Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity, Equity, and Inclusion
• Health and Safety
• Community Engagement
• Sustainable Procurement
• Responsible Business Practices

Environmental Achievements

• Avoided over 23 million tonnes of CO2 emissions in 2023
• Supported afforestation and forest conservation projects offsetting direct and indirect emissions
• Achieved nearly waste-free decommissioning of battery storage projects (98% recycling)
• Improved the rigour and depth of emissions data collection processes
• Launched SBTi approved net zero targets and developed an action plan

Social Achievements

• Increased Employee Net Promoter Score (eNPS) by +3
• Over 80% employee participation in engagement survey
• Reduced Total Recordable Incident Rate (TRIR) from 0.76 to 0.59
• 2,059 hours of employee volunteering
• Launched Wellbeing 365 program in Australia
• Established a veterans’ community and signed the UK Armed Forces Covenant
• Supported various community initiatives and charities globally (e.g., earthquake relief in Turkey and Syria, migrant snack packs in the US)

Governance Achievements

• Implemented a global crisis management process
• Strengthened safety culture through analysis of key trends and new global safety standards
• Improved processes across a range of areas and implemented new Enterprise Resource Planning software
• Aligned with the reporting requirements of the Taskforce on Climate-related Financial Disclosure (TCFD) and UK’s Climate-related Financial Disclosure Regulations 2022
• Undertook first audits and factory visits with key suppliers focusing on solar and storage major equipment suppliers

Climate Goals & Targets

Environmental Challenges

• Increased emissions in 2023 compared to baseline year due to increased business activity
• Supply-demand imbalance of key materials for renewable energy projects
• Grid connection queues delaying project deployment
• Maintaining social license to operate in communities hosting projects
• Increased costs from complying with new reporting obligations
• Potential risks around extreme weather events and chronic changes to weather patterns

Mitigation Strategies

• Developed a targeted approach to decarbonise the value chain (vehicles, facilities, supply chain, travel)
• Investing in mitigation activities beyond the value chain (afforestation, forest conservation)
• Improved emissions calculations and data collection processes
• Working with suppliers to align with decarbonisation roadmap and integrate emissions reporting requirements
• Implementing risk reduction strategies based on root-cause analysis of incidents
• Strengthening safety culture and crisis management processes

Supply Chain Management

Supplier Audits: First audits and factory visits with key suppliers completed.

Responsible Procurement

• Supply chain code of conduct included in all supply contracts
• Focus on worker conditions, ethical sourcing, material management and recycling
• Working with suppliers to integrate emissions reporting requirements

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Chronic changes to weather patterns

Transition Risks

• Supply chain disruptions
• Changes in regulation and industry standards
• Reduced renewable energy incentives

Opportunities

• Increased demand for clean energy
• Opportunities for O&M services
• Development of new technologies

Reporting Standards

Frameworks Used: SBTi, TCFD, UN Global Compact

Certifications: ISO 14001, ISO 45001, ISO 9001, ISO 55001

UN Sustainable Development Goals

• Goal 7 (Affordable and clean energy)

RES's business activities directly contribute to achieving Goal 7 by providing affordable, zero-carbon energy.

Sustainable Products & Innovation

• AeroUp (wind farm energy yield increase)
• Optivert (solar farm inverter controller)

Awards & Recognition

• Three awards in Diversity and Inclusion categories
• Platinum status from the Solar Energy Industries Association for DEI efforts