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Key stats
1.The number of homes powered is based on the average annual household energy consumption, using the latest reported figures, and reflects the portfolio’s annual electricity generation on the relevant reporting date for each region.
2. Based on the marginal generation displaced in each jurisdiction. Gas generation for Ireland and Spain at 385gCO2/kWh, nuclear generation for France and Sweden at 0gCO2/kWh, biomass generation for Finland at 0gCO2/kWh and coal generation for Germany at 935gCO2/kWh. This approach is the preferred option under Partnership for Carbon Accounting Financials (‘PCAF’) guidance (‘operating margin’) for measuring carbon avoided and replaces the methodology used in 2022 that applied average grid intensity per region.
Greencoat Renewables is committed to providing the long-term capital required to support the energy transition across Europe.
Ronan Murphy
Chair
ESG focus areas
We operate 40 renewable energy assets across Europe; in 2024 we generated enough renewable energy to power approximately 775,000 homes.
We have provided €1.3 million to charities, communities and initiatives, benefiting over 300 projects across the places we operate.
The Company is committed to meeting the disclosure requirements relating to Article 9 of EU SDFR and TCFD which form part of our 2023 Annual Report, and we continue to report that 100% of our revenues are aligned to the EU Taxonomy criteria for Climate Change Mitigation.
ESG timeline
2024
The Manager updated its Supplier Code of Conduct and commenced roll-out to key suppliers.
The Manager strengthened ESG due diligence processes and delivered training across the business.
The Company completed its first exit-process due diligence with the sale of Kokkoneva.
2023
Greencoat Renewables published SFDR disclosures for the first time, including Annex V and Principal Adverse Indicators.
Greencoat Renewables updated its ESG Policy to incorporate the requirements of the SFDR.
The Manager completed its first ESG accreditation as part of Schroders’ ESG framework to ensure ESG is integrated across all investment desks.
Greencoat Renewables made its first solar PV investment.
2022
The Manager updated its ESG Policy, providing guidance to Greencoat Renewables to align its own policies with the requirements of the Sustainable Finance Disclosure Regulation (‘SFDR’).
The Manager implemented its Supply Chain Policy, allowing Greencoat Renewables to better identify and navigate emerging supply chain risks.
Greencoat Renewables was classified as an Article 9 fund under the SFDR.
Greencoat Renewables initiated third-party employment and modern slavery audits for the first time for a selection of assets.
2021
Greencoat Renewables’ first submission to CDP.
The Manager joined the Net Zero Asset Managers (‘NZAM’) initiative.
2020
Greencoat Renewables began supporting the Dublin Rape Crisis Centre.
The Manager updated its ESG and Equality, Diversity and Inclusion Policies.
2019
Greencoat Renewables published its first disclosures under the Task Force on Climate-related Financial Disclosures (‘TCFD’) recommendations.
Greencoat Renewables published its first ESG Report.
2016
The Manager became a signatory to the UN-backed Principles for Responsible Investment (‘PRI’).
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