Editor’s choice
Study reveals the critical relationship between digitalisation and sustainability A
BB has released the findings of a new global study of international business and technology leaders on industrial
transformation, looking at the intersection of digitalisation and sustainability. The study, “Billions of better decisions: industrial transformation’s new imperative,” examines the current take-up of the Industrial Internet of Things (IoT) and its potential for improving energy efficiency, lowering greenhouse gas emissions and driving change. The goal of the new ABB research is to spur discussion within industry regarding opportunities to leverage the Industrial IoT and empower companies and workers to make better decisions that can benefit both sustainability and the bottom line. “Sustainability goals more and more are a
crucial driver of business value and company reputation, and Industrial IoT solutions are playing an increasingly important role in helping enterprises achieve safe, smart and sustainable operations,” says Peter Terwiesch, president of ABB’s Process Automation business area. “Unlocking insights hidden in operational data holds the key to enabling literally billions of better decisions throughout industry and acting upon them, with significant gains in productivity, reduced energy consumption and lower environmental impact.” The study, commissioned by ABB, found
that an organisation’s “future competitiveness” is the single greatest factor – cited by 46 per cent of respondents – in industrial companies’ increased focus on sustainability. Yet while 96
12
per cent of global decision-makers view digitalisation as “essential to sustainability,” only 35 per cent of surveyed firms have implemented Industrial IoT solutions at scale. This gap shows that while many of today’s industrial leaders recognise the important relationship between digitalisation and sustainability, the adoption of relevant digital solutions to enable better decisions and achieve sustainability goals needs to accelerate in sectors like manufacturing, energy, buildings and transport.
Further key learnings from the study
71 per cent of respondents reported greater priority given to sustainability objectives as a result of the pandemic
72 per cent said they are “somewhat” or “significantly” increasing spending on Industrial IoT due to sustainability
94 per cent of respondents agreed the Industrial IoT “enables better decisions, improving overall sustainability”
57 per cent of respondents indicated the Industrial IoT has had a “significant positive effect” on operational decision-making
Perceived cybersecurity vulnerabilities are the number one barrier to improving sustainability through the Industrial IoT
Win-Win scenarios With the industrial iot
With 63 per cent of executives surveyed strongly agreeing that sustainability is good for their company’s bottom line, and 58 per cent also strongly agreeing it delivers immediate business value, it is clear that sustainability and traditional priorities of Industry 4.0 efforts – speed, innovation, productivity, efficiency, customer-centricity – are increasingly intertwined, opening up win- win scenarios for companies looking to drive efficiency and productivity while making strides on climate change. “The International Energy Agency
estimates that industry accounts for more than 40 percent of global greenhouse gas emissions today,” says Terwiesch. “If we are to reach climate objectives such as the UN’s Sustainable Development Goals and the Paris Agreement, industrial organisations need to implement digital solutions as part of their sustainability strategies. Embracing these technologies at all levels – from the boardroom to the facility floor – is key, as every member of the industrial workforce can become a better decision-maker when it comes to sustainability.”
aBB innovations for sustainaBility
ABB is committed to leading with technology to enable a low-carbon society and a more sustainable world. Over the past two years,
February 2022 Instrumentation Monthly
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