Post Covid-19, a more conscientious consumer will drive a change in priorities which has implications for the construction industry and specifically MEPH providers.
2021 has seen a fundamental change in home and business environments, where emphasis and importance resultant from the global pandemic and its full effects have taken a toll on society’s 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 changes 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 both as consumers and as businesses. It is here that 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 MEPH 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 have in mind, first and foremost, PRICE, followed by PERFORMANCE, then QUALITY. Arguably, we will see a change driven by the customer where SUSTAINABILITY has come to the top of the agenda. To what extent this will happen will be determined by visionary buyers who understand the importance of acting now and that SUSTAINABILITY does come with additional cost. However, will PRICE be equaled by SUSTAINABILITY and then PERFORMANCE and QUALITY? We shall have to wait and 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. This has happened in the B2C market, where consumers have voted with their purchases for improved food sourcing despite a small price premium which is acceptable and understood; this can be seen with the emergence of organic, grower direct, and sustainably sourced food.
Consumer pressure will affect B2B (construction and building developers) where they vote with their purchases, as exampled by ESG and carbon reduction. Understanding consumer drivers will become an ever more 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 commented, ‘the market is changing at pace. Legislation, and carbon emission target reporting will become as important to the SME sector as it 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, 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. Please view our online Redmond Group corporate brochure to find out more about our work over the last three years to support the United Nations Sustainability Development Goals.