Sustainability in business, what it means and how to achieve it
Decarbonization, a key element in a company’s transition to sustainability, opens up opportunities at the same time as it forces changes to long-established practices
Published on Monday, 10 August 2020
Decarbonization, a fundamental step on a company’s path to sustainability, is both a challenge and an opportunity.
It is a challenge because it can be hard, often involving major changes to the way things have always been done. But it is also an opportunity to reap savings and open up new sources of revenue as new processes are put into place that will future-proof the company, standing it in good stead for decades to come.
Sustainability means value, and can be summed up as the ability to meet the needs we have now without damaging the ability of future generations to meet their needs. That idea rests on three pillars. These involve the business itself and its ability to work profitably; that it can do so without harming the environment; and that it does not use unethical social and labor practices.
Sustainability means value because the concept has become a focus as the world grapples with a climate emergency driven by rising demand from a growing global middle class putting pressure on key resources. At the same time, the degradation of the oceans and the air threatens the planet’s self-healing mechanisms. Meanwhile, the Paris Agreement of 2015 calls for global warming to be limited to 2 degrees above pre-industrial levels by 2050, a requirement that implies a significant effort on the part of all sections of the economy.
At Enel X we have placed supplying solutions to those issues at the center of our business strategy. We support customers in their efforts to electrify the energy they use and transition away from fossil fuels. That effort extends to transportation, buildings and lighting and it adds up to sustainability.
The climate emergency underlines the urgency of reducing carbon output to stem the rising temperatures that jeopardize our way of life and our children’s prospects. Improvements in energy use, the electrification of heat, even using hydrogen made with low-cost renewable energy as a feedstock in certain processes, are all among measures that will move industry closer to the goal of zero carbon emissions and sustainability, according to management consultancy McKinsey & Co.
All that argues for companies taking a long, hard look at the way they use energy and how they interact with national electricity grids. At Enel X our job is to use digital technology to enable clients to seize the opportunities that open up as they overhaul their energy use and look for ways to unlock cost savings and boost revenue. We are an accelerator, a catalyst, in the process of electrification and decarbonization of our clients.
Knowledge is power. We help our clients get that power with software that monitors how much energy they are consuming and where it is being used. Other parts of our software suite ensure that bills are properly dealt with and errors caught, produce sustainability reports and other metrics or analyze where improvements in energy use can be made. Our consulting service can offer advice on ways to decarbonize and enhance sustainability, and with it, value.
At Enel X we are global in our reach and in our outlook, combining market-leading expertise and experience with cutting-edge technologies. We put it all at the service of our clients as a strategic partner committed to seeing them through the energy transition.