Sustainability is good for business. How can Asian companies do more?

More than 150 registered events are currently running in New York City as part of Climate Week NYC, championing the sustainability cause and encouraging everyone to join the global conversation on climate change and take action.

The answer, surprisingly, is a resounding “yes”. In fact, 2019 may just be a watershed year for corporate adoption of sustainability initiatives and renewable energy. How can businesses in Asia draw on the lessons offered by the research report and embrace climate change action without negatively impacting their bottom lines?

As these benefits are promoted more intentionally, with measurable results, project sponsors may find that they have more success getting initiatives funded. In the Schneider Electric study, 90 per cent of respondents who are successful at building business cases and getting funding say that energy and sustainability data is shared across all departments in their companies.

The Schneider Electric research shows that companies with such public commitments are more successful at securing funds and building business cases for their projects. They are also more likely to adopt emerging technologies such as batteries or fuel cells, contributing to greater success rates. In addition, the use of data-driven technology can help companies better understand their real-time, interval energy consumption and demand. This may provide the visibility required to curtail use when prices spike. Such data may also enable corporations to negotiate energy supply contracts that are more appropriate for their unique consumption and demand patterns.

Our company’s East Asia and Japan regional headquarters in Singapore, for example, will become a carbon neutral building by the middle of next year, made possible because of the use of smart building technologies, installation of On-site Energy Storage and strategic energy purchasing. In addition, the factory implements digital tools like planning and scheduling management that provide an end-to-end view of demand, aligns all partners, and engages all workers.

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