Post Covid-19, a more conscious consumer will drive a change in the priorities, which has implications for the Construction industry and specifically MEPH providers.
2021 has seen a seed change in home and business environments, where emphasis and importance resultant from the global pandemic and its full effects have taken its toll on societies' economic and social priorities. Without getting into the political or social narrative that we are subject to everyday in commerce, the social dealings between people have been subject to unprecedented change in priorities, not just working from home. The business landscape is changing, and the emergence of Environmental, Social and Governance (ESG) will become more prevalent in our thinking as consumers and as businesses. It is here the Redmond Group has been planning their MEPH perspective, and this has shaped our newly published vision for the group: Stephen Redmond MD states;
"Innovation is at the heart of our company philosophy, and we remain agile and flexible to adapt to changing market demands; in fact, it forms an inherent part of our vision statement: To bring innovative, creative and practical solutions to a building's MEP delivery for optimal cost, comfort, and environmental efficiency"
Procurement departments will want to know they are working with a supply chain that understands its importance and makes strides and efforts to improve their relationship with each of these areas. Particularly carbon reporting per contract.
Traditionally buyers' approach, first and foremost, PRICE, followed by PERFORMANCE then QUALITY. Arguably, we will see the change driven by the customer where SUSTAINABILITY has come to the top of the agenda. To what extent will be determined by visionary buyers who understand the importance to act now and that Sustainability does come with additional cost. However, will PRICE be equalled by Sustainability and then PERFORMANCE and Quality? We shall have to wait to see, but government legislation will dictate at some stage in the future if we as an industry don't take action, and now is the time to act.
Consumer pressure changes markets. For example, the change happened in B2C markets, where consumers voted with their purchases for improved food sourcing, i.e. the emergence of organic, grower direct to now sustainably sourced has come to the fore carries a small price premium which is accepted and understood.
Consumer pressure will effect B2B (construction and building developers) where they vote with their purchases, as exampled by ESG and carbon reduction understanding will become a critical factor for the MEPH market. The Sunday Times feature (21/02/21) highlighted that investors, stakeholders, and the Global Green Finance community drive ESG, Sustainability disclosure, and the customer's customer will determine the change in importance.
With this in mind, the Redmond Group has aligned with Planet Useful, a consultancy based environmental building practice that assists with initiatives to bring renewable energy and a decarbonisation strategy to the MEPH market. Clive Smith of PlanetUseful.com commented,
'the market is changing at pace and legislation, and carbon emission target reporting will become as important to the SME sector as is already legislated for larger corporates"
Assisting Redmond Group is a great opportunity to influence and manage change; together, we design and develop a 20+ year roadmap to manage and mitigate the risk of investment in new energy technologies. The mission is to present decarbonising strategies for Redmond Group MEPH customers in the property sector that won't cost the earth.' To hear more and align your contract opportunities for an improved carbon footprint, why not email the Redmond Group at firstname.lastname@example.org We are excited to help customers on this journey to net-zero and make a difference in our communities.