Climate Change Data

NextEnergy Capital (NEC)

Climate Impact & Sustainability Data (2021, 2023, 2024)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:100%
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change Mitigation
  • Biodiversity
  • Human Rights
  • Supply Chain Responsibility

Environmental Achievements

  • Avoided 328.7 KtCO2e of GHG emissions in 2021
  • Avoided 142.8 ktoe of fossil fuels in 2021
  • Developed a Biodiversity Strategy with Exemplar Sites implementing site-specific measures to enhance native flora and fauna.
  • Implemented Universal Biodiversity Management Plan (UBMP) across 30 sites, aiming for net biodiversity gain.

Social Achievements

  • Community engagement incorporated into investment strategy, including consultation with local parishes and councils during pre-planning phases.
  • Community benefit fund incorporated into the financial profile for each new investment.

Governance Achievements

  • ESG factors integrated into investment decisions, from preliminary screening and exclusion to risk management.
  • Due diligence questionnaires sent to all counterparties (sellers, contractors, and suppliers), screened for AML purposes.
  • Head of ESG present at Investment Committees to ensure ESG-related investment objectives are upheld.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Further rollout of UBMP across additional sites within the next 12 months.

Environmental Challenges

  • Potential significant harms to other environmental objectives (ecosystems, biodiversity, climate change, PV system lifecycle impacts)
  • Limitations of IFI Harmonised Factors (based on country averages/estimates)
  • Limitations of forecasts in estimating emissions avoided.
Mitigation Strategies
  • Due diligence and investment decision-making processes to avoid significant harms to other environmental objectives.
  • Use of internationally recognized IFI Harmonised Conversion Factors, updated periodically by UNFCCC.
  • Actual measure of progress based on actual renewable electricity generated and associated emissions avoided calculations, not solely on forecasts.
  • Biodiversity Strategy and UBMP to mitigate biodiversity impacts.

Supply Chain Management

Supplier Audits: Due diligence questionnaires for module and inverter manufacturers

Responsible Procurement
  • Module framework agreements with reputable manufacturers; ESG considerations integrated into supplier selection.

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: SFDR, EU Taxonomy Regulation, OECD Guidelines for Multinational Enterprises, UN Guiding Principles on Business and Human Rights, UN Sustainable Development Goals, UN Principles for Responsible Investment, IIGCC, TCFD

Certifications: Null

Third-party Assurance: External third-party specialist

UN Sustainable Development Goals

  • Not disclosed

Aligned with UN Sustainable Development Goals; sustainability framework founded on three pillars: biodiversity, climate change, and human rights.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:461.3 tCO2e (2022, excluding financed emissions)

ESG Focus Areas

  • People
  • Nature
  • Prosperity

Environmental Achievements

  • Achieved carbon neutrality in 2024 (excluding financed emissions from funds)
  • Avoided 627,000 tCO2e by NEC’s funds (as of 31 March 2022)
  • Implemented biodiversity management plans on 167 assets
  • ESG due diligence on 10 module manufacturers

Social Achievements

  • 87% of employees felt genuinely supported to take advantage of flexible working policies (September 2023 survey)
  • Appointed a Group H&S Manager to drive improvements in H&S performance
  • Developing a Stakeholder and Community Engagement Plan
  • NextEnergy Foundation raised over £3.2m and committed over £517,300 in grants in 2023

Governance Achievements

  • Commendable progress in the 2023 UN PRI Benchmark Assessment, outperforming the PRI median score in all three categories
  • Five stars in all modules and 100% in the Confidence Building Measures module of the 2023 UN PRI assessment
  • Updating Sustainability Policies and aligning practices with the new Sustainability Strategy
  • Establishing a new internal ESG governance structure at Group and company levels

Climate Goals & Targets

Medium-term Goals:
  • Set emissions reduction targets for each fund in line with SBTi or similar frameworks to achieve net zero before 2050
Short-term Goals:
  • Achieve carbon neutrality in 2024 (excluding financed emissions from funds)

Environmental Challenges

  • Supply chain complexities involving social risks (human rights, labor conditions), environmental concerns (carbon footprint, biodiversity), and governance issues
  • Balancing competing interests in addressing material sustainability challenges and opportunities
Mitigation Strategies
  • Developing a responsible supply chain approach based on three principles: meeting and exceeding standards, due diligence and engagement with partners, and supporting industry best practices
  • Active involvement in collaborative initiatives like the Solar Stewardship Initiative (SSI) to promote supply chain transparency and sustainable sourcing
  • Nurturing protective, collaborative, and innovative environments to advance improved outcomes for the Group and stakeholders

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
  • Avoiding greenhouse gas emissions

Reporting Standards

Frameworks Used: TCFD, ISSB, TNFD, EU SFDR, EU CSRD, UN SDGs, SBTi

Reporting Period: 2024

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Nature/Biodiversity
  • Human Rights
  • Community
  • Governance

Environmental Achievements

  • Not disclosed

Social Achievements

  • Not disclosed

Governance Achievements

  • Not disclosed

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • End-to-end supply chain traceability and full transparency
Mitigation Strategies
  • NEC’s active involvement in cross-sector engagement initiatives supports the wider solar industry to accelerate sustainable and ethical sourcing globally.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • NextEnergy Group’s Code of Conduct for Suppliers

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: UN PRI, TCFD (now superseded by ISSB), ISSB S1 and S2 Standards, TNFD (integrated with ISSB), UN Global Compact

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed