March 24, 2022 - 341 views|
Here are some of the most impactful actions and investments businesses can make to reduce their environmental impact.
It’s long been assumed corporate climate response would take a backseat during times of global recession or tragic loss of life, as we are seeing today. But the pattern is clear — there’s no separating the climate crisis from the human reality in which we all live.
Even through these extraordinary times, companies can continue the quest to deliver alternative market-based solutions and advance climate and equity.
As net zero commitments (which promise to eliminate or offset all greenhouse gas emissions across operations and supply chains) took hold in the corporate world, companies with large carbon footprints — such as airlines and manufacturers — led the way or at least caught the first limelight. Now, with those industries firmly aware of the need for corporate climate action, it’s time for companies with smaller carbon footprints to lead.
Every company should determine which levers will have the greatest impact within the construct of its current ecosystem. At Cognizant, we assessed several investments and opportunities to help us reach our own net zero goals. The areas companies should consider include, but are not limited to, the following:
Technological advancements will play an integral role in making businesses more sustainable. We’re seeing businesses apply technologies to reduce a range of environmental impacts within their daily operations.
For example, we worked with a global shipping company to establish a data platform that analyzes more than 1,000 sensor inputs from 75+ vessels in real-time. Using these insights, the business reduced fuel consumption by continuously optimizing vessel speed and position. The company’s data strategy and modern cloud-based data platform support intelligent, automated and data-driven processes. Steered by advanced analytics and machine-learning models, these processes enable the shipper to compile comprehensive decarbonization reports.
We’re also enabling a global pharmaceutical organization to reduce energy and water consumption through data and analytics tools that allow the company to clearly view the status of water, steam and electricity use. These insights allow them to clearly see energy-savings opportunities.
The opportunities to improve sustainability extend across industries and the world: We’re helping a utility company generate renewable energy through smart meters, a farming company improve crop yield through data management, a US healthcare payer enroll members via a process that eliminates paper. These are just some of the ways businesses can leverage technology to create a more efficient and carbon-friendly world.
Lastly, but certainly not least, we cannot ignore the collective power within large companies. Cognizant is 330,000+ people strong across the globe — that’s more people than some cities. Companies have the obligation to seize the opportunity to create a community of knowledgeable citizens. Some things to consider include:
Not only will these collective efforts impact our environment, but they will also enhance company culture. These simple steps will empower employees with the tools and know-how to help the companies they work for generate meaningful corporate change.