Essential Energy embraces climate-related financial disclosure

16 December 2022

Essential Energy is pleased to have published its first statement on the Task Force on Climate-related Financial Disclosures (TCFD), as one of three NSW Government entities involved in a pilot program.

Essential Energy’s CEO, John Cleland said, “We welcome the opportunity to participate in the TCFD pilot and see it as an important initiative to increase transparency and accountability around climate change management.

“The transition to a net zero economy will fundamentally change energy sector business models, which we believe is essential to the ongoing delivery of accessible, reliable and resilient energy to customers.”

Mr Cleland added, “Our customers have told us - that we should minimise the impact of climate change and improve resilience for regional NSW where possible. Our communities have been impacted by increasingly severe weather events – including drought, fires, and floods – which has made this need even more pertinent.

“There is also a strong expectation that our network will be capable of accommodating increasing amounts of renewable energy and consumer energy resources, including solar panels, batteries, and electric vehicles (EVs).

"We are working with EV charging providers to support travel across our extensive network footprint, we’re trialling battery technology and we’re undertaking community-led research into the value of microgrids and stand-alone power systems.

“We’re building a network that can facilitate the transition and empower our regional, rural and remote customers across NSW to share and use energy for a better tomorrow,” John concluded.

The TCFD statement outlines Essential Energy’s climate-related strategic initiatives to deliver a resilient and reliable network, as well as renewable energy uptake and the facilitation of EV adoption.

Essential Energy has prepared the 2022 TCFD statement in accordance with the recommendations of the TCFD framework and Climate Risk Ready NSW Guide and published in alignment with the annual report. Statements have been assured by Point Advisory, a qualified sustainability and climate change auditor and assurance provider.

The NSW Government pilot outcomes will provide learnings and a guide for other state government entities.