According to reports, at a time when the government is putting pressure on the industry through various regulations to adopt more energy efficient production processes, manufacturers must look at incorporating sustainable practices into their innovation pipeline, a lecture talk series organised today by TERI Business Council for Sustainable Development (BCSD) concluded.
“Most global companies now realise that sustainable policy development doesn’t have to come at a cost to business,” said Mr Scott Tew, executive director, Centre for Energy Efficiency and Sustainability at Ingersoll Rand, a global company that provides products, services and solutions for quality air in homes as well as commercial and industrial establishments. “Rather, policy can actually create opportunity. Driving increasing standards through responsible policy and increasing incentives for energy efficiency investments benefits everyone,” he said.
Sharing the findings of a survey of global C-level executives sponsored by his company, Mr Tew said nearly 80 per cent of the respondents believed energy efficiency would be more important to their business in five years. More than half of them identified lighting as the key benefits of moving towards energy efficient production.
He, however, contended that companies must move beyond technology. “Technology alone will not change matters. Human factors are an important issue,” he added. “Energy efficiency is as much a challenge as about managing people,” he said.
In his opening remarks, TERI chief executive, Dr RK Pachauri, said energy efficiency was an approach that was a win-win one. It had major implications for all stakeholders, he added. “Unless we start talking tomorrow, we’ll not be able to build a brighter tomorrow,” he said.
Speaking on the occasion and in response to a query, Mr Venkatesh Valluri, chairman and president, Ingersoll Rand India, said the challenge was not just large corporate houses but rather at the SME (small and medium enterprises) level. For SMEs, he pointed out, the primary motive was keeping the organisation profitable with not much resources to invest in capacity building to meet energy efficiency standards.
“We need to invest in technology to meet the gap, say in power production for storage facilities for food. That’s the game in the future,” Mr Velluri said.