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Sustainability Strategy - Explaining the pillars
The launch of EG’s sustainability strategy was a milestone in the changing nature of our company, and for me a huge achievement in making sure that we are supporting our islands energy transition.
When we devised the Sustainability Strategy, we knew we needed a simple way to set out what we were trying to achieve and demonstrate the pathway forward to Net Zero.
This has taken the form of four pillars that show our long-term ambitions for the environment and Net Zero.
Pillar 1: Climate action
This pillar is really where all good sustainability strategising should begin: setting science-based targets and measuring, managing and reducing our emissions.
You can only improve if you know where you’re starting from, and this is only meaningful if you’re measuring the right things in the right way. We have implemented a new science-based carbon emissions reporting process which aligns with best practice international guidelines.
This is such an important part of the journey, and we’re investing in training for all of our employees to make them carbon literate.
Pillar 2: Protect our environment & give back to our community
Our recently launched Together We Can Fund pledges financial support for local charities, initiatives, or projects that contribute to the betterment of the environment and the community.
We’re accepting applications twice a year, with a maximum funding limit of £5,000 per application. These are then reviewed by our Sustainability Working Group, with successful applicants receiving funding.
Alongside this, we’ll be prioritising improvements to our own environmental and social performance by putting in place a sustainability framework: implementing a sustainable procurement code of conduct, annually reporting ESG performance, conducting periodic ESG materiality assessments, and more.
Pillar 3: New energy management products and services
Changing what we do internally is a vital part of our journey to Net Zero, but we also have a role to play in empowering our customers to make changes to their lives. We’re focusing on launching new products and services that support our customers to manage their energy and costs, and play a part in the energy transition, which we know so many people are keen to do.
One of the benefits of raising awareness of environmental issues is that more and more people feel that they want to do something to make a difference, and for many people ‘change begins at home’, quite literally.
Energy management systems are evolving to give people greater control over how they heat their homes, power their devices, and regulate their consumption. This saves money as well as emissions, so can be valuable in more ways than one.
Pillar 4: Cleaner, greener energy
The final pillar is perhaps the most exciting and will result in the greatest change of all; we’re planning to transition the energy we source and supply to lower carbon alternatives.
This will involve developing and trialling a Green Gas Plan to transition to new gas fuels, carefully researching fuels like Biogas and BioLPG and assessing whether they can meet the energy needs of our islands and our customers.
Something that we’re looking into as part of this pillar is mixed energy solutions, which use different sources to best suit the infrastructure and needs of the market. We’d be looking to work closely with the islands’ governments on this workstream to provide the optimum energy mix.
So, there you have it, four pillars for our future. We are ambitious with our targets, but we believe we must be if we want to drive real change. We’re at the start of the journey right now, and we’re excited to keep you updated on our progress.
To find out more about what we’re doing to transition towards Net Zero, and what you could be doing, drop me a line. alex.herschel@i-e-g.com