Sustainable technologies are now transforming our interaction with the environment, by integrating and considering in their mechanisms, processes and in the use of resources the environmental and social dimensions, beyond the economic one.
Technology is also crucial today in measuring impact on ESG (environmental, social and governance) sustainability reporting, at a pace that will accelerate in the coming years. All technological innovation, including artificial intelligence, will play a significant role in improving ESG practises, allowing companies to assess the impact of their strategies through predictive models that identify risks and are an engine for mitigation.
The tools that simplify and optimise the process of collecting and analysing information on the business ecosystem are in accelerated evolution, because they have to follow the movements of legislation and compliance at the European level. Artificial intelligence will increasingly allow companies to reduce the complexity of data analysis to reduce environmental impact, social improvement and corporate governance. Algorithms can signal proactive actions to avoid significant damage to the environment, monitor emissions and resource use, optimise processes to reduce waste, and promote greater energy efficiency.
An additional advantage, the automation of reports gives guarantees of transparency and compliance with the regulations and standards in force - and will be increasingly required for homogenisation, centralisation and procedural validation. We are already witnessing this trend in our country, around the banking system, which controls the effective mechanisms of financing distribution... And which will need additional guarantees on the companies and projects to which it channels capital.
The great paradigm shift needed is also being driven by increasingly demanding consumers, who want more sustainable products, demonstrably. It is a great window of opportunity for technological brands, which can position themselves in a more assertive way.
There is no other way. We cannot perpetuate the linear model of resource extraction, promoter of social inequality. Green technologies not only reduce environmental impact, they boost the economy and quality of life. For there to be social equity, there must be technological inclusion. The interconnection between technology, sustainability and society is crucial to achieving the UN Sustainable Development Goals.
However, green technology involves complex trade offs. Ethics plays a fundamental role in this intersection, and should guide us to a more equitable, healthy and resilient world. This world is possible, scaling technologies that allow more informed decisions, a more efficient use of natural resources, providing for the proper management of electronic waste, and helping to make our companies more innovative and resilient, agents of a low-carbon economy. A more sustainable future is possible for everyone. Giving up is not an option. And we can't leave anyone behind.
In practical terms, know all about sustainable practices and consultancy and how to implement and show case your green activities and schedule a call with TH2 here.
Ana Cristina Chaves, coordinator of the ESG graduate program: Reporting and Sustainable Management of Iscte Executive Education
Tuesday, July 30, 2024 23:21
in Briefing.pt posted here
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