National Grid has received the prestigious award now, for the 7th year in a row, and is one of the only six energy and utility companies honoured by the organisation.
The Ethisphere Institute is an organisation responsible for defining and development of ethical business standards to help companies operating in various sectors optimise their operations and improve customer trust.
Timothy Erblich, CEO at Ethisphere, said: “Over the last 11 years, we have seen the shift in societal expectations, constant redefinition of laws and regulations and the geo-political climate. We have also seen how companies honored as the World’s Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion, and focus on ‘long term-ism’ as a sustainable business advantage.”
In measuring the performance of companies, Ethisphere uses its Ethics Quotient framework to analyse programmes implemented by firms to improve their ethics, corporate and citizenship responsibility, governance, innovation and reputation.
Dean Seavers, president of National Grid in the US, added: “We’ve established a workplace culture where inclusion is the air we breathe, intolerance in any form is unacceptable, and always doing the right thing is part of our DNA.”
National Grid digital initiatives
Meanwhile, National Grid in the UK has engaged in a dialogue with artificial intelligence (AI) firm Deepmind about how the company’s AI technology can be used to help the utility improve management of its grid network.
According to media reports, National Grid is planning to use Deepmind’s AI solution to balance its grid load in line with grid demand.
Demis Hassabis, Chief Executive of the Google-owned Deepmind, was quoted: “It would be amazing if you could save 10% of the country’s energy usage without any new infrastructure, just from optimisation. That’s pretty exciting.”
Deepmind claims that its AI technologies would help the utility increase its renewable energy portfolio by predicting peaks in demand and capacity required to meet peak demand requirements. [National Grid selects software provider for smart meter rollout]
In July 2016, Deepmind’s AI technology was implemented at Google’s data centres resulting in a 40% reduction in energy used for cooling systems and 15% decrease in overall energy consumption.
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