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The Technology Ecoadvantage : Achieving Sustainability Goals
The Technology Ecoadvantage : Achieving Sustainability Goals

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ESG (environmental, social, and governance) 2030 goals, a set of 17 global goals adopted by the UN in 2015, are set by the companies for themselves to address sustainability and social responsibility. These goals aim at reducing the negative impact of a company's operations on the environment, promoting equality and diversity within the organization, and ensuring good governance practices. By these targets, companies can show their commitment to making a positive impact on the environment, society, and their own governance practices. Achieving ambitious sustainability goals requires a systemic approach to transformation—one that takes a 360-degree view of the challenge. Building sustainability as a competitive advantage requires integrating technology and data from the very beginning.  

At NASSCOM Product Conclave- 2022, Tech for Sustainability Summit, speakers emphasized the “Technology Ecoadvantage” mindset for the way forward. For companies willing to think broadly about how to advance their sustainability initiatives, technology can act as a major accelerant, using advanced technologies and ways of working to enable profitable solutions, a positive impact on net zero, and other environmental, social, and governance goals can be achieved.  

A big benefit of “The Technology Ecoadvantage” mindset is that companies can set a roadmap for new tech adoption that will speed the journey to sustainability by helping to embed it as a core value and maximize the inheritance of existing technology. The key to implementation is rethinking traditional approaches to technology—particularly in the areas of digitized operations; digital product and service design; cloud computing, IoT, and blockchain; applying AI and advanced analytics; and data sharing and ecosystem building and management. 

With this thinking, there is a need to holistically adopt technologies in an ecosystem like: 

  • Renewable energy technologies such as solar panels and wind turbines,  

  • Energy efficiency technologies such as LED lighting and smart building controls, 

  • Water conservation technologies such as drip irrigation and greywater recycling systems, 

  • Waste reduction technologies such as recycling systems and composting facilities, 

  • Sustainable transportation technologies such as electric vehicles,  

  • Sustainable sourcing technologies such as traceability systems and blockchain, 

  • Sustainable manufacturing technologies such as industrial ecology and closed-loop systems.  

Focusing on Technology, Mr. Venkat Garimella, VP – of Strategy & Sustainability, at Schneider Electric stated that “it is important for us that on one side we embrace Energy Efficiency using all the Digital Tech which is available to us and on the other side we need to accelerate electrification as it is that Vector of energy which can be decarbonized on the supply side. We can use Renewables like solar or wind and can decarbonize the supply or generation of electricity through burning fossil fuel.”  

 

All of this can be achieved by active participation by all levels of management in a company. Watch the complete panel discussion on “The Technology Ecoadvantage” here – Video Link  


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Rohan Sharma
Lead - Partner Engagement | NASSCOM Industry Partnership Program

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