Performance, Planet, People
Beyond the core objective of accelerating the transition to net zero, ORIT seeks to generate additional impact through Performance, Planet and People impact initiatives
Performance
Delivering investment performance is fundamental to the Impact Strategy and to being an Impact Fund. ORIT builds and operates a diversified portfolio of Renewable Energy Assets, mitigating the risk of losses through robust governance structures, rigorous due diligence, risk analysis and asset optimisation activities to deliver investment return resilience and the maximum amount of green energy.
1,569GWh
Potential annual renewable electricity generated once fully operational (31/03/2024)
The Board views the Impact Strategy as integral to the delivery of the core investment objective, and not as a cost to the Company. ESG processes and policies are a prudent risk management tool that improve the financial performance of the Company while reducing risks. The ultimate aim is to increase capacity to produce green power and maximise the green electrons produced by the operational portfolio.
Examples of Initiatives:
Performance
- Implementation of advanced analytics software across wind portfolio to identify wind turbine under-performance.
- Dynamic changes in wind turbine speeds to reduce downtime and lost production, whilst ensuring species protection.
- Heat mapping drone technology for early identification of areas of stress on solar equipment.
Planet
ORIT recognises the fundamental role that renewable energy plays in meeting net zero emissions targets, with an inherently positive impact on the environment. ORIT considers environmental factors to mitigate risks associated with the construction and operation of assets, enhancing environmental potential where possible.
400k
Estimated annual equivalent tonnes of carbon avoided once fully operational (31/03/2024)
Examples of Initiatives:
Planet
- ORIT provided support to Citizens UK for a national project aimed at diversifying climate leadership and advancing climate justice through community organising.
- Beehives installed at Chisbon Solar Farm, providing pollination services to local flora.
- ORIT's asset managers participate in a biodiversity working group project on standardising ecological reporting and is sharing results of its site's surveys for research.
People
Investing in renewable energy has natural positive impacts on people (particularly for health) and for the wider society by benefiting the economy. ORIT evaluates social considerations to mitigate risks and promote a 'Just Transition' to clean energy.
8,500+
Direct beneficiaries from social initiatives in 2023 (31/03/2024)
Examples of Initiatives:
People
- First-round awardees from the Cumberhead Community Benefits Fund for the Coalburn and Lesmahagow areas' yearly pot received funding: Three Valleys Women Walking Football Club, OutLET, Lesmahagow Development Trust and Coalburn Men's Shed.
- 16 previously unemployed individuals have completed their ORIT-sponsored green retrofit training with Generation. Graduated only in May, 3 individuals have already been placed into jobs paying above the living wage.
Some social factors that ORIT and the Investment Manager consider to be the most important during due diligence and ongoing monitoring of assets include:
