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Ventient Energy releases Sustainability Report for 2023 detailing ESG performance

Business  |  May 30, 2024

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  • Ventient Energy releases Sustainability…

Our Sustainability Report for 2023 is here, revealing our Environmental, Social, and Governance (ESG) impact, achievements, and progress throughout the year. And what a year it was. Internally, we announced the combination of our business with Renantis (part of the same institutional investment fund as Ventient), while also retaining our 5-star GRESB rating and sector-leader status.

Externally, we saw global temperature records broken and the impacts of climate change amplified to unprecedented levels. This increasingly evident reality drove us to implement robust climate action, working to increase our positive impact on people and the planet.

A big area of focus in this regard was the most challenging aspect of our climate impact, scope 3 emissions. We improved our methodology, engaged with our suppliers more actively, and built real-world data into our scope 3 calculations, increasing the accuracy and consistency of our greenhouse gas emissions reporting.

View our 2023 Sustainability Report

One combined company, two reports for 2023 – why?

Ventient and Renantis are now one combined organisation, but throughout 2023 we were two separate entities, which is why we are each issuing a Sustainability Report.

What’s inside the report?

You’ll discover Ventient’s ESG performance in 2023, as well as the vision, strategy, and annual plan upon which our performance was measured. You’ll see how we’ve limited the negative impacts of our operations on the world, get clarity on our Greenhouse Gas Emissions (GHG), explore our unwavering commitment to communities, and understand how we sustained good corporate governance while effectively managing business risks.

The highlights

Throughout 2023 we took many positive steps in our environmental and social stewardship, enabling our people to amplify their own individual impact, and delivering tangible benefits to the communities that host our plants. Here’s some of the highlights:

  • 6,193 GWh of renewable energy generated, which equates to 966,265 tCO2e of avoided emissions
  • More than 90% of waste diverted from landfill across the portfolio
  • 840 volunteer hours undertaken by employees, up from 68 in 2022
  • 98% of Portuguese wind farms now harvesting rainwater, saving a total of 136m3 of mains water
  • 40% increase in community projects supported through the ESG Fund, compared to 2022
  • 71% of all employees completed ESG training
  • 96% of employees completed cybersecurity training, with no reported cybersecurity incidents

Read the full Report

How do you create a Sustainability Report?

How do you put together a robust and transparent Sustainability Report for pan-European renewable energy business? Our ESG Manager, Holly Backhurst, reveals all:

Data is a top priority

You can’t manage what you can’t measure, so we significantly improved the quality of our ESG data which established a strong foundation for target setting in the coming years.

Engage with suppliers

We continued to engage with our supply chain on scope 3 emissions, collecting real-world data and refining our calculation methodology – leading to a more robust and accurate base year carbon footprint.

Engage with employees

We ran ESG training sessions and eight employee volunteering events and to raise awareness and contribute towards environmental and social goals.

Identify opportunities

We established an Emissions Reduction Working Group to identify emission reduction opportunities across the business, resulting in the development of a Climate Transition Proposal, designed to inform ongoing development of the business strategy.

Understand climate risks

We conducted a fresh climate risk and opportunity assessment to better understand and manage the impacts of climate change on our business.

Bring people together

We established a committee of team members to collaborate on cross-functional ESG matters and lead our 2023 GRESB submission.

Looking forward

We’re already halfway into 2024 and Ventient and Renantis are now working as a combined business to take our ESG performance to the next level. This began in 2023, when we started to think about our combined potential and the impact we could have together, as our CEO, Toni Volpe, explains:

“Recognising the importance of our climate impact in 2023, we engaged in a joint strategic project to align our methodology for calculating scope 3 emissions, collaborated in joint community forums, and joined forces with one another. We began learning from our different cultures, new languages and working habits, and laying the foundations for the prosperous, diverse and multinational organisation we have now become.”

Without a doubt 2023 saw profound internal transformation for both Ventient and Renantis, but rather than distracting us from our ESG commitments, our combination has energised us even more, revealing opportunities to further enhance our impact in the coming years.

View the Ventient 2023 Sustainability Report

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About Ventient Energy

Ventient Energy is one of the leading independent generators of renewable energy in Europe.