Welcome and greetings from BCSD Malaysia!
Leading companies are transforming from passive energy users to prosumers (producers-consumers), deploying various technologies, business models and financing options to achieve their energy-related targets, and working with stakeholders across the value chain to initiate and lead the energy system transformation.
The business case for collaboration is clear: more opportunities are captured when collaborating – internally across functions, and with stakeholders across the value chain. Benefits range from increasing resilience of own operations and those in the supply chain, reducing carbon emissions and improving relationships with investment communities as well as the customer base.
Leading companies view their energy strategy as a journey. They build competencies and expertise and continuously redirect focus and improve their practices in line with technology and market developments. Cross-functional collaboration with all relevant departments of a company is key to success.
With executive management support, and buy in from all relevant departments, including finance, risk, procurement and manufacturing, companies can have an effective and holistic energy strategy in place.
Barriers to adoption of new technologies, for example high capital requirements and long payback periods, can be overcome with a mix of different business models and financing mechanisms. For instance, private purchase agreements (PPA) can prove key to scaling solar RE.
With executive management support, and buy in from all relevant departments, including finance, risk, procurement and manufacturing, companies can have an effective and holistic energy strategy in place.
Barriers to adoption of new technologies, for example high capital requirements and long payback periods, can be overcome with a mix of different business models and financing mechanisms. For instance, private purchase agreements (PPA) can prove key to scaling solar RE.
To ensure companies can meet their ambitious targets to decarbonize energy use, including emissions in the value chain (e.g. Scope 3 emissions), it is critical to scale impact in conjunction with appropriate partners and suppliers. Companies that collaborate across their energy-related value chain and invite external expertise will find innovative ways to lower emissions from energy use, make their own operations more resilient and scale their impact across the value chain.
As we recover from the coronavirus pandemic, we owe it to future generations to base our recovery on solid foundations, including a fairer, greener and more resilient global economy. Every country now faces a choice: between laying the foundations for sound, sustainable and inclusive growth or locking in polluting emissions for decades to come. We have a huge opportunity to not just rebuild what went before but to build back better. A clean and resilient recovery will create employment in industries of the future, while addressing the urgent and linked challenges of public health, climate change, and biodiversity loss. The energy sector will be the center of this transition.
