Meralco · CLP · National Grid — three grids, one lens.
Environmental, social, and governance data for electricity utilities — Meralco (FY2024), CLP (FY2025) and National Grid (FY2025/26). Every figure is taken only from each company's latest official report. N/D = not disclosed · N/A = not applicable.
01 — Snapshot
Portfolio totals & averages
3
Utilities Compared
Meralco · CLP · National Grid
51.2MtCO₂e
Combined S1+S2
⚠ different boundaries
61,179
Combined Workforce
Total employees
2050
Net-Zero Target
Scope 1+2
3 / 3
External Assurance
limited assurance
38–46%
Female Board
disclosed range
Combined Scope 1+2 spans different reporting boundaries — shown for context only, never as a like-for-like total.
02 — Emissions
Operational GHG, as reported
Emissions Visualisation
Absolute GHG emissions (tCO₂e) as reported in each utility's latest official report.
Not a like-for-like comparison. The three utilities differ in scope and scale — Meralco (Philippines, incl. MGen generation), CLP (Asia-equity group) and National Grid (a much larger UK + US T&D group whose Scope 3 is ~53% sold gas). Different boundaries mean larger ≠ worse — use only to read each company's own footprint.
03 — Comparison Matrix
Two views: as-reported & normalised
3 electricity utilities
Do not rank these absolute numbers against each other. Meralco (Philippines distribution + MGen generation), CLP (Asia-centric vertically integrated group, equity basis) and National Grid (a much larger UK + US T&D group) have very different reporting boundaries and scales — larger ≠ worse. Use these only to understand each company's own footprint.
Metric
Meralco
Philippines · FY2024
CLP
Hong Kong · FY2025
National Grid
UK / USA · FY2025/26
Business model
Integrated electric utility (distribution + generation)
Vertically integrated electric utility
Transmission & distribution only
City / climate
Metro Manila — Dense tropical megacity, tropical climate
Hong Kong — Dense vertical city, humid subtropical climate
London (HQ); New York & New England (US) — Large multinational T&D operator; temperate UK + NE US
Reporting period
FY2024
FY2025
FY2025/26
Scope 1
Direct
6.63M tCO₂e
34.36M tCO₂e
5.00M tCO₂e
Scope 2
Energy indirect
2.42M tCO₂e
302.0k tCO₂e
2.51M tCO₂e
Scope 2 basis
Location-based (energy purchased) + system loss
N/D (single Scope 2 figure; location/market basis not labelled)
Location-based (explicitly stated; market-based not reported)
Scope 3
Value chain
37.67M tCO₂e
11.13M tCO₂e
29.50M tCO₂e
Total GHG
46.72M tCO₂e
45.78M tCO₂e
37.02M tCO₂e
SF₆ emissions
Switchgear gas
4.2k tCO₂e
N/D
N/D
Reporting & Assurance
External assurance
DNV
KPMG
Deloitte LLP
Reporting frameworks
GRI 2021GRI G4 Electric UtilitiesSASB (IF-EU)IFRS S2TCFD-aligned
N/D = not disclosedN/A = not applicable to this business modelEmissions in tCO₂e, as reported.
04 — Company Profiles
Business model & headline figures
ME
Manila Electric Company (Meralco)
Metro Manila · FY2024
Integrated electric utility (distribution + generation)
Scope 1
6.63M
Scope 2
2.42M
Net-Zero
N/D
Fem. Board
N/D
Headcount
19.6k
Indep. Dir.
27.3%
GRI 2021GRI G4 Electric UtilitiesSASB (IF-EU)IFRS S2TCFD-alignedAssured
7 data notes & caveats ▾
CRITICAL: the 'One Meralco' report CONSOLIDATES generation via subsidiary MGen (coal/gas), so group Scope 1 (6.63M tCO₂e) is dominated by power GENERATION, not the distribution 'wires' business. At group level Meralco is effectively an integrated utility, not pure distribution.
Scope 2 (2.42M tCO₂e) is dominated by system (distribution) loss emissions: 2.35M tCO₂e.
System loss 5.99% (2024) is the distribution-network loss rate, below the 6.50% regulatory cap.
Carbon intensity (134 tCO₂e/GWh, Scope 1+2) uses a per-GWh denominator; CLP reports per-kWh — convert before comparing.
LTIFR rose to 1.42 (2024) from 0.35 (2023). Figures are equity-adjusted group totals.
No explicit dated net-zero commitment found in the report; targets are 'coal-free by 2050' plus '30 by '30' interim goals.
Community investment: PhP 224M (2024) ≈ S$5.1M at PhP→SGD ≈ 0.0228 (mid-2025, approximate); the native PhP figure is authoritative. CLP reports in HK$ — figures are shown in native currency and not ranked against each other.
CLP is a VERTICALLY INTEGRATED electric utility (generation + transmission + distribution + retail). Scope 1 (34,356 kt) is dominated by power generation it owns. Absolute emissions are only loosely comparable with Meralco given CLP's much wider multinational group boundary.
All ESG figures are CLP GROUP (Hong Kong + Mainland China + Australia + India + Taiwan/SE Asia) on an equity basis — NOT CLP Power Hong Kong alone. CLP Power HK (the Scheme-of-Control business) serves ~2.9M customer accounts and 35,760 GWh of sales but does not publish its own Scope 1/2/3 split.
FY2025 ESG figures are independently assured by KPMG (ISAE 3000 / ISAE 3410).
Carbon intensity 0.50 kg CO₂e/kWh is the S1+S2+S3(Cat3) equity + long-term-purchase basis; the equity-only S1+S2 intensity is 0.58 kg CO₂e/kWh. Meralco reports per-GWh (134 tCO₂e/GWh = 0.134 kg CO₂e/kWh) — convert before comparing.
SF₆ is reported as mass (3 tonnes of SF₆ gas), not in tCO₂e, so the tCO₂e field is shown as N/D to avoid an unlabelled derived value.
System/T&D loss % is N/D (not disclosed); CLP reports reliability indices instead (e.g. supply availability 99.999%). The metric applies to its business — this is N/D, not N/A.
Injury rate uses a per-200,000-work-hours basis — different from Meralco's per-million-hours LTIFR; not directly comparable.
Community figure is the HK$240M CLP Community Energy Saving Fund allocation; a consolidated community-investment total is not disclosed in the Annual Report.
NG
National Grid plc
London (HQ); New York & New England (US) · FY2025/26
SCALE: National Grid is a large MULTINATIONAL utility (UK + USA, ~33,000 employees) — far larger in scale and different in geography from Meralco and CLP. Absolute emission and community totals must NOT be compared directly.
BUSINESS MODEL: predominantly a T&D/networks operator. Scope 1 (5,001 kt) is partly driven by Long Island fossil-fuel generation contracted to LIPA, not core T&D operations. It divested National Grid Renewables and Grain LNG in FY2025/26.
Scope 2 (2,510 kt, location-based) is almost entirely electricity network line losses — the expected profile for a T&D operator. No market-based Scope 2 is reported.
Scope 3 (29,503 kt) is dominated by sold gas (Category 11 = 19,736 kt, ~53% of total footprint) — a fundamentally different Scope 3 profile from Meralco/CLP; not comparable as a single headline.
GHG intensity (425 tCO₂e/£M revenue) is a revenue-based metric — not comparable with CLP's per-kWh or Meralco's per-GWh intensities.
SF₆: absolute value is N/D in the 20-F (only a −43% reduction vs 2018/19 baseline is stated; target −50% by 2030/31). The absolute figure sits in the separate Responsible Business databook, which is blocked to automation.
System/T&D loss %: N/D — line losses are disclosed in GWh (15,111 GWh Group) but not as a percentage of throughput.
Training hours/employee, anti-corruption training %: N/D in the 20-F (in the separate, blocked Responsible Business data tables).
Community figure (£6.8M/yr, GBP) is the Grid for Good fund only; do not aggregate or rank against CLP's HK$ or Meralco's PhP figures.
Independent directors 81.8% (9 of 11) uses the Companies Act basis (8 independent NEDs + Chair independent on appointment); NED-only would be 72.7%.
External assurance by Deloitte LLP (limited assurance, ISAE 3000 / ISAE 3410) on ESG/Responsible Business metrics.
Data taken from the SEC-filed Form 20-F because nationalgrid.com is Cloudflare-blocked to automated access. Fiscal year ends 31 March.
All figures from official company reports only — no estimated or third-party data. Per-company notes & caveats are in the Company Profiles section above.