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Created before Nov 2016
Last update: 2022-05-24 00:00:00

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Engie's head office at La Defense, Paris. Photo: Google Earth/Streetview
Sector Coal Electric Power Generation , Biomass Electric Power Generation, Hydroelectric Power Generation
Headquarters
Ownership
listed on Euronext Brussels & Euronext Paris

Engie's complete shareholder structure can be accessed here.

Subsidiaries
Engie Energy Internationl – United Kingdom
Tractebel – Belgium
Website http://www.engie.com

About ENGIE

ENGIE, founded in 2008 and known as GDF SUEZ until April 2015 engages in the power, natural gas, and energy services businesses. The company operates through France Excluding Infrastructures, France Infrastructures, Rest of Europe, Latin America, USA & Canada, Middle East, Asia, & Africa, and Others segments. It provides energy sales and services for buildings and industry, cities and regions, and infrastructures, as well as to individual and professional customers; and operates natural gas transportation, storage, and distribution networks and facilities, and LNG terminals primarily in France, as well as sells access rights to these terminals.

Why this profile?

ENGIE hasn't provided a comprehensive coal phase-out schedule yet which is not in line with the goals of the Paris Agreement. The company aims to convert its coal-fired plants to fossil gas and biomass. Moreover it is supplying and trading 2.5 million tons of biomass annually. The carbon emissions of burning wood to generate energy carries significant climate, environmental as well as economic risks.

Impacts

Environmental and climate impacts

ENGIE's targets are classified in the category 2° Celsius according to the Science Based Target iniative (SBTi) accreditation. This means that Engie's targets are not compatible with the Paris climate agreement, whose goal is to limit global warming well below 2° Celsius. 

Biomass

The planned conversion of coal-fired plants into biomass plants entails further emissions, mainly from the combustion of wood biomass. Wood, for example, in the form of pellets, is the most common form of biomass and, unlike popular belief, is about as harmful to the climate as coal. Global demand for wood pellets for biomass is devastating irreplaceable forest ecosystems. Damaging logging practices such as clear-cutting, and the conversion of natural forests into managed or plantation forests are additionally associated with the trade of biomass. The EU's Joint Research Centre found in this regard that the use of biomass not only leads to higher emissions but also poses a risk to biodiversity and ecosystem health. 

Fossil Gas

ENGIE also plans to use the existing coal-fired plants with fossil gas, which emits less CO2 than coal, but has high methane emissions. Methane is even more harmful to the climate than CO2 and occurs during the exploration, production, transportation and distribution of fossil fuels. Methane is responsible for about 24 percent of global warming and should therefore not be forgotten when considering the use of fossil gas. 

 

Governance

Financiers

Engie is financed through share holder capital. It's top ten shareholders include: Government of France (23.6%), Capital Group (5.81%), Caisse Des Depots & Consignations (4.59%), Engie Employee Stock Ownership Plan (3.20%), Norges Bank (2.42%), BlackRock (1.30%), Wellington Management (0.85%), BNP Paribas (0.84%), Lyxor (0.81%) (Market Screener dated December 14 2021).

Engie has issued several bonds, which were underwritten by several commercial banks:

  • A EUR 750 million bond, September 2020, underwritten by BNP Paribas, Crédit Agricole, Mizuho, Natixis, Société Générale, UniCredit, Barclays, La Banque Postale, NatWest (see below for more details);
  • A EUR 1 billion bond, March 2020, underwritten by 16 commercial banks (see below for details on banks involved).

A complete overview of Engie's outstanding bonds can be accessed here.

Related projects

Projects

There are no projects active for ENGIE now.
on record

Rio Madeira dams: Jirau and Santo Antonio Brazil

Hydroelectric Power Generation

News

| |
Type:
Year:
blog
external news
our news

EU bank hands out billions to companies complicit in burning fossil fuels

The European Investment Bank (EIB) has pumped billions of euros into polluting fossil fuel companies over the past two years despite talking up its climate credentials, new research by Counter Balance and CEE Bankwatch Network reveals.
2022-06-15 | Counter Balance
blog
external news
our news

Proposed conversion of former coal plant to biomass is a high risk for investors, new study shows

Portugal to decide on future of Pego power station by late February
2022-01-27 | Portugal | Biofuelwatch, Environmental Paper Network, Global Forest Coalition, ZERO
blog
external news
our news

Climate: yet another washout from ENGIE

2021-05-19 | Reclaim Finance
blog
external news
our news

Utilities Beyond Fossil Fuels

Case Study: ENGIE
2021-02-04 | Ember
blog
external news
our news

France's Engie Pulls Out of US LNG Deal Talks

2020-11-09 | Energy Intel: Natural Gas Week
blog
external news
our news

Cleaning Up LNG Becomes EU Target in Blow to U.S. Shippers

2020-11-05 | Bloomberg Green
blog
external news
our news

BankTrack Blog: “Green Bond” issue risks raising finance for destructive dams

2014-07-09
blog
external news
our news

“Green Bond” issue risks raising finance for destructive dams

2014-07-09 | Ryan Brightwell – BankTrack, Zachary Hurwitz – International Rivers
blog
external news
our news

Fear of change could precipitate demise of Europe’s energy giants

New report illustrates failure to adapt to changing market conditions
2014-02-27 | Brussels | Greenpeace
blog
external news
our news

Mongolia Selects GDF Suez-led Group to Build 450MW Power Plant

2013-08-26 | Bloomberg
blog
external news
our news

Symbolic funeral for coal at the offices of Deutsche Bank, ING & BNP Paribas

4,000 signatures call for banks to stop financing coal power stations
2011-03-01 | Brussels | Netwerk Vlaanderen
blog
external news
our news

GDF takes control of International Power to form energy giant

2010-08-10 | London/Frankfurt | Reuters
blog
external news
our news

Un projet de GDF-Suez met en danger les dernières tribus isolées d'Amazonie

2010-04-07 | Le Monde
blog
external news
our news

Funcef e Petros cobiçam 10% da Camargo em Jirau

Valor Econômico
2009-08-10 | São Paulo | Amigos da Terra Amazonia Brasileira
blog
external news
our news

Cernavoda nuclear reactor too dangerous to build, says new report

Greenpeace calls on Romanian government to shelve the project
2009-03-10 | Bucharest | Greenpeace International
blog
external news
our news

Greenpeace files illegal state aid complaint for construction of nuclear plants in Romania and Bulgaria

2009-02-25 | Brussels | Friends of the Earth Europe

Documents

Type:
Year:
company documents
2021-05-18 00:00:00

Re-positioning ENGIE for long-term sustainable growth Accelerating in Renewables, committing to Net Zero Carbon by 2045

2021-05-18 00:00:00 | Engie
ngo documents
2018-11-20 00:00:00

Last Gasp - The coal companies making Europe sick

2018-11-20 00:00:00 | Climate Action Network Europe
company documents
2016-05-26 00:00:00

ENGIE media statement on Hazelwood

2016-05-26 00:00:00 | ENGIE
company documents
2016-04-04 00:00:00

ENGIE Hazelwood factsheet

2016-04-04 00:00:00 | ENGIE
annual reports
2014-01-01 00:00:00

GDF 2013 Financial Report

2014-01-01 00:00:00
annual reports
2013-01-01 00:00:00

GDF 2012 Activities Report

2013-01-01 00:00:00

Media




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