Renewable Energy Innovation – This is a debate about why big changes are needed in an area whose performance is so important to the Canadian economy.
However, unlike most debates, it doesn’t matter if one side of the argument is more persuasive than the other.
Renewable Energy Innovation
It’s important that change happens – in this case, for manufacturers to switch to clean energy. Because when it does, everyone wins.
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In some ways, it differs from other transformative moments that have occurred in business, including manufacturing.
Take the example of cloud computing. Before it was possible to host applications and infrastructure over the Internet, the only way technology companies could deliver their products was to deploy them on premises.
At least in that sense, the move to the cloud that he started in the CRM space with Sales Cloud is a true innovation.
But as more companies move toward software-as-a-service (SaaS) and even infrastructure-as-a-service (IaaS) products and services, innovation isn’t necessarily the goal. For them, moving to the cloud is a smart way to access IT resources, deal with fluctuations in technology demand, and reduce costs.
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Manufacturers may view clean energy in a similar way. For some, it can be a way to leverage disruptive opportunities to help refocus on customers and the market in general.
For others, using clean energy may simply fit into strategies they’ve long established and how they can achieve specific business outcomes. It can even be a way of working that aligns with the company’s mission, vision and values.
Let’s look at some examples of clean energy as a catalyst for innovation and good business practices to explore this further:
Fossil fuel prices can fluctuate widely, which greatly affects producers’ ability to manage budgets and meet customer demand.
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A study by consulting firm Deloitte found that the transition to clean energy means reducing dependence on fossil fuels and thus reducing uncertainty and the impact of sudden changes in the sector.goods.
The Climate Action Opinion report says that a clean energy tradition will benefit manufacturers and even how they are viewed by the communities they serve.
This includes consumers who purchase the manufacturer’s products and their B2B relationships with suppliers and other stakeholders.
Even investors can see that a clean energy producer has the kind of capital that provides long-term financial support.
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Manufacturers are often aware of advances in retail, healthcare and financial services, but may feel they don’t have the budget to explore opportunities such as digital transformation.
Some companies may want to read the International Renewable Energy Agency (IRENA) report. It is predicted that new energy by 2030 can account for up to 27% of total final energy consumption for global production. This could reduce the amount of capital they need to test technologies that can significantly improve the way they work, the report says.
One of the key indicators of success for many manufacturers is that their existing factories are so busy that they need to build more. However, this is not an easy task. Companies need to make sure they don’t take on projects they can’t afford yet.
However, a recent Industry Week article looked at how clean energy can lower the cost of building a new plant and thus boost organizational growth. There aren’t many better business cases.
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Clean energy creates more jobs. In fact, a report by the Buckingham Institute says it will boost communities traditionally focused on fossil fuel production and open up demand for new talent.
For example, instead of hiring more assembly line workers, this means manufacturers are starting to hire innovators to develop new ideas for harnessing wind energy. , solar energy and biomass.
Think of this as the opposite of the previous point. Manufacturers are like all employers in that they need to consider what motivates their teams to work every day. The risk of employee turnover is higher than ever.
Investing in clean energy sends a strong message about what a manufacturer considers their responsibility to the planet in terms of sustainability. And while fossil fuels will eventually run out, renewables promise a long-term future that workers can count on.
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Predictably, neither side really “won” this argument. The goal is to show that the transition to clean energy can do two things at once.
First, they can increase their ability to innovate through the cost savings and talent transformation that green energy brings.
Second, clean energy aligns with good business practices to reduce capital expenditures, better use resources, and nurture relationships with customers and the rest of the organization’s ecosystem.
The time for debating the transition to clean manufacturing is over – it’s time to start doing it. National Energy Administration (NEA) 5-year plan for technological innovation in the energy sector.
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The NEA’s ambitious plan shows new renewable energy systems, the development of safe nuclear power, the use of lower carbon and more efficient fossil fuels, and the creation of a new energy industry – digital and smarter.
The detailed documents, published on April 8 and 10, provide official support and regulatory support for investment in a range of technologies that fall within the parameters of the so-called fourth industrial revolution, namely the adoption of artificial intelligence and broadband across all major industries. economy. activities that have far-reaching implications for the Internet of Things (IoT), transportation and logistics blockchain applications, and carbon trading.
Private sector leaders envision a transformed Chinese economy in which the Internet of Things will track every item in a vehicle or warehouse using blockchain applications, while tracking the carbon footprint of all assets through a unified national network.
2015 by the China Banking and Finance Association, the People’s Bank of China (PBoC) and regulators. set up by a state-run agency, the study predicts that China will invest US$74.2 trillion (487 trillion yuan) in becoming more carbon neutral. five times more than in 2020 over the next 30 years.
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The 200-page green finance study came out in 2021. in December, led by Ma Yun, president of the Beijing Institute of Finance and Sustainability, an independent organization that provides financial research, analysis and training.
Ma, who holds a PhD in economics from Georgetown University, is a former director and investment strategist at Deutsche Bank, a former economist at the International Monetary Fund and the World Bank, and was once a member of the PBoC’s monetary policy committee.
China’s Big Green Energy Program Sounds But Very Different From 2020 referred to as the World Economic Forum’s Great Reset initiative, is not an environmental program. A new document from the State Council says that plans to reduce and rationalize carbon emissions will lead to economic and capital market reforms in various industries.
According to a report by the China Banking and Finance Association, high-tech investment in carbon-neutral technologies will substantially improve productivity and spur new economic growth. The $74.2 trillion plan, if fully implemented, would be the most ambitious investment program ever.
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The State Council’s new guidelines recommend the implementation of institutional and regulatory changes necessary to accelerate the implementation of the plan.
In particular, the State Council document calls for a unified capital market with “strong risk management capabilities” for the stock market, China’s secondary land rental and mortgage markets, and a “new credit-based regulatory mechanism” for capital allocation to corporations. and improving the security and portability of property rights.
In short, the State Council’s vision for a common national market envisages a “network of national logistics centers” linked to “multimodal transport”. China said it would build on its leading technology companies and “build a group of digital platform companies and supply chain companies with global influence and promote logistics around the world,” a society that will reduce costs and increase efficiency.
Notably, the State Council also proposed a unified national energy market through “market-oriented natural gas reforms,” a “uniform multi-level electricity market system” with a “national electricity trading center” and a “national unified coal trading market.”
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A more unified energy market will help address current distortions. in 2021 conflicting demands on coal companies to reduce pollution and improve mine safety collided with growing national demand for coal, leading to shortages, blackouts and higher coal prices.
But the State Council’s program has broader ambitions than China’s short-term electricity issues, with plans to “establish a unified national trading market for carbon and water rights.”
Its proposed national energy trading market is part of a larger master plan to integrate “big data, artificial intelligence, blockchain, fifth-generation (5G) mobile connectivity, the Internet of Things and energy storage.”
However, it takes motivation and entrepreneurship to make it all work. Enter Chinese-American entrepreneur Bruno Wu Zheng, chairman of Sun Seven Stars Investment, founder of global business Giga Carbon Neutrality (GNC) and, in full disclosure, a significant
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