Environmental, Social and Governance (ESG)

The Octopus Renewables mission is to accelerate the transition to a future powered by renewable energy in order to mitigate climate change.

We want to change the world for the better and strive to do business the “right” way. For us, this means considering a wide range of stakeholders when we make important decisions, including our customers, shareholders, employees, the community and the environment.

Our core impact goal is to accelerate the transition to net zero through our investments by building and operating a diversified portfolio of renewable energy assets

Our ESG approach: Performance, Planet and People

Octopus Renewables manages investments on behalf of a wide range of investors. Each Octopus Renewables fund has its own bespoke ESG policy that is reviewed annually, allowing different investors to dictate the direction, depth and breadth of the ESG approach for their investment, all of which must exceed the minimum standard set by the Octopus ESG committee each year.

All of our funds’ ESG Policies are based around our fundamental stakeholder pillars: Performance, Planet and People. This framework embeds ESG risk factors and considerations into investment processes, asset management and reporting, helping us to mitigate ESG risks and measure and track the positive impact that the investments we manage has for investors, the environment and society.

Reporting on ESG

We choose to report our impact through KPIs and in line with the UN Sustainable Development Goals (SDGs). The UN SDGs aim to create a better future for all in relation to ending extreme poverty, fighting inequality and injustice, and protecting our planet by 2030. These SDGs have become part of the universal language for reporting on the impact of investments.

Our Investments contribute directly to the UN SDGs 7 (access to affordable clean energy) and 11 (sustainable cities and communities). With investor support, impact initiatives also enable us to contribute to a broader and deeper set of UN SDGs.

Core SDGs

Additional SDGs

Performance

Financial return and ultimate investment success, mitigating the risk of losses; realised through robust governance structures, rigorous analysis and optimisation activities.

Planet

Environmental considerations for the construction and operation of assets, enhancing environmental potential where possible.

People

Social considerations for local communities, subcontractors, end-customers and employees, promoting a “Just Transition” to clean energy.

Related policies

In addition to fund-specific ESG Policies, Octopus Renewables has policies and processes that support our commitment to ESG matters, including an equal opportunities policy, modern slavery policy, whistleblowing policy and conflicts policy, all overseen by Octopus Group ESG Committee.

Octopus Group is a UN PRI signatory.

ESG in action

Sardinian solar farm, Italy

During construction of eight solar sites in Sardinia, the team replanted displaced olive trees around the sites’ periphery. They also built an improvised kennel for a pregnant stray dog, then housed, vaccinated and rehomed her and her puppies.

Darlington Point solar farm, Australia

During the construction and development of this solar farm, we held a jobs fair to attract local labour, used local restaurants to feed our 400 workers, refurbished the local sports facilities and set up a biodiversity fund.

Hill of Auquhirie wind farm, UK

The Octopus Renewables team took staff and children from Newtonhill Primary School on a trip to see the turbines and learn about wind energy.