How GenAI Is Becoming a Supertool For Sustainability Our planet is suffering from land degradation, biodiversity loss, and pollution of the air, land, and water. We can't imagine our future with the same conditions. But, Artificial Intelligence (AI) is coming up as a possible solid solution against fighting climate change

In India, various states are experiencing extreme heat waves in May. The temperature is nearly touching 50 °C, something that has never been seen before. Last year, NASA reported that 2023 was the hottest year ever; resulting in extreme heat, drought, and heavy rainfall. These events directly impacted hundreds of millions of people and wildlife around the world.

Our planet is suffering from land degradation, biodiversity loss, and pollution of the air, land, and water. We can't imagine our future with the same conditions. But, Artificial Intelligence (AI) is coming up as a possible solid solution against fighting climate change. It can sift through loads of data, spot patterns in seconds, and help us figure out how to handle climate-related challenges.

With AI we are better equipped to predict what might happen with the climate, adapt to changes, and take action to minimize the impact. It is like having an extra set of brains to tackle one of the biggest issues facing our planet. However, it is to be noted that individuals are the most responsible beings for environmental changes; artificial intelligence will aid if we are also responsible towards the earth's planet. Let's learn how AI can boost our fight for sustainability.

Real-Time Data Monitoring

AI, especially machine learning and computer vision, is changing how we monitor biodiversity and climate change. These advanced technologies can help people understand what causes biodiversity loss, support better decision-making and policy-making, and create new, eco-friendly business models. AI provides real-time data for projects like monitoring coral reefs and marine ecosystems. AI crunches huge amounts of information, figures out what might happen next, and helps us make decisions to lessen the impact of climate change. Aditi Balbir, Co-founder, EcoRatings said "GenAI can help in real-time decision-making and the need to evolve from consulting models to a more transparent ecosystem."

Data-Driven Solutions

Smooth operations are super important for cutting waste and helping the environment. Whether it is asset or inventory management, timing matters a lot for saving resources. AI crunches real-time data and predicts when machines need fixing and how much stuff we should have in stock. It also catches problems early, like when something is wrong in manufacturing, so we can fix it fast. Additionally, it helps in power usage which is very important for a sustainable future.

Dr. JP Gupta, Chairman- Environment and Climate Committee, PHDCCI said "the importance of transparency in sustainable initiatives and advocating for a goal-focused approach moving forward."

ESG and AI

Recently, AI gained a prominent place in promoting environmental, social, and governance (ESG) practices throughout the world. Investors, large to small Corporations, and governments are moving towards AI-driven climate models, Satellite imagery analysis, AI recruitment tools, and AI Fin-tech solutions to reach out to remote areas to create better policies that can promote ESG practices.

Rachna Sarup, Founder and CEO, B77 TechStyles, said "The apparel industry is the second-largest polluter. To reduce its impact and emissions, changes must extend beyond just the bigger companies. Smaller organizations and end consumers also need to be involved in the effort. B77 is amongst the early adopters of Gen AI solutions and works towards sustainability voluntarily."

Investors Betting

For green investors, AI is a game-changer. It can help them assess the climate risks of various projects and industries, guiding where they should invest their money. Additionally, it is crucial to assist early-stage startups in adopting AI. Doing so not only helps them secure funding and connect with decision-makers but also takes a big step towards addressing all 17 sustainable development goals.

Dr. Mahesh Kumar, Senior Principal Scientist, CSIR said "In the global changing scenario nowadays collaboration between industry, academia, and various other stakeholders is the need of the hour. The world is moving towards a sustainable future and a transparent system is crucial. Also, MSMES must be hand-holded to enable sustainable development and achieve sustainable development goals. He further elaborated that the industry should focus on manufacturing quality and sustainable products." On the same, Mahendra Rustagi, Co-Chair of the Environment and Climate Committee, PHDCCI stressed upon the significance of advancing on the ESG front and its potential benefits for companies when seeking investments from private investors or borrowing from lenders.

The comments were made at the sidelines of PHDCCI and EcoRatings' Seminar on 'Introducing Transparency in Sustainability.'