Octopus Energy Group Limited
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 43 is higher than 68% 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 no specific carbon emissions data is currently available, the company has outlined significant reduction targets through the Science Based Targets initiative (SBTi). For the near term, Octopus Energy aims to reduce absolute Scope 1 and Scope 2 greenhouse gas emissions by 42% by FY2030, using FY2024 as the base year. Additionally, the company plans to decrease Scope 3 emissions from all sold electricity by 88% per MWh within the same timeframe. Furthermore, it commits to a 59% reduction in absolute Scope 3 emissions from the use of sold products for fossil fuels 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 90% reduction in total Scope 3 emissions. The company also aims to maintain the 88% reduction in Scope 3 emissions from sold electricity from FY2034 through FY2040. These targets reflect Octopus Energy's commitment to align with the 1.5°C climate goal, demonstrating a proactive approach to mitigating climate change impacts within the energy sector.
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 Group Limited is participating in some of the initiatives that 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.
