Opinion: Why Energy Conservation should be the Cornerstone of your Low Carbon Objectives.

ANDREW COOPER, ENERGY SPECIALIST, NEW GOLD

2021 appears to be the year of net zero and carbon neutral position statements. Do you realise that it is going to cost you even more to achieve your low carbon objectives if your strategic plans are not built on a cornerstone of energy conservation?

Why? Because energy conservation eliminates energy waste. Energy waste is a cunning adversary which slowly, but surely, eats away at your profits. A little over a month ago, I put an item I planned to return to the store in an “obvious place” where I could not miss it. Guess what? After a couple of weeks, it became part of the furniture. It was hiding in plain sight and I forgot about it. Energy waste is like that.

From the small and seemingly insignificant, lights left on and compressed air leaks for example, to the large and ignored, like conveyors left running or vehicles idling, energy waste hides in plain sight. Each instance costs you money and these instances add up. In fact, this waste can account for up to 10% of your annual energy expense. For a mining company, where energy is typically the second biggest expense after employee salaries and benefits, waste elimination positively impacts profitability.

As you transition to a low carbon future, there are additional financial benefits. If you are not wasting energy, you reduce the cost of achieving your low carbon objectives. Why? Because you will only install the renewable energy or purchase the carbon offsets you actually need. Why squander your money on wasted energy?

Implementing an energy management system needs to be the first step in your strategic plans for a low carbon future. ISO 50001 and the Mining Association of Canada’s Toward Sustainable Mining (TSM) Climate Change Protocol are two internationally recognised systems. There are many other systems out there. Do your research, pick one that works for you and implement it.

Remember the importance of energy conservation. Without this cornerstone, the transition costs to achieve the low carbon proclamations in your public position statements are going to be greater than they need to be. The bottom line is… Energy Matters!