Environmental, Social, and Governance (ESG) standards have become increasingly important to investors, customers and the public-at-large, even more so during the current pandemic. In a post-Covid world, stakeholders will be looking more closely at a company’s ESG efforts as a measure of its resilience and commitment to a healthier world.
A recent survey by J.P. Morgan of 50 global financial institutions, representing a total of $12.9 trillion in assets, found that COVID-19 will impact the future of ESG investing. Some 71% of respondents responded that it was “rather likely,” “likely,” or “very likely” that COVID-19 would spur investment in sustainable companies as investors see parallels between the unforeseen risks of a pandemic and issues such as climate change.
However, today’s savvy investors and other stakeholders will also want proof that a company is fulfilling its sustainability promises.
The good news is with advanced technologies such as the cloud, AI and IoT, companies can gain real-time insights into their physical assets to optimize performance while saving money at the same time. In turn, this detailed data can also be used to demonstrate a company’s progress on its ESG goals.
mCloud’s AssetCare™ Connected Buildings solution, for instance, increases energy efficiency in commercial buildings, quick service restaurants, and retail stores, all of which can be large sources of wasted energy, by measuring, controlling and verifying improvements in energy usage. As of 2019, mCloud’s customers have been able to reduce their HVAC energy footprint by as much as 55%, reducing carbon emissions in the process as well.
In the process industries, mCloud’s Connected Industry solution increases the efficiency of oil and gas operations and other plants, enabling facilities to operate in a more environmentally friendly way by maximizing the productivity of existing infrastructure. mCloud also offers aerial survey capabilities with drones that automate and streamline the detection and measurement of fugitive emissions, including greenhouse gases, natural gas and volatile organic compounds.
In the renewable energy space, AssetCare™ Connected Wind solutions help optimize wind farm energy production yields by utilizing the power of connectivity and AI-powered solutions. Whether a single wind turbine, a wind farm or a multi-national fleet, the solution gives operators visibility into how their turbines are performing and how to best improve Annual Energy Production (AEP) moving forward.
With these initiatives in place, it is estimated that mCloud’s asset connectivity solutions helped reduce the annual carbon footprint of our customers by 80,000 tons in 2019, which is approximately the same amount of greenhouse gases emitted by roughly 18,000 passenger vehicles for one year, resulting in 120M+ kWh in energy savings annually.
Protecting Public Health
Of course, what’s even more pressing on people’s minds these days is protecting near-term public health.
Before the pandemic, mCloud combined its cloud-based energy management solution for major restaurant chains and other businesses with additional technology to measure and ensure indoor air quality.
The company then partnered with SecureAire which offers hospital-grade air filtration systems that when combined with the mCloud solution help meet or exceed indoor air quality standards established by the American Society of Heating, Refrigerating, and Air Conditioning Engineers (ASHRAE).
This combined ventilation and filtration solution has become even more relevant as the scientific consensus builds that SARS-CoV-2, the virus that causes the COVID-19 disease, is often spread via airborne transmission of tiny particles that can hang in the air for several hours in poorly ventilated spaces.
By being remote and cloud-based, AssetCare can respond instantly to any air quality issues it detects, automatically maximizing ventilation in an area that needs it instantly or flagging HVAC unit issues that could prevent enough fresh air from getting to all areas of a building.
The other benefit is maximizing energy efficiency. While health authorities such as the CDC are now recommending everyone open windows or doors to maximize the dilution of airborne particles with outside air, that will have an adverse effect on a building's energy efficiency if left unaddressed. AssetCare helps ensure that indoor spaces are safe while they are occupied while also reducing energy use whenever possible.
The world is facing many challenges that ESG company mandates are designed to meet. mCloud’s AssetCare platform is perfectly suited to confirming both internally and publicly that many of these goals are being met.
For more details on how mCloud Technologies can provide proof of your organization’s progress toward achieving its ESG goals, please contact us here.