With just six years remaining to achieve the United Nations Sustainable Development Goals (SDGs) by 2030, the Asia Pacific region faces a pressing and formidable challenge.
The recently released 2030 Asia Pacific SDG Progress Report by the Economic and Social Commission for Asia and the Pacific (ESCAP) paints a stark picture, revealing that at the midpoint, the region has made less than 15% of the necessary progress towards the SDGs. The report also predicts that if current trends persist, it will take an estimated 42 years for the region to achieve the 2030 agenda, falling significantly short of reaching 90% of the 118 measurable SDG targets.
This sobering analysis underscores the urgent need to multiply efforts and accelerate progress. To address this challenge, corporates in the Asia Pacific & Japan (APJ) region must adopt an innovation mindset and place sustainability at the forefront of the business agenda. In fact, sustainability can also be a powerful driver of innovation, propelling companies forward on the path to success in today’s digital era.
Sustainable innovation is not limited to short-term gains but creates long-term value for both businesses and the planet. The Dell Technologies Innovation Index, which polled 6,600 business leaders across 45+ countries, reveals that more than one-third of companies (35%) in Malaysia – the same percentage as the APJ region – consider climate change as an accelerator of innovation.
Additionally, the research shows that momentum for sustainability innovation is steadily growing in our region. Half of the companies (50%) in Malaysia are actively reducing their overall IT carbon footprint, recognising the critical role of technology in addressing environmental challenges. Furthermore, 37% of businesses in Malaysia (40% in APJ) are turning to technology to gain greater visibility into their carbon impact, enabling them to make data-driven decisions for sustainability.
This emphasis on sustainability is also being prioritised by the Government, having – for the first time – set SDG indicator targets and finalised nine accelerator initiatives to achieve SDGs in the country. This is to ensure a more effective implementation of SDGs towards the country’s 2030 Agenda for Sustainable Development (Agenda 2030).
Innovating for sustainability, sustainably
In today’s economic climate, innovation has never been more important for organisations to stay ahead of the curve and build resilience. While sustainability evidently drives innovation forward, businesses also have a responsibility to ensure that innovation is carried out efficiently and with minimal environmental impact.
For one, IT decision-makers (ITDMs) in APJ can leverage innovative technologies such as edge computing, artificial intelligence/machine learning (AI/ML), and as-a-service (aaS) models to manage energy consumption effectively, improve energy efficiency, and act upon data insights to drive sustainability. Encouragingly, the Dell Technologies Innovation Index also found that more than half (57%) of companies in Malaysia are already progressing in this space, embracing technology as a powerful tool for sustainable practices.
For example, innovative consumption models such as aaS or on-demand solutions promote sustainable resource utilisation by aligning technology consumption with actual needs – therefore reducing waste and optimising resource allocation. Businesses that embrace these flexible consumption models can not only reduce their environmental impact but also benefit from increased efficiency and cost savings.
Additionally, as digital transformation and the consumption of technology become more widespread, the greening of data centres has become crucial. As businesses rely more heavily on data centres, optimising their energy consumption becomes paramount. Currently, 48% of businesses in Malaysia are actively exploring methods to reduce energy use in their data centres.
[i]By investing in energy-efficient infrastructure and adopting best practices, organisations can lead the way in sustainable data management, setting a positive example for the industry.
While technology can help drive efficiencies, there comes a day when these devices eventually reach their end of life. It is therefore equally critical that businesses take active steps and work with the right partners to retire and recycle their end-of-life IT equipment, in order to minimise electronic waste and foster a circular economy. Dell Technologies’ Asset Recovery Services, for example, helps businesses with the proper disposal and recycling of IT assets to reduce the environmental footprint of the technology industry. Notably, the practice is not new in Malaysia and many are already engaged in initiatives to retire and recycle IT equipment responsibly.
It is also encouraging to note that the government has launched a National Circular Economy Council (NCEC) to unite stakeholders to accelerate the transition of waste management from a linear economy to a more holistically circular one.[ii] The NCEC will focus on matters related to policies, laws, implementation of related strategies and action plans, and the commitment and collaboration between the government and the private sectors.
Sustainable innovation: A win-win for businesses and the planet
The benefits of sustainable innovation are two-fold, generating value for both our environment and the bottom line. By integrating sustainability into their innovation agenda, companies can reduce environmental impact, enhance resilience, and improve operational efficiency. Furthermore, embracing sustainable practices has become a critical consideration for businesses to not only attract customers and investors but also to engage current and future employees.
As the Asia Pacific region continues its pursuit of the SDGs, collaboration and collective action are essential. While sustainable innovation can and should be driven at the company level, governments, businesses and individuals must also come together to drive meaningful impact. Partnerships between the public and private sectors can facilitate knowledge sharing, resource mobilisation, and the development of innovative solutions to address pressing sustainability challenges. Cross-industry collaborations can foster innovation and create synergies that accelerate progress towards the SDGs.
With less than a decade to go, our region now stands at a critical juncture – where sustainable innovation can lead the way towards achieving the UN SDGs by 2030. Despite the challenges highlighted in the 2030 Asia Pacific SDG Progress Report, the growing momentum for sustainability innovation is encouraging. Businesses in APJ should continue to embrace sustainable practices and leverage cutting-edge technologies to make significant contributions to sustainable development.
[i] https://www.nst.com.my/business/2023/10/963188/riding-data-centre-wave
[ii] https://www.nst.com.my/news/nation/2023/09/952091/national-circular-economic-council-set-handle-solid-waste
