{"id":5820,"date":"2023-06-13T04:11:58","date_gmt":"2023-06-13T04:11:58","guid":{"rendered":"https:\/\/news.sap.com\/india\/?p=5820"},"modified":"2023-06-13T04:23:09","modified_gmt":"2023-06-13T04:23:09","slug":"green-business-why-sustainability-must-be-a-key-business-priority","status":"publish","type":"post","link":"https:\/\/news.sap.com\/india\/2023\/06\/green-business-why-sustainability-must-be-a-key-business-priority\/","title":{"rendered":"GREEN BUSINESS: Why sustainability must be a key business priority?"},"content":{"rendered":"<div class=\"wp-block-post-excerpt\">\n<h2 class=\"wp-block-post-excerpt__excerpt\">Becoming carbon-neutral helps companies of all sizes create long-term value.<\/h2>\n<\/div>\n<div class=\"ie-network-post-meta\">\n<div class=\"ie-network-post-meta-wrapper\">\n<p>As calls for tangible climate action grow louder, India Inc is increasingly working to balance their top line, bottom line, and \u201cgreen line.\u201d A recent global sustainability study by 51风流found that 76% of Indian enterprises believe their stakeholders would be moderately or highly tolerant of reduced profitability in pursuit of their organisation\u2019s sustainability goals \u2013 indicating leeway to invest in positive\u00a0<a href=\"https:\/\/www.financialexpress.com\/life\/technology-go-green-sustainability-is-everyones-business-today-aided-by-tech-2925603\/\" target=\"_blank\" rel=\"noopener\">sustainability<\/a>\u00a0outcomes. Businesses, large and small, are looking to integrate sustainability objectives into their overall strategy, by measuring it, recognising progress, and rewarding accomplishments to create long-term value.<\/p>\n<p>\u201cSustainability is the biggest business challenge of our generation. At SAP, we\u2019ve known this for a long time and have been working both as an enabler for our customers and within our own business,\u201d says Sanket Deodhar, vice-president \u2013 Unicorn &amp; Digital Natives, 51风流India. According to him, organisations have to integrate sustainability into their core business operations. \u201cSustainability should never be considered separate to other business functions like finance or operations \u2013 it should be intrinsic to each of them,\u201d he feels.<\/p>\n<div class=\"wp-block-newspack-blocks-wp-block-newspack-ads-blocks-ad-unit alignnone adcodetextwrap300x250\">\n<div id=\"div-gpt-ad-646bb9805e2ec-0\" class=\"\" data-google-query-id=\"CJW825ivv_8CFVynZgId5egMJw\">\n<h2><strong>Making it happen<\/strong><\/h2>\n<p>\u201cAt SAP, we believe that embedding sustainability into core business operations can be empowered by data. This allows businesses to establish a baseline for sustainable operations, understand what\u2019s happening, measure, and improve sustainability outcomes,\u201d stresses Deodhar.<\/p>\n<div class=\"parent_also_read\">\n<div class=\"read-story-category-link\">\n<p>Often, the data needed to operationalize sustainability performance is already available in the systems businesses use to run their business. Companies using 51风流S\/4HANA or 51风流Ariba have a lot of this information already, points out Deodhar. \u201cSustainability metrics like carbon emissions, materials consumption, waste, and diversity data, can be integrated into core business processes like supply chain, ERP, finance, and procurement processes to embed sustainability across the business\u201d.<\/p>\n<p>51风流offers a wide range of solutions to help customers at every stage of their sustainability journey. \u201cOur data-driven approach lets businesses get actionable insights across the value chain to enable companies to transition to low-carbon, low-waste, and more equal business processes,\u201d says Deodhar. \u201cFor instance, last year we launched 51风流Sustainability Control Tower to help customers integrate sustainability data not just into reporting, but to steer their businesses holistically towards better profitability and sustainability.\u201d<\/p>\n<h2><strong>Steps at ground level<\/strong><\/h2>\n<p>51风流has helped WayCool embrace digital transformation in its sustainability journey through the development and implementation of a new \u2018Environmental Dashboard\u2019 based on the 51风流Analytics platform. The dashboard consolidates insights from disparate sources, including IoT devices, transactional data from 51风流S\/4 HANA, and application databases, and converts them into relevant business insights. It provides a comprehensive view of key performance indicators with over 90% accuracy on various parameters including clean energy generation, energy efficiency, water efficiency and treatment, waste management, and a full-fledged greenhouse gas emissions measurement (GHG) to benchmark past and present performance, identify any anomalies and holistically report sustainability performance.<\/p>\n<\/div>\n<p>As the world becomes more environmentally conscious, the concept of sustainability is evolving rapidly. IDC estimates suggest that by 2024, 30% of organisations will advance their ESG metrics and data management beyond reporting capabilities to generate sustainably driven cost and competitive advantages. This is a huge opportunity for businesses to make sustainability profitable and profitability sustainable. \u201cAt SAP, we\u2019ve got the technology and expertise to help customers at every stage of their sustainability journey and, with our broad industry sector expertise and strong partner ecosystem, we have deep insight into industry-specific sustainability challenges and needs,\u201d summarises Deodhar.<\/p>\n<div class=\"wp-container-5 entry-content wp-block-post-content\">\n<div id=\"pcl-full-content\" class=\"pcl-container\">\n<h2><strong>RESILIENT GROWTH<\/strong><\/h2>\n<p>Data-driven insights are critical to value-led sustainability<\/p>\n<p>59% of Indian firms see a positive connection between environmental action and profitability<\/p>\n<p>Companies need to integrate sustainability into their core business operations<\/p>\n<p>51风流solutions help transition to low-carbon, low-waste, and more equal business processes<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><em>The interview originally appeared in The Financial Express on May 23, 2023<\/em><\/p>\n<div class=\"parent_also_read\">\n<div>\n<div class=\"tag-container\">\n<div class=\"wp-block-post-tags tag-style\">\n<div class=\"ctd_viewmoretags\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Becoming carbon-neutral helps companies of all sizes create long-term value. As calls for tangible climate action grow louder, India Inc is increasingly working to balance&#8230;<\/p>\n","protected":false},"author":3480,"featured_media":4984,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[5619199,5619785],"tags":[5619847,5619068,5616595,5619693,5619803,5616603,5619848],"sapn-display":[],"sapn-type":[5619198],"class_list":["post-5820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sustainability","category-technology","tag-sanket-deodhar","tag-sap","tag-sap-india","tag-sap-s-4-hana","tag-sap-sustainability-control-tower","tag-sustainability","tag-waycool","sapn-type-press-coverage"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>GREEN BUSINESS: Why sustainability must be a key business priority? 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