New Energy Study Finds Businesses Strongly Concerned about Resiliency but Lack Course of Action

• Harvard Business Review Analytic Services study found only one
  third of organizations have resiliency plans

LOS ANGELES–(BUSINESS WIRE)–A new study released today by Harvard Business Review Analytics
Services, sponsored and created in part by Siemens, surveyed leaders
from organizations including businesses, hospitals and higher education
institutions from across the U.S. on their efforts to address business
resiliency and energy innovation. The study was released in conjunction
with a Harvard Business Review and Siemens series in Los Angeles on
“Delivering Economic Resilience in the New Energy Paradigm.” The event
featured policy and business leaders discussing energy’s role in
broadening the L.A. region’s resilience efforts with speakers from the
Los Angeles Department of Water and Power and 100 Resilient Cities.

The study found that while businesses have strong energy-related
concerns—including power interruptions from weather-related events and
cyberattacks on power grids—the majority of organizations have yet to
embark on any significant course of action. In fact, only 27 percent of
companies said they have initiatives in place to address climate change
and even fewer have a business resiliency plan.

“The disconnect between concern and action that this study presents is
due to the fact that we’re moving into new territory. Until recently,
organizations could have these types of concerns but not necessarily the
tools to take action. But now, technology is ready to be deployed and
the economics are favorable,” said John Kovach, Global Head of Siemens
Distributed Energy Systems. “Technology offers us the opportunity to
address challenges like extreme weather by embracing decentralized
power, the on-site energy systems that can keep power running while
providing the potential for major cost savings and a greatly reduced
carbon footprint.”

“The U.S. is entering a new energy era. To meet the demands of a
changing energy landscape, organizational leaders are well advised to
add energy innovation to their skill sets,” said Alex Clemente, Managing
Director of Harvard Business Review Analytic Services.

The study also asked organizations to share their efforts to implement
decentralized energy systems and technologies to help make their
operations more resilient. The findings showed that although the vast
majority of organizations are focused on improving energy efficiency,
only about one third are generating power on-site. These business
leaders are also expecting government to provide support and leadership
and the vast majority see municipal governments as an important partner
to assure business resiliency, although very few have established any
partnerships with the government.

For access the full report, please visit https://hbr.org/resources/pdfs/comm/siemens/HBRAS.Siemens.9.25.17.pdf.

To learn more about Siemens decentralized energy portfolio, please see www.usa.siemens.com/onsite-power.

This press release and further material is available at http://news.usa.siemens.biz/.

Siemens Corporation is a U.S. subsidiary of Siemens AG, a global
powerhouse focusing on the areas of electrification, automation and
digitalization. One of the world’s largest producers of
energy-efficient, resource-saving technologies, Siemens is a leading
supplier of systems for power generation and transmission as well as
medical diagnosis. With approximately 351,000 employees in 190
countries, Siemens reported worldwide revenue of $88.1 billion in fiscal
2016. Siemens in the USA reported revenue of $23.7 billion, including
$5.4 billion in exports, and employs approximately 50,000 people
throughout all 50 states and Puerto Rico.

Contacts

Contact for journalists
Siemens
Annie Satow,
202-316-0219
annie.seiple@siemens.com