Octopus Energy Group Limited Sustainability Profile
Octopus Energy Group Limited, commonly known as Octopus Energy, is a leading renewable energy provider headquartered in Great Britain. Founded in 2015, the company has rapidly established itself in the energy sector, focusing on sustainable energy solutions across the UK and several international markets. Specialising in green energy supply, Octopus Energy offers innovative products such as flexible tariffs and smart technology integration, setting it apart from traditional energy providers. The company has achieved significant milestones, including rapid customer growth and recognition for its customer service excellence. With a commitment to transparency and sustainability, Octopus Energy is well-positioned in the market, championing the transition to renewable energy while delivering competitive pricing and exceptional service.
DitchCarbon Score
How does Octopus Energy Group Limited'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 Financial Intermediation 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 Group Limited's score of 46 is higher than 66% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Octopus Energy Group Limited's reported carbon emissions
Octopus Energy Group Limited, headquartered in Great Britain, has set ambitious climate commitments aimed at achieving net-zero greenhouse gas emissions across its value chain by FY2040. Although specific emissions data for the most recent year is not available, the company has outlined significant reduction targets. For the near term, Octopus Energy commits to reducing absolute Scope 1 and Scope 2 greenhouse gas emissions by 42% by FY2030, using FY2024 as the base year. Additionally, it aims to reduce Scope 3 emissions from all sold electricity by 88% per MWh within the same timeframe. Furthermore, the company plans to cut absolute Scope 3 emissions from the use of sold products for fossil fuels by 59% by FY2034. In the long term, Octopus Energy has set a target to reduce absolute Scope 1 and Scope 2 emissions by 90% by FY2040, alongside a similar 90% reduction for total Scope 3 emissions. The company also commits to maintaining Scope 3 emissions from all sold electricity at 88% per MWh from FY2034 through FY2040. These targets are aligned with the Science Based Targets initiative (SBTi) and reflect the company's commitment to climate action within the electric utilities sector.
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Octopus Energy Group Limited's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Octopus Energy Group Limited has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
