Energy failures threaten firms
10 Jun 2014
Certification body says organisations are exposed to financial risk if they fail to improve energy efficiency
Inefficient energy management policies and management systems are leaving companies and public-sector organisations “wide open” to major financial risk, according to international certification body BM TRADA.
Energy-intensive industry sectors including transport, food & beverage and manufacturers, and public sector organisations such as hospitals, schools and local authority buildings, energy companies and construction firms have the “most to gain” from overhauling their energy management procedures, BM TRADA says.
Inefficient energy management systems are leaving businesses and organisations wide open to financial and reputational risks
BM TRADA’s Tom Johnston
Failing to act could expose businesses to “significant” financial pressures and market uncertainties, as well as reputational risks, in the long term. Tom Johnston, BM TRADA’s chief operating officer of central certification services, said companies need to continue “rising to the challenge” of energy management.
“The cost of energy is rising rapidly, fuelled in part by growing concern over energy security, and it is the business and public sectors that are feeling the financial impact the most,” said Johnston.
“At the same time, energy efficiency is now firmly on government agendas in a bid to tackle carbon emissions and wastage in the industrial sector [and] is being met with increasingly heavy penalties.
“Inefficient energy management systems are not only costing companies more than they realise, but [they] are also leaving businesses and organisations wide open to financial and reputational risks which they can ill afford to deal with.”
