Impact of the Internet of Things in Sustaining Performance and Demonstrating Sustainability

Abstract

The most important development of the fourth industrial revolution in terms of sustainability is the increased ability to generate, capture, and transmit data, especially from the internet of things (IoT) and from related devices. The aim of this study is to identify the role that the IoT plays in the sustainable performance of companies and to demonstrate the role that IoT technology can play in improving disclosure of sustainability. The study found that IoT technology helps to strengthen sustainable performance by maintaining available resources and efficiently allocating them, improving energy consumption, improving sustainable practices of the supply chain, and considering the environmental impact of activities and products. At the same time, the IoT plays a major role in strengthening its quality by helping in the compilation of required data for sustainability reports (SR). It is simplified and automated in the process of collecting data for real-time human sustainability. Automation and analysis of sustainability data are assisted by various artificial intelligence tools, automatic updating of sustainability reporting laws and standards, and the IoT helps improve the quality of information published in the sustainability report, providing information that helps compute both financial and non-financial metrics for assessing the performance of sustainable businesses, and automating the process of sustainability reporting.