WEC Energy Group Inc
WEC Energy Group's GHG Emissions Data Preview
In 2023, WEC Energy Group 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).
WEC Energy Group has also provided a category-level breakdown for 6 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2023 | 2022 | 2021 | 2020 - 2017 |
|---|---|---|---|---|
Total Scope 1 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | Copy restricted. Please purchase to unlock this data.  c | 0000000 |
Total Scope 2 | ||||
Market-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | Copy restricted. Please purchase to unlock this data.  | 0000000 |
Location-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | Copy restricted. Please purchase to unlock this data.  c | 0000000 |
Total Scope 3 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Total Scope 1 Revenue Intensity (tCO2e/$M) | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | Copy restricted. Please purchase to unlock this data.  c | 0000000 |
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bVerified Sources Behind WEC Energy Group’s Greenhouse Gas (GHG) Emissions Data
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Insights into WEC Energy Group's Operational Emissions
In 2023, the total operational greenhouse gas (GHG) emissions of WEC Energy Group amounted to 19,669,000 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 2022, the total operational greenhouse gas (GHG) emissions of WEC Energy Group increased by 2.97%, suggesting that the company faced challenges in reducing its emissions from its core operations. a b
WEC Energy Group's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are WEC Energy Group's Scope 1 emissions?
In 2023, the total Scope 1 emissions of WEC Energy Group were 19,449,000 metric tons of CO₂ equivalent (tCO₂e). a
Has WEC Energy Group reduced its Scope 1 emissions over time?
Since 2018, WEC Energy Group's Scope 1 emissions have decreased by 28.04%, reflecting a declining long-term trend in Scope 1 emissions over time. a d
Compared to the previous year (2022), WEC Energy Group's Scope 1 emissions increased by 3.06%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations. a b
What are WEC Energy Group's Scope 2 emissions?
In 2023, WEC Energy Group reported Scope 2 greenhouse gas (GHG) emissions of 195,000 tCO₂e using the market-based method and 220,000 tCO₂e using the location-based method. a
Has WEC Energy Group reduced its Scope 2 emissions over time?
Since 2018, WEC Energy Group's Scope 2 greenhouse gas (GHG) emissions ( Location-Based) have increased by 193.33%, reflecting a rising long-term trend in Scope 2 emissions over time. a d
Compared to the previous year (2022), WEC Energy Group's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that WEC Energy Group 's emissions have plateaued with no significant change in its energy consumption footprint. a b
What methodology does WEC Energy Group use for Scope 2 reporting?
In 2023, WEC Energy Group reported its Scope 2 emissions using the market-based method and using the location-based method. a
WEC Energy Group's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
- Total Scope 2 Market-Based
Insights into WEC Energy Group's Value Chain Emissions
In 2023, WEC Energy Group reported 25,739,000 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 2023 disclosure of WEC Energy Group includes a breakdown across 5 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2022, demonstrating consistent Scope 3 emissions reporting coverage year over year. a
WEC Energy Group's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are WEC Energy Group's Scope 3 emissions?
In 2023, WEC Energy Group reported total Scope 3 emissions of 25,739,000 metric tons of CO₂ equivalent (tCO₂e). a
Approximately 27.44% of these emissions originated from upstream activities such as purchased goods and capital goods, while 72.56% came from downstream activities like product use, distribution, and end-of-life treatment. a
Has WEC Energy Group reduced its Scope 3 emissions over time?
Since 2018, WEC Energy Group's Scope 3 emissions have decreased by 19.78%, reflecting a declining long-term trend in Scope 3 emissions over time. a d
Compared to the previous year (2022), WEC Energy Group's Scope 3 emissions remained relatively stable, indicating that WEC Energy Group 's emissions have plateaued with no significant change in its value chain footprint. a
What categories of Scope 3 emissions does WEC Energy Group disclose?
In 2023, WEC Energy Group 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.
What are the main sources of WEC Energy Group's Scope 3 emissions?
In 2023, the largest contributors to WEC Energy Group's Scope 3 emissions were: a
- Use of Sold Products (Cat. 11): 18,245,000 tCO₂e (70.88%)
- Fuel- and Energy-Related Services (Cat. 3): 6,096,000 tCO₂e (23.68%)
- Upstream Transportation and Distribution (Cat. 4): 645,000 tCO₂e (2.51%)
WEC Energy Group's Scope 3 Emissions by Categories
Insights into WEC Energy Group’s GHG Emissions Intensity Compared to Industry Peers
In 2023, WEC Energy Group reported Scope 1 greenhouse gas (GHG) emissions of 19,449,000 tCO₂e and total revenues of USD 8,893 millions. This translates into an emissions intensity of 2,187 tCO₂e per millions USD. a
WEC Energy Group's Scope 1 Emissions Intensity Compared to Peers
How does WEC Energy Group's GHG emissions intensity compare to its peers?
In 2023, WEC Energy Group reported a Scope 1 emissions intensity of 2,187 tCO₂e per millions USD. Compared to the peer group median of 2,153.56 , this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors. a
Where does WEC Energy Group rank on GHG emissions intensity within its industry?
In 2023, WEC Energy Group ranked 14 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD). a
WEC Energy Group is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency. a
Insights into WEC Energy Group's Total Carbon Footprint
In 2023, WEC Energy Group reported a total carbon footprint of 45,408,000 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 4.3% decrease compared to 2022, indicating progress in reducing its overall greenhouse gas output. a b
The largest contributor to WEC Energy Group's total carbon footprint was Scope 3 emissions, accounting for 56.68% of the company's total carbon footprint, followed by Scope 1 emissions at 42.83%. a