As a renewable energy retailer, ZEN Energy is striving to lead communities into the zero-carbon world. Joining the retail electricity market in 2018, the business is committed to offering customers sustainable, uncompromised, and reliable renewable energy.
ZEN Energy is proof that there is a commercially viable business model for a zero-carbon-electricity company.
ZEN approached Currie to provide inputs to the process and needed content for the creation of its inaugural Environmental, Social & Governance (ESG) report, telling the story of its sustainability activities, and how to track progress against its vision for a zero-carbon world.
In particular, ZEN sought to highlight its 1.5C emissions reduction target, set in line with the Science Based Targets Initiative, which distinguishes the business as an industry leader for emissions reduction.
ZEN was also seeking to understand how its ESG approach measured up against others in the sector, and the broader Australian business environment.
Currie guided ZEN through the structuring, presentation and commentary around their materiality review and conducted a competitor analysis of sustainability targets to help ZEN set their own commitments
We advised on the development and presentation of sustainability targets, and reviewed alignment of the report with key standards, guidelines and frameworks including GRI and SASB Standards, the Taskforce on Climate-Related Financial Disclosures (TCFD), and the United Nations Sustainable Development Goals.
Working with ZEN, we advised on the broad structure of the report, ZEN’s ESG narrative, as well as design, to ensure the content of the final report can be used to tell ZEN’s sustainability story to a variety of audiences.
Currie also worked with ZEN, to assess its ESG report through the Global ESG Monitor (GEM). A global partnership, the GEM assesses and scores the ESG transparency of companies across the world.
ZEN Energy uses its ESG report to showcase and promote its work and commitment to a zero-carbon future amongst potential investors. The ESG report will launch publicly this week.
In great news, ZEN Energy received an extremely positive score through the GEM assessment. Extensive measurement against a benchmark comprising the top 50 ASX companies, ZEN Energy’s ESG report ranked first, with a score of 50. That is well above the average listed company and in front of industry peers.
When compared with sample groups from the EURO STOXX, DAX and DOW Jones, ZEN’s report ranked third only two points behind the global fashion juggernaut, Inditex (53 points), and one point behind leading global bank Santander (51 points).