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Statera Energy
Embedding ESG priorities to support future change-of-ownership
Name
Statera Energy
Sector
Energy Infrastructure
Size
£152mn total assets
62 colleagues
Ownership
Private Equity
Fun Fact
A high-renewables electricity grid needs solutions to balance supply & demand. Statera’s building 17 gigawatts of capacity – more than ¼ of the UK’s entire current peak energy demand!
The Challenge
Statera’s core mission supports – indeed drives – the UK’s transition to Net Zero. In 2023, when we were introduced, they were exponentially growing with huge ambitions, but their sustainability plan was dry, compliance-oriented and divorced from the commercial narrative. We worked to rectify this.
Our Approach (We...)
- Started with the big picture facts – assessing materiality of impacts, risks & opportunities
- Embedded resulting priorities into existing company frameworks for strategy, values etc.
- Developed commercially-focused plans and KPIs
- Evolved the corporate narrative to authentically incorporate ESG
What was different
- Pragmatic and thoughtful about inherent conflicts around land-use change and gas use in transition
- Wide-ranging, open engagement with colleagues that brought to life important cultural nuances
- Commercial edge to build traction at a period of high focus and scrutiny on the numbers
Results
- Clear, commercially-aligned plans supported by the Board
- Coherent corporate/investor narrative
- Successful £500m acquisition by EQT Infrastructure followed in 2023/4
- Our work was subsequently validated / echoed by McKinsey's post-acquisition review
What they had to say:
"We engaged Perigon to carry out a wide-ranging analysis and double materiality assessment of our activities, to engage with stakeholders to understand priorities, and to define recommendations for a high level ESG strategy. Despite being driven by a very tight timeline, the resulting analysis and recommendations were of extremely high quality and reflected a good understanding of Statera, its culture and its objectives. The Board was delighted with the results and has adopted a focused set of actions for internal progression."
Gillian Watson, Independent Chairperson
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