German software titan SAP, currently enjoying the 10th anniversary of its own sustainability journey, is bent on enabling enhanced environmental, social and marine health among global enterprises through its suite of solutions.
In a 9 December blog post, Senior Vice President and Global Head of Innovation Services and Solutions, Maggie Buggie, said population growth and projections that more plastics will inhabit the seas than fish by 2050 are two vital sustainability issues that businesses worldwide must help to address. Those not convinced must consider the estimated US$1.6trn in damages caused by extreme weather, also by 2050 - a figure that can and must be mitigated by overhauling practices and striving for circular economies.
“I’m adamant that we have to step forward,” said Buggie. “If not us, who else? Because of our deep understanding of business processes within companies and across industries, we have the ability through our products and through our expertise to drill into the processes that will actually drive change.”
According to SAP, only 9% of the world economy is circular at present. While this is a disappointing figure, it also represents the huge opportunities for recycling and reusing products of all kinds. SAP views this 91% as $4.5trn in growth that’s yet to be realised - a staggering sum that is emblematic of the financial benefits that sustainable operations can bring.
The firm highlighted three key areas that its suite can serve for the betterment of sustainability programmes across industries and borders:
Enabling system collaboration on sustainable practices, as a broker and vehicle for a multi-industry view
Helping business to understand, control, manage, and take action on economic, social, and environmental impact
Focusing on the sustainable sourcing, design, and production of products and services
For more on SAP’s efforts, particularly in terms of how they relate to the UN’s Sustainable Development Goals, click here.