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Companies around the world are realizing that their field of work – our planet – is finite. And this is accompanied by a remarkable change: While sustainability was
Companies around the world are realizing that their field of work – our planet – is finite. And this is accompanied by a remarkable change: While sustainability was previously just a cost factor, its strategic value is now recognized. Thanks to extensive research, Capgemini sheds light on this development and illuminates the crucial shift in perspective that arises from the undeniable impact of climate change and extreme weather conditions. Organizations are increasingly recognizing that sustainability and profitability are not mutually exclusive, but go hand in hand.
However, the implementation of these new findings does not yet correspond to the growing awareness. Findings from our 2023 A World in Balance report show that companies recognize the importance of environmental sustainability, but are not consistently translating this into increased investment or robust action plans. There is still much work to be done, particularly in the area of sustainable product design and comprehensive reporting of Scope 3 emissions (all indirect emissions in an organization’s upstream and downstream activities, including emissions from suppliers and customers) – a missed opportunity for companies to take a pioneering role in sustainability.
However, the potential of technological progress is particularly promising. Generative AI positions itself as a beacon of hope with innovative solutions to promote sustainability efforts. This technology is not just an efficiency tool, but a catalyst for transformation. Companies can design complex systems, optimize the use of raw materials and develop sustainable products with unparalleled precision and insight.
Recent research from Capgemini on the eco-digital era suggests an expected doubling of the eco-digital economy to around $33 trillion over the next five years, highlighting the huge untapped potential of digital technologies to drive sustainability. This new era is characterized by a two-pronged transition to a more digital and sustainable world, in which digital technologies play a crucial role in achieving sustainability goals while driving economic growth based on this sustainability.
The eco-digital era brings new business models and revenue streams, increases cost efficiency and increases the value of digital technologies for the business world. For example, data and cloud services are being deployed more widely, and rapidly evolving new technologies such as generative AI and synthetic biology are driving greater collaboration and digital ecosystems. This progress is fundamental, cross-sectoral and global, and shows the importance of digital technologies in reducing greenhouse gas emissions by 2030, in line with the Paris Agreement.
At Capgemini, we highlight the role of technology as a critical catalyst for the transition to more sustainable business models. Integrating advanced technologies like AI into sustainability strategies can accelerate progress, achieve greater impact, and foster a culture of innovation and responsibility.
Companies are encouraged to leverage technological advances to increase sustainability and close the current gap between knowledge and action. This path requires a commitment to continuous improvement, innovation and collaboration, supported by deep insights into the connection between economic performance and environmental responsibility.
The future requires companies that are not only aware of their ecological footprint, but also actively seek to reduce it. Companies can make the transition to a more sustainable and profitable future by leveraging technology and integrating sustainability into their core activities. In doing so, they not only contribute to the well-being of the planet, but also strengthen their competitiveness in a market with increasing environmental awareness.
Last month at the World Economic Forum (WEF) in Davos, Capgemini reiterated its commitment to these ideals by explaining how technologies and businesses can work together to restore trust and create a sustainable, innovative future. With this contribution, Capgemini shows that it wants to use technology for the benefit of society. Capgemini not only embodies the spirit of the eco-digital age, but also highlights the need for companies to pursue sustainability goals in a finite world.
Our research provides a useful roadmap for companies ready to embark on this crucial journey. By highlighting both future challenges and opportunities, the study shows how important it is for companies to commit to sustainability goals. The message is clear: in a finite world, synergy between business and sustainability is not an option, but a necessity for continued success and a resilient future.
This is a post by Annlore Defossez, Sustainability and Corporate Social Responsibility Officer at Capgemini. Click here for more information about the company.
Source: IT Daily
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