Climate Change Data

Environmental Metrics

ESG Focus Areas

• Governance and resilience
• Low carbon transition
• Environmental impacts
• Workplace and community

Environmental Achievements

• 156,000 tonnes of CO2e emissions saved
• 450MW of gross renewable energy generation capacity
• 113,000 MWh of renewable energy generated
• 3.6 million Negawatts of demand side energy reduction capacity
• 44,500 MWh of energy saved annually

Social Achievements

• Nearly 1,300 jobs supported in the operation and maintenance of projects
• 88% of projects are serviced by O&Ms that have gone beyond applicable minimum wage legislation and have voluntarily committed to paying the prevailing living wage

Governance Achievements

• All projects have a dedicated process for identifying, assessing and documenting risks and determining appropriate mitigation or management measures
• More than 80% of projects have further strengthened their cybersecurity measures

Climate Goals & Targets

Environmental Challenges

• Two O&M contractors’ employees were involved in slip-related incidents at SEEIT projects resulting in 14 and 15 days of incapacitation, respectively.
• Covid-19 pandemic impact on operations and community

Mitigation Strategies

• Preventative measures were implemented in both instances to mitigate the specific slip hazards
• Actively and carefully managing the potential social and economic implications of the evolving Covid-19 pandemic to ensure safe work for everyone involved in SEEIT’s projects

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• ESG considerations in procurement and contractual terms for business partners

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: UN PRI

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 7
• SDG 9
• SDG 17

SEEIT’s portfolio contributes to 11 of the 17 SDGs.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• London Stock Exchange Green Economy Mark

Environmental Metrics

ESG Focus Areas

• Aiding the transition to a low-carbon economy
• Minimising environmental footprint
• Robust Governance
• Safe and Healthy Environment

Environmental Achievements

• 1,060,617 tCO2 emissions saved through energy efficient solutions (compared to 657,030 tCO2 in 2021)
• 307,794 MWh renewable energy generated (compared to 241,025 MWh in 2021)
• 242,161 MWh energy saved annually through demand-side efficiency measures (compared to 102,604 MWh in 2021)

Social Achievements

• 99% of the portfolio by value ran initiatives to promote and/or improve the health, safety and wellbeing of their employees
• 99% of the portfolio by value ran initiatives specifically targeting mental health of workers
• RED Rochester started an internship program to employ local students

Governance Achievements

• 100% of the portfolio by value had a health and safety policy and management system in place
• 98% of the portfolio by value had a process to identify and assess environmental risks and impacts
• 99% of the portfolio by value responded to the Annual ESG Questionnaire

Climate Goals & Targets

Environmental Challenges

• Two environmental incidents resulting in violations
• Limited data on Scope 3 emissions due to complex and varied supply chains
• Some recent acquisitions recorded environmental incidents related to transient operational conditions

Mitigation Strategies

• Root-cause analysis and mitigation actions implemented for environmental incidents
• Focus on improving Scope 3 emissions reporting and management
• Working closely with asset management teams to improve ESG KPIs

Supply Chain Management

Responsible Procurement

• Supplier code of conduct (60% of portfolio by value)

Climate-Related Risks & Opportunities

Transition Risks

• Potential policy changes or technology improvements

Opportunities

• Investing in low-carbon, energy-efficient assets

Reporting Standards

Frameworks Used: UNPRI, UN SDGs, TCFD

Certifications: ISO 14001 (for some projects)

UN Sustainable Development Goals

• Goal 7: Affordable and clean energy
• Goal 9: Industry, innovation, and infrastructure
• Goal 11: Sustainable cities and communities
• Goal 13: Climate action

Environmental Metrics

ESG Focus Areas

• Aiding the transition to a low-carbon economy by maximising energy efficiency through its investment strategy and operations
• Pro-actively minimising the environmental footprint of operations through managing negative impacts, such as waste, biodiversity loss and emissions
• Securing robust governance and business integrity including assessing resilience to physical climate risk and engaging as an active participant on ESG with its delivery partners
• Providing a safe and healthy environment for all workers, contractors and members of the community who use or encounter its projects

Environmental Achievements

• Carbon Savings of 1,202,528 tCO2e (March 2022: 1,060,617 tCO2e) from Company’s portfolio
• Energy saved 387,868 MWh equivalent to removing 1,004,619 cars off the road equivalent to powering 26,031 homes in the UK

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Global economic instability, driven by high power prices, high inflation, rising interest rates and energy price volatility
• Higher risk-free rates, and higher costs of capital
• Higher labour costs impacting returns on certain investments
• Rising interest rates increased some project-level borrowing costs
• Operational challenges at some investments (SEEIT Oliva, Värtan Gas, Primary Energy, Onyx, Future Energy Solutions)
• Supply chain challenges

Mitigation Strategies

• Reflected higher interest rate environment in valuation assumptions
• Successfully secured equity capital through a £135 million fundraise
• Low gearing strategy (32% of NAV)
• Focus on value enhancement from existing portfolio and organic pipeline
• Asset management initiatives (identifying additional revenue, reducing costs, investing incremental capital)
• Leveraging procurement power across portfolio
• Forward purchasing of equipment
• Share buyback programme

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Connecting project company procurement teams
• Forward purchasing of equipment

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather conditions

Transition Risks

• Technological changes
• Accelerated net-zero targets
• Regulatory changes

Opportunities

• Increased demand for energy efficiency solutions
• Government policies supporting investment in the sector

Reporting Standards

Frameworks Used: UN PRI, UN SDGs, SFDR, TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7
• Goal 8
• Goal 9
• Goal 11
• Goal 12
• Goal 13

SEEIT's investments contribute to these goals through energy efficiency and renewable energy

Sustainable Products & Innovation

• Geothermal power and heating
• Energy-efficient motors
• Data centre liquid cooling
• Behind-the-meter solar PV, wind and hydropower

Awards & Recognition

• Not disclosed