Meeting your ESG goals with NexRev by monitoring and reducing energy use
Tackling energy waste is key for organizations large and small across the US that have set themselves Environmental, Social, and Governance (ESG) standards.
ESG reporting is not currently mandatory in the US, but that’s changing following President Biden’s prioritization of climate change and environmental justice.
Consequently, earlier this year the Securities and Exchange Commission (SEC) announced new ESG disclosure requirements. Under these new rules, public companies must enhance and standardize climate-related disclosures.
The US is playing catch-up as, according to S&P Global, in the European Union, ESG regulations like the green taxonomy and the Sustainable Finance Disclosure Regulation are (already) changing the way companies do business. Green taxonomy “as a classification tool seeks to provide clarity for companies, capital markets, and policy makers on which economic activities are sustainable. As a screening tool, it seeks to support investment flows into those activities”.
ESG Example
A major telecom provider has worked hard on setting its ESG standards and goals – and has been reporting on its ESG performance for 14 years which has been ahead of its time and sets the standard for others to follow.
As well as including Corporate Social Responsibility (CSR) program achievements, progress toward long-term goals and key performance indicators, the company’s reporting also features analysis of urgent global ESG trends as well as challenges facing the company and its plans to tackle them. Topics include human capital management, human rights, climate change, customer privacy and media pluralism.
You can read more about AT&T’s ESG goals and performance here.
ESG, Electricity and NexRev
Reducing energy usage and switching to renewables are key components in the ESG targets of many organizations. At the moment, it is recommended that companies disclose their total energy usage, and a breakdown of energy usage by source. This enables indirect emissions to be measured and changes to energy use and mix to be monitored.
NexRev currently helps businesses across North America to save more than five billion kWh of energy which reduces their energy costs by over $1 billion a year – and saves over two billion kg of CO2 emissions. We provide clear measurable benefits to track progress, monitor KPIs and help our customers to achieve their ESG goals.
Freedom, our energy management system / building management system (EMS/BMS) provides a centralized view of all the connected devices, sensors and meters within a commercial building and generates the data that provides actionable insights to optimize energy consumption. An example of the data points that can be used in ESG reporting is that Freedom enables kWh and natural gas usage to be monitored in real-time.
The team of EMS/BMS experts at NexRev is focused on achieving real quantifiable results, and insights, and insights that enable organizations to identify new ways to reduce their energy usage.
In this earlier blog How do you implement energy conservation measures? our team of Energy Management Systems (EMS) experts discussed how HVAC systems account for a considerable percentage of both commercial and domestic energy usage – more than 40% in many cases, according to our customers. And outlined seven steps to energy conservation, performance efficiency, and savings.
To start the conversation about how you can reduce energy consumption, and slow down energy waste, please send a message to:
You can also read more about how NexRev can support your ESG goals here.