2024 Informed: The green revolution

Transparency, accountability, and inclusivity in addressing the world’s most urgent environmental challenges are common themes.

From the integration of sustainability in tech innovation to the rapid growth in climate tech funding, the narrative is straightforward — sustainability will become the cornerstone of future developments across industries as both a strategic imperative and a catalyst for unparalleled innovation.

1: Embracing sustainability in tech infrastructure

“Sustainability has previously been identified as a top three driver of innovation and primary consideration in the IT procurement process. Next year, we will see it have a much greater impact on which technologies IT teams pilot, invest in, procure and scale — particularly as regulations evolve, newly develop and tighten.

“For example, as of 1 January 2024, 50% of the electricity consumed by German data centres must be covered by electricity from renewable sources. From 2027, the requirement will be 100%.

“On their path to net zero and nature-positive operations, enterprises will increasingly look to leverage new technologies like Private 5G networks, used by global enterprises such as LyondellBasell and Schneider Electric, to drive critical smart factory applications that contribute to ESG initiatives — from carbon mitigation to circular economy of infrastructure hardware. We will also see greater pressure on IT suppliers to help industries achieve their sustainable development goals and KPIs.”

Vicky Bullivant, SVP Sustainability & HSE, NTT

“To curtail costs and emissions, companies will primarily concentrate on adopting more efficient infrastructure and sustainable energy sources. However, this may not suffice, as the relentless tide of innovation, driven by the demands of AI for capacity, speed, and power, cannot be restrained.

“In the upcoming year, companies will start recognising that ostensibly similar software platforms showcase significantly diverse carbon footprints. This awareness will spark a new wave of modernisation for inefficient software stacks that are currently deemed modern. Nevertheless, there is a silver lining: adopting a more efficient software platform will result in enhanced speed, cost-effectiveness, and environmental friendliness.

“With the ESRS (Emissions and Energy Reporting System) taking effect in 2024, companies operating in the EU are mandated to disclose their annual emissions. This regulation is poised to compel certain companies to establish more ambitious environmental and sustainability objectives, while others will face increased pressure to attain existing goals. However, clinging to legacy systems will render meeting these expectations nearly impossible.”

“Numerous organisations have opted to retire their data centres in favour of transitioning to the cloud as a strategy to reduce emissions. Yet, with major cloud providers now reporting emissions from individual account usage, companies must pivot their focus toward adopting more efficient software technologies that demand fewer hardware resources.”

Behrad Babaee, Technology Evangelist at Aerospike

“Sustainability is still a top priority in manufacturing, both in organisations’ processes and the products they are manufacturing. Sectors like aerospace, automotive, and energy have legislative goals to reach, such as getting to Net Zero by 2050, so much of their product development is around de-carbonising and incorporating ultra-efficient technologies.

“Our own study of 450 manufacturing executives shows that sustainability is a key driver in innovation and a key reason for manufacturers to develop new products. Digital manufacturing has an important part to play as it enables localised production and results in less waste, as outlined above.”

Bjoern Klaas, VP and MD of Protolabs Europe

2: Corporate Responsibility and Environmental Transparency

“In 2024, companies will continue to prioritise environmentally conscious practices. With the growing urgency to address climate change and avoid greenwashing accusations, organisations will likely maintain their commitment to sustainability in all aspects of their operations. This includes incorporating eco-friendly initiatives into their global mobility strategies.

“One key area where this will be evident is in relocation processes. Companies will increasingly offer carbon-neutral relocation packages, as well as promote green transportation options for expatriates. This shift supports corporate sustainability goals and meets the rising demand for environmentally responsible practices from employees and customers.

“Organisations will be keen to demonstrate a genuine commitment to sustainability, steering clear of greenwashing accusations and contributing positively to a more eco-friendly global mobility landscape.”

Zain Ali ,CEO at Centuro Global

“2024 will see consumers continue to vote with their wallets when it comes to ethical practices. But contrary to the sustainability consumer trends of a decade ago, these will be harder to mitigate with superficial marketing efforts because the critics are not just the customers anymore. They are the ones who design, make, market and sell the products as well.

“This could mark the beginning of the end for greenwashing practices. 2024’s cohorts of designers, creators and makers are going to have been trained in critical approaches to their disciplines, including Do No Harm, decolonial approaches, and sustainable design. They will have a more human, environmental, and ethical approach to the world, meaning that the products and services that are being released have responsibility at their core.

“As we step into a new year of climate emergency, renewable energy technologies will be hitting new heights of popularity with European governments- especially in the shadow of the current conflict and profiteering energy landscape.”

“What’s encouraging is that renewable energy will make up more than one-third of the world’s supply of power for the first time in 2024, according to the International Energy Agency (IEA) Electricity Market Report, so we are heading in the right direction.

“There, the pressure will be high to build relevant infrastructure to make these available to consumers, and governments will face immense pushback from companies whose business this endangers. As has been the case for decades — political will rather than technological capability will be the deciding factor.”

Dr Pardis Shafafi, anthropologist and global responsible business lead at Designit

3: The investment boom in climate tech and its societal impact

“In 2024, we will see even more investment pouring into Climate Tech solutions, particularly with lots of progress to be expected in renewables, carbon capture, sustainable agriculture, and circular economy models. We will also witness bigger shifts in climate reporting with new global standards. I believe the most influential technologies for sustainability and innovation will revolve around advanced energy storage, green hydrogen, sustainable food production, circular economy innovations, sustainable transport (e-mobility), and tech around climate resilience.

“The climate crisis is a global challenge already affecting all of us. Having a more diverse and inclusive workforce is part of the solution. Therefore, we increasingly need different perspectives and expertise to try and solve the problems that we are facing. I believe we will see a drive for more DEI initiatives to ensure we have a broad perspective when tackling climate challenges. Getting to good solutions often means embracing chaos and risk — something more traditional industries particularly struggle with.

Gabi Matic, co-founder and director at Metta

4: Government and policy driving change

“Government policy and investment will work more closely with the tech sector to help British entrepreneurs deliver initiatives to solve society’s most urgent dilemmas. 2024 will be the year that real innovation is unleashed in green tech. I’m not just talking about wind turbines and electric vehicles; I’m referring to a surge in digital platforms to tackle biodiversity and climate change. Underpinning this is a need for a change in attitude to investing early and for the long-term in innovative businesses, as is done in the US.”

Philip Letts, chair of LettsGroup

Climate change will continue to be a significant issue. Although governments are backtracking on commitments and giving businesses’ permission’ to slow down their initiatives, forward-thinking business leaders will see the benefits of continuing these initiatives to employees and consumers.

Jim Stevenson, CEO of Bletchley Group