Sustainability reporting of the year, EMEA: United Utilities

2022 marked the first time the UK's United Utilities included disclosures based on the draft framework provided by the Taskforce on Nature-related Financial Disclosures (TNFD).

The London-listed utility, which provides water and wastewater services in the North West of England, said it was "very supportive of the direction of travel that sustainability reporting is taking".

It came in the third year in which it reported in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

United Utilities says sustainability is at the core of its integrated annual report.

Its stakeholder materiality assessment sets out issues in a matrix with consideration to the level of interest to stakeholders and effect on its ability to create value, and this shapes the information it provides in its reporting, United Utilities said.

The six 'capitals' in its business model detail its reliance on the environment, its people and relationships between these.
In its environmental performance appraisal it discloses some of the measures it takes to protect and enhance the natural environment, including reducing pollution and improving biodiversity, as well as identifying areas that require increased focus.

Its TCFD disclosure outlines the organisation's six carbon pledges on its journey to net zero, two of which it claims have been achieved, with commitments including woodland creation, peatland restoration, renewable energy and electric vehicles, as well as science-based targets for reducing Scope 1, 2 and 3 emissions.

As a contributing member to the TNFD forum, United Utilities has also become an early adopter of TNFD reporting. It also reports on diversity and inclusion aspects.