Tech for sustainability tops the energy industry radar

• Over the next 2 years, over 90% of energy enterprises expect sustainability to drive their emerging technology adoption. Our Pulse Survey data for May 2021 also shows broader emerging technology trends in the energy industry: over 80% are implementing or have scaled AI, and 75% plan to increase spending (see AI is set for continued growth in the energy industry); over 90% are engaging with quantum computing.
• The tech for sustainability spectrum covers some of the most pressing demands on enterprise leaders – and these are exaggerated in an energy industry constantly under the environmental microscope: measuring and monitoring emissions, reporting to varying and harshening global standards, improving footprints to make net-zero emissions targets, and proving to investors and the public that the industry can move away from fossil fuels.
• Platforms, technology suites, and services are being combined and developed into comprehensive solutions to capture the enterprise demand to measure, monitor, report, and improve across a wide variety of sustainability metrics: from emissions footprints to all 17 UN Sustainability Development Goals.

The Bottom Line: The energy industry is undergoing a major transition towards renewable energy and away from fossil fuels.

Energy firms need to get their house in order, and digital technologies must play a vital role. We know what needs to happen. We know we need to reach net-zero as a planet by 2050, if not before. And if the energy industry doesn’t play a leading role in making this happen – with technology and service providers by their side – then they’ll be in for a rough time with regulators, the public, and their shareholders who one-by-one will change their view on just how sustainable a proposition they are to keep supporting.