Green Technology

The current pandemic will probably result in financial hardship for years to come and many companies will struggle to survive. Green technology is playing a pivotal role as investors and consumers alike clamour for sustainability; companies are responding, by reducing waste, pollution and carbon emissions. Those companies with better green credentials are likely to come out of the pandemic least scathed as investors are aware that climate risk is financial risk. In the circular economy, businesses aim to eliminate carbon emissions and waste by re-using products in a cycle, rather than producing them with disposal as the end point. From small, localised companies to international giants, huge strides are being made in becoming more sustainable, for example: Galway-based Paltech, a polymer engineering company transforming waste plastics into high quality products; Coca-Cola reducing its use of plastic each year, aiming for 100% recycling of its products and a World Without Waste by 2030. Research is ongoing into developing new sources of energy; wind and solar provide some, but not in sufficient amounts. Hydrogen is expensive but as the industry scales up, so costs will come down, especially important for green rather than grey Hydrogen – this will be needed for heavy transport, shipping, industrial processes and heating.