Engagement history

In 2019, Aberdeen Standard Investments, with the backing of the CA100+, engaged with E.ON on the need for the German utility company to develop a commitment to net-zero emissions. E.ON enhanced a number of its climate goals after this engagement, adopting a target of net-zero emissions in its energy usage by 2040 and net-zero emissions in the energy it supplies by 2050, including downstream emissions. Its also adopted an ambitious interim target, of achieving a 75% reduction in Scope 1 and 2 emissions by 2030. Not all of this can be attributed to Aberdeen Standard, however: Germany’s ongoing low-carbon transition, its Energiewende, places significant regulatory pressure on utilities. Future engagers could encourage E.ON to reduce its Scope 3 emissions, as they continue to buy and distribute electricity generated by fossil fuels.