A new partnership between Mitie and Sustainable Development Capital LLP (SDCL) is helping public and private sector organisations roll out large-scale decarbonisation and energy efficiency projects for their estates.
Through the partnership, Mitie and SDCL which invests in energy efficient and decentralised energy projects, will assist organisations seeking capital investment in machinery that delivers environmental benefits – including photovoltaic (PV) panels used for generating renewable energy on site, and air and ground source heat pumps that switch buildings from gas to electricity-based heating systems, achieve decarbonisation, and improve energy efficiency.
Half of the finance executives polled for Mitie by Verdantix in a June 2021 survey identified limited expertise as a major obstacle to businesses investing in decarbonisation, with just over a third (34 per cent) citing poor access to capital as the principal barrier, and the new partnership aims to remove both roadblocks to assist organisations on their journey to net zero.
Mitie will use its engineering and energy management expertise to help customers manage their sustainability projects from end to end, starting with the auditing of sites to collect baseline energy consumption and carbon emissions data to identify the right solutions for each building. Mitie will then use this roadmap to help its customers procure, install, and maintain the equipment to decarbonise and make sites more energy efficient. SDCL will selectively provide capital to fund the delivery and installation of the solutions identified by Mitie, so that organisations aren’t encumbered by large upfront capital investments. SDCL will maintain long-term ownership of the projects, making them available for use under an energy services agreement.
Pradyumna Pandit, Managing Director, Energy and Sustainability, Mitie, says: “Tackling the built environment is essential for decarbonising Britain. There are many technologies available today that are proven to help businesses reduce costs and carbon emissions from their sites, however large upfront capital costs mean that many are delaying their actions towards reaching net zero.
“This partnership with SDCL will help more businesses overcome these challenges and go further, faster towards their net zero transition while ensuring their operational costs stay on track.
“We look forward to using our energy management and engineering expertise to help customers with every aspect of their decarbonisation journey.”
Jonathan Maxwell, CEO and Founder of Sustainable Development Capital LLP, adds: “Investing in decentralised and efficient energy solutions can contribute to over half of global carbon emission reduction targets by 2030. Onsite energy and energy efficient measures are commercially and technologically proven and capable of implementation at scale today.
“SDCL has worked with Mitie for many years and is pleased to be entering into a partnership to provide cheaper, cleaner and more reliable energy solutions to businesses.”
Mitie offers a wide range of sustainability services, enabling businesses to take a holistic approach to sustainability. Decarbonisation projects can be designed to help organisations make the most out of the funding while ensuring that they can be incorporated into their wider net zero strategy, covering fleet, waste management and landscaping.
The new initiative is part of the group’s “Plan Zero” commitment to reach net zero for its operations by 2025 and to help its customers implement solutions to reduce their carbon emissions. Mitie has helped customers cut over 353,000 tonnes of carbon, the equivalent to around 11 times Mitie’s own annual emissions, in the last decade. Mitie has also announced that it will be rolling out solutions to decarbonise four of its properties by the end of the Financial Year 2022 and to make an additional 14 sites net zero every year until all its portfolio of more than 50 buildings have been decarbonised.
Eligibility for the SDCL programme will be assessed on a case-by-case basis, and organisations interested in receiving additional information should visit www.planzerocarbon.com.