Climate change at the forefront of the media, political and societal agenda
The news has been marked by multiple climate disasters in the last few months: heat domes in Canada, torrential rains in Germany and Belgium, mega fires in Siberia, etc. Awareness of the climate emergency has become clear, reinforced by the “red alert for humanity” in the latest IPCC report. Faced with this, the States are significantly increasing the ambition of their climate policies: the “fit for 55” legislative package in Europe, and the massive infrastructure investment plan in the United States, for example. Far from being outdone, consumers are expressing increasingly strong expectations for sustainable products and services. Finally, students are now questioning their career choices in the light of corporate social responsibility.
Sustainable development at the heart of corporate strategies
Faced with regulatory constraints and the growing expectations of consumers and their employees, companies are now placing climate change and, more broadly, sustainable development at the heart of their strategy. Historically dealt with by CSR departments in an approach essentially based on risk management, sustainable development is now asserting itself as a source of opportunity and competitive advantage for success in the marketplace.
The transformation affects all economic sectors
At the root of the climate problem, the major energy companies are reshaping their business portfolios to invest heavily in renewable energy and energy services. Car manufacturers are moving rapidly towards electric vehicles, transforming their production lines and developing shared mobility services. With crucial leverage, banks and insurance companies are assessing the sustainability of their asset portfolios, reorienting their investment policies and supporting their clients in the transition. Heavy industry is looking at process electrification and hydrogen, while retailers are mobilising their supply chains and developing the circular economy and second-hand markets.
A profound transformation at all levels
The transformation that is taking place is on an unprecedented scale and represents a colossal challenge for companies. It affects their business portfolios, business models, products & services, production units, supply chains… not to mention the indispensable cultural and managerial transformation, which is particularly complex to carry out in large companies! There is no doubt that the success, or even the survival of companies in the coming decade will depend particularly on their agility and their ability to reinvent themselves, with a raison d’être that mobilises employees and all stakeholders.
Sustainable Tech
According to the Union of Concerned Scientists, if the digital sector were a country, it would be the fifth largest emitter of greenhouse gases in the world, accounting for 4% of global emissions, just behind China, the US, India and Russia. The impact of digital technology on the environment is already significant and constantly increasing: large companies and organisations must therefore act now to identify the issues and activate the right levers for change. The virtual face of digital technology hides physical equipment and infrastructures that have a very large environmental footprint, particularly during the manufacturing phase.
Digital responsibility is a continuous improvement approach that aims to improve the ecological and social footprint of digital technology. According to the government’s website, “Responsible Digital includes Green IT to reduce the environmental footprint at the IT department level, IT for green, which puts digital technology at the service of sustainable development, and the responsible design of digital services”.
In October 2020, Wavestone joined forces with Syntec numérique to launch the Planet Tech’Care platform, which aims to support companies that are committed to integrating digital technology into their environmental strategy, and to support training providers in the development of responsible digital skills. One year later, our firm signed the Responsible Digital Charter, which commits us to the continuous improvement in this area for ourselves and for all our clients it seeks to involve in this issue. Wavestone has a strong “Sustainable Tech” community, capable of providing the depth of expertise needed to address the challenges of digital responsibility. On this page, you can find our convictions through our insights and our concrete progress through our success stories.
Sourced from Wavestone