Sustainability is no longer just a buzzword, but an environmental, economic and social driver that’s changing our day-to-day lives in almost every way imaginable.
This is obvious throughout the business community in which committing to sustainable practices is no longer a ‘nice to have but a ‘must do’ as the negative impacts of climate change become more obvious and ominous, with the potential to alter everything from supply chains to profitability.
Sustainability requires transformation and most organizations are discovering how to consolidate new technologies and new measures to proceed with their social-ecological development and framework. Technology is shaping sustainability and enabling advanced levels of productivity and efficiency.
Transportation
The environmental impacts of transportation are expected to increase as the demand for travel rises, which is influenced by several factors including population and economic growth, urban sprawl, and low fuel prices. But just as the transportation sector’s environmental impact is substantial, so, too, is its opportunity to improve.
The role technological advancements can play here is vast, ranging from a more sophisticated electric vehicle infrastructure to tools for improved fleet maintenance, fuel efficiency and routing to the mainstream use of autonomous vehicles
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Digital Products & Services
Digital operations can improve business resilience; some of the processes and technologies involved even become industry standards. Schneider Electric transformed itself from an installer of industrial electrical equipment to a global leader in efficiency-as-a-service, generating revenues by reducing customers’ CO2 emissions.
Artificial Intelligence & Analytics
These technologies can generate data and insights on the environmental and social impact of a product, service, or process. Digital platforms can further integrate capabilities while sharing data and create transparency and accountability among partners.
Plastic Recycling
Plastic recycling has been the focus of industrialists and generally aware people. However, none of it comes at the expense of environmental hazards.
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The plastics industry has the opportunity now to adopt a circular model, which aims to eliminate waste across sectors while creating economic, societal, and environmental benefits. One promising circular process is pyrolysis, which uses heat and the absence of oxygen to reconvert plastic waste back into liquid feedstock. The benefits are economic as much as environmental, with a recycling-based profit pool estimated at $55 billion by the next decade.
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