A Schneider Electric, which works with digital transformation and energy management and automation, and the Om Day, a technology research and consultancy group, carried out a study to better understand the sustainability goals of industries and the maturity of its initiatives related to the topic.
In total, more than half (57%) of those interviewed intend zero net greenhouse gas emissions. As a result, they are more likely to name reduced energy consumption as a key factor in their decision to invest in operational sustainability initiatives, and 49% also expect to improve their performance and cost savings.
However, the report noted that although industrial companies are setting ambitious targets, around half (48%) of them have not yet taken the necessary steps to achieve them and less than a third (30%) are on track to achieve them. your goals.
This represents, according to the research, a significant opportunity for industrial action on sustainability initiatives and the potential for immediate and lasting change.
Technology drives sustainability initiatives
The research analyzed hundreds of food and beverage, life sciences, semiconductor and electronics, chemical, oil and gas and automotive industries in North America, Europe, the Middle East, Africa and Asia.
Interviewees also represented companies of various sizes. Leaders in these sectors understand the value of technology in measuring and reducing their environmental impact.
Companies are exploring a range of solutions to improve their sustainability, directly or indirectly. They identified the top five technologies that will have the greatest impact on their initiatives:
- Automation;
- energy management systems;
- Cloud technologies;
- Supply chain monitoring.
“Investment in these areas is already taking place: 54% of respondents are already using digital twin technology to (re)design facilities with sustainability in mind, and more than 50% plan to implement energy and energy management systems. renewable energy within three years”, pointed out the study.
G-20 countries provide almost US$700 billion in for fossil fuels
Barriers to be overcome
While some challenges are technological, Schneider Electric and Omdia highlighted organizational barriers to overcome. Almost a quarter (23%) of respondents cited competing priorities as a problem, while cultural change is a challenge for 19%.
Many noted that sustainability initiatives require a driving force behind them, with 78% of respondents reporting that a C-suite executive is responsible for their organization's efforts.
“The manufacturing industry is increasingly understanding the value of sustainability and efficiency goals. There is now clear evidence that valuing people and the planet leads to greater profits,” said Bárbara Frei, executive vice president of Industrial Automation at Schneider Electric.
“However, change will require an evolution of traditional thinking, making sustainability and well-being a central part of processes, hardware, software and organizational culture to identify inefficiencies and waste. This is where the next generation of the industry begins,” he emphasized.
Strategies for success
According to the companies, for sustainability goals to be met, a clear strategy and data are needed to them. “Technology will be a key enabler, including detection and visualization tools to capture information and derive actionable insights.”
“There is a great opportunity for industrial companies. Many have energy- and waste-intensive operations to contend with. The use of renewables, recycling and circular models will not only benefit the environment, but also provide a significant return on value,” commented Alex West, Senior IoT and Sustainability Analyst at Omdia.
“With metrics to prove the impact of their sustainability initiatives, leaders can attract employee buy-in and justify further investment – it’s a virtuous cycle,” he concluded.
