Xcel Energy Sustainability Profile
Xcel Energy, a leading utility provider in the United States, is headquartered in Minneapolis, Minnesota. Founded in 1909, the company has established itself as a key player in the energy sector, serving millions of customers across eight states, including Colorado, Texas, and Minnesota. Xcel Energy operates primarily in the electric and natural gas industries, focusing on sustainable energy solutions and innovative technologies. The company is renowned for its commitment to renewable energy, boasting one of the largest wind energy portfolios in the nation. Xcel Energy's core services include electricity generation, transmission, and distribution, alongside natural gas services, all designed to meet the evolving needs of its customers. With a strong emphasis on sustainability and customer satisfaction, Xcel Energy has received numerous accolades for its environmental initiatives and reliability, solidifying its position as a trusted energy provider in the market.
DitchCarbon Score
How does Xcel Energy'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
Xcel Energy's score of 32 is higher than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Xcel Energy's reported carbon emissions
In 2024, Xcel Energy's total carbon emissions in the US amounted to approximately 55.5 billion kg CO2e, comprising 32.7 billion kg CO2e from Scope 1, 760 million kg CO2e from Scope 2, and 22.1 billion kg CO2e from Scope 3 emissions. This data reflects a significant commitment to reducing carbon emissions, with a target of achieving an 80% reduction by 2030 from a 2005 baseline. This ambitious goal encompasses all scopes of emissions, indicating a comprehensive approach to climate action. Xcel Energy has also set a long-term commitment to become a net-zero provider by 2050, ensuring that their operations remain reliable and cost-effective for customers. The company is leveraging current technologies, including wind, solar, nuclear, and battery storage, to meet these targets. In 2023, Xcel Energy reported Scope 1 emissions of approximately 150.3 million kg CO2e, primarily from fugitive emissions, while Scope 2 emissions data was not disclosed. The company continues to enhance its sustainability efforts, aligning with industry standards and climate commitments to mitigate its environmental impact.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 37,960,000,000 | - |
| Scope 2 | 37,242,000,000 | 00,000,000,000 |
| Scope 3 | 24,260,000,000 | - |
How Carbon Intensive is Xcel Energy's Industry?
How Carbon Intensive is Xcel Energy's Location?
Xcel Energy's Scope 3 Categories Breakdown
Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 24% of total emissions under the GHG Protocol, with detailed category breakdown helping identify key emission sources across their value chain.
Top Scope 3 Categories
Xcel Energy'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.
Xcel Energy 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.
