We actively contribute to the public debate on sustainable finance and engage in dialogue with leading sustainability rating agencies. Our sustainable financial instruments underpin our corporate strategy to develop into a sustainable and innovative infrastructure partner.

ESG ratings

EnBW is regularly rated in the areas of sustainability and finance by various rating agencies.

We liaise closely with leading sustainability rating agencies and incorporate their analyses and assessments of our corporate strategy, situation and prospects in our decision-making. We seek to continuously improve our ratings with recognized agencies in the field of sustainability. In this way, we aim to strengthen our positioning as a responsible and sustainable company and also appeal to financial investors whose investment decisions are wholly or partly based on sustainability criteria.

In 2020, we maintained or improved our scores within the energy industry on most major environmental, social and governance (ESG) sustainability ratings.

EnBW ESG ratings

CDP | B (Management)

In the CDP climate change rating, we were assessed with a score of B in 2022 (scale A to D-). We thus achieved management status.

Further information

CDP Climate Change 2021

ISS ESG I B (Prime Status)

In the ISS ESG Rating, we were awarded a score of B in October 2021, thus achieving an improvement from the previous score of B- (scale A+ to D-). B is the current (as of October 2021) top rating awarded within the "Multi Utilities" sector (61 companies in total). This puts us in the top 10 % of this sector and we continue to be awarded Prime Status.

Further information

MSCI | A (Average)

In 2021, we were assessed with a score of A (average) in the MSCI ESG Rating. EnBW achieves an average result in the "Utilities" sector.

Further information

Sustainalytics │ 27.7 (Medium Risk)

In the Sustainalytics ESG Risk Rating, we achieved an improvement from the previous score of 31.0 to 27.7 (scale 0 to 40+) in 2022 and are classified as "Medium Risk". As a result, we have a place among the top 33 % of the "Industry Utilities" worldwide.

Further information

EnBW rating history

CDP	ISS ESG	MSCI	Sustainalytics²
CDP A (2020)	ISS ESG B- (2020)	MSCI AA (2020)	Sustainalytics² 32.8 (2020)²
CDP B (2019)	ISS ESG B- (2019)	MSCI AA (2019)	Sustainalytics² 77 (2019)
CDP B (2018)	ISS ESG B- (2018)	MSCI AA (2018)	Sustainalytics² 73 (2018)
CDP A- (2017)	ISS ESG B- (2017)	MSCI AA (2017)	Sustainalytics² 68 (2017)

² Scores until 2019 based on the Sustainalytics ESG Rating methodology, which was replaced by the Sustainalytics Risk Rating in 2020.

Sustainability management

Here you can find full information on our sustainability management.

Sustainability reporting

Here you can find full information on our sustainability reporting.

Sustainability guidelines

Here you can find an overview of our sustainability guidelines.