Innovative solutions are necessary to address climate change. Weather events are more frequent, severe, and unpredictable and the impact on our planet is undeniable.
Consequently, government legislation is tightening requirements at an unprecedented pace. Business must change now, or suffer dire financial, reputational, and operational consequences.
Negative Impact of Climate Change on Business
Climate change impacts business in many ways. For instance, unpredictable weather patterns can increase flood and drought risk which disrupts supply chains. Disrupted supply chains delay or limit raw material supplies which, in turn, disrupt business operations.
Additionally, extreme weather events damage property which causes insurance costs to escalate. Rising temperatures due to emissions also stress the workforce and lead to lower productivity, higher prices, and reduced customer spending.
Positive Impacts of Improved Energy Efficiency
Improving energy efficiency has a very positive effect on business. Firstly, it reduces emissions which is an important consideration when trying to achieve a net zero goal.
Secondly, improved energy efficiency reduces expenses. Energy costs become more controllable and predictable, which can have a direct positive impact on a company.
Thirdly, consuming less energy reduces risk. Companies are less vulnerable to volatile market changes and spikes in energy costs.
Fourthly, companies that use energy wisely are more likely to appeal to consumers. Studies from IBM, Meta, and Research and Markets confirm customers are more likely to buy from environmentally and social conscious companies and they’re willing to pay more for their products and services.
Even Minor Innovations Can Offer Huge Benefits
Emerging technologies can also help business decarbonise and reduce product and operations emissions in many other ways.
As an example, climate technologies can provide a company with early warnings in high-risk areas to minimise loss. Better data collection can also improve forecasting to provide longer lead times for events.
Sensors can also work with software to detect changes in the climate to better anticipate the effects of global warming. Improved monitoring, weather, and hydrological modelling can help prevent costly flooding.
Additionally, better managing valuable resources such as water can make companies in high-risk areas such as the U.S Southwest, Europe, and China more resilient. Technology can also help regions develop drought-resistant crops.
Transitioning Towards Clean Energy
Clean energy technologies such as wind, solar, and hydropower can reduce or eliminate the need for fossil fuels. However, companies need to know where to start to make this transition feasible.
Typically, this begins with an energy audit to track usage and identify areas that need improvement. However, companies may need direction to pinpoint which innovative solutions are suitable. Of course, they must be tested and they must align with available resources and company goals.
Connecting Business with Innovative Solutions
Understandably, the reduction of emissions and decarbonising products and operations can seem a daunting task. After all, the types of innovative solutions needed to resolve these challenges often spreads across many areas of a business and their supply chain.
Fortunately, EarlyBirds makes the connection between climate change technologies and corporate plans, goals, and activities. Our expertise, Subject Matter Experts, and expansive marketplace of new and disruptive technologies make us perfectly positioned to help.
We also offer unique programs for ad hoc or supplementary needs, as well as ongoing transformational support. Companies can plot a path towards net zero and find the innovative solutions they need.
EarlyBirds Innovation Ecosystem
The EarlyBirds Innovation Ecosystem is a Business-to-Business portal connecting Innovators, Early Adopters, and Subject Matter Experts. Early Adopters are leaders or influencers in an organisation eager to identify new and disruptive technologies. They want to seize opportunities, solve business challenges, or create new products and services.
The Ecosystem has a data pool of over 4 million global innovations that may already address your organization’s challenges. Alternatively, organisations can list their challenges and request solutions from innovators.
EarlyBirds Explorer Program
The Explorer Program is tailored towards those who need innovation as a service to supplement existing innovation programs, or to conduct innovation projects when required.
EarlyBirds Challenger Program
The Challenger Program focuses on a single organisational or technical challenge. It looks for the most relevant innovators that meet your organisational, technical, and risk requirements.
The program is run by an EarlyBirds Subject Matter Expert who identifies your key issues. The SME then searches the data pool to identify and curate options for further evaluation. The most suitable option is chosen and the SME drafts a roadmap of next steps, POC, trial, or implementation.
EarlyBirds helps organisations plot a path towards innovation. Let us direct you towards appropriate innovative solutions that reduce emissions and decarbonise your products and operations.
If you’re interested in partnering for success, please register at https://earlybirds.io/, or contact us to discuss your needs.