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Let’s dive into this topic and discover how such technologies align with current ESG goals from industry leaders in the technology sector.
The ESG Context
Net zero commitments from global governing bodies like the UN’s Paris Climate Agreement and an emphasis on corporate responsibility emphasize the need for ESG goals. Over the past decade, research on climate change, resource scarcity, and social inequities has pushed businesses to rethink their strategies. In-depth research presented by the World Economic Forum highlights how digital solutions could reduce global emissions by up to 20%.
ESG is a business imperative. It is a competitive advantage for attracting investors, keeping talent, and appealing to customers. Such demands have led some companies to engage in greenwashing, making transparency of ESG efforts paramount. Businesses need to communicate authentic ESG results. Bloomberg reports that 85% of investors believe ESG leads to better results, and transparent reporting will capture those funds.
The Baltic region is home to many leading businesses in the ESG movement. Lithuanian businesses are rapidly taking center stage as regional leaders, meeting global standards and regulations while establishing a hub for sustainable innovation.
Technology and ESG
Technology is looking forward to ESG integration through ideas like:
• Green Technology: Transforming industries by reducing carbon footprints. For example, telematics and fleet management solutions can optimize routes, reduce fuel consumption, and lower emissions. Using telematics to track something as simple as tire pressure could prevent a loss of fuel efficiency when tires are under pressure at a rate of 0.2% for every 1 psi. around 55%.
• Social Inclusion: Creating platforms that embrace global collaboration, fostering diversity by bridging communities that may require support. Platform partnerships like ERM and Workiva provide organizations with real-time data that streamlines ESG reporting.
• Ethical Technology Development: Transparency to fight greenwashing, particularly using AI that fosters fairness in global innovative impact. AI is mitigating greenwashing behaviors through tools like satellite imagery to verify ESG claims.
Companies That Adopt ESG
One of the Lithuanian ESG-adopting companies is Gurtam. As a global telematics and fleet management leader, Gurtam provides sustainable opportunities, including:
Wialon: The flagship platform brings real-time monitoring of fleet management, improves fuel consumption, and offers driver behavior analysis to improve efficiency. Wialon’s technology improves CO2 emission control functionality, ensuring clients meet EU and US emission reporting and competitive pressures. Wialon pointed out the trend of fleet electrification in 2024, a trend likely to continue to grow and need greater monitoring for efficiency.
flepsi: Backend integration of telematics devices and scalable data processing, granting those in the telematics and IoT sectors flexibility to configure thousands of specialized equipment. Having flepsi analytics as part of telematics allows for understanding key data points like fuel drain, idle time with the engine on, overspeeding, and more.
GPS Trace: Real-time tracking of vehicles and other valuable assets through user-friendly applications that reduce transportation-related emissions, optimize routes, improve vehicle maintenance, and promote efficient driving habits. Tracking reduces fuel consumption by up to 30% by providing drivers with more efficient routes.
A representative from Gurtam recently commented on ESG initiatives, saying: “Today, we talk extensively about digitalization, automation, and the incredible potential of modern technology to save fuel, reduce emissions, and forecast resource consumption, enabling smarter planning and savings. However, it’s important to recognize that only a stable and holistic transition to automated technologies and modern tools can truly drive sustainability and unlock the full benefits of integrating these solutions into fleet management.”
Challenges and Opportunities
Technology leaders like Gurtam help create opportunities for businesses implementing ESG goals through offerings like Wialon, flespi, and GPS Trace. However, more opportunities exist for global leaders to help educate businesses and organizations on integrating sustainable practices. There are many collaborations with governments proposing green initiatives or NGO activities that offer positive impacts on local and international environments.
Gurtam’s products, like Wialon, are crucial considering Lithuania's recent procurement of 275 electric buses and associated charging infrastructure. Regional efforts by Gurtam improve urban mobility, reduce emissions, and make business more manageable.
Conclusion
Organizations must remain focused on the rewards of a lasting contribution to global sustainability. Blending technology and sustainability together unlocks a better future in Lithuania and the rest of the world. There is a real opportunity for such efforts to pave the way to a brighter, greener tomorrow.
