The value of energy efficiency for your business
When you’re busy running your business, calculating kilowatts is probably the last thing on your mind. Yet the bottom line is this: the bottom line matters. Keep your energy costs in control and you’ll free up cash to flow in other areas of your business.
Deciding to be energy efficient does more than just save money. It gets you and your team focused on new ways of working in your business, and you’ll find it has other flow-on effects – like greater productivity, smarter ways of working, reduced maintenance costs and better corporate reputation.
Cost and environmental savings
There are some big wins to be made for your business from small changes. For example, when using air-conditioning, a simple reduction of one degree in heating in winter can cut your bill by 8%; and every one-degree adjustment during summer can see savings of up to 10%.1 Adjusting your computer monitor brightness from 100% to 70% can also save you 20% in energy consumption.2 It pays to make adjustments!
Response to developing consumer demand
In addition to the cost savings, operating sustainably is increasingly becoming a priority for Queensland businesses. The Advancing Business Sustainability report by Business Chamber Queensland found that on average, Queensland businesses are making sustainability related decisions beyond their industry’s minimum compliance requirements, due to external pressures such as consumer demand and a push towards sustainable supply chains.3 Supply chain will become more and more important, particularly when it comes to procurement opportunities for your business.
Meeting current and potential future workforce demand through a sustainable employee value proposition
Not only are consumers looking for more sustainable partners to work with, but employees are looking for sustainable workplaces. Business will need to attract and retain talent while improving employee engagement regarding sustainability. There is mounting pressures for businesses to walk the talk and lead by example. An employee value proposition (EVP) is the unique set of benefits that an employee receives in return for the skills, capabilities, and experience they bring to a company. Assess what skills you already have in your workforce and then build sustainability considerations into your hiring process.
Remaining competitive for procurement opportunities, especially for the climate-positive 2032 Olympics
Sustainable Procurement is a process whereby organisations meet their needs for goods, services, works and utilities in a way that achieves value for money on a whole of life basis. Benefits are not only generated for the organisation, but also to society and the economy, whilst minimising damage to the environment.
Ensuring your business is operating efficiently and sustainably is not only important for the consumer but for future policy and procurement drivers. The Queensland government has set ambitious goals to procure from Queensland businesses for the 2032 Olympic and Paralympic Games. Priority procurement activities will aim to contribute to the Queensland Government’s target to reduce greenhouse gas emissions by at least 30% from the 2005 baseline levels by 2030. To supply to Brisbane 2032, your business must act now to improve efficiency, reduce emissions and become more sustainable, and in so doing increase your profitability, capitalise on future opportunities, and become more resilient. 4
Meeting supply chain demand
Increased focus on sustainability means companies look at their supply chains sustainability including carbon emissions. Overall, emissions from a company’s supply chain often far exceeds emissions from its own operations. Companies that are looking for opportunities to reduce their greenhouse gas emissions will favour suppliers who are actively working to reduce their own energy usage and greenhouse gas emissions.
Capturing investment opportunities
Investments in businesses that are more sustainable is growing. Governments, from local to State to Federal, often have grants targeted at improving business sustainability. Sustainable businesses also attract venture capital and investments.
1 Ergon, Energy Sense Tips www.ergon.com.au/retail/residential/home-energy-tips/appliances/air-conditioners
2 Harvard Sustainability, Reduce monitor brightness to reduce energy, https://green.harvard.edu/tools-resources/green-tip/reduce-monitor-brightness-reduce-energy
3 Business Chamber Queensland Advancing Business Sustainability, https://businesschamberqld.com.au/business-voice/advancing-business-sustainability/
4 2Q32 Procurement Strategy, https://www.forgov.qld.gov.au/__data/assets/pdf_file/0011/404030/Q2032-procurement-strategy.pdf