A Sustainable Future: Technology’s Role in Global Risk Management

 A Sustainable Future: Technology’s Role in Global Risk Management

by Victoria Wadsworth, Associate Vice President, Reputation Marketing Division, Agilent

In an era dominated by escalating global challenges, the World Economic Forum’s (WEF) 2024 Global Risks Report serves as a compass, urging organizations to innovate resiliently. In its 19th edition, the report sheds light on the need for action across several areas, including how best to tackle extreme weather events and the urgency for faster progress in sustainability. It also outlines the risks intertwined with technological advancements, from the rise of cybercrime to the potential misuse of Artificial Intelligence (AI) to create and spread false information.

As industries rally globally to confront these concerns, it is imperative for the scientific and research communities to not only develop solutions but to do so sustainably and transparently. According to WEF’s report, within these global risks lie unique opportunities to rebuild trust, optimism, and resilience in our institutions and societies. Realizing this vision, while minimizing adverse outcomes of cutting-edge technologies, necessitates long-term commitments and cooperation.

Mapping sustainable progress

Today, research labs are vital engines of innovation, and they find themselves at the intersection of addressing global challenges while pioneering sustainable solutions. To better understand the motivations for adopting sustainability practices, we need to consider or turn to key insights shared by leaders of this sector.

In a recent global lab sustainability survey, which included 600 interviews with experienced lab personnel from across Asia, Europe, and the U.S., encouragingly, 82% of respondents said their companies had adopted sustainability measures. Key focus areas included reducing carbon and greenhouse gas emissions (72%), optimizing water and energy consumption (68%) and improving waste management (60%). Notably, 85% of labs expect vendors to assist them in reaching their sustainability goals, a commitment that Agilent is proud to uphold.

To put it simply, labs have already started redefining their strategies to better address these imminent threats and seize the opportunities for a better world.

Technology’s role for good

Amidst the rush to embrace transformative technologies, labs should balance progress with sustainability considerations. As they adopt cutting-edge tools like the Internet of Things (IoT) and generative AI, maintaining a level of awareness of the associated risks is paramount. Developing proper governance practices is essential to ensure that their operation is explicable, transparent, and responsible.

It is also incumbent on analytical instrument vendors to adopt advanced practices in their manufacturing facilities for enhanced productivity, sustainability, agility, speed to market, and customization. Agilent’s Waldbronn manufacturing operation, for example, was recently recognized as a Global Lighthouse by WEF, demonstrating this commitment. The award recognizes manufacturers that are accelerating a comprehensive and inclusive adoption of advanced technologies, incorporating Fourth Industrial Revolution (4IR) technologies into their daily manufacturing and supply chain operations, effectively creating the most advanced factories across the globe. These companies, known as “Lighthouses”, are leading the way in showing how to increase productivity, engage workforces, lower emissions, and build supply chain resilience.

Agilent’s adoption of 4IR resulted in remarkable efficiency gains – a 35% increase in manufacturing quality, 44% in productivity, and a 48% increase in output – deploying throughout its 28 manufacturing, operations, and logistical sites across the world. An example of balancing the integration of innovation and sustainability, illustrating that responsible business conduct is not just a choice but a strategic imperative.

A collective impact

At the forefront of this movement is My Green Lab, a non-profit organization sponsored by Agilent, dedicated to fostering a global culture of sustainability in science. A key part of the initiative is the My Green Lab certification programme, which is recognised by the United Nations Race to Zero campaign as a key measure of progress for pharmaceutical and medical technology companies toward a zero-carbon future.

AstraZeneca was the first company to pursue My Green Lab certification, which it’s now rolling out on a global scale. The 20 labs that started the process in 2021 have shown a 4.3-times return on investment just through energy savings that they could directly measure, such as closing fume hood sashes and adjusting freezer set points. It also saw an increase in the number of employees who now understand how they can contribute to their company’s sustainability strategy.

The quest for sustainable innovation

In steering the conversation towards sustainable labs, this perspective reinforces the notion that labs, as hubs of innovation, should not only pioneer solutions to global issues but also champion sustainability as a core part of their mission. Blending technology with green practices isn’t just a trend, it’s a must for preserving our tomorrow.

By collectively sharing our learnings, we can conduct more meaningful conversations and help create best practices that bring everyone closer to their goals. Emerging technologies, paired with currently available solutions, can help drive responsible, sustainable innovation. It’s the right thing to do for both business and our planet.

 

Subscribe to our e-Newsletters!
Stay up to date with the latest news, articles, and events. Plus, get special offers from Labcompare – all delivered right to your inbox! Sign up now!
  • <<
  • >>