Digital Technology takes a big leap in facilitating Green Environment: Siddharth Mehta

Siddharth Mehta, Religare’s former director talks about sustainable digitalization in India that makes a hefty leap in facilitating eco-friendly approach towards the environment.

More than any other breakthrough in human history, digital technology has been at the forefront of completely overhauling every aspect of our existence. New-age technology has exploded throughout the first 20 years of this century, from cellphones and social media to digital banking and healthcare. 

As Siddharth Mehta, Religare, former director highlighted the concern that however, digital technology has helped human in every aspect in this new era but how about the environment. Does the digitalization really help the environment sustain for our next generation? So, the answer is ‘Yes’, disruptive technology has transformed almost every industry by enabling instant communication, instant access to data from anywhere, increased productivity, and the availability of goods and services. It has also had a significant impact on global socioeconomic dynamics by helping millions of people escape poverty. Numerous well-researched studies show that the digitization of sectors has significantly increased economic development. Additionally, digital technology has been crucial in the global fight against the coronavirus epidemic.

Rapid digitization is having an impact on the environment. It is changing the way we perceive, understand, and engage with our surroundings. It has an impact on how we respond to environmental problems as well. For instance, the digital economy has significantly lessened the need for paper money during the past ten years, hence reducing associated carbon emissions to a significant extent. On the other hand, each transaction involving digital currency like cryptocurrencies results in hundreds of tons of carbon emissions.

Through the facilitation of emissions reductions across the global economy and the regulation of emissions produced by computers, digital technology has the ability to support sustainable transitions to low-carbon societies. Through transformational transformations, they may manage and reduce their environmental impact, leading to a more dramatic shift than optimization.

These intangible networks may support the development of low-carbon living and working practices, enabling individuals to choose a lifestyle that is friendly to the environment in all facets of daily life.

By removing the need for postal delivery, e-invoicing systems have a direct influence on cutting down on paper use, CO2 emissions, and fossil fuel pollution. In addition, there are significant advantages for businesses related to improved system performance and lower costs, including: Decreased mistakes as a result of process automation, Decreased processing times, and Increased security and secrecy of operations.

Digital signatures, digital storage, and digital document preservation may all be used to cut down on the use of paper and toner. In order to improve the usage of electronic document creation and interchange throughout the management process, less paper will be used. Beyond just being environmentally beneficial, these solutions provide businesses a paperless viewpoint that suggests a new way of conducting business.