How Technology Helps Utilities Serve The Planet And Their Customers

By Marne Martin, President of IFS Service Management Business Unit

We are all global citizens who love our planet and rely upon electricity and fuel to power our lives. We see the increase in renewables, but also an ongoing reliance on conventional fossil fuels. Utilities will play an important role in how we manage the world’s transition to a sustainable energy future.

In years past, utilities often tracked and reported company performance based on statements of income, financial position, cash flow, market price, and dividends. Things have changed, not only in customer expectations, but also in what the market and shareholders seek.

Today, there is an expectation from all stakeholders, i.e., customers, investors, and employees, that executive leaders must also be accountable for non-financial factors. Along with annual reports, we have Environmental, Social, and Governance (ESG) reports to track our progress and help us identify how we can do better.

The role of utilities in fighting climate change

Utilities rely on digital transformation and innovation to measure business outcomes from investments and change management efforts. Doing better on the environmental front offers additional and more mea