1. Businesses are struggling to balance the short and long-term.
“From an energy market perspective, I think it’s safe to say that the past 18 months have brought a variety of challenges to business – all of which it’s felt have needed immediate attention. Without a doubt, the energy crisis has challenged businesses and the industry in ways we couldn’t have anticipated.
Unfortunately, I think the short-term challenge of price has turned people’s attentions in a different direction and away from sustainability. Understandably, we’ve very much seen businesses focus on getting through this past winter – it’s been about keeping the lights on and limiting the damage. I’m also starting to get a feel that in many instances, capital that had been ring-fenced for future investment has either been paused, reduced or, in some extreme cases, pulled completely. It feels that the energy crisis has derailed some companies’ net zero ambitions – at least for now.”
2. A lack of data is hampering progress.
“During a recent Institute of Facilities and Workplace Management webinar (IWFM) that Bryt Energy presented at, between 36%-49% of the businesses attending felt that they did not have enough data to have a good grip on what they’re doing within their operations1. This is something that we’ve also noted in our own conversations with businesses. There is a lack of insight which makes it very difficult for businesses to understand their operations, this in turn is making it near-impossible to create a base position from which they can build.
With new low-carbon technologies required to achieve net zero, there will be a whole wave of data that is probably not even being considered yet. The challenge now will be gathering, processing and understanding this data to be able to make decisions in live time in order to capture the opportunities.”
3. Companies are finding it difficult to bring their energy plan together, holistically.
“The cost pressures currently facing businesses seems to be resulting in additional stakeholders being brought to the table with competing agendas. Specialists are brought in, but often feel that they’re working separated from other business areas and can struggle to get the buy-in they need to push projects forwards.
Additionally, projects often aren’t viewed at a holistic level. Instead, they’re viewed in isolation and on whether they provide an immediate financial return or carbon reduction on their own. For greater success, such plans need to be considered as part of a long-term holistic view in which they can complement open opportunities in the future.”