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By CSE research team
In Europe, expect them to strengthen. In the US, expect them to emerge. New laws are inevitable. Whether it be a result of the Biden administration or countries stepping up to meet the UN Sustainable Development Goals, here are a few areas where new or stronger laws could affect your sustainability program.
Increased minimum wage – Many claim pandemic benefits are keeping people out of the work force. What does it say about minimum wage when a healthy work-age population would rather suffer the ignominy of unemployment? States are changing their rules. Corporations should transition now to keep from a shock later.
Products produced by illegal labor – Be ready for greater outcry and action against slave labor, human trafficking, underage labor – no child laboring to deliver the chocolate candy they should be enjoying, not harvesting. Be ready for the list to grow to include vanilla, minerals, and even recycled materials. The laws against illegal labor in existence will be enforced and other related regulations added.
Polluter pays principle – The circular economy will expand as more and more companies are responsible for their plastics, their sludge, their by-products. Expect take-back laws that put the onus on corporations to actively manage their post-consumer products (not waste!) and productively turn them to new use.
Energy policy, at scale, to harvest the Sun – We receive enough sunshine in a day to power the world for a year. Solar panels, wind turbines, battery technology will grow under government support. Green bonds are already available to move toward all the renewable and emerging technologies needed to power even the most energy intense industries.
What is needed now is the vision and creativity to address these issues before they become mandates. Which will most affect your industry? Kick start your efforts by reviewing your existing ESG (environment, social, governance) strategy. In addition to training that offers the foundation needed to address tomorrow’s challenges, CSE services can bring insight to corporate systems and the pressure points that can take a company to the next level.
