1 July 2021

This issue applies to our planet, as natural resources have been exploited for centuries. Research shows that the planet is unable to eternally support the current production and consumption model, global actions are needed to be taken to address the imperative world issue. As such, companies across different industries have shifted a higher proportion of focus on prioritising sustainability development to ensure current demands are met without compromising the ability of future generations to meet their needs.

According to Investopedia:

“The concept of sustainability is composed of three pillars: economic, environmental, and social—also known informally as profits, planet, and people. Increasingly, companies are making public commitments to sustainability through actions like reducing waste, investing in renewable energy, and supporting organisations that work toward a more sustainable future.”

Environmental sustainability matters specifically in the mining and utility sectors and should be embedded with and drive their core organisational mission and vision. Beyond profitability, they must constantly seek ways to drive innovation to be able to sustain their operations while taking into accounts to minimise carbon emission and environmental footprint, identify and manage positive and negative social impacts, thereby gain buy-in and support from stakeholders and eventually grow their capital. A key way for them to achieve this is through digital transformation.

With the advancement of technology in the 21st century, the technological revolution has tremendously transformed the digital and business world as a result of the changing dynamics of doing business. Digital technologies such as Internet of Things (IoT), cloud, real-time data analytics and artificial intelligence (AI) are now being relied on in the execution of sustainable business practices. The need for organisations to embrace building of digital capabilities is derived from the push for informed decision making, optimisation of resources use and allocation, automated processes, reduced costs, enhanced efficiency, increased revenue, avoidance of disruptions as well as improved customer experiences, and in general, to be able to improve operations to a sustainable level to maintain competitive edges.

The CEO at Microsoft, Satya Nadella, points out that digital transformation consists of 4 general goals from the people and operational side:

  • Engage your customers
  • Empower your employees
  • Optimise your operations
  • Transform your products

Successful digital transformation does not only help streamline operational processes and outcomes, but also helps catalysing more opportunities for sustainability innovations. Most importantly, it serves as an enabler to achieving different milestones towards corporate mission and vision.

While the emergence of COVID-19 has been an accelerator of digital transformation, leadership plays a critical role in coming up with digital strategies and governances that will be geared towards bringing a digital business transition from inception to implementation. In such, requirements on high agility and leadership are also urged to ensure that changes are implemented in a manner that coincides with business needs, because what truly matters is not just the deliverables of the digital products, but the impact they can bring to the organisation. This emphasises how important and meaningful the duties of decision-makers in mining and utilities leading companies are to the world as leaders of resources producers and distributors. Undoubtedly, the success of digital transformation is critical to bring us a big step forward in the roadmap of achieving sustainability.

As Nadella also said:

“The way we have to measure our success is how have we helped you building digital competency, and what success have you achieved because of that capability.”

At Texture, we help leaders in mining and utilities deliver technology outcomes. From analysis to project planning and management to change, our norm is to ensure the success of benefits realisation from our clients’ critical digital transformation projects. While our clients participate in the lead of energy and environmental sustainability, the true value is the way we effectively turn technology into the enabler to truly make an impact to the world, and that is something core to Texture’s mission.

Texture consultants pride ourselves to be able to facilitate in embracing digital transformation which contributes towards the future and sustainable world. Having said that, I’d say we do not tie our projects to the world’s trends, instead, we participate in the creation of world trends that ultimately makes the Earth a better place.

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