California AB 1305 Disclosure Statement
The following disclosures are made in compliance with California AB 1305. References to “we” or “our” refer to Électricité de France S.A. (“EDF Group”) and its subsidiaries.
Project- or System-Related GHG Emission Reduction Claims
Project- or system-related GHG emission reduction claims are based on projected or actual annual asset electricity generation and emission factors from the U.S. Energy Information Administration’s Residential Energy Consumption Survey and the U.S. Environmental Protection Agency’s Greenhouse Gas Equivalencies Calculator.
GHG Emission Reduction Equivalency Claims
GHG emission reduction equivalency claims (e.g., claims that a GHG emission reduction is equivalent to removing a certain number of cars from the road) are based on calculations obtained using the EPA’s Greenhouse Gas Equivalencies Calculator located at https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator.
“Zero-Carbon” Claims and Other Similar Claims
The terms “zero-carbon electricity,” “carbon-free electricity,” “zero-emission electricity” or similar terms refer to the production of electricity without direct greenhouse gas emissions. The terms “low-carbon electricity,” “low-carbon energy” or similar terms refer to energy production with a carbon intensity of less than 100 gCO2/kWh.
GHG Emissions Goals
| Goal* | How Interim Progress Is Being Measured |
| Convert fleet to electric vehicles (“EVs”) by 2030 (EDF Renewables, Inc.) | EV fleet is being out rolled out one region at a time; fleet is projected to be fully electric in 2028 to allow time to convert any remaining gas vehicles to EVs. |
| Reduce absolute Scope 1 and 2 GHG emissions by 50% by 2030 from a 2017 base year and reduce absolute Scope 3 GHG emissions from use of sold product 28% by 2030 from a 2019 base year (EDF Group) | Please see Moody’s Net Zero Assessment for EDF Group, which can be accessed here: Moody’s Net Zero Assessment_EDF. |
| Reduce Scope 1 GHG emissions by 60% by 2025 from a 2017 base year (EDF Group) | Please see Moody’s Net Zero Assessment for EDF Group, which can be accessed here: Moody’s Net Zero Assessment_EDF. |
| Reduce Scope 1 GHG emissions by 70% by 2030 from a 2017 base year and achieve a carbon intensity of 30gCO2/kWh (EDF Group) | Please see Moody’s Net Zero Assessment for EDF Group, which can be accessed here: Moody’s Net Zero Assessment_EDF. |
| Reduce Scope 1 GHG emissions by 80% by 2035 from a 2017 base year and achieve a carbon intensity of 22gCO2/kWh (EDF Group) | Please see Moody’s Net Zero Assessment for EDF Group, which can be accessed here: Moody’s Net Zero Assessment_EDF. |
| Achieve net zero GHG emissions by 2050 (EDF Group) | Please see Moody’s Net Zero Assessment for EDF Group, which can be accessed here: Moody’s Net Zero Assessment_EDF. |
* In each case, (i) the specific entity that has set the goal is indicated in parentheses and (ii) EDF Group’s subsidiaries are included within the scope of the goal.
Independent Third-Party Verification
Independent third-party verification of data or claims has not been obtained.
Forward-Looking Statements
Certain statements in this Disclosure Statement constitute “forward-looking statements.” These statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions, or projections regarding future events or results, including, but not limited to, our goals, strategies, and initiatives; our business plans and strategy; our technology and services; and the growth of our business. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Actual results, levels of activity, performance, achievements, and events could differ materially from those stated, anticipated, or implied by such forward-looking statements. While we believe that our assumptions are reasonable, there are many risks and uncertainties that could cause actual results to differ materially from forward-looking statements, including among others, an unanticipated increase in the cost or other resources required to achieve our goals; failure to retain or hire personnel with the necessary skills to make progress against our goals; the risk that the technologies needed to implement our goals do not advance at a sufficient pace or are not cost effective; incomplete or inaccurate data; changes to the standards used for measuring progress against our goals; the evolution of internal controls and other processes used to oversee and manage our goals; and changes to the assumptions that we used in setting our goals. We undertake no obligation to update or revise any forward-looking statement contained in this Disclosure Statement, except as otherwise required by law.