Economy

Our journey so far

Our economic contribution to society comes primarily through delivering safe and reliable energy. We make sure energy reaches homes and businesses safely, reliably and efficiently. But our contribution as a responsible, purpose-led business also comes as an employer, a tax contributor, a business partner, a community partner and a member of the B Team movement. 

Our economic contribution 

We have set out our commitments and ambitions for our economic contribution to society in our Responsible Business Charter. 

Our commitments 

• Maintain reinvestment in our infrastructure and show the social benefits of our capital delivery programmes 

• Continue to invest in developing technologies and innovations that benefit our customers and society 

• Work across our supply chains to ensure that, together, we reflect the diversity of the communities we serve 

• Continue to influence our supply chain to operate as responsible businesses 

• Meet or exceed the B Team Responsible Tax Principles 

Our ambitions 

• Build partnerships with small and local businesses, and responsible suppliers 

• Help the economy and supply chain recover from the COVID-19 crisis 

Working in partnership 

We help national and regional governments formulate and deliver their energy policies and commitments. Our approach to regulatory consultation is to seek a framework that puts consumers at the heart of our price controls and rate plans, while enabling the clean energy transition. Evolving that partnership to help enable the clean energy transition and slow the pace of climate change before it can be reversed will be key in protecting future economic growth, and safety and wellbeing in society. 

Supporting communities 

Our geographic footprint means that our economic contribution is felt in lower-income communities, which can truly benefit from the ripple effect of our local presence. These range from rural communities in New England and New York to the UK, where most of our economic contributions are made outside London. Our tax contribution helps to fund services and we are committed to a coherent and transparent tax policy and recognise our economic role in society in doing this. 

Working with our suppliers

We work closely with our suppliers and recognise our role to treat them fairly and pay them promptly. Our suppliers are our partners in delivering our business commitments. We work across our supply chains to ensure that, together, we reflect the diversity of the communities we serve and respond to the economic needs of those communities. We also engage with relevant industry initiatives to promote inclusion and diversity across our sector. We require all businesses to share our commitment to respecting, protecting and promoting human rights. This includes alignment to the principles of the United Nations Global Compact, the International Labour Organization (ILO) minimum standards, the Ethical Trading Initiative (ETI) Base Code, the UK Modern Slavery Act 2015, the US Trafficking and Violence Protection Act 2000 and, for our UK suppliers, the requirements of the Living Wage Foundation.

Our contribution to UN Sustainable Development Goals

We support the United Nations Sustainable Development Goals (SDGs), which are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity.

Learn about what we’re doing to support economies

Our Net Zero Energy Workforce Report explores the employment opportunities and skills required to help the UK's energy sector reach net zero by 2050. National Grid Partners is our venture capital and innovation business based in Silicon Valley that's helping to bring the energy ideas of the future to life.

Focus areas where we can make an impact

We have identified the other key areas where we can really make a difference by ensuring responsibility is woven through everything we do.