Energy
Get Ready for the European Sustainability Reporting Standards: A Comprehensive Guide for Businesses
The ambitious ESRS require businesses to consider their entire value chain's impact - from suppliers to customers.
OAK enables you to automatically report on your ESG requirements related to electricity. This includes ESOS, SECR, ISO 50001 and other compliance certifications.
ESG compliance reporting, if done manually, can be a cumbersome process. Managing the data collection and analysing them manually can lead to errors. This is where ESG software comes in. It offers a comprehensive and user-friendly platform which allows you to streamline the compliance procedures and maintain transparency throughout the process.
ESG software automates various aspects of the reporting process, enabling businesses to:
Centralise data collection: ESG software can gather data from various sources, which includes financial systems, energy bills, waste management records, and employee surveys.
Streamline data analysis: The software utilises built-in tools to analyse and interpret complex data sets, identify trends, and measure performance against ESG goals.
Generate comprehensive reports: Effortlessly create reports aligned with leading ESG frameworks like GRI Standards and the Task Force on Climate-Related Financial Disclosures (TCFD).
Ensure regulatory compliance: Stay updated on the changing regulations and meet reporting requirements in various jurisdictions.
Improve stakeholder engagement: Communicate ESG performance effectively to investors, customers, and other stakeholders.
ESG software is constantly transforming, with many new features and functionalities coming up to address the growing demands of businesses. Here are some key trends shaping the future of the sector:
Integration with Artificial Intelligence (AI) and Machine Learning (ML)
AI and ML capabilities are being integrated into ESG software which will revolutionise automated data analysis, identify risks beforehand, and provide predictive insights for better management.
Enhanced data security and privacy
As the volume and sensitivity of ESG data gets complicated, businesses must deploy robust data security measures. Leading software providers are prioritising data encryption, access control, and compliance with relevant data privacy regulations.
Cloud-based solutions
Cloud-based deployment offers greater scalability, accessibility, and real-time data management capabilities.
Focus on industry-specific solutions
Software providers are developing solutions which can respond to the specific needs of different industries, ensuring a more comprehensive and relevant approach to ESG reporting.
The OAK Network is a leading provider of Energy Management Services (EMS) in the UK and Europe. Recognising the growing importance of ESG compliance, our team of experts in the OAK Network offers you a comprehensive ESG software solution designed specifically to simplify and expedite the reporting process.
Here's how The OAK Network's ESG software empowers businesses:
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Ready to experience the transformative power of ESG software? You can now book a free demo with us to witness the capabilities of our platform and how it can streamline your ESG compliance reporting.
While both ESG software and EMS play crucial roles in sustainability initiatives, there are key distinctions between them, such as
ESG Software: ESG software primarily addresses the collection, analysis, and reporting of data related to a company's environmental, social, and governance performance.
EMS (Energy Management System): Focuses on optimising energy consumption within an organisation. An EMS helps businesses track energy use, identify areas for improvement, and implement strategies to reduce energy waste and costs.
With Real-time data it takes all the guess work out of the picture, as you can now make decisions based on live consumption. At OAK, we take care of all the data crunching for you so that you can focus on taking action to improve energy efficiency, save on energy costs and ensure optimal operation of your site with ease of mind.
Monitor Key Performance Indicators (KPIs), identify trends, spot process & operational issues. Make the best data-driven decisions to optimise energy consumption.
Receive alerts whenever your consumption exceeds normal levels and keep up-to-date with the performance of your business.
Get notifications when your equipment needs maintenance to prevent unexpected costly breakdowns potentially causing thousands of £££ in lost revenue.
With our solution you can now recognise instances of overcharging, consolidate records into a single location, and forecast for future invoices.
We deliver a bespoke analysis of your site, deep diving into each appliance to identify energy savings potential and optimisation opportunity. All while providing you with neccessary compliance & performance reporting delivered directly to your email inbox.
Management & operations receive their separate accounts so management gets clear oversight while operations deals with the day-to-day insights.
Assess your business efficiency performance by anonymously comparing it to other businesses in your industry.
We can establish optimal green infrastructure projects with your ideal ROI and payback period, making a data-backed case for 3rd party financing via your bank or OAK’s trusted partners.
Separate accounts for business owners and their management teams.
With OAK, you will have the data required to comply with regulations when it comes to electricity, while also optimising and saving on cost.
Accurate Real-time data provides the foundation for data backed decisions, not only for improving efficiency but also for CAPEX upgrades. This includes everything from: Solar panels, voltage optimiser, LED, Battery storage, Heat pumps etc. We provide you with the data to make the right decision for your business along with financing options to make your ESG journey more budget friendly.
An industrial manufacturing company was experiencing a significant increase in their electricity bills, despite a great electricity rate. They struggled to identify the underlying cause of their escalating costs, as their energy consumption kept increasing.
That’s when they decided to partner with OAK Network to conduct an electricity optimisation analysis. OAK’s team of experts performed a comprehensive review of the client’s energy usage and identified several areas where they could reduce their energy consumption and costs.
The recommendations provided were customized to suit the specific energy needs of the manufacturing industry and aimed to assist in achieving optimal energy savings.
Once the energy-efficient solutions are implemented, OAK Client should see a significant reduction in their electricity consumption and costs. An impressive £60,008 of annual savings are predicted to be achieved.
OAK’s solutions will also help manufacturer to reduce their carbon footprint and promote sustainability, aligning with the company’s corporate social responsibility goals.
In this case study, we explore how OAK Network helped a shared office space identify their energy savings potential. With multiple businesses operating within the building, energy usage was a significant expense that needed to be addressed.
By conducting a thorough energy audit, OAK was able to pinpoint areas of inefficiency and waste. The audit results revealed that shared space owners were wasting around £100 per day, leading to an annual wastage of £37,000.
As energy costs make up a substantial part of operational expenses, reducing electricity consumption is a crucial concern for the hospitality industry. In the context of this case study, the hotel’s annual electricity consumption is expected to be around £360,000.
To address this concern, the hotel’s management is collaborating with OAK to implement various measures that will help reduce electricity wastage. The hotel’s commitment to operating sustainably is reflected in their daily actions, which are now supported by live data visible on OAK Insights.
The OAK Network uses electricity monitoring technology to understand the energy patterns within abusiness. This data guides the user to inefficiencies, faulty appliances, and high-potential saving areas. Whether a company is looking to save money, save carbon, or save time, OAK Network makes achieving those goals simple.
This Case Study presents two clients in the Distillery industry that have implemented OAK attheir sites in Scotland. This page and the following ones are dedicated to Glenturret. Please go to page 8 for anonymised Company B's case study data.
As rising electricity costs continue to impact the hospitality industry, OAK is here to help establishments address this challenge. Our cutting-edge OAK Intelligence platform provides businesses with the tools and insights they need to optimize their electricity usage, reduce costs, and improve profitability.
With our expert guidance and support, establishments can implement energy-efficient measures, adopt renewable energy sources, and achieve maximum cost savings.Experience the OAK insights by downloading our report example below.
