Ormat Technologies Sustainability Profile
Ormat Technologies, Inc., a leading player in the renewable energy sector, is headquartered in the United States, with significant operations in regions such as Geothermal and Solar energy markets. Founded in 1965, Ormat has established itself as a pioneer in the development and operation of geothermal power plants, alongside its innovative energy storage solutions. The company’s core offerings include geothermal power generation, recovered energy generation, and energy storage systems, all designed to enhance energy efficiency and sustainability. Ormat's unique approach to harnessing geothermal resources sets it apart in the industry, contributing to its strong market position. With numerous milestones, including the successful deployment of geothermal projects worldwide, Ormat Technologies continues to drive advancements in clean energy, solidifying its reputation as a trusted leader in the renewable energy landscape.
DitchCarbon Score
How does Ormat Technologies'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 from Other Sources 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
Ormat Technologies's score of 40 is higher than 63% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Ormat Technologies's reported carbon emissions
In 2023, Ormat Technologies, headquartered in the US, reported total greenhouse gas emissions of approximately 197,712,000 kg CO2e, which includes 171,778,000 kg CO2e from Scope 1 and 25,934,000 kg CO2e from Scope 2. Additionally, Scope 3 emissions were significant, amounting to about 337,122,000 kg CO2e. This data reflects a comprehensive approach to emissions reporting, covering all three scopes. Ormat has set ambitious climate commitments, aiming for a 5% annual reduction in Scope 1 and 2 emissions intensity (measured in tCO2e/MWh) compared to a 2019 baseline, with a target completion year of 2023. Furthermore, the company has committed to achieving net zero emissions by 2050, a goal that encompasses both Scope 1 and Scope 2 emissions. The company’s emissions data is not cascaded from any parent organisation, ensuring that the reported figures are solely reflective of Ormat Technologies, Inc. As part of its sustainability strategy, Ormat continues to focus on reducing its carbon footprint while enhancing operational efficiency.
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| 2011 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 6,550,000 | 00,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | - | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 000,000,000 |
How Carbon Intensive is Ormat Technologies's Industry?
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Ormat Technologies'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.
Ormat Technologies has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
