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Six predictions for ESG in 2024- The year ESG emerged from fad to essential business

Six predictions for ESG in 2024: The year ESG emerged from fad to essential business

Natalie Runyon
Thomson Reuters Institute
Just because companies worldwide have to operationalize ESG more fully in 2024, it won’t come without resistance, as it will require overhauls in everything from design processes and procurement strategies to financial management and marketing and communication practices. Transition is the keyword, as ESG evolves from “optional extras to integral elements of corporate strategy, essential for generating sustained value.” And since the release of the Task Force on Nature-related Financial Disclosures (TNFD) last September, biodiversity is going mainstream.
The year ahead in ESG- assurance, transition finance and natural capital

The year ahead in ESG: assurance, transition finance and natural capital

Nico McCrossan
GreenFin Weekly, GreenBiz Group
In addition to the rise of transition financing, not only will companies now be creating and hiring ESG controllers to adhere to various climate accountability acts (like those in California and the European Union), but the TNFD will help speed up the development of the “planet economy,” according to former Microsoft chief environmental officer turned private equity investor Lucas Joppa. An economy that will provide investors with more and better tools to invest in nature—at scale.
‘Transition Finance’ Takes Center Stage in 2024 - photo by Saul Loeb AFP

COP28 Presidency, United Nations Climate Change and Bloomberg Philanthropies Launch New Industrial Transition Accelerator for Heavy-Emitting Industries

Bloomberg Philanthropies
One concrete development to come out of the COP28 meeting in Dubai late last year was the launch of the Industrial Transition Accelerator (ITA), the world's largest industrial decarbonisation initiative to date. The ITA plans to pair up global industry leaders with policymakers, finance and technical experts. The goal being to unlock investment and rapidly scale implementation and delivery of projects needed to cut emissions and “to catalyse decarbonisation across heavy-emitting sectors, including energy, industry, and transportation, and accelerate the delivery of Paris-aligned targets.”
Strategic Intelligence Outlook- climate litigation, economic strains and more in store for 2024

Strategic Intelligence Outlook: climate litigation, economic strains and more in store for 2024

Abhinav Chugh, Tarika Lall, Sargun Kaur Lalia
World Economic Forum
Participant experts who took part in the World Economic Forum's Strategic Intelligence Outlook offered what they feel will be the trends for 2024—on everything from climate litigation and AI to disinformation and developing people’s “foresight.” One obvious and often overlooked fact: that over 50% of the world’s GDP comes from nature, and, as one attendee said, “if we start losing nature, so many businesses are dependent on it if not directly, then indirectly through their supply chains and clients.”

Additional Articles

24 Predictions for 2024

Among the two dozen predictions and happenings from Grist for the next year: the official kickoff of the American Climate Corps, wherein 20,000 18- to 26-year-olds will spread out across the U.S. to install solar projects, mitigate wildfire risk and make homes more energy-efficient; installing a climate reparations fund at the World Bank; the spread of “greenhushing” (corporations hiding their climate commitments to avoid scrutiny); and a boom in carbon-capture technology.

2024 Market Outlook: Forget About Predictions

What with solar and wind energy becoming such inexpensive electricity sources nowadays, and with the Inflation Reduction Act finally taking root in the business community, expect a boom in renewable energy investments. All of which will be even more possible given decreasing Fed rates and a slowdown in inflation.

Supply Chain Predictions 2024: AI, Sustainability Top of Mind

Pre-pandemic supply chains could be as dirty and unsustainable as they always were. No more. As foretold here, companies have begun to home in on more and better risk-mitigation strategies, such as on-shore, near-shore and off-shore being closer to actual demand and coming up backup sources and suppliers for key materials. Overall, supply chains will also be coming under more ESG scrutiny and be expected to be smarter about how they (positively and negatively) affect sustainability.

Whole Foods Market Forecasts Top 10 Food Trends for 2024

Among the 10 forecasts put out by Whole Foods’ Trends Council: more plant-based offerings and a whittling down of ingredients; even cleaner “clean caffeine” products, and coffee and energy drinks with everything from mushrooms and probiotics to berries and limes; hormonal remedy products (bars, teas and “sleepy girl mocktails”) for women’s health; and products grown with regenerative agriculture—from rices to shampoos.

2024 Sustainability Trends: looking beyond carbon and new approaches to ESG data

New ESG and sustainability regulations, set to go into effect across the globe over the next year, will put pressure on companies to be officially transparent. And the sustainability agenda will move beyond fossil fuels to other areas such as methane emissions, addressing deforestation and increasing and protecting biodiversity. All of which, businesswise, will mean balancing short-term profits with long-term sustainability investment.

Design trend predictions for 2024 include rush for sustainable accreditation

In an effort to stanch the depletion of forests and ocean life, designers and manufacturers will continue to dream up alternatives to the materials they’ve traditionally relied on, especially those coming from supposedly sustainable resources—all in an effort to lower the impact of our consumption on the planet’s various systems. Part of which involves the shortening of supply chains and the surge in new biomaterials and fabrication techniques.

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