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The recent conclave at the UN Climate Change Conference of the Parties (UNCCC), COP26, in Glasgow renewed the global commitment to combat climate change and invigorated a distinct sense of increased urgency.
The imperative of a visionary strategy and a well-articulated plan is a good place to start, but now, more than ever, immediate wins are required. There should be immediate, if not immediate, measures of reducing the carbon footprint of ordinary living and improving the quality of life of citizens and communities. Even today, sustainable living while fostering a developed society draws a string of unprecedented environmental consequences amalgamated in the form of depletion of natural resources, air & water pollution, deforestation, global e-waste generation, ozone layer depletion, and much more.
Clearly, we require a solution, and we require one immediately. Sustainable technology is one method that corporations and individuals have begun to utilize to combat climate change.
Sustainable Technology: A Brief Overview
Sustainable technology fosters innovation and catalyzes sustainability through the judicious use of natural resources without hampering the current endowments. It aims to drastically decline environmental risks and ecological problems while clearing paths for manufacturing sustainable products.
It encourages the use of biodegradable materials instead of non-biodegradable ones in the manufacturing process. It also promotes resource efficiency while offering the option to replace the non-renewable use of resources aiming to reduce degradation, pollution, and other harmful environmental effects.
With the introduction of the Paris Agreement and the combined forces of global citizens to drive toward sustainable development, Sustainability in technology has already found its place in public use and innovation.
Let’s take a closer look at the examples of sustainable technology and innovative use cases:
- Electric Public Transportation
- LED Light Technology
- Renewable Power Sources / Solar Power
- Popularization of Carbon Capture and Storage Technologies
- LEED buildings and Sustainable Construction Methods
Achieving sustainable development goals requires mobilizing efforts in several areas, including harnessing and leveraging technological innovation capabilities for carbon capture & storage systems, cost-effective irrigation methods, vital pharmaceuticals, household water purification devices, and developing a manufacturing process that limits waste and pollution at sites.
Although adequate efforts have been mobilized to foster innovations around the world through public and private partnerships based on PPP models, all these actions seem to be lagging to meet the sustainability goals for the world’s most impoverished and marginalized sections. In many cases, the inadequacy of technology and the non-accessibility of a sufficiently profitable market appear to be the stumbling blocks for user needs.
The Imperatives of Sustainable Technology for Business
Sustainable environmental technology can change the way businesses and government agencies operate. Sustainable technology strives to reduce negative social and environmental consequences paving the way for the betterment of the company’s bottom line and reputation.
Every business owner aspires to leave their business footprint and stay competitive while adhering to environmental and social regulations and introducing sustainable solutions to protect the ecosystem. Hence, harnessing the digital revolution by implementing high-end tech solutions driven by environmental sustainability goals is the need of the hour.
Let’s have a closer look at why your businesses should implement sustainable technology in their manufacturing process.
1. Supports Risk Management Process to Improve Project Outcomes:
One of the biggest positive aspects of sustainable technology is that it reduces the business risk for your organization. With sustainable technology combined with renewable and biodegradable products, you’re indirectly safeguarding the environment and your business from the detrimental consequences of climate change and transitional risks.
As per the reports, approximately 48% of the companies – including H&M, Stryker, P&G, etc. – are implementing sustainability strategies to boost productivity and innovation outcomes. Most importantly, long-term investors and other business stakeholders are more likely to collaborate with companies that function better on the Environment, Social & Governance (ESG) parameters. Hence, with sustainable technology at your convenience, your company will become more appealing to investors, garner desirable investment and create stakeholder value.
2. Improves Your Growth Strategy & Bottom-Line Revenue:
Embedding eco-friendly and sustainable technologies in a business will helps you with effective and efficient use of resources to make products. In turn, it helps in saving resources and contributing to your bottom line revenue. Also, spending less on resource procurement increases the profit margin and allows to stay competitive in the market.
3. Talent Magnetism: Attracts & Retains Top Talent
To stay ahead of the competition, today, organizations are indulging in a tug of war to attract and retain top talents while deploying sustainable technologies. Research reports say conscious consumerism and three out of every four millennials want to associate with a company that is environmentally and socially responsible. Therefore, by promoting sustainability with the use of sustainable technologies, business organizations can create employee loyalty and improve their ESG ratings.
Leveraging our technical prowess and highly talented resources, KritiKal collaborates with clients to identify barriers to technology development and render potential solutions to assist in the implementation of critical technologies. If you have an idea or looking to develop a groundbreaking product, reach out to us at sales@kritikalsolutions.com today.