Plug Power Inc., a leading player in the electricity by hydro industry, is headquartered in the United States. Founded in 1997, the company has established itself as a pioneer in providing innovative hydrogen fuel cell systems, primarily for the material handling and stationary power markets. With a focus on sustainable energy solutions, Plug Power has made significant strides in developing green hydrogen production and fuel cell technology.
The company operates extensively across North America and Europe, delivering unique products that enhance energy efficiency and reduce carbon emissions. Notable achievements include partnerships with major corporations and a growing portfolio of patents that underscore its market position. Plug Power's commitment to advancing clean energy solutions positions it as a key contributor to the transition towards a more sustainable future.
+2 vs industry average
Plug Power’s score of 11 is higher than 52% 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
Hydropower Generation is among the most carbon-intensive industries
Industry performance
The Hydropower Generation industry has reduced its overall emissions by 38% since 2019
Emissions trajectory 2020 – 2026
Reported emissions
Scope 3 accounts for ••• of total emissions.
Plug Power's reported carbon emissions
Plug Power, based in the US and operating in the Electricity by hydro industry, reported total combined Scope 1 and Scope 2 emissions of approximately 26.3 million kg CO2e for 2023. This figure includes Scope 1 emissions of about 10.2 million kg CO2e and Scope 2 emissions of approximately 16.1 million kg CO2e. In 2022, the company's combined Scope 1 and Scope 2 emissions were around 28.6 million kg CO2e, with Scope 1 emissions at approximately 8.4 million kg CO2e and Scope 2 emissions at roughly 20.1 million kg CO2e. Plug Power has stated its commitment to monitoring and managing emissions responsibly. The company has near-term net-zero commitments for both Scope 1 and Scope 2 emissions, with a target timeframe of 2023 to 2025. While Scope 3 emissions data is not fully disclosed, the company noted missing data points for fuel and energy-related activities.
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Plug Power’s Climate Goals (2030 & 2050)
2 goals2025
We are committed to using our GHG inventory as a tool for mo…
We are committed to using our GHG inventory as a tool for monitoring and managing our emissions to ensure that we are operating in a sustain…
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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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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Plug Power
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