In 2024, Xcel Energy 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).
Xcel Energy has also provided a category-level breakdown for 4 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 | 32,660,000a | 36,180,000b | 37,960,000c | |
Total Scope 2 | ||||
Market-Based | N/A | N/A | N/A | |
Location-Based | N/A | N/A | N/A | |
Unspecified Calculation Method | 760,000a | 310,000b | 740,000c | |
Total Scope 3 | 22,100,000a | 23,320,000b | 24,260,000c | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 2,429.8787a | 2,546.8112b | 2,479.4252c |
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In 2024, the total operational greenhouse gas (GHG) emissions of Xcel Energy amounted to 33,420,000 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 2023, the total operational greenhouse gas (GHG) emissions of Xcel Energy decreased by 8.41%, showing that the company has made progress in taking action to reduce the climate impact of its operations.ab
In 2024, the total Scope 1 emissions of Xcel Energy were 32,660,000 metric tons of CO₂ equivalent (tCO₂e).a
Since 2020, Xcel Energy's Scope 1 emissions have decreased by 56.9%, reflecting a declining long-term trend in Scope 1 emissions over time.ad
Compared to the previous year (2023), Xcel Energy's Scope 1 emissions decreased by 9.73%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.ab
In 2024, Xcel Energy reported Scope 2 greenhouse gas (GHG) emissions of 760,000 tCO₂e without specifying the calculation method.a
Compared to the previous year (2023), Xcel Energy's Scope 2 emissions (Unspecified Calculation Method) rose by 145.16% in 2024, suggesting that the company faced challenges in reducing emissions from purchased electricity and energyab
In 2024, Xcel Energy reported its Scope 2 emissions using an unspecified methodology.a
In 2024, Xcel Energy reported 22,100,000 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 2024 disclosure of Xcel Energy includes a breakdown across 4 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, Xcel Energy reported total Scope 3 emissions of 22,100,000 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 36.29% of these emissions originated from upstream activities such as purchased goods and capital goods, while 63.71% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2020, Xcel Energy's Scope 3 emissions have increased by 71.21%, reflecting a rising long-term trend in Scope 3 emissions over time.ad
Compared to the previous year (2023), Xcel Energy's Scope 3 emissions remained relatively stable, indicating that Xcel Energy's emissions have plateaued with no significant change in its value chain footprint.ab
In 2024, Xcel Energy reported emissions for 4 out of the 15 Scope 3 categories defined by the GHG Protocol.a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
In 2024, the largest contributors to Xcel Energy's Scope 3 emissions were:a
In 2024, Xcel Energy reported Scope 1 greenhouse gas (GHG) emissions of 32,660,000 tCO₂e and total revenues of USD 13,441 millions. This translates into an emissions intensity of 2,429.88 tCO₂e per millions USD.a
In 2024, Xcel Energy reported a Scope 1 emissions intensity of 2,429.88 tCO₂e per millions USD. Compared to the peer group median of 2,141.58, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Xcel Energy ranked 17 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Xcel Energy is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Xcel Energy reported a total carbon footprint of 55,520,000 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 7.17% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.ab
The largest contributor to Xcel Energy's total carbon footprint was Scope 1 emissions, accounting for 58.83% of the company's total carbon footprint, followed by Scope 3 emissions at 39.81%.a