The energy industry is at the forefront of sustainability consciousness and central to the global economy. In 2017, global energy investment totalled US$1.8 trillion according to the 2018 World Energy Investment report. Across several sectors, corporations, their stakeholders, and consumers alike are recognizing the importance of reducing energy consumption and increasing energy efficiency.
“Energy companies are increasingly stimulated to deal with the growing societal challenges — like scarcity of resources, climate change, pollution, employment, etc. Citizens, environmental and government organizations define energy company environmental and social responsibility as the duty. That means that for energy companies CSR [Corporate Social Responsibility] is a requirement. ” – Stjepcevic, J., Siksnelyte, I. (2017), “Corporate Social Responsibility in Energy Sector”
For companies that provide energy services, the expectation is that they will lead the charge into a sustainable future. According to the 2018 World Energy Issues Monitor, www.worldenergy.org/wp-content/uploads/2018/05/Issues-Monitor-2018-HQ-Final.pdf, the energy sector will have to tackle issues such as digitalization, electric storage, market design, decentralized systems, and the push for renewable energy. All these issues will have to be addressed while continuing to adhere to national and international regulations, health & safety (H&S) standards, and regular company operations.
How can companies within the energy industry best manage their Sustainability objectives and reporting to shareholders, governing bodies, and their clients?
Managing an energy company’s social, economic and environmental impact requires an understanding of how to synchronize existing company programs, policies and procedures. Staarsoft™ software provides organizations with the “how-to” guidance needed to plan, implement and manage a comprehensive sustainability program allowing companies within the energy and other sectors to improve sustainability management by identifying gaps and providing actions to better existing operational policies and programs.
See how Staarsoft™ helped Bruce Power, a nuclear energy company that provides 30% of Ontario’s electricity, with their Sustainability goals: https://tavaresgroupconsulting.com/case-studies/bruce-power-csr-environment-and-indigenous-relations-program-strategy/
With innovations in the areas of energy efficiency, corporate H&S, and environmental impact reduction rapidly occurring thanks to the advances in Information and Communication Technology (ICT), a cloud-based system such as Staarsoft™ is most practical for optimising various corporations’ management systems to incorporate sustainability. According to the article “ICT Development and Sustainable Energy Consumption: A Perspective of Energy Productivity”, ICT is closely related to the future of global energy consumption and is able to control the rising energy demand by improving energy-use efficiency or energy productivity (Zheming Yan, Rui Shi & Zhiming Yang, 2018).
More energy companies are integrating ICT into their processes and this requires a management solution compatible with these technologies. The added benefit of Staarsoft™ is its roll-up capability that allows organisations to see the sustainability “big picture”. As it is compatible with most energy analytics software, Staarsoft™ is the ideal CSR & Sustainability management solution.
The future of the energy industry will be sustainable, and Staarsoft™ software will guide companies to achieve this.
We offer customizable and scalable solutions to assist organisations in their pursuit of corporate sustainability and sustainable development. Our Corporate Social Responsibility (CSR) services include gap analysis/benchmark assessments, sustainability action planning and implementation software, corporate responsibility and sustainability reporting, and assurance services. If you would like to receive more information on how we can help your organisation meet its CSR goals, and a free booklet about our unique approach, contact us!