SUSTAINABILITY SOLUTIONS Policy uncertainty
advances energy mix management to a top priority
Chris Maclean, CEO, True, powered by Open Energy
Market, explains why clarity and confidence in how we can
achieve Net Zero is essential following the government’s move to delay key green targets
straightforward approach to developing a compelling business case is to engage with carbon consultancies and seek out specialist support to accurately calculate ROI. These consultancies offer a strategic method
for businesses to evaluate their carbon footprint, pinpoint emission sources, and construct comprehensive approaches to decarbonisation. They provide precise data and insights which help make well- informed investments in Net Zero initiatives. There are many options
T
he government’s move to delay key green targets has caused a ripple of uncertainty
amongst businesses and investors in the UK. Clarity and confidence in the UK’s plan to achieve Net Zero is low, and commitment to providing solutions and initiatives that can get us there do not seem to be forthcoming from the government.
WANING SUPPORT Over the past few years, the government has offered businesses hugely valuable support, which has been instrumental in ensuring survival through the economic uncertainty caused by Brexit and the pandemic. However, there has been a continued tapering
of this support, and it’s clear that businesses can no longer solely rely on government interventions to address energy cost concerns. It is now more critical than ever for businesses to proactively manage their energy mix and costs. This will ensure the UK is able to continue to decarbonise and achieve its Net Zero goals. It’s a necessity for businesses to future-proof
themselves against a creaking energy system in the UK which comes under increasing pressure as energy demand increases.
FOSTERING GREEN INITIATIVES FROM WITHIN One of the primary reasons many businesses hesitate when investing in sustainability projects is the uncertainty over financial risks. To overcome this and ensure decision makers feel
confident when investing in sustainability projects, a strong business case is necessary. This involves
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auditing the business’ current energy use, to evaluate which green projects are right for your business and see where savings can be made. Casting a critical eye on its current energy mix
may reveal some immediate wins that could facilitate great strides to achieving Net Zero commitments. An example of this is Goodwin Metal Manufacturing, which partnered with True to help identify ways to reduce their cost and carbon emissions and optimise their operations. Within seven weeks, the True team had identified
new carbon reduction opportunities, while also discovering new cost reduction strategies. This meant Goodwin was able to take advantage of tax exemptions from electricity bills for five years without any up-front payments, resulting in savings of over £1.2 million. By evaluating the current energy usage of your
business with the support of specialist experts and data-driven insights, you may be able to make important cost savings which can fund sustainability projects.
DEMONSTRATING FINANCIAL RETURNS A strong business case will also demonstrate the financial viability of decarbonisation energy schemes, helping decision makers to see the potential returns and make informed choices that align with their long-term goals. The most effective and
ENERGY & SUSTAINABILITY SOLUTIONS - Winter 2023
available for procuring clean energy. Platforms such as True are able to utilise a business’ data and insights to model the financial and carbon impact of energy procurement decisions over timeframes. These insights will help decision makers understand whether
power purchase agreements, leasing, or owning their own renewable infrastructure is the best decision for them. This data driven approach empowers informed
decision making, aligning sustainability strategies with financial capabilities and appealing to increasingly eco-conscious investors.
MAKING THE CHANGE This simultaneous pursuit of greener and cheaper energy sources, enabled by energy procurement strategies, accurate financial modelling and Net Zero technologies, can be a powerful driver for long-term success, both in economic and environmental terms. To ensure the UK’s continued leadership in
sustainability growth, clear policies and commitments from the government are essential. However, promoting proactivity among businesses in managing their Net Zero initiatives and energy choices is equally crucial. The bottom line is that
Chris Maclean
businesses cannot rely on the UK government to provide all of the solutions to the climate crisis while supporting the sustainable growth of businesses. It’s up to us to make the change.
True
www.truezero.tech/
www.essmag.co.uk
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