Why energy and utility companies need to act now and help save the planet.
The race to a sustainable future is not one we can afford to lose
Nearly three-quarters of global greenhouse emissions are caused by energy uses, adding a lot of responsibility to the energy and utilities industry towards reducing emissions. Given the state of the environment, this situation is not tenable, and the sector must urgently implement affordable, reliable sources of clean energy while decarbonizing its value chain. The challenge is huge but the advantages of meeting it are many – not least of which is saving our planet.
In the latest report from the Capgemini Research Institute – Powering sustainability: Why energy and utility companies need to act now and help save the planet – we surveyed 600 executives and interviewed 10 industry experts to understand their approach towards sustainability, its benefits, challenges, and leading practices. We wanted to understand how organizations that are driving the sustainability agenda are reaping the rewards, where they are falling behind, and what they can do to pick up the pace.
We found that many organizations are already realizing benefits from sustainability, and increasingly viewing it as an opportunity. In fact, 64% have increased their revenues thanks to sustainable operations. That said, a worryingly large contingent is falling behind – for instance, a mere 6% of these organizations are on track to meet Paris Agreement goals.
Organizations need to start preparing for a sustainable tomorrow – today. They need to reimagine their business models, cultivate a new business mindset, scale their social and economic sustainability efforts and implement scaled technology solutions and initiatives all from a sustainability perspective that is bolstered by a circular economy approach and low-emissions solutions for customers.