In a time when the planet is under tremendous pressure, facing the threat of complete environmental degradation, it is clear that company profits and strategies cannot exist in isolation. This becomes even more important when considering how sustainability initiatives impact the organisational bottom line. This is perpetuated by realities such as power and water shortages, and the question of how to contribute to the circular economy. Consumers are readily adapting and becoming more mindful of when and how they consume the planet’s valuable resources. This shift in consumer behaviour sets the tone for companies and their sustainability endeavours.
Sustainability is not an ‘either-or’ scenario. It should be integrated within the very foundation of organisational processes and operations. It is important that when businesses examine their organisational processes, they do so with sustainable practices in mind.
Furthermore, embracing sustainability is not just an environmental concern; it encompasses various socio-economic elements like skills development, diversity, and corporate governance. This is not just an optional add-on, it forms a critical part of a company’s identity and brand.
Realising the greener economy
It is also important to consider the scalability of sustainability initiatives. Many companies start with small kilowatt inverters, which offer room for expansion and growth. This is precisely what we advocate: lay the foundation and build on it.
The goal is to avoid a situation where you are forced to make a sudden, disruptive change. Instead, make progressive investments from the outset. This approach will benefit both the market and the customers you serve.
The good news is that there is a growing demand for circular economy practices. For instance, at Schneider Electric we produce circuit breakers which are large, bulky items made of plastic and metal. We had to take a step back and rethink our product design to enable reusability and component harvesting at the end of life. This commitment drives our R&D; efforts throughout our various offerings, and has resulted in more sustainable product design and manufacturing.
Transitioning to a greener economy, particularly through the adoption of renewable energy sources, comes with its own set of challenges. The cost associated with renewables like green hydrogen, wind and solar can be prohibitive. However, collaboration amongst organisations is undoubtedly driving innovation, and green initiatives are becoming more viable. Schneider Electric is investing heavily in R&D; to find cost-effective solutions that bolster the green economy.
Electricity 4.0
As an organisation, one of our core differentiators is the ability to integrate components seamlessly through our myriad digital solutions, therefore providing a holistic approach to sustainability. Our digital solutions collect and provide essential information that assists organisations in making informed decisions that will aid their sustainability endeavours.
It is also important to note that an important part of this journey is electrification. While the traditional image of electricity generation is generally associated with polluting power plants, we focus on harnessing renewable energy from green energy sources. Our emphasis is on utilising this energy effectively and efficiently, not only to stimulate economic growth, but also to ensure accessibility for everyone.
This approach closely aligns with Industry 4.0 and we refer to it as Electricity 4.0. Together with our partners across the world, we are building a New Electric World that provides smart energy to homes, buildings, data centres, industries, infrastructure, and grids.
Electricity is the most efficient energy; it is also the best vector for decarbonisation. By 2040, the share of electricity in everything we do will double, reaching at least 40% of final energy consumption. Six times more electricity will be generated from solar and wind. It should also be noted that electrification and digitalisation must go hand in hand, as one complements the other. Without both, navigating Industry 4.0 will become increasingly challenging.
An evolving workforce
There is no doubt that education and training must adapt to meet the demands of a workforce that focuses on green initiatives. We are seeing online learning and apprenticeship programmes stepping to the fore, providing important platforms for individuals to gain the necessary skills in this changing, greener economy.
At tertiary institutions we are also seeing a blending of disciplines. Mechanical engineers now work with electronics, and new curriculum pathways like mechatronics bridge these fields, representing the integration of modern technology with traditional learning.
We also need to rethink how learning is structured, breaking it down into smaller, more flexible segments, moving away from the traditional one-size-fits-all approach. The evolving workforce and industry landscape present challenges, but also offer opportunities for growth and adaptability.
Moving towards an economy that is driven by sustainable practices requires fulltime commitment by both organisations and individuals. Our planet’s resources are finite, but through collaboration, innovation and commitment we can solidify our place in history.
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