Sustainability now considered economic and environmental

Posted 7 August 2019 by Chris Hargreaves

New Zealand has set a target under the Paris Agreement to reduce its greenhouse gas emissions by 30% below 2005 levels by 2030, and to adopt increasingly more ambitious targets in the future.

Per capita, New Zealand’s emissions are one of the highest in the world with an output of <1% of the total world’s emissions.

Business New Zealand recently released a report which concluded that “opportunities to improve our performance in productivity and renewable penetration lie in every part of the energy supply chain. While productivity and renewables are not necessarily mutually exclusive, we need to consider the best policy balance. Our country is richly endowed with resources so should our focus be primarily on economic growth with a reliance on carbon prices to guide renewable penetration, or do we need stronger policy support for low-carbon economic output? With an economy heavily driven by trade, the cost of our choices has direct consequences for our international competitiveness. And, since our future is uncertain, how do we remain responsive and resilient to changes in the world around us?”

There is no doubt that the current Government’s policy strategy is being geared to meet the targets under the Paris Climate Accord.

The Insights Behind Sustainable Business Growth

Centrica recently published the following survey of businesses in 10 countries (UK, Ireland, Germany, Italy, France, Hungary, Belgium, Netherlands, USA and Mexico) and across 7 verticals (manufacturing, retail/ wholesale trade, healthcare/ medical, education/schools/universities, construction/ trades/ property development, travel/tourism/hospitality and property/real estate).

The survey identified some interesting trends:

Customers are driving change

Perceived risks are growing

Energy is an increasingly vital part of an overall business strategy

Yet only 1 in 8 businesses are doing it successfully

They concluded that in today’s fast-changing world, businesses need to find an innovative way to balance their financial performance and environmental policies using the following key focus areas.

What does this mean for your business?

Becoming a supportable business isn’t something that can be achieved overnight, and the journey can be challenging. Many successful businesses are complementing their internal expertise by engaging a third party, like Total Utilities, to help them understand the energy market and associated technologies, build business cases and engage stakeholders.

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