While the paths to long-term sustainability are known – decarbonization and embracing renewable energy sources – what should be done in the short-term is extremely challenging.
Climate change continues to be front-page news, along with its profound implications for the future in terms of habitats, human life, and our collective future. Business models in the oil/gas and petrochemicals industries have been based on fossil fuels, and these businesses are under tremendous pressure to reduce greenhouse gas emissions. To reach their net-zero goals, organizations need to focus on embedding decarbonization-driven decision-making into their ways of working, while also preserving their balance sheets by generating additional revenue from new energy business models and offerings.
Wipro is uniquely positioned in the industry to support this paradigm shift. Our deep energy value chain expertise built over two decades is comprised of frameworks and tools that help companies in the traditional energy and petrochemicals sectors approach sustainability from a strategic, data-driven perspective. At the heart of this approach is the idea that starting with good data and reliable benchmarks about emissions and their costs is essential to making good decisions. Digitalization can play an important role in gathering data to create benchmarks, to generate insights, and to uncover opportunities that can enable energy companies to improve sustainability while delivering good performance to their stakeholders.
As service offerings and technologies evolve in the new energy space, organizations must have nimble teams and centralized platforms to manage, operate, and maintain their portfolio while allowing global teams access to the same quality and insights regardless of location. Digital advances can enable increased productivity, cost advantages, risk reductions, improved reliability, operational efficiency, and safety improvements. In the process, they can empower organizations to forge a new path in their transition to renewables and resilience.