Save energy through low-cost improvements
Australia is moving towards greater climate transparency, and businesses that act now will gain a competitive edge. The New South Wales (NSW) Government is on a mission to assist businesses in reducing energy consumption and achieving net-zero emissions by 2050. Businesses are encouraged to gain control over energy costs and reduce emissions by understanding how your business uses energy. An energy metering and monitoring system provides real-time data, allowing you to track consumption, identify inefficiencies, and improve overall energy performance. A pivotal component of this initiative is the Metering Plan Implementation Grants, which provides financial support for businesses to install energy metering and monitoring systems. The upcoming Climate-Related Financial Disclosure (CRFD) regulations will soon make emissions reporting mandatory for many companies, pushing sustainability from an option to a requirement. Grant applications are expected to open in FY24/25. Stay up to date and receive updates about these grants here
The Role of the Metering and Monitoring Strategy Implementation Report
Before grant approval, businesses are required to develop a comprehensive Metering and Monitoring Strategy Implementation Report. This report outlines the current energy metering landscape, identifies system gaps, and proposes actionable steps to enhance energy monitoring. The NSW Government provides a detailed template to guide businesses in crafting this report, ensuring a thorough assessment of their energy systems.
Collaborating with Expert Consultants
Developing the implementation report requires specialised expertise. Consulting firms like EnergyLink Services, a multidisciplinary consulting firm based in Sydney, offer tailored advisory and assurance services in renewable energy, energy efficiency, and emissions reduction. Their team of experts can assist businesses in navigating the complexities of energy assessments, ensuring alignment with grant requirements and optimal energy performance. Visit their website here.
How IPD Can Help Align Your Business With The Upcoming Climate-Related Financial Disclosure Regulations
Australia is set to introduce mandatory climate-related financial disclosures for large businesses and financial institutions, from 1st January 2025. This legislation requires entities to prepare annual sustainability reports detailing climate-related financial risks and opportunities, integrating sustainability into the core of financial reporting.
Implementing robust energy metering and monitoring systems positions businesses to meet these disclosure requirements effectively. At IPD, we pride ourselves on being an end-to-end solution provider in the realm of energy management, offering tailored solutions from metering to Energy Management Systems (EMS). One of our offerings, IPD Optimise, serves as our main end-to-end EMS solution, providing businesses with the tools they need to monitor and optimise their energy usage efficiently.
Our range of metering solutions includes top-quality offerings from industry leaders like ABB and Selec, as well as our own NMI Compliant meters crafted for sub-billing and utility metering. From premium primary offers to economical solutions, we cater to various needs, ensuring that businesses have access to the right tools to track and manage their energy consumption effectively.
In a world where sustainability is no longer just an option but a necessity, IPD stands as a reliable partner for businesses looking to power their electrical solutions safely, reliably, and sustainably. Get in touch with us today.