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Investing in Digital Sustainability for Cost-Efficient Built Asset Management

By January 12, 2024No Comments
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In an engaging session during the DIG.IT.ALL Forum Series, held in conjunction with the International Construction Week (ICW) 2023 and hosted by CREAM, Arivagara Pavithran, CEO of Maxwell Cfm International Sdn Bhd, explored the crucial necessity of investing in digital sustainability for attaining cost-efficient built asset management. The presentation shed light on prevailing sustainability challenges within the built environment, highlighting resource and energy intensity issues and a growth pattern that poses risks to the climate.

Arivagara emphasised a new dawn in Malaysia with the advent of the Fourth Industrial Revolution (4IR) and the Industry4WRD National Policy on Industry 4.0, marking a significant stride toward a more technologically integrated future. The Energy Efficiency and Conservation Bill 2023 added further weight to Malaysia’s commitment to sustainable practices.

Underscoring the significance of investment, Pavithran advocates for a value-driven and strategic approach, considering both short and long-term returns to establish a sustainable model for the future. The importance of aligning Internet of Things (IoT) guidelines with sustainability objectives takes centre stage in this narrative, where collaboration models and incentive alignments are emphasised for creating a cohesive and impactful strategy.

The presentation offered insights into a flexible business and investment models, urging the development of cross-industry solutions and achieving scale through demand consolidation. Pavithran underscored the need for impact measurement, encouraging the adoption of a sustainability awareness culture and a framework based on the UN Sustainable Development Goals.

Spotlighting pivotal checkpoints, the session outlined a series of challenges encompassing awareness, innovation in the workplace, top management vision, partnership gaps, and cultural transformation. The call for a comprehensive strategy review was emphasised, aligning with Sustainable Development Goals (SDGs) through IR4.0 technology.

The narrative underscored the significance of taking small yet impactful steps, driving technology transformation in business operations, and the crucial need for attractive incentives to foster sustainability within the construction industry.

Stay tuned for the second part, where we delve deeper into specific strategies and actionable insights for achieving digital sustainability in the construction sector.


Article 2: Navigating the Future: Strategies for Digital Sustainability in Construction

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