ESG & Impact
Driving impact through ESG: our commitment to People, Planet, and Performance
What ESG means to us
ESG is integrated into every part of our business. We believe in creating positive change and are committed to doing business in a way that considers the long-term impacts on people and the planet. For us, this means considering a wide range of stakeholders when making decisions, including our customers, shareholders, employees, the community, and the environment. Our direct management of our assets allows us to have a hands-on approach, and in turn, gives our investors greater visibility into how their capital is being deployed.
Our Approach
Our core impact objective is to accelerate the transition to net-zero by investing in and operating a diversified portfolio of renewable energy assets. By channelling capital towards sustainable outcomes that mitigate climate change, we aim to contribute to global efforts to limit warming to well below two degrees and pursue efforts to limit it to 1.5 degrees, in line with the Paris Agreement.
We embed ESG considerations into every stage of our investment process, from due diligence and decision making, to asset management and reporting. This approach helps us manage risk, identify opportunities, and enhance environmental and social outcomes while delivering long-term value for investors and the communities we operate in.
People, Planet, Performance
Octopus Australia has developed an ESG and Impact strategy which is based around three pillars: People, Planet, and Performance. This framework ensures ESG risks and opportunities are considered throughout the investment lifecycle, and is underpinned by our ESG policy, which is reviewed annually by the Board of Directors. This enables us to measure and track the positive impact our investments have for investors, the environment, and society.
People
Evaluate social considerations to mitigate risks and promote a ‘Just Transition’. This includes promoting fair outcomes for workers, communities, and other stakeholders as we shift to a clean energy future.
Planet
Consider environmental factors across each project’s lifecycle, working to reduce adverse impacts and enhance environmental outcomes wherever possible, from development through to operations.
Performance
Build and operate a diversified portfolio of renewable energy assets, with a focus on investment resilience. Robust governance, rigorous due diligence, risk analysis and ongoing asset optimisation helps us manage risks and deliver strong, long-term financial performance.
ESG metrics
Includes data from operational assets only.
1,072,549
Renewable energy generation (MWh)
710,650
CO2 avoided (tCO2)
3,493,310
Trees planted
179,842
Homes powered per year
175,664
Cars displaced
Related policies
We take great care to mitigate any potential adverse impacts or risks to communities as we invest, develop, construct and operate our portfolio of renewable assets. Octopus Australia and our asset contractors maintain robust policies and governance frameworks to ensure these risks are actively identified, monitored and mitigated.
In addition to fund-specific ESG policies, Octopus Group has a number of policies and processes that support our broader commitment to responsible investment.
ESG reporting
We are committed to proactively managing modern slavery risks and aligning our practices with the intent of the Modern Slavery Act 2018 (the Act).
We are committed to transparent and robust ESG reporting, aligning our practices with recognised sustainability standards. We aim to provide clear, accessible insights into how we manage ESG risks, create impact, and contribute to a low-carbon future. For more information, please see our latest impact report.
| ESG and Impact Update December 2024 | Download report |
Our investments are also aligned to UN Sustainable Development Goals (SDGs), with a direct contribution to SDGs 7, 11 and 13 (affordable and clean energy, sustainable cities and communities, and climate action).
Through these disclosures, we aim to provide clear, consistent insights into how we manage ESG risks, deliver impact, and support the transition to a low-carbon economy.
Core SDGs
Additional SDGs
Modern slavery
Octopus Australia has the utmost respect for human rights and is committed to seeking out and addressing any modern slavery risks we have influence over. We recognise that we can affect human rights not just in our own business operations but in our wider supply chain, both internationally and in Australia.
As such, the Octopus Australia Board has approved an Anti-Modern Slavery Policy which sets out our commitment to understanding, assessing and managing these risks. The policy includes six key objectives, which are broken down in a separate ‘Action Plan’ into targets with individual owners and timelines.
We have established an internal Modern Slavery Group, made up of representatives from across our business including development, construction and operations, finance, and legal. The group meets regularly to discuss issues as they arise and to ensure that we are progressing with our Action Plan targets.
Octopus Australia is also an active participant in the Clean Energy Council’s Modern Slavery Working Group, collaborating with industry peers to share experiences, address sector-wide risks, and strengthen best practices. In line with this, we have signed the CEC’s Modern Slavery Pledge, as follows:
In recognition of the global prevalence of modern slavery and risks for the rapidly developing renewable energy sector, the Clean Energy Council and the undersigned members (‘we’, ‘us’ or ‘our’) declare our corporate responsibility to respect human rights.
Our common purpose is to work towards our operations and supply chains being free of adverse human rights impacts, including modern slavery. We each commit to:
- Adopt adequate procedures to manage the risk of modern slavery in our operations and supply chains.
- Take into account modern slavery risk when selecting and managing suppliers.
- Seek to contractually oblige our suppliers to have in place adequate procedures to manage their modern slavery risk.
- Build awareness of modern slavery risks in the various forms of clean energy.
- Collaborate with Clean Energy Council members, suppliers and other relevant third parties on fulfilling each of the above commitments, in accordance with competition laws.