Future King urges businesses to act on Climate Change!

Future King urges businesses to act on Climate Change!

Climate change has been in the news a lot so far in 2019, and now, Prince Charles, our future King, has stepped forward in an attempt to urge businesses to act on the challenges of climate change, and make the subject a business priority.

The Prince, in a speech on 23rd May in London, said that investors are increasingly requesting for companies to provide information in their financial filings on how sustainability performance affects organisations' strategy, business models, and financial stability. He also reiterated that there should be no excuse not to act on climate change. All businesses now have a small window of opportunity to consider the role they can and must play in building resilience by integrating climate risk management and long term sustainability into business practises.

The Prince’s speech, and current political discussions over climate change, shows the importance of the subject but it may also be considered as negative press and all doom and gloom for businesses. However, Elmhurst Energy Consultancy view it as a big opportunity for businesses.

For many years in the past, climate change and business sustainability was considered low priority and, as such, compliance with environmental auditing and reporting schemes was viewed as an unnecessary financial and administrative burden. However, it is now widely recognised that measuring and understanding energy use within businesses not only helps organisations to comply with regulations and show a positive reputation for environmental awareness to investors, but also, and arguably most crucially, it helps businesses to create substantial cost savings.

The Energy Savings Opportunity Scheme (ESOS) Phase 2, is currently underway. This four-yearly audit is a mandatory scheme that requires large UK companies to report on their energy use. An ESOS Lead Assessor is qualified to complete energy use data analysis and undertake a site based audit, to identify opportunities to make energy efficiency improvements.

Elmhurst Energy Consultancy highlight that businesses should consider ESOS as exactly what the name suggests – an opportunity to save energy and by saving energy, businesses save money. Our expert consultants and ESOS Lead Assessors encourage businesses to look to implement their zero or low cost recommendations as these may create cost savings without significant capital investment. Some examples of such measures include educating staff on environmental awareness, implementing procurement policies so that new equipment purchases are energy efficient, and installing LED lighting.

The ESOS Phase 2 deadline is 5th December 2019, so companies have just over 6 months to prove their compliance so quick action is key if companies are to start saving money quickly, and avoid paying heavy fines for non-compliance. For further information about how our ESOS Lead Assessors can help your organisation to achieve compliance and start to create cost savings, please visit our website at www.elmhurstenergyconsultancy.co.uk or call the team on 01455 883 259.

Article published 29th May 2019

Elmhurst Energy Services Ltd. 16, St Johns Business Park, Lutterworth, Leicestershire, LE17 4HB

© Elmhurst Energy Services Ltd 2022. All rights reserved. Elmhurst Energy Services Limited is registered in England, Company Number: 06087105