Business
Publication of latest ESG & Sustainability Report
Publication of latest ESG & Sustainability Report.
About this update from Gore Street Energy Storage Fund Plc
[{"type":"text","content":"\n\n29 August 2024\nGore Street Energy Storage Fund plc\n(the \"Company\" or \"GSF\")\nPublication of FY2023/24 ESG and Sustainability Report\n \nGore Street Energy Storage Fund plc, the internationally diversified energy storage fund, is pleased to announce the publication of its third ESG and Sustainability Report.\nThis latest report reflects a significant year of growth for the Company, with a 45% increase in energised capacity of the portfolio to 421.4 MW. Sustainability reporting has, therefore, become even more critical for investors seeking enhanced transparency over the Company's environmental and social impacts.\nThe Company qualifies as an Article 8 product under the European Sustainable Finance Disclosure Regulation (SFDR) and reports on Principle Adverse Impacts (PAIs) such as greenhouse gas emissions, carbon footprint, and board gender diversity, which are included in this report. The report also details the Company's contribution to the green energy transition, its position under the new EU Battery Regulation, as well as various social initiatives undertaken during the reporting period.\nAdditionally, as a signatory of the Principles for Responsible Investment (PRI), the Company is committed to incorporating the Principles into its own investment practices and recently published its Responsible Investment Policy. In July 2024, the Company submitted its first publicly available assessment report, the results of which will be available later this year.\nKey highlights of the ESG & Sustainability Report include:\n• The Company's portfolio capacity increased to 1.25 GW (FY2022/23: 1.17 GW), with 421.4 MW of energised capacity and 826.8 MW in the construction/pre-construction phases.\n• The operational fleet avoided 15,178 tCO2e and stored 26,232 MWh of renewable electricity.\n• The Company implemented innovative solutions to further advance its high standards of Health & Safety, while continuing to support communities up and down the value chain.\n• The Company further aligned with the Task Force on Climate-Related Financial Disclosure (TCFD) recommendations by providin...