’s total Scope 1 & 2 GHG emissions. Approximately 94% of total emissions are from Nova Scotia Power and Tampa Electric.
2 Reduction in GWh generated from coal since 2005.
Our Progress
We're focused on making long-term investments to increase our sources of cleaner and renewable energy, while reducing our use of coal in generation. We continue to invest in significant clean energy projects and in the capacity, reliability and resilience of our systems as work toward our Climate Commitment goals and our vision to achieve net-zero emissions by 2050.
HOW WE'LL GET THERE
We're proud of the progress we've made, but we know there is much more to be done to achieve our climate goals.
We will continue making progress by adopting existing and emerging technologies and working constructively with stakeholders, while staying focused on enhancing reliability and seeking to minimize cost impacts for customers.
As we work toward our 2025 CO2 emissions reduction goal, our 2024 Short-Term Incentive Plan, based on our Corporate Scorecard, connects a portion of executive compensation to the achievement of the following Environment Measure: “Year-end emission forecasts and updated climate transition plan to demonstrate that Emera is on track to fully achieve its 2025 Climate Commitment Goal."
Investing $5.5B+ in cleaner and reliable energy (2024 - 2026)
- Coal Reduction
- Renewables & Low-Carbon Energy
- Transmission
- Customer Solutions
- Batteries
- Smart Grids
- Microgrids
- EVs
- Emerging Technologies
*Our Climate Commitment goals are compared to 2005 levels. Achieving our climate goals on these timelines is subject to external factors beyond our control and dependent upon decisions of, and/or support from, others including government, regulators, independent system operators, independent power producers, interconnected utilities, partners, investors, customers and Indigenous communities. We will only proceed with forward-looking investments where we can demonstrate to the satisfaction of regulators that such investments are prudent and the most cost-effective solution for customers within the applicable legislative and regulatory regimes.