MGE Energy, Inc. Sustainability Profile
MGE Energy, Inc., commonly referred to as MGE, is a prominent utility holding company headquartered in the United States. Established in 1855, MGE has evolved into a key player in the energy sector, primarily serving the Madison, Wisconsin area and surrounding regions. The company operates within the electric and natural gas industries, providing reliable energy solutions to residential, commercial, and industrial customers. MGE Energy is renowned for its commitment to sustainability and innovation, offering a diverse range of services that include electricity generation, natural gas distribution, and renewable energy initiatives. With a strong focus on clean energy, MGE has made significant strides in reducing carbon emissions and enhancing energy efficiency. As a leader in the market, MGE Energy has received numerous accolades for its environmental stewardship and customer service excellence, solidifying its position as a trusted energy provider in the region.
DitchCarbon Score
How does MGE Energy, Inc.'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 Electricity Distribution 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
MGE Energy, Inc.'s score of 14 is lower than 55% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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MGE Energy, Inc.'s reported carbon emissions
In 2023, MGE Energy, Inc. reported total carbon emissions of approximately 1,637,171,000 kg CO2e from Scope 1, 6,690,000 kg CO2e from Scope 2, and 1,364,922,000 kg CO2e from Scope 3 emissions, specifically from the use of sold products. This reflects a slight increase in Scope 1 emissions from 2022, which were about 1,605,357,000 kg CO2e, while Scope 2 emissions remained consistent at 6,690,000 kg CO2e for both years. The Scope 3 emissions also increased from approximately 1,309,834,200 kg CO2e in 2022. MGE Energy has not disclosed any specific reduction targets or initiatives as part of their climate commitments. The company does not appear to have cascaded data from any parent organisation, indicating that all reported emissions data is directly sourced from MGE Energy, Inc. Overall, MGE Energy's emissions profile highlights the significant impact of their operations, particularly in Scope 1 and Scope 3 emissions, while their lack of defined reduction targets suggests an area for potential improvement in their climate strategy.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 1,605,357,000 | 0,000,000,000 |
| Scope 2 | 6,690,000 | 0,000,000 |
| Scope 3 | 1,309,834,200 | 0,000,000,000 |
How Carbon Intensive is MGE Energy, Inc.'s Industry?
How Carbon Intensive is MGE Energy, Inc.'s Location?
MGE Energy, Inc.'s Scope 3 Categories Breakdown
MGE Energy, Inc.'s Scope 3 emissions, which increased by 4% last year and increased by approximately 4% since 2022, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 45% of total emissions under the GHG Protocol, with "Use of Sold Products" representing nearly all of their reported Scope 3 footprint.
Top Scope 3 Categories
MGE Energy, Inc.'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.
MGE Energy, Inc. 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.
