By Mr.Ng Ngee Khiang, Managing Director, Epson Malaysia
The events of the past two years have prompted a renewed focus on ESG issues including a marked shift in what consumers value in the companies and products they purchase from. Aside from growth, profitability, company culture and corporate governance, what defines a successful company today includes a company’s attitude towards the environment and sustainability.
Consumers are now more aware of our impact on the environment and the importance of sustainability than ever before, and are more likely to boycott, reject or switch brands based on their environmental and sustainability credentials.
Thus, the demand for positive ESG practices is stronger than ever among ASEAN’s regulators, investors, and businesses, where its prioritisation is not only perceived as a risk mitigation measure, but also as an opportunity to tap into the multi-trillion green economy.
There are also several measures initiated by the Malaysian government in its commitment towards accelerating the Sustainable Development Goals (SDGs). Malaysia has articulated its vision to become a carbon neutral nation by 2050. In addition, the Government is also incentivizing sustainability actions through taxes and grants to further support businesses to pivot their business model and build resilience. These commitments will inevitably disrupt business models, business operations and ultimately, the entire economy.
The pressure is on for companies to strive for better and it has encouraged businesses to adapt sustainability more urgently into the different facets of their business. Companies are now more conscious to keep carbon footprint down through sustainable sourcing and emission reduction within their supply chain, opting for greener, more efficient technology developed with impact, longevity, and profitability in mind.
While investing in greener technology comes with a cost, business leaders are realising that doing so is not just about corporate responsibility but an overall long-term business strategy. First, sustainable business practices drive brand loyalty from consumers. Second, businesses are finding that they can find a win-win solution by employing sustainable solutions for higher savings, better productivity, and lower costs, making them profitability resilient especially during times of crisis.
At Epson, we are committed to developing products that are better for the environment while raising our customers operational efficiency and productivity to yield better savings.
Waste Reducing Technology
Smart investments into secure and robust IT equipment that reduces waste will not only save time and money in the long run but can improve sustainability credentials and create a better and more robust reputation for businesses that want to be greener.
Epson creates its products in a way that eases the burden of frequent parts replacement. With minimal parts to change, there is less production downtime and businesses can benefit from a more efficient process that increases output. Also, eliminating the need to frequently replace parts means less waste produced for the environment.
For instance, Epson’s laser projectors are built with a laser light source that can be used up to 20,000 hours maintenance-free compared to lamp projectors which need regular bulb replacements. Another product to be introduced to the region is Epson’s revolutionary PaperLab, which is the first office-based papermaking system that will shrink businesses’ environmental footprint by repurposing used paper and using 60% less water in the process.
Reduced Energy Consumption
Many companies spend millions on energy every year. This is not just costly, but also represents an often overlooked opportunity to reduce risk, increase resilience, and add value across the board. As environmental concerns grow more urgent and new technologies emerge, companies must respond to these shifts with a robust energy strategy.
Besides looking into enterprise technology trends such as cloud, the Internet of Things (IoT) and Artificial Intelligence (AI) to save energy, business can start looking into one of the most obvious opportunities to reduced energy consumption, and one of fundamental importance: the humble office printer. Commonly viewed as a commodity, printer has the potential to be a force for good in business – creating an immediately positive impact on efficiency and cost savings.
Epson’s EcoTank printers, for example, are equipped with PrecisionCore Heat-Free Technology and use no heat in the printing process. This signature technology means less power and electricity which leads to cost savings, improved productivity, and lower environmental impact for businesses in the long term. The PrecisionCore printheads also result in as much as double the output through its printing speed and accuracy compared to the typical printers used commercially.
Taking the first step in building sustainability in one’s business can be daunting when one is unsure where to begin. Through our Epson technologies and solutions, we make it easier for our customers to become increasingly more sustainable and realize long-term benefits for their business.