The Banking Executive Magazine - September 2023 Issue

The Transition to Green Economy 10) Green architecture technologies: Due to the sheer scale of the built environment, difficulties arise around the sustainability of urban living. As buildings are getting taller and cities more compact, innovation is taking place to ensure that new build- ings meet climate requirements, and are capable of generating energy, sequestering carbon, and fitting aesthetically within local landscapes. Green architecture technologies help in planting roofs and walls, to reduce car- bon footprint. DIGITAL TECHNOLOGIES FOR THE GREEN ECOONOMY When it comes to the environment, digital technology can be considered both a problem and a solution. Man- ufacturers of digital technology prod- ucts increase air and soil pollution when they mine the raw materials they need to make electronic com- ponents and there is a carbon cost of running these devices. Digital de- vices need to be powered up. They also rely on the transmission of data. All of this consumes energy usually supplied by fossil fuels. However, many digital services have replaced other activities that con- sume even more resources. Consider, for example, the negligible environ- mental impact of a video call with a customer against a plane ride to meet the client in person. The tech industry is working towards reducing its consumption over time. Meanwhile the environmental con- cerns must be balanced against the many wider benefits of digital tech- nology. The estimates of the energy consumption of tech devices, the in- ternet and the systems that support them vary, but a report by Digital Power Group, suggests that Informa- the BANKING EXECUTIVE 26 ISSUE 177 SEPTEMBER 2023