Rise of Technology and AI in Sustainability

GovEVA is pleased to feature What On Earth!®, a cartoon series to mainstream sustainability, from the think tank Council on Energy, Environment and Water (CEEW). This collaboration should, however, not be viewed as an endorsement of either organisation’s policies or views.

Is the World ready for Green Tech?

Green Tech = Clean Tech = Sustainable Tech

Green tech is an umbrella term to describe innovate technology which is developed for the purpose of minimising environmental impact and maximising long-term sustainability. Green tech balances environmental, social and economic concerns.

Both hardware and software can qualify as green tech. Wind turbines to promote energy efficiency, aluminium which can be repeatedly recycled without losing quality, and AI enabled ESG analytics to track and improve sustainability performance, are all green tech.

The UNCTAD (United Nations Conference on Trade and Development) evaluted 166 countries on their level of preparedness to start using frontier green technologies, a measure of sustainability intent. India ranked 46th.

Governments play a critical role; selecting regulatory frameworks, setting national sustainability targets and providing incentives to encourage the adoption of green tech. Hence green tech should be integrated with social and policy initiatives to maximise adoption and impact.

The Indian government’s Production Linked Incentive scheme for manufacture of green tech, Green Term Ahead Market system to facilitate the sale of renewable energy, Rooftop Solar subsidy to encourage households to invest in sustainability, and similar policies, have enabled India to climb to 4th rank in wind, solar, and renewable energy installed capacity. Today, total non-fossil-fuel based power accounts for 42% of India’s installed electricity generation capacity, well on the way to achieving the national target of 50% renewable energy by 2030.

Digitalisation and AI

Artificial Intelligence (AI) plays a facilitatory role to boost the utility and benefits of ESG reporting technology:

  • Validate With ESG data under constant scrutiny by customers and regulators, the demand for data integrity and auditability is on the rise. AI excels in this sphere by automating data validation, cross-checking information, identifying anomalies and highlighting inconsistencies. Thus AI increases the credibility of reported data, while technology and digitalisation facilitate auditability.
  • Analyse AI embedded in specialised ESG software, plays a crucial role in running diagnostics, trend analysis, forecasting and modelling. By leveraging data, AI provides comprehensive and insightful analytics that aid decision making.
  •  Automate AI competencies create reports in multiple frameworks, using differentiated standards, without additional human efforts.

 

 Coming Up Next..

Each month GovEVA’s ESG in Practice features a different topic, relevant to industry in their ESG journey.

● Growth of the Voluntary Carbon Market

● The Risk of Greenwashing

● Pathway to Net Zero

VOTE HERE for what YOU want to read about.

Numbers speak

EU leads the globe by mandating recyclable packaging. Currently packaging accounts for 40% of plastics and 50% of paper used in the EU. European Council
of investors Say Greenwashing is a growing problem. EY, Institutional Investor Survey 2024

of Indian CEOs expect ESG investments to yield returns in 3 to 5 years.

KPMG, ESG in the age of AI 2024

5 Million+ Customer Transactions Each Month

  • 107 Mn tco2e GHG calculated, managed, monitored
  • 1.7 Mn employees DEI Metrics
  • 150 jurisdictions covered
  • 865 Mn litres water W-U-D tracked
  • 5.6 Mn MT waste G-D-R tracked

AI-Powered ESG Management
and Reporting, Enabled by Domain Experts