Enterprises all over the world have started rethinking their corporate objectives with the objective of reducing or eliminating the gap between sustainable operations and their financial goals. Sustainability is no longer an ad-hoc activity. It has become an integral part of enterprise corporate strategy.
Enterprises have started targeting the achievement of carbon neutrality and net-zero emission targets within specific timelines. However, they need a strategic plan that will take them closer to their goals.
This blog gives insights into how Net Zero with IoT-led Digital Solutions can help enterprises easily identify and reduce their global carbon footprints.
Reduction of Global Emissions
Scientists and climate experts refer to the adoption of Digital IoT Technology solutions across different sectors and sub-sectors to accelerate the drive towards net-zero emissions. They need a centralized view of the existing energy consumption and proportional emissions to take action.
Energy consumed by industries, heat, electricity and transport contributes almost completely to global emission. Though the lockdowns brought about by the pandemic initially reduced emission levels, they have now started going back up.
Emerging Climate Risks
Reports state that current carbon emission levels could lead to over 200 million people becoming climate refugees by the year 2050. This alarming statistic has increased the need for intervention using a number of proactive and preventive measures.
Ensuring Sustained Growth
There's been a paradigm shift in the way corporates deal with consumers. There is a far greater emphasis on customer satisfaction, pushing them to come up with more innovative transformation strategies. They no longer look at themselves as profit-driven corporate entities but as social partners.
The focus on climate protection initiatives can make its way into the value chain of companies. Corporates and enterprises can make full use of IoT and AI analytics to devise a customized plan for their operational needs.
Challenges in Adoption of Sustainability
A responsible sustainability model goes well beyond half-hearted measures with no follow-up actions. Enterprises need to have a clear and measurable action plan which includes and involves customers, employees, and investors. Clearly defined goals within a specified time frame, with periodic access to data and performance metrics, are just what enterprises need.
IoT-enabled digital technology solutions can help in accelerating transition and enhancing collaboration to achieve a net-zero global economy.
True Potential of IoT Enabled Technology Solutions
Digital IoT technology solutions don't just generate business value, but also make the journey to achieving net-zero targets easier.
The Department of Transportation in the US has already been working closely with car manufacturers to reduce road accidents by 80% using IoT technology. IoT applications have effectively helped smoothen traffic management, provide intelligent accident assistance, and enhance trip scheduling to achieve maximum operational efficiency. The combination of IoT and AI has simplified fleet management by providing deep foresight into critical information including the routes, traffic and vehicle speed to accurately predict how many trips are needed. This significantly reduces fuel consumption and emissions.
IoT-led digital technologies are expected to reduce global emissions by up to 15 percent in the next decade through customizable solutions. Corporates that operate in industries where emission rates are high, such as manufacturing or oil and gas have been leveraging data-led analytics to come up with a proper action plan to bring down their carbon emission.
Intelligent technologies such as IoT sensors can communicate and store data in the cloud for a deeper analysis to develop models and predict malfunctions before they occur. This will help significantly reduce costs associated with repairs, production disruptions, or workplace accidents caused by damaged equipment.
IoT and AI solutions have a range of applications to maximize renewable energy distribution models. Smart grid technologies can use real-time data inputs to disrupt the production of electricity and distribution to domestic and commercial consumers, using an accurate estimation of power usage to predict supply and demand. IoT technologies with machine learning abilities and AI-backed analytics can make renewable energy solutions for more efficient and cost-effective.
IoT technologies have even extended to farming. Smart farming enabled by IoT technologies makes it a lot easier for farmers to reduce waste, enhance productivity, and use water and electricity effectively.
Governments around the world have started embracing smart technologies to leverage data insights and increase cost efficiencies. When cities consume 78% of the world’s primary energy and account for over 70% of carbon emissions, smart technology can act as a key lever in enabling them to achieve important zero-carbon goals.
Multistorey buildings and shared workspaces use IoT sensors to control HVAC (Heating, Ventilation, and Air Conditioning), optimize resource management and reduce maintenance costs. Powerful AI-backed data analysis tools can give deep insights and provide real-time data to detect clear patterns in the energy consumption of an entire facility.
Moving in the Right Direction
The true potential of IoT technology lies in providing real-time data from multiple sources with AI-backed analytics. IoT can present enterprise-wide data in a single pane view to allow accurate predictions. If enterprises can predict their contribution to global emission and view both the associated financial and environmental costs, emissions can be made more sustainable.
The Inspirisys Digital IoT Technology Solution
The adoption of smart technologies is the key to a successful transition from committing to sustainability and implementing it. IoT will be an essential tool to achieve net-zero energy, by deploying technologies using real-time data to optimize processes and decision making. It helps modernize the energy sector using distributed, smart, and integrated networks.
At Inspirisys, we help you transform your enterprise and achieve higher levels of digital transformation through our innovative business models. Our IoT solution portfolio and vast experience in IoT help you accelerate your ideas and innovation to the market, immediately translating your IT savings into a business advantage.
Let us help you win the race to achieving net-zero targets and for a sustainable future. Get in touch with us.