In our latest post in this series, we discussed the challenges of incorporating ESG into WtE. Specifically, minimizing GHG emissions, the lack of ESG regulation, and facilitating communication between all the parties involved.
But when projects are run correctly- and better yet, digitized- energy producers can gain better insight into their projects for ESG compliance and overall production. Additionally, through digitization, WtE leaders can begin to establish a solid baseline for measuring ESG metrics despite the fact that regulations are currently limited.
With a potential solution to the challenges presented by ESG, WtE leaders can confidently move toward achieving ESG goals and measuring their progress.
That is what we’ll cover in today’s post.
As we’ve discussed, there are certainly challenges facing WTE, but it remains to have a lot of potential in meeting ESG goals. To this end, WTE leaders must act and plan accordingly.
Here are a few tips on what business owners can do to meet ESG goals for their WTE projects.
Companies that NASDAQ categorizes as sustainability leaders (using MSCI ratings) exhibit higher returns and less risk within five years. On the other end of the spectrum, companies ranked as “laggards” experience the opposite, with increased risk and fewer returns.
This shows that simply adopting key sustainability policies and reducing your carbon footprint can create measurable benefits for the bottom line.
Therefore, leaders must display these benefits to attract investors to support their practices. They can also indirectly influence their industry by teaching other companies about the benefits of becoming sustainable – in more ways than one.
The Sustainability Accounting Standards Board (SASB) has published industry-based standards that can help project owners streamline their ESG research efforts.
Using SASB standards, businesses can easily align themselves with industry-specific ESG goals without having to start from scratch. This allows leaders to dedicate the right resources to carry out the best, targeted practices instead of having to spend extra time figuring out what to do and how.
Conducting regular greenhouse gas (GHG) emissions reports is increasingly becoming standard practice. ESG-aware companies are now demanding GHG emission reports from their suppliers, as well.
WTE leaders, energy facilities, and even small businesses can get ahead of the curve by implementing a GHG measurement policy.
This will not only enhance the corporate brand but will also attract the business and money of ESG aligned companies and individuals.
One of the main challenges facing the implementation of WTE projects in line with furthering ESG goals is its complexity.
Because it’s still an emerging industry, WTE supply chains are complex and dynamic. WTE has a complicated supply chain and little exposure, which means that various parts of the process don’t communicate well.
This leads to reduced productivity, increased costs, and several other inefficiencies.
Investing in a unified, streamlined, cloud-based supply chain management platform, such as EnMass Energy, makes it easier for entities involved in the WTE trade to manage their supply chain.
EnMass Energy consolidates and connects all parts of the supply chain. Whether you’re a supplier, transporter, storage facility, or WTE plant, the EnMass platform can help you with increased supply chain transparency and more efficient processes.
Not only does it make WTE efforts seamless and efficient, but it also creates other tangible benefits that can help sustainable energy producers make procurement choices that benefit both their efforts and the environment.
Waste-to-energy technology is critical to establishing a more sustainable and equitable future. The next best step forward for this sector is investing in digital solutions to help WTE companies become more efficient and meet their ESG goals.
We’re in the business of assisting WTE producers in achieving their ESG objectives faster by automating their WTE projects while also incorporating ESG goals and making the waste-to-energy process more efficient at EnMass Energy.
We invite you to see our platform in action by scheduling a demo today!