We will develop and connect renewable energy to decarbonise the electricity system by 2040. We will invest in the development of new renewable generation, including onshore and offshore wind and solar, and will significantly increase in the amount of renewable generation connected to our electricity networks.
ESB’s 2040 strategy Driven to Make a Difference: Net Zero by 2040 sets out a clear roadmap for ESB to achieve net zero emissions by 2040. It also commits ESB to a Science Based Target for 2030 to provide assurance that we are decarbonising our operations at the necessary pace and scale.
The strategy sets out a pathway to achieve net zero in a way that supports our continued growth and financial capacity to invest in a net zero future.
Three key objectives are at the core of our Net Zero ambition
We will invest in infrastructure to maintain reliable and secure electricity supplies. This is necessary to accommodate high levels of intermittent renewable generation on the system and to support a growing dependence on electricity across all sectors of society. We will develop smarter, more resilient networks to accommodate the electrification of transport and heating. We will also invest in storage assets and zero carbon dispatchable generation that can compete to meet society’s need for non-intermittent sources of energy, and ensure continuity of supply.
We will empower, enable and support customers and communities to achieve net zero. This reflects our longstanding commitment to providing the latest and most innovative infrastructure, products and services to help our customers live more efficiently and sustainably.
Driven to Make a Difference: Net Zero by 2040 has been developed using ESB’s Strategy Framework which ensures that strategic actions and decisions are consistent with our purpose and values.
Organisational alignment with the strategy will be achieved through ESB’s Integrated Business Planning (IBP) process, which aligns strategic, financial and people planning at Group- and Directorate/ Function- level.
UN Sustainable Development Goals
ESB’s strategy directly supports UN Sustainable Development Goals 7,9 and 13. These map to our strategic objectives to generate and connect renewable generation, provide resilient, reliable infrastructure and to enable customers and communities to achieve net zero.
Four foundational capabilities are core to the delivery of our strategy;
- EMPOWERED PEOPLE - We will create a flexible, values-based and inclusive culture that empowers people to deliver results and achieve their potential.
- DIGITAL and DATA DRIVEN - We will leverage data and digital technologies to enhance our people and customer experiences, and create smarter, more efficient infrastructure and products.
- FINANCIAL STRENGTH - We will maintain the financial performance and strength required to invest in a zero carbon future.
- SUSTAINABLE and SOCIALLY RESPONSIBLE - We will step forward on social and environmental responsibility, cultivating a safe, sound and sustainable ethos in line with our values.