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Publication
Sustainability Report in order to Improve Energy Efficiency in Indian Industry
Authors
Abstract(s)
Electricity is an indispensable resource in today’s world, not the least of which because
the business community is shifting toward the digital environment and every sector is
dependent on digitalization and other modern technologies that consume ever more
electricity. To meet the demand, most of the world’s electricity is produced in thermal plants
burning coal, which exacerbates their carbon footprint and degrades the environment. The
emissions of carbon dioxide and greenhouse gases create more and more imbalances and
instability in the climate (inconsistences in weather) ( Harvey, 2018). Sustainable methods
of producing electricity are required. Wind power and photovoltaics are two examples of
sustainable power that can be used to replace fossil fuels. Governments and private
companies are investing collaboratively to encourage the use of renewable means (hydro,
wind, solar, biobased, and geothermal energy).
In this context the objective of this study is to contribute to the debate of how can we
promote the installation of renewable energy systems in companies. To this end, this study
focuses on sustainability reporting of Indian companies. In particular, their energy disclosure
in order to improve energy efficiency and auto sufficiency. A content analysis of the
sustainability reports and some statistical tests were conducted to better understand what
Indian companies disclose about energy and whether there is a relationship between the
disclosed information.
The findings led to the conclusion that out of the sample analysed, 10 % do not disclose
any information on energy. The most reported information refers to “Energy Disclosing
company's energy policies” and “Conservation of energy in the conduct of business
operations”. Also, when companies disclose about “Energy consumption outside of the
organization” they also disclose about “Energy consumption within the organization”. The
same with “Reductions in energy requirements of products and services” and “Reduction of
energy consumption”. In other words, there is a correlation in the disclosure of these topics.
Most reports reveal the preference of companies to use solar energy (70%). The electricity
price can also be an important variable in this role.
This shows that most of Indian companies are concerned about reporting information on
their energy management, but there is still a lack of information and a long way to go to achieve excellence in energy efficiency. This is an exploratory study that intends to open
doors for a deeper dialogue on this sensitive and important subject, being on the table of any
state meeting the energy sustainability of countries and in turn of companies and society.
The importance of government/policy policymaker’s mote clean energy and fulfil the
demands of electricity in all sectors will promote long-term economic growth. It is important
that legislative changes to move obstacles and boost the adoption of renewable energy in the
future. So, this study can be a practical contribution to this debate.
Description
Keywords
Sustainability Report Energy Efficiency Content analysis India