How Technology Can Bridge the Gap Between COP29 Ambitions and Real-World Outcomes
SAP discusses the outcomes of COP29 in Baku, Azerbaijan, highlighting the private sector's role in implementing climate commitments. The article emphasizes three key areas: the energy transition as an economic growth driver, the rising importance of circular economy, and technology's role in sustainability.
The company outlines three technological approaches to address climate challenges: leveraging ERP systems for sustainability data automation, using generative AI for climate solutions and circular products, and focusing on product-specific carbon footprints. SAP emphasizes the need for collaboration between sustainability and financial officers, along with globally harmonized policies and carbon accounting frameworks.
SAP discute i risultati del COP29 a Baku, in Azerbaijan, evidenziando il ruolo del settore privato nell'attuazione degli impegni climatici. L'articolo sottolinea tre aree chiave: la transizione energetica come motore di crescita economica, l'importanza crescente dell'economia circolare e il ruolo della tecnologia nella sostenibilità.
La società delinea tre approcci tecnologici per affrontare le sfide climatiche: sfruttare i sistemi ERP per l'automazione dei dati di sostenibilità, utilizzare l'IA generativa per soluzioni climatiche e prodotti circolari, e focalizzarsi sull'impronta di carbonio specifica per prodotto. SAP enfatizza la necessità di collaborazione tra funzionari per la sostenibilità e la finanza, insieme a politiche armonizzate a livello globale e quadri di contabilità del carbonio.
SAP discute los resultados de COP29 en Bakú, Azerbaiyán, destacando el papel del sector privado en la implementación de los compromisos climáticos. El artículo enfatiza tres áreas clave: la transición energética como motor de crecimiento económico, la creciente importancia de la economía circular y el papel de la tecnología en la sostenibilidad.
La empresa esboza tres enfoques tecnológicos para abordar los desafíos climáticos: aprovechar los sistemas ERP para la automatización de datos de sostenibilidad, utilizar la IA generativa para soluciones climáticas y productos circulares, y centrarse en las huellas de carbono específicas de los productos. SAP enfatiza la necesidad de colaboración entre los responsables de sostenibilidad y finanzas, así como políticas armonizadas a nivel global y marcos de contabilidad del carbono.
SAP는 아제르바이잔 바쿠에서 열린 COP29의 결과를 논의하며, 기후 약속 이행에서 민간 부문의 역할을 강조합니다. 이 기사는 세 가지 핵심 영역을 강조합니다: 경제 성장의 원동력으로서의 에너지 전환, 순환 경제의 중요성이 증가하는 것, 그리고 지속 가능성에서 기술의 역할입니다.
회사는 기후 문제를 해결하기 위한 세 가지 기술적 접근 방식을 제시합니다: 지속 가능성 데이터를 자동화하기 위한 ERP 시스템 활용, 기후 솔루션 및 순환 제품을 위한 생성형 AI 활용, 그리고 제품별 탄소 발자국에 집중하는 것입니다. SAP는 지속 가능성 및 재무 책임자 간의 협력 필요성과 함께 전 세계적으로 조화된 정책 및 탄소 회계 프레임워크의 필요성을 강조합니다.
SAP discute des résultats du COP29 à Bakou, en Azerbaïdjan, en mettant en avant le rôle du secteur privé dans la mise en œuvre des engagements climatiques. L'article met l'accent sur trois domaines clés : la transition énergétique comme moteur de croissance économique, l'importance croissante de l'économie circulaire et le rôle de la technologie dans la durabilité.
L'entreprise présente trois approches technologiques pour relever les défis climatiques : tirer parti des systèmes ERP pour l'automatisation des données de durabilité, utiliser l'IA générative pour des solutions climatiques et des produits circulaires, et se concentrer sur les empreintes carbone spécifiques aux produits. SAP souligne la nécessité d'une collaboration entre les responsables de la durabilité et des finances, ainsi que l'importance de politiques harmonisées au niveau mondial et de cadres de comptabilité carbone.
SAP erörtert die Ergebnisse von COP29 in Baku, Aserbaidschan, und hebt die Rolle des privaten Sektors bei der Umsetzung von Klimaverpflichtungen hervor. Der Artikel betont drei Schlüsselbereiche: den Übergang zur Energie als Motor für wirtschaftliches Wachstum, die wachsende Bedeutung der Kreislaufwirtschaft und die Rolle der Technologie in der Nachhaltigkeit.
Das Unternehmen skizziert drei technologische Ansätze zur Bewältigung klimatischer Herausforderungen: die Nutzung von ERP-Systemen zur Automatisierung von Nachhaltigkeitsdaten, den Einsatz von generativer KI für Klimaschutzlösungen und kreisförmige Produkte sowie die Fokussierung auf produktspezifische CO2-Bilanzen. SAP betont die Notwendigkeit der Zusammenarbeit zwischen Nachhaltigkeits- und Finanzverantwortlichen sowie global harmonisierten Richtlinien und CO2-Buchhaltungsrahmen.
- SAP positions itself as a leader in sustainability technology solutions
- Company demonstrates strategic alignment with growing ESG market demands
- Highlights potential revenue opportunities in sustainability technology and circular economy solutions
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NORTHAMPTON, MA / ACCESSWIRE / December 16, 2024 / SAP
The 29th UN Climate Conference (COP29) in Baku, Azerbaijan, aimed to advance a new climate finance goal and inspire stronger national climate commitments. While progress was made, the private sector must now play a pivotal role in turning these ambitions into actionable outcomes. Central to this effort is the energy transition, one of the key economic growth drivers of our time.
The energy transition is creating a profound shift across industries and global economies. Amplified by technological innovation and intense competition, it is reshaping sectors and shifting economies toward renewable energy. This change is not only an environmental necessity but also a catalyst for economic growth, challenging the traditional dominance of fossil fuels. With capital investments increasingly directed toward renewable energy infrastructure, investors are aligning their priorities with sustainability, signaling that profitability and environmental stewardship can coexist. Yet, the ongoing prominence of oil and gas underlines the complexity and scale of this transition.
In parallel, the circular economy is gaining momentum as businesses address the dual challenges of material scarcity and carbon reduction. At COP29, there was significant discussion about how a circular approach focused on rethinking supply chains, redesigning products, and optimizing resources could reduce dependency on finite materials while driving sustainable economic growth. By adopting circular economy principles, businesses can minimize waste and keep valuable materials in circulation, contributing to a more resilient and sustainable future.
The Role of Business in Transforming Climate Commitments into Tangible Outcomes
One of the central discussions at COP29 was the need for harmonizing global standards for carbon reduction and accounting. Foreign policy players, along with the private sector, stressed the importance of mobilizing finance for sustainable capitalism. In particular, there was a call for clearer and standardized reporting frameworks to simplify the process and ensure transparency. One critical area was the importance of accurate data collection for carbon markets and product-level carbon accounting, which can help businesses engage consumers and reduce emissions.
There are three ways technology plays a pivotal role in addressing some of these challenges:
Sustainability data is available in every organization's ERP system, so it's time to start automating data collection and reporting processes to ease some of the regulatory burden.
Companies should leverage IT spending to support sustainability initiatives, specifically by applying generative AI to optimize climate solutions and create circular products.
Companies must shift focus on the carbon footprint of specific products to pinpoint areas with the most significant impact.
From Policy to Practice: How Technology and Global Standards Can Accelerate Climate Action
Empowered by technology and guided by clear policies, businesses have a unique opportunity to bridge the gap between high-level climate commitments and actionable, on-the-ground strategies.
Central to this is aligning sustainability and financial priorities. Effective climate action demands collaboration between chief sustainability officers and chief financial officers, as climate change has evolved from an ethical and environmental issue to a pressing financial imperative.
To accelerate progress, we need globally harmonized policies, rigorous carbon accounting frameworks, and advanced technology solutions. By embedding AI-driven innovation, robust reporting standards, and actionable insights into business operations, we can ensure that COP events, such as COP29 in Baku, are remembered as turning points - not just discussions. While the challenges ahead are formidable, the opportunities for transformative action are even greater - and SAP is here to lead the way on a low-carbon, circular future.
Sophia Mendelsohn is chief sustainability and commercial officer at SAP.
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SOURCE: SAP
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FAQ
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