A push to go greener faster

THIS WEEK'S TOPIC: What's the impact of rising energy prices for your organisation?

Lawrence Loh Director, Centre for Governance and Sustainability NUS Business School Rising energy prices particularly from fossil fuels is a timely wakeup call. Businesses should fundamentally always reevaluate their energy mixes. It is not about oil prices - it is about staying sustainable for the business and making the world sustainable. We will need renewable energy from all possible sources especially the natural elements - sun, wind, water. We need critical masses of demand so that suppliers will have the economies of scale. It is a small step for each business but it will be a giant leap for economic viability. Yes, oil prices are rising. Why not take this opportunity to be sustainable? Let's all make a virtue out of necessity.

Alvin Ng VP and General Manager, Digital Solutions, Asia Pacific Johnson Controls Soaring energy prices are adding pressure to companies already grappling with multiple challenges including inflation and Covid. However, on the bright side, it is also pushing businesses to accelerate transitioning to cleaner sources of energy as well as improving energy efficiency. For the built environment, there are existing cost-effective solutions to counter rising energy prices, and we see increasing interest in such solutions - for example, through digitalisation and artificial intelligence to optimise energy use. The business case for clean energy and energy efficiency is getting more compelling.