2023/24 ESG Target performance and assurance

Our Group ESG targets set in 2021/22 to 2025 reflect the priority issues as identified by stakeholders in our materiality assessment that are not already addressed in existing regulatory commitments and plans. All Group ESG targets incorporate our Bristol Water business, and we are working to embed SES Water in these targets moving forwards.

Key successes include exceeding our catchment management, GHG reduction and water efficiency targets. We achieved all our social targets achieving both gender and new REACH target and exceeding the 5% club target instead receiving “Gold” membership. In addition to retaining our Fair Tax mark for the 6th year running, we also improved our lead health and safety measure (LTI). 

Our Governance targets were all achieved and included exceeding our targeted score in our key Sustainalytics ESG Rating and delivering 100% of our new debt raised through our Sustainable Financing Framework. 

For more information on our ESG performance metrics, see the ESG Databook available here.

DNV Assurance Statement

Our assured metric definitions are available here

B4SI Assurance Statement

Assurance

Our performance against selected ESG metrics in 2023/24 was externally assured by DNV. DNV’s method of assurance includes testing the assumptions, definitions, methods and procedures that are followed in the development of data and the auditing thereof to ensure accuracy and consistency. DNV’s 2023/2024 Independent Limited Assurance Report is available here.

Our Community Impact data has been assured by Business for Community Impact (B4SI). This is the first year Pennon Group has applied the B4SI Framework and has been a part of the global B4SI Network, accessing full guidance and support for its application. B4SI’s independent assurance statement is available here.