“Urgent Action Needed: Global Warming Tipping Point Approaching Fast”
Global warming has become a pressing issue as the world is on track to breach the 1.5°C warming threshold by 2035 and potentially increase by another 1°C by 2100, according to the United Nations. In response to this urgent situation, enterprises are increasingly recognizing the importance of implementing effective sustainability strategies. A recent survey of 5,000 C-suite executives across 22 industries and 22 countries by the IBM Institute for Business Value (IBV) revealed that 50% of CEOs now tie compensation to sustainability goals. However, 6 out of 10 executives feel they have to make tradeoffs between commercial and sustainability outcomes.
Despite this perceived conflict, organizations that prioritize environmental, social, and governance (ESG) initiatives are 43% more likely to outperform on profitability. Many companies are turning to AI and data-driven intelligence to enhance sustainability and cost-efficiency in their asset lifecycle management operations. For instance, Spendrups Brewery in Sweden partnered with IBM Platinum Business Partner Enfo to optimize maintenance processes using IBM Maximo solutions, resulting in reduced power consumption and environmental impact.
Similarly, Quant, a leader in industrial maintenance, collaborated with IBM Business Partner AFRY to manage over 105,000 assets worldwide using IBM Maximo Application Suite. By leveraging AI, IoT, and analytics, Quant is integrating environmental intelligence and ESG reporting into its services, aiming to extend sustainability capabilities to a broader ecosystem of customers and partners.
The key to achieving sustainability goals lies in transforming raw data into actionable insights. Falcone Borsellino Airport in Palermo digitized its asset data with IBM Maximo, replacing inefficient processes with a centralized digital solution. This transition enabled the airport to access valuable data for sustainability reporting, demonstrating the importance of data in driving environmental outcomes.
While data and AI play a crucial role in sustainability decision-making, human involvement remains essential. Organizations must invest in training and education to empower teams at all levels to contribute to sustainability goals. By building robust governance frameworks and organizational structures, companies can ensure that sustainability is integrated into all aspects of their operations.
Ultimately, organizations that deeply embed sustainability into their operations report essential business benefits that justify their investments in sustainability. By prioritizing data usability, business integration, and team empowerment, companies can drive significant business value while making a positive impact on the environment for future generations.