Vector Achieves Strong Result in Environmental Stewardship
Vector Achieves Strong Result in Environmental Stewardship Disclosure Report
Emissions reductions initiatives, governance and value chain engagement were among the company’s highest scoring categories.
Vector, the country’s largest electricity distributor, was yesterday given the ‘best first-time performance’ award, and an above average overall score for the sector and region, at an event marking the release of the CDP 2018 Regional Disclosure Report Launch.
The accolades were received in relation to companies from Australia and New Zealand who disclosed their level of environmental stewardship, and actions and approaches in managing climate change. It was the first time a CDP award had been given in New Zealand.
Vector Chief Executive Officer Simon Mackenzie said he was proud of the company’s leadership on sustainability.
“Measuring and disclosing climate risk means we’re better able to manage it,” Mr Mackenzie said.
“Disclosing our actions through the CDP means we’re providing transparency into the way we think about climate change in relation to our business.”
“Having achieved top marks for a first-time submitter, it’s also pleasing to see we come in above average for our sector but also the region.”
“We believe leadership in sustainability is good for business as it provides us with better visibility of the potential role of new and more sustainable energy technologies in driving commercial benefit and material value.”
Vector’s overall score of B was higher than the average score for electric utilities of C, and higher than the Oceania regional average of C.
Published by CDP, formerly the Carbon Disclosure Project, the Regional Disclosure Report enables companies, cities, states and regions to measure and manage their environmental impact, with companies from specific sectors being required to disclose data that is material to their industry.