Energy Transition Is Driving Large-Scale Changes

New-energy models are transforming the entire energy and utilities sector, as mitigating the impact of climate change has become its raison d’être, with energy-related greenhouse gas (GHG) emissions contributing to over 73 percent of all emissions globally.

Climate change and investor demand are principal drivers of change. Almost 70 percent of energy and utility organizations (68 percent) say that mitigating the impact of climate change is driving their shift towards new ways of doing business, 63 percent cite investor demand as the impetus for change. While just 44 percent of executives are guided by profitability as the leading driver for a shift to new models, the potential benefits for the bottom line are clear.

According to the new report, organizations that are implementing clean energy models have achieved a 4.6 percent reduction in scope-3 emissions and a further reduction of 13 percent is expected in the next three years, while some are also experiencing a 6 percent increase in revenue.

New-energy models are also leading to more upselling opportunities for organizations and the attraction of new customers. Global firms have already achieved an increase of 4 percent in upselling opportunities due to new-energy models, and over the next three years the figure is expected to increase to 9.2 percent.