MVM Group, officially known as MVM Magyar Villamos Művek Zrt., is a leading player in the electricity sector headquartered in Hungary. Established in 2008, the company has grown to become a key provider within the electricity and energy industry, serving both domestic and regional markets across Central Europe.
Specialising in electricity generation, transmission, and distribution, MVM is recognised for its comprehensive approach to energy supply and infrastructure development. Its core services include managing power plants, operating transmission networks, and facilitating energy trading, with a focus on sustainable and reliable energy solutions.
As a prominent entity in Hungary’s energy landscape, MVM has achieved notable milestones in expanding its operational capacity and integrating renewable energy sources. Its market position is reinforced by a commitment to innovation and maintaining high standards of service within the electricity and energy sector.
-3 vs industry average
MVM’s score of 13 is lower than 40% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Electricity from Other Sources is among the most carbon-intensive industries
Industry performance
The Electricity from Other Sources industry has reduced its overall emissions by 36% since 2018
Emissions trajectory 2020 – 2026
Reported emissions
Scope 3 accounts for ••• of total emissions.
MVM's reported carbon emissions
MVM, headquartered in Hungary and operating within the electricity sector, reported total carbon emissions of approximately 17,093,745,000 kg CO2e for 2023. This figure encompasses Scope 1, Scope 2, and Scope 3 emissions.
In 2023, MVM's Scope 1 emissions totalled approximately 3,709,801,000 kg CO2e, with stationary combustion accounting for the largest portion. Scope 2 emissions, calculated on a market-based approach, were approximately 80,818,000 kg CO2e, primarily from purchased electricity. Scope 3 emissions for the same year were substantial, reaching approximately 9,398,457,000 kg CO2e.
Looking at previous years, MVM's total carbon emissions in 2022 were approximately 4,465,517,000 kg CO2e (market-based Scope 1 and 2 combined). Scope 1 emissions in 2022 were around 4,392,689,000 kg CO2e, and Scope 2 emissions (market-based) were approximately 72,828,000 kg CO2e. Scope 3 data was not disclosed for 2022.
For 2021, MVM reported Scope 1 and 2 emissions (market-based) of approximately 4,569,866,000 kg CO2e. Scope 1 emissions were approximately 4,517,344,000 kg CO2e, and Scope 2 emissions (market-based) were approximately 52,522,000 kg CO2e. Scope 3 data was not disclosed for 2021.
MVM's climate commitments do not include specific reduction targets publicly available at this time, nor are there disclosed SBTi reduction targets. The organisation's emissions data for 2023, 2022, and 2021 are sourced from its integrated ESG reports.
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MVM’s Climate Goals (2030 & 2050)
No climate goals have been disclosed for MVM yet.
Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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MVM
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