Understanding The Real Meaning Of Asset Sustainability

Is it possible to tell if a certain asset is inherently efficient within your organization

, as compared to another? We could also ask this question by determining what metrics should be used to see if the asset is viable and how it would return value against its investment. Normally we would turn to performance indicators according to usability for a specific purpose and also refer to benchmarks established by the manufacture or expected within the industry.

These days, asset sustainability is becoming more widely recognized when we are trying to place value. In short, the company has to understand how its activities affect society and the environment all around it. It is becoming time to determine the true meaning of corporate social responsibility. Without natural resources, the company cannot exist and it must be the ultimate steward of said resources.

Is it possible for a company to maximize its profit potential, while also minimizing its exposure? Certainly, this is a juggling act of immense proportions, especially as stakeholders seem to have more and more visibility into the day by day operations of the company.

Asset sustainability, as a concept, looks into the volume of energy that the company buys and uses as a part of its operation. We know that energy is responsible for carbon emissions and this, by itself, is a huge cause of concern in society. While energy is of course a scarce commodity, we also need to determine how each asset is, individually, sustainable from an energy perspective.

Assets are purchased for particular reasons and earmarked for a certain purpose by the business. In doing so, management refers to industry benchmarks and manufacture specifications to see how the asset will perform. As time goes by, we use these parameters to see whether the asset is working efficiently or not. It is not normal for us to refer to its carbon output as a true indicator of sustainability.

Asset sustainability will require a whole new approach to asset design and manufacturer. It is conceivable that such an asset may be designed to be less than ultimately efficient from a pure performance perspective in future, if such a design makes it environmentally unsustainable. This is a significant change in approach and will take some assessment.

In order to determine asset sustainability, each piece of equipment must be individually monitored, to reveal its energy consumption statistics. The vast majority of companies do not do this and in fact are only beginning to realize how their energy-related carbon footprint should be controlled by their electricity use. Behind the meter monitoring will be necessary, to see how each asset subsequently performs against its historical analysis.

We can no longer expect assets, once installed, to merely perform to expectations until they are replaced, but rather asset sustainability has more importance.

by: Daniel Stouffer.

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