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Sustainability of the Metaverse: A Transition to Industry 5.0

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  • Pietro De Giovanni

    (SDA Bocconi School of Management, Via Sarfatti 10, 20136 Milan, Italy)

Abstract

This study analyzes the sustainability of the metaverse technology by adopting a responsible digitalization perspective to drive the transition to Industry 5.0. This is motivated by the current experiences of digital transformation paths, which appear careless regarding the side effects induced when adopting digital technologies—for example, the energy consumption associated with blockchain, the jobs lost due to 3D printing, and the continuous payments required by artificial intelligence systems. While very few sustainable solutions are currently available to properly address these issues, similar effects might materialize when adopting metaverse technology. Therefore, this study provides tools to undertake a responsible digital transformation path through the metaverse to properly manage the transition to Industry 5.0. Specifically, it offers a set of frameworks to analyze the metaverse either from the perspective of the triple bottom line or by adopting an environmental, social, and governance (ESG) perspective and linking it to the most impacted business strategies or by connecting the technology to the sustainable development goals (SDGs). These tools enable readers to understand how society at large can responsibly implement, adopt, and manage a metaverse. By utilizing these frameworks, businesses can identify the most impacted strategies and take action to address any potential negative impacts.

Suggested Citation

  • Pietro De Giovanni, 2023. "Sustainability of the Metaverse: A Transition to Industry 5.0," Sustainability, MDPI, vol. 15(7), pages 1-29, March.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:7:p:6079-:d:1113124
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    References listed on IDEAS

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    Cited by:

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    2. Eduardo Augusto Machado & Luiz Felipe Scavarda & Rodrigo Goyannes Gusmão Caiado & Renan Silva Santos, 2024. "Industry 4.0 and Sustainability Integration in the Supply Chains of Micro, Small, and Medium Enterprises through People, Process, and Technology within the Triple Bottom Line Perspective," Sustainability, MDPI, vol. 16(3), pages 1-25, January.
    3. Elli Kontogianni & Leonidas Anthopoulos, 2024. "Preliminary Research Results on Exploring the Business Ecosystem and the Value Sources of Metaverse," Sustainability, MDPI, vol. 16(8), pages 1-19, April.
    4. Shekhar Rathor & Mingyu Zhang & Taehoon Im, 2023. "Web 3.0 and Sustainability: Challenges and Research Opportunities," Sustainability, MDPI, vol. 15(20), pages 1-17, October.
    5. Trotta, Annarita & Rania, Francesco & Strano, Eugenia, 2024. "Exploring the linkages between FinTech and ESG: A bibliometric perspective," Research in International Business and Finance, Elsevier, vol. 69(C).
    6. Zhong, Ziqi & Zhao, Elena Yifei, 2024. "Collaborative driving mode of sustainable marketing and supply chain management supported by metaverse technology," LSE Research Online Documents on Economics 121160, London School of Economics and Political Science, LSE Library.
    7. Amjad Almusaed & Ibrahim Yitmen & Asaad Almssad, 2023. "Reviewing and Integrating AEC Practices into Industry 6.0: Strategies for Smart and Sustainable Future-Built Environments," Sustainability, MDPI, vol. 15(18), pages 1-27, September.
    8. Ștefan Vlăduțescu & Georgiana Camelia Stănescu, 2023. "Environmental Sustainability of Metaverse: Perspectives from Romanian Developers," Sustainability, MDPI, vol. 15(15), pages 1-20, July.
    9. Mohammad (Behdad) Jamshidi & Arash Dehghaniyan Serej & Alireza Jamshidi & Omid Moztarzadeh, 2023. "The Meta-Metaverse: Ideation and Future Directions," Future Internet, MDPI, vol. 15(8), pages 1-31, July.

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