Gore Street Energy Storage Fund PLC Publication of ESG and Sustainability Report (6667X)
August 31 2022 - 2:01AM
UK Regulatory
TIDMGSF
RNS Number : 6667X
Gore Street Energy Storage Fund PLC
31 August 2022
31 August 2022
Gore Street Energy Storage Fund plc
(the "Company" or "Gore Street")
Publication of Inaugural ESG and Sustainability Report
Gore Street Energy Storage Fund, London's first listed energy
storage fund supporting the transition to low carbon power, is
pleased to announce the publication of its annual ESG and
Sustainability Report.
This inaugural report reflects and underlines the Company's
commitment to sustainability. It is designed to provide investors
and stakeholders with a succinct view of the Company's approach to
this important subject and to enhance the Company's existing
portfolio reporting. As such, Gore Street has taken significant
strides toward improving transparency through ESG disclosures,
allowing the Company to be held accountable for meeting its future
targets and goals.
The Company has been working to ensure that sustainability is
embedded throughout its business strategy. This report tracks
various ESG metrics, including Scope 1, Scope 2, and Scope 3
greenhouse gas emissions and the Company's carbon footprint.
The report will be available on the Company's website:
https://www.gsenergystoragefund.com/content/investors/shareholder-literature
CEO of Gore Street Capital, the investment adviser to the
Company, Alex O'Cinneide commented:
"I am pleased to announce the publication of the Company's first
ESG and Sustainability Report. As the world grapples with the
severity of the climate crisis and the energy transition gathers
pace in replacing fossil fuels with sustainable alternatives, the
necessity of energy storage is ever more critical as we transition
toward a greener grid and economy, in which the global economy and
society can thrive. Energy storage sits at the forefront of the
transition to a low carbon society, and the Company is playing an
important role in the decarbonisation of electricity grids
internationally."
Key achievements of the Company include:
-- During the year, GSF greatly increased its portfolio, which
now consists of 291.6 MW of operational assets and 407 MW of
projects under construction. The Company's operational assets
helped avoid 5,454.42 tCO2e and store 7,884.56 MWh of renewable
energy.
-- Diversity in the workplace leads to better business. At the
financial year end in March 2022, two-thirds of the Investment
Manager's executive team were from non-white ethnicities, and women
accounted for nearly half of the employees at the Investment
Manager.
-- We set out to better understand the impacts of our assets and provide greater transparency to stakeholders. In choosing to be an Article 8 SFDR Fund, we are committing to greater data capture and disclosure levels as we aim to form a more complete understanding of our environmental impact.
During the year, the Investment Manager enhanced its ESG
capabilities by hiring an in-house ESG team, who are responsible
for shaping and advancing the ESG strategy and putting it into
practice.
ENDS
The Legal Entity Identifier of the Company is
213800GPUNVGG81G4O21.
For further information:
Gore Street Capital Limited
Alex O'Cinneide / Paula Travesso Tel: +44 (0) 20 3826 0290
Shore Capital (Joint Corporate Broker)
Anita Ghanekar / Rose Ramsden / Iain Sexton (Corporate Advisory) Tel: +44 (0) 20 7 408 4090
Fiona Conroy (Corporate Broking)
J. P. Morgan Cazenove (Joint Corporate Broker)
William Simmonds / Jérémie Birnbaum Tel: +44 (0) 20 7742
(Corporate Finance) 4000
Buchanan (Media enquiries)
Charles Ryland / Henry Wilson / George Beale Tel: +44 (0) 20
7466 5000
Email: Gorestreet@buchanan.uk.com
Notes to Editors
About Gore Street Energy Storage Fund plc
Gore Street is London's first listed energy storage fund and
seeks to provide Shareholders with a significant opportunity to
invest in a diversified portfolio of utility scale energy storage
projects. In addition to growth through exploiting its considerable
pipeline, the Company aims to deliver consistent and robust
dividend yield as income distributions to its Shareholders.
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END
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