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Octopus Energy is a renewable energy group founded in 2015 with the backing of British asset management company Octopus Group. By 2022, it had become one of the United Kingdom's largest suppliers of electricity and gas, with over 3.4 million domestic customers. Based in London, it powers homes in the UK, France, Germany, Italy, Japan, New Zealand, Spain and the US, making it a key player in the energy transition in these countries.
Summary
Octopus Energy performs poorly in the 2024 Urban Benchmark, with clear potential to improve its reporting on a substantial number of sustainability topics. The company’s business model focuses on delivering affordable, renewable energy. Although it discloses actions to reduce energy bills for vulnerable customers, it lacks public disclosure on topics such as air pollution, energy efficiency and the reliability of energy services. This lack of transparency makes it difficult to evaluate the company’s impact on people and the planet, which can diminish stakeholder trust and lead to misalignment with regulatory requirements.
To foster positive change, Octopus Energy should identify its most significant sustainability risks and opportunities through a materiality assessment. Additionally, it should draft and publish a sustainability strategy that integrates these priorities into its overall business strategy, and assign clear accountability for strategy oversight and implementation. Octopus Energy is also encouraged to establish measurable, time-bound and, where possible, science-based targets to reduce its negative impacts, while regularly reporting on progress against its sustainability goals. The company should further develop public policy commitments to respect fundamental human and labour rights.
Ranking position
#211
/300
Total score
1.8
/100
Measurement area
Score
Rank (0-300)
Measurement area
Governance & Strategy
Score
# 1
0.0
/100
Rank (0-300)
#181
Measurement area
Inclusive Cities
Score
# 1
3.3
/100
Rank (0-300)
#208
Measurement area
Healthy Cities
Score
# 1
0.0
/100
Rank (0-300)
#174
Measurement area
Climate Proof & Resilient Cities
Score
# 1
0.0
/100
Rank (0-300)
#170
Measurement area
Core Social Indicators
Score
# 1
5.6
/100
Rank (0-300)
#160
Industries
Industries
Energy distribution
#39
More about the company
Headquarters
United Kingdom
Ownership structure
Private
Revenue
-
Number of employees
-
Website
https://octopus.energy/
63716
