The Intersection of Sustainability and Technology - How Technology Can Be Leveraged to Achieve Environmental Sustainability Goals

In this article, Kavya Hari and Jaya Jain say that an ecosystem approach entailing the key stakeholders, including enterprises, policymakers, and public and private investors, would accelerate the deployment of climate technologies, and enable climate resilient growth and achievement of environmental sustainability. This would facilitate the transition to a global net-zero economy by 2050 and bring us closer to achieving the goals of the Paris Agreement.

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Impact of Technology on Sustainability

Achieving the goals of the Paris Agreement requires global greenhouse gas (GHG) emissions to be reduced to 50 per cent (of current levels) by 2030.1 Capital and technology are two critical factors that can enable climate resilient growth and achievement of environmental sustainability. It is estimated that mature climate technologies could deliver around 60 per cent of emission reductions required for stabilizing the climate by 2050, if deployed at scale.

There are multiple examples to demonstrate how technology is a critical lever in enabling sustainability—both at an organizational and sectoral level. Technologies play a critical role in paving the pathway towards sustainability by providing solutions to improve efficiency, reduce resource consumption, and enhance resilience. Energy efficient technologies (especially digitally integrated technologies such as energy management systems, smart meters, and sensor, etc.) optimize energy usage in applications, buildings/industries, and transport systems; thereby reducing fossil fuel consumption and emissions. According to the International Energy Agency, deployment of energy efficient technologies (like LED lighting, efficient appliances, and smart thermostats) enabled higher reduction in energy consumption by up to 15 per cent in 2021.2