Sustainability: A ￡1.6 Trillion Goldmine - But Not For All?
ClearVUE.Business
The sustainability partner of choice for businesses who care about the world of tomorrow.
Welcome to our latest newsletter, where we delve into the potential of sustainable energy practices and the challenges that lie ahead. In this edition, we explore a groundbreaking report by the World Economic Forum highlighting a staggering opportunity for businesses globally. We also address the work needed to seize this opportunity fully and navigate evolving sustainability reporting standards.??
The Opportunity?
A recent report from the World Economic Forum reveals a compelling opportunity for businesses to save over ￡1.6 trillion by 2030 through energy efficiency measures. This presents a strategic imperative for businesses, aligning with governmental demands for stronger energy reporting.?
The report emphasises the shift needed in perceiving energy not merely as a cost but as a strategic resource. Practical actions outlined include leveraging artificial intelligence, industrial clustering, and retrofitting buildings. The document also underscores the feasibility of significant energy demand reduction through existing technologies, paving the way for sustainable and economically sound practices.?
The Work to Be Done?
Realising the multibillion energy efficiency opportunity requires proactive internal actions within companies. For EU businesses, new CSRD guidelines offer detailed criteria on sustainability, preparing them for upcoming reporting requirements. Meanwhile, UK businesses face a strong emphasis on improving building energy efficiency. To this end, Energy Performance Certificates (EPCs) play a crucial role, along with harnessing the synergy between energy managers and software solutions.?
New CSRD Reporting Guidelines?
The European Financial Reporting Advisory Group (EFRAG) has released three pivotal documents to aid companies in disclosing their impact, namely on materiality assessment, value chain aspects and ESRS data points.?
How can you prepare fully compliant reports in minutes??
Read more: CSRD: What You Need to Know?
Enhancing Building Energy Efficiency with EPCs?
The importance of Energy Performance Certificates (EPCs) in property markets is rising, with regulations tightening and increasing awareness of energy efficiency benefits.?
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As of April 2023, the minimum EPC rating for commercial buildings in England and Wales was raised to ‘E.’ Anticipated changes in 2025 might raise the minimum rating to ‘B’ by 2030. Failure to provide a valid EPC could result in fines reaching up to ￡5,000.?
Approximately 70% of UK estate agents report challenges in selling properties with poor energy efficiency, and 79% anticipate increased demand for properties with an EPC rating of C or above.?
Choosing Between Energy Manager or Software Solutions?
Businesses often inquire whether they should have an energy management software over an in-house energy manager.?
While an energy manager provides strategic leadership and expertise in implementing energy conservation initiatives, software offers comprehensive data analysis capabilities, automation, and customisable dashboards for identifying energy savings.?
We believe that a hybrid approach, combining both an energy manager and software solutions, maximises results. For example, the Morgan Motor Company utilised our innovative energy management software, ClearVUE.Zero, alongside an energy manager. They identified machinery that had been powered on needlessly early in their daily production processes for years, resulting in significant energy consumption savings.?
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