National Energy Day, celebrated on May 29, aims to raise awareness among citizens, companies, organizations, and state entities of the need to develop sustainable energy efficiency strategies, fostering a more sustainable use of resources.
Sustainability and environmental protection are one of the priorities in business management, translating into a more efficient energy transition.
In Portugal, according to PORDATA data, final energy consumption amounted to 15.2 tep (million tons of oil equivalent) in 2020, with approximately 4.5 tep attributed to consumption in the industrial sector and 2.1 tep in the services sector. Comparing with data from 1990, the industrial sector maintained energy consumption levels while in services consumption more than tripled in the same time period. This means that 43% of energy consumption in Portugal comes from these two sectors, with an increase in the level of energy dependence.
It is in this context that the need arises to analyze potential energy risks associated with real, potential losses or opportunity costs arising from excessive dependence, lack of management of alternatives, or implementation of legally required energy efficiency procedures. Added to this list is the risk of products not being in line with legal requirements and/or sustainable development guidelines.
The analysis of energy risks and their strategic management have never been as necessary as they are now, both to minimize losses and to contribute to the goals set by the various agreements signed between the countries of the European Union. In 2020, Portugal was in 5th place in the table of Contribution of renewable energies to final energy consumption, when compared to the other EU countries, with 34% of final energy consumption derived from renewable energy sources.
The search for sustainable energy consumption also triggers new measures to combat the reputational risk that the company, in the definition of its business, is not able to meet the challenges of sustainable development of local populations, leading to an erosion of the brand’s reputation and loss of differential against the competition. After all, consumers are aware of the need for green alternatives to current energy sources, and this view of modern society has an impact on the image perceived by different audiences. It is up to each of us, citizens and organizations, to change our consumption habits and invest in new innovative methods, contributing to a more sustainable lifestyle. Analyzing, managing, and preventing energy risks is one of the fundamental steps in the long journey that organizations have ahead of them in the fight for a greener market and society.