The Economics of Green Technology

 Covid-19 crisis increased the tendency towards the new form of sustainable development where technology may perform the role of accelerator. Did you realize that the World Bank has cautioned that by 2030, climate change has the potential of driving 100 million individuals into poverty Climate change is amongst the biggest challenges to economic stability besides the fact that its severe effects have been felt on the environment and individuals. This situation is clearer and worsens following the Covid-19 passage. Due to the pandemic, the world economy has come to a standstill as we have never seen before, which brings us to ask such questions as.

What will the world be like after Covid-19 Will the economy be the same as we see it? How is the sustainable economic development the most feasible way to be promoted Some answers to these questions were given at the XI Petersberg Dialogue which took place at the end of last April and in a telematic format, in the first time ever. And in that conversation, it was concluded unanimously by 30 ministers around the world that the recovery of the economy after the crisis that will be brought by Covid-19 must be carbon-neutral, but resilient and also fairer and more inclusive.

Technology Transfer

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Also, Spain, along with other nations, has signed a letter asking Brussels to use the European Green Deal, centered on digitalization, decarbonization, and resilience as the prime lever of post-crisis recovery caused by the pandemic health situation. The ministers of 13 European countries affirm that 2021 requires "an increase in investments, notably in the areas of sustainable mobility, renewable energies, building rehabilitation, research and innovation, biodiversity recovery and the circular economy. The technology has a central role in this roadmap as a driver of all.

Transformations needed to confront climate change, to get the Sustainable Development Goals (SDGs) established by the UN, and as the primary green economy driver. To do this, the public and the private sector must invest in it, with an increasingly understood role of companies in solution of this global issue. To that end, Indra is already developing the solutions and services capable of supporting the transition on four fronts with a serious contribution to climate change, where it also has solutions that are leading in the world smart cities and sustainable buildings; smart mobility and sustainable transportation; green energy, smart grids, and renewables and Earth monitoring and natural resource protection.

Implications for Climate Policy

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Solutions that positively affect the environment Minsait, a subsidiary of the Indra Information Technologies, has already achieved a greater reduction of over 35 per cent of water used in irrigation and over 45 per cent of energy used in light and public buildings through its smart cities platform. In its turn, the fiber optic hydrocarbon and water transport network monitoring system developed by Minsait enables to reduce by 75 percent CO2 emissions related to traditional surveillance activities. Likewise, monthly pollutant emissions have been reduced by between 15 and 25 per cent in railways and six per cent in road traffic on a highway owing to Indra smart mobility and sustainable transport solutions.

Which use big data and artificial intelligence. In terms of Earth monitoring and resource safeguard, Indra, together with the European Space Agency (ESA), has offered Earth observation remedies to the Indonesian metropolis of Palu, which has enhanced its tsunami resistance abilities. Countries save seven euros in economic losses saved for every euro invested in the technology of Indra that minimizes the vulnerability of the population to the disasters occurring through the application of the satellite technology. These are only some tangible illustrations of what technology is capable of provided that it is geared toward making this world a more sustainable environment.

The Clean Development Mechanism

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Sustainability enhancing corporate policies Indra has the desire to strengthen this vision and make sustainability a part of everything in the organization, and to that end, it has established a Sustainability Committee within its Board of Directors at the end of 2019, chaired by Silvia Iranzo. Our desire is to enhance our governance framework and the integration of sustainability standards in decision-making process in the company. We are also incorporating sustainability in our strategy because we want it to become one of the differentiating factors of Indra adds Manuel Ausaverri, Director of Strategy, Innovation, and Sustainability at Indra.

Besides revising and reaffirming its sustainability policy, Indra also possesses corporate policies that advocate respect and care of the environment and, as a part of its cultural change, is developing a culture of environmental responsibility among its professionals and stakeholders, with different awareness campaigns and including, e.g., environmental volunteering as one of the three lines of action in this field. And with these lines of action, we want to keep being an active player in the fight against climate change, one of the leading companies in sustainability in the world and one of the key players in a more sustainable economic rebound after the crisis that the pandemic has left.

Conclusion

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But we also would like to come up with products and services that would make our clients more sustainable in their activities, says Ausaverri. Indra has been listed on the Dow Jones Sustainability Index (DJSI) during the last 14 consecutive years and on the FTSE4Good Index during the last four, playing an active role in helping to meet the United Nations Sustainable Development Goals (SDGs); as is also the case of its subsidiary Minsait, which has also been listed by this organization, as well as by analysts at Gartner or IDC, in some of its most innovative and environmentally-beneficial solutions.

And the thing is that Indra already has the solutions that are already contributing to the global climate action allowing to use resources better, making governments and companies more sustainable, and promoting the creation of a green economy. In addition, it is also betting on technology as one of the main elements of the future and as a solution to face the post-Covid-19 economic situation, in which it will be essential to rethink our cities, our work formats, safer and more sustainable mobility, green efficient energy, and innovative solutions that respect the environment and help to preserve natural resources and people even from space. How Indra responds to these needs will form the subject of the next posts.