It’s been an eventful year for Renantis, one that’s seen us combine with Ventient Energy and produce almost 3GW of renewable energy through wind, solar and biomass in Europe and the US. We’ve also made great strides in improving our emissions calculations and increased our commitment to supporting communities, all while participating in the GRESB assessment for the first time and achieving a five-star rating with a score of 97/100.
Renantis 2023 Sustainability Report shares our performance across all of the areas, detailing our Environmental, Social, and Governance (ESG) impact. In a year that saw record global temperatures, you’ll learn about our new climate change action fund, see how we’ve limited the negative impacts of our operations, and discover how we’re playing a central role in the energy transition.
Read the 2023 Renantis Sustainability Report
One combined company, two sustainability reports – why?
In January 2024 Renantis and Ventient became one combined organisation, but throughout 2023 we were two separate companies, which is why we are each issuing a sustainability report.
Highlight figures
Here are some of the highlights of the Sustainability Report 2023:
Avoided CO2 emissions – 539,464 tCO2eq of GHG emissions avoided thanks to 2,961 GWh of renewable energy generated.
Community engagement – 74% of plants with significant community engagement initiatives, up from 46% in 2022.
Crowdfunding – 3 new community crowdfunding campaigns in Italy attracting more than 100 local investors and raising over 200% of the target amount.
DEI – 80% of employee trained on Diversity, Equity, Inclusion (DEI) and Human Rights.
Digital sustainability – 97% decrease in the carbon footprint of our corporate website homepage as a result of our approach to digital sustainability.
Community projects – 249 community projects funded by community benefit schemes and annual call for projects across six countries.
GRESB -Maximum five-star GRESB rating, and a score of 97 out of 100, positioning us fourth in the renewable power sector across Europe.
Scope 3 emissions project
In 2023, together with Ventient Energy and Sonnedix, we started a comprehensive journey to define a new, robust and common methodology to measure all Scope 3 emissions. This project built solid foundations and an important benchmark for Scope 3 measurement for the renewable energy sector.
As a result of this project, we identified gaps in our carbon footprint measurement, established improvement actions, and have defined a clear, robust methodology for carbon footprint calculation. Our 2023 dataset calculation followed this new methodology, providing us with a clear picture of where our value chain emissions are. The improved accuracy on Scope 3 emission drivers is an important step to make sure future decarbonisation actions will be targeting actual emission intense categories.
Always supporting our communities
2023 saw the sixth Renantis Community Forum take place, held in Inverness and featuring a guided visit to a hydroelectric project, followed by talks, a buffet dinner, and networking. Around 30 community representatives attended as well as 10 team members from across Renantis and, for the first time, Ventient. We also held our first Community Forum in Italy, which took place online.
As a multinational business we are uniquely privileged to also be part of many local communities and last year saw us develop our role further with our first Contractors’ Open Day in Italy for our agrivoltaic project in Terzo d’Aquileia, Friuli. In Puglia, Italy, we held, with the collaboration of Confindustria, the workshop ‘Floating marine wind farms opportunities for the local supply chain’ where over sixty entrepreneurs from companies associated with Confindustria took part.
Looking forward
In 2023 we begin to think about the combined potential of Renantis and Ventient, and the impact we could have together, as our CEO, Toni Volpe, explains:
“Recognising the importance of our climate impact in 2023, we engaged in a joint strategic project to align our methodology for calculating scope 3 emissions, collaborated in joint community forums, and joined forces with one another, learning from our different cultures, new languages and working habits, and laying the foundations for the prosperous, diverse and multinational organisation we have now become.”
Without a doubt 2023 saw profound internal transformation for both Renantis and Ventient, but rather than distracting us from our ESG commitments, our combination has energised us even more, revealing opportunities to further enhance our impact in the coming years.