In 2023, we believe companies and investors will have to prepare for reporting under a number of new and complex sustainability disclosure standards and adapt as they continue to evolve. The need for stronger collaboration shines through the five key sustainability and climate trends I expect to see in 2023. Fundamentally, if we take a long-term perspective, we will deal with climate change. Tackling pollution from source to sea will be increasingly important. Successful examples include multi-stakeholder platforms like the Global Commitment, led by the Ellen McArthur Foundation and the United Nations Environment Program, through which 500 signatories such as Nestl, PepsiCo, Coca-Cola, Unilever, Mars, and LOral which together utilize 20% of all plastic packaging produced globally have committed to ensuring that all plastic packaging is reusable, recyclable, or compostable by 2025, among other circularity goals. In turn, this has taken a heavy toll on the sea level rising, European glacier melting, and extreme weather events from . Today, we have at least 13,000 large and medium-sized companies in Europe transitioning towards more sustainable operations by disclosing their climate footprint. Whether it is reducing waste, optimizing the supply chain, or eliminating emissions, insights from sustainability data can help to reach net-zero emissions. Heres a summary of their investment priorities. Five key ESG Credit Trends for 2023 identified by Sustainable Fitch: 1. 2023 Sustainability Trend - Transition to Net-zero Countries and companies have taken responsibility for climate change and raised their carbon emissions reduction ambition. Surely thats progress that will help us breathe a little easier and live longer. Only 18% of global respondents mentioned they are currently investing or planning to invest in supporting their suppliers to decrease carbon emissions, according to Euromonitors Voice of the Industry: Sustainability Survey 2022 , fielded January 2022. These new rules and disclosure standards aim to enhance transparency and consistency on sustainability-related issues and mitigate the risk of misrepresentation, perceived as greenwashing, in financial markets. Resilience & Adaptation: There will be further progress on loss and damage and the global adaptation goal. With most models still at an experimental stage, a tougher challenge is spreading solutions globally. Most companies struggle to measure scope 3 emissions, as they still need to work more closely with their suppliers. Therefore, for companies to remain competitive and relevant in such fast-evolving sustainability environments, proactive collaboration with key stakeholders is crucial. For example, integrating ESG standards faces some opposition in the U.S., while in Europe and Asia, there are calls for greater action through regulations and public commitments. 6. But while the costs of deploying solar have increased, these should start declining and have been relatively small compared to European natural gas price increases, which have risen nearly eight times higher over the past two years. According to HolonIQ we already have 47 climate unicorns worth more than $1bn. The final drafts of these standards should be adopted in 2023. , led by the Ellen McArthur Foundation and the United Nations Environment Program, through which 500 signatories such as Nestl, PepsiCo, Coca-Cola, Unilever, Mars, and LOral which together utilize 20% of all plastic packaging produced globally have committed to ensuring that all plastic packaging is reusable, recyclable, or compostable by 2025, among other circularity goals. The MarketWatch News Department was not involved in the creation of this content. Money matters are also driving sustainable business norms. For example, long-term energy transition goals will be weighed alongside nearer-term considerations such as energy affordability and security. In addition, products carrying carbon-neutral/reduced carbon claims globally increased by 38% during 2020/2021, according to Euromonitors Sustainability Opportunity Tracker (15 countries in seven industries). In June 2021, the International Organization of . Gartner researchers predicted that political bodies worldwide would support nation-state commitments to invest tens of trillions of dollars in climate mitigation from 2025 to 2035. We know that sustainable fashion is high on our trend predictions for 2023, but what also featured in our research was the increased use of sustainable materials.
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