Extended Reality (XR) technologies, including virtual reality (VR), augmented reality (AR), and mixed reality (MR), are transforming sustainability efforts and business practices as the climate crisis intensifies. These immersive technologies are enabling businesses to tackle climate risks more efficiently and drive sustainability innovations. At the World Economic Forum’s Global Collaboration Village, XR platforms are being used to unite leaders in their efforts to address climate challenges. Through virtual simulations, decision-makers can visualize data and explore the long-term impact of transitioning to renewable energy, fostering global collaboration and strategic planning. By 2030, XR technologies are expected to generate $1.5 trillion in value for the global economy, with a large portion tied to sustainability efforts. Companies across industries are adopting XR to optimize their operations and reduce environmental impacts. For instance, the automotive industry, including firms like Ford and BMW, is using VR to design energy-efficient vehicles, cutting down on waste and reducing carbon footprints.
Meanwhile, AR and MR technologies are improving supply chains by enabling real-time decisions, optimizing delivery routes to reduce fuel consumption, and allowing remote monitoring to decrease the need for travel. Moreover, XR technologies are playing a significant role in workforce training and education, allowing businesses to engage employees in sustainability initiatives more effectively. Through immersive experiences, employees can visualize the environmental impact of their actions, making sustainability more tangible and fostering a culture of climate awareness within organizations. XR also plays an important role in addressing broader climate challenges. At the 2024 UN World Summit, leaders will use the Climate Tipping Points Hub, where they can explore risks and possible solutions for global ecosystems like the Amazon. By connecting business decisions to the top of the earth system, XR provides a powerful tool for long-term planning and risk mitigation. Ultimately, XR technologies are not only changing the way companies work, but also empowering them to become leaders in climate action. By delivering real-time simulations and immersive experiences, XR helps businesses adopt integrated, data-driven solutions to address the climate crisis while maintaining financial sustainability.