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What tech leaders can do about data's sustainability problem

By illuminem briefings 🌎

Jul 07 2023 · 1 min read

Illuminem Voices
Green Tech

illuminem summarizes for you the essential news of the day. Read the full piece here in Forbes or enjoy below

🗞️ Driving the news: In the modern corporate landscape, companies are increasingly exercising their Corporate Social Responsibility (CSR) for the betterment of people and the environment, with a significant rise in Environmental and Social Governance (ESG) investments
• According to McKinsey, products with ESG-related claims experienced an 8% higher Compound Annual Growth Rate (CAGR) than less sustainable products over the last five years

🔭 The context: As data becomes the lifeline of businesses, it’s crucial to address the environmental impact of data storage practices
• However, the parameters to define sustainable data storage are still ambiguous
The majority of data centers, mainly located in the U.S., operate on non-renewable energy sources and rely on energy-intensive cooling systems

🌎 Why does it matter for the planet: The burgeoning volume of data is exacerbating the environmental toll of current data storage practices
• As businesses store excessive data "just in case," they not only incur substantial costs but also contribute to a larger carbon footprint

⏭️ What’s next: Utilizing intelligent automation tools like AI and machine learning, and adopting principles of digital minimalism can help in better data management
• Moreover, adopting greener data storage can enhance adherence to ESG principles while reducing costs and improving operational efficiency

💬 One quote: "The punchline? Businesses continuing to store useless data are footing an incredibly lengthy and unnecessary bill." (Phil Tee, Forbes Councils Member)

📈 One stat: Experts estimate that a petabyte of data costs an organization up to $200,000 to store annually

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