REG - Gore Street Energy - Publication of ESG and Sustainability Report

Gore Street Energy Storage FundAnnouncement

31/08/2022 07:00

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RNS Number : 6667X  Gore Street Energy Storage Fund PLC  31 August 2022

31 August 2022

Gore Street Energy Storage Fund plc

(the "Company" or "Gore Street")

Publication of Inaugural ESG and Sustainability Report

Gore Street Energy Storage Fund, London's first listed energy storage fund
supporting the transition to low carbon power, is pleased to announce the
publication of its annual ESG and Sustainability Report.

This inaugural report reflects and underlines the Company's commitment to
sustainability. It is designed to provide investors and stakeholders with a
succinct view of the Company's approach to this important subject and to
enhance the Company's existing portfolio reporting. As such, Gore Street has
taken significant strides toward improving transparency through ESG
disclosures, allowing the Company to be held accountable for meeting its
future targets and goals.

The Company has been working to ensure that sustainability is embedded
throughout its business strategy. This report tracks various ESG metrics,
including Scope 1, Scope 2, and Scope 3 greenhouse gas emissions and the
Company's carbon footprint.

The report will be available on the Company's website:
https://www.gsenergystoragefund.com/content/investors/shareholder-literature

CEO of Gore Street Capital, the investment adviser to the Company, Alex
O'Cinneide commented:

"I am pleased to announce the publication of the Company's first ESG and
Sustainability Report. As the world grapples with the severity of the climate
crisis and the energy transition gathers pace in replacing fossil fuels with
sustainable alternatives, the necessity of energy storage is ever more
critical as we transition toward a greener grid and economy, in which the
global economy and society can thrive. Energy storage sits at the forefront of
the transition to a low carbon society, and the Company is playing an
important role in the decarbonisation of electricity grids internationally."

 

Key achievements of the Company include:

 

·    During the year, GSF greatly increased its portfolio, which now
consists of 291.6 MW of operational assets and 407 MW of projects under
construction. The Company's operational assets helped avoid 5,454.42 tCO2e and
store 7,884.56 MWh of renewable energy.

 

·    Diversity in the workplace leads to better business. At the financial
year end in March 2022, two-thirds of the Investment Manager's executive team
were from non-white ethnicities, and women accounted for nearly half of the
employees at the Investment Manager.

 

·    We set out to better understand the impacts of our assets and provide
greater transparency to stakeholders. In choosing to be an Article 8 SFDR
Fund, we are committing to greater data capture and disclosure levels as we
aim to form a more complete understanding of our environmental impact.

During the year, the Investment Manager enhanced its ESG capabilities by
hiring an in-house ESG team, who are responsible for shaping and advancing the
ESG strategy and putting it into practice.

 

ENDS

The Legal Entity Identifier of the Company is 213800GPUNVGG81G4O21.

For further information:

 Gore Street Capital Limited
 Alex O'Cinneide / Paula Travesso                                  Tel: +44 (0) 20 3826 0290

 Shore Capital (Joint Corporate Broker)
 Anita Ghanekar / Rose Ramsden / Iain Sexton (Corporate Advisory)  Tel: +44 (0) 20 7 408 4090

  Fiona Conroy (Corporate Broking)

 

 J. P. Morgan Cazenove (Joint Corporate Broker)
 William Simmonds / Jérémie Birnbaum (Corporate Finance)    Tel: +44 (0) 20 7742 4000

 

Buchanan (Media enquiries)

 Charles Ryland / Henry Wilson / George Beale  Tel: +44 (0) 20 7466 5000
                                               Email: Gorestreet@buchanan.uk.com

 

Notes to Editors

About Gore Street Energy Storage Fund plc

Gore Street is London's first listed energy storage fund and seeks to provide
Shareholders with a significant opportunity to invest in a diversified
portfolio of utility scale energy storage projects. In addition to growth
through exploiting its considerable pipeline, the Company aims to deliver
consistent and robust dividend yield as income distributions to its
Shareholders.

 

 

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