A new study released this week by Harvard Business Review Analytics Services, sponsored and created in part by Siemens, surveyed leaders from organizations including businesses, hospitals and higher education institutions from across the U.S. on their efforts to address business resiliency and energy innovation.
The study was released in conjunction with a Harvard Business Review and Siemens series in Los Angeles on “Delivering Economic Resilience in the New Energy Paradigm.” The event featured policy and business leaders discussing energy’s role in broadening the LA region’s resilience efforts with speakers from the Los Angeles Department of Water and Power and 100 Resilient Cities.
The study found that while businesses have strong energy-related concerns—including power interruptions from weather-related events and cyberattacks on power grids—the majority of organizations have yet to embark on any significant course of action. In fact, only 27 per cent of companies said they have initiatives in place to address climate change and even fewer have a business resiliency plan.
“The disconnect between concern and action that this study presents is due to the fact that we’re moving into new territory. Until recently, organizations could have these types of concerns but not necessarily the tools to take action. But now, technology is ready to be deployed and the economics are favorable,” said John Kovach, Global Head of Siemens Distributed Energy Systems. “Technology offers us the opportunity to address challenges like extreme weather by embracing decentralized power, the on-site energy systems that can keep power running while providing the potential for major cost savings and a greatly reduced carbon footprint.”
“The US is entering a new energy era. To meet the demands of a changing energy landscape, organizational leaders are well advised to add energy innovation to their skill sets,” said Alex Clemente, Managing Director of Harvard Business Review Analytic Services.
The study also asked organizations to share their efforts to implement decentralized energy systems and technologies to help make their operations more resilient. The findings showed that although the vast majority of organizations are focused on improving energy efficiency, only about one third are generating power on-site. These business leaders are also expecting government to provide support and leadership and the vast majority see municipal governments as an important partner to assure business resiliency, although very few have established any partnerships with the government.
For access the full report, please visit https://hbr.org/resources/pdfs/comm/siemens/HBRAS.Siemens.9.25.17.pdf.