Assurance of metrics
Our performance indicators have received an appropriate level of assurance, such as independent third-party verification, regulatory reporting assurance processes, or through our own internal audit team. The performance tables on pages 45 to 54 of our sustainability report state what level of assurance has been obtained for each metric, and the audit opinions in relation to the metrics that have received external assurance for 2022/23, including the figures in our energy and carbon report and our remuneration report, can be found below.
The below indices provide us with a framework to tackle global, national, local and industry challenges across environmental, social and economic factors, and/or offer an external perspective on how we are doing.
The growing interest in Environmental, Social and Governance (ESG) performance by many global investment institutions has increased the need to understand the relationship between the corporate responsibility performance and shareholder value.
The S&P Global Corporate Sustainability Assessment (CSA) is an annual evaluation of companies’ sustainability practices. It covers over 10,000 companies from around the world. The CSA focuses on sustainability criteria that are both industry-specific and financially material.
We continue to participate in the S&P Global Corporate Sustainability Assessment. For 2022, our overall performance was 81% and we are proud to be a component of the iconic Dow Jones Sustainability World Index. Effective December 2022.
|Carbon Disclosure Project||The Carbon Disclosure Project (CDP) shows our commitment to reducing carbon emissions and adapting to climate change.||In 2022, we received CDP leadership scores in both climate change (A-) snd supplier engagement (A) assessments. Our previous years' responses to the CDP are available here.|
|FTSE4Good||The FTSE4Good Index Series measures the performance of companies who demonstrate strong ESG practices against globally recognised responsible business standards.||
United Utilities Group PLC has been included in the FTSE4Good Index Series since June 2001. Latest review June 2023.
Sustainalytics, a Morningstar company, is a leading independent ESG research, ratings and data firm. Its ESG Risk Ratings measure a company’s exposure to industry-specific material ESG risks and how well a company is managing those risks.
In November 2022, United Utilities recieved an ESG Risk Rating of 11.4 and was assessed by Sustainalytics to be at low risk of experiencing material financial impacts from ESG factors.
|Moody's ESG Solutions||
Moody’s ESG Solutions is a business unit of Moody’s Corporation that serves the growing global demand for ESG and climate insights. The group’s comprehensive offering includes ESG scores, climate data, Sustainability Ratings and Sustainable Finance certifier services that help fulfil the broad spectrum of ESG-related goals in risk management, equity and credit markets.
We received an overall Advanced ESG score by Moody's ESG Solutions of 64/100 in year 2021.
|Euronext Vigeo indices||
Powered by data from Moody’s ESG Solutions, these indices are designed to capture companies displaying best-in-class ESG performances.
|United Utilities Group PLC has been confirmed as a constituent of the Euronext Vigeo UK 20 and Europe 120 indices in year 2021.|
|MSCI||Provides ESG ratings on an AAA to CCC scale for over 6400 companies according to exposure to industry specific ESG risks and ability to manage those risks relative to peers.||As of October 2022, United Utilities Group PLC received an MSCI ESG rating of AA.|
|ISS ESG||ISS ESG's Corporate ESG Rating provides investors with comprehensive portfolio company research on social, environmental and governance factors to help identify and mitigate ESG risks and to capitalize on investment opportunities.||
In the annual review of July 2023 our status was assessed as Prime.
|GRESB||Rates the quality of information, available in the public domain, about our sustainability governance, implementation and operational performance data, and of our stakeholder engagement practices.||
Rated A in October 2022.
|Business for Societal Impact||We collate our community investment data using the Business for Societal Impact (B4SI) model. We assess spend in terms of employee time, cash and in kind contributions.||Our total investment in 2022/23 was £2.88 million.|
Measures and targets
To measure progress on delivering our purpose and creating value for all our stakeholders, we monitor our performance. We report on the issues shown to be of material interest to each stakeholder group.
- Supporting communities to be stronger – our work puts us at the heart of local communities in the North West.
- Caring for customers through trusted relationships – we put customers at the heart of everything we do.
- Creating a great place to work for all our employees – our employees are the face of the company and we could not deliver our services without them.
- Protecting and enhancing the environment – we rely on the natural environment and play a key role in improving the water, land and air of the North West.
- Delivering a sustainable return to investors – through prudent financial risk management and a strong track record of performance across all components of ESG.
- Innovating in partnership with suppliers – we rely on suppliers to deliver our services and to help identify ways to make them better.
The progress we have already made to operate in a responsible manner is demonstrated in our 2015-20 measures and targets performance.