Topic #1: What will be the role of digital technology in the global race to net zero?
As the COP 27 begins this week, we want to give you a sneak peek of what the next digital technology trend could be in a world where we strive to achieve net-zero.
Technology and digital innovation are significant instruments that can play a critical part in promoting sustainable economic aspirations, even while there is no "one size fits all" answer to climate change. Reducing emissions is one method in which this is particularly important. While the technology industry only contributes around 2% of the world's emissions, the solutions it offers are a crucial tool for addressing the remaining 98%.
The role of digitalization in causing climate change has been a topic of discussion over the years. But it can be the secret to promoting sustainable policies, laying the groundwork for a strong global economy, and utilizing tech-driven change for environmental advancement. In the future, we can realize new ways to digitally reinvent energy, land usage, waste, water, transportation, manufacturing, as well as manage buildings more efficiently. This will be possible thanks to human inventiveness and ongoing technological advancement. But for this vision to become a reality, there must be a coordinated, quick, and cooperative effort throughout all spheres of society.
As the battle to reach net zero intensifies, many businesses are rising and accepting accountability. But since we are all participating, there is no clear winner in this race. Businesses must develop further and collaborate to scale successes if net zero is to become a reality. It's a very difficult task. When paired with a readiness to act, digital innovation across important industries can help us move towards a better tomorrow. Artificial intelligence, machine learning, edge computing, cloud computing, and data analytics are just a few examples of the technologies that can significantly reduce emissions. Policymakers, investors, and consumers are strongly reminded by net-zero commitments of the urgency with which we must address the current crisis.
There will be no shortcut to fix the issues we have now, and learning will be a key step in the process to solve those issues. We already started to investigate operational emissions, but it is just one part of the equation and, for digital players, often represent a small percentage of their total footprint.
At Move Capital, we are dedicated to this process and are proud to announce our collaboration with Greenly in order to assess our the carbon footprint of both our organization and our portfolio companies. We believe it is the necessary first step in the 3-step process we aim to pursue: assess, reduce, and offset.
Topic #2: What makes a City "Smart"?
In a "smart city", existing networks and services are enhanced with digital technologies for the benefit of locals and businesses.
Beyond utilizing digital technologies to better manage resources and reduce pollution, a smart city goes above and beyond. It entails improved water supply and waste disposal systems, better urban transportation networks, and more effective building lighting and heating systems. It also entails creating a local administration that is more responsive and engaging, making public areas safer, and addressing the requirements of an aging population.
Cities are becoming more liveable and responsive as they become smarter; yet this is only the beginning of what technology may be able to accomplish in cities in the future.
Up until recently, smart technologies were generally seen by city officials as a means of improving administrative efficiency. The lives of the locals are now being more directly impacted by technology. Millions of people now have fast access to information about public transportation, traffic, health services, emergency alerts, and local news thanks to smartphones.
Numerous aspects of quality of life, including safety, time and convenience, health, environmental quality, social connection and civic engagement, employment opportunities, and cost of living, could be impacted by smart city applications (see interactive). The wide range of results reflects the reality that applications perform differently based on factors such as baseline starting points and legacy infrastructure systems from city to city.
The environment can be made cleaner and more sustainable via smart cities. Environmental pressures increase as urbanization, industrialisation, and consumption rise. According to a McKinsey Global Institute analysis, applications like building automation systems, dynamic electricity pricing, and some mobility apps might all work together to reduce emissions by 10 to 15 percent.