Sustainability Insider

Updates from Sustainability Knowledge Group

1. Chief Sustainability Officer (CSO) Professional Training

Elevate your career in sustainability as a certified sustainability leader! Join us in Dubai on 1-2 November for our globally recognized Chief Sustainability Officer (CSO) Professional training. Reserve your spot now!

Date: 1&2 November

Location: Dubai, UAE

This course will provide a holistic approach to all key areas of Sustainability, ESG and CSR, including current trends, challenges, standards, and strategies. Participants will gain the necessary skills to support their organization to use Sustainability as a competitive advantage and a tool to overcome business risks. They will benefit from our interactive approach focusing on practically applying Sustainability and ESG criteria across their organization. Our skill-building and hands-on approach assists participants to improve their capabilities and drive tested Sustainability solutions successfully across their organization.

To register:

2. Supply Chain Knowledge Toolkit

Sustainable Supply Chain is now an indispensable aspect of modern business. It encompasses strategies to minimize environmental impact, uphold human rights, and foster transparency. As global awareness of climate change, social equity, and responsible resource consumption grows, Sustainable Supply Chain has transitioned from a buzzword to a key driver of long-term success.

Explore 10 enlightening reports we have collected for you, that dissect the intricate world of sustainable supply chains. Gain insights into their management, global implications, business performance, and the dynamic relationship between production, consumption, and sustainability. Whether you're a professional, researcher, or enthusiast, this toolkit is your indispensable guide to ethical and resilient supply chains in our evolving world.

Sustainability News at a Glance

1. Carrots & Sticks

The Carrots and Sticks annual report 2023 offers a comprehensive analysis of the global landscape of Environmental, Social, and Governance (ESG) and sustainability policies. Since 2020, these policies have gained significant importance across various sectors, including governments, businesses, and international organizations. The report analyzes over 2,463 policies from 132 countries and 76 international organizations, providing valuable insights.

Key findings include the role of mandatory and voluntary policies, especially since the introduction of the Sustainable Development Goals (SDGs) in 2015 and highlights the level of enforceability of these policies.

Furthermore, it examines the focus on specific SDGs, targeted business sectors, and the dominance of environmental themes over social and governance aspects. The report identifies the increasing references to Global Reporting Initiative (GRI) Standards in policymaking.

This report is a valuable resource for stakeholders looking to understand the evolving ESG and sustainability policy landscape and its impact on businesses and policymaking.

2. DEWA, in Cooperation with Microsoft, Adopts New Generative AI Tool

DEWA, in collaboration with Microsoft, embraces cutting-edge generative AI tools as part of its commitment to leveraging global technology for digital transformation. Microsoft Power Platform Copilot assists DEWA's software developers in creating efficient, smart programs and applications, aligning with Dubai's vision to become the world's smartest city.

This initiative accelerates DEWA's digital infrastructure investments, enhancing stakeholder satisfaction through advanced digital services. Copilot supports developers by offering contextual code suggestions, guidance, and error corrections to streamline development processes.

3. CDP to Align with ISSB Climate Disclosure Standard in 2024

CDP, a leading climate research and environmental disclosure platform, will harmonize its sustainability reporting questionnaire with the ISSB's climate disclosure standard in 2024. This step aims to simplify reporting for companies and promote wider disclosure of environmental concerns. CDP's global environmental disclosure system assesses organizations' performance in areas like climate change, deforestation, and water security. The ISSB's climate disclosure standard, launched in 2021, seeks to establish a global baseline for sustainability disclosure. CDP also plans to integrate other sustainability reporting standards, such as the TNFD framework and the SEC's upcoming climate disclosure rule.

4. How TCFD and the GHG Protocol are Driving ESG Regulations

The shift from voluntary to mandatory ESG (Environmental, Social, and Governance) disclosure in the United States and Europe is on the rise. Regulatory changes like the SEC's proposed climate disclosures, California's Climate Accountability Package, EU's Corporate Sustainability Reporting Directive (CSRD), and the UK's Climate-related Financial Disclosure (CFD) regulation are driving this transition. These regulations share common roots in reporting frameworks like TCFD and GHG protocol.

5. Germany Proposes Subsidizing Energy to Heavy Industry

Germany is considering electricity subsidies to support its heavy industry while requiring recipients to commit to decarbonization and staying in the country. Under the proposal, eligible companies would receive electricity at 6 cents per kilowatt-hour for 80% of their consumption until 2030, requiring up to 30 billion euros in state funds. This move is welcomed by the industry but faces opposition from policymakers, economists, and EU concerns about unfair competition. Germany's energy subsidies may require EU approval and could conflict with the EU's decarbonization plans for heavy industry. The situation adds uncertainty for businesses making long-term plans.

We appreciate your commitment to sustainability. Thank you for being a part of this journey. See you soon in the next edition of our newsletter!