2012 has been declared as the UN International Year of Sustainable Energy for All, a move that emphasises the importance of sustainable energy towards in creating opportunities for progress.
Energy is a key business and sustainability risk area and businesses see poor management can equate to increased costs. In March 2011, the UK’s Department for Environment, Food and Rural Affairs (Defra), announced that UK businesses could save £7m a day in the way they use energy. This equates to £23 billion worth of cost reductions across the UK.
This construct is to recognise innovative and progressive approaches to reduce dependency on fossil fuels and remove existent atmospheric carbon through mitigation and reduction. These will include, but not be limited to, energy efficiency strategies, ICT, retrofitting and switching to renewable energy sources.