New technologies: green, more fashionable than ever

Suddenly, the word «purpose» replaced other material words, such as «profit», in the essential objectives of companies. Sustainability, in its broadest sense, has taken center stage: it is no longer just about caring for the environment, but also about being responsible to the communities in which they operate, about being committed to diversity and inclusion, about promoting quality job opportunities and about supporting any of the SDGs (the UN Sustainable Development Goals). 

The issue is bidirectional: consumers demand this from the brands they buy from, value chains are driving these behaviors and investors evaluate sustainable indices as much as financial ones when deciding where to place their funds.

New technologies play a key role in this process: they are one of the pillars on which sustainable strategies are built. According to the expert site in market reports, Allied Market Research, the global market for «green» technologies reached US$10,320 million in 2020 and will grow at a rate of around 21% per year to exceed US$74,640 million in 2030.

Meanwhile, Gartner, a market consultancy, says there are three sustainable IT trends that will reach mass adoption within the next three years: cloud sustainability, carbon footprint measurement and advanced network management software for optimal energy consumption.

Behind the footprint

One of the major sustainable goals that companies are pursuing is to reduce their carbon footprint. This is where technologies such as virtualization and cloud migration come into play. At the same time, increasingly energy-efficient technologies are contributing to this cause.

In combination with the Internet of Things (IoT), companies can calculate consumption across the enterprise, evaluate and detect inefficiencies and optimize usage.

The role of IoT sensors will encompass different aspects of sustainability. For example, they will be able to proactively manage business assets by anticipating failures or maintenance needs, prevent the over-consuming of energy as a result of malfunctioning or, even worse, from spilling toxins or releasing toxic materials into the environment.

From automation to digitalization

Two of the most common objectives of digital transformation processes are closely related to sustainability. The first is the elimination of manual processes with the consequent reduction in the use of paper, which in some industries tends to be zero. 

The second is the efficiencies offered by technologies such as automation, which is essential for reducing the carbon footprint.

Artificial intelligence (AI) or machine learning are also key. For example, companies can now analyze pending deliveries and stipulate optimal routes for each delivery vehicle, which produces multiple benefits, including lower fuel consumption and a longer service life for the vehicles themselves.

Expanding intelligence

Another possibility is the intelligent forecast of a product’s demand: this significantly avoids waste, both during the manufacturing process – responsible consumption of raw materials is encouraged – and of finished stock, since precise volumes are produced in relation to what will later be sold.

Extended to the entire supply chain, blockchain can be used to ensure that all parties comply with ethical and transparent business practices, that there is no slave or child labor at any point in the process, that equal opportunities for small or local suppliers are favored, or that the circular economy is promoted.

These are just a few examples of how disruptive and innovative technologies are helping us to care for the future. Green is the new black.