Technology has enabled businesses to innovate faster but behind the exciting exterior that’s shown to the world, the impact that tech is having on the planet is surprising. By 2040, if the ICT industry continues at its current rate it will account for 14% of all global emissions.
Environmental, social, and governance (ESG) initiatives are no longer nice to haves, and they are a top three priority for investors. Profit and revenue are still the top two, but what impact can technology make in helping all three initiatives become a reality?
Firstly, the business case for CSR is clear, studies have proven that employees are looking for companies that have clear and concise CSR policies. A recent survey has found that 80% of people want to work for a company that cares about how it impacts and contributes to society.
Consumers are also more aware of where they’re spending their cash, looking into a company and whether they’re sustainable or if they’re a leading contributor to the climate crisis.
And both of these impacts a company’s bottom line; more customers equal more sales, and hiring the best team leads to a better product or service. It’s a win-win really.
Now we’ve got your interest, you’re probably thinking, how can my business become more sustainable? Look no further.
Automation is a key part of the technology industry, has been for many years, and will be for years to come. It’s used to reduce the need for human intervention in processes, namely by predetermining influential factors. Automation is used to increase efficiency, reduce costs and improve a business’s product or service. It also reduces the amount of labour required for simple tasks, and this in turn improves a business’s productivity.
Errors are reduced, standards are enforced and continuous, and it ensures accountability. By streamlining processes not only is sustainability improved, but it also holds businesses accountable to their ESG goals.
Cloud computing allows businesses to store data and applications reducing the amount of software and hardware needed to run IT operations. The elasticity of cloud service models allows organisations to use only what they need, increasing the utilisation of shared resources and reducing environmental impacts.
Whilst benefiting a business’s environmental impact using the cloud also positively influences them financially and improves efficiency. The Cloud can be used to achieve sustainability benefits within economic, environmental, and social systems.
Artificial intelligence can optimise operations and processes to reduce carbon and environmental footprint and mitigate material risks by changing the way in which we use technology through predictive analysis.
One industry where AI is being used is online fashion; predicting trends and analysing what’s selling allows companies to stop the production of certain products. This reduces water use in production, pollution and carbon emissions are reduced, and of course there won’t be any unnecessary waste with products that have been created and not sold. By using AI the fashion industry can reduce carbon emissions by 40%.
Using Cloud Computing, Automation, and AI in your day to day operations are just a few things you can change to make a massive impact on both your business and the planet. If you want to hire a team of talented Software Engineers to help you achieve your CSR goals, develop can help. Get in touch to find out more!