Responsible business designed to enable a sustainably energized world

 

2023 Corporate Sustainability Report

Sustainability Commitment

Energy Vault is committed to sustainability as reflected in our core mission, our focus on sustainable business management practices, and our dedication to sustainable production design and supply chain management. Energy Vault respects our business relationships and works to be a good responsible partner to our suppliers and customers around the world.

 

Energy Vault's 2023
Sustainability Report

In this our second annual Corporate Sustainability Report, we share early-stage data and 2023 activations of newly established sustainability infrastructure, systems, protocols, standards, and metrics from which our organization measures current and future success.​

Task Force on Climate-Related Financial Disclosures | TCFD

In 2023, we worked to better understand the recommendations of the Task Force on Climate-related Financial Disclosures [TCFD] and how they could be implemented at Energy Vault. We also conducted our first climate scenario analysis, assessing both transition and physical risks across our global operations.​

Double Materiality Tiers

1

  • Human rights in the supply chain
  • Raw materials usage and availability

2

  • Suppliers and contractors due diligence
  • Worker health and safety
  • People development
  • Non-recyclable waste
  • Impact in the value chain
  • Technology innovation

3

  • Corruption prevention
  • Property rights compliance
  • Data protection and privacy regulation compliance
  • Customer grievance management
  • Job creation
  • Technology innovation

Sustainability Task Force

Energy Vault established a Sustainability Task Force (STF) to encourage the interdepartmental collaboration and cross-functional support required to embed sustainability into the nucleus of employee behavior. At the department level, Sustainability Task Force members are responsible for identifying functional sustainability metrics, setting sustainability goals, tracking ESG performance, and contributing to sustainability-related reporting.​

The STF is an incredible way to engage and collaborate with the sustainability leaders at Energy Vault. It's a rewarding experience working through the challenges and opportunities of infusing sustainability into every single department. 
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Edward Johnson

Sustainability

Sustainability needs development in all aspects and by everyone. We engage under-represented industries (concrete, steel, manufacturing, local labor), creating solutions to uniquely enable sustainability, rather than focusing on incumbent, import-oriented solutions.
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Sachin Deshpande

Operations

Being on the STF means holding myself accountable to always keep sustainability in mind when performing my day-to-day job and interacting with different teams.
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Carly Yarborough

Information Technology

Being part of the STF signifies a commitment to transformative change. It's an opportunity to lead our company, Energy Vault, towards a more sustainable future by embedding environmental responsibility into every facet of our operations. 
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Hanna Laikin

Marketing

I like to get involved in a company's strategy to reduce negative environmental impact. The Sustainability Task Force is such a great initiative. I like to analyze our company's sustainability practices against environmental metrics
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Mithila Utrankar

Legal

The World must evolve from a fossil fuels-based energy world to a safe, reliable, renewables-based energy world. Energy Vault is contributing by building the bridge that will help ensure a successful transition.
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Hugo de Bolio

Operations

Supplier relationship management and visibility into our supply chain affords us an opportunity to enhance our impact and growth within sustainability with our partners. It establishes a road to continuously improving standards and output.
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Scott Miles

Procurement

Sustainability is core to our software, optimizing asset performance in many ways. It ensures asset health through analyzing KPIs, minimizes degradation to extend asset life, and can integrate emissions reduction as a core objective to lower environmental impact.
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Bina Ansari

EV Solutions

To compete in the long-term, the legal team and I support sustainable risk management through efficient risk allocation across our supply chain, internal delivery teams and with our customers.
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Peter Webb

Legal

Sustainability Synergies

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United Nations Global Compact

Aligning with the UN SDGs and participating in UNGC accelerators

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UN SDGs

We support the UN Sustainable Development Goals (SDGs) through development of SDG ambition strategies

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S&P Global Sustainable1

Annual participation in S&P Global Corporate Sustainability Assessment

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Science Based Targets Initiative

Validation of Energy Vault’s near-term emissions reduction targets

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TCFD Reporting

Disclosed in alignment with Task Force on Climate-related Financial Disclosures (TCFD) recommendations

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Global Reporting Initiative

Reporting in accordance with GRI Standards on an annual basis

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Greenly LCA Software

Collaboration to build customized, flexible B-VAULT™ life cycle assessment (LCA) tool

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Nasdaq Metrio

Platform utilized for company ESG data collection & carbon accounting

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ISS ESG Prime Status

Prime status for ambitious performance above sector thresholds (as of 10/16/23)

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Sphera LCA Software

Collaboration for G-VAULT™ life cycle assessment (LCA) with material use alternatives

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Certifications & Standards

Policies, Statements, & Commitments

Interested in Learning More About Sustainability at Energy Vault?

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