Our impact
We are currently working hard to develop the sustainability strategy that will bring Renantis and Ventient Energy together as Nadara.
As part of this, we are busy integrating our carbon footprint data and combining Environmental, Social and Governance (ESG) indicators.
We’ll look forward to sharing our Nadara sustainability strategy soon.
What does sustainability mean to us?
For us, sustainability means creating value for all our stakeholders through the generation of renewable energy while minimising our impact on the environment and leaving society in a better place.
ESG is about assessing, monitoring, and reporting our sustainability performance through ESG frameworks and metrics to comply with regulatory obligations, meet stakeholder expectations and communicate our impact through voluntary and mandatory disclosures.
Why is sustainability important?
While generating renewable energy, we interact closely with a wide range of stakeholders, from the natural environment to society.
The first step in developing our sustainability strategy is listening to our stakeholders to understand their expectations of us and the issues that are important to them.
Initial engagement with our employees and external stakeholders shows that sustainability is increasingly important for them. This is reflected through their concern for emerging environmental and social risks, their expectations for transparent ESG reporting, and their support for sustainability to remain a central part of our shared culture.
Our communities
Sharing our value with the local communities who host our renewable energy assets is at the core of what we do – from running our community benefit funds, distributing financial support to sustainability projects, to setting up local co-operatives so that communities can share in the profits from their local plant.
Environment
As a company which interacts closely with the natural environment, we have a duty to protect it. We seek to minimise any negative environmental impacts caused by our operations, by reducing our greenhouse gas emissions (GHG), our impacts on nature and biodiversity, and our consumption of natural resources.
People
People are the driving force behind the energy transition and net zero, and the health, safety and wellbeing of our people is our number one priority. We are committed to supporting and developing talent in the renewable energy industry. We provide training and development opportunities to employees and share our knowledge externally with the wider industry and local communities.
Suppliers
We are committed to working in partnership with our supply chain to achieve common sustainability objectives. We aim to create a short supply chain wherever possible to promote economic development in our local communities while reducing our environmental impact.
Our impact in numbers
Each year, GRESB assesses and benchmarks the ESG performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability topics.
Ventient = Score of 98 out of 100, 5 Star Rating, Renewable Power Sector Leader Status
Renantis = Score of 97 out of 100, 5 Star Rating
COMMUNITY ENGAGEMENT STATS IN 2023 FOR CORE COUNTRIES*
45%
of plants with Community Engagement Programmes**
29%
of plants with Community Benefit Funds
25%
of plants with Call for Projects Initiatives
20%
of plants with ESG Benefit Funds
* Core countries (France, Italy, Portugal, Spain and the UK).
** Engagement Programmes: Call for Projects, Community Benefit Funds, ESG Funds, Forums.
Sustainability Reporting
As noted in the ‘Climate and Environment’ section below, we are reporting 2023 emissions independently. We are working hard to combine our carbon footprint and aim to report our combined climate impact in Q1 2025.
| 2023 Emissions | Ventient Energy | Renantis |
|---|---|---|
| Scope 1 | 475 | 143,098 |
| Scope 2** | 2,892 | 2,066 |
| Scope 3 | 47,581 | 58,074 |
| Total | 50,948 | 203,238 |
| Avoided Emissions (tCO2e) | 966,265 | 539,464 |
Communities
Engaging with the communities that host our renewable energy assets is the foundation of our sustainable business model.
From the beginning, we understood the importance of laying solid foundations for constant, transparent and lasting dialogue with our local communities and stakeholders. This allows us to redistribute the economic value created by our presence and to enable sustainable growth and development in the areas where we operate.
To do this, we created a framework for community engagement that’s flexible and dynamic, to make sure our contribution is really tailored to local needs. We craft our approach starting with people: it begins with early engagement, local listening and understanding of their needs.
Our community engagement models
Community benefit schemes
In areas with our implants, we annually donate a sum based on the plant’s size to a non-profit trust fund.
The local community manages these funds to support cultural, educational, environmental, infrastructural and health initiatives to raise awareness and promote energy sustainability.
Lending crowdfunding
In Italy, we developed a financing mechanism for photovoltaic projects, allowing local communities to invest profitably and sustainably.
Through an online crowdfunding platform, citizens can finance plant construction, receive attractive interest for several years, and recover their initial capital at the end of the lending period.
Cooperatives schemes
We encourage the local community to establish cooperatives, whose members contribute to financing the energy plant.
Returns on investment are attractive and the initial investment is repaid in full.
Ownership schemes
To those who live near our plants, organized as a social enterprise, we offer the possibility of owning a share of the plant itself.
This allows the community to participate in the economic results of the facility.
Climate and Environment
Whilst we are currently developing our new combined approach to sustainability, our shared commitment to environmental stewardship remains constant.
To us, this means measuring, understanding and managing our impact from several key areas including but not limited to GHG emissions, waste and water management, biodiversity and nature.
We have already taken steps to better understand our impact on the climate by engaging in a strategic project to align our Scope 3 calculation methodology. We recognise that understanding and managing our Scope 3 emissions – those generated within our value chain – presents one of the biggest challenges we will face in reducing our climate impact.
As well as Scope 3, we are also working hard to integrate our Scope 1 and 2 emissions, with the aim of having a fully integrated carbon footprint picture by Q1 2025. Whilst we work to combine our emissions data, we feel it is important to provide our stakeholders with a view of the latest climate impact of the two organisations, prior to the combination.
Policies and Certificates
*The following documents are pre-existing policies, applicable to either Renantis or Ventient Energy. Joint policies for Nadara are being developed as we fully integrate the two businesses. These documents will be replaced as soon as the joint policies for Nadara are approved.
