Since the emergence of the Paris Agreement, climate action has posed a complex challenge for many businesses to recognize and continues to do so. Primarily, businesses are financially motivated and are apprehensive of being fully committed towards climate action; in fear that it would incur greater costs and lead to lower dividends. However, there are strategies that exist to ensure that a business can perpetually and economically grow, whilst helping to protect the environment. In relation to energy management, these are the following steps to optimizing and monitoring energy consumption of an asset:

1. Identifying the sources of energy consumption within the asset
2. Collating all relevant utility bills
3. Analyzing the consumption data
4. Identifying opportunities to reduce energy consumption and energy costs
5. Tracking the progress of the energy profile

Fortunately reducing energy consumption, saving costs, and mitigating carbon emissions are interlinked challenges that can be resolved simultaneously by implementing smart energy management.

Over time, smart technologies and solutions have evolved tremendously and are disrupting traditional methods that are used to manage energy consumption. The ‘smart’ emphasizes the computer-based system used to monitor, control, optimize and maintain operational performances of an asset. This differentiates from other traditional and obsolete methods as it is less time-consuming and provides remote access to accurate data insight and control of an asset. Unequivocally, it can optimize operational efficiency and environmental performance, reduce energy consumption and energy costs, and mitigate carbon emissions.

These are examples of smart energy management solutions:

• Building Management Systems (BMS) – A computer-based control system with IoT-enabled, which allows remote access to a fully managed, connected building. This optimizes real-time data insight and control over electrical-consuming equipment.
• Internal air quality – With the integration of BMS, one can monitor and assess the internal conditions of a facility such as the levels of , VOCs and particulates. This can not only find opportunities to reduce these pollutants but also mitigate public health risk.

Ultimately, smart energy management serves as an opportunity for businesses to accurately determine insight of an asset’s energy profile and consumption data. This would ensure businesses not only to have the ability to reduce energy consumption but to make well-informed decisions that can sustain long-term growth, both financially and environmentally.