What is Decarbonisation Technologies?
Definition
Technologies that support the reduction and extraction of carbon-dioxide (CO2) emissions, often through the use of low-carbon power sources or capture and storage, to achieve a net lower output of greenhouse gases into the atmosphere. Despite some of the challenges that the built environment sector faces on its journey towards net zero, emerging opportunities and levers exist to help drive ongoing decarbonization efforts. It is working in ecosystems; with customers, suppliers, institutions, investors and wider society that will further accelerate progress. This underscores our belief that what’s good for business and what’s good for people and our planet go hand in hand. As calls to fight climate change become more urgent, companies are finding ways to become part of the solution—and technology can help. McKinsey research indicates that cloud- powered solutions can fast-track the implementation of nearly half of the decarbonization initiatives required to achieve a 1.5°C pathway by 2050. “As companies gear up to comply with increasingly complex sustainability regulations, strategic use of cloud-powered technologies can be a crucial differentiator.” McKinsey Research Makeshift and retrofit technologies are near- to midterm options that allow decarbonization of existing assets – however, few of these technologies lead to complete decarbonisation. Transformational technologies provide full decarbonization in one solution, but commercial readiness will take years.
Lux Research
Clean energy technologies will play a vital role in achieving these goals, but their development and adoption need a big boost. Battling decarbonisation is going to require leaders to be more innovative than ever before. This will require us to rapidly develop technologically driven ideas that can be tested and scaled.
Forbes Technology Council
Despite some of the challenges that the built environment sector faces on its journey towards net zero, emerging opportunities and levers exist to help drive ongoing decarbonization efforts. Rather than focusing on incremental progress, industry players should embrace systemic change. In charting the way forward, it will be beneficial for businesses and governments to work together to help build collaborative global ecosystems, devise forward-thinking policies, and accelerate the adoption of supporting technologies.
Deloitte
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MSCA 2024 I VOL 7 I JUNE 2024
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