Essential Energy embraces climate-related financial disclosure

07 December 2022

Essential Energy is pleased to be part of the NSW Government’s pilot on the Taskforce on Climate-related Financial Disclosures (TCFD) statements.

First published by the international Financial Stability Board in 2017, the TCFD framework is designed to improve climate-related disclosures by organisations, giving stakeholders greater visibility of their approach to climate change.

As a key initiative in the NSW Government’s Net Zero Plan Stage 1: 2020-2030, the pilot TCFD statement reporting will outline climate-related risks, opportunities, processes and targets. The pilot outcomes will provide learnings and a guide for other state government entities.

Essential Energy, along with the Environment Protection Authority (EPA) and the National Parks and Wildlife Service (NPWS), are participating in the pilot.

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

“In 2021-22, we developed our first Sustainability Strategy, which is guiding us in generating positive value for stakeholders and addressing our most pressing sustainability issues.”

Essential Energy is committed to making its operations environmentally, economically and socially sustainable – in line with customer and stakeholder expectations.

“We are responding to climate change by building climate resilience and partnering with industry leaders to future-proof our assets.

“This will enable us to respond to potential climate events and provide our customers with alternate energy solutions,” John added.

The TCFD statement outlines Essential Energy’s climate-related strategic initiatives, which will be essential in the delivery of a resilient and reliable network, as well as renewable energy uptake and the facilitation of electric vehicle (EV) adoption.

“In a time of rapid change, we are positioned to support the transition to renewable energy and evolve to become a network for the future.

“We want to help empower our customers and communities to share and use energy for a better tomorrow,” John concluded.

Essential Energy developed the 2022 statement in alignment with the TCFD framework and Climate Risk Ready NSW Guide and published it as part of our Annual Report. The TCFD was peer reviewed by Point Advisory, a qualified sustainability and climate change auditor and assurance provider.

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Essential Energy embraces climate-related financial disclosure
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