What makes a sustainability leader? Find out why Octopus is edie’s Business of the Year for 2022
Applications are now open for edie’s 2023 Awards, which will recognise the leaders, movers and shakers in the green economy. To inspire you, we’re showcasing the achievements of previous winners, starting with 2022’s Business of the Year, Octopus.
Shortlisted for our Business of the Year Award 2022 were Octopus, Mitie, Polestar, RSK, Suzano S.A., Arowana and Willmott Dixon. Willmott Dixon was highly commended but, ultimately, Octopus took the crown.
Our panel of expert judges agreed that Octopus has taken bold action to lead on sustainability, reduce environmental impact and promote the low-carbon economy. From its inception in 2015, the organisation has used sustainability to gain a competitive edge and maximise stakeholder benefits, by expanding licensin partnerships and joint ventures to bring affordable renewable energy to the global public. It is targeting 100 million customers on its platform by 2027. This, it claims, could save as much as 350,000 MtCO2e every year.
Octopus has achieved business growth and made operational changes at the same time as limiting its environmental impact. It has done this by investing millions of pounds in technology, operations, customer, and government relations to deliver low-cost green energy.
All of the energy company’s operations are powered by 100% green energy, and it is accelerating the race to net-zero, with L3bn worth of renewable generation investments already saving the equivalent of 3.8 million tonnes of CO2 each year. It became one of Europe’s largest green generation operators by purchasing Octopus Renewables On top of that, it runs numerous carbon-cutting initiatives, such as its cycle-to-work and EV Electric Dreams salary sacrifice schemes, working from home, and reduction of travel between sites.
It is also in the process of building the world’s largest “living lab” – called Centre for Net Zero – which it hopes will accelerate the decarbonisation of heat and transport.
On the consumer side of things, Octopus encourages customers to use energy when it is at its most abundant and cheapest via its Agile Octopus tariff, and through the Big Switch On initiative. The business even invests in macro and micro renewables to directly power 50% of its customers. Plus, a fifth of electric vehicle drivers in the UK have chosen Octopus Go and its new Intelligent Octopus tariff. Its deal with Generation Investment Management funding – run by former US vice president Al Gore – put its value at $3.36bn.
Throughout the pandemic, the business has championed environmental and social sustainability and driven the green economy. It has done this by forecasting likely price rises, reassuring customers, and lobbying the government to support all consumers through this tough time.
In alignment with global climate and sustainability frameworks such as Sustainable Development Goals, the organisation’s model for affordable clean energy reduces carbon emissions, supports the environment, employment, responsible energy use, and more. Octopus Energy’s future strategy is to continue driving a sustainable global energy system faster and more cheaply through technology, and to initiate more projects to improve biodiversity in the UK.
edie’s judges said: “As the fastest growing green energy supplier in the UK, Octopus Energy is accelerating the race to net-zero and bringing other suppliers along. Our Business of the Year for 2022 has demonstrated true industry leadership, breaking down technology barriers and finding solutions to challenges which decarbonise the energy demands of their consumers – a fantastic entry all round.”
Are you our next winner?
Now in its 16th year, the world’s largest sustainable business awards scheme – formerly known as the Sustainability Leaders Awards – continues to champion bold and brilliant climate leadership. From the most ambitious net-zero carbon programmes through to cutting-edge green innovations; from impactful climate partnerships and social sustainability initiatives to the heroes on the ground who are driving positive change.
The edie Awards are hosted during our flagship Business Leadership Month, offering a unique opportunity to have your sustainability achievements recognised and admired by thousands of businesses and climate experts. Winning an edie Award empowers teams, inspires stakeholders and accelerates sustainable business growth.
Entries for the awards are NOW OPEN and the deadline for entries is 14 October. The winners will then be revealed at a ceremony in London on 30 March 2023. Click here for full details and to enter.
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