Green Tech: Key Metrics For Green Tech Companies :
“Green tech” describes any technological system that minimises its ecological consequences throughout its life cycle. Green technology can also refer to methods of producing less harmful energy to the environment, such as solar or wind power, alternative fuels, and other technologies. Green technology companies have emerged in recent years to prevent further environmental degradation, reverse the effects of previous ecological damage, and preserve the planet’s natural resources. The development of green technologies has also seen rapid expansion in the Middle East. Saudi Arabia, for example, established the Green Initiative Foundation to ensure execution of both the Middle East and Saudi Green Initiative objectives.
Critical Metrics For Green Tech Companies
1. Reduction of CO2 Emissions
Companies use the greenhouse gas emission metric to figure out how much carbon dioxide, methane, and other greenhouse gases they release into the air. Carbon dioxide and other pollutants are released into the air when fossil fuels are burned. This is a significant cause of climate change. For GHG emissions to go down, energy efficiency needs to get better. Companies can achieve it by doing things like switching to renewable energy. Carbon accounting is often used to determine how much greenhouse gas (GHG) emissions are. In the Middle East, a regional initiative is being considered to offer clean food alternatives to 750 million people to provide clean fuel and reduce emissions.
2. Reduction of Energy Use/Increased Use of Renewable Energy
Greenhouse gas emissions and some other compounds that are bad for the environment are directly linked to energy use. It makes using energy the most critical factor affecting the sustainability of the environment. So, every company must measure and keep an eye on energy consumption. Green Tech companies are starting to use clean energy sources like solar and wind in their everyday work.
3. Reduction of Water Use / Increased use of Recycled Water
According to the UN, two-thirds of the world’s population will be affected by water scarcity by the year 2025. Evidently, water is a precious resource that is gradually becoming scarce in many parts of the world. Companies in the Green Tech industry, especially those in the manufacturing and fast-moving consumer goods (FMCG) sectors, use water consumption as the primary measure of their sustainability. They can also monitor water loss from leaks or evaporation. This should be measured along with the quantity and quality of water used and any water pollution financial and environmental impact. Also, leaders in the green technology industry are putting pressure on their suppliers to reduce and track how much water they use. This will save money and the environment.
4. Increased Use of Recycled and Recyclable Building Materials & Waste Reduction
Companies are starting to realise the importance of waste management to the economy’s growth. The term “waste” encompasses various materials, from toxic chemicals to leftover food and packaging to construction debris, factory rejects, and even dead animals. Materials that are already recycled, recyclable, routable, or circular can be used to replace plastic packaging and other single-use items. Some businesses are adopting circular frameworks to evaluate and monitor all of their material flows in an effort to reduce waste.
Sustainability through green technology is more crucial than ever as the world faces climate change, the depletion of resources, and more natural disasters. By keeping an eye on these metrics, we can ensure more green technology companies are headed in the right direction.
