This post first appeared on Risk Management Magazine. Read the original article.
Businesses in the United States are getting serious about using less energy, acquiring their energy from renewable resources and installing onsite generators to address potential risks, according to the Deloitte study Energy Management: Sustainability and Progress.
While the primary motivation for businesses to launch an energy resource management program is to cut costs, eight in 10 now also view it as an opportunity to reduce risk, increase resilience and create new value. What’s more, 61% said their customers are demanding that a percentage of the company’s electricity be procured from renewable energy sources and almost two-thirds of companies said they actively publicize this data.
Consistent with surveys from previous years, Deloitte found 80% of businesses believe that their energy management practices have become more sophisticated. Half of respondents reported having a documented corporate energy vision or mission that aligns with the overall corporate vision, 45% said energy management is a key component of their corporate strategy, and 40% said new and innovative solutions are encouraged, experimented with and deployed.