With continued uncertainty surrounding energy costs, wage inflation and ongoing uncertainty around shipping, General Manager at AIS Technology, Darryl Schembri, notes the importance of sustainability in the year to come.
Sustainability is one of the major business trends identified for 2023, and, on this note, Mr Schembri affirms that companies who will not find a way of being sustainable will struggle as we move into the new year, and the years to follow.
Speaking to MaltaCEOs.mt, Mr Schembri stated that “continued uncertainty in energy prices coupled with rising labour and shipping costs means that businesses must do all they can to ensure that their operations are running as efficiently as possible.”
Asked about what companies should take into consideration when trying to be more sustainable, Mr Schembri suggested “integrated technology solutions which automate and simplify day-to-day business operations.” He attests that such solutions “can reduce operating costs and eliminate waste, leading to a more sustainable business.”
Businesses in general must do their utmost to be more sustainable, which can involve a hefty initial investment, however in the long run, it would help them keep costs down.
Having been in the business of tailor-made engineered solutions for over 10 years, Mr Schembri frequently sees how companies that do invest in more sustainable practices, are now coping better with the increased costs and challenges that they are facing.
“Companies can deploy technology solutions such as energy management systems and IoT to increase energy efficiency and reduce their carbon footprint.”
He also stated that collecting as much data as possible will help to properly assess operations.
“First of all, companies need to collect energy and water data in real-time to understand their consumption use,” he said, adding that once this is done, companies should then “deploy intelligent systems which control aspects such as heating, ventilation, air conditioning and lighting based on demand.”
This “will lead to significant energy savings,” the General Manager concluded.
The group registered €48.7 million in pre-tax profit in a year that was saw it settle the Deiulemar case once ...
The EPG Financial Services Ltd HR Director draws upon different examples to highlight the value of perseverance even during difficult ...
The shipping group also named Austin Demajo as Non-Executive Director.
David Power commented following the publication of the bank’s financial statements for 2022, where it recorded €12.2 million in pre-tax ...