Energy management systems and market value: Is there a link?

Pham, Thi Hong Hanh

doi:10.1016/j.econmod.2014.12.038

Cited by 15 publications

(11 citation statements)

References 38 publications

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Section: References Portion Of Referencesmentioning

confidence: 99%

“…Pham [65] and McKane et al [23] cited the challenge "Difficulty in properly evaluating the benefits generated by ISO 50001 adoption". For Pham [65], there was not sufficient foundation to affirm that the market value of the companies increases with ISO 50001 implementation. According to McKane et al [22], the complexity of measuring CO2 and energy savings due to ISO 50001 adoption is another important challenge to be faced by organizations.…”

Section: References Portion Of Referencesmentioning

confidence: 99%

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Challenges Presented in the Implementation of Sustainable Energy Management via ISO 50001:2011

et al. 2019

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Considering the importance of ISO 50001 in sustainable development, the objective of this research is to identify the challenges found by organizations during the implementation of ISO 50001:2011, according to the literature. To address this objective, a systematic search was conducted. Scientific papers from the following international databases were used: Science Direct, Emerald Insight, Scopus, Springer, Wiley, and Taylor and Francis. Permutations of the terms “ISO 50001” and “Challenges”, “Barriers”, “Lacks”, “Gaps”, “Obstacles”, “Problems”, and “Limitations” were searched. Following this strategy, 206 documents were found. After removing book chapters, articles from proceedings, duplicate articles, and articles that did not mention any challenge related to ISO 50001, 17 articles were left. Eleven challenges were found in these articles. The most cited challenges were: “Lack of Resources-Limitations (HR, Technologies, Infrastructure, Financial, Time)”, “Difficulty to determine the energy baseline and energy performance indicators”, “Human Resources deficiencies (competences, knowledges, and abilities)”, and “Lack of management support and/or commitment”. The challenges most cited shows the need for better planning before implementation as well as a comprehensive analysis of the organization’s requirements and features. The findings of this research show that this theme is still underexplored. The results presented can contribute to future industrial policies to potentialize countries’ economies.

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Section: References Portion Of Referencesmentioning

confidence: 99%

Section: References Portion Of Referencesmentioning

confidence: 99%

Challenges Presented in the Implementation of Sustainable Energy Management via ISO 50001:2011

et al. 2019

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“…Therefore, the assessment of certified energy management standards is considered the success of the process, according to the energy management requirements [43,44]. In the meantime, a study by Pham (2015) revealed that the adoption of ISO 50001 has quite a negative effect on the market. This result does not suggest that obtaining ISO 50001 is a bad investment [45].…”

Section: Yearmentioning

confidence: 99%

“…In the meantime, a study by Pham (2015) revealed that the adoption of ISO 50001 has quite a negative effect on the market. This result does not suggest that obtaining ISO 50001 is a bad investment [45]. To date, no guidelines can be used to measure the qualitative results of an EnMS and, thus, indicate its effectiveness and anticipated benefits in order to show the quality or sustainability levels of an organization's EnMS.…”

Section: Yearmentioning

confidence: 99%

Development of a Sustainability Index for an Energy Management System in Thailand

Nakthong

Kubaha

2019

Sustainability

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The ISO 50001 energy management system (EnMS) standard was published in June 2011 and has been widely adopted by organizations from around the world, including Thailand. From 2014–2017, there was a continuous increase in the number of ISO 50001-certified companies in the East Asia and Pacific regions and, more broadly, the world, although this is not consistent with the number of companies that emerged during this period in Thailand. This information shows that the implementation of energy management in some companies may not be sustainable. This research offers a novel method for assessing the quality of energy management in the form of an energy management system sustainability index (EnMS SI) framework, presenting the economic, organizational, energy performance, and environmental aspects of sustainable energy management. Data collection, from a literature review of related research and the EnMS good practices, was implemented in order to select sustainability indicators and further develop a sustainability index for energy management. The analytic hierarchy process (AHP) and weighted arithmetic mean (WAM) were used to establish an EnMS SI. The study results were then assessed and validated using 31 ISO 50001-certified companies in Thailand. Direct interviews and questionnaires were used to obtain responses from energy management representatives. The studied data indicated that an EnMS SI framework can be used in qualitative analyses to effectively determine the sustainability of an EnMS. Significant sustainability indicators, consisting of continuous benefits, top management commitment, and long-term strategic planning, were found. The results also revealed that the EnMS in Thailand has been significantly economically weak. The EnMS SI framework is a tool for assessing energy management sustainability, which allows for the determination of an organization’s actual strengths and weaknesses. The benefits of this framework include the possibility of determining guidelines for correcting and improving the EnMS to achieve sustainability.

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“…Through the implementation of energy saving programs, the following benefits can be achieved [1,[5][6][7][8]:…”

Section: Introductionmentioning

confidence: 99%

Methodology for the Successful Integration of an Energy Management System to an Operational Environmental System

et al. 2017

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Despite the fact that the implementation of ISO 50001 has helped organizations to successfully accomplish energy saving policies, there is still a significant disparity in the number of companies certificated under ISO 50001 compared with other standards such as ISO 14001. Considering the compatibilities between both standards, a potential sector is identified for the integration of ISO 50001 in organizations that operate under ISO 14001 systems. The cost and time associated with the development and implementation of the Energy Management System are identified as being amongst the most important obstacles, restricting the number of companies that are inclined to this energy certification. As an attempt to overcome this limitation, in this work, both standards were analyzed in detail and their coincidences identified and organized to propose a novel methodology that allows companies to naturally integrate an Energy Management System based on ISO 50001 into an ISO 14001 already in operation. The results provide evidence of a strong compatibility among the energy and environmental management systems, allowing enterprises to integrate the former with minimum investment and resources. In order to validate the proposed methodology and to demonstrate the agreement between both programs, these procedures were applied in a manufacturing company of the automotive sector, considered as a high energy consumer according to the classification made by the National Commission for the Efficient Use of Energy in Mexico.

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Energy management systems and market value: Is there a link?

Cited by 15 publications

References 38 publications

Challenges Presented in the Implementation of Sustainable Energy Management via ISO 50001:2011

Challenges Presented in the Implementation of Sustainable Energy Management via ISO 50001:2011

Development of a Sustainability Index for an Energy Management System in Thailand

Methodology for the Successful Integration of an Energy Management System to an Operational Environmental System

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