ESG and asset life cycle management: what are companies actually doing?
In what ways are companies in various sectors working on ESG (Environmental, Social, Governance)? And how do they record data for their ESG reporting? We take a look at the annual reports of organizations in the aviation, oil and gas, and energy sectors. What is happening around sustainability? And how does an asset lifecycle management solution such as IBM Maximo Application Suite (IBM MAS) fit into the picture?
ESG and aviation
Environmental impact, energy consumption, and sustainable mobility: these are extensively addressed in the annual report of a major European airport. For example, the airport is working to reduce CO2 emissions through the use of renewable energy sources, such as solar energy. There are several solar energy installations on the airport grounds. The expansion of renewable energy capacity should help the airport become fully energy neutral. Smart energy management solutions serve the same purpose, monitoring and optimizing energy consumption. In construction projects, the airport applies far-reaching circular construction principles, such as the reuse of materials and the design of easily demountable buildings. ‘Material Passports’ describe which materials have been used and how they can be reused in the future. The use of electric vehicles is encouraged on the airport grounds. In addition, the airport is working with airlines to introduce sustainable fuels. These include biofuels and, in the future, possibly synthetic kerosene.
ESG and the oil and gas industry
The annual report of a large oil and gas company also devotes considerable attention to sustainability goals and the progress of ESG initiatives. For example, the company is involved in various projects for carbon capture and storage in the North Sea. This is a core component of their strategy to reduce their carbon footprint. Advanced monitoring technologies are used to detect and reduce methane emissions. The oil and gas company also supports its sustainability ambitions with specific measures for asset management. It makes use of ‘digital twins’ (virtual replications) of installations to improve operational efficiency and optimize maintenance. This leads to lower emissions and more sustainable management of the company’s assets.
ESG and the energy sector
For a company in the energy sector, the focus of efforts around sustainability and asset management is on smart grid solutions and the integration of renewable energy. The annual report describes, for example, investments in smart meters and the real-time monitoring of systems. These types of technologies make it possible to improve the efficiency of the electricity grid and better respond to the demand for renewable energy. The integration of renewable energy is achieved through the development of decentralized energy sources, such as solar panels and wind turbines. Together with local communities, the energy company is working on the implementation of these types of sustainable energy solutions. Finally, the company issues green bonds to finance sustainable infrastructure projects, such as networks suitable for the transport of green hydrogen.
IBM Maximo Application Suite and ESG
IBM Maximo Application Suite can support companies in various ways in their pursuit of sustainability. The platform enables your organization to record, analyze, and visualize important ESG data. Based on this, you can extend the lifespan of your assets and perform safer and more sustainable maintenance. On the one hand, you have asset management technologies at your disposal. This makes it possible to monitor assets in real time for, for example, performance, emissions, consumption or damage, but also to predict failures and monitor the health of your assets. On the other hand, IBM MAS includes technologies for maintenance management, such as visual inspection with AI, automatic maintenance recommendations and mobile support ‘in the field’. Digital twins help you make the right management and maintenance decisions throughout the life cycle of your assets. In addition, you can report on all your asset management and maintenance data to make the progress and results of your ESG activities visible.
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