From CSE Consulting team
U.S. President Joe Biden and Canadian Prime Minister Justin Trudeau recently made a new agreement to work together in order to achieve net-zero emissions by 2050, promoting a cleaner trade relationship between the two countries. Sustainability is increasingly shaped by climate change-mitigation policies with a goal of achieving net-zero emissions, with great impact on businesses across sectors which now have to adjust to the changing landscape.
These are the 5 upcoming trends in Sustainability and how they will affect business:
1. Energy transition
The energy sector will experience the fastest change, as renewable energy sources are key to net zero emissions. Current business practices focus more on renewable sources and as their prices are constantly falling, this makes it easier to achieve the transition. Specifically, solar power is now the cheapest source of electricity.
Digital developments will play a very important role in the transformation of ESG landscape this year. It seems that environmental services and consultancy sector will undergo great changes because of artificial intelligence, which is promising faster reporting methods, more efficient and accurate materiality assessments and as a whole, a boost in ESG investments.
3. Circular economy strategies
It is expected that circular economy strategies will become the benchmark for supply chain plans. According to the Ellen MacArthur Foundation, circular economy itself is “a transformative COVID-19 recovery strategy”.
4. ESG reporting and metrics
The time that institutional investors will stop buying “non-ESG” products is approaching. As a result of the pandemic, the focus is now turned on ESG standards and social issues, such as public health.
5. Attention on biodiversity
All living beings are interdependent. This is no more taken for granted – it has now started to gain real importance. Nature is being recognized and finance for nature-based solutions is growing.
HOW CSE CAN HELP BUSINESS ON THEIR SUSTAINABILITY PATH
CSE holds the international Certified Sustainability (ESG) Practitioner Program for business executives, presenting all the new trends in sustainable development and how to gain a competitive advantage.
CSE is one of the leading ESG Consulting and Training firms specializing in maximizing social, economic and environmental impact. CSE helps FORTUNE 500 and other organizations around the globe improve their ESG Ratings and maximize their impacts.
CSE is a global provider of Sustainability (ESG) Training programs that help professionals advance their careers through certified on-site, online and group training services since 2004.
CSE offers integrated consulting services on Sustainability (ESG) with a sector-based approach.
If you would like a free ESG Ratings assessment from our Consulting Team, contact us at [email protected]