By Johan Potgieter, cluster industrial software lead at Schneider Electric.
Johan Potegieter.
With COP 28 approaching, and the globe experiencing record highs and lows in temperature, organisations are now in earnest prioritising the move towards a greener, more sustainable business operations. The case has been made and our role as custodians for the environment cannot be overstated. However, going green also makes business sense, delivering tangible benefits such as cost savings, regulatory compliance, enhanced competitiveness, innovation, diversification, and enhanced brand reputation. It ticks several important boxes and should, if anything, incentivise business to take the next important steps to realise these benefits.
Interestingly a Harvard Business Review article published almost 30 years ago entitled It’s Not Easy Being Green argues: “… being green is no longer a cost of doing business; it is a catalyst for innovation, new market opportunity and wealth creation”.
By investing in green energy sources and implementing energy-efficient operations, businesses can reduce their energy consumption and save on energy bills − a no-brainer really. By implementing sustainable practices, organisations can enhance their competitiveness by again reducing costs, while increasing their operational efficiency and improving their brand reputation.
Going hand in hand with brand reputation is compliance and regulation. Investing in green energy sources and implementing more efficient operations will assist organisations in meeting regulations and avoiding penalties. Furthermore, this investment can also foster innovation and diversification by encouraging the development of new products and services within new, greener business models.
Financing greener operations
The above already makes a firm business case, but from a financial point of view the benefits are also significant. Here organisations can implement the following strategies towards greener, financial operations:
• Sustainable investing: businesses can invest in sustainable funds, portfolios or individual companies that prioritise environmental, social and governance (ESG) factors.
• Implementing a green procurement policy: organisations can prioritise suppliers that have sustainable practices, and reduce the environmental impact of their supply chain by purchasing eco-friendly products and packaging. Organisations can also support sustainable purchasing by encouraging employees to buy eco-friendly products and office supplies which are in line with its green procurement policy.
• Sustainable financing: businesses can gain access to sustainable financing options such as green bonds or sustainability-linked loans, which are tied to sustainability targets and incentivise companies to improve their ESG performance.
• Carbon pricing: companies can implement internal carbon pricing mechanisms, which involve assigning a monetary value to carbon emissions to incentivise reductions in greenhouse gas (GHG) emissions, to promote more sustainable practices.
• Reporting: organisations can report on their sustainability performance to stakeholders, including investors, customers and employees. This will improve transparency and accountability, bolstering a company’s reputation and financial performance.
Overall, a sustainable finance perspective requires a focus on long-term sustainable growth, integrating environmental and social considerations into its decision making while fostering a culture of sustainability within an organisation.
Optimising the product design process Siemens South Africa
IT in Manufacturing
OPmobility is partnering with Siemens to adopt its Teamcenter X Product Lifecycle Management software. OPmobility’s increasingly complex products now include electronics and software, to create energy storage systems, which include battery and hydrogen electrification solutions and fuel tanks.
Read more...Why turbomachinery should break free from vendor lock-in Schneider Electric South Africa
Motion Control & Drives
Today’s modern turbomachinery control systems form an important of operational efficiency, be it in heavy industries, traditional power generation or renewables such as hydroelectric facilities. Independence is the name of the game, and turbomachinery stands to gain lot from this newfound freedom.
Read more...Smart milling for resilient, sustainable food production
IT in Manufacturing
As the global demand for food continues to rise due to increasing urbanisation, the milling industry faces the challenge of balancing efficiency with sustainability. Bühler is committed to making milling more energy-efficient while maintaining high operational performance. Its solutions allow mills to reduce energy costs and ensure long-term sustainability.
Read more...The evolving landscape of data centres in the age of AI Schneider Electric South Africa
IT in Manufacturing
The data centre industry is undergoing a period of rapid transformation, driven primarily by the explosive growth of AI. It’s clear that the demands of AI are reshaping the very foundations of data infrastructure. This isn’t merely about incremental upgrades; it’s a fundamental shift in how we design, power and operate these critical facilities.
Read more...Monitoring partial discharge on medium voltage switchgear Schneider Electric South Africa
Electrical Power & Protection
Schneider Electric South Africa has launched its EcoStruxure Service Plan (ESP) in the Anglophone African region for medium voltage (MV) switchgear
Read more...SA Food Review
IT in Manufacturing
Food Review is a monthly trade journal for South Africa’s food and beverage manufacturing industry, for industry professionals seeking detailed information on trends, technologies, best practices and innovations.
Read more...Keeping an eye on oil consumption with moneo ifm - South Africa
IT in Manufacturing
Manufacturing companies in the metal industry need oils and other fluids that are consumed by their machines. To make this consumption transparent and to establish a link to the ERP system, Arnold Umformtechnik relies on the IIoT platform, moneo, in combination with the SAP-based software solution Shop Floor Integration (SFI) – both from ifm.
Read more...AI accelerates energy transformation RJ Connect
IT in Manufacturing
With the rapid expansion of generative AI applications, data centre power demand is reaching unprecedented levels.
Read more...Revolutionising mining operations with MineOptimize
IT in Manufacturing
Now more than ever, mining and mineral processing companies need to boost productivity, ensure safety, and protect the environment. ABB’s comprehensive electrification, automation and digital solutions portfolio is ideally positioned to meet these challenges across all mining processes, from mine to port, transforming performance in a digital world.
Read more...Buildings in Africa’s urban evolution Schneider Electric South Africa
IT in Manufacturing
Africa is now an urban continent. How does the continent mobilise to accommodate urban dwellers and maintain and implement critical infrastructure that allows for this expansion? Building management systems provide a tangible solution to optimise resource use, lower operations costs and ultimately contribute to a growing continent that also employs green practices.
printer friendly version