The metaverse is a central technology trend in the 2020s, having sky-rocketed in societal awareness. Similarly, sustainability has become an increasing market-, and consumer trend, with the market value for sustainability and green tech expected to reach 51.09 billion USD by 2029.
It is, therefore, relevant to consider the overlap between these trends, and which possibilities and challenges the markets present for each other. Conversations about sustainability and the metaverse are very essential, because the concerns about energy consumption and conservation as well as about the environmental impact, may prove to be both a big driver and blocker of the metaverse.
But while the metaverse will create emissions, it may also create reductions in the form of waste, materials and emissions. It can reduce the need for global movement. People will no longer need to fly to international meetings, travel to go on vacation, or move physical products across the globe.
Through this thought leadership we aim to provide a nuanced perspective on how the metaverse might impact the world’s ability to become sustainable. Combining our own knowledge with insights from a series of industry leaders and experts, this thought leadership provides an initial insight into ESG considerations when starting the metaverse journey, and outlines the steps recommended by our experts.
Read more by downloading the report below.
The report includes interviews with six external business experts from various technological fields, who share their insights on how the metaverse might impact sustainability.
One of the experts is Sofie Hvitved, Senior Advisor & Head of Media at Copenhagen Institute for Futures Studies, who among other things emphasizes that while the metaverse offers new opportunities for the way we approach environmental and social issues, it requires regulation – whether from governmental institutions or organizations, to protect users and create safe spaces:
The technology undoubtedly harbors potential, but it also carries a myriad of risks. It is therefore up to us as users and the regulators, as well as the big tech, who currently are in the driver’s seat in terms of investments and capital, to make sure that we do not repeat the mistakes we made in web 2.0. Because, as the saying goes ‘fool me once shame on you fool me twice, and we did it knowingly.
Senior Advisor & Head of Media, Copenhagen Institute for Future Studies
Contact our experts
Partner and Head of Innovation & NewTech
KPMG in Denmark
Michael B. Jensen
Partner, Head of Products & ESG
KPMG in Denmark