Octopus Energy
Octopus Energy Limited, commonly known as Octopus Energy, is a leading renewable energy supplier based in London, UK. Founded in 2015, the company has rapidly established itself in the energy sector, focusing on providing sustainable electricity and gas solutions to residential and business customers across the UK and several international markets. Specialising in green energy, Octopus Energy offers unique products such as flexible tariffs and innovative technology that enable customers to manage their energy consumption effectively. The company is renowned for its commitment to customer service and transparency, earning accolades for its user-friendly platform and competitive pricing. With a strong market position, Octopus Energy has achieved significant milestones, including rapid customer growth and recognition as one of the fastest-growing energy suppliers in the UK. Its dedication to sustainability and innovation continues to set it apart in the competitive energy landscape.
DitchCarbon Score
How does Octopus Energy's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Electricity Supply industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Octopus Energy's score of 33 is higher than 68% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Octopus Energy's reported carbon emissions
In 2023, Octopus Energy reported total carbon emissions of approximately 2.99 million tonnes CO2e. This figure includes 223,450 tonnes CO2e from Scope 1 emissions, primarily from mobile combustion, and 122,000 tonnes CO2e from Scope 2 emissions. The majority of their emissions, about 36.1 million tonnes CO2e, fall under Scope 3, which encompasses indirect emissions from their value chain, including significant contributions from purchased goods and services. Comparatively, in 2022, their total emissions were around 1.64 million tonnes CO2e, with Scope 1 emissions at 0 tonnes CO2e, Scope 2 emissions at 110,000 tonnes CO2e, and Scope 3 emissions at approximately 1.26 million tonnes CO2e. This indicates a substantial increase in emissions in 2023, particularly in Scope 3. Octopus Energy has committed to achieving net-zero emissions across all scopes by 2050, aligning with the Science Based Targets initiative (SBTi). This long-term commitment reflects their dedication to reducing their carbon footprint and contributing to global climate goals. The company is actively working towards these targets, although specific interim reduction targets have not been detailed.
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Add to project2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | - | - | 000,000 |
| Scope 2 | 5,000 | 000,000 | 000,000 |
| Scope 3 | 1,500,700 | 0,000,000 | 00,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Octopus Energy is committed to some reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
