What is Green Tech and Its Role in Sustainability

Disclaimer: this is an automated translation from Italian. Go to the original article.

The term 'Green Tech', which entered the Italian vocabulary in 2008, is defined by the Encyclopaedia Treccani as 'clean technology in the service of ecology'. This concept refers to the use of technology to develop environmentally friendly products and services, with the aim of reducing pollution, minimising environmental risks and preserving natural resources in the short and long term. In addition, Green Tech is closely related to clean technology, which includes products and services that improve operational performance by reducing costs, energy consumption, waste and overall negative environmental impact.

The European Commission estimates that some EUR 92 billion are needed between 2023 and 2030 to boost the clean technologies supply chain, in line with the Net-Zero Industry Act. The investments are needed to revive EU production and are based on five specific technologies: wind, solar photovoltaics, heat pumps, batteries and electrolysers. However, this investment represents only a part of the total needs, estimated at EUR 477 billion per year for the green transition, with an additional EUR 35 billion to reach the goals of the Green Deal and REPowerEU. In addition, the Commission finalised the proposal for the new generation of own resources, including a temporary resource based on company profits. This initiative follows the political agreement on the 'Ready for 55%' package, which aims to make EU policies compatible with climate neutrality.

In the landscape of sustainable technologies, it is important to distinguish between Green Tech, Clean Tech and Climate Tech, as each of these terms represents specific approaches and objectives that are crucial to guide investments and policies towards a more sustainable future. In response to the urgency of addressing climate change, the concept of Climate Tech emerged, focusing on mitigation and adaptation to climate change. This category includes technologies to reduce greenhouse gas emissions, develop renewable energy sources and improve energy efficiency, as well as carbon capture and storage solutions. Climate Tech aims to reduce the negative impact of human activities on the environment. Green Tech also promotes technologies that promote biodiversity conservation, sustainable agriculture, and responsible management of natural resources.

Green Tech uses innovative IT systems and production processes to monitor and reduce emissions of CO2 and other greenhouse gases, contributing significantly to decarbonisation. The objectives can be summarised in 3 categories:
1. Decrease waste production without compromising production efficiency;
2.To promote socio-economic development through the creation of competitive green products;
3. Optimise energy costs
. In addition, Green Tech is committed to achieving objectives in line with the ESG (Environmental, Social, Governance) parameters, ensuring responsible business practices and strengthening the connection between technological investments and environmental impact to increase digital sustainability.

The new clean energy economy, driven by solar photovoltaics and electric vehicles, offers optimistic prospects for the future. Investments in this sector have increased by 40 per cent since 2020, mainly due to the need to reduce emissions, but also for sound economic reasons. Energy security is a key factor, especially in countries dependent on fuel imports, as are industrial strategies and job creation in clean energy. However, not all clean technologies have a smooth implementation, with some supply chains, particularly in wind power, coming under pressure. The IEA, in its update of the Action Plan for Achieving Net Zero Emissions Targets (Net Zero Roadmap), concluded that although the pathway to limit global warming to 1.5 °C is difficult, it remains feasible.

There are many economic incentives to stimulate the adoption of sustainable technologies in the IT sector. These can include tax breaks, direct subsidies and subsidised funding for green tech research and development projects. In addition, there are certification initiatives that reward the most environmentally virtuous IT companies. Certifications such as the LEED (Leadership in Energy and Environmental Design) for sustainable buildings and the Energy Star certification for the energy efficiency of electronic products. In addition, ESG-certified companies achieve higher turnover than their competitors and improve their brand reputation, as shown by a recent report by B Corp.

In this context, the XNatura Platform by 3Bee Ecosystem supports companies and municipalities in monitoring their impacts and dependencies on nature, with the aim of defining customised climate strategies. The platform assigns a risk score that highlights which of its sites need priority action, guiding strategic planning in accordance with the CSRD and international standards, including ESRS E4 and GRI 101. After an initial assessment phase, a Biodiversity Strategist, a technical figure in the 3Bee team trained to accompany partners in defining a tailor-made biodiversity regeneration and conservation strategy, steps in. XNatura integrated platform by 3Bee Ecosystem for reporting on biodiversity, climate and nature thus enables companies, including those in the energy, construction and infrastructure sectors, to understand how to improve their impact on biodiversity while meeting regulatory compliance.