ADIPEC 2023 - In-country value - it's more than a contractual obligation
Sustainability is about survival. We want our businesses and communities—our species and planet—to thrive without running out of essential resources. Sustainability drives such important outcomes for business and society that it has become a compelling organisational priority.
Wood is collaborating with Microsoft to accelerate sustainability for their clients. We want to create a future where every person, and every organisation, no matter where they are in the world, can achieve more. That’s why we’ve joined forces with Microsoft who have committed to be carbon negative by 2030 and remove the company’s historical carbon emissions by 2050.
Wood is helping clients navigate toward a sustainable energy future through optimized operations, low-carbon production systems and pioneering renewable projects.
“We are working with our clients on reducing carbon emissions on their projects and assets,” says Darren Martin, Group Chief Technology Officer at Wood. “Solutions range from modifying offshore installations to connect to floating wind farms, developing a master plan for carbon capture and storage (CCS) from industrial clusters, assessing the feasibility of hydrogen-powered ferries, and providing software to monitor asset emissions.”
“While Wood started as a Microsoft customer, it quickly became clear to Satya and our senior leadership team that partnering together would have the most impact for our customers, our partners, and our customers’ customers,” says Jacky Wright, Chief Digital Officer at Microsoft.
Exciting solutions to increase productivity for energy and heavy industry
Wood is actively collaborating with Microsoft to help clients position themselves well for the energy transition. “Together, with Wood’s energy expertise and Microsoft’s technology, we will continuously expand our portfolio of technology-enabled, Azure-based suite of Microsoft and partner tools to monitor, track and advise clients on their asset performance, empowering our clients around the world to be future ready,” says Darren Martin.
Every organisation has a decisive role and responsibility to play in achieving sustainability for their business and the communities they operate in. There is an urgent need to develop and implement a sustainability strategy with industrial decarbonisation and emissions monitoring as central elements. But no single company can do this on their own—who they partner with is key.
The pace of innovation and technological solutions have a major part to play in decarbonisation, from the technologies to generate and deliver new energy sources to the digital innovations that will transform how we use them, to optimise operational performance, target energy production and minimise waste. Together, Wood and Microsoft are at the forefront of that work.
The first co- created solution, ENVision, focuses directly on the Internet of Things (IoT) and sensor-driven real-time carbons/emissions monitoring by standardizing diverse types of data to provide a clear, auditable, and accurate view of an asset, organisation, or city.
Now is the time for companies to create sustainability strategies
Wright emphasises that, “Sustainability has become a major priority for large and small organisations in retail, manufacturing, healthcare, transportation, and more. Around 49 percent of the world’s GDP is now under net zero goals. Corporations want and need to show progress, not only because of investor pressure, but also social pressure.”
Right now, national emissions targets, carbon pricing, operational efficiency, corporate reputation, and investment trends are driving the development of sustainability strategies.
“Simply put, sustainability is a business approach to creating long-term value by considering how a given organisation operates in the ecological, social, and economic environment. Developing such strategies fosters company longevity,” says Darren Martin. “The quest for sustainability is already starting to transform the competitive landscape, which will force companies to change the way they think about products, technologies, processes, and business models. The key to progress, particularly in times of economic crisis, is innovation.”
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