Energy Points launches de facto sustainability standard
Energy Points has received a $3 million investment from Plan B Ventures to launch what Energy Points is calling the "world's first universal metric for measuring sustainability across all resources," including electricity.
The metric allows utilities and energy service companies (ESCO), among others, to make sustainable project decisions based on organizational impact. With the EnergyPoints platform, all areas of environmental sustainability, including fuel, water, transportation, waste, etc., are measured by a single common unit.
The metric comes at an ideal time. In 2011, 68 percent of companies said their focus on sustainability increased in the past year, while 66 percent of respondents stated that sustainability was necessary to be competitive, according to the Sustainability & Innovation Global Executive Study and Research Project by MIT Sloan Management Review and Boston Consulting Group. But until now there has been no universal standard for measuring sustainability in an actionable way or that accounts for variables that can impact sustainability such as different fuel sources, geographic locations, electricity generation, etc.
Further research has shown that consumers are more drawn to utilities and other companies that demonstrate sustainable behavior.
"By not demonstrating their corporate sustainability in clear and quantitative terms, they're leaving opportunities and revenue on the table," said Dr. Ory Zik, founder and CEO of Energy Points. "By converting all energy sources and domains to one simple metric, businesses can now make decisions based on their true financial and environmental impact, while providing clear, consistent evidence of their own sustainability. They finally have quantitative proof which projects will have the greatest impact, based on parameters such as local water scarcity, local electricity source mix and financial savings."