We have seen a complete shift in Environmental, Social and Governance (ESG) Responsibilities from ‘nice-to-have’ to ‘must-have’ as it has become a key driver in most of the investment decisions. But, our vision behind founding viAct with an ‘ESG-First’ Approach is more than that because we deal with the industry which has been questioned always when it comes to ESG. Yes! The Construction Industry.
We have founded viAct to solve the challenges faced by Construction Industry like Safety and Productivity with the help of Artificial Intelligence. And, thus it became our prime responsibility to address the Environmental, Social and Governance (ESG) related challenges as well in order to deliver a holistic solution.
As the world is very much known to the fact that the construction industry has a devastated impact on the environment. The Chartered Institute of Building has researched that the built environment generates 30% of total greenhouse gas emissions and construction uses 32% of the world’s natural resources. The built environment in the UK contributes to 45% of its greenhouse gas emissions.
These factors made us to think about that how our AI enabled cloud solution and the complete process including physical assets can help in improving Environmental, Social and Governance (ESG) ranking for our clients/partners and even for our own selves.
Making ESG a Reality:
We being a ConTech StartUp understand infrastructure creates numerous opportunities for everyone and integrating ESG in approach with our technical excellence and expertise of Artificial Intelligence puts us in the best and never imagined before position in the ConTech Industry.
viAct has taken a range of organised steps to fulfil its ESG credentials to bring in sustainability not just in its product but also in its work culture. 5 of these measures are mentioned below:
- Born With the Idea of Saving Lives Through AI
While founding viAct, our motto was to ‘Save Lives’ with the help of our AI based monitoring module, protecting the construction workforce from any unprecedented dangers through smart alert systems have been our prime considerations. The basic aim of our AI based solution was to increase the level of work satisfaction along with a healthy, sustainable and happy work environment in the industry with a higher sense of association with their organisation.
So, even our foundation is full of ESG responsible approach!
- Remote First Startup in ConTech Ecosystem
As our solution is SaaS based and totally works on a cloud platform, even our deployment process is very easy to use at construction site as it does not even require technical expertise to install. At the same time, our AI is so smart that it does not have camera restrictions and can be installed with any cameras even the regular CCTV cameras available at jobsite.
That is why, we were always clear to introduce a “remote first” working culture since inception.Construction Industry This approach also helped us to recruit the best minds from all over the world regardless of locations. This also gives us a more international perspective in working.
Moreover, making our solution robust and offering remote-first opportunities gave us more flexible working and best talents from the world but the idea always was to adopt a socially responsible approach. And, it helped in keeping workforce safe from COVID19, providing them a work environment of their comfort and a happy family after all.
- Digitized The Work Since Inception
viAct’s cloud solution digitize the construction projects with the power of AI, resulting in transformation of paper-based workflow into completely paper-less workflow; curbing the use of papers for maintaining day-to-day records for site monitoring purposes from workforce distribution, attendance, machinery or vehicles operation efficiency & tracking their locations to material prediction management.
The module also connects all the stakeholders at one easy to use platform keeping them instantly informed about misconducts or non-compliances. This help in building a transparency in governance at each level of the organization from labours to decision makers to project owners, helping stakeholders to make effective decisions and to comply with the laws and regulations. This particular module has helped in seeding a sense of better governance when it comes to construction industry.
These operational factors ultimately helped in fulfilling Environmental, Social and Governance (ESG) on our behalf.
- Opted Sustainable Energy Resources
We have developed the AI processed power and made it green energy friendly, with our light weight AI algorithm, clients can use solar energy to support the whole monitoring system. This major innovation in our asset was intended to cater the Environmental factor of ESG.
- Introduction of AI Modules That Save Environment
One of our modules was created to cater the environmental protection needs, we build our technical stack to detect illegal dumping, waste classification and site environment management to fulfil government compliance, rules & regulations. Moreover, this module can also help in managing the utilization of heavy machines in order to minimize the Co2 emission during their operations and can check thru the air quality.
From inception to work culture to developing each module viAct has been concerned about Environmental, Social and Governance (ESG) responsibilities and even executed the same in each aspect of working.
In future planning, we are very much prepared to inculcate Environmental, Social and Governance (ESG) responsible behaviour in various construction companies of Asia & Europe and also in their work culture. This will be made possible with the help of our experience in ESG oriented approach till now and our technological expertise. So, the ConTech industry can play a role of catalyst in developing ESG responsible behaviour in Construction Industry and viAct can be a flag waver for the same.
viAct believes that your actions keeping society in consideration speaks volumes about your organization. Thus, we are now focusing more than ever before on building relationships and improving communications to ensure ESG responsible approach with key stakeholders, contractors, construction companies, builders and government authorities by working hand-in-hand.
Contact our experts, to discuss how our team can help address your construction project’s ESG related challenges and we together can come out with an appropriate solution in order to build a Better Future with an ‘ESG-First’ Approach.