Investing in a greener future this Earth Day
Today is Earth Day, which is this year promoting the need for us to ‘Invest in our Planet’ to meet climate targets and enable a greener future.
Love them or hate them, awareness days can be a useful hook within the world of public relations, and Earth Day is one of the most successful. While some industries will undoubtedly try to reshape their message in order to link it to Earth Day’s agenda, the B2B technology sector can make a real and significant difference when it comes to climate change.
Innovation to ignite change
Earth Day’s website stresses the need for ‘private sector innovation’ to accelerate the rapid change that is required to move the needle on our environmental goals, and what better place to start than with technology.
The role of greentech in the fight against climate change is clear, and one I’ve written about previously on the Babel blog. However, there are other ways tech can help. For example, in the few months since my last blog, the conversation around the metaverse has exploded, including discussions around its potential impact on the way we work and live. While it’s undoubtedly still a mere concept for now, the metaverse could enable us to drastically reduce the amount we travel – and subsequently our carbon footprint – without forcing us to miss out on opportunities to connect with friends and colleagues.
It’s not all about the tech: culture and communication are key
New innovations aren’t the only way the tech industry can make a difference this Earth Day and beyond. Technology companies are some of the most influential businesses in the world – think of Apple, Tesla, Google and Meta – and their internal practices can be just as important as the developments they’re investing in. At Babel, we pride ourselves on having our ears to the ground when it comes to the trends that journalists are interested in, and Environment Social Governance (ESG) is fast becoming a hot topic. This year’s Earth Day campaign suggests that businesses with strong ESG standards are more profitable and have better employee satisfaction rates, so it’s indisputable that technology businesses should turn the mirror on themselves, as well as looking at the wider impact they can have.
However, businesses need to ensure they put their money where their mouth is when it comes to promoting their green credentials. Consumers are becoming far more aware of ‘greenwashing’, and yet it’s still rife. A recent survey from Google Cloud found that 68% of US C-suite leaders admit that their companies are guilty of the practice. If businesses are going to communicate their green initiatives through PR, they need to ensure they can back up their claims.
Investing in innovation
McKinsey research suggests that achieving net-zero emissions by 2050 will require a global annual investment of $9.2 trillion into physical assets – $3.5 trillion more than today. As this year’s Earth Day encourages us to ‘Invest in our Planet’, the technology sector needs to take hold of this opportunity with both hands; proving why its innovations are where this money should be spent.
Read more about Babel’s experience and expertise in the greentech and cleantech sectors and contact us to learn more.