This study aims to study and summarized the some best practices and initiative of corporations towards energy management and its role and contribution to sustainable development. This study also intends to highlight the deficiencies in formulating the energy policies and setting goals in order to improve the living standards of humans and contribution into sustainable development Energy management is one of the contemporary challenge, this study adopts an exploratory approach purely based on existing literature review on energy management, efficiency and best cost reduction methods adopted by organizations and this clearly demonstrate the need to follows a systematical approach to achieve sustainable development. Findings of this study point out that planning for energy management and its utilization is as important as energy is essential for development of sustainable factor like social, economic and environment. Developing smart approach is inevitable to meet the demand of future generations. Achieving noteworthy energy efficiency by management practices makes practical business strategy for any organization and sustainable development is basis on four pillars social, economic, environment and energy sources management.