Data Viewpoint

Tech for sustainability tops the energy industry radar

June 22, 2021

  • 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.

Sign in to view or download this research.

Login

Lost your password?

Register

Insight. Inspiration. Impact.

Register now for immediate access of HFS' research, data and forward looking trends.

Get Started