As the world moves towards a more sustainable future, businesses are increasingly recognizing the importance of integrating ESG (Environmental, Social, and Governance) principles into their operations. These three factors are used to measure the sustainability and ethical impact of a business. Meanwhile, The Internet of Things (IoT) has revolutionized the way we live and work, enabling us to connect, monitor and manage devices from anywhere in the world.
A recent research by Inmarsat “Accelerating sustainable action through the Internet of Things (IoT)” highlights the intersection of IoT and ESG, revealing that IoT applications most closely associated with ESG, such as asset tracking, environmental monitoring, and supply chain optimization, are now set for huge growth. In fact, the report predicts that the market for ESG IoT solutions will grow from $1.8 billion in 2020 to $11.3 billion in 2026.
At Webee we are fully aware of the potential of IoT in positively impacting ESG factors, such as more efficient resource management, waste reduction, and improved transparency and accountability. In our recent ESG whitepaper, we have emphasized the significance of adopting sustainable practices and the role that IoT can play in achieving this goal.
Webee's track and trace solution is one of many examples of how IoT can positively impact ESG factors with cost-effective solutions that prove their ROI almost immediatly. By using IoT sensors, businesses can monitor the movement and location of their assets in real-time, optimizing their supply chain and reducing waste and emissions. This not only helps companies meet their ESG goals but also leads to cost savings and increased operational efficiency.
Businesses across the board are now taking their ESG responsibilities seriously. Respondents overwhelmingly agree that environmental issues are important to senior management at their business, with 96% indicating as much. The fact that corporate governance and social elements of ESG are given almost equal priority at 95% and 94% respectively, illustrates how sensitive respondents are to the need for action across the board.
Even as companies acknowledge their ESG responsibilities, barriers to entry have always been a deciding factor in delaying such decisions. With that in mind, the Inmarsat research highlights the importance of connectivity for IoT solutions, as it enables the transmission of data from IoT sensors and devices. Webee's IoT platform is designed with connectivity in mind, supporting a wide range of communication protocols and devices. For example, LoRaWAN's wireless, long-range connectivity and low power consumption combined with Webee's flexible solution can support a large number of devices over a wide area with low power consumption, making it ideal for massive IoT deployments, eliminating the need for expensive wiring and minimizing intrusion into an operation’s day to day
In conclusion, the intersection of IoT and ESG represents a significant opportunity for businesses to achieve sustainable growth while making a positive and sustainable impact. As the market for ESG IoT solutions continues to grow, businesses must stay ahead of the curve by adopting sustainable practices and embracing the potential of IoT to positively impact their operations.
Webee is committed to delivering scalable, energy-efficient, and secure IoT solutions that enable our customers to meet their ESG goals. Our team of experts is ready to answer any questions you may have and show you how our solutions can help you achieve your ESG goals. Don't wait, schedule your demo now and take the first step towards a more sustainable future.
