Page 17 - Frontier Technologies to Protect the Environment and Tackle Climate Change

Frontier Technologies to Protect the Environment and Tackle Climate Change

United Nations Global Compact (UNGC)

Technology is responsible for some of the greatest strides ever made in the areas of medicine, research,
agriculture and — of course — communications. Technology has saved millions of lives and given a
voice to the voiceless. It has helped topple dictators, improved food security, given people access
to clean drinking water, and made cities around the world safer and more livable. Technology is also
our greatest hope of combating, and possibly solving, humanity’s gravest threat — climate change.
At the same time, alongside globalization, technology is often blamed as a factor contributing to rising
levels of inequality. Advancements in robotics, artificial intelligence, and other ‘frontier technologies’
are perceived as mortal enemies of traditional labour markets, threatening to displace workers and
make entire industries obsolete. Likewise, there is mounting concern over the lingering ‘digital divide’,
which has far-reaching implications for people in developed and developing countries alike.

The Sustainable Development Goals (SDGs) provide a roadmap to overcome these concerns and
broaden access to the benefits technological advancements bring. They offer a framework for ensuring
a just transition to a digital age as new technologies transform our societies. For companies and
investors, there is a huge potential in localizing and materializing the opportunities presented by
the SDGs — for example, through their foreign direct investments, companies can make significant
capital allocations in frontier technologies that promote and translate local innovations into globally
accessible climate solutions. Businesses can also focus more on leveraging technological advancements
to develop local talent and create jobs, especially for young people who are challenged to find
professional opportunities. In the food and agriculture, cities, energy, and health sectors alone, the
SDGs could unlock an estimated $12 trillion in market opportunities by 2030 and create up to 380
million jobs. But these opportunities must go hand-in-hand with changing internal business practices.
A growing number of UN Global Compact participants are responding by setting science-based targets
aligned with limiting global temperature rise to 1.5°C above pre-industrial levels.

Climate change is the biggest transformation challenge the world has ever faced. Frontier technologies
may provide the breakthrough innovations we need to stabilize global temperatures and avert disaster,
but all sectors of the economy must do their part. All industries must transform to ensure a sustainable
future. There is no other choice.

Lise Kingo
CEO & Executive Director, United Nations Global Compact

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