It is not an exaggeration to state that all industries are now working to improve their sustainability. Sustainability issues have emerged as a top priority for business leaders who must deal with change not only from the outside, such as consumers and investors but also from within, particularly employees.
Bad environmental consequences are increasingly being addressed and mitigated. Environmental concerns are a constant issue, and this sustainable technology is thought to be capable of providing a speedy remedy.
This creates an important reason to learn more about sustainable technology and the benefits it will provide in the future. Not only for the good of the environment but also for the company’s continued development.
What Is Sustainable Technology?
Before discussing how sustainable technology might be used to solve existing environmental issues. We must first comprehend the concept of sustainable technology.
Sustainable technology is a broad word for numerous types of innovations in technology that focus on natural resource balance. According to Rubicon, this technology is utilized to produce sustainable products while reducing environmental issues.
Another definition is given by Gartner which describes sustainable technology as a digital solution framework that can drive optimal results in environmental, social, and governance (ESG) aspects for companies and their customers.
What is The Example of Sustainable Technology?
Is sustainable technology then found in all of us? The answer is yes. The sustainable technology examples that some may be familiar with include electric vehicles, LED lights, solar panels, and natural power generation such as wind, air, and geothermal.
Tesla is a company noted for its innovation in sustainable technology. The company headed by Elon Musk has a mission to accelerate the transition to sustainable energy. They demonstrate this by aiming to develop products that will have a positive impact in the future, with their main product, the electric car.
The commitment that Tesla displays has arguably led to them becoming the uncontested leader in the electric vehicle business. It became the most valuable car company in the world by 2020. They plan to keep up this pace until they have distributed more than 1.31 million electric automobiles worldwide by 2022.
However, not easily satisfied with what they have achieved so far, Tesla revealed plans to continue to expand clean energy products with continuous innovation going forward. The company wishes to underline its distinction from automobile manufacturers and other green technology enterprises in this section.
Examples of digital solutions included in sustainable technology include cloud services that allow companies to use resources only as needed. It assists companies in lowering their carbon footprint and other costs. So that the company can maximize the use of common resources while minimizing the environmental impact.
Artificial Intelligence (AI)
Another example of long-term technology is artificial intelligence (AI). This is the result of AI’s ability to optimize challenging operational procedures and execute them with a low carbon footprint while maintaining part or all of the accuracy of outcomes.
We can see from the numerous definitions of sustainable technology that exist today that they all focus on two primary concepts: this technology exists to ameliorate and reduce environmental concerns, and it was designed with sustainability in mind.
Why Is This Important for Business?
Gartner’s findings show that sustainability issues dominate technology trends throughout 2023. And, they predict that at least 50% of company leaders will have work performance metrics related to sustainable technology within the company in the next two years.
This is inseparable from the pressure felt by business leaders to do more with environmental sustainability. They realize that the current changes must be considered as opportunities to drive business efficiency and revenue growth.
Enhancing Business Value and ESG Performance
Sustainable technology can now be said to be one of the keys to a company’s success in increasing its business value and ESG performance. The Harvard Business Review reveals that this ESG value is a strong consideration for long-term investors to work with a company.
The sustainable aspect has become a competitive differentiation that differentiates the business from competitors. This aspect is also in an important position that influences consumer trust in brands.
We mentioned earlier that companies do not only get external attention. The implementation of sustainable technology is also in fact noticed by employees.
Sustainability: Key to Talent Retention and Loyalty
In its report Millennials at Work: Reshaping the Workplace, PwC found that three out of four millennials want to work in companies that adhere to environmental and social standards. So, it can be said that the key to retaining the best talent and gaining employee loyalty can be achieved through sustainability practices.
Technology may only be one of many things that play an important role in the journey toward sustainability. However, it should be realized that technology can be a very influential tool to encourage more companies to adopt sustainability practices. The benefits are not only for us now but also later and in the future.
Anabatic Technologies understands the significance of ESG implementation. Therefore, company has implemented a range of ESG practices, such are effective CSR activities, risk assessment and risk management, code of conduct, whistle blowing system. We invite you to check out our Sustainability Report for more details on our commitment to a sustainable future.