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 26 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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Xcel Energy's reported carbon emissions
In 2024, Xcel Energy reported significant carbon emissions in the US, with Scope 1 emissions totalling approximately 32,660,000,000 kg CO2e, including 110,000,000 kg CO2e from mobile combustion and 83,939,953.34 kg CO2e from fugitive emissions. Scope 2 emissions were reported at about 760,000,000 kg CO2e, primarily from purchased electricity, while Scope 3 emissions reached approximately 22,100,000,000 kg CO2e. Xcel Energy has set ambitious climate commitments, aiming for an 80% reduction in carbon dioxide emissions by 2030, using technologies such as wind, solar, nuclear, and battery storage. This target applies to both Scope 1 and Scope 2 emissions, with a baseline year of 2005. Furthermore, the company is committed to achieving net-zero emissions across all scopes by 2050, ensuring reliable service and maintaining low customer bills. In 2023, the company reported Scope 2 emissions of approximately 36,286,000,000 kg CO2e globally, while in the US, Scope 1 emissions included about 150,314,670.96 kg CO2e from fugitive sources. The total emissions for the US in 2022 were approximately 18,960,000,000 kg CO2e. Xcel Energy's sustainability efforts are supported by its comprehensive resource plans and commitment to transparency in reporting progress towards these targets.
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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.
