COMMERCIAL CONSUMERS ZERO IN ON ENERGY EFFICIENCY
In March 2021, the International Energy Agency published a report entitled, How Energy Efficiency Will Power Net Zero Climate Goals, suggesting that “energy efficiency is the ‘first fuel’ for achieving high ambition climate goals.” Our survey results reaffirm that assertion. According to this year’s survey responses, it is the primary means of decarbonization for commercial consumers.
Which of the following strategies are your company adopting to decarbonize operations?
A substantial 61% of commercial consumers identified energy efficiency and consumption reduction initiatives as their primary means of decarbonization, significantly outpacing other strategies which included streamlining and process re-design (43%), and sustainability initiatives (42%).
This focus on efficiency, process, and sustainability allows companies to reduce emissions and costs simultaneously, creating the potential for competitive advantage in the marketplace.
Regionally, energy efficiency was the top choice for decarbonization strategies in almost every surveyed region, except for Latin America where process re-design ranked first.
of commercial consumers identified energy efficiency and consumption reduction initiatives as their primary means of decarbonization
streamlining and process re-design
sustainability initiatives
Regional: Which of the following strategies are your company adopting to decarbonize operations?
Consumers also referenced energy efficiency measures when asked how they would ensure access to affordable energy. 52% of consumers chose efficiency solutions while 41% chose power management systems, arguably a subset of efficiency solutions.
Energy efficiency remains a cornerstone strategy for corporate decarbonization and cost management. Undoubtedly, the transition to the use of low-carbon and zero-carbon fuels is complex and expensive, which is perhaps why the highest adoption of cleaner fuel alternatives is only 43% in Latin American and 41% in the U.K. Energy efficiency is affordable by comparison. The imperative for decarbonization is clear, yet capital constraints persist.
We are increasingly seeing commercial consumers lean towards energy efficiency as the main way of achieving quick wins in the energy transition process, and it's gained a reputation as a pivotal part of the process for its ability to quickly reduce carbon footprints and operational costs while boosting sustainability.
While embracing energy efficiency measures will support key environmental aims, for companies already hitting those marks there's a natural question – what's next? For some industries, utilizing low-carbon fuel, encouraging electric vehicle use, or digging deep into Scope 3 emissions and reducing those might be the next step, building on base energy efficiency measures in a more sustainable way and continuing to drive the process forward.
Peter Snaith, U.K. Sector Leader – Manufacturing
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