Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity
• Human Rights

Environmental Achievements

• Avoided emissions of 1,794 kt CO2e (equivalent to removing over 593,000 petrol cars from the road and powering over 1 million homes sustainably) from 2014-2021.
• Generated over 4,000 GWh of clean energy globally since 2014.
• Developed biodiversity management plans for several projects and implemented plans at existing sites. Around 45% of NESF and NPIII portfolios have biodiversity management plans in place.
• Implemented water-use efficiency measures at assets with moderate to high water stress.

Social Achievements

• Donated 50% of Christmas budget to support marginalized elderly, vulnerable children, and struggling families.
• Supported various organizations providing food parcels, hot meals, and laptops to facilitate children's studies.
• Created jobs during construction and operational phases of solar PV plants.
• Engaged with regional industry associations to address human rights issues in the solar industry.
• Signed SEIA Labour Prevention Pledge and SEUK Supply Chain Statement.
• Developed an Accommodation Management Plan to mitigate social impacts of migrant workers in Chile.

Governance Achievements

• Improved transparency on ESG approach by complying with SFDR requirements.
• Disclosed relevant information on website, annual reports, and pre-contractual disclosures.
• Implemented a stringent ‘No-Go’ procedure to protect cultural and natural heritage.
• Developed a specific due diligence questionnaire assessing suppliers’ approach to ESG issues.

Climate Goals & Targets

Environmental Challenges

• Difficulty in obtaining transparent and verifiable information from tier 2 and tier 3 suppliers regarding slave labor and working conditions.
• High water consumption in some Indian portfolio assets due to increased panel washing frequency.

Mitigation Strategies

• Active role with Solar Energy UK (SEUK) to collectively address supply chain transparency issues.
• Working with Wise technical team to investigate ways to reduce water consumption (e.g., rainwater harvesting).

Supply Chain Management

Supplier Audits: 23 contractors responded to survey on slave labor and protection of minorities; 52% (12 contractors) have clauses against slave labor and clauses on the protection of minorities within their labor contracts.

Responsible Procurement

• Code of Conduct for Suppliers
• Due Diligence Questionnaire for Suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN SDGs, EU SFDR

UN Sustainable Development Goals

• 1
• 3
• 6
• 7
• 8
• 9
• 11
• 12
• 13
• 15

The report details how NextEnergy Capital's investments and NextEnergy Foundation's projects contribute to these SDGs.

Environmental Metrics

ESG Focus Areas

• Climate change
• Biodiversity
• Human rights

Environmental Achievements

• Avoided 328,700 tonnes of CO2e emissions p.a.
• Avoided 769.1 tonnes of oil equivalent since 2015
• 4MW of solar panels sold for reuse
• Surveyed over 72% of the UK portfolio with drone thermography (2.23 million modules, 591MW capacity)
• 30 sites with Universal Biodiversity Management Plans (UBMPs), 6 Exemplar sites

Social Achievements

• £91,400 community funding through SPVs
• £100,000 donated to the NextEnergy Foundation
• Outreach work with local schools
• Community giving project with BizGive

Governance Achievements

• Established a new NESF ESG Committee
• Developed and implemented a Code of Conduct for Suppliers
• Published first TCFD report

Climate Goals & Targets

Environmental Challenges

• Supply chain transparency and quantification of Scope 3 emissions
• Water stress in some areas
• Visibility and quantification of supply chain and fabrication-related emissions

Mitigation Strategies

• Amending Code of Conduct for Suppliers to account for Scope 3 emissions
• Engaging with third-party assurance specialists
• Utilizing specialist third parties for lifecycle emissions estimates
• Regular contact with suppliers to improve data transparency
• Reviewing mitigation measures to responsibly source water requirements

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Code of Conduct for Suppliers
• ESG due diligence for contractors
• Participation in Solar Stewardship Initiative (SSI)

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Flooding
• Changes in precipitation patterns
• Water stress

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Contribution to climate change mitigation

Reporting Standards

Frameworks Used: TCFD, UN SDGs, EU SFDR

Certifications: Guernsey Green Fund Status

Third-party Assurance: Grant Thornton (for Guernsey Green Fund Status)

UN Sustainable Development Goals

• Not disclosed

The report mentions alignment with relevant UN SDGs but doesn't specify which ones.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• London Stock Exchange Green Economy Mark
• Guernsey Green Fund Status

Environmental Metrics

ESG Focus Areas

• People
• Nature
• Prosperity

Environmental Achievements

• Achieved Net Zero in 2024 (excluding financed emissions from funds)
• Reported Scope 1, 2, and 3 carbon emissions for the first time
• Avoided 627,000 ktCO2e by NEC’s funds in 2023
• Developed a Nature Plan aligned with TNFD framework
• Implemented biodiversity management plans across 67 assets

Social Achievements

• 87% of employees felt genuinely supported by flexible working policies (2023 Employee Engagement Survey)
• Developed a Stakeholder and Community Engagement Plan
• NextEnergy Foundation raised over £3.2m and committed over £517,300 in grants in 2023
• Appointed a Group H&S Manager to improve H&S performance

Governance Achievements

• Established a new internal ESG governance structure at Group and company levels
• Commendable progress in the 2023 UN PRI Benchmark Assessment, significantly outperforming the PRI median score
• NEC scored five stars in all modules and 100% in the Confidence Building Measures module

Climate Goals & Targets

Environmental Challenges

• Supply chain complexities involving social risks (human rights, labor conditions), environmental impacts (carbon footprint, biodiversity), and governance considerations
• Underrepresentation of women in the solar industry and financial services

Mitigation Strategies

• Developing a more structured approach to stakeholder and community engagement
• Strengthening responsible supply chain approach
• Working with EPC and O&M contractors to monitor and disclose social KPIs
• Developing a Group approach to circularity in the solar value chain
• Working with a third-party climate data specialist to understand and improve Scope 1, 2, and 3 emissions profiles

Supply Chain Management

Responsible Procurement

• Adherence to Equator Principles, ILO Conventions, IFC Performance Standards, OECD Guidelines, UN Universal Declaration of Human Rights, UN Guiding Principles on Business and Human Rights, and UN Global Compact

Climate-Related Risks & Opportunities

Opportunities

• Generating investment revenue from nature-positive solutions

Reporting Standards

Frameworks Used: TCFD, ISSB, TNFD, UN PRI, EU SFDR, EU CSRD, EU CSDDD, SBTi, PCAF, UK Transition Plan Taskforce