How next-generation technologies are driving the world’s transition to green economy

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    By Francisco Benedito,

     

     Co-Founder, Climate Blockchain

     

    Countries across continents have been accelerating their efforts to

    pass key policies that are aligned with the implementation of the

    Paris Agreement. Already, many nations have begun their

    decarbonization efforts and are about to become carbon neutral, which

    reflect their seriousness to live up to their commitment to build a

    carbon-free world for their citizens and the people around the world.

     

    Undoubtedly, as we race against time to achieve sustainable

    development, carbon emission is going to be the reference point for

    everything in the next 30 years. Today, governments are already

    preparing to execute mandatory regulations in their respective

    territories so as to make sure that both public and private sector

    entities toe the line when it comes to reducing their carbon footprint

    across different scopes of their activities and operations.

     

    Next-generation technology is going to remain at the core of the

    carbon footprint reduction efforts for many organizations. Modern

    tools will be the key for companies and organizations to increase

    their efficiency without further harming the environment.

     

    It is no surprise then that several institutions have already begun

    investing in solar and biomass power plants, renewable projects,

    carbon capturing, smart meters, and many other innovative projects

    designed to promote efficient and sustainable use of resources and

    protect our natural surroundings.

     

    These technologies have emerged as of late in the midst of mounting

    sustainability calls and rising global movement towards combating

    climate change.  Smart meters, for one, enable substantial energy

    savings, while modern innovative tools promoting efficient use of

    water have been developed as well.

     

    An example of an entity involved in green technology is Swiss

    cleantech company Climeworks. In partnership with Reykjavik Energy,

    Climeworks has developed a technology capable of directly capturing

    carbon dioxide from ambient air for permanent storage underground as

    per the description in the company’s website.  This innovative

    technology serves as a carbon removal solution, which is a huge stride

    in the ongoing global efforts to reverse the effects of climate

    change.

     

    In a bid to contribute to the international sustainability efforts,

    Swedish company Eco Wave Power has also developed its own green

    technology.  The organization created a patented, smart, and

    cost-efficient technology designed to turn ocean and sea waves into

    green electricity.

     

    Carbon trading has also emerged to reduce greenhouse gas emissions.

    Carbon credits marketplace provides organisations and consumers a

    single platform for carbon offsetting. Using blockchain technology,

    fintech company ClimateTrade, for instance, has built a platform where

    companies and consumers can offset their carbon footprint through

    investment in environmental projects as well as disruptive

    technologies developed to tackle the impact of climate change. One of

    the leading companies that sells its credits through ClimateTrade is

    Co2 Revolution.

     

    Co2 Revolution is at the forefront of promoting drone-powered

    reforestation, an approach that aims to address the problem of

    deforestation. Through tree-planting drones, we can now reforest

    extensive areas in a fraction of the time that it takes if we do it

    manually.

     

    On the issue of finite water supply, one of the biggest problems in

    the next few years is going to be the lack of pure water to drink and

    supply for irrigation, to name a few. We will have high shortages in

    some countries and most of the supply will not be fit for consumption.

     

    There is one company using artificial intelligence (AI) to find

    sources of water under the soil. WaterQuest is an eco-conscious

    socially responsible company established in 2015 based on AI-driven

    virtual prospecting program. The company deploys its technology to

    map, identify, develop, and manage decentralized, sustainable

    self-recharging perennial groundwater sources. It employs AI’s

    data-driven methods to model and forecast non-linear hydrological

    processes, in addition to handling large amounts of dynamicity and

    noise concealed in datasets.

     

    These are just some of the examples of the rising number of

    organisations across sectors that have been fully harnessing the power

    of technologies to help fast-track the global community’s transition

    to a green economy and ensure its path towards sustainable

    development.

     

    Admittedly, much still needs to be done in our shift to a green

    economy. Concerted efforts should be consistently implemented in this

    department to have a prosperous future without harming the planet. To

    discuss more on this, let’s meet at the World Green Economy Summit

    (WGES) 2019, which will take place on October 20th and 21st at the

    Dubai International Convention and Exhibition Centre.

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