The commitments made during the November UN COP26 climate change meeting will reshape the agenda for global business. An expected acceleration of activity to address climate points toward net-zero emissions as an organizing principle for business.
The scale of the climate emergency requires organizations in every industry to mobilize now to boost efficiency. Digital technology presents the straightest path to achieve the ambitious targets outlined in the COP26 agreement.
“The outcomes of COP26 underline the urgent need for businesses to take ownership of sustainability and work towards becoming more energy efficient now,” says Jean-Pascal Tricoire, chairman and CEO of Schneider Electric. He added that the next decade will be the one where digital technology puts sustainability ambition into action.
“With 70% of emissions reduction achievable with existing, proven and competitive technologies, this report is testament to how organizations can apply the digital tools of today to help us arrive at the net-zero future the planet depends on,” said Tricoire.
The Schneider Electric-CNBC Catalyst report, Unlocking a sustainable future: Why digital solutions are the key to sustainable business transformation, outlined how companies and institutions leverage digital technology to reduce greenhouse gas (GHG) emissions, transition to renewable energy and build more transparent supply chains. Ideas include:
Advanced AI and ML bolster sustainability
By integrating human and machine intelligence, the companies featured have capitalized on the ability of algorithms and high-powered computing to create change in essential areas such as energy use, city design, resource consumption, supply chain efficiency, and power generation.
Crucial in balancing environmental and societal responsibilities
Increased expectations to achieve tangible sustainability gains has raised the bar for businesses. With COP26 emphasizing the need for governments and businesses to be held accountable, progressive companies are fast recognizing that a more sustainable future is crucial to ensuring the long-term viability of their business.
View sustainability and digitalization as connected transformations
Digital technology investments can create significant business value when deployed with the right partner to drive momentum. With the pandemic confirming the importance of digitization for business continuity, the need for a robust, energy-efficient future has never been more apparent.
