?? Top 6 sustainability trends for 2024

???A decisive year for switching away from fossil fuels?

This year will be the chance to measure the impact the COP28's statement to "transition away from fossil fuels" really has.

Meanwhile, the trend towards more renewable energy will continue to grow in the coming years. 2023 was already a record year for countries like Germany and Portugal regarding the share of renewables in their energy mix.

The International Energy Agency (IEA) has published a report predicting that 2024 renewable energy generation capacity will exceed 4,500 gigawatts (equivalent to the power generated by China and the US). In addition , global demand for coal is expected to decrease by 2026. [read more ]

???All eyes on biodiversity?

Since 2022 and the Kunming-Montreal Global Biodiversity Framework at COP15, biodiversity loss has been in the spotlight.

And rightly so: 69% of monitored wildlife populations have declined since 1970. These alarming statistics are a stark reminder of the need for restoration and conservation efforts. It will remain a strong focus in 2024.

Biodiversity Net Gain is likely to gain attention in 2024. This regenerative approach means leaving the biodiversity in an even better state than before a development project even started. [read more ]

???Beyond greenhouse gas emissions

It is becoming increasingly clear that companies need to shift from a greenhouse gas-only perspective to one that fits within the planetary boundaries framework.

The scientific community is also sending strong signs to businesses. The Stockholm Resilience Centre’s recent article on a new reporting metric system, the ESI (Earth System Impact), exemplifies this growing momentum.

The aim is to develop an assessment tool that looks beyond GHG emissions and includes the forgotten interactions between climate, land, and water systems. [read more ]

?????Efforts against greenwashing

As sustainability advertising grows, so does greenwashing! The EU Green Claims Directive aims to set standards to replace misleading green claims with reliable and substantiated terms. Although it is unlikely to come into force until 2026, it is expected to be adopted in the next few months.

Meanwhile, the European Directive on empowering consumers for the green transition will likely come into force earlier and ban general environmental claims.?

Moreover, in Germany, for example, misleading claims are already subject to warnings under the Unfair Competition Act. In short, efforts to combat greenwashing are underway and will likely intensify in the coming months and years. [read more ]

???New reporting wave

2024 will be crucial for companies who have already been subject to NFDR. It is the year when everything will revolve around CSRD. [read more]

The regulation introduces five new features for greater digitalization, standardization, and review of the reports. Here are the conditions: the reports must comply with ten topic standards, a double materiality analysis, external and independent audit, standardized electronic and machine-readable format, and sustainability information as a mandatory part of the annual report.

?It is also a strategic year for other large companies, which must prepare to do the same as of 2025. [read more ]

???Human and environmental rights along the supply chain

The German Supply Chain Act came into force in January 2023. It will apply to companies with at least 1,000 employees in Germany from January 2024.

This law is an essential milestone in making companies responsible for their supply chain and, in particular, for their environmental and human rights obligations (e.g., against slavery, child labor, discrimination, etc.).

Specifically, companies will have to conduct regular risk analyses, implement preventive measures, take remedial action, and set up a complaint procedure. [read more ]

?? Last but not least – EVENT RECOMMENDATION

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