Post by account_disabled on Mar 4, 2024 3:15:44 GMT -5
The prolonged coronavirus pandemic continued to force seismic changes in public policy and business behavior. It caused major fixes in the financial system and altered the way companies reacted to the impacts of climate change, generating new 2022 sustainability trends.
Ahead of this year's COP26 climate conference in Glasgow, more than 1,000 companies had committed to adopting science-based targets to reduce emissions in line with the goals of the Paris Agreement. At the historic summit, governments and companies presented more promises and ambitious decarbonization plans.
However, these governments and companies Chile Mobile Number List have given few details about how they plan to meet their climate commitments. Throughout the year, greater transparency will need to be driven to ensure that promises are matched by real actions. The main outcomes of COP26 are expected to influence climate action.
According to Eco-Business, seven major trends will shape companies and society in 2022. We share them with you
Sustainability trends 2022
1. As zero emissions promises become fashionable, data disclosure must continue
Stock exchanges around the world have sought a larger role in pushing companies to decarbonize.
The United States is considering mandating disclosure of climate risks, with its Securities and Exchange Commission drafting a rule by the end of the year. The UK said it will introduce mandatory climate-related financial reporting for the first time.
Sustainability trends 2022
In Asia, the Singapore Exchange unveiled guidance to make climate reporting mandatory in sustainability reports, while Japanese regulators are considering imposing climate risk reporting requirements from April 2022.
India and China have already developed mandatory reporting standards, while most Southeast Asian countries recommend companies report their emissions, although the requirements are not mandatory.
An improvement in mandatory reporting is expected in Asian markets next year as regulators strive to streamline ambiguous reporting, said Diksha Mishra, environmental, social and governance ( ESG ) policy specialist at the asset manager. Arabesque. These information gaps are often a consequence of a lack of legal requirements, she added.
Regulation pushes companies to make information available to a broader public, but pressure also comes from various stakeholders , including consumers.
Sustainability outreach requires global collaboration in which everyone plays a role.
Diksha Mishra, environmental policy specialist.
2. Zero-emission companies' promises will be put to the test
Advances in regulation will force companies to start taking their net zero emissions targets seriously, exposing those that make empty promises.
An analysis published in October revealed that a fifth of the world's 2,000 largest publicly traded companies have committed to adopting a net-zero strategy. However, the report also revealed that many of these companies do not account for the emissions produced by their supply chains or rely on unreliable strategies to offset their carbon output.
The nonprofit, UN-backed Science Based Targets Initiative (SBTi) is helping companies translate the goal of the Paris Agreement into concrete action, accrediting only companies that have serious carbon mitigation plans. , to eliminate the greenwash.
It will require companies to first compile a comprehensive inventory of their direct emissions (Scope 1), indirect emissions from purchased electricity (Scope 2), and emissions from suppliers and end users (Scope 3). .
Next, companies must develop a concrete plan and detail how they will report on the emissions reductions that will bring their company in line with the level of decarbonization necessary to keep global temperature rise below 2 degrees Celsius, in comparison with pre-industrial temperatures.
Most companies will need to deep decarbonize between 90 and 95 percent to reach net zero under SBTi standards.
3. The regulatory tide is moving towards strengthening the ESG “S” factor
Regulators are proposing clearer measurements of the “S” or social factor in ESG .
Germany adopted a new supply chain law requiring companies to ensure human rights standards at all levels of their supply chains. The United Kingdom provided a clear methodology for calculating the pay gap between its male and female employees.
The year 2021 also saw the launch of a single European access point, a centralized platform that allows access to public information on financial services. The resulting impact will likely extend to companies based in Asia.
In 2022, Australia's Modern Slavery Act will come into force, requiring government agencies and local councils to take reasonable steps to ensure that the goods and services they purchase are not the product of modern slavery.
COP26 broke ground in strengthening social issues by adopting a historic agreement in which more than 100 world leaders committed to ending and reversing deforestation by 2030.
This would not be possible without strong consultation with farmers on the ground, said Pat Dwyer, founder and director of The Purpose Business, a Hong Kong-based sustainable business consultancy.
Ahead of this year's COP26 climate conference in Glasgow, more than 1,000 companies had committed to adopting science-based targets to reduce emissions in line with the goals of the Paris Agreement. At the historic summit, governments and companies presented more promises and ambitious decarbonization plans.
However, these governments and companies Chile Mobile Number List have given few details about how they plan to meet their climate commitments. Throughout the year, greater transparency will need to be driven to ensure that promises are matched by real actions. The main outcomes of COP26 are expected to influence climate action.
According to Eco-Business, seven major trends will shape companies and society in 2022. We share them with you
Sustainability trends 2022
1. As zero emissions promises become fashionable, data disclosure must continue
Stock exchanges around the world have sought a larger role in pushing companies to decarbonize.
The United States is considering mandating disclosure of climate risks, with its Securities and Exchange Commission drafting a rule by the end of the year. The UK said it will introduce mandatory climate-related financial reporting for the first time.
Sustainability trends 2022
In Asia, the Singapore Exchange unveiled guidance to make climate reporting mandatory in sustainability reports, while Japanese regulators are considering imposing climate risk reporting requirements from April 2022.
India and China have already developed mandatory reporting standards, while most Southeast Asian countries recommend companies report their emissions, although the requirements are not mandatory.
An improvement in mandatory reporting is expected in Asian markets next year as regulators strive to streamline ambiguous reporting, said Diksha Mishra, environmental, social and governance ( ESG ) policy specialist at the asset manager. Arabesque. These information gaps are often a consequence of a lack of legal requirements, she added.
Regulation pushes companies to make information available to a broader public, but pressure also comes from various stakeholders , including consumers.
Sustainability outreach requires global collaboration in which everyone plays a role.
Diksha Mishra, environmental policy specialist.
2. Zero-emission companies' promises will be put to the test
Advances in regulation will force companies to start taking their net zero emissions targets seriously, exposing those that make empty promises.
An analysis published in October revealed that a fifth of the world's 2,000 largest publicly traded companies have committed to adopting a net-zero strategy. However, the report also revealed that many of these companies do not account for the emissions produced by their supply chains or rely on unreliable strategies to offset their carbon output.
The nonprofit, UN-backed Science Based Targets Initiative (SBTi) is helping companies translate the goal of the Paris Agreement into concrete action, accrediting only companies that have serious carbon mitigation plans. , to eliminate the greenwash.
It will require companies to first compile a comprehensive inventory of their direct emissions (Scope 1), indirect emissions from purchased electricity (Scope 2), and emissions from suppliers and end users (Scope 3). .
Next, companies must develop a concrete plan and detail how they will report on the emissions reductions that will bring their company in line with the level of decarbonization necessary to keep global temperature rise below 2 degrees Celsius, in comparison with pre-industrial temperatures.
Most companies will need to deep decarbonize between 90 and 95 percent to reach net zero under SBTi standards.
3. The regulatory tide is moving towards strengthening the ESG “S” factor
Regulators are proposing clearer measurements of the “S” or social factor in ESG .
Germany adopted a new supply chain law requiring companies to ensure human rights standards at all levels of their supply chains. The United Kingdom provided a clear methodology for calculating the pay gap between its male and female employees.
The year 2021 also saw the launch of a single European access point, a centralized platform that allows access to public information on financial services. The resulting impact will likely extend to companies based in Asia.
In 2022, Australia's Modern Slavery Act will come into force, requiring government agencies and local councils to take reasonable steps to ensure that the goods and services they purchase are not the product of modern slavery.
COP26 broke ground in strengthening social issues by adopting a historic agreement in which more than 100 world leaders committed to ending and reversing deforestation by 2030.
This would not be possible without strong consultation with farmers on the ground, said Pat Dwyer, founder and director of The Purpose Business, a Hong Kong-based sustainable business consultancy.