The Rising Cost of Technology—Balancing Innovation, Equity, and Climate Action

Technological innovation is reshaping industries and economies, but it comes at a significant environmental cost. Cryptocurrencies like Bitcoin consume more energy annually than some medium-sized countries, while the rapid expansion of AI and its supporting infrastructure, such as data centers, is driving exponential increases in electricity and water consumption. The International Energy Agency projects that data center energy demand alone will more than double by 2026, raising urgent questions about how these technologies can coexist with efforts to decarbonize and build sustainable economies.

In this panel, industry leaders and experts, including InfluenceMap's Executive Director, Dylan Tanner, will answer the question of how the tech sector can balance innovation and climate action. Panelists will answer the following questions:

• How can the tech sector contribute meaningfully to global decarbonization efforts?
• As the tech sector’s energy demand grows exponentially, how can large energy and tech companies reassure the public that they are genuinely committed to achieving net-zero, especially in light of concerns over transparency and emissions reporting?
• Considering the disparities in energy and resource consumption between countries, how will the further increase in energy demand hinder our ability to ensure a just and equitable transition?
• How can AI and digital technologies help us optimize energy use, improve resource efficiency, and develop climate-resilient infrastructure?

The panel is part of the Financial Times Live Climate & Impact Summit Europe, jointly presented by FT's Moral Money and Climate Capital. The Summit provides a powerful forum for leaders in business, finance, and policy to tackle climate challenges and drive progress toward the SDGs, with a focus on actionable solutions and meaningful impact. This comprehensive platform will focus on high-growth sectors, actionable insights and rigorous sustainability standards to mobilize private capital, accelerate technology adoption and establish clear policy pathways for progress.

Panelists include:

• Adam Elman, Director of Sustainability EMEA, Google
• Christina Shim, Chief Sustainability Officer, IBM
• Lloyd McAllister, Head of Sustainable Investment, Carmignac
• Dylan Tanner, Executive Director, InfluenceMap
• Moderated by Camilla Palladino, Deputy Head of Lex, Financial Times