Corporate sustainability in 2023
The trends that will characterize the sustainability landscape in 2023 and the actions to be pursued to align with the SDGs of the 2030 Agenda.
Despite ongoing geopolitical turmoil, persistent inflation and a looming recession, more and more companies are engaging in initiatives to promote sustainability, says Vocea Europei .
After all, adopting virtuous practices in line with the sustainable development objectives of the 2030 Agenda is essential for creating a positive image of one’s brand, favoring the attraction of new customers and the retention of existing ones. But also to promote a clear reduction in consumption and waste and obtain economic benefits that amortize investments in the long run.
Sustainability trends in 2023
However, as S&P Global Ratings reveals in its “Key sustainability trends that will drive decision-making in 2023” report , as new sustainability disclosure standards come into effect to mitigate the risk of misrepresentation ( greenwashing ), stakeholders they will face new challenges and complexities also in relation to the growing risk of ESG-related disputes.
Climate change and the exacerbation of its associated impacts, such as water scarcity and biodiversity loss , will dominate the discussions of policy makers, regulators, businesses and investors, with long-term climate goals potentially being reassessed to address short-term risks.
On the sustainable work front , the new forms of incentives and benefits introduced by companies such as smart working and diversity & inclusion could undergo a trend reversal if economic conditions continue to deteriorate and the resilience of the labor market decreases. At the same time, the more stringent regulatory landscape governing corporate human rights responsibility will force companies to invest more resources in the resilience and sustainability of supply chains.
New packages such as the US Inflation Reduction Act and EU REPower, to incentivize clean energy adoption and energy efficiency , could maintain the momentum of cleantech investment and ensure greater energy security for both countries and companies. The global sustainable bond market will return to growth, but will face major challenges as interest rate hikes abate and inflation risks persist and potential recession in some countries.
Promote sustainability in the company
There are numerous actions that companies can implement to reduce the impact of their activities on the environment and promote sustainable development. First of all, marry the circular economy with the 4R strategy, i.e. recycle, reuse, recover and reduce, which lengthen the life cycle of materials and objects. Another best practice consists in adopting sustainable mobility solutions to reduce pollution caused by CO2 emissions. In addition to car sharing , Micro Mobility focuses on the rental of light means of transport (scooters, bicycles or other small electric vehicles).
The Zero Emission Travel proposals are more innovative , whereby anyone using a means of transport can offset and neutralize the emissions produced by supporting an environmental programme. GreenPeace, which has been committed for years against plastic pollution and which collects reports on the presence of waste on WhatsApp and Legambiente, which brings together volunteers to free beaches and seabeds from abandoned waste, will take care of fighting marine pollution.
Every company can promote sustainability even with small daily actions, encouraging workers and collaborators to take such a path, such as the distribution of aluminum water bottles , to replace plastic bottles, or the reduction of paper consumption through the digitization of documents and of internal communications.