Latest Carbon Performance data for electricity utilities and oil & gas companies now available
05 August 2026
Covering 78 electricity utilities and 15 oil & gas companies
The latest Carbon Performance data for the world’s largest electricity utilities and oil & gas companies are now available. This update covers 78 electricity utility companies and 15 oil & gas companies1. As of July, these electricity and oil & gas companies represent a market capitalisation of $1.3 trillion and $350 billion, respectively2.
Power generation and oil & gas are among the most carbon-intensive industries. According to the International Energy Agency (IEA), in 2024, the power sector accounted for 41% of global CO₂ emissions from energy and industrial processes. Over half of global electricity was generated using fossil fuels and a third from using renewable energy sources. Meanwhile, half of global CO₂ emissions in 2024 were attributable to oil & gas combustion which represents the Scope 3 emissions of oil & gas producers3.
The TPI Global Climate Transition Centre (TPI Centre) methodology assesses historical and projected GHG emissions, comparing them against sector-specific benchmarks to evaluate their alignment with the goals of the Paris Agreement.
The TPI Centre is the academic partner of the Transition Pathway Initiative (TPI), a global investor-led initiative supported by over 155 asset owners and asset managers. Based at the London School of Economics and Political Science, it is an independent and authoritative source of research and data on the progress being made by corporate and sovereign entities in the transition to a low-carbon economy.
1 These assessments cover TPI companies outside the Climate Action 100+ (CA100+) universe, allowing earlier publication of results. This ensures investors have up-to-date data well ahead of the typical Q3 publication of CA100+ company assessments.
- Electricity utilities companies assessed in this cycle are: Algonquin Power & Utilities, Alliant Energy, Axia Energia, Berkshire Hathaway, Black Hills, CEMIG, CK Infrastructure, CLP, CMS Energy, Canadian Utilities, Capital Power, CenterPoint Energy, China National Nuclear Power, China Power International Development, China Resources Power, China Yangtze Power, Chubu Electric Power, Chugoku, Cia Paranaense de Energia, Clearway Energy, Con Edison, DTE Energy, Drax Group, Dubai Electricity and Water Authority, EDP, EGCO, Edison International, Electric Power Development, Elia Group, Emera, Enbw Energie, Endesa, Enel Americas, Energisa, Eneva, Engie Brasil, Enlight Renewable Energy, Entergy, Evergy, Eversource Energy, Fortis, Orron Energy, Huadian Power International, Global Power Synergy, Gulf Energy Development, Hawaiian Electric, Hera, Hydro One, Exelon, Idacorp, Interconexion Electrica, JSW Energy, Kansai Elec Power, Kyushu Elec Power, Manila Electric, Mercury, Meridian Energy, Neoen, NiSource, Northwestern, OGE Energy, Orsted, PG&E, Pinnacle West Capital, Portland General Electric, Power Grid Corp of India, Public Service Enterprise Group, Red Electrica, Saudi Energy, Sempra Energy, TEPCO, Tenaga Nasional, Tennessee Valley Authority, Terna, Tohoku Elec Power, Uniper, Vattenfall, and Verbund AG.
- Oil & gas companies assessed in this cycle are: APA Corporation, Ampol, Bharat Petroleum, Cenovus Energy, Coterra Energy, Devon Energy, Diamondback Energy, Galp Energia, HF Sinclair, Hess, INPEX, Idemitsu Kosan, Neste, Orron Energy, and Ovintiv.
2 Market capitalisation coverage is calculated for the companies for which this sector represents their primary activity. The calculation can change due to fluctuating corporate valuations, the size of the company universe assessed, or due to company sectoral reclassifications. Companies with a Not Assessed alignment were excluded from the total market capitalisation.
3 We do not add emissions from the power and oil & gas sectors to estimate their combined contribution to global CO₂ emissions, since some oil & gas use-phase emissions are already included within the power sector. Adding them together would result in double-counting end-use combustion emissions.
The relevant methodologies for each sector are at the bottom of this article. Please note that, where applicable, electricity utilities may also be compared against regional benchmarks in our tool - see the “Regional Benchmarks” on the company webpage. This applies when a utility derives more than 90% of its revenue from one of the four defined regions (European Union, North America, OECD and non-OECD), as outlined in our methodology note below.