Sustainability: The New Agenda

From the disruption caused by the war in Ukraine to the cost-of-living crisis and a growing sense of economic uncertainty, the past two years have been a challenging time for businesses and their customers. Energy consumption became both a major topic of conversation and a growing cause for concern, as it connects so directly to costs and to sustainability efforts.

Rachel Fletcher, Director of Regulation and Economics at Octopus Energy, was the keynote speaker at our December 2022 ExecLeaders event in London. Rachel has also worked at the UK’s energy regulator, and was able to offer insights into how business leaders, government agencies, and legislators can work together to maintain sustainability commitments.

The public and private sectors must work together
Last year’s COP27 UN Climate Change Conference demonstrated consensus and commitment to global emissions targets—but the drive to net zero will not be driven by the government alone. The private sector must be prepared to join in, set the agenda, and lead through investment.
 
Net zero is not an add-on, so be serious about making a real change
If you want to drive change, you must be ready to accept change. For Octopus, that’s meant offering new services, like electric vehicle leasing. It also means educating customers to grow their interest in greener energy.
 
Technology is crucial to the success of net zero
Managing a modern, intelligent energy distribution network isn’t possible if you’re using legacy technology. Data analytics, AI and automation all have a part to play in helping balance supply and demand.
 
Your customers must come with you
Net zero is a journey for you and your customers. So, invest in the capability to deliver first-class customer experiences, consistently. Be sure to explain the need for any changes you make and show customers how they will benefit too.
 
Don’t forget your investors
There may be up-front investment needed. Be clear about your direction of travel and demonstrate how your investments will open up new opportunities, then your investors are more likely to stick with you. Projects such as the Truro Smart City initiative show what can be achieved.