In 2024, Ballard Power Systems completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Ballard Power Systems has also provided a category-level breakdown for 5 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 943a | 1,229a | N/A | |
Total Scope 2 | ||||
Market-Based | 245a | 243a | N/A | |
Location-Based | 285a | 265a | 184a | |
Total Scope 3 | 20,803a | 17,472a | 2,206a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 13.5234a | 12.0057a | N/A |
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In 2024, the total operational greenhouse gas (GHG) emissions of Ballard Power Systems amounted to 1,228 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Ballard Power Systems decreased by 17.8%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Ballard Power Systems were 943 metric tons of CO₂ equivalent (tCO₂e).a
Compared to the previous year (2023), Ballard Power Systems's Scope 1 emissions decreased by 23.27%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Ballard Power Systems reported Scope 2 greenhouse gas (GHG) emissions of 245 tCO₂e using the market-based method and 285 tCO₂e using the location-based method.a
Since 2020, Ballard Power Systems's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have remained relatively stable, indicating that Ballard Power Systems's emissions have plateaued with no significant change in its energy consumption footprint.a
Compared to the previous year (2023), Ballard Power Systems's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Ballard Power Systems's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Ballard Power Systems reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Ballard Power Systems reported 20,803 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Ballard Power Systems includes a breakdown across 5 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Ballard Power Systems reported total Scope 3 emissions of 20,803 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 100% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2020, Ballard Power Systems's Scope 3 emissions have increased by 1,953.6%, reflecting a rising long-term trend in Scope 3 emissions over time.a
Compared to the previous year (2023), Ballard Power Systems's Scope 3 emissions increased by 19.06%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2024, Ballard Power Systems reported emissions for 5 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to Ballard Power Systems's Scope 3 emissions were:a
In 2024, Ballard Power Systems reported Scope 1 greenhouse gas (GHG) emissions of 943 tCO₂e and total revenues of USD 70 millions. This translates into an emissions intensity of 13.52 tCO₂e per millions USD.a
In 2024, Ballard Power Systems reported a Scope 1 emissions intensity of 13.52 tCO₂e per millions USD. Compared to the peer group median of 6.66, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Ballard Power Systems ranked 16 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Ballard Power Systems is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Ballard Power Systems reported a total carbon footprint of 22,031 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 16.16% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Ballard Power Systems's total carbon footprint was Scope 3 emissions, accounting for 94.43% of the company's total carbon footprint, followed by Scope 1 emissions at 4.28%.a