Environmental sustainability is on everyone’s mind, including regulators, customers, and investors. The UN Sustainable Development Goal aims to significantly reduce emissions by 2030, which is now less than a decade away.
Most member states in the EU have, to some extent, local environmental policies and regulations in place. In the UK, the Green Financial Strategy aims at aligning various financial interests into environmentally friendly objectives. In France, the French Energy Transition Law from 2016 calls for strengthened mandatory carbon disclosure requirements for listed companies.
Read more: 5 Steps towards a greener future
Stay ahead of the curve
In the future, we may see a common EU regulation taking effect. It will impact how materials and products are designed, sourced, manufactured, and delivered. Much like the data processing regulation (GDPR), it may include mandatory implementation-based due diligence processes.
These processes would not only assess environmental impact, but actually perform due diligence on how to avoid unnecessary CO2 emissions through the lifecycle of manufactured goods. For now, however, it’s up to you, the manufacturer, to implement real sustainable change — and stay ahead of the curve.
Manufacturers who are already implementing sustainable processes have caught the attention of investors and consumers. Those who haven’t begun transforming their business model towards sustainability may struggle to survive in the long run.
Virtual twin technology
Luckily, digital technologies, like virtual twins, are making the transition to sustainable manufacturing attainable. Applying digital technologies in manufacturing, gives a digital copy of a product’s life cycle. This can be used to visualize and predict its environmental impact before production even begins.
This largely untapped market offers manufacturing companies the opportunity to make sustainable decisions throughout the manufacturing process. In addition to that, by utilizing sustainable suppliers and minimizing waste, it can also reduce production costs.
While the benefits of virtual twin technology in sustainable manufacturing are clear, it is still underutilized in many industries. Adoption of the technology still faces many barriers, the most significant one being a lack of knowledge of the technology.
By improving your understanding of virtual twin technology and its benefits, you can make sustainable manufacturing the norm for your company. With virtual twin technology, you can stay ahead of regulations and competition, while standing out to your client base.