In a world where unsustainable practices harm the environment, cheap, uninterrupted power supply is no longer available, and businesses face mounting challenges, finding an energy transition solution becomes imperative.
In this episode of the Predictable B2B Success podcast, we had the privilege of having Gareth Evans, CEO and co-founder of Vector, as our guest. Gareth’s wealth of knowledge and experience in navigating the complexities of the energy transition left us inspired and hopeful for a brighter, sustainable future.
From shedding light on the dire consequences of limited power access to discussing the immense benefits of on-site energy solutions, Gareth reveals how this monumental shift in the energy landscape is poised to reshape businesses and communities as we know them.
Join us as we unravel the insights Gareth shared on the need for educational initiatives, the role of sustainability in profitability, and the untapped potential for businesses to embrace this exciting energy transition. Get ready to embark on a journey of discovery and unlock the boundless opportunities that lay ahead!
Watch the episode
About Gareth Evans
Gareth Evans, CEO and co-founder of Vector, an energy transition platform. Gareth is an experienced professional in the energy engineering industry. He worked for one of the largest firms in the world, WorleyParsons, specifically in their Iraq division during the aftermath of the 2nd Gulf War.
Gareth’s role involved supporting major oil and gas companies as they entered the region. Living on a US Army base in Basra, he and his team were responsible for conducting environmental, social, and community liability assessments before the companies set up operations. Gareth and his team were the first Westerners on the ground in this area. Witnessing the tremendous potential of the oil and gas reserves being unlocked, Gareth realized energy’s vital role in driving businesses and economies. This realization further fueled his passion for the industry and the positive impact it can have on communities.
Transforming Business through Sustainable Energy Solutions: Insights from Gareth Evans
The global energy landscape is rapidly evolving, and businesses increasingly recognize the importance of sustainable energy solutions for long-term success. In a recent Predictable B2B Success podcast episode, host Vinay Koshy welcomed Gareth Evans, CEO and co-founder of Veckta, an energy transition platform. Gareth shared his expertise on the challenges and opportunities of the energy transition, emphasizing the need for businesses to embrace sustainable practices, increase energy efficiency, and explore on-site energy solutions. This blog post provides a comprehensive summary of the episode, highlighting key insights shared by Gareth Evans.
The Impact of Energy Disruptions:
The discussion highlighted how energy disruptions affect daily life and business operations. Many regions suffer from limited power supply, leading to significant consequences such as compromised living conditions, disrupted education, transportation challenges, and decreased access to water. Gareth shared his first-hand experiences where locals resorted to extreme measures to feed their families and afford energy solutions. The conversation emphasized the critical role of reliable, affordable, and secure energy in fostering success and addressing societal challenges.
The Role of Businesses in the Energy Transition:
Gareth stressed the importance of engaging all stakeholders in the energy transition. He highlighted the need for visibility into considerations, options, return on investment, project lifecycle, and value creation. Businesses must embrace technology, such as executive dashboards, to support decision-making at different levels of the organization. Gareth also emphasized the opportunity for industry leaders to drive change, attract talent, and communicate success stories. As sustainability becomes an expected standard, the importance of change management and education in sustainable practices must be considered.
Education and Overcoming Confusion:
The conversation shifted toward the challenges faced by business leaders in understanding and implementing sustainable practices. Gareth acknowledges that education is crucial in helping businesses overcome confusion and adopt efficient and cost-effective sustainability efforts. Early adopter businesses implementing sustainable solutions are already reaping the benefits, and their success stories inspire others. Building trust among business leaders by celebrating commitment to sustainability and sharing progress is essential, thus encouraging more businesses to embrace sustainable practices.
Avoiding Greenwashing and Ensuring Real Impact:
With the growing focus on sustainability, some businesses have been accused of greenwashing by merely offsetting carbon emissions without taking tangible action. This practice has led to skepticism among consumers and stakeholders. Gareth stressed the need to celebrate businesses that make commitments, even if they may seem unattainable initially. Technological advancements and progress made through action can pave the way for achieving those ambitious goals. Businesses must strike a balance between profitable operations and meaningful sustainability efforts.
On-Site Energy Solutions:
As the CEO of Veckta, Gareth Evans specializes in on-site energy solutions for businesses. He highlighted the importance of reducing energy consumption through energy efficiency measures before generating and storing energy on-site. To navigate the information asymmetry between energy buyers and suppliers, Gareth recommended taking an independent and solution-agnostic approach to find the optimal energy solution for each business. Veckta’s platform enables enterprises to create proposal requests and receive competitive bids from suppliers, empowering confident decision-making. Monitoring and verifying asset performance is essential to ensure the supplier meets the business’s interests.
The Business Case for Sustainable Solutions:
Gareth emphasizes that sustainable practices do not hamper profitability but lead to positive outcomes. He encourages businesses to approach sustainability smartly and purposefully by partnering with the right long-term solution providers. Taking advantage of incentives and funding options can help businesses implement sustainable solutions at a reasonable price. Gareth also highlights the importance of mining companies adopting sustainable practices to meet the increasing demand for minerals, metals, and precious commodities. The circular economy and responsible sourcing practices can create value and minimize the environmental impact of mining.
The Path Forward:
The energy transition applies to every business, but the pace of action may vary based on geographical factors and utility models. Power outages, increased energy rates, and aging infrastructure pose significant challenges for businesses worldwide. Gareth highlights three key business pain points and opportunities: managing costs, ensuring energy reliability and security, and reducing emissions. Companies can access the right energy solutions that align with their goals by simplifying the complex market and providing education. Capital providers can be crucial in covering upfront costs and offering energy at a lower price than traditional utilities.
The Positive Business Impacts of Sustainability:
Implementing sustainable infrastructure can result in significant cost savings, with potential savings of up to $1,000,000 over 20-30 years. Moreover, companies that have reduced their emissions have seen a 27% increase in market capitalization compared to those that have increased emissions, according to research by MSCI. Embracing sustainability can attract talent, win customer contracts, and increase profitability. Businesses with sustainable development strategies may find accessing cost-effective capital in the market easier. Thus, implementing sustainable practices is not only responsible but also an attractive business proposition.
Navigating the Energy Transition: Insights from Gareth Evans on Building Sustainable Solutions
In a world plagued by power outages, unreliable energy sources, and rising concerns about environmental sustainability, businesses are increasingly realizing the importance of embracing the energy transition. Let’s look at opportunities associated with sustainable energy solutions and actionable takeaways for businesses.
Understanding the Impact of Power Outages:
Evans raises awareness about the dire consequences faced by individuals living in areas with only a few hours of power each day. While those with financial means can invest in diesel generators, the majority have no choice but to contend with prolonged power outages. Evans emphasizes how the lack of energy affects crucial aspects of daily life, including living conditions, food preservation, education, access to water, and transportation.
The Role of Energy Infrastructure in Business Success:
The discussion highlights the significant role that reliable and affordable energy plays in the success of businesses and communities. Evans stresses the importance of making energy platforms accessible to all stakeholders in the business, providing visibility into considerations, options, return on investment, project lifecycle, and value creation.
Driving Change and Educating Others:
Evans identifies an opportunity for the energy industry to engage in change management and promote education and information sharing about the energy transition. He believes that consultants and progressive leaders can drive change, attract talent, and communicate successes. As sustainability becomes the minimum expectation for future generations, the need for change managers may dwindle, leading to a workforce that naturally embraces sustainable practices.
Overcoming Challenges in Sustainable Practices:
One major hurdle Evans identified is the challenge business leaders face in understanding sustainable practices. To address this, the industry aims to educate and provide valuable content to overcome confusion and promote efficient and cost-effective sustainability efforts. By showcasing successful case studies, businesses can build trust among their leaders and encourage adopting sustainable practices.
1. Prioritize Energy Efficiency:
Before considering on-site energy generation, businesses should focus on reducing energy consumption through energy-efficient practices. This step allows for optimal utilization of energy resources without unnecessary waste.
2. Utilize an Independent Approach:
When exploring energy solutions, take an independent and solution-agnostic approach to find the optimal solution for your business. Consider leveraging platforms like Vector that allow you to create proposal requests and receive competitive bids from suppliers, enabling confident decision-making.
3. Monitor and Verify Asset Performance:
To ensure that the chosen energy supplier meets the business’s interests, monitoring and verifying the performance of energy assets is crucial. This step ensures accountability and enables necessary tweaks or changes to improve performance.
4. Embrace Financial Options:
The energy transition involves upfront costs, but businesses can leverage financing systems and energy-as-a-service contracts to make sustainable solutions more affordable. Additionally, market incentives have made on-site energy systems highly competitive and attractive in pricing.
5. Engage in Responsible Mining:
As the demand for minerals and precious commodities grows with the energy transition, mining companies must adopt sustainable practices in extraction, maintenance of assets, and community engagement. Sustainable mining practices are key to ensuring a responsible energy transition.
6. Embrace the Circular Economy:
Repurposing assets for different use cases that don’t require the same level of capability can create value within the energy transition. Adopting the circular economy approach helps minimize waste and ensures sustainable management of resources.
7. Educate, Simplify, and Access the Right Solutions:
The energy market can be complex, so businesses must prioritize education and simplification to effectively access the right energy solutions. Utilize platforms and resources that bridge the information gap and empower businesses to make informed decisions.
Gareth Evans’ insights on the energy transition shed light on businesses’ challenges and opportunities to achieve sustainable practices. Businesses can navigate this transition by prioritizing energy efficiency, taking an independent approach, monitoring asset performance, embracing financial options, engaging in responsible mining, and adopting the circular economy. With education, simplification, and access to the right solutions, companies can achieve sustainability, attract talent, win customer contracts, increase profitability, and thrive in an ever-changing business landscape. The time for sustainable solutions is now, and the rewards are significant for those who embrace the challenge.
Some areas we explored in this episode:
- The impact of power outages on people’s lives in areas with limited access to electricity.
- The importance of reliable, affordable, and secure energy.
- The current challenges in the South African energy grid.
- The role of technology in supporting decision-making in the energy sector.
- The need for change management and education in driving the energy transition.
- The challenges in understanding sustainable practices for business leaders.
- The benefits of early adoption of sustainable solutions for businesses.
- The importance of building trust through success stories in promoting sustainable practices.
- The role of on-site energy solutions for businesses.
- The potential profitability and positive outcomes of sustainable behaviors for businesses.
Listen to the episode
Related links and resources
- Check out Veckta and their podcast
- Learn from Sharekh Shaikh – From Fraud to Quality: How to Use Trusted Market Research Environments to Drive Growth
- Learn from Simon Mainwaring – Collaborative Leadership: How to Lead With We to Drive Sustainable Growth
- Learn from Rich Edwards – How to Use Data And Personalization To Drive Growth in Financial Services
- Learn more from Lyn Christian – Leveraging Strengths And Personal Growth: How to Create Predictable B2B Success
- Learn from Hadi Radwan – How to Drive Growth And Harness Technology to Solve Unmet Challenges
- Discover more with Pamela Wilson – How to Invest in Content Creation to Find ROI And Drive Growth
Connect with Gareth
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