Mentions of ESG increased by a CAGR of 16% in the power industry since 2020

The global power industry experienced an 16% rise in compound annual growth rate (CAGR) in company filings mentions of ESG since 2020. Key companies in terms of mentions include Enel, SSE and Endesa, according to GlobalData’s analysis of over 11,000 power company filings.

Notably, since 2020, environment was the most referenced ESG theme in terms of mentions, ahead of governance and social, according to GlobalData's Company Filings database. Mentions related to ESG increased by 15% year-on-year in 2021, but decreased by 2% year-on-year in 2022.

Of the 50 leading companies in the power industry, Siemens had the highest year-on-year increase in references to ESG in 2022. GlobalData identified 2,859 ESG-related sentences in the company's filings in 2022, 1% of all sentences. Meanwhile, EDP Renovaveis had the highest year-on-year increase in references for ESG in 2021. GlobalData identified 1,440 ESG related sentences in the company's filings in 2021, 1% of all sentences.

GlobalData’s Company Filings Analytics also applies a sentiment weight to reference sentences, based on how positive the sentiment has turned. Sentiment score is based on the level of positivity on a scale of 0 to 1. The average sentiment score for ESG in 2022 was 0.74, which was more positive compared to the average industry sentiment of 0.63.