Latvenergo
Latvenergo AS, a leading energy company based in Latvia, has been a cornerstone of the Baltic energy sector since its establishment in 1939. Headquartered in Riga, the company operates primarily in Latvia, with significant activities in Estonia and Lithuania. Specialising in electricity and heat generation, transmission, and distribution, Latvenergo is renowned for its commitment to sustainability and innovation. The company’s core products include electricity supply, thermal energy, and various energy-related services, distinguished by their focus on renewable resources and energy efficiency. Over the years, Latvenergo has achieved notable milestones, including the integration of advanced technologies in its operations, positioning itself as a market leader in the region. With a strong emphasis on customer service and environmental responsibility, Latvenergo continues to play a pivotal role in shaping the future of energy in the Baltic states.
DitchCarbon Score
How does Latvenergo's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Latvenergo's score of 47 is higher than 72% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Latvenergo's reported carbon emissions
In 2024, Latvenergo reported total carbon emissions of approximately 4,308,000,000 kg CO2e. This figure includes Scope 1 emissions of about 780,000,000 kg CO2e, Scope 2 emissions of approximately 114,000,000 kg CO2e (market-based), and a significant contribution from Scope 3 emissions, which totalled around 3,413,000,000 kg CO2e. The Scope 3 emissions breakdown reveals major sources, including fuel and energy-related activities at about 3,034,000,000 kg CO2e. For 2023, the company recorded total emissions of about 3,826,000,000 kg CO2e, with Scope 1 emissions at approximately 717,000,000 kg CO2e and Scope 2 emissions around 107,000,000 kg CO2e (market-based). The Scope 3 emissions for that year were approximately 3,002,000,000 kg CO2e. Latvenergo has set ambitious climate commitments, aiming to reduce direct CO2 emissions by 47% by 2030 compared to 2021 levels. Additionally, the company plans to achieve climate neutrality in electricity generation by 2040. They are also targeting a 20% reduction in Scope 2 greenhouse gas emissions by 2030. Furthermore, the European Commission has provisionally agreed on a target to reduce emissions in the ETS sectors by 62% by 2030 compared to 2005 levels. Overall, Latvenergo is actively working towards significant emissions reductions while increasing the share of renewable energy sources in its electricity generation to 80% by 2030.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 1,251,000,000 | 0,000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 76,000,000 | 00,000,000 | 000,000,000 | 000,000,000 | 0,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | - | - | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Latvenergo is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
