In partnership with Schneider Electric, Blackstone translates energy and sustainability data into business benefits.
Case Study: Blackstone's Sustainability Upside
Contributed by | Schneider Electric
Blackstone is one of the world’s largest private equity firms, managing over $365 billion in assets, with a portfolio that spans multiple industries and borders.
To stay ahead in a competitive market, Blackstone looks for every opportunity to save, and is quick to move and capitalize on smart investments.
So when Blackstone turned its attention to the mounting energy expenses at sites across the globe, management set out to deliver quick efficiency wins.
As Chief Sustainability Officer, Don Anderson needed rapid, consistent access to actionable resource data from each holding, regardless of location or industry.
“It’s critical to handle each region with some level of consistency. Blackstone is a data-driven organization. And I approach sustainability the same way. I have to have good data no matter the location,” says Anderson.
Obtain actionable energy and sustainability data for Blackstone portfolio companies to improve their efficiency and ROI.
Deploy a web-based energy management tool capable of collecting and displaying usage data across the entire Blackstone portfolio. Use the information to identify energy savings opportunities and negotiate optimal rates from utility suppliers.
Working with Schneider Electric, Blackstone developed an aggressive energy management strategy, which is delivering significant returns at over 20 portfolio companies and counting.
Tens of millions in energy savings over six years.
Enabling data-driven energy savings
Solutions from Schneider Electric allow Anderson to improve resource efficiency at over 20 Blackstone companies in 11 industries – from food services to hospitality.
To capture and manage energy data, Anderson relies on Resource Advisor, an energy management software platform from Schneider Electric’s Energy and Sustainability Services.
The cloud-based application normalizes energy spend data at all levels of Blackstone’s portfolio, from individual sites to regional cross sections. Anderson can then track sustainability performance improvement over time in a customizable dashboard.
Says Anderson, “For me, sustainability is best served by associating performance improvement with quantifiable savings. Resource Advisor is perfect for this.”
At the same time, the data in Resource Advisor forms the basis for ongoing energy procurement negotiations with suppliers. Dedicated consultants support Blackstone companies in obtaining energy at the lowest possible rates.
“With the largest companies in our portfolio, I put a particular emphasis on buying energy smarter. And I make sure they get the necessary support. Schneider Electric is able to compile the data quickly, help develop a strategy, and start negotiating better rates,” continues Anderson.
Resource Advisor software platform
• Compiles and consolidates energy spend data at all levels of the portfolio
• Tracks energy efficiency improvement over time
• Offers easy access to data via a web-based interface
• Displays results in customizable dashboards and formats
• Generates and automatically updates sector-specific scorecards to drive program participation across critical KPIs
• Can normalize core business data, including occupancy rates for hotels and sales results for retail businesses versus energy spend
Energy and Sustainability Services team
• Negotiates energy prices with suppliers based on Resource Advisor data
• Dedicates an individual consultant to each Blackstone portfolio company
Schneider Electric’s solutions for Blackstone
• Energy management and procurement services
• Resource Advisor enterprise energy and sustainability software
• Energy efficiency training and workshops
Linking sustainability with business results
Combined access to both energy data and procurement support generates results for Blackstone where they matter most.
“The relationship with Schneider means I get quality data early in our hold period. And I can quickly move to the real bottom line: How much are we actually saving?”
Since partnering with Schneider Electric in 2009, Blackstone has achieved tens of millions in energy savings, with more planned as Anderson rolls the solutions out across the portfolio.
Says Anderson, “Having data on past performance helps me make the case to the next company. This business approach to sustainability supports continuous improvement as we move in and out of investments.”
The content & opinions in this article are the author’s and do not necessarily represent the views of AltEnergyMag
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