Xcel Energy Inc
Xcel Energy's GHG Emissions Data Preview
In 2023, 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 3 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.  | 0000000 |
Total Scope 2 | ||||
Market-Based | Copy restricted. Please purchase to unlock this data. | Copy restricted. Please purchase to unlock this data. | Copy restricted. Please purchase to unlock this data. | 0000000 |
Location-Based | Copy restricted. Please purchase to unlock this data. | Copy restricted. Please purchase to unlock this data. | Copy restricted. Please purchase to unlock this data. | 0000000 |
Unspecified Calculation Method | 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 |
Total Scope 3 | 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 |
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. | 0000000 |
a
b
aVerified Sources Behind Xcel Energy’s Greenhouse Gas (GHG) Emissions Data
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Insights into Xcel Energy's Operational Emissions
In 2023, the total operational greenhouse gas (GHG) emissions of Xcel Energy amounted to 36,490,000 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 Xcel Energy decreased by 5.71%, showing that the company has made progress in taking action to reduce the climate impact of its operations. a b
Xcel Energy's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are Xcel Energy's Scope 1 emissions?
In 2023, the total Scope 1 emissions of Xcel Energy were 36,180,000 metric tons of CO₂ equivalent (tCO₂e). a
Has Xcel Energy reduced its Scope 1 emissions over time?
Since 2020, Xcel Energy's Scope 1 emissions have decreased by 6.91%, reflecting a declining long-term trend in Scope 1 emissions over time. a c
Compared to the previous year (2022), Xcel Energy's Scope 1 emissions decreased by 4.69%, highlighting the company's efforts to lower direct emissions from assets it owns or controls. a b
What are Xcel Energy's Scope 2 emissions?
In 2023, Xcel Energy reported Scope 2 greenhouse gas (GHG) emissions of 310,000 tCO₂e without specifying the calculation method. a
Has Xcel Energy reduced its Scope 2 emissions over time?
Compared to the previous year (2022), Xcel Energy's Scope 2 emissions (Unspecified Calculation Method) fell by 58.11% in 2023, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption. a b
What methodology does Xcel Energy use for Scope 2 reporting?
In 2023, Xcel Energy reported its Scope 2 emissions using an unspecified methodology. a
Xcel Energy's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
- Total Scope 2 Market-Based
- Total Scope 2 (Unspecified Calculation Method)
Insights into Xcel Energy's Value Chain Emissions
In 2023, Xcel Energy reported 23,320,000 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 Xcel Energy includes a breakdown across 3 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
Xcel Energy's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are Xcel Energy's Scope 3 emissions?
In 2023, Xcel Energy reported total Scope 3 emissions of 23,320,000 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
Has Xcel Energy reduced its Scope 3 emissions over time?
Since 2020, Xcel Energy's Scope 3 emissions have increased by 260.85%, reflecting a rising long-term trend in Scope 3 emissions over time. a c
Compared to the previous year (2022), 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. a b
What categories of Scope 3 emissions does Xcel Energy disclose?
In 2023, Xcel Energy reported emissions for 3 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.
What are the main sources of Xcel Energy's Scope 3 emissions?
In 2023, the largest contributors to Xcel Energy's Scope 3 emissions were: a
- Fuel- and Energy-Related Services (Cat. 3): 23,300,000 tCO₂e (99.91%)
- Business Travel (Cat. 6): 10,000 tCO₂e (0.04%)
- Employee Commuting (Cat. 7): 10,000 tCO₂e (0.04%)
Xcel Energy's Scope 3 Emissions by Categories
Insights into Xcel Energy’s GHG Emissions Intensity Compared to Industry Peers
In 2023, Xcel Energy reported Scope 1 greenhouse gas (GHG) emissions of 36,180,000 tCO₂e and total revenues of USD 14,206 millions. This translates into an emissions intensity of 2,546.81 tCO₂e per millions USD. a
Xcel Energy's Scope 1 Emissions Intensity Compared to Peers
How does Xcel Energy's GHG emissions intensity compare to its peers?
In 2023, Xcel Energy reported a Scope 1 emissions intensity of 2,546.81 tCO₂e per millions USD. Compared to the peer group median of 2,049.61 , this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors. a
Where does Xcel Energy rank on GHG emissions intensity within its industry?
In 2023, Xcel Energy ranked 18 out of 23 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
Insights into Xcel Energy's Total Carbon Footprint
In 2023, Xcel Energy reported a total carbon footprint of 59,810,000 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 5% decrease compared to 2022, indicating progress in reducing its overall greenhouse gas output. a b
The largest contributor to Xcel Energy's total carbon footprint was Scope 1 emissions, accounting for 60.49% of the company's total carbon footprint, followed by Scope 3 emissions at 38.99%. a