How do companies protect the environment through innovation?
Companies are addressing environmental issues through optimization and innovative solutions. These solutions include efficient management of energy, waste, water, and other resources, as well as the development of digital technologies to tackle environmental challenges.
At Impaakt, we capture the related impacts through the topic of Environmental Solutions.
👉 Note: Impact topics are a set of social and environmental impacts identified by the Impaakt Team to provide an additional layer of complex insight into measuring current impact. They range from general themes like Greenhouse Gas emissions and Job Creation to industry-specific topics such as Gentrification and Water Pollution. Check our Frameworks section for more information.
The main types of Environmental Solutions are:
Waste Efficiency 🚮
Linear waste models follow a "take-make-disposal" approach, leading to excessive waste and overexploitation of resources. Adopting circular economy models and efficient waste management methods can reduce both the burden on natural resources and emissions resulting from improper disposal.
Examples: Dow's industrial solutions address plastic waste and water scarcity; TOMRA's Reverse Vending Machines facilitate the collection of 40Bn used beverage containers globally
Energy Efficiency ⚡
Fossil fuels are the primary cause of climate change, causing 75% of global greenhouse gas emissions and leading to global warming, which in turn contributes to biodiversity decline and environmental disasters such as aquatic acidification, droughts, and storms. Fortunately, available innovations can help us reduce our natural gas and electricity consumption by over 25%.
Example: The nuclear and renewable energy infrastructure built by SNC-Lavalin offsets 72.5 mn t of CO2
Water Management Solutions 🚰
Freshwater represents less than 3% of the world's water supply, but its demand is increasing at twice the rate of population growth. This loss of water contributes to species loss and a decline in biodiversity. Technologies for water conservation, reduction, and wastewater treatment can increase water efficiency and reduce pressure on ecosystems.
Example: 80 Acres Farms' tech reduces agricultural water use by 95% while increasing yields by 300 times
Digital Environmental Solutions 💡
Manifold other threats are responsible for biodiversity loss: illegal poaching of rhinos led to a 96% population decline between 1970-1990; invasive species have been identified as the main cause of extinction in Guam and other islands while air pollution has been shown to affect birds’ health and population. Through digital means, companies can help control and track the sources of population decline.