How tech innovation is advancing sustainable development goals

In an era where technology and innovation shape societal change, understanding the pivotal role of tech companies in driving sustainable development is crucial. The Sustainable Development Goals (SDGs), established by the United Nations in 2015, present a universal call to action to end poverty, protect the planet, and ensure peace and prosperity by 2030. In India, where rapid economic growth coincides with significant social and environmental challenges, there is an intensified impetus for organisations to engage in sustainable practices.

All global tech leaders, including CGI, Google, Microsoft, Amazon, and Apple, are also aligning their business strategies to focus on sustainability goals. Their combined technological potential and global influence, is focused on adopting circular economy principles and delivering solutions for real-world problems. This concerted effort underscores the commitment of these tech giants towards contributing to a sustainable and inclusive future.

For instance, AI and big data analytics solutions can enhance sustainable agricultural practices, protect nature and promote biodiversity and advance renewable and alternate energy sources.

Global impact through technology and corporates

The corporate world's commitment to sustainability is mirrored in the rising adoption of Environmental, Social, and Governance (ESG) criteria for investments. ESG assets are projected to exceed $53 trillion by 2025 globally, representing more than a third of the $140.5 trillion in projected total assets under management.

India, with its diverse socio-economic landscape, presents an ideal ground for social innovation. Technology, particularly embraced by tech giants, has the potential to be a transformative force in addressing challenges such as poverty, inequality, environmental degradation, and limited access to healthcare and education.

Corporations in India can lead this change by incorporating sustainability into their business models and investing in social innovation. This involves not only adopting environmentally friendly practices but also leveraging technology to address broader social issues.

Why Corporates in India Should Embrace Sustainability

Economic Growth and Competitive Advantage: Sustainable practices can enhance operational efficiencies, yield cost savings, and open new market opportunities, providing an early adopter advantage.

Regulatory Compliance and Risk Management: Proactive engagement in sustainable practices positions companies to comply with environmental regulations and mitigate potential risks associated with environmental degradation.

Reputation and Customer Engagement: Demonstrating a commitment to sustainability can enhance brand reputation and build stronger relationships with environmentally conscious consumers.

Employee Satisfaction and Talent Attraction: Companies committed to sustainability and social responsibility are more appealing to potential employees, fostering a more engaged and motivated workforce.
 
Such collective efforts by corporates can further reinforce India’s trajectory towards sustainability and sets the stage for a future where responsible business practices and environmental stewardship are paramount.

Pathways for Tech Giants in India to Foster Social Innovation

Sustainability is a shared responsibility, the key to achieve the goals and ensure long-term success is to partner with other organizations, collaborate with the government and ESG institutions and have constant dialogue with our communities and citizens.

Collaboration with Stakeholders: Engage with government, NGOs, and local communities to understand challenges and co-create solutions.

Investing in Sustainable Tech Startups: Provide funding and mentorship to startups focused on sustainable solutions.

Incorporating Sustainability in Core Business Practices: Shift towards sustainable supply chains, energy-efficient operations, and responsible waste management.

Educating and Empowering Consumers: Use platforms to raise awareness about sustainable practices and empower consumers to make informed choices.

Initiatives like Digital India, driven by the Indian government, have harnessed technology to enhance governance and service delivery, significantly impacting education, healthcare, and financial inclusion. The Aadhaar project, for instance, has revolutionized service delivery, ensuring better targeting and reduced leakage in subsidy schemes.

The significance of technology in achieving Sustainable Development Goals cannot be overstated. In India, where the potential for social impact is immense, tech giants and corporates have a unique opportunity and responsibility to drive this change. By embracing sustainability and investing in social innovation, they can contribute not only to the global agenda of sustainable development but also create a more resilient and inclusive society.

Rakesh Aerath

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Rakesh Aerath is President of CGI’s Asia Pacific Global Delivery Centers of Excellence.