Sustainability Goals & Reporting - Where To Begin

July 25, 2022

Shifting to clean energy is no longer an option and now just a matter of when, and where to begin. Around the world, companies of all sizes and industries are recognizing and feeling the pressure to develop and disclose their corporate status on environmental responsibility, sustainability initiatives, and ESG (environmental, social, and governance) ranking. Decarbonization is now a critical business requirement for meeting federal regulations and mandates, attracting customers, optimizing investments, lowering costs, and expanding revenue.

To meet sustainability goals and reporting metrics, Commercial and industrial businesses are rethinking their traditional energy mix to include wind, solar, renewable energy credits, or a combination of all.

4-Key Steps to Developing Your Corporate Sustainability Plan

1.  Understand Your Energy Data

Implementing a sustainability plan requires that you measure, monitor and analyze your organization’s energy data. Your data provides insight into energy consumption across the entire organization. It allows you to measure and benchmark carbon emissions across all facilities and fleets and develop reporting to demonstrate your progress and environmental impact.

2.  Establish Sustainability Goals

A sustainability plan typically includes the overarching goal to reduce carbon emissions, in addition to addressing environmental, economic, and social equity goals. When deciding where to start, think about your business' core values and processes to be sure your goals will align. From there, establish both short-term and long-term goals and determine timing, funding and responsibilities related to each.

3.  Implement Internal Oversight

Once goals are set and aligned with your business' core values, you must ensure your plan will maintain integrity when decisions need to be made. Without governance, accountability, alignment and consistent communication, your plan will never be effective. To build a strong sustainability strategy, it is critical to identify an internal, dedicated sustainability champion(s) who will build your sustainability plan, set goals, gain stakeholder buy-in, assign tasks and manage all aspects.

4.  Track, Analyze, and Report Your Progress

Analyzing your energy data, benchmarking your progress, and reporting your GHG emissions are all critical to your success. Tracking and analyzing your energy data will help you optimize, forecast and enhance your sustainability plan.

Reaching Your Sustainability Goals Requires a Blueprint

Sustainability is a journey, and no two sustainability plans are alike. Your sustainability plan should meet the unique needs of your business both today and with the future in mind. Designing your sustainability blueprint will require strategic planning, continual nurturing, and corporate-wide involvement. Alongside advancing energy technologies and progressive carbon mitigation mandates, as your company grows and evolves, so too will your energy needs. 

Many organizations may not be as far down the path in their journey toward decarbonization and sustainability. Without access to in-house experts who can disseminate the analytics or reporting required to make informed decisions about renewable energy and facilitate contract negotiations, companies may feel highly motivated, or even pressured, but paralyzed by uncertainty of where to begin.

Leveraging an energy supplier with renewable energy experience and advanced energy reporting capabilities can help you develop the necessary blueprint and plan for achieving your unique sustainability goals.

For more than 25 years ESG investing has been a core strategy at NextEra Energy. It's our mission to accelerate the industry towards a zero-carbon future. As part of the NextEra family of companies, NextEra Energy Services can help analyze your organization’s energy data and identify opportunities for cost savings, carbon reduction, renewable energy integration and energy management — so you can build your Sustainability Blueprint with actionable goals and measurable results.

 

Contact us today to request a Sustainability Analysis.