Energy management giant Schneider Electric UK has launched a ‘Rethink Energy’ initiative to change business, consumer and government attitudes to energy waste.

Referencing a survey of 600 businesses, where just over two thirds admitted they wasted energy, Schneider Electric said energy was frequently overlooked as a form of waste compared to other more visible wastes, such as plastics, fast fashion and food.

As a result, the company has launched #RethinkEnergy to tackle the problem, with a full report on the issue to be released in the near future.

‘Sustainability pays for itself’

Speaking at a launch event at Tottenham Hotspur’s new stadium in London - one of the world’s most energy efficient - Mike Hughes, zone president at Schneider Electric UK & Ireland, said: “We need to bring energy front of mind.

“The market needs to take an ‘activist’ approach to advocate for and instill efficiency and build an investment mindset if we are to achieve the [UK’s] 2050 net zero goal. As energy waste becomes more visible, businesses will increasingly be held accountable.

“HM Treasury recently suggested it could cost the UK around £1 trillion to achieve carbon neutrality by 2050, but it’s not about cost, it’s about huge savings. Sustainability is a cost that pays for itself and technology and innovation will be key to meeting the energy efficiency challenge.”

‘Huge appetite for change’

“There is a huge appetite for change from businesses, not just driven by reputation, but also by future business stability,” added James Diggle, head of energy and climate change at the Confederation of British Industry (CBI).

“Businesses can help consumers make the changes they need to be more sustainable through new products and services. Businesses can also change the way they operate, setting carbon reduction and sustainability targets and prioritising how they use their energy.” 

Digital tech

Earlier this year, Schneider Electric revealed how its own customer projects showed that harnessing digital technologies can slash energy bills and boost productivity by up to 50 per cent.

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