Bringing Business and Societal Impact Together in an Evolving Energy Sector

Abstract

As the challenges associated with sustainability, urbanization, life quality and demography become more imminent, companies are adapting to the changing requirements by means of revised strategic approaches. Thus, enterprises are increasingly deviating from the traditionally absolute priority of maximizing total return for shareholders. While this priority is still important, businesses are also looking at the total societal impact (TSI), which represents a collection of measures and assessments that incorporate the economic, social and environmental impacts of their products and services [1]. This paper focuses on the compound influence that TSI may have within the energy domain. In particular, the business opportunities resulting from the Horizon 2020 funded project INVADE are being discussed but seen from the perspective of a socially responsible corporate strategy. Referring to discussions, analyses and undertaken initiatives this paper concludes that business models which incorporate environmentally friendly, local and social and fair energy are capable of accelerating business growth for the concerned companies.