By using digital technologies the three highest-emitting sectors can cut their emissions by up to 20% by 2050, according to new research release today at the World Economic Forum (WEF) Annual Meeting in Davos.
The new findings in the WEF and Accenture report also indicate that the quick adoption of these technologies can cut emissions by between 4-10% right now in the energy, mobility, and materials sectors.
Specifically, the report highlights four digital technologies these sectors should invest in to move the needle on reducing emissions. These are foundational technologies, including big data; decision-making technologies like AI and digital twinning; enabling technologies, including 5G and blockchain; and sensing and control technologies such as drones and IoT.
Manju George, head of platform strategy, digital economy, WEF, points to the “readily available levers” that “digital technologies and business models” offer companies, which she says can “bring transparency, efficiency and circularity to business processes and value chains.”
To help showcase some of the success stories in this area the WEF is building a bank of what it is calling lighthouse examples: businesses that are excelling in cutting their carbon emissions through the use of digital technologies, in a bid to inspire others to follow their lead.
Kathleen O’Reilly, global lead, Accenture Strategy, added: “While every digital transformation will look different, the use of real-time data to enable sustainable decision-making, new-skilling opportunities for workforces to scale digital, and collaboration both within the organisation and across the value chain will be core to the success of all.”
The World Economic Forum Annual Meeting runs until 26 May. Follow the live sessions here.