- Changing Sustainability Perceptions
With innovative technology and services at every level of the organization, Blackstone developed an aggressive and sustainable energy-management strategy, which is paying dividends at over 20 portfolio companies and counting.
The Challenge• Blackstone is one of the world’s largest private equity firms, managing more than $365 billion in assets. To stay ahead in a competitive market, the company looks for every opportunity to save and is quick to move and capitalize on smart investments.
• Blackstone oversees operations across multiple industries and geographies – a portfolio with a sizeable energy spend.
• To manage resources and expenses, Blackstone needed actionable energy and sustainability data for the companies it owns and supports.
• “It’s critical to handle each region with some level of consistency. We’re a data-driven organization. And I approach sustainability the same way. I have to have good data no matter the location,” said Don Anderson, Chief Sustainability Officer at Blackstone.
The SolutionConnectivity and Efficiency with EcoStruxure™
Apps, Analytics & Services : Resource Advisor enterprise data management platform
Energy & Sustainability Services : Energy consulting and strategic energy sourcing
• Working with Schneider Electric, Blackstone developed an aggressive energy-management and sustainability strategy.
• Blackstone uses EcoStruxure™ Resource Advisor, a cloud-based platform that captures and normalizes energy and utility data at all levels of the company’s portfolio, from individual sites to regional cross sections.
• The technology is paired with an Energy & Sustainability Services consultant from Schneider Electric, dedicated for each site. These experts help interpret the data, and pinpoint and act on opportunities for efficiency improvements.
• Data from Resource Advisor allows Blackstone to negotiate contracts with utilities and other suppliers, getting the right source of energy at the lowest possible rates.
• The data is also used to develop sector-specific scorecards, which are automatically updated to drive program participation across critical KPIs.
The Results• Active energy management programs and collaboration at over 20 portfolio companies and counting.
• Tens of millions in energy savings from sustainability efforts and strategic energy sourcing.
• Ongoing relationships and cost reduction with companies after they have been divested.
“Having data on past performance helps me make the case to the next business,” Anderson said.