Introduction:
Climate change is making headlines globally in such a way that it is not good news for mankind. The natural catastrophes that the world has faced in recent years stress the need for ‘action’ like never before. In this blog, we will take a look at some of the recent and ongoing environmental crises around the world, the role of global businesses and organisations in fighting climate change, and the technology (and AI, in particular) available to fight climate change. We will also look at some global businesses that are already using technology to fight climate change. Lastly, we will look at the prospects for climate technology and the opportunities for businesses to harness the technology.
A worrying and increasing trend of devastating climate change phenomena
We have witnessed several incomprehensible natural calamities, like the wildfires In Canada, Australia, Greece, and Chile. There have been instances of record-breaking rainfalls in Asia, Italy, the US, South America, and Southeast Africa. Our world is experiencing record-high temperatures in the most unlikely parts of Europe, Asia, and the Americas. The rising number of typhoons in Asia should be considered a big warning of the changing climatic conditions that are making it more conducive to these frequent calamities.
In other words, the situation is not good, and if we want to avert the forecasts, we must act now to combat climate change. This entails taking personal responsibility for our carbon footprints and urging political and business leaders to listen to the science and implement the urgent, comprehensive, and ambitious reforms required to combat climate change. These reforms include reducing carbon emissions, achieving a just transition to clean energy, and ensuring that the most vulnerable nations can withstand increasingly frequent natural disasters.
How can we fight climate change?
Sustainability goals have become an irreplaceable part of corporate business strategy in most organisations, big or small. The corporate world is abuzz with terms like ‘sustainability’, ‘carbon neutrality’, ‘net-zero’, ‘zero carbon’, etc. However, it will take a tremendous amount of work to develop, perfect, and implement climate technologies—those specifically designed to accelerate decarbonization. This is crucial to achieve net-zero CO2 emissions by 2050 (as per the international consensus at COP21). As the popular business saying goes, “We can’t manage (and reduce) what we don’t measure”.
Global businesses and technology in the fight against climate change
Thanks to technology, today we have access to more sophisticated and elaborate climate data compared to the last century. The need of the hour is, how we access this data, interpret it, and use it to predict future climate events. Thus, we can be better prepared to face the future events that climate change might bring. Many organisations are turning to technology like artificial intelligence (AI) to cut carbon emissions and improve energy efficiency.
According to David Jensen, coordinator of the United Nations Environment Program’s (UNEP’s) Digital Transformation sub-programme, “AI refers to systems or machines that perform tasks that generally demand natural intelligence, and can iteratively enhance themselves over time, grounded on the information they collect.”
Jensen identifies numerous areas, such as developing more energy-efficient buildings, monitoring deforestation, and maximising the deployment of renewable energy sources, where AI can help address environmental concerns. He continues, “This can happen on a big scale, like satellite monitoring of global emissions, or on a smaller scale, like an intelligent house automatically shutting off lights or heat after a set time.
Global businesses working with technology to fight climate change
These are some instances of businesses that are working on AI and other types of technology, either independently or in partnership, to tackle climate change. Business leaders of all sectors across the world must take note and follow suit immediately. They must examine how their companies affect the environment to address the grave challenges posed by global warming to our planet.
Examples of businesses using technology to fight climate change
- Students in Southern California have launched ‘Carbonisbad’, a platform where users can estimate their carbon footprint using an emissions calculator and select projects they wish to support, ranging from anti-deforestation efforts to renewable energy campaigns.
- Green RWA and Finastra launched the Climate-Extended Threat Model (CERM) Sandbox, which offers an interactive and immersive experience for banks to understand and manage climate hazards in a simple and accessible manner. By integrating the physical and transition threats into the existing capital architecture, their result extends the current credit threat models used by banks, furnishing a comprehensive approach for associating long-term, global, and evolving climate threats and enabling more accurate computations of possible losses.
- Sustain.Life, a SaaS platform helping companies across industries measure, manage, and report their environmental impact, has partnered with Planet6 in Australia, a cloud-first technology service provider focused on sustainability. This strategic partnership enables organisations to achieve their ESG goals, including net-zero emissions, by empowering them with the right tools and resources in the fight against climate change.
- Infosys, a global leader in next-generation digital services and consulting, in collaboration with the ATP, the governing body of men’s professional tennis, has launched a new digital Carbon Tracker to make tennis more environmentally responsible. This feature is hosted within the existing ATP PlayerZone app and enables players to track and counteract their carbon emissions while travelling to tournaments around the world. The tool allows players to declare their journey data and classify the mode of transport taken to each event, calculating the associated emissions traces. It’ll in turn enable players to make conscious journey choices and alleviate their carbon impact.
- Ivanti, a tech company, joins hands with Greenly, a leading carbon accounting platform. Greenly’s cutting-edge carbon accounting capabilities enable Ivanti to accurately and effectively measure, manage, and reduce its carbon emissions across operations, allowing the company to identify areas for improvement and strengthen its sustainable practices.
Technology tools available to fight against climate change
Here are some software tools available today for businesses to calculate their carbon footprint. These tools help businesses to analyse and recognise areas that need improvement, and implement the necessary corrective actions. Some of these carbon footprint calculator tools are powered by AI and provide green suggestions.
1. CO2 AI by BCG:
The AI-driven carbon footprint program called CO2 AI was designed by the consulting firm BCG. The greenhouse gas emissions of the organizations are taken into consideration, but CO2AI is still able to predict the impacts of desired activities on the GHG emissions of enterprises.
Companies may track their progress and report their carbon impact with the help of CO2 AI.
2. Carbon Footprint/Sustrax:
Sustrax is a cloud-based solution that takes care of your environmental reporting requirements. It is a tool that businesses may use to assess their GHG emissions and receive help with publishing their ESG reports.
Conclusion:
The use of machine learning analytics and artificial intelligence algorithms can benefit businesses, communities, and people in many different ways. From manufacturing to transportation, there are numerous areas where carbon emissions might be decreased. The use of AI-driven technology and software to solve climate change-related problems has enormous potential. As businesses continue to create and build products with AI that cut emissions, the race is on. The time has come to pick up this pace and profit from technology’s ability to lower carbon emissions, which will help save Mother Earth.
Blog by Amith Raj
More blogs by the same author:
The rise in social media influencers – a trend or fad?
Some interesting reads on business initiatives related to climate change:
L&T Technology Services teams up with Thales to tackle climate change
University students behind Carbonlink launches Carbonisbad against climate change
Green RWA and Finastra launches a new platform for climate risk management
Landscape architecture: The unsung profession at the forefront of climate action
Infosys and ATP collaborate to launch Carbon Tracker
Universal Hydrogen fruitfully completes first flight of Hydrogen Regional Airliner
DEWA and ENOC signs MOU for the use of hydrogen in mobility
Green NCAP launches LCA tool, gives global environment footprint of cars
Google Cloud creates an advisory council for its point carbon zero program
