4 ways to achieve your digital sustainability goals
Businesses who prioritise environmental, social and governance (ESG) initiatives don’t just make the planet a little better. They also make more money. By some estimates, going green helps them to produce 2.6 times more value than their competitors.
Perhaps that’s why all 500+ Accenture survey respondents with over $1 billion in revenue rated tech as 'important' or 'very important' for reaching their sustainability targets. Yet only 7% of companies report having integrated their technology strategies and sustainability strategies.
If you’re one of them, consider how investing in green tech can help you not just be more sustainable, but more profitable, too.
Defining Green Technology and Its Benefits
Sustainability Success defines green technology as, “an umbrella term that refers to a diverse range of technologies and practices that can be used to minimise environmental impact.”
“Companies that adopt sustainable technology to a significant extent achieve 4% higher ESG scores,” points out Accenture. “This can translate into an 11% jump in their ESG ranking.”
Besides climbing the sustainability ranks, the right technology can also help you target specific goals. Green IT is the go-to for leading companies because of the ways that:
1. It reduces energy consumption.
While there’s no getting around the fact that machines need power to function, how much you consume can be minimised with the right products. The more efficient the device, the less energy that’s needed to run it.
Purchasing green IT that can be powered by renewable resources like sun or wind can provide additional savings. For example, some newer AI-enabled smart power extenders are already making headlines.
2. It reduces business expenses.
Despite the upfront investment required, sustainable technology has the potential to drastically cut costs over the long term. From lower energy bills to higher productivity and safer working environments, it’s a win-win.
Digi International shares that green technologies, like those with environmental monitoring capabilities, can help businesses, “pinpoint and address environmental factors that affect safety, preventing malfunctioning equipment, harmful pollution and other hazards.”
3. It reduces your carbon footprint.
A business’s carbon footprint, the measurement of environmentally harmful greenhouse gasses emitted as a result of their work, can have a substantial impact on the planet – for better or worse.
“For an organisation of about 80,000 people, the combination of process automation, carbon data transparency, circular product or service design, and sustainable business models can reduce emissions by 45% to 70%,” explains international consulting group BCG.
4. It generates data.
Organisations who leverage next gen technologies like AI and advanced analytics get a front row seat to how their ESG initiatives are impacting the planet, as well as their bottom line.
These figures can be used to inform stakeholders, shareholders, and the public of the positive results your sustainability efforts have had. This level of transparency is likely to result in better reputation management and provides an opportunity to optimise your product or service offerings.
Running a more sustainable business isn't just an environmentally-friendly thing to do. With the addition of green tech, you demonstrate your commitment to running a planet-first operation that’s as keen on growth as it is progress.