Tim McManan-Smith and Damir Ahmovic, President – Europe of energy consultancy Trio discuss the evolving role of sustainability practices within global companies, especially in the context of decarbonisation and net-zero targets
The growing emphasis on sustainability has pushed companies to develop systems that manage and report on their global environmental impacts explains Damir. In response, Trio* launched earlier this year to unify three brands (Edison Energy, Altenex Energy, and Alfa Energy) under a single global brand, expanding its services to meet the demands of global clients who need to manage their sustainability efforts across different regions.
To achieve this, Trio’s approach is centred on meeting clients wherever they are on their sustainability journeys, and mapping out actionable, integrated plans that align with their strategic, financial, and sustainability goals.
“Even in many large organisations, a lot of time and work is required to align their resources internally and ensure that sustainability teams are linked up with financial planning. We find out that in many cases, organizations need a more comprehensive strategy to reach their sustainability commitments,” says Damir. “And this is when we partner with our clients to help them create an implementable plan of solutions that they can follow based on the known knowns, although there are still unknowns in the path forward. We still don’t know the commercials behind the implementation of hydrogen and many other new schemes that are developing.”
Integration of sustainability and energy strategies
Damir says that energy and sustainability can no longer be considered separately, emphasising the need to create an integrated strategy to help clients meet their business objectives. For example, energy efficiency programs, onsite solar generation or battery storage can be funded through savings in energy procurement. However, the challenge remains that these energy savings are subject to market fluctuations, which can undermine long-term planning. Trio advises companies to think strategically about both operational costs and investment in energy efficiency measures.
The consultancy also provides a client-facing technology platform that integrates various services, from conventional energy supply management to renewable energy projects. While sustainability reporting, particularly around Scope 3 emissions, remains complex and requires third-party vendors to manage data ingestion, the technology helps clients visualise and standardise their sustainability data across regions.
Three pillars of sustainability practice
Trio’s sustainability services are divided into three core areas:
- Navigating Sustainability Frameworks and Programs: This includes ensuring that clients meet mandatory and voluntary schemes, such as the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS).
- Strategy and Implementation: This area focuses on helping companies craft actionable sustainability strategies. Many companies have found that their initial plans need to be strengthened and refined once they have more clarity around budgets and potential pathways to achieving their sustainability goals., The consultancy assists in creating comprehensive, implementable roadmaps that align with companies’ financial and operational structures.
- Supply Chain Engagement: As supply chain emissions (Scope 3) can account for up to 95% of a company’s overall emissions, this pillar involves helping clients decarbonise their supply chains and address product carbon footprinting challenges.
Client engagement and growing demand
Trio has seen a noticeable uptick in demand, with more clients now approaching them for help in navigating the complex sustainability landscape. The consultancy works closely with clients to create strategic plans, prioritise actions, and implement solutions that move them to a proactive stance, aligning operational and capital expenditure (OpEx and CapEx) to meet interim sustainability targets.
“Our energy advisory team works with our clients to assess the opportunities, create the roadmap, look at the cost and rank them based on their feasibility, comparing opportunities on an ROI basis. The whole purpose is that we move companies to a proactive mindset of strategic planning and implementation,” says Damir.
Energy procurement and PPA solutions
The consultancy helps clients navigate energy procurement strategies, including advising on power purchase agreements (PPAs), which can offer flexibility and long-term cost savings. While some clients are able to independently commission renewable energy projects, Damir notes that others may leverage retail PPAs or certificates to offset their emissions.
A significant aspect of the consultancy’s work involves renewable energy projects, particularly PPAs. The principle of “additionality” requires that new renewable projects are commissioned to meet decarbonisation targets. However, the financial risks and scale of these projects can make them difficult to implement for clients with lower energy consumption. For lower-consuming clients, the consultancy explores options such as environmental attribute certificates (EACs).
Regional adaptability and global reach
Trio’s client base spans North America, Europe, and beyond, with a focus on adaptability to regional structures. For example, US-based global clients prefer a single point of contact, while European companies often delegate decisions regionally. The key challenge is navigating different market dynamics and ensuring that sustainability reporting is consistent and aligned with global objectives.
The unification of Edison Energy, Altenex Energy, and Alfa Energy to form Trio has been instrumental in attracting new clients, particularly global companies looking for a single partner to help them with synchronized, global sustainability strategies. The ability to streamline reporting and data collection across regions has been crucial in addressing the need for consistent, transparent sustainability reporting.
Damir concludes by highlighting the growing urgency for global companies to align their sustainability practices with overarching net-zero objectives. However, many companies still need to strengthen the internal alignment necessary to effectively execute these strategies. Despite this, there is broad agreement at the top level that action is needed, and the consultancy’s role is to support tactical implementation through clear, actionable plans backed by data-driven insights.
“The question is how those companies can accurately report that progress towards their sustainability commitments,” says Damir, “And that need is driving companies to try and find one partner who can help accelerate their sustainability journeys and support them globally so they can have a synchronised view on what is happening with their organisations.”
*Launched in North America in 2016, Edison Energy began operating in Europe as Altenex Energy in 2020. Alfa Energy began operations in the UK in 1995, later expanding into numerous countries in Europe. In October 2022, Alfa Energy joined the Edison Energy group to provide integrated sustainability and energy advisory services to clients across North America and Europe.
