Updated January 25, 2024
Sustainability is a dynamic field with new trends and initiatives emerging at an ever-increasing pace. For decades sustainability was little more than a marketing and public relations buzzword, but 2024 may prove to be the year that sustainability comes of age.
The urgent need for action is being driven by an unmistakable warming trend. Last year was the hottest year on record in the hottest decade in history. To make matters worse, the global heating trend appears to be accelerating. This heat is fueling dangerous feedback loops and driving extreme weather events all around the world.
Sustainability is a bulwark against climate change, as well as many other environmental and social ills. Sustainability mitigates against risk and positions companies to thrive in increasingly difficult environments.
Emissions reduction efforts were catapulted to the top of the agenda at the end of 2023. This is due to the agreement reached at COP 28. The groundbreaking deal includes calls to transition away from fossil fuels this decade and zero them out by mid-century.
Companies are coming under growing scrutiny as the scientific evidence fuels demands for greater accountability. This is a clarion call for corporations as the woeful lack of action to reduce carbon dioxide (CO2) and other greenhouse gas (GHG) emissions logically necessitates an increasingly stringent regulatory regime. Companies must prepare to reduce their exposure and their emissions. Embracing sustainability is a way to curtail their GHGs and mitigate against a wide range of threats. This includes everything from supply chain disruptions to accusations of greenwashing.
On the upside, the 2024 edition of MSCI ESG Research’s Sustainability and Climate Trends to Watch, indicates that the low-carbon energy transition will drive both opportunities and innovation.
DISRUPTIVE TECHNOLOGICAL INNOVATION
Technological innovation is a salient driver of change. Here are 6 disruptive technological innovations that will impact the sustainability landscape in 2024.
Carbon capture and carbon dioxide removal
Carbon capture (CC) and carbon dioxide removal (CDR) are destined to play an ever-increasing role in our efforts to draw down CO2. Although these technologies cannot come close to zeroing out emissions on their own, they are a much-needed adjunct to phasing out fossil fuels. Almost all climate models agree that negative emissions technologies are required to meet the goals laid out in the Paris Agreement (keeping temperatures below 1.5 C- 2 C above preindustrial norms). These technologies are expected to gain unprecedented traction in 2024 as they begin to be exponentially deployed.
Renewable energy
The shift towards renewable energy sources, such as solar and wind power, continues to grow alongside technological innovations that enhance efficiencies. The combination of government legislation, subsidies, tax breaks, tax credits, political pressure, and consumer demand are all driving the growth of renewables. The COP 28 agreement at the end of 2023 adds to the already considerable impetus. One hundred delegates at COP 28, including the world’s wealthiest nations, agreed to triple renewable energy capacity this decade.
Renewable energy has been growing rapidly in recent years. The EU derived more than 22 percent of its energy from renewables in 2022 and by 2030 that number will almost double to 42.5 percent. In the US the Inflation Reduction Act (IRA) and other legislation are driving renewable energy growth. China is also forging ahead with significant investments in renewable energy so much so that the country’s non-fossil electricity generation now exceeds 50 percent of the total installed capacity.
According to the International Energy Agency (IEA), in 2023 renewable energy grew by 50 percent, which is faster than at any point over the last two decades. Last year was the 22nd consecutive year of record-breaking additions to global renewable capacity and 2024 is expected to continue this trend. The IEA predicts that global renewable energy power generation will exceed 4,500 gigawatts in 2024, which is equal to the amount of electricity generated by fossil fuels. Led by Europe, India, and the US, hydrogen energy will also become a larger part of the renewable energy mix in 2024.
Nuclear power
Nuclear power is an excellent complement to renewable energy and a necessary part of the world’s low-carbon power mix. Nuclear is a far cleaner energy source than fossil fuels, and contrary to the wealth of public misinformation, it is also much safer. There are several different approaches to generating nuclear power, including small modular reactors (SMR), but the most promising form of abundant, clean nuclear power is the yet-to-be-realized energy derived from fusion.
The IEA reports that in 2022, nuclear power capacity increased by about 1.5 GW globally (a 0.3% increase year-on-year). Wood-McKenzie predicts that as a key solution to the world’s energy crisis, nuclear power will win widespread support in 2024. An International Atomic Energy Association (IAEA) report anticipates that installed nuclear capacity will more than double by 2050 to 890 gigawatts of electricity (GW(e)) compared with today’s 369 GW(e).
Electric vehicles
Decarbonization through electrification in the transportation sector is at the heart of sustainability. As an alternative to fossil fuel-powered combustion engines, electric vehicles (EVs) are an essential technology. This includes electric bikes, cars, trucks, ships, and planes.
According to the IEA, the share of electric cars in total sales has more than tripled in three years, from around 4 percent in 2020 to 14 percent in 2022. There was a 40 percent increase in EV sales in 2023. There were 3 million electric vehicles sold in 2020, 6 million in 2021, 10 million in 2022, and 14 million in 2023. Bloomberg called the rise of EVs “staggering” saying they expect to see annual sales of 27 million EVs in 2026.
Water treatment
Water is an important sustainability issue, this includes issues surrounding access, management, and supply chains. Efforts to reduce consumption and improve efficiency will be ongoing and technological solutions to wastewater treatment are expected to garner considerable attention in 2024.
THE RISE OF ARTIFICIAL INTELLIGENCE
Artificial intelligence is a major disruptive technology that will transform business and drive change in 2024 and beyond. Its impacts will be pervasive, and this includes meaningful contributions to all five of the disruptive technologies listed above. As reported by Axios, “Generative AI has put tech back at the top of business agendas.”
AI will help businesses build resilience and achieve their sustainability goals. AI will not only help firms improve energy efficiency, but it will also help them to respond to the daunting task of complying with new regulatory frameworks and reporting standards.
As we gain access to more data and develop AI-driven algorithms, we will generate a wealth of actionable insights. AI will provide information and management guidance on a large assortment of interrelated environmental, social, and ethical issues.
According to an MSCI report, “The widespread adoption of AI is reshaping our work landscape and transforming how companies deliver value. Issues like forced labor and deforestation, once relegated to ethical considerations, are suddenly turning up as regulatory risks with serious financial implications.” Companies are far from realizing the power of this technology, as two-thirds of executives report being either ambivalent or dissatisfied with their organization’s AI progress.
As an Illustration of the extent of AI’s utility, studies show that it can help us achieve all 17 of the UN’s Sustainable Development Goals (SDGs). Companies have increasing access to a flood of information and AI will help them to collate, analyze, and prioritize this data. Better data and better analysis will improve both risk assessment and compliance.
SUPPLY CHAIN SCRUTINY
In 2024, AI is being used to analyze and optimize supply chains. AI will help businesses track the emissions generated throughout their supply chains (scope 3 emissions). AI-assisted carbon management software platforms will help businesses track and identify inefficiencies that can be translated into actions. It will also help them to manage the increasingly rigorous supply chain demands they are facing from regulators and investors.
The pressure to make supply chains greener and more resilient is forcing corporations to demonstrate an unprecedented degree of awareness. Firms are being held accountable for everything that happens throughout their supply chain. As explained by MSCI, due diligence is the law when it comes to supply chains. Companies must scrutinize their supply chains to address obvious risks and to ensure that they are not inadvertently supporting things like inequality, discrimination, and conflict.
Companies are increasingly looking to reduce adverse impacts by putting pressure on their network of suppliers. Supply chain analysis is also essential to build resilience by identifying risk vulnerabilities like disruption, shortages, and quality fails. Gaining a comprehensive understanding of supply chains can be a complex and burdensome task but collaboration has been found to facilitate the process.
COLLABORATION IS KEY
Cooperation is the key to solving some of the world’s most intractable sustainability problems and collaboration is even better. Similarly, businesses that combine their resources and research expertise with others will achieve more than they could on their own.
The urgency of the situation we face calls for cross-sector collaboration to research, develop and deploy sustainability-focused technologies. Industries, governments, and civil society must transcend traditional boundaries and come together to share expertise and resources for the public good. In 2024 we will see new alliances between NGOs and the private sector to forge solutions to a wide range of social and environmental problems.
GET READY FOR REGULATION
Companies need to prepare for regulatory changes that could impact everything from supply chains and production costs to market access. According to Tom Beagent, a partner in PwC’s sustainability business, 2024 is going to be a demanding year as new regulatory regimes come into force. It is important to understand that corporations brought this upon themselves. “We’re seeing these regulations come through because there hasn’t been enough action,” Beagent said.
New laws and regulations are redefining the sustainability landscape. As reviewed by IMD, regulatory shifts will drive responsible corporate conduct in 2024. Corporations will not only need to increase ambition they will also need to provide reporting transparency that will make it much harder to conceal greenwashing.
The EU has new regulations (Green Claims Directive) aimed at ensuring the veracity of green claims in advertising. There are also efforts to increase reporting transparency and due diligence requirements. Accountability in environmental and social responsibility are the order of the day in the EU. This is due to the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD).
Regulatory agencies like the European Sustainable Finance Disclosure Regulation (SFDR) and the US Securities and Exchange Commission are also engaged in efforts to provide greater clarity. California is working on a regulatory regime called the California Climate Corporate Data Accountability Act, which is like Europe’s CSRD. Another California bill will require companies to disclose their climate-related financial risks.
We are seeing international standardization efforts, and this means that corporations must understand evolving compliance demands that are taking shape all around the world. Businesses need to build out the skills and expertise to comply but to be proactive, they also need to be able to anticipate and prepare for forthcoming regulations. Staying ahead of the rapidly shifting regulatory landscape is crucial to maintain competitiveness.
THE NEW REALITY OF TRANSPARENCY AND REPORTING
Transparency is the cornerstone of the new business reality and disclosure through reporting is how this is achieved. More and more businesses are becoming increasingly transparent with integrated reporting of financial and sustainability reports. Internally, reporting contributes to better decision making which can translate to measurable improvements. However, reporting is a complex task that requires company-wide involvement.
To promote greener practices and sustainability innovations, the EU Carbon Border Adjustment Mechanism (CBAM) now requires importers to report emissions. Starting in 2026 CBAM will require importers to declare annual import emissions that link prices to EU ETS allowances.
While disclosure is essential, it is not enough to simply report. In 2024, companies will be using reporting data to identify actionable insights. According to the MSCI, regulators are targeting “action alongside disclosure”. They point to the growing number of jurisdictions that have inculcated the International Sustainability Standards Board’s (ISSB) disclosure standards and reporting rules into their local regulatory frameworks.
More companies will rely on the Taskforce on Climate-related Financial Disclosures (TCFD). These disclosures provide information that highlights challenges, identifies action opportunities, and provides guidance for these actions. TCFD also prices financial risks and financial impacts related to climate change.
These new standards make it much harder to conceal malfeasance in 2024. Companies that opt to forego voluntary public reporting are vulnerable in several ways. One of these vulnerabilities involves the availability of independent data collected through technological means like satellite and geospatial data. Case in point, ADNOC the UAE’s state-owned oil giant, which does not report its flaring emissions, was exposed for releasing 2.5 million tons of CO2 by independent sources.
CLIMATE MITIGATION AND ADAPTATION
Climate concerns like carbon accountability are at the very top of the sustainability agenda in 2024. That means efforts to reach carbon neutrality and net zero are no longer just buzzwords, they are key metrics. Slashing emissions is the order of the day and what cannot be cut must be addressed with quality offsets like CC, CDR, and NCS.
Urgent action is required to both reduce climate change-causing emissions and adapt to the impacts of a warming world. So, in addition to mitigation efforts, there is a growing recognition of the need to build resilience through climate adaptation strategies that can cope with the unavoidable impacts of climate change.
Companies will come under increasing pressure to both radically slash emissions and adapt to a changing climate. This is attributable to decades of corporate inaction and unrelentingly rising levels of global emissions. As explained by Mr. Beagent the failure to reign in emissions will intensify corporate pressure to adopt adaptation strategies. As succinctly stated in the MSCI report, “Adaptation is becoming a must”.
EMBRACING BIODIVERSITY THROUGH NATURE POSITIVITY
While climate action is the highest priority sustainability agenda item, it is followed by a growing focus on biodiversity and nature. This year will see unprecedented efforts to minimize adverse impacts on natural environments and initiatives that support biodiversity.
According to the World Economic Forum (WEF) Global Risks Report, biodiversity loss is ranked as a top five threat to humanity in the next decade. This will be the year that nature positivity surges as a priority and companies must try to figure out exactly what this means and how it can be measured.
Interest in biodiversity conservation is increasing as companies and organizations are recognizing the importance of biodiversity. It is increasingly clear that we need to reverse our destructive trajectory and embrace the realization that biodiversity is intimately connected to the full range of sustainability challenges which includes global warming, climate impacts, extreme weather, and water scarcity. Initiatives to address biodiversity loss include habitat conservation, sustainable land use, and efforts to protect endangered species.
The prioritization of nature comes in the wake of the U.N. Kunming-Montreal Global Biodiversity Framework which is committed to reverse biodiversity loss by 2030 and achieve full recovery by 2050. One of the things that emerged out of this summit is the Task Force for Nature-Related Financial Disclosures (TNFD) which enables companies to assess, disclose, and manage nature-related risks and impacts on nature.
The EU has passed regulations focused on preserving nature and biodiversity. “Momentum is growing in favor of nature-positive corporate strategies,” said Adrian Dellecker, IMD Senior Researcher & Writer. The EU’s CSRD will compel over 50,000 companies to disclose the impact of their operations on nature. Dellecker points out that in 2024 many companies are also putting together nature-related targets with the Science-Based Targets Network.
As reviewed by MSCI, nature and biodiversity have emerged as priorities, “sustainability-oriented investors are asking how to minimize harm to ecosystems or how to contribute positively to nature-based solutions.”
More attention is being paid to nature and biodiversity due to the catastrophic possibility of collapse. Nature is fundamentally intertwined with the economy. According to the WEF, more than half of the world’s economic output is dependent on nature.
NEW ROLES FOR BOARDS OF DIRECTORS
Boards of directors will be instrumental in addressing the growing complexity of information management including overseeing the corporate shift toward nature positivity. Boards have been increasingly focused on ESG oversight in recent years and they will be called upon to address even more complex interrelated issues in 2024 and beyond.
Both MSCI and IMD indicate that board oversight will have an expanded role in 2024. They must assess the risks and opportunities as well as engage external stakeholders. To effectively address compliance and other issues, board members will need upskilling in areas like carbon reporting software and AI.
Boards will be called on for strategic input, but AI oversight is a major challenge as there is insufficient data to guide best practices. Despite this dearth of information, boards must also help to develop internal AI ethics policies.
An IMD article on sustainability trends cites a report by Deloitte and the Alliance for Board Diversity which found that underrepresented groups now compose almost half (47%) of the board members of Fortune 500 companies. While boards may be more important than ever, board diversity may be set to reverse in 2024 due to the absence of evidence supporting the impact of board diversity on environmental performance. The Deloitte study’s co-author Ivan Miroshnychenko, Research Fellow and Term Research Professor of Family Business and Sustainability concluded that diverse boards were more likely to greenwash than less diverse boards.
THE PURSUIT OF SOCIALLY RESPONSIBLE CORPORATE CULTURE
Social issues are an important, albeit sometimes overlooked dimension of sustainability. In 2024 social concerns will be a growing consideration. According to IMD, “Sustainable business models, where profitability converges with societal impact, will drive entrepreneurship and innovation.“
In recent years there has been meaningful action on issues like modern slavery. The social journey starts by listening to the concerns of stakeholders. This allows a firm to identify and embed initiatives into a supportive corporate culture. This can in turn be scaled by AI and assessed with relevant social metrics.
The focus on social issues is holistic and includes employee’s mental health, inner development, and personal growth, all of which have been shown to contribute to organizational success. Inner Development Goals (IDGs) are the adjunct to the SDGs, and they are positioned at the intersection of personal and societal advancement. The IDGs five pillars (Being, Thinking, Relating, Collaborating, and Acting) foster individual growth while encouraging personal action that contributes to social advancement. The IDGs focus on a better more sustainable future is intended to spur individual transformations alongside corporate transformations.
There is also a need for companies to respond to stakeholders’ demand for authentic social engagement and consumer’s demands for more equitable products. Both consumers and investors support socially responsible brands.
Historically, the unwieldy complexity of social engagement has led corporations to provide financial or material support without really understanding what it means to be socially engaged. This has introduced an element of reputational risks when, for example, these efforts make a firm vulnerable to accusations of greenwashing.
Companies are getting socially engaged in creative ways. Art is a powerful medium that can help people to connect with social issues. It can render complex messages in a way that is often more accessible than words.
UNSTOPPABLE ACTIVISM
Corporations will need to listen to the growing calls from civil society to act on the polycrisis. Corporate leadership cannot afford to ignore the large and growing number of people and organizations calling for change. From environmental and social activism to court challenges, businesses can expect to be subjected to intense pressure to align themselves with societal values.
According to IMD, CEOs will continue to speak out in 2024. Corporations often feel compelled to address issues. In the US, CEOs took a stand against the NRA, and Corporate America often publicly opposed Donald Trump when he was president. They also spoke out against the Trump-led insurrection on January 6th, 2021. However, in our highly polarized environment, taking a stand comes with the risk of alienating those who do not share the expressed values. The CEOs who try to play it safe by keeping a low profile will alienate consumers and businesses that are demanding that their values be reflected in the leadership of the products and brands they support through their purchases.
Many CEOs realize they must play the long game and do the right thing. That means they must align themselves with the kind of values that will eventually win the day, even if they risk losing market share in the short term.
DEFENSE OF DEMOCRACY
Corporations have emerged as defenders of democracy and this trend will continue in 2024. When Republicans advanced efforts to undermine voting rights in 2021, corporate America defended democracy and opposed the GOP’s voter suppression efforts. Today, American businesses are leery of Trump’s presidential bid because they see him as a threat to democracy. This has led many corporations to support Trump’s challengers.
In addition to shaping market environments corporations are increasingly called to shape non-market environments. Companies must manage geopolitical volatility and the risks that come with it. With 50 elections taking place around the world in 2024, democracy will take center stage in the coming months.
Researchers Vanina Farber and Patrick Reichert, expect corporations will support democracy and democratic institutions in earnest this year. Farber is an elea Professor of Social Innovation and Dean of the IMD EMBA program and Reichert is the Term Research Professor at the IMD elea Center for Social Innovation. They indicated that they expect “businesses to act as a catalyst for democracy” in 2024.
As they wrote in a recent IMD article on sustainability trends: “The private sector will increasingly promote healthy, sustainable democratic systems. Corporate citizenship entails a commitment to ethical business practices and active participation in the well-being of communities and societies. This shift is not just altruistic; it’s becoming a strategic imperative. Sustainable democracies are good for business: a strong foundation of the rule of law reinforces the confidence of businesses to make long-term investments, knowing their property rights will be respected and their contracts enforced.”
Companies are beginning to understand that there is tremendous value associated with preserving social peace and resolving disagreements without violence. Confronting threats to democracy is not only about aligning with the values of the majority, it is also good for business. Authoritarianism anywhere is a threat to businesses everywhere, and when authoritarianism rears its ugly head in the wealthiest and most powerful democracy on Earth, corporations cannot afford to be silent. The destabilizing prospect of a return to Donald Trump as president of the United States will compel many business leaders to speak out in defense of democracy and the rules-based international order that has kept the peace for more than a half-century.
THE PERSEVERANCE OF ESG
Environmental Social Governance (ESG) has been maligned by the GOP in the US, with Republicans casting aspersions on ESG and describing it as a ‘cancer’. However, CEOs are pushing back against this false narrative. As reported by Change Oracle, Mars CEO Poul Weihrauch told the Financial Times the politically motivated attacks on ESG are “nonsense” arguing that purpose and profit are not enemies.
Despite the Republican culture war attacks in the US, companies are placing ever more emphasis on integrating ESG factors into their business strategies. This is because stakeholders increasingly see ESG as being synonymous with ethical and responsible operations. According to Mark Greeven, Professor of Innovation and Strategy, IMD and CEO of IMD China, ESG is big and getting bigger all around the world.
According to Peter Vogel, we will see ESG proliferate in every setting in 2024 including family offices. Vogel is a Professor of Family Business and Entrepreneurship, Director of the Global Family Business Center, and Debiopharm Chair of Family Philanthropy, at IMD.
Vogel says increasing interest in ESG is attributable to a desire to secure a sustainable future as well as capitalize on emerging opportunities. The key lesson, according to Vogel, “is to be all-in on core beliefs and be ready for flack. Stand by them and you will benefit in the long run.”
GETTING WITH THE CIRCULAR ECONOMY
When developing strategies to address the problems we face, we cannot avoid the realization that these efforts are hindered by some intractable, deeply rooted elements within our economic system. Deeply embedded structural weaknesses in the free market system make it exceedingly difficult for us to live within the Earth’s carrying capacity.
As an alternative to the dysfunctional aspects of the current economy, many have proposed a circular economy. Such an economic model reduces waste through reuse, recycling, and refurbishing products. It minimizes the use of raw materials and decreases environmental impact.
According to Julia Binder, Professor of Sustainable Innovation and Business Transformation, circular business models are profitable, impactful, and transformative. Binder sees circularity as the next step beyond mere regulatory compliance. This paradigm-shifting approach represents the logical evolution of sustainability.
Binder cites research by Bain & Company, in collaboration with WEF, which indicates that there is a growing urgency among business leaders to embrace circularity. This study indicates that business leaders strongly support circularity to both increase revenue and mitigate risk.
We have already seen elements of circularity in the European Commission’s Circular Economy Action Plan and the IRA in the US. In 2024 more businesses will adopt circular business models in pursuit of both profits and impact and this will augur a transformative paradigm shift.
BUILDING BOLD SUSTAINABILITY STRATEGIES
Except for a relatively small number of pioneers, the early days of sustainability were more about public relations and marketing than sincere efforts to deliver measurable results. Things are changing as forward-looking companies are taking a more serious, results-focused approach to sustainability.
“In the dynamic business landscape of 2024, future-ready firms will position sustainability at the core of corporate strategy.,” IMD wrote. In 2024 cosmetic efforts won’t cut it. Firms that make lofty claims without providing credible strategies will be vulnerable, and this exposure is pervasive. While many make net zero claims, the CDP found that only 7 percent of companies have a credible strategy to get there. “It’s no longer good enough to just have a net-zero commitment, there’s a need to give confidence that you know how to achieve it,” Beagent said.
Victoria Kemanian, Director of the Business Transformation Initiative, at IMD, says sustainability must be at the core of the strategy. Incrementalism is insufficient, she wrote adding: “Forward-thinking leaders recognize that weaving sustainability into strategy is not just a choice – it is imperative for building resilience and winning in the long run.”
As reviewed in a NESTE article on sustainability trends by Ashley Winchester, a bold strategy is taking shape that will challenge the status quo in 2024.. “To tackle society’s greatest challenges, there needs to be a reboot on how corporations, governments, and consumers approach sustainability,” Winchester wrote. She supports her argument by pointing to the Sustainable Development Goals Summit in New York where the need for a radical transformation was clearly articulated.
Winchester uses the term “disruptive sustainability” which was defined by a 2023 Research Policy paper as a “fundamental shift in business models of production and policies while addressing environmental, social and economic sustainability challenges. These kinds of sustainable practices require a complete departure from the established ways of doing things, beyond incremental innovations, to innovations that disrupt intertwined systems and can lead to more sustainable outcomes.”
Such a bold sustainability strategy will not only disrupt current business models and value chains, it will also radically change every aspect of our lives including the way we think, act, work, and do business.
CONCLUSION
Sustainability does not exist in a vacuum; it is unfolding in the context of significant geopolitical volatility and uncertainty. Efforts to address a broad spectrum of issues from environmental crises to social polarization are taking place against the backdrop of the specter of authoritarianism and violent conflicts.
Although there is reason to believe that 2024 will be a watershed year for sustainability, there are many ways that this evolution could be delayed. The bullish prognosis for sustainability in 2024 could be derailed by an expansion of the wars in Europe and the Middle East or if Donald Trump were to win the US presidential election in November.
One of the most significant underreported threats to sustainability is unfolding in the US Supreme Court. If, as some anticipate, the so-called Chevron Deference precedent is struck down, it will upend the entire American regulatory regime. Under such a ruling, agencies like the EPA would not be able to act without the approval of the judiciary or lawmakers who do not possess the requisite expertise. Divesting government agencies and departments of their discretionary power would imperil tens of thousands of protections that keep Americans safe.
Barring such major upheavals, forward-looking companies will address climate concerns, move toward nature positivity, and tackle social issues. They will leverage AI, ESG, and circularity and readily collaborate. They will assemble capable boards of directors to create and oversee an effective, integrated, cohesive sustainability-focused strategy that produces measurable results.
Embracing sustainability is about mitigating risks, building resilience, and increasing profits, but it is also about creating a culture with a deeply embedded sense of environmental and social responsibility.
Sustainability is about addressing existential threats, so this is a pivotal moment. After dithering for decades, more future-looking corporations than ever are poised to begin heeding the call to be proactive rather than reactive.
Although not every company can be Patagonia, every company can embrace sustainability in earnest. There was a time not too long ago when sustainability was just a buzzword, but in 2024 inculcating sustainability into business strategy is an imperative that no business can afford to ignore.
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