NextEnergy Solar Reaffirms Commitment to Sustainability in New ESG Report

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by KnowESG

Following the publication of its first stand-alone sustainability report, NextEnergy Solar Fund Ltd. stated that the company is in a great position to improve its positive environmental impact.

NextEnergy Solar is a solar investor and asset manager based in Guernsey.

The report, which was part of NextEnergy's strategy for the environment, society, and governance, suggested a three-pillar approach to sustainability: climate change, biodiversity, and human rights.

As of March 31, the company reported 328,700 tonnes of CO2 emissions averted per year and 769.1 tonnes of oil equivalent prevented since 2015.

NextEnergy intends to amend its supplier code of conduct to account for Scope 3 supply chain emissions by requiring mandatory data submission and utilising third parties to provide estimates of the product's lifecycle emissions using standardised industry factors until actual assured data is available.

Since 2020, the company has planted an extra 13.84 hectares of wildflowers throughout its Exemplar, UBMP, and Buglife portfolios, which it said went beyond planning requirements.

Pollinators have become more common at these sites compared to places without wildflowers.

NextEnergy says that it will be making a new environmental strategy and framework, which will explain how it will collect baseline data and figure out how much biodiversity net gain there is across all existing assets.

Source: Alliance News

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