Energy Management’s high return on investment makes it an ideal cornerstone of a sustainability program
If you are looking to introduce a sustainability program in your business, a first step should be a strategy that prioritizes initiatives and establishes goals. Next, you will need to get buy in and funding from executives to make your initiatives happen. Sustainability programs often have to compete for precious capital with long standing operational projects.
So, how can you get the capital you need for sustainability initiatives?
Here is one way to do it.
Sustainability and energy management are synergistic programs, and the strong return on investment of energy management initiatives can be used as a foundation to fund other sustainability efforts that may have less measurable payback metrics.
- Create a business case for each project, and prioritize by return on investment
- Bundle projects. For example, combine a lighting retrofit project that reduces energy consumption by 8% with a program that purchases renewable energy (at a slightly higher rate), that results in an overall reduction of 5%
- Give priority to energy management projects, which usually have the highest returns. Continue to build credibility and acceptance of the program internally and gradually introduce projects with a less tangible return on investment after your sustainability program has been established within the company.
Examples of energy management and sustainability best practices
The following examples are energy management and procurement best practices:
Savings generated from the above best practices can be used to help fund sustainability initiatives such as:
Interested in learning more? Read the full white paper to find out how you can leverage an energy management and sustainability strategy to create brand loyalty, increase margins, mitigate risk, reduce impact on the environment, and maintain competitiveness.
Do you have other ideas on how to secure funding for corporate sustainability initiatives? Please post in the comments!