Consultancy firm Ernst & Young has decided to switch off its company logo signs in order to reduce energy consumption. Multiple employees took to social media to speak about the initiative. The company is looking for more ways to reduce their energy consumption. 

The logo signs have been switched off across EY offices in Denmark, Norway, Finland and Sweden. This is one of the first in a list of steps, the employees said. 

“Because we must all do what we can to reduce our energy consumption, so there is more energy for those who will need it the most in the months to come,”  said Azad Singh, Nordic Marketing Automation Lead at EY.

This initiative comes as Europe is facing an energy crisis, an offshoot of the Russia-Ukraine war. As Europe imposed sanctions for the war, Russia reduced its supplies to the continent. European gas prices also more than doubled since the beginning of the year. It cut off gas supplies to several countries, including Bulgaria and Poland, as they refused to pay in roubles rather than the currency of the contract.

In the Shanghai Cooperation Organisation summit in Uzbekistan, Russian President Vladimir Putin said that Russia had nothing to do with the European crises, and that the EU should lift sanctions preventing the opening of the Nord Stream 2 pipeline. "The bottom line is, if you have an urge, if it's so hard for you, just lift the sanctions on Nord Stream 2, which is 55 billion cubic metres of gas per year, just push the button and everything will get going," Putin said. He, in fact, blamed the “green agenda”  for the crisis. 

Nord Stream 2 runs parallel to the Nord Stream 1. It was built a year ago, but Germany backed out days before the Russian troops were sent to Ukraine. Moreover, Russian gas giant Gazprom said that Nord Stream 1 pipeline, that is Europe’s major supply route, would remain shut due to repair work. 

Russia has been accused of weaponising energy supplies in retaliation for Western sanctions on Moscow by Europe. On the other hand, the West has been accused of launching an economic war that has impacted the operations of Nord Stream 1. 

Also read: 17% Indian CEOs claim businesses are facing pressure to become sustainable: EY report

Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today

Add Business Today to Home Screen