How technology and collaboration can accelerate decarbonization

How technology and collaboration can accelerate decarbonization

  • Technology
  • May 24, 2022
  • No Comment
  • 65
  • 13 minutes read

  • Accelerating the application of innovative decarbonisation technologies can help address the crisis of climate change.
  • Public-private partnerships can leverage these innovations across the value chain to help reduce carbon emissions.
  • But we need a set of frameworks and policies supported by governments, business and civil society to enable a sustainable recovery.

With the notion of “now or never” hanging over us, should we be afraid or optimistic? I remain optimistic. First, we already have the technology, and second, we all recognize that none of us can do it alone. By accelerating the application of critical technology, we have a unique opportunity to help solve the world’s most pressing challenges together. Challenges such as meeting the Paris Agreement goal of limiting global warming to 1.5 ° C.

We want to create a more sustainable and equitable future for all by using technology on purpose. We are already providing decarbonization technologies to critical industries to make a difference in the world, and we believe in the power of innovation and its impact as it expands. With the latest IPCC report stating that it is “now or never” limiting global warming, the momentum the business can give is crucial.

Looking beyond technology, companies like Siemens have the scope and reputation to act as a “convener” and facilitator of key players in the industry. Progress can be significantly accelerated if we abandon silos and work together in powerful ecosystems. These “networking networks” allow companies to join forces and co-create. As more partners come together, ecosystems get new products and services to market faster; they accelerate change, create new sources of revenue, and facilitate public-private partnerships. They are powerful tools for dealing with complex issues.

The total value of the “value chain”

By bringing players together in ecosystems, the total result is greater than the sum of the parts. Take the manufacturing industry as an example. Between 70 and 90% of a product’s carbon emissions occur along the value chain. For this reason, it is essential to achieve transparency and to monitor emissions throughout this chain in order to reduce the carbon footprint.

Estainium is an answer to this. Launched by Siemens in late 2021, it is an open network that allows manufacturers, suppliers, customers and partners to exchange reliable data on the carbon footprint of their products. This brings us one step closer to carbon neutrality and accelerates the climate transition.

One industry at the forefront of this transition is the automotive sector. Here, too, the open exchange of data between companies is being sought within a European ecosystem in which automotive manufacturers and suppliers, dealer associations and equipment suppliers can all participate equally.

This network of partners, of which Siemens is a founding member, is Catena-X. It is clear that an ecosystem that brings together all actors, including larger and more established companies and SMEs, is much more likely to improve efficiency and drive decarbonisation.

A matter of trust

These ecosystems are developing with a diversity of partners, but they need the genuine commitment of all. And this can be achieved by creating a database of trust and security. The willingness of companies to share data must be protected against the unintentional (misuse) of such data which would jeopardize their own competitiveness. This requires an ecosystem with full data sovereignty.

When it comes to Stainium, distributed logging technology is being used to ensure both a high level of data protection and reliability. And since there is no centralized storage, each party maintains full sovereignty over the data. For Catena-X, the companies involved have agreed on the International Data Spaces (IDS) standard for data sovereignty.

The power of the private and the public

For collaboration to be successful, it must be supported by frameworks provided by strong institutions such as the EU. These include clear pathways to creating a level playing field and taxonomies for policy, regulation and outreach in all markets. The EU taxonomy, a key factor in the EU Green Pact’s legislative package, is a good example.

Climate change poses an urgent threat that requires decisive action. Communities around the world are already experiencing an increase in climate impacts, from droughts to floods to rising seas. The World Economic Forum’s Global Risk Report continues to rank these environmental threats at the top of the list.

To limit the rise in global temperature well below 2 ° C and as close as possible to 1.5 ° C above pre-industrial levels, it is essential that companies, policymakers and civil society take action. comprehensive short- and long-term climate change in line with the objectives of the Paris Agreement on Climate Change.

The Climate Initiative of the World Economic Forum supports the escalation and acceleration of global climate action through the collaboration of the public and private sectors. The Initiative works through several lines of work to develop and implement inclusive and ambitious solutions.

This includes the Alliance of CEO Climate Leaders, a global network of business leaders from a variety of industries who develop cost-effective solutions for the transition to a low-carbon, climate-resilient economy. CEOs use their position and influence with policymakers and corporate partners to accelerate the transition and realize the economic benefits of providing a safer climate.

Contact us to participate.

The move to allow decarbonisation by electrifying the energy needs of our economy, whether in the industrial, infrastructure or mobility sectors, is a clear case of where technology companies and regulatory institutions should of working hand in hand to accelerate. a sustainable recovery.

A positive outcome requires multiple stakeholders on board

An example that many people can relate to today is the adoption of electric heaters (also known as power-to-heat) and electronic charging technology, along with the integration of renewable energy sources. In terms of technological solutions, there is the heat pump and electric vehicle charging hardware, as well as cutting-edge network software and control tools to balance generation, consumption and demand.

So what do we need to take to the next level? To name just a few areas: policies to encourage large-scale adoption of heat energy systems and a regulatory framework, including regulations to support smart grid management and coordination with network operators , for example by state-of-the-art devices installed in all electronic heaters. and electronic chargers. Therefore, a positive outcome would depend on collaboration between multiple stakeholders: governments, businesses and the general public.

Governments and businesses also have a role to play in encouraging investment in the climate transition. Investment in renewable energy reached $ 322 million in 2018 and continues to increase, according to IRENA. However, it is still well below the level needed to meet global climate goals. In fact, the IPCC report found that financial flows are three to six times lower than the levels needed by 2030 to limit warming below 2 ° C; however, there is enough global capital and liquidity to close the investment gaps. Once again, collaboration, between governments, companies, private investors and financial institutions, is needed to move the needle in deploying this capital to the right projects in the right places.

Creating value for all stakeholders

Businesses are a powerful force for sustainability, and vice versa. Companies that provide technology on purpose can help solve the world’s biggest challenges. It is working on ecosystems – with customers, suppliers, institutions, investors and society at large – that will further accelerate progress. This underscores our belief in Siemens that what is good for business and what is good for people and our planet go hand in hand.

Source link

Related post

EDUCAUSE 2022: How Data Collection Can Improve Student and Faculty IT Support

EDUCAUSE 2022: How Data Collection Can Improve Student and…

At Indiana University, Gladdin said, to make life easier for students and faculty, they implemented a course template for the Canvas…
UGC, AICTE warn students against online PhD programmes offered by EdTech platforms | Latest News India

UGC, AICTE warn students against online PhD programmes offered…

The University Grants Commission (UGC) and the All India Council for Technical Education (AICTE) on Friday issued a joint advisory against…
UGC, AICTE warn students against online PhD programmes offered by EdTech platforms | Latest News India

UGC, AICTE warn students against online PhD programmes offered…

The University Grants Commission (UGC) and the All India Council for Technical Education (AICTE) on Friday issued a joint advisory against…

Leave a Reply

Your email address will not be published.