By Jimmy Jia
The U.S. Environmental Protection Agency (EPA) has reported that companies waste 30% of the energy they consume. For many businesses, this is equivalent to overspending on energy by that amount to achieve current production levels.
You’d think that increasingly sophisticated technology would help reduce this waste. However, overspending is often the result of decentralized and siloed decision making over the utility budget. For example, the finance department approves what to buy, facilities maintains equipment, HR tells employees how to conserve energy, and marketing manages the company’s corporate sustainability reporting.
Read the full article on the Harvard Business Review website.