10 September 2022
The end of the 20th century marked the beginning of the Third Industrial Revolution, leading to the vigorous development of digital technologies for decades. However, such a rapid pace of growth only intensified the formation of the so-called consumer society and affected the planet’s ecology.
And now, when the natural resources are unprecedentedly devastated, humanity continues to teeter on the brink of collapse. According to the Swiss Re Institute report, the impact of climate change has been forecasted to be the most brutal hit on global GDP. If global temperatures rise by 3.2°C (the most severe scenario), the world economy will lose 10% of its total economic value by 2050. As a result, we will live on an extremely hot, hardly habitable, and the toxic planet.
At the moment, the whole world is focusing on the issue of climate change, but it requires a revolutionary approach to fix all aspects of such a challenge. That is why many companies worldwide aim to adopt eco-friendly technologies to make their activities sustainable.
The Concept of a Sustainable Technology
This term describes an innovation that considers the state of natural resources and accelerates economic and social development. Implementing sustainable practices may substantially reduce the ecological footprint and improve product stability.
There are three ways to define the sustainability of a particular method:
- Substitution. Businesses have prompted a shift towards biodegradable and renewable materials.
- Prevention. Innovative technology prevents negative environmental impacts through its use.
- Efficiency. Sustainable solutions make a company more energy- and resource-efficient.
Over the past decade, the problems of environmental pollution, the greenhouse effect, and ozone depletion have moved beyond the scope of scientific debate. People from different walks of life are gradually beginning to understand their actions’ impact on the planet’s health. Similarly, the founders of IT projects take on responsibility for ensuring society’s well-being.
Benefits of Sustainable Technologies for Business
Innovative solutions can transform business ways by minimizing social and ecological impacts, thereby positively affecting the profitability and reputation of the company. As a result, companies can remain competitive and compliant with environmental standards. Let’s look at some vital points of sustainable tech implementation.
Reduce Risks and Enhance Project Outcomes
When your business gives up on non-renewable resources, you are indirectly helping the world to avoid the harmful effects of global warming and climate change.
Eighty percent of companies today improve their working processes with sustainable tech. Besides, investors prefer to work with projects with excellent ESG rates, so adopting innovative approaches makes your business more attractive.
Boost Your Income
Corporate sustainability goes a long way in two things: resource efficiency and increasing profits. You help your company stay competitive and lucrative when you spend less and gain more. Nike’s multibillion Flyknit line is an excellent example of how sustainable solutions can benefit your business. Thanks to the specialized yarn system, Flyknit reduces waste by 80% compared with other production methods and requires a minimal labor force. Modern customers are aware of such processes, so they tend to be loyal to brands that follow their ethical framework. The result is obvious: repeat purchases and significant income.
Attract and Retain Top Candidates
Jeana Wirtenberg, the CEO of Transitioning to Green, said that millennial and Gen Z people believe that companies are responsible for paying attention to and acting on global issues. The younger group identifies climate change as their top concern (according to the latest Deloitte report). That is why they prefer to find jobs committed to sustainability.
Today, total digital transformation is no longer a luxurious choice but a market requirement and a long-term business strategy. With tools like hyperautomation, founders can enhance business operations and reduce expenses. Read more about this concept here.
Ways to Improve the Business Performance With Sustainable Tech
The latest edition of the WEF’s Global Risk Report declares climate change transition disorder and environmental tension as the remaining threat to the global economy. The World Economic Forum executives believe we have little time to save our planet. However, founders of tech companies can alleviate long-term environmental consequences by considering advanced ways to ensure sustainability through technology.
Cloud Computing
Cloud computing may help your business first and our planet second. For example, you can reduce paper usage within the office by storing collaborative documents in digital format.
In addition, cloud computing helps companies reduce the actual server space they need. At the same time, it results in 30% less energy consumption and carbon emissions (compared to local servers).
Internet of Things (IoT)
This clean energy technology is designed to automate business processes by combining many smart devices (sensors, gateways, cellular routers, etc.), which is critical in improving a single project’s technological sustainability. You should pay attention to the following aspects:
- IoT devices can inform the staff about potential problems before they become more prominent, allowing businesses to perform predictive maintenance, avoid costly downtime and make evidence-based decisions.
- IoT sensors connect smart devices and even entire manufacturing facilities. This interconnection reduces energy consumption and greenhouse gas emission when optimizing data transfer. For example, the Sheraton hotel chain uses IoT solutions for its HVAC, lighting, and chiller systems.
The Internet of Things allows you to bring business activities to a new level and ensure the stability and environmental friendliness of the project.
Telecommuting Technologies and Virtual Offices
Daily commuting and office work are significant sources of greenhouse gas (GHG) emissions. Fortunately, video conferencing tools like Zoom or Microsoft Teams can reduce harmful emissions of GHG and waste.
The COVID-19 pandemic and the increasing number of followers of the Work From Home (WFH) approach have shown us our tech infrastructure is ready to implement remote or hybrid working practices. And if you expect to overcome the climate crisis, you should review your habits, including working ones.
Virtual reality and screen-based simulations are other ways to provide practical experience in learning the subject. For instance, the Oxford Medical Simulation platform uses VR glasses to help interns diagnose and treat patients without consciousness.
Conclusion
You should adopt climate change resilient technologies into your business activities wisely. Getting the support of qualified developers can help you turn your project into a real game-changer and discover new horizons of profitability.
At Rocketech, we implement advanced approaches and technologies to create digital solutions that improve your bottom line and contribute to improved customer service. You will get a complete, dedicated team with a vast experience in different domains to develop an innovative app. Are you expecting to get the most out of your project? Review our cases and contact us for more detail.