As business owners, many of us believe environmental responsibility, sustainability and efficiency produces goodwill among customers, suppliers and community. What we know for certain is that for our operations to remain profitable, viable and, yes, sustainable, for very long, environmental efforts must provide business value.

Most executives struggle to balance environmental sustainability with corporate profitability. In fact, we often overlook what’s right in front of us. In this case our offices and factories, which possess one of the most significant opportunities to improve our bottom lines.

What's most compelling are the actual savings that can be realized through energy efficiency solutions for our existing commercial and industrial buildings, which consume the most energy in North America. Every dollar an executive or building owner saves in overhead, such as energy expense, is equivalent to three dollars of revenue.

Be forewarned, however, a “silver bullet” does not exist to achieve profitable and sustainable operations. Typically, energy efficiency derives from a series of coordinated steps based on the value each provides to a business. Some steps may have a short payback. Some may have longer paybacks, but still produce substantial energy and cost reductions. The key to success combines efficiency measures in a way that adds value to the business over the entire life of the investment.

Yet, less than one percent of all commercial and industrial companies use advanced technology to measure and manage energy spending. Nearly all companies, however, use advanced technology to measure and manage telecommunications spending. In other words, companies will scrutinize employee cell phone bills while completely ignoring wasted energy at 100 times the cost.

There are many ways for businesses to improve the environment. But rarely will these efforts also lower operating costs and create competitive advantage. As business owners, we should not overlook the opportunity to improve our economic and environmental sustainability through more efficient management of our buildings and operations.

Studies show energy management is the quickest, cheapest, cleanest way to extend world energy supplies, and it can provide four times the environmental impact of renewable energy, at a fraction of the cost.  According to a study conducted last year by McKinsey & Co., the United States could reduce energy costs by $1.2 trillion by 2020 by investing $50 billion per year in energy efficiency.

While alternative energy projects, such as solar, geothermal, wind and biomass are certainly sustainable and provide for interesting headlines, the fact is our existing portfolio of buildings and structures hold the key to meaningful energy efficiency and sustainability improvements.

Businesses are winning on the economic and environmental fronts, right here, right now, through the use of building efficiency technologies. Every day businesses reduce demand for energy, lessen environmental impact, lower operating costs and improve bottom lines using the same effort and investment.

The biggest barrier, however, seems to be lack of understanding by many who own the buildings and the companies — especially small to mid-sized businesses —  with the most opportunity to benefit. One survey of hundreds of business executives, for example, found: 87 percent have room to improve on energy management, 74 percent do not have a handle on energy cost and 59 percent are not well-positioned in house to control energy.

My advice for Wisconsin business and government leaders is to recognize and act upon the knowledge that we already hold the keys to our economic and environmental futures. This is not to say we stop pursuing advancements in alternative energy sources. It is imperative that we continue to pursue innovative materials, resources and technologies that will reduce our dependence on fossil fuel. Just realize that investment in technology to improve building efficiency is the key that unlocks numerous, significant opportunities to save energy, cut emissions and improve profitability.

Paul Oswald is president of Environmental Systems Inc. headquartered in Brookfield. For 25 years ESI has provided energy efficiency solutions for leading companies across America. Visit ThinkESI.com for more information.