# Supporting the net zero agenda as technology leaders  Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-11-05 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: How Technology Leaders Can Support Sustainability in Finance Meta Description: Discover actionable steps technology leaders can take to reduce carbon footprint and promote sustainability in the financial sector. Learn more from Paul URL: https://financedigest.com/supporting-the-net-zero-agenda-as-technology-leadershtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/technology-in-the-hand-of-businessmen-sbi-300058669-6-1736837478460-compressed.jpg) By **Paul Frost,** Chief Architect, Wholesale Banking Technology, HSBC As COP26 gets into full swing, I’ve started reflecting on what we as technology leaders can do to support the sustainability and the net-zero agenda. Since the turn of the 21st century we as a society have become more and more dependent on technology both in our personal lives and at work, and the push to digitise continues at pace, especially in the financial sector. Let’s start by saying from a [carbon footprint](https://www.financedigest.com/coca-cola-digital-ad-campaigns-use-seenthis-streaming-technology-to-avoid-excessive-carbon-footprint.html "Coca-Cola Digital Ad Campaigns Use SeenThis Streaming Technology to Avoid Excessive Carbon Footprint") perspective this is a good thing, for almost all processes in a digitised journey will always be more carbon-efficient than the equivalent manual process. Using paper and visiting a branch by example are evidently more carbon-intensive. Having said that we must also recognise that for us at [HSBC and other banks](https://www.financedigest.com/hsbc-acquires-british-arm-of-stricken-silicon-valley-bank.html "HSBC acquires British arm of stricken Silicon Valley Bank"), technology is a sizeable part of our carbon footprint. So what are the levers we have to influence the size of this footprint? There are a number of choices we can make that have a positive impact — from large decisions around hosting, through to how we [manage our day-to-day activities across technology](https://www.financedigest.com/how-ai-driven-technology-can-make-expense-management-faster-smarter-and-easier.html "How AI-driven technology can make expense management faster, smarter and easier"). One of the most impactful things we can do is to use the cloud. Whilst we are moving to more sustainable internal data centres, cloud providers are generally ahead of this curve as they have had to [drive a high degree of efficiency to support](https://www.financedigest.com/seenthis-joins-ad-net-zero-uk-and-supports-drive-in-the-us.html "SeenThis joins Ad Net Zero UK and supports drive in the US") their hyperscale demands. That, and their advances in use of [green energy](https://www.financedigest.com/green-initiatives-cut-self-storage-business-space-stations-energy-costs-by-75.html "Green initiatives cut self-storage business Space Station’s energy costs by 75%"), puts them ahead in the goals of net-zero carbon. But [cloud isn’t the only answer — we need to think about how we use the technology](https://www.financedigest.com/the-benefits-of-adopting-cloud-technology-in-the-finance-industry.html "The benefits of adopting cloud technology in the finance industry") more broadly. Here are just some of the [things we as technology leaders should consider:](https://www.financedigest.com/car-hire-for-smes-things-to-consider.html "Car hire for SMEs: Things to consider") - Are we rightsizing our applications? [– Typically utilization figures of servers are low](https://www.financedigest.com/unlocking-the-code-how-to-benefit-from-low-code-platforms.html "Unlocking the code – How to benefit from low code platforms"), so would efficient use of containers and virtualization help? - We often “gold plate” solutions – does the [solution warrant the size of infrastructure deployed to meet](https://www.financedigest.com/meet-tilak-joshi-the-fintech-ceo-building-modern-solutions-for-the-gig-economy.html "Meet Tilak Joshi: the fintech CEO building modern solutions for the gig economy") this business need? - Do [systems need to be up and running 100% of the time](https://www.financedigest.com/it-is-time-insurers-act-smart-by-making-legacy-systems-a-thing-of-the-past.html "It is time insurers act smart, by making legacy systems a thing of the past")? We typically leave infrastructure running when not in use. Do those [development and test](https://www.financedigest.com/the-arbovirus-testing-market-gloat-over-organic-development.html "The Arbovirus Testing Market Gloat Over Organic Development") environments need to be running 100% of the time? Can we scale on demand rather than pre-provision to [meet](https://www.financedigest.com/meeting-both-operational-and-customer-demands-how-insurance-can-adapt-in-a-disrupted-world.html "Meeting both operational and customer demands – how insurance can adapt in a disrupted world") spikes in capacity demand? This is another area where cloud helps. - What about data? It too has a carbon footprint. Do we always consider the data lifecycle and have efficient processes for data archiving and deletion, or do we [keep the data](https://www.financedigest.com/three-ways-the-data-cloud-can-keep-financial-services-competitive.html "Three Ways the Data Cloud Can Keep Financial Services Competitive") around – just in case? - Duplication – do we have duplicate [solutions that meet a business](https://www.financedigest.com/exact-launches-practice-management-solution-to-help-transform-accountants-into-trusted-business-advisors.html "Exact launches Practice Management solution to help transform accountants into trusted business advisors") need? Do we really need this, or would consolidation help [reduce the carbon](https://www.financedigest.com/how-to-reduce-your-business-carbon-emissions-without-impacting-profit-margins.html "How to reduce your business’ carbon emissions without impacting profit margins") footprint? - The desktop – are we thinking about carbon footprint in our desktop? There is significant variation [across desktop devices that needs](https://www.financedigest.com/tech-awakening-needed-across-uk-workforce.html "Tech awakening needed across UK workforce") to be considered. Are we considering the whole life of a device through manufacture, transport, use, and eventually decommission? These are just some of the [things we need](https://www.financedigest.com/three-things-every-payments-professional-needs-know-psd2.html "Three things every payments professional needs to know about PSD2") to consider, and I am sure many people are already aware and doing this. There are more options out there, but the most important thing we can do is start thinking about the various options we have at hand, make sure we are having these conversations and [challenge the carbon efficiency of our technology](https://www.financedigest.com/five-technology-challenges-that-are-holding-back-legal-innovation.html "Five technology challenges that are holding back legal innovation") use. At HSBC, we are committed to achieving net zero in our own operations and supply chain by 2030 or sooner – read more [here](https://www.hsbc.com/who-we-are/our-climate-strategy/becoming-a-net-zero-bank). --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---