Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Canva Metal Wheel Concept e1593606528854 - Business Express
Macro photo of tooth wheel mechanism with AUTOMATION concept related words imprinted on metal surface

Realising sustainability profit with intelligent automation

Realising sustainability profit with intelligent automation

Ben Tamblyn, VP of Global Communications at Nintex

The path to net zero is a challenging one. Many organisations had high hopes and lofty ambitions to reach net zero carbon emissions goals by 2030 –  twenty years earlier than called for in the Paris Agreement. However, the revised Net Zero Strategy published by the UK government in March 2023 paints another picture. In the report, it concedes that 2023 emissions targets will not be met, and even the revised plan is likely to fall short as it is predicted to provide a 92% reduction in emissions required to meet the net zero goal.


Additionally, reports of inefficient infrastructure and the ongoing geopolitical uncertainty in Ukraine causing an energy crisis – mean that other public service needs are trumping sustainability. All of these further inhibit plans for future carbon reductions, particularly within the public sector. 


While many have claimed that the roadmap for the new strategy is unclear, what can’t be confused is the focus on technology and the role that it will play in furthering green objectives. Evidently, the report relays the need for research and development into new technologies to counter greenhouse gas emissions and measure ESG impact. As the revised plan states, ‘we need investment at scale across a range of sectors to rapidly roll out existing technologies and bring through transformative new ones. Increased investment in net zero technologies globally will unlock innovation and drive costs down, as well as create opportunities for UK exports’. While this may be true, in the near term, these technology innovations fall on the private sector to deliver. 


The question to ask though: is sustainability alone enough to redirect development goals in the private sector? 


Profit Drives Purpose 


It is no secret that the private sector comprises profit driven businesses. While enterprises play an integral role in developing green technologies, many are not directly involved in the green sector. Companies must adhere to clear legal requirements, such as the UK Environment Act 2021 and the recently amended Companies Act 2006, both of which lay out guidelines around ESG, air quality, biodiversity, water, and waste. However, with the UK’s roadmap still falling short of Net Zero goals, the bare minimum isn’t sufficient – we need to go over and above to increase green credentials. Essentially, to make a case for sustainability measures, business leaders need to be incentivised to see this as a proven driver of profit.


Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Businesses that follow an agile approach have already begun incorporating sustainable practices into their operations to support sustained growth and satisfy the evolving demands of consumers. A recently published study revealed that 62% of consumers are unwilling to decrease their spending on sustainable goods and services, despite economic uncertainty. The significance of sustainability extends to B2B companies as well. Research indicates that 72% of B2B customers consider sustainability in their purchase decisions and are more likely to buy from companies that prioritise socio-political concerns they view as important.


Business leaders recognise the importance of sustainable development goals (SDGs) in achieving their corporate objectives by 2023. According to the Global Compact CEO study by Accenture and the UN, 41% of CEOs believe that companies play a critical role in meeting SDGs. Additionally, 63% of CEOs have launched new products or services to address sustainability and meet global challenges.


Both clients and businesses have shown a strong interest in sustainability, acknowledging that the private sector can spearhead the efforts to achieve sustainable targets. To make a meaningful impact, business leaders must not view sustainability as a cost burden. Instead, recognise that integrating sustainability into their strategic goals is essential for long-term growth and profitability.


Realising Sustainability Profit with Intelligent Automation 

Intelligent automation, which utilises artificial intelligence and automation, can help businesses streamline their operations to save money and resources while becoming more sustainable. This technology can optimise processes to reduce emissions by analysing and mitigating environmental risks, digitising manual and paper-based processes, and reducing paper consumption. For example, pharmaceutical manufacturer Clariant reduced their carbon emissions significantly by digitising their invoice production. Through process automation, they eliminated 40,000 printouts through this digitisation process. 

Intelligent automation can also improve carbon reporting, which is often time-consuming and prone to human error. By automating multiple steps, RPA and intelligent document processing can speed up the process and improve accuracy. A British motor racing team was able to cut down 50% of the time spent on carbon reporting through automation, which led to greater visibility and, ultimately, better decision-making regarding reducing emissions.

In addition to promoting sustainability, intelligent automation can drive profitability by freeing up valuable human resources to focus on higher-value tasks. For example, Skanska, a multinational construction and development company, automated 35 business-critical processes, returning over 10,000 hours to the business.

As the global economy faces inflationary pressures, businesses must prioritise operational efficiency and sustainability. They must critically examine their processes, eliminate manual tasks, and make responsible and ethical decisions that align with short-term and long-term growth. By leveraging intelligent automation, businesses can lead from the front as they streamline their operations, reduce emissions, and promote sustainability while remaining profitable.


Recent Post: