“It is clear that industry leaders are focused on improving their financial performance, and they’re doing it in part by reducing their environmental impact,” says Michael Nark, CEO of Prenova. “Every large retailer who responded had a formal sustainability strategy in place, and steps designed to control costs by reducing energy consumption were critical to their plans.”
Survey results reveal which practices companies are adopting to save the most money. Over 73 percent of respondents are replacing outdated lighting with more energy efficient systems. Approximately 65 percent are evaluating energy management technologies, including smart meters, and 47 percent are conducting onsite energy audits. Moreover, 52 percent of leading companies regularly audit their utility bills to make sure they aren’t being overcharged.
The results of the survey also reveal how large retailers take pride in their sustainability efforts, revealing that 65 percent of retailers with more than 1,000 stores feel they are better than their competitors at implementing sustainable business goals. By contrast, only 44 percent of smaller retailers feel the same.