What Is Sustainable Technology? FutureUniverseTV Gives You A Practical Approach.
Leading companies must take a 360-degree approach to transformation in order to achieve ambitious sustainability objectives. In order to achieve sustainability as a competitive advantage, it is vital to integrate technology and data from the very beginning. Technology has a much broader role to play than merely “green IT.”
Companies should ask management teams whether game-changing technology and digital thinking are being brought to the task of meeting sustainability goals—or whether this critical business issue is missing an important dimension as they consider their technology and sustainability agendas in tandem. Advantages derived from the technology ecosystem. Technology can serve as one of the most powerful accelerators for companies willing to think broadly about how to advance their sustainability initiatives.
As an example, in order to achieve net-zero GHG emissions, we call this mindset a “technology ecoadvantage” – using advanced technologies and ways of working to enable profitable solutions that have a positive impact on other environmental, social, and governance goals. As a result of our experience, we have found that a combination of process automation, carbon data transparency, circular product design, and sustainable business models can reduce emissions by 45% to 70% for an organization with approximately 80,000 employees.
As an integral part of promoting sustainable business practices, sustainable reporting can also help companies tell their sustainability story to the public. In fact, if consumers and investors do not know that a company is committed to sustainability, they are less likely to support it.
The Global Reporting Initiative (GRI) guidelines are one of the most popular forms of sustainability reporting. The guidelines are intended to provide companies with a framework for reporting their environmental, social, and economic impacts. Further, many companies make public their annual sustainability reports based on these guidelines.
In addition to the GRI guidelines, there are many other resources available to companies looking to improve their sustainability reporting. This process can also be assisted by a variety of software programs and online tools. The important thing is that a company is taking action and working towards its goals, regardless of the type of sustainability reporting it uses.
In order to achieve positive results and maintain them over time, technology and sustainability should be taken into account as key factors in a company’s competitiveness. As a result of combining technology with sustainability, companies are able to achieve higher earnings, reach new markets, expand their customer base, and increase their margins. To achieve this, companies should embed technology and sustainability into their strategies and corporate culture, as well as invest in them, monitor results, and take action to address them.
However, it is common to treat the environmental, economic, and social dimensions of sustainability as separate and independent elements, especially in a managerial environment. A better understanding of the interconnections between the different dimensions of sustainability is still needed, which are driven by technology, which is a fundamental driver of business development.
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