The environment we live in has been a hotly debated topic for decades. There are numerous efforts to make our living conditions better and our lives healthier, both of which greatly depend on our environmental consciousness. As new technologies and industries appear and as we move further and further to greener and safer energies, the question remains of whether the environment is something separate or not. Can it be distinguished from other aspects of human development and our specie’s advancement? Recently, it has been argued that the environment can be understood as a business, and even as a new type of technology.
Certainly, both of these views have some merit but it is not so simple to categorise. It is more than a yes or no question as we need to go deeper to answer it. Certain solutions that bridge the gap between technologies and integration certainly seem to be pointing in this direction, as hub88 for example. Such developments and breakthroughs are exactly what we need at this stage of our technology.
The advent of new, seemingly futuristic tech, has revolutionised businesses and the overall approach to environmental sustainability. Several key technologies are particularly crucial for this, mainly renewable energy, artificial intelligence, big data, and the Internet of Things (IoT).
Renewable energy sources like wind, solar, and hydropower are at the forefront of environmental business. They not only reduce our dependence on fossil fuels but offer long-term cost savings. Many companies have already demonstrated how profitable renewable energy can be as they develop and sell products that appeal to eco-conscious consumers. At the same time, they drive innovation and achieve breakthroughs along the way.
AI and big data are constantly in the news. For the last several years, artificial intelligence has been the talk of the town as it has transformed environmental monitoring and resource management. These two technologies optimise energy consumption in real time, reduce waste, and enhance the efficiency of the supply chain. There are smart grids that AI controls and can predict energy demand. It adjusts things according to needs and minimises waste. Companies utilise big data to track their impact on the surroundings, which then enables better-informed decisions that decrease carbon footprints.
The Internet of Things is not a new development and it has been theorised and adapted for years. It enhances environmental management through interconnected devices that monitor and control resources. Thermostats reduce consumption in homes, sensors optimise water usage in agriculture, and businesses implement various gadgets and solutions to make more sustainable practices. On top of it all, it too collects large amounts of data and stores it for further use and reference for even more accurate decision-making.
If there is one industry that constantly benefits from new tech, it is the iGaming side of entertainment as a whole. A multi-billion dollar powerhouse of an industry, it has found its way across many other branches of tech and entertainment, too. Now, it is also utilising green solutions. Seemingly distant from environmental concerns at the top level, it is actually embracing modern solutions and green movements in operation.
For example, energy-efficient data centers are now the norm for most leading companies. iGaming operators rely heavily on data centers and invest in energy-efficient infrastructure that uses renewable energy. Overall, considering how much power and resources their work requires, such companies significantly reduce their carbon footprint with many operators prioritising green certifications for their big data storages. It showcases a true commitment to sustainability and sends a strong message to other industries. Players are also becoming more eco-conscious so they too benefit from the publishers’ and developers’ efforts.
Speaking of gamers, eco-friendly gaming practices are also a reality now. The industry is innovating in-game design and player engagement in ways that contribute to the environment. From raising awareness inside the games themselves to encouraging the players to engage in practices in their own time, it is all one big collective effort. Do we even have to mention how all of it is digital now with barely any physical (plastic) media being produced anymore? Brand loyalty is important and attracting a demographic that shares the companies’ values is a smart business move.
Business models are increasingly recognising the overall movement to environmentally-friendly practices and efforts. Innovative models show everyone how it is not only possible but preferable to give the users something new and important in other ways than simply doing what they usually do. Profitability is emphasised, sure, but ecological considerations are also integrated into the core operations.
One of the biggest examples of this is the subscription-based service model. They have gained more traction over the last decade as multiple businesses provide programs that minimise waste. They are inherently eco-friendly because they do not produce anything physical. The best part is that convenience is not sacrificed but actually enhanced due to ongoing customer engagement and loyalty. Sustainability is promoted in many ways through subscriptions as even the payments are digital, i.e. no need for physical money.
Another business model that is big right now is a product-as-a-service or PaaS. It challenges traditional ownership of items and allows consumers to access what they need without owning them. It is renting elevated to new heights as you can now rent clothing, or solar lights for example. You get them, use them, pay for them, and then return them. No need to make more products and no need for everyone to have something they only rarely use. Waste is reduced and the manufacturers have to make longer-lasting, sustainable products that will be usable for a long time.
Furthermore, the rise of collaborative ecosystems gives businesses the chance to share their resources and knowledge and not keep everything for themselves, especially the things they have in abundance and do not really need. Companies, governments, and non-government organisations realise partnerships and lead innovation by offering new solutions for an eco-friendly future. Tech firms are brought together with environmental organisations to work together and accelerate the development of green tech. Stakeholders and the public both prosper from this.
Looking ahead, it seems likely that environmental technology will only continue to flourish and that mankind will eventually grasp exactly what it is looking for. The future is promising but several factors will need to happen for it to take place. One of those deals with the regulatory framework, i.e. the involvement of government regulations, laws, and policies. They are crucial in shaping environmental technology and the business that it brings. Climate change and the urgency it brings need to be taken more seriously, and it is the governments that hold things back. Carbon emissions need to be limited and more sustainable practices promoted. Once it happens, the frameworks will drive innovation and businesses will seek new standards. Pioneers will appear and position themselves as sustainability and eco leaders.
Consumer demand will also continue to strive for greener and more sustainable solutions across the board. From the food we eat, the clothes we wear, and the tech we use, consumers will show their preferences and an eco-conscious view of the world. Companies and manufacturers will have no choice but to comply, or else they risk losing all their customers and shutting down for good. A fundamental change is taking place as the newer generations care more about the planet than their parents and grandparents.
All in all, a much broader cultural shift toward sustainability and environment as businesses that depend on new technology is gaining momentum. Businesses operate in new ways and stakeholders care about where and how their money is being used. Social media increases information spread and everyone knows what needs to be done. Consumers are empowered, and although they initially seem demanding and/or spoiled, they are right. Businesses need to be held accountable and change their ways because it is their environment too, not just their clients’ and consumers’. A cultural change like this will drive innovation and breakthroughs across the board, from technology and AI to iGaming and agriculture. More transparency comes with sustainability as well and eco-friendliness will not be an option, but a responsibility for all.
Ultimately, the future of environmental technology in business lies in the commitment to a global, long-term plan of going green wherever possible. Those who have embodied such change and made it their core values will continue striving forward while others will have no other way but to join in on it. Remember, everyone benefits from it because everyone lives on this one planet we have. In the face of future challenges, everyone who impacts the environment needs to think of it as a crucial side of their business and use new technology to their advantage to limit their detrimental practices.
