Monthly Sustainability News (December)

Hello!

The end of the year is always a time for reflection and evaluation of what's been achieved. It's also when we begin to set targets for the forthcoming year.

With that in mind, I thought it apt to focus this newsletter on the top ESG trends for 2024. If you have additional ideas, please share them in the comments below.

As always, you'll find a roundup of positive environmental news from around the world in the section below. This month, this includes the historic Global Renewables and Energy Efficiency Pledge adopted at COP28, EU support for strengthening the largest marine protected area in the North Atlantic Ocean, the launch of the Nature Target Setting Framework for Asset Managers and Asset Owners, the signing of the Global Cooling Pledge, and WWF’s launch of its new Oceans Futures platform.

I value your feedback: let me know your thoughts and suggestions at [email protected] (or simply reply to this newsletter).

Top ESG trends for 2024 ??

As a new year begins, your company has the opportunity to establish fresh goals and targets, as well as improve risk and compliance management.

Integrating Environmental, Social, and Governance (ESG) aspects into your operations can enhance your strategies, policies, and goals - leading to increased competitiveness, and an improved reputation, and can unlock new business models and markets.

Here are some of the key ESG trends predicted for 2024:

?? The race to be climate-neutral and climate positive

Increasingly, companies of all sizes are feeling the pressure to decarbonise and take steps to transform business as usual towards being climate positive.

?? Reporting on companies’ impacts and reliance on nature

Businesses are starting to move beyond an intense focus on achieving climate neutrality, towards taking a more holistic view of their impacts and reliance on nature and how they can use nature-based solutions to restore biodiversity and also mitigate their climate impacts.

?? Sustainable and transparent supply chains

Investors and consumers are increasingly demanding that supply chains are transformed to be more sustainable and transparent, which is driving changes in how companies procure, manage and design products and services. And as reporting requirements become more stringent, this trend is set to increase.

?? Increased collaboration throughout supply chain networks

To enhance supply chain transparency, accountability and sustainability, businesses are expected to increasingly collaborate with their supply chain partners to find ways of adopting more sustainable practices, and to gather data for enhanced sustainability reporting.

?? The rejection of greenwashing

Greenwashing is being increasingly exposed, which can have detrimental implications for companies seen to be misrepresenting their environmental and sustainability claims. Many companies are therefore likely to reformulate their marketing and communication strategies and to take steps to disclose and reduce their sustainability impacts.

Positive eco-news from December ?

December has been a month full of positive eco action around the globe! Below are some of the most exciting news stories and happenings from around the globe.

COP28: More than 110 nations commit to tripling renewable energy capacity by 2030

A historic Global Renewables and Energy Efficiency Pledge was adopted at COP28 by over 110 countries to triple global renewable energy capacity by 2030.

What I found particularly positive about the text of this pledge is that countries that support it commit to working together, collaboratively. This includes reaching a global installed renewable energy generation capacity of 11,000 GW by 2030 - and collectively doubling energy efficiency improvements by 2030.

However, what’s needed now is transformational action to reach these goals to create the shifts needed to change energy systems around the world to be more sustainable.

Biodiversity: EU supports strengthening of largest marine protected area in the North-East Atlantic

Spanning 4,5 million square miles, the largest marine protected area (MPA) in the North-East Atlantic has increased its conservation objectives to protect the seabed, biodiversity, marine habitats and several critical marine ecosystems.

European Commissioner for Environment, Oceans and Fisheries at the European Commission , Virginijus Sinkevi?ius , said that “by protecting and restoring seabird populations, marine biodiversity and the integrity of the seabed and ecosystems, we take an important step towards fulfilling our commitment to protect at least 30% of the sea by 2030. This is critical to protect global marine biodiversity and enhance its resilience to climate change.”

FfB Foundation launched the nature target setting framework for asset managers and asset owners

The Finance for Biodiversity (FfB) recently announced the launch of the Nature Target Setting Framework for Asset Managers and Asset Owners during a webinar with David Cooper of the UN Biodiversity .

This framework aims to help investors set nature targets that align with the Global Biodiversity Framework and reverse biodiversity loss by 2030.

It has been developed in collaboration with other organisations like the Science Based Targets Network (SBTN) and the United Nations Environment Programme Finance Initiative (UNEP FI) . It currently applies to listed equity and corporate bonds, with more asset classes to be added in the future.

Countries sign voluntary Global Cooling Pledge at COP28

The Global Cooling Pledge was signed by 66 national governments from around the world at COP28 last month.

The aim of this voluntary commitment is to reduce cooling-related emissions across all sectors through energy efficiency and climate-friendly approaches. This relates to cooling for the refrigeration of food and medicine, as well as for air conditioning.

The pledge targets reducing these emissions by at least 68% globally relative to 2022 levels by 2050. It also hopes to increase the efficiency of new air conditioners by 50%.

Good news: Plants are absorbing more human-produced CO2 than expected

A new study led by Dr. Jürgen Knauer from the?Hawkesbury Institute for the Environment?at Western Sydney University, shows that plants may be absorbing more CO2 than expected.

This may signal good news in terms of the Earth’s capacity to mitigate or slow down climate change, along with accelerated action to implement ambitious emission reduction activities.

WWF launches Oceans Futures program to predict climate-driven fisheries conflict

WWF has launched a new platform called Oceans Futures, which aims to identify seascapes that may experience conflict and food insecurity in the future due to climate change-related fisheries migration.

The goal is to use science-based data about fisheries migration to proactively pinpoint areas that require coordinated action to both conserve marine ecosystems and prevent conflicts, as competition for dwindling fish stocks increases.

Thank you for reading this month's edition of Sustainability in Action!

It's been a momentous year of positive sustainability action for companies around the world. As you take stock of 2023 and look forward to the new year, I hope that these newsletters continue to provide you with ongoing inspiration.

Stay tuned for more updates and insights in future newsletters. Together, we can make a difference and create a more sustainable world.

— JB

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