77% asset-intensive firms see tech as key to sustainability

77% asset-intensive firms see tech as key to sustainability

More than three-quarters (77%) of asset-intensive companies across the Middle East believe that technology will be required for their organisation to meet its sustainability goals, making it the top requirement for these businesses overall. Other needs identified include ‘tax on carbon (34%)’, and ‘change in policy/laws (also 34%).’

These were among the key findings of a new independent study commissioned by AspenTech, which polled the opinions of decision-makers working for asset-intensive organisations across the UAE, Qatar and Saudi Arabia.

The research indicates asset-intensive businesses across the Middle East expect government, customers and shareholders to help spur their drive to sustainability. Yet, while decision-makers working for these organisations view these financial and regulatory enticements, and stakeholder pressures as important, technology is the biggest help to businesses in meeting their sustainability objectives.

Need for resources

The global need for resources, together with the requirement for a significantly lower carbon footprint is driving industry leaders to develop innovative, new solutions. The research findings suggest that the latest advanced technology solutions will play a major role in strategies to reduce emissions from existing assets and in developing new approaches to meet circularity and net zero goals.

In identifying a main barrier to their organisation meeting its sustainability targets over