As more governments strive to achieve net zero emissions by 2050 and the EU’s Carbon Border Adjustment Mechanism is set to take effect in 2026, companies that prioritize environmental, social and governance (ESG) frameworks will be well-positioned to create long-term value and succeed in the post-COVID-19 pandemic world.
Healthcare systems are different from enterprises, but hospitals should regardless utilize the same ESG frameworks. The global healthcare sector is the fifth-largest carbon dioxide emitter on the planet. Medical equipment consumes great amounts of power and considerable medical waste is produced every day.
Hospitals have been developing smart healthcare systems to improve risk management and information security. In the post-pandemic era, the medical sector must transform itself according to ESG frameworks to cope with rapid economic and environmental changes. By employing ESG strategies, hospitals can provide quality healthcare in a manner that is sustainable, environmentally friendly and cost effective.
Hospitals should develop carbon management plans to achieve net zero emissions, implement decarbonization toolkits and take advantage of government policies.
It is also crucial that hospitals use digital technology. Smart healthcare has proven useful in simplifying administrative procedures, reducing clinical workload and improving patient safety. Health facilities should upload paperless medical records to the cloud to track Health Passbooks and payments.
To keep up with the world, Taiwan’s medical system should adopt the international standard of Fast Healthcare Interoperability Resources and use Internet of Things devices to monitor the power consumption and carbon emissions of medical equipment.
Artificial intelligence can help the nation make the most of its medical resources. Likewise, the nation could use blockchain technology to visualize carbon emission data and promote carbon trading.
The country could also use robots to deliver food and medicine. Video consultation and videoconferencing should also be encouraged.
To reduce medical waste, hospitals should recycle and reprocess their refuse, while striving to conserve water. Electricity could be generated through solar panels mounted on hospital buildings.
Hospitals can provide patients with environmentally friendly vegetarian meals, construct energy-saving green buildings and use new technologies to offset carbon emissions. The principle of energy saving and carbon reduction must be incorporated in the culture of hospitals.
Social participation is also significant for hospitals to achieve ESG goals. Hospitals can engage with local communities by enhancing local residents’ social welfare and international medical care.
Overall, hospitals must establish an efficient and transparent governance structure involving an ESG committee. In this way, when responding to environmental issues and social emergencies, a set of mechanisms to manage risks and solve problems can be launched effectively.
The world has entered the era of “Industry 5.0.” Soon, automation and sustainable zero-carbon manufacturing would be fully combined. For the nation’s medical system to address the climate crisis and achieve environmental sustainability, hospitals must develop ESG strategies to become sustainable and resilient to these unprecedented changes.
They can achieve these goals through environmental protection measures, high-quality medical services, socially responsible investments and effective management systems.
Wang I-Jen is a director of the Ministry of Health and Welfare’s Taipei Hospital and a professor at National Yang Ming Chiao Tung University.
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