Daily CSR
Daily CSR

Daily CSR
Daily news about corporate social responsibility, ethics and sustainability

Mastering Sustainability: Navigating Regulations, Incentives, and Energy Efficiency Strategies



08/21/2024


We recently spoke with Megan Owen, Senior Energy Efficiency Manager, and Greg Kandankulam, Director of Sustainability, about how businesses can navigate local and federal regulations while making the most of government incentives to build a more sustainable future.
 
Our discussion covered:
  • Essential policy and regulation requirements [05:21]
  • Strategies to offset compliance costs [08:54]
  • Solutions for common compliance obstacles [11:25]
  • How businesses can determine their starting point [13:37]
  • The significance of setting sustainability goals [15:15]
  • Developing a comprehensive roadmap [16:54]
  • Crafting a holistic energy strategy [19:42]
  • Energy efficiency improvements for businesses [23:28]
  • Frequency of energy audits [25:50]
  • Selecting the right energy efficiency strategies [26:44]
  • Considering a phased approach [27:49]
  • Best practices for energy benchmarking and reporting [28:40]
 
Understanding Sustainability Policies and Regulations
As sustainability becomes a key focus for governments and businesses, it's crucial for companies to stay informed about the evolving local and federal policies. These regulations vary significantly across regions, from basic benchmarking requirements to stringent carbon emissions targets.
 
For example, New York's Local Laws aim to significantly reduce energy use, and other cities, like Boston and Washington D.C., have their own energy performance standards. California has also introduced Senate Bills 253 and 261. These are just a few instances of the diverse measures being implemented nationwide.
 
Setting Up for Success
Adhering to these dynamic regulations is challenging but vital for your business. It not only helps you avoid hefty fines but also boosts your brand’s value and attracts consumers and investors who value environmental responsibility.
 
To meet these goals, we suggest developing a comprehensive strategy that aligns with industry standards. Consider conducting annual energy audits to identify efficiency improvements and cost-saving opportunities. Regularly review and compare your building’s performance using the ENERGY STAR Portfolio Manager tool.
 
Partnering with Experts
Whether you're just starting out or aiming to refine your sustainability efforts, partnering with a knowledgeable advisor can be highly beneficial. Seek out a partner with a strong understanding of these complex programs and a proven track record of meeting deadlines and objectives.
 
At NRG, we assist businesses nationwide by:
  • Strategically planning their path to a sustainable future
  • Managing participation risks and identifying funding sources, including local incentives, rebates, and tax credits
  • Creating detailed roadmaps that integrate local and federal requirements into a unified plan
  • Guiding them in enhancing efficiencies and reporting for their organization