The COVID-19 pandemic has accelerated the focus on SusTech, further highlighting the importance of technology when it comes to addressing sustainability challenges.
The United Nations Sustainable Development Goals are a universal call to action aimed at protecting our planet and improving the quality of life and prospects of people globally by 2030. Progress has been made in some areas but the population’s contributions to climate change are threatening to undo these gains.
This has resulted in calls for renewed action to tackle the climate emergency and push for sustainable development in three key areas: social development, economic development and environmental sustainability.
Today, there is more potential for technology to help solve environmental issues rather than create them. Thus comes sustainable technology, or “SusTech” – a term that integrates sustainability and technology, bringing both worlds together to create value for companies, customers and society.
The following five themes provide a foundation for a long-term philosophy centred on SusTech – where technology solutions aim to drive sustainable outcomes. It is shaped by businesses, innovation and developments that are changing the world today for a better tomorrow.
Food science technology (FoodTech) and agricultural technology (AgriTech) point to innovation in the food development process, from farm to plate. This collective industry seeks to leverage technology to create efficiencies that benefit farmers, the environment and consumers.
Green technology refers to the use of environmentally friendly technology in production processes or supply chains. This abbreviation also encompasses clean energy production, which involves the use of alternative fuels and technologies that are less detrimental to the environment than fossil fuels.
Health technology, as defined by the World Health Organization, is the application of knowledge and skills in the form of devices, medicines, vaccines, procedures and systems to solve a health problem and improve quality of life. Broadly, the space includes digital health, which refers to the application of digital technology to improve health or care delivery.
There are many definitions of a “Smart City” across countries and institutions. According to the OECD , Smart Cities are defined as “initiatives or approaches that effectively leverage digitalization to boost citizen wellbeing and deliver more efficient, sustainable and inclusive urban services and environments as part of a collaborative, multi-stakeholder process.” Simply put, Smart Cities leverage technology to create a more connected community and improve the wellbeing of citizens.
Financial technology is a term to describe new and innovative tech solutions that aim to improve and automate the delivery and use of financial services. This expanding landscape includes blockchain, online-only financial institutions and tech-led firms in the insurance sector.
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