Energy Utility Company’s ESG Reporting and Carbon Strategy Project
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An energy utility company required support with environmental, social, and governance (ESG) reporting and performance metrics, carbon strategies, and legislative actions. The overall project objective was three-fold, and included: i) increasing transparency of sustainability and ESG disclosures and efforts; ii) alignment with state legislation; and iii) developing tools to allow the energy utility company to independently track and monitor efforts as the company progresses toward sustainability and ESG goals.

Geosyntec's Scope of Services

Geosyntec conducted a peer benchmarking study consisting of an assessment and comparison of the client's current disclosures to those publicly reported by 14 selected peer companies. This data was comprised of reported metrics related to ESG guidelines and frameworks, policies, health and safety, air emissions, greenhouse gas (GHG) emissions, energy use, water use, waste management, spills, social performance, gender diversity, and economic contributions. A data gap analysis was conducted using a risk-based qualitative and quantitative perspective and a summary memorandum highlighted opportunities to improve the client's ESG reporting strategy over short-term and medium-term time frames. Geosyntec designed and developed an ESG performance metric report template in alignment with the current ESG report and the Global Real Estate Sustainability Benchmark (GRESB) framework.

Our team then developed a white paper detailing carbon management goals and potential barriers for state legislators. Given their role as an important utility in the area, the client announced a plan to reduce carbon equivalent emissions to zero, and ultimately to go beyond net zero carbon. A pathway was developed to use the company's energy resources and influence to help the state, its customers, and local communities reduce carbon impacts. Geosyntec assessed the potential carbon neutral or carbon negative benefit for different strategies based on the most current GHG inventory and developed a comprehensive roadmap to achieving net zero carbon status.

After a comprehensive review of the client's recent sustainability report and subsequent activities, Geosyntec drafted an updated sustainability report including recommendations and areas of improvement to further enhance transparency communicated via discussions, presentations, and working sessions.

Geosyntec developed a matrix documenting the client's ESG position according to top industry frameworks and standards. The matrix includes all relevant ESG frameworks aligned to GRI (Global Reporting Initiative); an evaluation of whether information presented on the client's website or in relevant documentation aligns to the disclosures recommended by the applicable ESG frameworks and standards; and, an action plan identifying recommendations and next steps for the company with respect to each disclosure.

Notable Accomplishments

Geosyntec successfully developed, evaluated, and enhanced the energy utility client’s sustainability and ESG program. Our team used the client’s carbon equivalent emissions reduction plan to facilitate the necessary partnerships and policies needed achieve a healthy and sustainable future. The matrix developed to document the client’s ESG position can be updated in real time and is a tool for the client to monitor its progress as it works towards achieving its sustainability and ESG goals.