Our sustainability strategy
As a leader in the energy sector, we have a big part to play in enabling decarbonisation here in Aotearoa, New Zealand – and globally. Our focus is on creating smarter energy solutions that meet the evolving needs of our customers, lower emissions, while keeping costs affordable for our customers. We refer to this as our Symphony strategy and sustainability is at the heart of this.
Some of our initiatives in action:
We believe our approach to sustainability breaks through silos, as we collaborate with community, local council, government, customers, suppliers, academic institutions, commercial partners, and regulators to deliver innovative, long-term solutions and build shared resilience.
- Vector electrifies Auckland bus depots: Vector has joined forces with Auckland Transport (AT) to help electrify Auckland’s bus fleet. That’s no mean feat with 1,400 buses to be converted to zero emissions vehicles by 2030. The first fully electric bus depot was opened in Panmure.
- Development of Diverge for faster and more reliable data processing: In partnership with Amazon web services (AWS), Vector Technology Services (VTS) has developed Diverge, which enables real-time energy data access to support faster billing, smarter grids, and a cleaner energy future.
- Exploring distributed generation: Working with X, the moonshot factory, we're developing the tools and modelling needed to manage the networks of the future, including how to get more solar and battery storage into our network.
- Reducing our own emissions: To lead by example, we have been taking actions to reduce our own operational emissions. In FY2021 Vector set an absolute emissions reduction target to reduce scope 1 and 2 emissions (excluding electricity distribution losses) by 53.5% by FY2030 from a FY2020 baseline. In FY2025 we achieved this, five years ahead of the original FY203o target date, with a reduction of 55%. It is worth noting that meeting this target does not guarantee that the emissions reductions can be maintained in the following years.
Targets and reports
Below is a summary of key metrics, targets and sustainability reports. Our disclosure of metrics supports our stakeholders to make informed choices to support their sustainability transition.
Carbon footprint
Vector’s Scope 1, 2, and 3 emissions are disclosed annually in our annual report, climate-related disclosure report, and greenhouse gas emissions inventory report.
Emissions trend by scope in tCO2e:
Emissions Category | FY20 (base year) | FY25 | % Change |
|---|---|---|---|
Scope 1 | 22,933 | 10,449 | -54% |
Scope 2 | 33,087 | 39,476 | 19% |
Scope 3 | 1,656,403 | 744,316 | -55% |
TOTAL | 1,712,423 | 794,241 | -54% |
Science-based reduction targets
Vector is targeting a reduction of absolute Scope 1 & 2 greenhouse gas emissions (excluding electricity line losses) of 53.5% by FY2030 from a FY2020 base year. The targets are aligned with Science Based Target initiative methodology and consistent with reductions required to keep global warming to 1.5C.
Taskforce on Climate Related Financial Disclosures
Our climate related disclosures report shows that climate change brings both risks and opportunities for Vector, and that with our diverse portfolio of energy solutions businesses, we believe we are well positioned to accelerate the transition to a lower carbon energy system. This is aligned with our aim to enable decarbonisation while at the same time delivering safe, reliable and affordable energy solutions for customers.
Sustainability Governance
Information regarding our corporate policies, including our sustainability, environmental, diversity and inclusion, whistle-blower, and our code of conduct can be found on our policy page.
Supply Chain Management
Vector is working with our suppliers to improve supply chain transparency and be part of our sustainability transition. Vector’s Supplier Code of Conduct, sets out our social, environmental and ethical requirement.
Environmental Certification
Vector is certified to and maintains its ISO14001 standard (since 2017).
Sustainable Development Goals
Vector has identified five priority goals from the United Nations Sustainable Development Goals that we will actively contribute to in the short term.
- Ensure access to affordable, reliable, sustainable and modern energy for all. Disruption of the current energy model will result in increased renewable energy while creating opportunities for new models to lower costs for all.
- Ensure sustainable consumption and production patterns. Circular solutions reduce waste and carbon, create efficiencies and commercial opportunities, and organisations play a key role in investigating possible solutions. Procurement and supply chain risks & opportunities need to be monitored and managed. See our Supplier Code of Conduct.
- Make cities inclusive, safe, resilient and sustainable. Holistic goal that aligns well to Auckland’s ambitions – resilience, energy efficiency and affordable housing.
- Take urgent actions to combat climate change and its impacts. The transition to a low carbon economy will require commitment from the energy sector. With an extensive network of assets the business is also exposed to the physical risks of climate change. Both of these require a business response.
- Underpinned by: Revitalise the global partnerships for sustainable development. Collaboration with other businesses, government and other organisations is a key foundation for achieving the goals. Vector will continue to develop partnerships within New Zealand and globally.