A new age is taking shape, being defined by climate catastrophe and pandemic-induced disruption making it clear that a transformation in the old ways is a must. To face the daunting challenges of the net zero era, it has become imperative to discover new ways to function productively, safely, sustainably and meaningfully.
The Time Is Now
The term ‘net zero era’ encapsulates the heat being experienced by the globe in terms of sustainability threats. The demands of the next decade are calling out as the certainties on which the ecosystem relied upon are, literally, dying out. Furthermore, climate damage caused by global warming will continue escalating for as long as emissions continue. Global warming is directly proportional to CO2 emissions, which means that anything more than zero is not acceptable. According to the University of Oxford, the international scientific consensus that, in order to prevent the worst climate damages, global net human-caused emissions of carbon dioxide (CO2) need to fall by about 45 percent from 2010 levels by 2030, reaching net zero around 2050.
Gross Zero and Net Zero
Highlighting the ‘net’ in net zero, the conversation of scaling up removals and widespread cut in emissions is imperative considering that a perfect zero is difficult to attain given the timeframe. A total cut in the release of any greenhouse gas into the atmosphere, be it through the destruction of forests or the improper storage of removed carbon dioxide, should be brought down to zero. Driving change can be better defined as increased taxes, higher resource costs, regulatory compliances, fines and business risks for all industries finding it difficult to make a sustainability switch.
Preparing For The Change
In this new era businesses and leaders must take note of what’s important and sustainably possible. Fighting climate change is not only a tremendous global challenge but is also stimulating innovation and creating immediate business opportunities globally. The next step is to see how to expand the present startup configuration into a more broadly expanded, countrywide, ecosystem which would help ensure the long-term sustainability of the entrepreneurial/startup trend.
The answer lies in building a collaborative ecosystem infused with progressive technological growth and innovation. A value chain must be established to ensure a streamlined flow of unique insights, capabilities, data and knowledge, interconnecting databases of API-driven environmental parameters which aim towards a collaborative effort towards preservation and automates the next best action through deep analysis.
Technology Adoption in an Era of Sustainable Solutions
The need to strategically prioritize the adoption of a data-driven approach in business and creating a digital-first business model has stepped in. The use of Internet of Things (IoT) projects in collection of data from the host and third-party spaces to drive transparency, trust and better decision making is unquestionable. This incorporation in the business ecosystem will not only help monitor anything from air to power but also further XaaS models, enabling its providers to track product life cycle and its environmental footprint.
Additionally, to maximize co-benefits and minimize costs, analytics technologies will be asked to step in to steer invention, alter sourcing strategies and generate digital twins. Businesses must not get lost in the search for a perfect solution and instead seek resources based on renewable energy. The aim for emerging solutions towards sustainability must be to measure, reduce and offset a range of environmental and social impacts.
Corporate sustainability initiatives need to analyze the issues that are most relevant, set targets and track progress in order to contribute meaningfully. Businesses today require a dedicated approach to collection, management, analysis and interpretation of the database. Furthermore, digital ecosystems could be looked at to reshape the ecosystem by transforming how data can be used through interconnectivity to build an array of sustainable platforms. A collaborative effort to unlock insights around a specific challenge can help contribute toward system thinking, optimized processes and value for collaboration.