More and more businesses are discovering the link between sustainability and profitability. A recent report stated that sustainability benefits the bottom line through five different levers.
- facilitates top-line growth
- reduces costs
- minimizes regulatory and legal interventions
- increases employee productivity,
- optimizes investment and capital expenditures
Additional research showed that the pandemic heightened customers' focus on sustainability, and an increasing number of activist shareholders are demanding sustainability from companies. Ultimately this means that sustainability should be a top agenda item in every boardroom.
The drive for sustainability can also be referred to as ESG, short for environmental, social and governance criteria, which is essentially a set of standards for a company's operations that socially conscious investors use to screen potential investments.
ESG is an effort with many moving parts, but making companies compliant with the ESG criteria is also compatible with digital transformation.
The World Economic Forum says 5G-powered MPN solutions will be bringing changes that we can't even imagine, and thanks to emerging technologies that include IoT, the factory will self-optimize performance across broad networks.
IoT sensors are also linked by 5G and are strategically placed throughout the facility to track water and electricity usage. Lights will go off when no one is in the area, and when the sun is out, the lights dim in order to take advantage of the natural light and vary in intensity depending on the number of people in the room or the weather.
Essentially, there are countless ways for IoT and 5G to aid sustainability goals. The processes are starting to get enacted across the globe, and savings and efficiencies are being introduced in every sector. Ultimately, these technologies will pave a path for us to meet ESG goals.