Green tech investment. The new green gold rush.

What was once considered a niche market for eco-conscious leaders is now becoming mainstream within the corporate world. This burgeoning sector now encompasses a wide range of industries, including carbon removal, agriculture, food waste, renewables, and decarbonisation of the built environment. The leaders in these industries are prioritising environmental sustainability for a host of reasons, including consumer demand, legislative and investor pressure, talent retention and more importantly meeting the ESG regulatory requirements that are being imposed on them - and many are turning to technology to help them achieve these regulatory requirements.

The Rise Of Green Cloud

Green cloud is no longer just a passing trend but an essential requirement for businesses that want to prioritise sustainability and reduce their carbon footprint. By using cloud infrastructure, businesses can manage workloads efficiently and become more energy-efficient, thereby improving their sustainability performance in areas such as lighting, energy consumption, and cooling systems. A recent study by International Data Corporation (IDC) found that if more organisations were to adopt green cloud technology by 2024, they could collectively avoid emitting up to 629 million metric tonnes of carbon. The study also found that prioritising sustainability in data centre design can eliminate up to 1.6 million metric tonnes of emissions by 2024. By adopting green cloud, businesses can contribute to a greener future and enjoy significant financial benefits.

Moreover, green cloud is a necessary component of sound business practices in 2023 –as it attracts environmentally aware investors. The demand for green cloud is growing, and the market for green IT is expanding. Therefore, businesses must make it a priority to adopt green cloud; and in doing so, they will help create a more sustainable future, reduce energy costs, and attract investors who prioritise environmental awareness.

Top Sources Of It Energy Costs In Business

As businesses continue to rely on technology for their daily operations, the expenses associated with IT energy consumption have become a significant concern for business leaders. Green IT initiatives have become a necessity for companies to reduce their carbon footprint and enhance their financial competitiveness. One of the most significant sources of IT energy costs is data centres, which are, estimated to be responsible for up to 3% of global electricity consumption today and are projected to touch 4% by 2030. Businesses are continuously seeking ways to reduce energy consumption within data centres. Personal computers and mobile devices, such as smartphones and tablets, are also significant sources of IT energy costs. These devices are often left on even when not in use, leading to energy wastage. Network equipment, such as routers and switches, also consumes energy even when not in use.

To address the energy consumption of IT, businesses must take a proactive approach. By identifying and addressing the top sources of IT energy costs, business leaders can reduce energy consumption, save on energy bills, and enhance their bottom line. In a world where sustainability is becoming increasingly crucial, companies that adopt green IT initiatives will not only reduce their environmental impact but also be better placed to succeed in a changing business landscape. Virtualisation technologies such as virtual desktop infrastructure (VDI) is an effective solution to reduce IT energy costs It consolidates multiple physical servers into a single virtual machine, resulting in lower energy consumption. With a VDI solution in place, companies can continue the usage of legacy software and applications instead of purchasing replacement solutions, which may be ecofriendlier and more sustainable if those solutions require less computing power to operate (among other factors). Optimising power management strategies can also help. Setting up automated power management policies that turn off inactive devices and put them into sleep mode is one way to do this. Additionally, optimising cooling systems in data centres can save a considerable amount of energy and reduce costs.

Cloud computing is another viable solution that can reduce energy consumption. By switching to remote or hybrid work options, therefore reducing the need for on-site servers and data centres, cloud can be more environmentally friendly and an effective way to reduce energy consumption. The scalability of cloud computing also allows organisations to scale their IT infrastructure up or down, depending on their needs.

In the world of business, green technology is no longer a trend but rather a necessary aspect of sustainable practices and futureproofing an organisation. As we witness a rapid expansion in technology usage, it is imperative that we address the energy consumption of IT. The good news is that there are multiple strategies that organizations can implement to reduce energy costs and improve the sustainability of IT operations. By adopting these strategies, businesses can create a more environmentally conscious future while staying financially competitive. It is time for businesses to take a proactive approach and embrace green IT initiatives for a better tomorrow.