Companies around the world are starting to realise that we live on a planet with limited resources. This is leading them to see sustainability not just as an extra cost, but as a smart way to run their business.

Capgemini's research shows this change in thinking. It highlights how climate change and extreme weather are making companies take a closer look at their environmental impact. More and more businesses are understanding that being sustainable and making money can go hand-in-hand.

The Gap Between Knowing and Doing

Even though more companies understand the importance of sustainability, many are not taking strong action yet. Capgemini's 2023 "A World in Balance" report shows this gap. While companies say environmental sustainability is important, they are not always investing more money in it or making detailed plans to achieve it. This is especially true for designing sustainable products and reporting on all their emissions (including those from suppliers and customers). This is a missed opportunity for businesses to be leaders in sustainability.

The Promise of Technology

There is good news, though! New technology like generative AI offers exciting solutions to improve sustainability efforts. This is not just about making things more efficient but also about completely changing how businesses operate. AI can help model complex systems, use resources better, and design sustainable products with incredible accuracy.

The Eco-Digital Era: A New Way to Grow Sustainably

Capgemini's research on the eco-digital era shows that the market for digital solutions that help with sustainability is expected to double in size to nearly $33 trillion in the next five years. This shows the huge potential of technology to drive sustainability. This new era is about companies becoming both more digital and more sustainable. Digital tools will play a key role in helping businesses reach their sustainability goals while also growing the economy in a way that protects the environment.

The eco-digital era is creating new business models, ways to make money, and opportunities to use digital technology to improve businesses. This includes using more data and cloud services, and exploring new technologies like generative AI and synthetic biology. These advancements are happening across all industries around the world, and they are essential for reducing greenhouse gas emissions as laid out in the Paris Agreement.

Using Technology for Sustainable Success

At Capgemini, they believe technology is key to helping businesses become more sustainable. By using advanced technologies like AI in their sustainability plans, companies can make faster progress, have a bigger impact, and create a culture of innovation and responsibility.

The Road to Sustainability

As businesses work towards becoming more sustainable, they should use these new technologies to close the gap between knowing what to do and actually doing it. This journey requires companies to keep improving, innovate, and work together. They also need to understand the connection between a strong economy and taking care of the environment.

The Future is Sustainable

In the future, businesses will need to be aware of their environmental impact and take steps to reduce it. Companies can move towards a more sustainable and profitable future by using technology and making sustainability a core part of their operations. By doing this, they will not only help the planet but also gain a competitive edge in a market that increasingly cares about the environment.

Capgemini's Commitment

Last month, at the World Economic Forum in Davos, Capgemini showed its commitment to these ideas again. They talked about how businesses and technology can work together to rebuild trust and create a sustainable and innovative future. This participation highlights Capgemini's dedication to using technology for the good of society. It shows the spirit of the eco-digital era and underlines why businesses need to align with sustainability goals in a world with limited resources.

The research conducted can serve as a useful reference for companies that are willing to embark on the sustainability journey. It highlights the challenges and opportunities that are likely to arise, stressing the importance of companies embracing sustainability. The message is unmistakable: in a world where resources are scarce, businesses and sustainability must collaborate, not compete with each other. This is the only way for businesses to achieve long-term success and resilience.

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Source: Capgemini