16 Oct
ESG and Energy: Integrating Sustainability into Your Strategy
Posted on Oct 16, 2024
by chris
Integrating sustainable strategies into your business is something companies across the UK are placing greater emphasis on in recent years. The emphasis on Environmental, Social, and Governance (ESG) initiatives is more pronounced than ever. For businesses, understanding the nexus of ESG and energy is vital for a variety of reasons. These include building trust amongst stakeholders and consumers, and the environmental benefits.
In this blog post, we will be delving into the world of ESG and energy, by discussing ways your business can integrate sustainability and become more energy efficient in the process.
Understanding ESG
ESG is a set of standards that measure your business’ impact on society and the planet. Below we will break down the three central components of ESG.
Environmental – this refers to all factors that may have an impact on the environment. Most notably, energy use, waste, and pollution. Your EPC rating will be taken into account here.
Social – This is where your company’s social impact will come into play. How you treat your employees and how you contribute to local communities will be taken into account when evaluating your business under ESG criteria.
Governance – This refers to how a company is run, factors like the transparency of a company and how the business holds accountability are considered under governance.
Why ESG is important for businesses
ESG principles have become fundamental criteria for assessing a business’ sustainability and overall success. ESG is not just about complying with regulations, businesses that have good ESG practices gain a competitive edge too.
Due to consumer demand for transparency and socially conscious investors, ESG has become vital for companies across the UK. ESG can effectively enhance a company’s reputation, and increase the appeal for potential investors.
Another reason highlighting the importance of ESG is that it can help identify opportunities for growth and innovation within a company. For example, having the tools to measure your companies energy performance can help your company become more sustainable with energy usage, which could boost your EPC rating.
How to integrate sustainability practices into your strategy
The first step in making a sustainable change by integrating ESG into your strategy is by understanding where your company currently is with energy consumption. Conducting an energy audit will help you identify areas for improvement and where your company can improve efficiency and sustainability. An energy audit involves analysing energy usage, assessing equipment and evaluating operational practices.
If you’re looking into integrating sustainable strategies into your business, why not start by exploring our 100% UK Wind Power? Please contact our team to learn more.
As the government continues to consider means to curb the increasing energy prices, customers around the country will be reviewing solutions for managing their energy usage and keeping bills low. Many small businesses, without support, face the risk of closure as they struggle to cope with their rising bills. As businesses are not protected by the price cap introduced by Ofgem, there is little support or solution from the government. Considering the solutions for reducing energy costs, is now the time for businesses to consider renewable energy?
Reducing dependence on fossil fuels
Witnessing the invasion of Ukraine from Russia at the beginning of the year, we may not have initially predicted the impact this was to have on the price of fossil fuels. Within just a matter of days, however, the cost of oil rose considerably. A wake-up call to every nation, our reliance on fossil fuels puts us at risk. With the market now suffering, as a result, our dependence on fossil fuels must be reconsidered. Not only to avoid the volatility of this market but to move towards a greener energy market, whereby we make the transition to renewable energy. This would be both beneficial for our economy and our goals for achieving net zero emissions by 2050.
Is switching to renewable energy possible?
As the UK has set out policies to decarbonise all sectors of the UK economy and to achieve a net zero target by 2050, electricity must become renewable. According to recent statistics from the year 2020, renewable energy sources made up more than 43% of the UK’s total electricity generation. So, although we are on the right track, work is still required. The positive trend does indicate that switching to renewables completely is 100% possible.
The benefits of switching to renewable energy for businesses
For businesses, making the switch to renewable energy offers the potential option for reducing energy costs and can even improve the reputation of the brand. The benefits of making this switch include:
Stable energy prices
Will reduce your company’s emissions
Improves your brand’s reputation with consumers, particularly those looking to commit to companies that are conscious of the environment
Exemption from the Climate Change Levy is a tax designed by the government to reduce carbon emissions among businesses.
For those businesses that can not generate their own renewable energy (particularly smaller businesses that do not have the funding), switching to a green energy tariff is the second best option.
It is important to do your research and recognise when a company is truly offering 100% renewable energy. Plus, in the current economic climate, it makes sense to switch to a green energy deal that will actually save you money.
At D-ENERGi, all our electricity supplied from D-ENERGi Trading is sourced from UK based wind farms. Supplying 100% UK wind power. To get a quote from us today, simply get in touch.
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Is zero carbon electricity the future? And what will this look like?
With the current energy crisis causing issues for households and businesses up and down the country, many are looking at alternative sources of energy as a solution to this global problem.
With international governments looking to achieve net zero carbon emissions in the next few decades, zero carbon electricity is a genuine option available to utilise.
Green sources of electricity
By focusing on green sources of electricity, such as solar and wind power, we can reduce carbon emissions while also helping to protect our environment. This is why many companies are now investing in zero carbon electricity solutions.
Zero carbon electricity can be generated through a combination of renewable energy sources such as solar panels, wind turbines, biomass, geothermal energy, and hydroelectric power. This will help to reduce our reliance on non-renewable sources of electricity such as coal and oil.
Zero carbon electricity can also be generated through innovative methods such as electric vehicles charging stations, which can store excess electricity produced during the day in a battery system, ready for use when needed.
How can businesses introduce carbon free electricity ?
Businesses can look to introduce zero carbon energy solutions into their operations. This could involve installing solar panels or wind turbines, or investing in renewable energy sources such as biomass, geothermal energy and hydroelectric power.
Additionally, businesses should take a proactive approach to reducing their total electricity consumption by implementing measures such as using more efficient lighting , improving insulation and adopting other energy-saving practices.
By taking the right steps, businesses can help reduce their carbon emissions while also creating new jobs and boosting their bottom line. Zero carbon electricity is a viable solution that should be considered by any business looking to become more sustainable.
D-ENERGi Trading
At D-ENERGi we offer a unique and innovative way for businesses to purchase zero carbon electricity. All electricity supplied from D-ENERGi Trading is sourced from UK wind farms. This makes our offering a unique one within the sector. Our graph, which you can see here, shows our offering compared with other major UK energy suppliers in the UK. This enables businesses to reduce their impact on the environment and save money in the long run.
To find out more about renewable energy and zero carbon options speak with our friendly team of experts today.
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