Impact report 2024

The core of our business is clean energy generation, replacing the need to burn fossil fuels to generate power and thereby reducing CO2 emissions. The graph below shows the ‘impact portfolio’ generation and storage capacity we have enabled over time, either through assets we have owned or projects we have funded. This relates to our ‘impact portfolio’ of current projects, whose aggregate capacity (in MW) is represented by the dark blue bars.

Whilst we do not report on the generation or emissions reductions delivered by projects which we no longer own or fund, the light blue bars on the chart additionally show the cumulative capacity of Thrive’s ‘legacy projects’ – those that have now been sold or repaid. This demonstrates the scale of the renewable capacity and impact our investors have delivered over time. The green bar for 2024 represents the additional match funded capacity enabled for development projects Abergorki and Whitelaw Brae which Thrive has originated and manages via the Fair Play Clean Energy joint venture with TopCashback Sustainability Ltd.

Once the development capacity we have acquired is operational (in 2027), we will generate 75% more green electricity than the portfolio generated in 2024.

We continue to measure our performance using the Sustainable Develpoment Goals (SDGs) Action Manager, developed by the United Nations Global Compact and B Lab. This tool enables us to analyse operations, policies and business models in terms of both positive impact and risks relating to the SDGs.

In 2024, Thrive continued to perform above average across all the UNSDGs that are relevant to our business. Compared to the UK average, our score is particularly high for five of these goals reflecting the core purpose of the business – funding and building clean energy infrastructure to help tackle climate change. We also performed above average for SDG 16 ‘Peace, justice and strong institutions’, reflecting our commitment to business as a force for good, incorporating transparency, robust reporting and high standards of governance. Read more about the UNSDG’s and why we choose to adopt them here.