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November 16, 2021 56 mins
The Buzz 1: The United Nations website (sdgs.un.org) focuses on sustainable manufacturing as a form of manufacturing development that meets ‘the needs of the present without compromising the ability of future generations to meet their own needs.’ The U.S. Department of Commerce, on the other hand, defines sustainable manufacturing as ‘the creation of manufactured products that use processes that minimize negative environmental impacts, conserve energy and natural resources, are safe for employees, communities, and consumers and are economically sound.’ (marlinwire.com/blog/what-is-sustainable-manufacturing-2) The Buzz 2: Companies are realizing value from integrating sustainability into their operations and products. Between 2013 and 2020, companies with consistently high ratings for environmental, social and governance (ESG) performance have outperformed their peers, achieving operating margins 3.7x higher than lower ESG performers and generating 2.6x higher annual total returns to shareholders. (Accenture Research Report, Delivering on the promise of sustainability, April 2021) Sustainability is becoming an important consideration for both consumers and employees. And this has significant implications for industrial manufacturing companies in 2022 and beyond, and how they move towards more sustainable products, processes and even outcomes. Will the move towards servitization enable the Circular Economy and its challenges? Are further digitalization and Industry 4.0 (and 5.0) needed? What are the biggest roadblocks to becoming sustainable in the post-Covid world? We’ll ask experts Thomas Rinn at Accenture and Sayan Bose and Lloyd O’Donnell at SAP to share their insights and make bold predictions for the upcoming year and beyond on Manufacturing and Industry 4.0: Looking Towards A Sustainable Future.
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