In today’s increasingly global data-centric economy, prioritizing efficiency can help reduce costs while protecting the planet. The use of technology in the most efficient and environmentally friendly way, while trying to remove generations of environmental damage, is a question facing most of the world’s economies today. The transition to a sustainable society and economy is non-negotiable. Fortunately, countries, companies and communities are realizing their great potential for collective action.
Purpose-driven companies passionate about using technology to drive human development prioritize sustainable practices. An organization has different stakeholders with different priorities. For example, consumers and investors increasingly expect transparency as corporate leaders implement sustainable solutions to meet stakeholder needs. The objective is to reduce the environmental impact of the business while improving the return on investment. EY’s 2022 India CEO Survey reveals that more than three-quarters (78%) of Indian CEOs consider ESG factors ‘very important’ or ‘more’ when making strategic decisions. Additionally, a November 2022 study by Oxford Economics and SAP revealed that Indian businesses now recognize the potential for sustainability to unlock business value, with 62% of Indian companies saying no. difficult to be sustainable and profitable. With governments also committing to sustainability initiatives, CEOs can benefit by changing their investment strategy to ensure sustainable growth. Is it possible for businesses to integrate sustainability into their value chains? The short answer is ‘yes’.
Make to make again: The first step towards further technological sustainability involves understanding the life cycle of products. Then we can integrate circularity and sustainable design in their every stage. Over the years, as the use of technology has rapidly increased, so has the e-waste generated. In fact, e-waste is estimated to grow by 31% annually. A concerning statistic is that 78% of e-waste generated in 2019–20 in India was not collected, recycled or properly disposed of. To reduce the burden of e-waste and prevent its increase, organizations should adopt a circular economy—ie, design products for easy repair, reuse and recycling. recycle at end of life. This will keep products and materials in circulation longer, reduce pressure on resources, and prevent waste.
Another important step is to create an ecosystem of recovery services to help customers responsibly retire technology for reuse or recycling. Recycling and take-back services make it convenient for companies to return their used technology equipment for a credit toward new equipment. According to estimates by the Ellen MacArthur Foundation, India’s adoption of a circular economy would yield annual benefits of ₹40 trillion by the year 2050. The use of recycled or renewable materials from new sources will help prevent the waste of useful materials and reduce the consumption of precious and often limited resources.
Sustainable data centers are here to stay: Buoyed by rapid technology adoption, India will be the fastest growing large market for digital consumption. The ever-increasing demand for data storage, for example, is driving the growth of the data center market in India.
Data centers are critical for digital transformation. They provide the necessary architecture and infrastructure to process, organize and distribute large amounts of data. Our global economy’s thirst for data also leads to high energy consumption. An emerging initiative, green data centers, can help solve this issue by reducing their ecological impact through greater efficiency in data security, energy consumption, ease of operations and cloud solutions.
Adopting green data centers can reduce costs in the long run, reduce water and electricity usage, and also carbon emissions as well as waste output. Many companies are choosing green data centers as part of their sustainable journey. Government incentives also encourage the use of renewable energy such as solar and wind-power for data centers through collaboration with the ministry of power.
Involvement of all stakeholders: An effective sustainability strategy for an organization is essential. However, to make real progress and achieve sustainability goals, companies must include stakeholders throughout the supply chain. Success also comes from making sustainability a part of everyone’s work. This can be done through regular engagement with key stakeholders, including customers, employees, supply chain partners and policy makers. Organizations must take full responsibility for their carbon footprints, invest in training employees in sustainable practices, and encourage their leadership team to take advantage of government incentives to invest in sustainability initiatives.
Sustainable sailing requires constant attention to more environmentally friendly alternatives, as well as showing support from above while prioritizing sustainability initiatives. It takes time, investment, effort and long-term commitment—the result is good for business and good for the planet. And, technology can be part of the solution. Make no mistake, the future of technology is green.
Alok Ohrie is the president and managing director, Dell Technologies India
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