Energy Vault Holdings, Inc., a pioneer in large-scale sustainable energy storage, has released its 2024 Sustainability Report. This comprehensive document showcases the company’s commitment to transparency and its progress on key non-financial Environmental, Social, and Governance (ESG) metrics.
Now in its third edition, the Corporate Sustainability Report presents Energy Vault’s 2024 Double Materiality Assessment and outlines updates on sustainability efforts tied to its projects and collaborations. It also reflects the company’s advancements in 2023 in launching new sustainability frameworks, systems, standards, and performance metrics. Looking ahead, the report previews Energy Vault’s intention to revise and establish long-term science-based targets (SBTs) in coordination with the Science Based Targets Initiative (SBTi).
Energy Vault’s deep-rooted commitment to integrating sustainability throughout its business operations is further validated by its 2024 S&P Global Ratings ESG score, which rose by 37% from 2023. This placed the company in the 98th percentile within its industry category and established it as the top-rated energy storage company in the Industrial Equipment & Components (IEQ) sector. Energy Vault was also highlighted in S&P Global’s Sustainability Yearbook, earning the “Industry Mover” recognition for achieving the highest year-on-year improvement.
With a sustainability mission rooted in enabling a renewable future, Energy Vault continues to incorporate sustainable innovation and responsible business practices aimed at generating positive environmental outcomes. The company uses a Triple Bottom Line strategy in developing its product lifecycle plans, carefully evaluating financial, social, and environmental impacts to maximize the overall value of its energy storage technologies.
Robert Piconi, Chairman and CEO of Energy Vault, emphasized that as climate challenges intensify, renewable energy is key to change. He noted rising energy demand driven by AI and industrial growth, and highlighted Energy Vault’s flexible technology portfolio—including hybrid solutions—to meet this demand sustainably. He celebrated the company’s top ESG ranking by S&P Global as a testament to its sustainability leadership and global impact.
Michael Van Parys, Director of Sustainability at Energy Vault, stated that sustainability is at the core of the company’s operations. He credited the leadership and dedicated workforce for driving progress and reaffirmed Energy Vault’s commitment to advancing renewable energy and pushing boundaries in sustainable energy storage.
