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How Sustainability Changes the Future of Technology
How Sustainability Changes the Future of Technology

January 6, 2023

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Leading companies understand that achieving ambitious sustainable technology goals needs a systemic approach to transformation. It will require a 360-degree view of the challenge. Creating sustainability in an organisation as a competitive advantage, on the other hand, necessitates integrating technology and data from the start.

Introduction

Sustainability is a trending topic in every business as it impacts the future of technology. Furthermore, clean technology is playing an essential role in sustainable development, preserving the environment, and leading toward a sustainable future.  Even today, sustainable living and development pose a considerable challenge. Each day we are exposed to environmental risks, including exhaustion of natural resources, deforestation, pollution, e-waste generation, poor water, and air quality, ozone layer depletion, and more.

If proper action is not taken, CO2 emissions from the United States alone are anticipated to reach 4,807 million metric tons by 2050. That’s more than enough to get anyone worried, including business owners and several major industry players.

Certainly, we require a solution, and we need it fast. One-way individuals and businesses have begun to tackle climate change is through the incorporation of sustainable technology.

What is Sustainable Technology?

Since sustainability changes the future of technology, sustainable technology is an umbrella term. It describes an innovation that accounts for natural resources and social development and fosters economic growth. The goal of these technologies is to gradually mitigate environmental and ecological risks and to create a sustainable product. 

Sustainability changes the future of technology in the following few ways:

  • Substitution. The technology fosters a transformation from non-biodegradable to biodegradable materials in its production. It also substitutes non-renewable with renewable resources. 
  • Prevention. Sustainable technology prevents contamination, deterioration, and other negative environmental influences through its use or production. 
  • Efficiency. The technology is efficient in terms of its utilization of resources and energy. 

Examples of Sustainable Technology

Sustainability in technology is already making its way into public use and innovation. Common examples of innovations and sustainable technology include:

  • Public and electric transport
  • LED light technology
  • Solar power
  • Carbon capture and storage technologies
  • Self-sufficient and LEED buildings and construction methods

Why Sustainable Technology is Worthy for Business

Sustainability changes the future of technology. It has the potential to change how businesses and public systems operate. Sustainable technology aims to reduce any negative environmental and social impacts, which is good for a business’s bottom line, and its status. 

Every business owner desires to make a difference and stay compliant with environmental and social standards. By applying sustainable innovations, companies can stay competitive and help the environment. 

We’ll look deeper into why your business should use sustainable technology.

1. Mitigate Risk and Improve Project Outcomes 

One advantage of sustainable technology is that it facilitates your business to reduce risk. When you utilize biodegradable and renewable materials, you’re indirectly protecting the ecosystem. And hence, your business—from the negative impacts of climate change. 

Furthermore, 48 % of businesses nowadays make use of sustainability to enhance production and innovation. Plus, long-term investors are probably to work with businesses with high ESG scores.

2. Improving Your Bottom Line

Sustainability changes the future of technology in your business, you can make use of resources successfully. This goes a long way in augmenting your bottom line. Investing less and gaining more is a profit booster and aids your business to stay competitive. 

3. Attracting and Retaining Top Talent

The silent battle of attracting and retaining top candidates furies on in the business world. The key to acquiring the best talent is to use sustainable technology for your business. Whereas, three out of every four millennials want to operate for businesses with environmental and social standards. Furthermore, employee loyalty is also more likely when your business is committed toward sustainability.

4. LED light efficiency. 

Energy-efficient LED lighting is rapidly replacing traditional incandescent bulbs in American homes and is expected to accomplish 84 percent market share by 2030. In 2030 alone, LED lights will decrease energy consumption by 40 percent, which will be adding up to $26 billion in savings adjusted to today’s energy prices. These are dramatic cost savings, however, as per the Department of Energy, the U.S. can still see an extra 20 percent in energy savings with higher investment in LED lights.

5.  Plastic recycling. 

The plastics industry has the opportunity to take a step back from a “take, make, and dispose” business model and accept a circular model, which aims to eradicate waste across sectors while making societal, economic, and environmental benefits. One promising circular process is pyrolysis, which utilizes heat and the absence of oxygen to reconvert plastic waste back into its liquid feedstock. The advantages are economic as much as environmental, with a recycling-based profit pool projected at $55 billion by the next decade.

6. Accessible solar power.

While increasing the grid is part of the access solution, countries in the Caribbean and sub-Saharan Africa, which account for a majority of the world’s unelectrified population, are exploring renewable solutions such as solar energy to bring energy rapidly and inexpensively to millions. Innovative financing plans can facilitate in making previously unaffordable solar home systems (SHSs) a smart solution for communities that are too far from a reliable grid connection.

Final thoughts 

We hope that this article has given you a thorough understanding of why sustainability changes the future of technology. As well as what we can expect to see in the industry in the future. It’s safe to say that clean technology will continue to increase in relevance and hopefully help drive us toward a more sustainable future. 

 


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