What progress, disruptions, and opportunities can companies expect in the coming 10 years and beyond?
From the evolution of the mission of business, to a reimagining of the energy grid, to growth in autonomous resources, we predict that the coming decade will hold just as many (if not more) changes for energy and sustainability as these past 10 transformational years.
It is an exciting, challenging, opportunistic time for energy and sustainability professionals, as the results of both our market and original research demonstrate. The hurdles they face today may well be the initiatives in the dustbin of tomorrow, and significant factors, including the looming impacts of COVID-19 and climate change, could lead to course corrections for us all.
As we conclude this year’s report, we leave you with our final takeaways.
1. Businesses ignore growing market factors at their peril.
Whether it is investor action on climate change, the developing identity economy, or the greatest transfer of wealth in history, now is a time for organizations to proactively manage energy and sustainability and the environmental, social, and reputational implications of both. Companies that ignore or underplay the market factors at work in the coming decade jeopardize the long-term stability of their organizations. Now is the time to accelerate.
2. Flexibility and resilience are the new names of the game.
The days of simplicity in energy and sustainability management are gone. Today’s professionals must advance their own skills while identifying and predicting points of convergence and market trends. The ability to rapidly respond to these forces will require elastic thinking that rewards innovative behavior. Companies that can proactively anticipate change will find themselves in a position of leadership and longevity, while those that cannot move with flexibility will fail.
3. Change happens faster than expected and should not be underestimated.
Technology can change more rapidly than anyone can predict. Thought leader Tony Seba is fond of using the example of mobile phones as an analogy in his talks on the energy revolution. In 1985, McKinsey gave AT&T a prediction that there would be fewer than one million mobile phones by 2000; the actual number was upwards of 100 million. Technology also begets technology, and at no time in human history has the pace of technological evolution been greater than it is today. This is a cautionary tale; we ignore history at our own expense. Companies should be prepared to embrace change even faster than predicted when it comes to energy and sustainability.
To learn more about how Schneider Electric can support your organization’s Active Energy Management journey, please contact us.