Sustainability has become one of the most important issues to consumers. 60% of consumers are more likely to purchase sustainable services and 30% are willing to pay more for sustainable services. One industry that is taking this trend in stride is the financial services industry.
Every credit check and financial transaction done produces some carbon emission. This is due to the physical servers that host the networks that produce these actions. Physical servers like these have more than doubled since just 2016.
Cloud computing is a new alternative to these physical servers, hosting the existing networks completely within the internet. Migrating to the cloud, within the year, could produce a 5.9% reduction in total IT emissions.
Continuing this migration would only serve to continue that trend. Moving applications to be cloud-native could reduce carbon emissions by up to 98%. Companies such as Equifax have partnered with Google Cloud to produce new cloud-native technology and infrastructure. Progress can be seen as five Google data centers are already operating at a 90% carbon reduction. Equifax itself is also committed to having net-zero emissions by 2040. Technology has rapidly progressed, and although this has led to increased carbon emissions, it’s that same technology that is looking to bring those emissions back down.
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