Verifone Launches New Brand

Verifone unveils new brand and enterprise website to exemplify its class-leading payments platform offering

Verifone new logo

New Verifone brand identity

CORAL SPRINGS, Fla., June 30, 2023 (GLOBE NEWSWIRE) — Today, Verifone rebrands to highlight its innovative payment solutions by introducing a new logo, brand identity and global website to align with an updated vision. Verifone is now the “Payments Architect and Commerce Expert” partner for all businesses everywhere. Verifone’s robust product and services portfolio delivers on that promise as it spans digital payment solutions, secure payment devices, cloud-hosted Payments as a Service, merchant acquiring, point of sale technology, advanced business insights through data science, managed services practices, and more.

After rebuilding its entire offering and company culture under new leadership, the refreshed brand identity matches the innovation and passion of a new Verifone. Consumer recognition and trust in the Verifone name needed to be preserved while simultaneously highlighting Verifone’s heightened digital focus, future-first approach and leading position in the marketplace. The new iconography conveys the connected, modular and evolving nature of payments in modern life, and it shows the architectural role Verifone plays in payments and commerce. All of this comes together on Verifone’s new global website where consumers, merchants and other stakeholders are introduced to a new, more user-friendly Verifone experience. The new brand is extensible across business units and around the world.

Verifone T650m Mobile Payment Device

Verifone T650m Mobile Payment Device

With half a trillion dollars in transactions traversing its cloud via payment devices or Verifone-powered websites and apps, Verifone truly enables global commerce. Verifone stands out in the payments space where most businesses still piece together fragmented offerings from multiple providers to address complex customer needs. Verifone is the single provider with a comprehensive, flexible toolset that streamlines and reduces costs for any enterprise to accept payments.

“The world of commerce evolves constantly, and it is this dynamic environment that we’ve simplified and continue to revolutionize. Verifone started in the Fintech space over four decades ago, rapidly evolving our service offerings to meet the needs of all large and small businesses,” said Mike Pulli, Verifone CEO. “We are the critical commerce partner for businesses worldwide, offering solutions with a futureproof architecture. Our new brand matches our digital-first thinking, employee-focused mindset, and accelerated innovation. Our customers, and their customers, rely on Verifone every day.”

Verifone has focused intensely on new, innovative payment capabilities and features in recent years, significantly expanding the solution stack and enabling new markets. The company’s commerce expertise means its solutions can easily be adapted across nearly every vertical. From complex, global, omni-commerce retailers to a local vendor at a farmers’ market, Verifone futureproofs payment ecosystems and tech stacks.

Verifone M440 Multilane Payment Device

Verifone M440 Multilane Payment Device

To experience Verifone’s new identity, watch the introduction video https://vimeo.com/verifone/newbrandlaunch and visit the new corporate global website at https://www.verifone.com/en/global. New country-specific websites will go live in the coming weeks and months.

About Verifone

Verifone is the payments architect shaping ecosystems for online and in-person commerce experiences, including everything businesses need – from secure payment devices to eCommerce tools, acquiring services, advanced business insights, and much more. As a global FinTech leader, Verifone powers omni-commerce growth for companies in over 165 countries and is trusted by the world’s best-known brands, small businesses, and major financial institutions. The Verifone platform is built on a four-decade history of innovation and uncompromised security, annually managing more than 12B transactions worth over $500B on physical and digital channels.

Verifone Media Contact:
Email: Press@Verifone.com

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St Kitts and Nevis announces extension to Citizenship by Investment Programme Sustainable Growth Fund Limited Time Offer due to unprecedented demand

Basseterre, June 29, 2023 (GLOBE NEWSWIRE) — International investors have been clamouring to take advantage of one of the best deals in the investment migration industry this year – St Kitts and Nevis’ Sustainable Growth Fund (SGF) Limited Time Offer (LTO) which allows investors to gain approval for alternative citizenship in the country in as little as 60 days for a reduced fee.

In December 2022, the St Kitts and Nevis Head of the Citizenship by Investment Unit (CIU), Michael Martin, announced the enactment of the updated St Kitts and Nevis Citizenship by Investment Regulations 2023, which included the introduction of the LTO for the SGF investment option effective 1 January 2023 – 30 June 2023.

On 29 June 2023, Michael Martin made the following comment regarding the LTO:

“We have received an overwhelming response and demand for our Sustainable Growth Fund investment option through the Limited Time Offer and felt that we had to extend the offering for another seven months until 31 January 2024. International investors continue to see the value of the world’s first and finest Citizenship by Investment Programme and this proves it”.

The SGF remains the quickest and easiest route to alternative citizenship in St Kitts and Nevis and now until 31 January 2024, a main applicant can acquire alternative citizenship by contributing only US$125,000 to the SGF and receiving approval in principle within 60 days of acknowledgement by the CIU of submission of their application.

Under the LTO, the minimum SGF contributions are as follows:

  • Single applicant – US$ 125,000
  • Main applicant and a spouse – US$150,000
  • Main applicant and up to three dependants – US$170,000
  • Each additional dependant under 18 – US$10,000
  • Each additional dependant over 18 – US$25,000

Revenue from the SGF has facilitated economic development and social upliftment in the country. The SGF is used to provide financial support to educational institutions, and medical facilities, as well as support infrastructural development, increase tourism, preserve local culture and heritage and support sustainable growth initiatives in the twin-island nation.

Discerning investors are seeing the benefits of being part of St Kitts and Nevis’ success story. Following upgrades to the CBI Regulations, the country now offers one of the most secure and best-regulated investment migration offerings in the world.

This means that international investors looking to hedge their bets in a stable and growing economy should look no further than St Kitts and Nevis.

This extension is a fantastic opportunity for investors to obtain citizenship through the LTO. This is a final extension and from 1 February 2024, the minimum SGF contribution will increase to the amounts prior to the LTO period.

The country is making sure that it has only the best to offer international entrepreneurs and families who have realised that global powerhouses are no longer illustrious investment options due to security risks. Investors want to ensure that they can safeguard their families and wealth in a global economy that has been offering nothing but uncertainty since the onset of the COVID-19 pandemic in 2020.

Smaller governments such as that of St Kitts and Nevis have found ways, through CBI, to protect themselves from global shocks, offer favourable business policies aimed at growing corporations in international markets and, by using international funds channelled to the SGF, can diversify and grow their economy to meet global needs.

St Kitts and Nevis continues to create a name for itself as a financial nexus in the Caribbean with an attractive CBI programme underpinned by a sound legal framework and robust multi-layered due diligence.

For nearly 40 years, St Kitts and Nevis has been the pioneer of the global investor immigration industry and those who recognise this are taking advantage of the LTO.

St Kitts and Nevis continues to create a name for itself as a financial nexus in the Caribbean with an attractive CBI programme underpinned by a sound legal framework and robust multi-layered due diligence.

For nearly 40 years, St Kitts and Nevis has been the pioneer of the global investor immigration industry and those who recognise this are taking advantage of the LTO.

Chantal Mabanga
Government of St. Kitts and Nevis
+44 (0) 207 318 4343
chantal.mabanga@csglobalpartners.com

GlobeNewswire Distribution ID 8867177

The rise of ‘unretirement’: Here’s what that means for business, government and pensioners

Will your pension keep you financially solvent until your 150th birthday?

Research suggests humans could live up to 150 years, as advances in healthcare, improved living conditions, public health initiatives and various social and economic factors continue to lift the average life expectancy.

While longer life expectancy sounds like a purely positive development, a number of economic, social and personal challenges can arise as we all live longer – not least the amount of money needed to retire, as well as the broader economic impact of an ageing population. It’s a theme covered in-depth in the World Economic Forum’s new report, Living Longer, Better: Understanding Longevity Literacy, which provides “a roadmap of the key factors everyone should consider as the world enters a new demographic era”.

One new trend in the workforce, according to data from HR recruitment firm Randstad’s Workmonitor report 2023, is the rise of ‘unretirement’, whereby those already eligible to claim pensions are returning to work for a variety of reasons.

Here’s what is driving the rise of unretirement, and the impact for business, government and pensioners alike.

DISCOVER

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The rise of ‘unretirement’

The demographic cohort known as the baby-boomer generation, currently aged between 57 and 75 years, is approaching retirement or has already retired. At the same time, fertility rates have been dropping since the 1970s, contributing to the number of individuals exiting the working-age bracket (15-64 years) exceeding those entering it.

Added to that, people have been retiring earlier than usual since 2020, mainly the result of COVID-19-related health and safety concerns, ’The Great Enlightenment’ and government aid, according to Randstad.

But this trend is now swiftly reversing, and we are entering an era of ‘unretirement’.

The ongoing energy crisis, climate crisis and the war in Ukraine have all contributed to economic uncertainty, high inflation and falling government aid, which has led to a shift in people’s perceptions of when they can afford to retire permanently. Last year, 61% thought they’d retire before 65, now only half think this, according to the survey.

Statistic on respondents decision on retirement.

Fewer people now believe they will retire before 65 as a result of high inflation and a faltering economy. Image: Randstad

Not everyone wants to, but for those over-65s who like the idea of working through retirement, it’s more than just a paycheck. For some, they see working as a way to keep connected and busy.

The benefits to business are clear too, as the wave of ‘unretirees’ could help mitigate the global skills shortage that the World Economic Forum’s Future of Jobs Report 2023 shows is the key challenge for evolving businesses.

Figure showing the share of organizations surveyed expecting these factors will limit the transformation of their business.

Companies are looking to the over-50s to plug skills gaps, currently the biggest barrier to business transformatio Image: World Economic Forum

Solving the skills shortage with unretirement

“The impact of ageing populations around the world will reach a critical stage during this decade, as millions more leave the labour market creating a vacuum in economies around the world,” cautions the report, which recommends working with the workforce to help them reach their retirement goals early, and supporting life-long learning.

Infographic illustrating three tips for the workforce’s retirement plans.

Working with the older workforce on retirement goals can help transition gradually, retaining valuable experience and skills in the workplace. Image: Randstad

But already, companies are increasingly looking to the over-50s to plug senior roles that have been historically hard to fill, and are offering the right flexibility to help make returning to work easier.

Plugging the skills gap with experienced and knowledgeable staff who want to work and are over retirement age suits both businesses and ‘unretirees’ alike, and could help ease the growing challenge of increasingly dependent populations.

Ensuring job quality across all age groups – which in turn will support older workers – is the objective of the Good Work Framework, developed by the Good Work Alliance in collaboration with the World Economic Forum and Mercer.

The Framework sets out five workplace goals:

1. Promote fair pay and social justice

2. Provide flexibility and protection

3. Deliver on health and well-being

4. Drive diversity, equity and inclusion

5. Foster employability and learning culture.

Governments can support tackling ageism in the workplace

For some countries, the issue of an ageing population is more advanced than in others. Japan has the highest median age in the world, at nearly 49 years old, whereas the median for the US is 37 and India is just 27. But more and more countries are seeing the number of people in the working-age bracket fall, which is putting pressure on social systems and the economy.

Graph showing the median age from 1980 to 2100.

As median ages rise, countries anticipate increased economic strains, but supporting ‘unretirement’ can help mitigate them. Image: Our World in Data

A rapidly ageing population not only means employment challenges, it can also signify rising healthcare costs, pension benefits and other publicly funded initiatives aimed at the retired.

Andrew Scott, Professor of Economics at the London Business School, says it is “crucially important” to find ways to help older employees stay productive, and supporting them is critical. Governments can help by enforcing employment rights and introducing supportive diversity legislation that protects employees from ageism in the workplace, he concludes.

Infographic showing the respondent’s opinions on retirement.

Most people would like to retire earlier than they think they will be able to, but 2% hope to never retire. Image: Randstad

Most people want to retire by the time they are 51-60, Randstad’s report shows, although most expect it will happen at 65-69. Given the ever-changing economic backdrop, picking the right moment to retire can be daunting. But government support and flexible business approaches can help support the rise of ‘unretirement’ and work to help prolong careers.

Source: World Economic forum

AMNC23: This is what needs to happen for AI to improve healthcare

“In order for efficacious therapeutics to reach patients globally, we have to find ways to make them more efficiently.”

So said Ena Cratsenburg, Chief Business Officer of Ginkgo Bioworks, at the World Economic Forum’s Annual Meeting of the New Champions, in a session on Healthcare Systems of Tomorrow.

The session also featured Christine Zhou, Senior Vice-President; President, Region China, Novo Nordisk, Lu Yimin, President, China General Technology (Group) Holding Co, Ltd and Ren Minghui, Professor, School of Public Health, Peking University.

It came as the Forum published a report on Scaling Smart Solutions with AI in Health: Unlocking Impact on High-Potential Use Cases.

The use cases identified for private-public acceleration include diagnosis, infectious disease intelligence and clinical trial optimization. Other use cases for further exploration include identifying new drugs and triaging patients, with actions recommended to scale AI in healthcare.

Recommended actions to further responsibly scale AI in healthcare.

How to scale AI in healthcare. Image: Scaling Smart Solutions with AI in Health

Countries across the world are working on AI regulation to ensure we avoid the pitfalls of the technology, such as bias, but also working out how to implement it in useful ways.

The UK, for example, has announced a $26 million AI Diagnostic Fund that will include the use of AI tools to analyze chest X-rays to diagnose lung cancer sooner, the leading cause of cancer death in the UK.

AI is an “important enabling technology” to help us scale up healthcare in future, said Ena Cratsenburg in the Forum’s Healthcare Systems of Tomorrow session.

Have you read?

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How responsible, equitable AI can help us improve global health outcomes

Here are some of the key quotes.

‘We need quality data’

AI is only as good as the data you have to train the models, added Ena Cratsenberg and right now we are “scratching the surface” of what biology can do.

“One of the things that is going to help engineer biology in a way that can bring forward useful products is finding a way to do a lot of experiments in a very efficient way.

“Automation, robotics can help us do millions of experiments. By leveraging the latest advancements in those technologies, we can do a lot of experiments and generate a lot of data. For any good AI model, you need to have good-quality data to train the model.

“Imitating the data in a way that allows you to gain the insights for you to design something rationally, and understand the result of changes you make, is incredibly important. By having a standard way to curate the data and analyze the data in a useful way, that is when AI is connected with empirical experiments … will help develop insights that are useful.”

‘Governments can speed up innovation’

Ren Minghui said governments have to take a balanced approach to make sure risks can be mitigated and managed well before such innovation is recommended for wider use.

“They can encourage sharing information and technological expertise across-the-board with different entities because it is very important, and can reduce unnecessary overlapping, speeding up new ideas and innovation in health and medicine development.”

He said governments can also help support the financing of innovation through taxation policy, to incentivize companies to invest in research and development.

‘We need to collaborate to drive change’

Novo Nordisk’s purpose is driving change to defeat chronic diseases like diabetes and obesity, said Christine Zhou.

“We increased investment in research and development and we are applying new technologies like artificial intelligence to speed up the innovation processes and fostering a partnership to make sure we tap into external innovation capabilities.

“But innovation from pharma alone is not enough to address ever-increasing healthcare challenges. We see that collaboration and partnership among stakeholders such as societies, academia, and industry peers, as instrumental for us to work together to create an ecosystem to drive change, and to increase access to the patients in need.”

‘AI is just one of the tools in the toolbox’

“There are some really exciting AI models out there,” said Ena Cratsenberg, “and while I think it is very possible for these models to design a protein that may improve service function and have the characteristics that you want to be a good drug, the fact of understanding why that protein works still doesn’t exist.

“So these AI models are one of many different tools we need in our toolbox in order for us to really understand how and why a drug works and we can use that insight and understanding to develop other drugs.

“I don’t think AI will replace fundamental research, it is a part of the solution that we have. It is a tool and the more we understand the scientific insights, the better we can train these models and it is an ongoing leap from there.”

Christine Zhou said the AI technology is bringing a lot of impact to healthcare development and its utilization has been increasing across different sectors in the value chain, including drug discovery, clinical trials, manufacturing, quality control, and even manufacturing.

But it’s the “convergence between technology, drug development and biology that will lead to better drugs being developed faster and more accurately”.

‘We need guardrails for AI in healthcare’

Christine Zhou also warned that if unregulated, AI can have negative impacts.

“In my view, the difference between AI and the human mind is they all know how to do things but only the human mind knows why. Therefore, it is difficult for AI to replace the human mind in certain fields. If AI is not regulated, it could potentially cross red lines and have a negative impact. If you look at the hypothetical examples in healthcare fields, unverified medical information used by generative AI could mislead the public.

“We need to make sure we create a guardrail for AI development and education.”

The Chinese regulators have required filing of AI algorithms and some countries also have clear requirements for a disclaimer of the contents generated by AI, she added. Pharma companies must make sure self-regulation behaviour is embedded with ethical guardrails in AI utilization.

‘The AI moonshot can make healthcare fairer’

“AI allows us to have more ability to see what is happening in a more democratized way,” said Ena Cratsenberg.

“Having the ability to access data and see how it impacts different aspects of the delivery of the medicines is going to help address and flag problems that need to be solved, but there is a lot that we need to do.”

Ren Minghui said AI was used for diagnosis in the COVID-19 response: “It was cost-effective and the technology can be used widely for lung cancer and lung diseases.”

But besides innovation, it can also help with service delivery for ageing populations.

“We must move our health systems from hospital to home-based services. AI can help with these changes and trends. It is good, but we need regulation to ensure we can benefit and mitigate the risks to human beings.”

Lu Yimin added: “AI is making the health system more equal, fairer. We are using it to help local hospitals improve diagnostic capacity. With a digital twin, we are able to offer innovation companies, and pharma companies more insights to better serve our people.”

Source: World Economic forum

Digitalizing SMEs and industrial value chains to unlock growth for the new decade

In the past decade, the diffusion of digital technologies was a main driver of global economic development. The digital economy accounted for 55.7% and 29.8% of GDP in the developed and the developing world respectively. In China, the contribution of the digital economy to national GDP rose from 21.6% to 41.5% between 2012 and 2022.

However, as recent OECD research suggests, global digital productivity gains have not kept up with overall economic growth, partly due to the gaps in digitalization between more resourceful large enterprises and the rest of the industrial ecosystem.

Where shall we turn to for new engines of growth in the next decade? I see two main areas of opportunity. First, a more inclusive digital ecosystem building on deep digital transformation of small and medium-sized enterprises (SMEs). Second, the creation of technology-driven institutions for cross-industry collaboration that brings about the digitalization of entire value chains across borders.

Investments in these two areas will usher in a new stage in the digital transformation of industries and economies, with longer-term, greater implications for truly sustainable and broad-based global prosperity.

Achieving inclusion: A new paradigm for digitalizing SMEs

The benefits of digital transformation shouldn’t be the privilege of only large businesses. Building an inclusive digital system means SMEs should have full access to digital productivity tools to enjoy the benefits of innovation.

The majority of the world’s enterprises are SMEs. Entrepreneurs in this space can tell you that compared to larger businesses, they hesitate to invest in deep digital upgrades because of high costs, technological barriers and security challenges. A survey in 2021 found that while 30% of large enterprises in China are at an advanced stage of digital transformation, only 9% of SMEs have reached such a stage.

In this great challenge also lies a great opportunity to advance towards full digitalization. One promising paradigm is the “Platform + Independent Software Vendor (ISV)” model. In this collaborative model, an open platform like Alipay provides a suite of foundational technology capabilities to help ISVs provide SMEs with effective and low-cost digital services through open APIs. These capabilities range from payment, security, to marketing and operations.

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Drawing on Alipay’s technology repertoire, ISVs may organize and combine these capability modules to suit the unique needs of SMEs. An ISV in this ecosystem can build mini-programmes for SME clients in five minutes, with costs as low as a few hundred RMB per year. Further, individual solutions can be re-integrated to develop sector-specific SaaS products for broader application.

Why do we need such a collaborative model? For one, the platform alone cannot provide the full range of sector-specific SaaS solutions for hundreds of sectors. In addition, ISVs will face formidable challenges in achieving sustainable commercial viability if they have to work from the bottom up to build an entire spectrum of technology tools. Only when large platforms and nimble ISVs work together will we be able to help hundreds of millions of SMEs achieve deeper levels of digitalization.

Technological infrastructure for global digitalized industrial collaboration

The impact of single-point digitalization is always limited. With full digitalization of businesses large and small, we may aim higher and look to achieve extensive digitalized industrial collaboration throughout the value chain. Centralized avenues of validation are not sufficient for complex systems of cross-industrial collaboration. The key to solving that challenge is to build a comprehensive institutional foundation of trust through new technologies.

Using the latest technologies in the artificial intelligence of things (AIoT), blockchain and privacy-preserving computing, it is now possible to create a network of trusted data sources and transaction flows, not only across sectors but across national borders. In this trusted, secure and distributed industrial collaboration network, the dynamic configuration of rights will be verified and protected at every stage of the transaction, and new economic value and business opportunities will arise.

Let’s take the example of the equipment leasing industry, where a common challenge is to ascertain complex structures of ownership and rights, often spanning many countries. One of the largest industry players worked with AntChain to develop a Trusted Uplink T-Box. The device utilizes blockchain and AIoT technologies to achieve end-to-end trustworthiness of data. This means rights of use and rights of ownership are effectively separated, recognized, and protected, as data runs on the blockchain across the distributed network.

Only with such institutional assurances of trust can we guarantee frictionless connectivity throughout an industry value chain that involves multiple manufacturers, asset recyclers and asset owners. Such new systems of digital protocols are evolving rapidly to become a core infrastructure that will support long-term growth across industrial sectors and nations, driving a resurgence in global cooperation.

The 2020s open up great opportunities for us to reach new heights of global collaboration and shared prosperity. By building a truly inclusive digital ecosystem and unleashing the hidden value along industrial chains in fully digitalized collaboration, together we will be able to unleash new productivities across borders. This will help businesses and nations lay the foundation for sustainable, high-quality growth for the coming decade, and many more decades to come.

Source: World Economic forum

Twin transition – how food and drinks companies can decarbonize with data

Sustainability is not only good for the planet, it’s good for business. In the past five years, online searches for sustainable goods have increased by 71%. This increased interest also holds for the kinds of organizations people want to work for, as demonstrated in the Twin Transition Playbook – research conducted by PA Consulting has found that sustainability is vital for employee value propositions during a battle for talent.

By merging digital and sustainability strategies within a “twin transition,” food and beverages companies can future-proof their business and the planet – one sip at a time.

You can’t change what you can’t measure

To get to where you want to be, you need to understand where you are. The first phase of any twin transition journey is identifying high-impact areas – “hotspots” – and finding ways to cool the heat. Data can help connect the dots, guiding prioritization while supporting compliance.

Suppliers significantly impact the carbon footprint in the food and beverages industry through indirect “scope three” emissions. Collecting data across the entire value chain is a significant and complex task for procurement departments. But this data is vital, ensuring accurate carbon calculations, reporting and targeted reduction efforts.

Data and IT go hand-in-hand; with the right data, you can kickstart the right strategy. Two approaches are central to the twin transition – “greening of IT” and “greening by IT.”

Greening of IT focuses on reducing the carbon footprint of data centres, infrastructures and devices; it is an obvious priority for all IT departments in and beyond the food and beverages industry. Greening by IT uses technology and analytics to drive wider business improvements and can have a much bigger impact. It requires new, experimental and opportunistic thinking.

Making a splash in sustainability

Dutch brewer HEINEKEN is using data to voluntarily disclose 30 metrics around environmental, social and corporate governance (ESG) ahead of the new EU taxonomy, which will instruct businesses to disclose over 100 mandatory disclosures. This extended effort will heavily depend on data definitions, data collection and data audits.

HEINEKEN has seen an 18% reduction in scope one and two emissions versus its 2018 baseline, with 73% of barley and hops sustainably sourced. The company is powered by 100% green electricity in the Netherlands, using windmills and solar panels and has two fully renewable energy breweries in Austria. And, in Miami, a craft brewery uses spent grain to make fully biodegradable, compostable carriers for cans.

Dry spent yeast can also be used as biomass and there are opportunities to decarbonize value chains using hydrogen, which can be produced from almost all energy resources.

Despite these advancements, there is still much work to be done. But the opportunities are many. Until now, data has been mainly used for reporting – to know what emissions are produced and where to minimize or remove them entirely.

Data and analytics can play a much bigger role in supporting decarbonization. Tools like machine learning and AI can aid procurement and reduce waste by assessing the colour of crops to predict yield and quality. Data analytics can provide insight into electricity consumption and thermal use in various production processes.

Can excess heat be captured and used in another production process? Can by-products be upcycled into packaging, supporting circularity? With the right data, these previously impossible questions can now be answered.

Real change does not come from reporting. Real change comes from taking action.

— Ronald den Elzen, Chief Digital & Technology Officer, HEINEKEN NV

Partnerships: a key ingredient

Data is just one part of the story. In the food and beverages industry especially, partnerships are another key ingredient for sustainability success.

Throughout the twin transition, key stakeholders should be brought in and consulted to understand impacts, find synergies and influence areas beyond the organizations’ direct control. Bringing together internal departments and major partners – such as manufacturing companies, transportation companies, tech companies and start-ups – is a fundamental part of solving shared problems. This collaboration leads to innovations that better serve the needs of consumers and help lower carbon footprints.

Different industries can come together for the greater benefit – take collection systems for returnable glass bottles, which bring valuable materials back into circulation while standardizing how emissions data is collected, exchanged and reported across the ecosystem.

Hard data, belief and resilience

Real change does not come from reporting. Real change comes from taking action. Making these changes requires investment and business change. Collecting billions of data points from the Internet of Things will help minimize the use of utilities.

There are still many unknowns. In the next decade, innovations will come down the line and not all experiments with digitization will be effective or scalable. Implementing a successful twin transition relies on hard data and belief and resilience. It takes a leap of faith and trial and error.

So, bring your key internal stakeholders on board, forge external partnerships and be prepared to share information. But most importantly of all, be curious. Ask the right questions, informed by the right data and you’ll get the right answers.

Source: World Economic forum