Overview:
Sustainable technology is one of the key tools a company needs to lower emissions, shrink carbon footprints and reduce the environmental impact of operations.
Sustainable technology encompasses a broad range of innovations and practices aimed at meeting present needs without compromising the ability of future generations to meet their own needs.
The goal of sustainable technology is twofold: to produce new technologies using sustainable processes and materials, and to use technologies to address environmental, social and governance (ESG) issues.
Redefining progress for a green future:
Companies can also use sustainable technologies to reduce their carbon footprint. For instance, they can leverage artificial intelligence (AI) to run diagnostics and determine what areas of their business produce the most waste.
With those insights, they can then use carbon accounting to identify opportunities to reduce their greenhouse gas emissions or advocate for adopting renewable energy sources.
Companies can leverage technology solutions like the Internet of Things (IoT) to optimize routes and make fleet management more sustainable.
Similarly, an organization’s procurement department can operate more sustainably by tapping into a growing ecosystem of digital technologies like AI and the cloud to automate and optimize purchase order management.
Designers can embed sustainability into their software development strategies by making sure that the user, community and social value outweigh any negative environmental or social impact of the software.
In healthcare, electronic health records (EHRs) are used to obviate the need for paper documentation, while also making the information far easier to transmit between healthcare providers. Telemedicine, remote appointments held over the phone or a webcam, naturally result in lower carbon emissions — even if an over-reliance on them is itself contentious.
The fashion industry is also making good use of sustainable tech. There are virtual try-on services, which can dramatically reduce returns and waste. These virtual representations of clothing can also be used in the retail buying process, avoiding the need to so many physical samples to be ferried about.
Industry examples:
Sustainable technology is a dynamic and diverse market, which reflects growing awareness of environmental issues and increasing demand for sustainable solutions across various industries.
Google has invested heavily in renewable energy, aiming to operate on 100% renewable energy for its global operations. It develops energy-efficient data centers and invests in innovative sustainability projects, such as its moonshot initiative to develop breakthrough technologies for address climate change.
Siemens develops a wide range of sustainable solutions across various industries, including energy, transportation, healthcare and manufacturing. It produces energy-efficient technologies such as wind turbines, smart grid systems, and energy management software.
Apple aims to power its global operations with 100% renewable energy and become carbon neutral by 2030.