As an energy company, we need to go above and beyond in the standards we set for ourselves, hence our commitment in our North Stars to ‘Role Model Net Zero’.
This commitment is reflected in our decision to align our Sustainability Framework (and internal processes) to internationally recognised carbon reporting and ESG frameworks and standards. This in turn shall enable us to fully understand our environmental, social and climate change related risks and opportunities and ensure that our disclosures are robust, transparent and comparable.
International standards
Our Greenhouse Gas (GHG) emissions reporting conforms to the GHG Protocol Corporate Standard and ISO14064. Our Sustainability Framework is being developed to align with internationally recognised standards for environmental and social management, ISO14001 and ISO26000, which ensures we have a robust ‘Plan, Do, Check, Act’ framework to monitor and drive the delivery of this Sustainability Strategy.
To inform the development of our Sustainability Framework we mapped our climate change, environmental and social performance and risks against international best practice ESG guidelines including Organisation for Economic Co-operation and Development (OECD), Task Force for Climate related Financial Disclosures (TCFD) and the UN Global Compact (UNGC). We shall monitor how our business delivers against these standards, which shall in turn help to build our ESG scoring and help us measure and manage ESG risks better.
Good governance
We recognise that responsibility for embedding ESG and sustainability into our business culture starts with a governance structure that involves our Executive Directors and Leadership Team. Our Chief Sustainability Officer reports on our group sustainability activities to the IEG Leadership team and in turn quarterly to the IEG Board. We have a Sustainability Team that engages with our service areas in the delivery of aspects of sustainability matters, and a Sustainability Working Group made up of Sustainability Champions that ensure sustainability is embedded in everyday thinking. An Annual Management Review of our Sustainability Framework shall be carried out in alignment with ISO14001 guidelines. We shall be publishing our progress annually on a Sustainability Dashboard so that everyone can see how we’re doing.
Our UN SDG goals
IEG is a member of Support the Goals, an initiative to rate and recognise the businesses that support the UN Global Goals. As such, we mapped the 17 SDGs on their relative importance and significance to our new business strategy and identified four that were of the highest priority to IEG, as detailed below.
