The Challenge
This modernized energy company has a future-focused take on sustainability. As a power provider with coverage throughout Europe, the company has a history of embracing renewables, setting its sights on a sustainable, fossil-free future for the communities it serves.
Today, our client integrates sustainability principles and renewable energy transition as key parts of its business strategy. In pursuit of its goal of greater transparency, in 2015 the company also began reporting to CDP, a nonprofit disclosure system for environmental impacts. Our client enlisted ADEC ESG Solutions for support in developing a response to CDP’s Climate Change questionnaire, ensuring their reporting accurately reflected the company’s growing emphasis on ESG values and mounting success in achieving its ESG goals.
Our Solution
CDP disclosure support and recommendations
ADEC ESG Solutions has collaborated on our client’s CDP Climate Change disclosure for more than five years. Since 2016, we’ve provided the company with feedback on its CDP response in the form of Scoring Assessments, an ADEC ESG service which allows our client to estimate its CDP performance for that year and implement improvements—all before submitting a finalized response to CDP. On a broader scale, ADEC ESG’s Scoring Assessments also serve as an ESG roadmap for our clients, who use our guidance and detailed recommendations to inform the evolution of their ESG strategy. How can they reshape current sustainability efforts to align with recent climate science, ESG trends, and their own ambitious goals? What next steps can they take to improve their ESG programs in the short and long term?
Through Scoring Assessments, our team evaluated a draft disclosure and offered feedback and clear, specific recommendations, including electric utility sector-based questions. These often included identifying potential gaps and ensuring that the company’s response aligned with the latest CDP scoring methodology. The goal was to support our client’s sustainability team in understanding the nuances of the methodology and enabling them to focus on key areas of the questionnaire. The incredible momentum the company had gained toward climate neutrality and sustainable growth over the past decade spoke for itself—it was our job to help shine a spotlight on their passion, progress, and dedication.
Highlighting long-term growth and sustainability
Since 2016, our client’s strategy has been driven in large part by its commitment to the United Nations Sustainable Development Goals (SDGs), including sub-categories focusing on renewable energy, sustainable infrastructure, climate resilience, circularity, and public-private partnerships. The company’s scope 1 GHG emissions have dropped significantly over the past several years, with absolute emissions halved compared to a baseline of 2016. Our client also set reduction targets through the Science Based Targets initiative (SBTi) and works to reduce their scope 3 emissions through improved communication and engagement with strategic suppliers.
To highlight transparency and accountability, the company also participates in a wide scope of ESG reporting frameworks and indices in addition to CDP, including Ecovadis, ISS ESG, MSCI, and Sustainalytics. Frameworks such as these can serve as gap analyses for the coming years, highlighting global trends and guiding strategic focus.
These massive efforts in improving long-term sustainability for the company and its customers are reflected in its CDP reporting. Our client’s performance swiftly increased, from a score of Disclosure D in 2015 to Management B in 2016. Subsequently, in 2017-2021, the company has risen to achieve Leadership levels of performance.
Results and Deliverables
- CDP Climate Change Scoring Assessments from 2016-2021
- Clear and detailed CDP disclosure recommendations
- Steady year-over-year improvements in CDP performance
