From innovative technologies revolutionizing environmental impact to impactful social initiatives fostering community engagement, this short piece is a roadmap for SMEs seeking to forge a path towards a more sustainable and socially responsible future. Whether it's harnessing cutting-edge tech or championing social causes, see how SMEs can enact change and thrive in a sustainable ecosystem.
E: Environment
Reducing fossil fuel usage and emissions
There are many innovative solutions and technologies that businesses can incorporate . Solutions include changing energy sources from fossil fuels to renewable energy such as solar or wind power. Or implementing more energy efficient technologies, which either optimize energy usage or reduce overall consumption.
Example: The company Industrial Solar GmbH, based in Germany, has innovative technology which helps businesses that require steam in their manufacturing process to use solar energy to generate steam instead of fossil fuels. Or Meva Energy, that have developed a technology that uses locally-produced biomass residue to create a renewable gas replacement for industrial burners, as opposed to electrical energy.
Reducing Water Pollution
There are many innovative solutions which can reduce or even stop water pollution and incorrect water disposal. These include treating the wastewater to remove pollutants pre-disposal, or reusing the water within the facility for processes that don’t require high-quality water. Or implementing green infrastructure which can function as a natural filter before it reaches water bodies.
Example: Technologies like NEOSTEP, developed by NEREUS, offer a way to transform wastewater into recovered water. This means companies can recycle up to 95% of their wastewater, and avoiding 9.2 tons of Co2 emissions.
Reducing Chemical Usage
There are many methods that can reduce chemicals in, for example the textile production. These include; substituting hazardous chemicals with biological and environmentally friendly ones, changing dyeing techniques from chemical to waterless or air drying techniques, or using digital printing instead of chemical dyeing.
Example: Color Fix, a UK company, have developed an innovative dying process which turns bacteria into into high-value pigments and dyed textiles. It does this through identifying enzymes responsible for natural colours of plants and animals, modifying bacteria to produce these enzymes, and then transferring the bacteria onto the fabric. In comparison to traditional dyeing methods using chemicals, Color Fix’s process utilizes 80% fewer chemicals, reduces water consumption by 77%, and lowers carbon dioxide emissions by 31%.
Reducing Air Pollution
There are many different strategies and technologies that can used to reduce air pollution into the atmosphere. For example switching to cleaner energy sources, green building practices, becoming more energy efficient, installing monitoring systems to measure emissions and remove them before they are released into the atmosphere, and promoting greener transportation for employees and workers.
Example: Technologies like SLB’s End-to-end Emissions Solutions (SEES) can detect and eliminate methane emissions, contributing to cleaner air and a healthier environment. Once detected, the technology can eliminate 120 mega-tonnes of methane annually. That is 120 million kgs.
Reducing Waste Disposal
Reducing waste disposal normally involves the adoption of circular economy principles. In practice, this would include reusing materials, extending product lifecycles, and implementing take-back schemes for products at the end of their useful life. Other impactful strategies are: source reduction, waste segregation and recycling, composting organic waste, waste to energy conversion, waste audits and management systems, as well as education and awareness programs.
Example: The Hong Kong Research Institute of Textiles and Apparel, has created the “Green Machine” in collaboration with H&M, a machine which does “end to end recycling” by transforming garments into post-consumer textiles to be used as raw materials in a new production cycle. It does this by recovering PET fibres from old garments, which can be used for re-spinning, and production of a new fabric. Also, it converts cotton fibre into a type of powder which can be utilised in functional products, such as super-absorbent materials and regenerated fibres.
S: Social
Reducing Human Capital Risks
Let’s have a more detailed look at how innovative solutions can transform the landscape of labour practices and worker well-being. Ultimately, whilst technology can be useful for companies, evaluating company policies and conducting Human Rights Due Diligence (HRDD) is crucial in both understanding and addressing the human capital risks that may face a company. Plus, help from experts in this field can provide personalised guidance and assistance in how to update and implement policies that protect workers against risks.
Example: The Danish Institute of Human Rights self-assessment tool, is a resource used to assist businesses in conducting due diligence related to human rights. The tool, split into 8 categories and each with between 30-100 pages of questions is used to help companies assess their operations and supply chains for potential human rights violations, and subsequently, take appropriate actions to address any identified issues.
Another example is the Mekong Club. The Mekong Club is a non-profit organization focusing on working with the private sector to address modern slavery and related crimes. Modern Slavery is actually a lot more common than we think. Currently, 49.6 MILLION people are living in modern slavery in 2021, of which 27.6 are in forced labour. As a solution, they offer comprehensive support, including training, consultations, policy reviews, and community engagement. By collaborating with Mekong Club, businesses can gain valuable tools to combat human trafficking and forced labor within their supply chains.
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