The Reasons Why Businesses Need An Energy Strategy
For many businesses, energy has fast become something of a strategic issue. This is because they have come to realize how important energy is as both a commodity and a brand opportunity. For those businesses that are more forward thinking in their outlook, pursuing a zero carbon approach and identifying challenges relating to energy are all things that are present in their energy strategy. Implementing a strong and effective energy strategy is beneficial for businesses in a number of ways. Some of these are listed below in more detail.
They are good for staff engagement and retention
With more and more millennials entering the workforce, it is important that businesses do things that these individuals value in order to attract them in the first place and to keep them working for them. Any business that is looking to hire millennials needs to adopt a robust energy strategy that puts sustainability at the forefront of what it does. An effective way of doing this is by engaging with workers in order to get their ideas and insight on the issues that they value most when it comes to energy. Whilst implementing an energy strategy can take time, businesses can show their workers that they are serious about sustainability in the meantime by doing small things, such as installing LED lighting and / or encouraging workers to turn off all machinery at the end of the day.
They save on energy costs
The consumption of energy always has and always will remain a big cost for businesses. However, by implementing an effective energy strategy, businesses can bring their costs down by as much as 30 percent over the course of three years. To see how businesses can save energy and money during the summer, visit the Utility Bidder website. As part of this process, businesses should review the current energy contract that they are on, as it may be the case that they can benefit from switching over to another type of tariff.
They help with compliance
The UK government was one of the very first to put into place laws that commit to end global warming. In order to be able to achieve this, it needs all emissions of greenhouse gasses to reach net zero by the year 2050. In the UK, businesses account for as much as 18 percent of all carbon dioxide that is produced. This means that without their participation, it is impossible for the government to reach its target. Ahead of the year 2050, more and more strict regulation will be coming into place for businesses, such as mandatory Display Energy Certificates (DECs). If they fail to meet these rules then they can potentially incur huge fitness. Having a sound and robust energy strategy can keep businesses on the right side of these regulations and prevent being fined.
The Reasons Why Businesses Need An Energy Strategy is because renewable energy sources are the future and they are good for brand reputation.