The Four Success Factors of Sustainability Transformation

Sustainability isn't a catchy phrase for businesses anymore - it's a driving force.? Forward-thinking companies are embracing transformation to lead the charge towards a brighter, more sustainable future.

Last year, Oxford Economics partnered with Fujitsu to conduct a survey of 1,800 decision-makers across nine countries. The goal was to assess progress in sustainability initiatives, particularly how digital advancements are influencing these goals. While the potential of sustainability for businesses is undeniable, the level of progress varies greatly.??

Our survey revealed that 43% of organizations haven't begun their sustainability journey, and roughly 20% are just taking their first steps.? Less than 30% have seen concrete results from their efforts. This highlights the significant work many companies have ahead to make meaningful change.

There's good news, though! Our study identified four key factors that distinguish sustainability leaders and fuel successful transformations. These are all entirely actionable and practical for utilities providers to begin implementing in the short term.

Leading with a purpose rooted in sustainability

Sustainability leaders understand that simply talking about environmental concerns isn't enough. They are committed to consistently communicating their sustainability story to stakeholders, making it clear their purpose extends beyond profit.? Their focus is on creating a positive impact on the environment, society, and their bottom line.

But what truly sets them apart is their unwavering dedication to reshaping their core business around a sustainability-driven purpose. This isn't about superficial efforts to appear "green"; it's about fundamentally changing the organization's DNA.

For companies built on traditional energy sources, a sustainability leader in this industry would make significant investments in renewable energy and electric vehicles, not just because of market trends but to actively shape those trends themselves.

Building empathy with customers and employees

Empathy is the cornerstone of a successful sustainability transformation. Leaders in this space understand its importance, recognizing that sustainability is a collective effort involving everyone, from customers to employees.

To foster this empathy, sustainability leaders prioritize equipping their employees with the skills needed for this journey. They invest in training and education to ensure their teams are prepared to drive meaningful change. Additionally, they champion diversity and inclusion, acknowledging that a variety of perspectives leads to more innovative and effective solutions.

Weaving sustainability into the business fabric

Sustainability shouldn't be a separate initiative; it should be an integral part of the business itself. Sustainability leaders seamlessly integrate it into their strategy, creating new opportunities that align with their mission.

Consider a traditional energy provider. A sustainability leader in this industry wouldn't just focus on delivering reliable power. They would prioritize renewable energy sources and invest in energy efficiency solutions. These changes benefit the environment and can create new revenue streams, such as offering smart home technology that helps customers manage their energy use.

Energy providers can now work directly with their customers to promote sustainability. This collaboration could involve:

• Smart meter installation programs empower customers to track their energy use in real-time, allowing them to identify areas for reduction.
• Partnership with local businesses to offer discounts on energy-efficient appliances and home upgrades.
• Educational campaigns focused on sustainable practices, such as responsible water usage or energy-saving tips during peak hours.

The synergy of digital and sustainability

Sustainability leaders leverage the power of digital tools to revolutionize how they deliver energy and manage resources. Energy providers are using advanced analytics and AI to predict energy demand fluctuations, which allows them to optimize power generation and distribution while minimizing waste and maximizing efficiency.?

Additionally, smart meters in customer homes can collect real-time data on energy usage, empowering both the utility company and the customer. For the utility company, this data can be used to:

• Identify areas where the grid needs improvement.
• Develop targeted programs to incentivize energy conservation during peak hours.
• Track individual energy consumption and advise areas for reduction.
• Drive informed customer decisions about their energy plan and potentially lower their bills.

The power of digital goes beyond internal improvements. Energy sector sustainability leaders are building digital ecosystems to foster collaboration and innovation. This involves partnering with technology companies to develop cutting-edge solutions for renewable energy integration and smart grid management.

By working together, the energy sector, technology companies, and consumers can create a more sustainable energy ecosystem for everyone.? This collaborative approach using digital tools can lead to a cleaner, more efficient energy future.

Fujitsu is already working with energy and utilities companies along this digital journey with

smart devices, efficient cloud-based tools, and seamless support services based on predictive

analytics. These technologies empower your people to serve customers from anywhere and drive

sustainable efficiencies as you maximize your resources.

About the author

As the Head of Industry at Fujitsu North America, I’m passionate about innovation’s power in helping companies reinvent their current business models around new technologies and capabilities. If you would like to discuss the strategies that will allow you to modernize your business around the new needs of your customers, please feel free to get in touch with me.?