Our premier, award-winning syndicated market research database provides detailed data and analysis on industries, economies, countries and consumers across 781 cities, 210 countries.. Against this backdrop, we anticipate that 2023 will test companies and investors on the strength and depth of their sustainability commitments and the priorities they support in light of a growing risk of ESG-related litigation. As sustainability has morphed from carbon emissions tracking into company-wide commitments to achieve global imperatives, organizations of all kinds find themselves in the business of creating a healthier world. Our work on water stress in Jordan highlights the need for resilience. 5 Sustainable Finance Trends to Watch in 2023 - LinkedIn The need for stronger collaboration shines through the five key sustainability and climate trends I expect to see in 2023. This has resulted in calls for global convergenceto support consistency and avoid confusion and additional reporting workloads for companies and investors alike. MIT Sustainability Summit. Thank you to all our colleagues across S&P Global who contributed to this research: Laurence Allen, Rameez Ali, Marion Amiot, Giacomo Bareato, Corinne Bendersky, Erin Boeke Burke, Beth Burks, Carlos Cardenas, Bernard de Longevialle, Florence Devevey, Alexandra Dimitrijevic, Jaspreet Duhra, Silvia Favasuli, Michael Ferguson, Rita Ferreira, Taos Fudji, Pierre Georges, Lotte Griek, Lapo Guadagnuolo, Bertrand Jabouley, Roman Kramarchuk, Raoul LeBlanc, Gregg Lemos-Stein, Rick Lord, Tom Lowenstein, Matt MacFarland, Rose Marie Burke, Mary Minton, Matthew Mitchell, Anna Mosby, Karl Nietvelt, Laurent Ruseckas, Francesca Sacchi, Jamie Salo, Roberto Sifon-arevalo, Michael Stoppard, Vijay Subramanian, Priya Suvarna, Cornelis theunis Van der lugt, Kieran Trevor, Barbara Velado, Emmanuel Volland, Ken Wattret, Nora Wittstruck, Xizhou Zhou. 2022 Sustainability Trends Report. Green Construction Trends That Are Emerging in 2023 The topics in this report on today's emerging sustainability trends are selected for their high growth across sites including Google, TikTok, Instagram, Reddit, Twitter, YouTube, and Amazon. But we need to look beyond short-term benefits and keep an eye on the long-term implications of scaling AI too. Lead authors: Lai Ly, Global Head of ESG Research, S&P Global Ratings | Lindsey Hall, Head of ESG Thought Leadership, S&P Global Sustainable1 Co-authors: Bruno Bastit, Terry Ellis, Paul Munday, Bruce Thomson, and Dennis Sugrue, S&P Global Ratings; Esther Whieldon and Jennifer Laidlaw, S&P Global Sustainable1 This report neither addresses views about credit ratings on individual entities nor constitutes a rating action. This important theme will continue into 2023, with the annual meeting of the World Economic Forum in Davos focusing on "Co-operation in a Fragmented World". For many years, sustainability has remained top of mind for food and beverage processors and consumers. Although Forrester analysts expected at least 10 companies to incur $5 million or more in greenwashing fines, the longer term outlook for meaningful environmental impact is far brighter. Critical actions could accelerate the transition while enhancing energy affordability and supporting inclusive economic growth. Top 5 Sustainability Trends for 2023 - Food Industry Executive A personalized transformation journey that teaches you how to unlock the full potential of your leadership. An opportunity lens on sustainability. Collaboration between government, financiers and innovators will be key to scale up these solutions. Gartner researchers said the ability to efficiently navigate the global regulatory environment and scale compliance systems will offer companies a significant competitive advantage. The good news is that AI can also help with better conservation of natural resources through better prediction, managing agriculture yield or managing the demand and supply of energy in energy grids. Setting up a loss and damage fund at COP27 was only the first step. Tackling pollution from source to sea will be increasingly important. Established under the Paris agreement, the GGA aims to create an adaptation equivalent to the global mitigation goal of limiting the global temperature rise to 1.5C. The latest developments in sustainability, trends in bathroom design and the industry's innovations are the focus of the Pop Up My Bathroom trend showcase at ISH 2023.Established by the VDS and Messe Frankfurt, the trend platform for the bathroom sector hosted a large-scale exhibition and accompanying talk forum, both of which were aimed not just at the trades but at . Euromonitor International has identified five key trends affecting the global sustainability agenda in 2023. The proposals from the ISSB, EFRAG and SEC all use the TCFD framework as a reference for climate-related issues, but differences remain in their specific requirements and how they treat wider sustainability issues. Key insights such as 'The Future of Jobs' report will map . Copyright The Economist Newspaper Limited 2023. In addition to more grants, concessional loans and equity, we foresee growing interest in innovative financing instruments, including debt-for-climate swaps, where debtor countries divert payments into adaptation and resilience projects and dedicated adaptation and resilience bonds. Urging business leaders to think further ahead, these analysts predicted a carbon flip after an intensive period of innovation in climate mitigation technologies that is already under way, to be followed by roughly 20 years of implementation for scalable solutions and replacement of carbon-based technologies.. AI: a friend and a foe for sustainability? Heres a summary of their investment priorities. 2023 Restaurant Sustainability Trends - Foodservice, Zero Waste To that end, here are the top sustainable living trends to watch in 2023. Download this insight brief to learn about the top eight ESG and sustainability trends you should expect to see in 2022 and beyond. The IMD Alumni Network is a widespread but close-knit global community in a tightly interconnected and complex business environment. We need a more constructive engagement between the US-led West and non-Western countries. At the wake of the conflict that has stirred markets, Eco-Business rounds up six trends that could influence global sustainability in 2023. 4 Sustainable Travel Innovations Shaping the Future of the Tourism Industry. The provisional agreementin the EU for new regulation for deforestation-free supply chain will mean many companies will have to better understand biodiversity risk. But there are also reasons to be optimistic. Yet only 21% believe that their organizations are very ready to address such issues. In 2022, the European Financial Reporting Advisory Group (EFRAG), the U.S. Securities and Exchange Commission (SEC) and the newly formed International Sustainability Standards Board (ISSB) drafted various proposals for disclosure standards relating to sustainability and/or climate-related issues. Recent research reinforces the link between increasing drought frequency and severity and climate change, which has made Northern Hemisphere droughts in summer 2022 at least 20 times more likely. But actions speak louder than wordsand progress in areas such as food sustainability and reversing deforestation has been mixed over the past year. These trends highlight the delicate balancing act we see stakeholders facing and managing, weighing various and sometimes opposing forces. We will scale new technologies to gradually disrupt our carbon economy. Sustainability Conferences to attend in 2023. Many boards have responded to increasing ESG pressures by recruiting a sustainability specialist. If the current trend continues, the number of disasters could rise to 560 per year by 2030, up 40% from 2015. Meanwhile, new human rights regulations will introduce additional requirements for company supply chain management. Also, several AI giants such as Google and Microsoft have already pledged to become carbon negative soon. We extract and organise ecommerce data from over 1,500 online retailers in 40 countries providing daily updates on pricing, assortment size and key attributes. For this to be achieved, companies need to measure direct (scope 1) and indirect (scope 2 and 3) emissions. IDC analysts predicted by 2024, 30% of organizations will use ESG data management platforms to steer ESG KPIs through a centralized system of record for reporting purposes and real-time operational decision-making support. MSc in Sustainable Management & Technology, Executives-in-Residence & Executive Fellows. 7 sustainability trends to watch in 2023 1 In 2023, consumers will be holding brands responsible for progressing the world's state of sustainability. Corporate The picture looks especially complicated in Europe, where new investment in liquefied natural gas and a slower phaseout of coal could challenge decarbonization plans. Research with more than 3,000 executives since April 2020 shows that between half and two-thirds of leaders say they are operating from a place of dis-ease rather than a position of well-being. Following recent momentum, including that gathered during COP15, we believe policymakers, regulators, companies and investors will more explicitly look to factor biodiversity-related risks and opportunities into decision-making in 2023. Trend watch 2023: Sustainability - NIQ - nielseniq.com Companies need data transparency with detailed precision along the entire value chain. At COP27 countries finally made progress on establishing a framework for a Global Goal on Adaptation (GGA). This was billed as the first Africa COP, and a focus on developing-country issues, as well as the agreement on loss and damage, illustrated the vital need for inclusive communities and considering the impact of climate on the most vulnerable communities. The luxury industries have continued in 2022 to accelerate innovation towards greater sustainability. Track existing and future opportunities to support critical decision-making across all functions within your organisation. But that wasnt really the expectation at what was dubbed an implementation COP, where the focus was on how to turn pledges and commitments into real-world actions and solutions. Amanda Williams,Term Research Professor and Research Fellow. The three trends IEEE Standards Association (IEEE SA) expects to see in 2023 in the energy sector pertain to the following topics: changing electric infrastructure, the water-energy nexus, and more broadly, energy efficiency. Transform Your Innovation Strategy with Megatrends, Earth Day 2023: Now Is the Time to Take Climate Action, Plant-Based Products Boost Sustainability in Asia Pacific, Retailer Corporate Strategies in Private Label. Within three years, these analysts said ESG performance will be viewed as a top three decision factor for IT equipment purchases; over 50% of RFPs will include metrics regarding carbon emissions, material use, and labor conditions. Against a backdrop . ESG and Climate Trends to Watch for 2023 - MSCI 2023 CDFI Sustainable Investing Trends - MarketWatch Natalia Olynec is the Chief Sustainability Officer at IMD, where her work focuses on research, program development, strategy, governance, reporting and advisory. In the longer term, this will likely lead to increased adoption of new types of energy and fuels. This list builds on many of the trends we identified in 2022, several of which we believe will remain relevant in 2023. 2023 CDFI Sustainable Investing Trends. Protecting and restoring biodiversity under the Convention on Biological Diversity (CBD) has been on the agenda since 2020. Another trend in sustainability that's gaining traction in restaurants is eco-friendly packaging. However, the need to bring citizens and workers on board with the climate-action agenda will remain a challenge. Empowering senior teams to identify opportunities for growth and transformation. The USA's Securities and Exchange Commission (SEC) has . Growing Sustainable Beauty Trends for Emerging Brands in 2023 Environmental catastrophes are becoming more frequent, so stricter regulations, such as extended producer responsibility (EPR), and waste management and recycling policies, are expected to be seen in more markets to channel efforts towards governments long-term sustainable targets. In the longer term, this will likely lead to increased adoption of new types of energy and fuels. In 2023, we believe sustainability initiatives could be tested by persistent inflation and economic uncertainty. Carlos Cordon, Professor of Strategy and Supply Chain Management. These trends are expected to impact a wide range of stakeholders, from companies, investors and workers to communities, regulators and policymakers. New regulations drive sustainability strategy. Can development organizations, governments, firms and private financial institutions work together with the humanitarian sector to fill the gap? Top Sustainability Trends of 2023 - Glimpse In the wake of the plastics treaty milestone, a new committee on chemicals was also set up. What Recent Trends Say About Sustainable Shopping In 2023 - Forbes Nevertheless, we think companies will be pressed in 2023 to invest more resources into managing the resilience and sustainability of their supply chains in the face of a more rigorous regulatory landscape governing corporate responsibility around the impact on human rights. Firms are advised to get ahead of the game and start accounting for biodiversity. How do you incentivize the C-level and senior managers? Top Digital Sustainability Trends In 2023 April 25, 2023 Digital signage and sustainability: a thorny relationship Eco-conscious digital signage Power consumption awareness Improved energy efficiency For many years the word "sustainability" was used more as a PR stunt by companies than a wide-ranging concept of their operation. Dedicated to the advancement of knowledge on world competitiveness. That said, we believe developing countries can only sustain so much debt to finance rising losses and lost revenues from physical climate risks. With most models still at an experimental stage, a tougher challenge is spreading solutions globally. 1. Instead, boards need to understand their own true personality around ESG and then evolve the board composition in that direction whether it is climate change, next generation, social justice, or diversity concerns. We are the independent guide to sustainability, helping our audience cut through the noise and supporting them as they achieve sustainability goals and reach outcomes with actual business value. Economic recovery after the pandemic has not been as fast as expected, while the Russian invasion of Ukraine has put extra pressure on consumer and business budgets due to supply chain and energy disruptions. ArtificiaI Intelligence, and specifically certain deep learning models such as those designed to process human language, requires huge amounts of energy. So it is urgent to accelerate our progress towards this objective. When: April 28 Where: Cambridge, Mass., and virtual Cost: $12.51-$138.43 Where to register: https://sustainabilitysummit.mit.edu The MIT Sustainability Summit is a student-run event to demystify carbon markets for aspiring and current leaders. It is not a question of whether, it is a question of when. Apr 26, 2023 (3BL Media via . Board members and top executives can make a choice today between just complying with the new standards and using this one-time change in mandatory reporting as an opportunity to prioritize sustainability even more as a key component of their strategies. 2022 was a hot year for the climate. Social Sustainability: The cost-of-living crisis intensifies, but offers opportunities for more-inclusive climate action. Knut Haanaes, Professor of Strategy and Lundin Chair Professor of Sustainability. These price increases are leading to renewed interest in, The global market for consumer health continues to be influenced by the pandemic, leading to tepid real growth in 2022. 2. Build your core leadership skills, accelerate your career and harness your full potential as a leader. Firms around the globe are shifting their focus on sustainability from talk to action. Since 2019, the number of people affected by food shortages has more than doubled to 345 million, roughly 4% of the world population, from 135 million, as reported by the World Food Programme. 10 Trends That Will Define Sustainability in 2023 - LinkedIn Apr 26, 2023 (The Expresswire) -- 2023-2030According to our Latest Research,Sustainability Reporting Software . The global trend of green buildings continues to rise even today. 5 Major Sustainability Trends For 2023 - GoSquared Blog In June 2021, the International Organization of . Top Emerging Trends of Sustainability in 2023 and Beyond With challenges such as global economic, The pandemic, cost-of-living crisis and high inflation continue to have an unprecedented impact on affluent consumers, their wealth, and their shopping habits. 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. First, the world is searching for new solutions. According to new NielsenIQ survey data, 46% of consumers are looking to brands to take the lead on creating sustainable change. COP27 has confirmed the need for stronger co-operation on key issues such as climate finance and corporate net-zero commitments. 2023 Post-filing season update; Electric vehicle federal tax credit rules tightened as of April 18, 2023; Given the current challenging economy, it is essential that companies keep abreast of sustainability trends as they evolve, and understand the direct impact on business performance to remain competitive. Here are the top 5. Economist Impacts Martin Koehring highlights why stronger collaboration will be required to accelerate progress in 2023, Head, World Ocean Initiative & Senior Manager, Sustainability at Economist Impact. However, the continued lack of a global climate finance taxonomy remains a challenge to bringing transparency and comparability to the space. However, companies need to back-up their announcements and messages on certified claims, considering upcoming stricter regulation, as governments and savvy consumers are demanding transparency and accountability. Consequently, many companies introduced new incentive structures, benefits, workplace culture initiatives (flexible work, DEI strategies and efforts to improve work-life balance) and career development opportunities to promote the employee experience and better attract and retain talent. 4 Sustainable Travel Innovations Shaping the Future of the Tourism This includes swapping packaging materials . Therefore, communicating sustainability through specific claims will still open up opportunities for companies to penetrate and improve their positioning in 2023. Second, we are investing. The human element of sustainability | Deloitte Insights The sustainability trends in 2023 are predicted to plunge beyond eco-friendliness. Foodservice innovation drivers in 2023 include health and wellness, nostalgia, sustainability, and a desire for adventure. Five key ESG Credit Trends for 2023 identified by Sustainable Fitch: 1. They then write down all the things they can influence and achieve in the upcoming meeting, placing those post-it notes on the opposite wall. They place them all on the wall, acknowledging and accepting them. Firms are advised to get ahead of the game and start accounting for biodiversity. April 13, 2023. This will continue in 2023 as prioritizing efficiency and waste reduction remains on the leading edge of industry trends and innovations. This shift has been fueled by increasing energy insecurity, rapidly changing regulatory and reporting standards, and investor appetite for environmental, social and governance (ESG) performance. With Scope 3 emission regulations on the rise, organizational leaders have realized the competitive value of connected data to track, report, and reduce climate impact. Economies and nature are interconnected. Join Team IMD. According to the REN21 renewable energy community, we globally invested $366bn in renewables in 2021 alone. In 2023, we think continued geopolitical turmoil, persistent inflation, looming recession and worsening physical impacts of climate change will create new tensions between managing near-term risks and making meaningful progress on longer-term sustainability goals. By understanding and implementing these 2023 sustainability trends, restaurants can stay ahead of the curve . 6 trends that will shape sustainability in 2023 | News | Eco-Business Insights on Sustainability Article Toward a more orderly US energy transition: Six key action areas January 12, 2023 - The US drive to decarbonize is at an inflection point. Yet collaborations are difficult to orchestrate as they demand systemic changes in clear contrast with the linear and profit-driven mindset prevailing in business. Many companies will see an opportunity to accelerate the green energy transition, and the plans that were put in place before the war in Ukraine, as renewables become more cost competitive. Therefore, 2023 will be crucial in building on the agreement by 175 countries in 2022 to establish a legally binding treaty to end plastic pollution. By next year, IDC analysts predicted a quarter of organizations worldwide will demonstrate responsible leadership by increasing their sustainability-related digital technology spend by more than 25% from 2022 levels. As new sustainability disclosure standards come into effect around the globe, stakeholders will have to grapple with the complexity and potential challenges regarding alignment of these initiatives. There is an urgent need for private capital to enter frontier markets to help solve systemic grand challenges. In 2023, we think broader market conditions will continue to influence GSSSB issuance. One simple exercise can be powerful in creating a more inclusive, productive environment. Data in your Equity, Inclusion & Diversity strategy: friend or foe? Although Forrester analysts expected at. These include Scope 3 emissions, those which do not come from their own operations but from their larger value chain. We believe that dynamic could change as companies adjust in the face of economic uncertainty and changing labor market dynamics. By Jonny Bierman. Some facts are encouraging: So, there is a real case for a glass half full view on climate. Beyond capturing new markets, transforming your business towards sustainability is also a way to address changing customer and investor needs, as well as to attract and retain talent. In a recent Gartner survey, CEOs reported that environmental and social changes are now a top three priority for investors, after profit and revenue. Stphane J.G. Though geopolitical conflicts, inflation and the effects of climate change continue to pose risks to supply chain operations, there are indications that the supply chain disruptions of recent years may be easing. Harnessing collaboration to enable the circular economy, Successful examples include multi-stakeholder platforms like the. The goal is to agree on a post-2020 global biodiversity framework that builds on the Strategic Plan for Biodiversity 2011-2020. We also note that some regulators and central banks have already made the case as to why and how financial institutions should respond to rising risks and biodiversity losses. Sustainability Trends 2023 | Predictions for Business, People, B2B & B2C In this context, practical solutions that can accelerate progress on the SDGs will be urgently needed. Susan Goldsworthy, Affiliate Professor of Leadership, Communications and Organizational Change. Ocean-related climate solutions will be crucial to making progress on global climate and nature targets in 2023, following the 2022 UN Ocean Conference.
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