Our approach to ESG affects not only our operations and the way we carry out our business, but the way in which we finance our business. Since March 2023, over £800m has been secured through the Group’s Sustainable Financing Framework. Pennon’s Sustainable Financing Framework aims to integrate commitments to environmental and social objectives into funding activities We continue to maintain financial resilience underpinned by an ethical approach, as evidenced by retaining our Fair Tax Mark accreditation and adherence to our sustainable financing framework.
The Group’s total tax contribution (TTC) for 2023/24 amounted to £100 million (excluding £144 millions of VAT receipts), as outlined in our published tax strategy. It is acknowledged as being a fair and comparable representation of total tax cost. Like any successful business, we continue to work hard to be efficient and effective to deliver the best possible result for customers, communities and shareholders. We have the same approach when it comes to tax. It is the taxes paid by businesses and people which help fund vital public services, investment in people and infrastructure to support future growth, which benefits us all.