Latvenergo Sustainability Profile
Latvenergo AS, a leading energy company based in Latvia, has been a cornerstone of the Baltic energy sector since its establishment in 1939. Headquartered in Riga, the company operates primarily in Latvia, with significant activities in Estonia and Lithuania. Specialising in electricity and heat generation, transmission, and distribution, Latvenergo is renowned for its commitment to sustainability and innovation. The company’s core products include electricity supply, thermal energy, and various energy-related services, distinguished by their focus on renewable resources and energy efficiency. Over the years, Latvenergo has achieved notable milestones, including the integration of advanced technologies in its operations, positioning itself as a market leader in the region. With a strong emphasis on customer service and environmental responsibility, Latvenergo continues to play a pivotal role in shaping the future of energy in the Baltic states.
DitchCarbon Score
How does Latvenergo's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Latvenergo's score of 56 is higher than 71% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Latvenergo's reported carbon emissions
In 2024, Latvenergo reported total carbon emissions of approximately 4,308,000,000 kg CO2e. This includes Scope 1 emissions of about 780,000,000 kg CO2e, primarily from stationary combustion, and Scope 2 emissions of approximately 114,000,000 kg CO2e. The majority of their emissions, around 3,413,000,000 kg CO2e, fall under Scope 3, with significant contributions from fuel and energy-related activities. Latvenergo has set ambitious climate commitments, aiming to reduce direct greenhouse gas emissions by 47% by 2030 compared to 2021 levels. This target applies to both Scope 1 and Scope 2 emissions. Additionally, the company is working towards achieving climate neutrality in electricity generation by 2040. They are also aligned with the European Commission's provisional agreement to reduce emissions in the ETS sectors by 62% by 2030, compared to 2005 levels. The company is focused on increasing the share of renewable energy sources (RES) in its electricity generation to 80% by 2030, further supporting its sustainability goals.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 1,251,000,000 | 0,000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 76,000,000 | - | - | 00,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | - | 000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is Latvenergo's Industry?
How Carbon Intensive is Latvenergo's Location?
Latvenergo's Scope 3 Categories Breakdown
Latvenergo's Scope 3 emissions, which increased by 14% last year and increased significantly since 2021, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 79% of total emissions under the GHG Protocol, with "Fuel and Energy Related Activities" being the largest emissions source at 89% of Scope 3 emissions.
Top Scope 3 Categories
Latvenergo's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Latvenergo has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
