Five ESG Trends for 2023 that you must know

23/03/2023

Boletines

As the representative and leader of the World Business Council for Sustainable Development (WBCSD) in Spain, Forética presented its 2023 report of ESG Trends. The report highlights five key trends for the Business Sustainable Agenda, that will help companies anticipate future challenges and be ahead of the trends in sustainable transition.

Antonio Budia, President of Forética’s management board says that “2023 represents a challenging year concerning the speed of adoption of sustainable goals in enterprises and organizations. Furthermore, there is a challenge about the adaptive capacity and resilience that the companies need to capture the opportunities that will emerge” specially due to the impacts of actual macroeconomic context, geopolitical crisis and social polarization, that will affect the focus on ESG implementation. (Las cinco tendencias ESG que marcarán la agenda de sostenibilidad en 2023).

This document detached the next 5 points:
1. The moment of truth. This is the first time that the Sustainable Agenda faces “winter”. Inflation, Ukraine war, and the greenwashing might represent a decrease in the progress to generate a prosperous model of life for the 8 billion people in the world, and an obstacle for Sustainable Development Goals.
2. From Buy-In to the Deep Within. Sustainability must be a priority for CEOs around the world but now, they must focus their actions on financial challenges with a more mature and integrated decision-making for achieving better solutions.
3. There is no Net-Zero without Nature-Based actions. Ecosystems are the protagonist in mitigating climate change; we can’t reach success by losing nature. In 2023 biodiversity, freshwater, ground, oceans, and atmosphere will be the center of strategies with coordinated cross-cutting approach.
4. Reasonable expectations. Sustainability can help in retaining and developing talent. Companies play an important role within the social axis. This is why, their adaptation to innovative work models after the COVID-19 pandemic, the green transition and digital transformation, are crucial to confront a wider responsibility to cope with social crisis.
5. Scope 3, The value chain. ESG assessment are skewing regulatory standards for supply chains aimed to increase the quality of data reported in frameworks that assess the protection of human rights and adaptation to new trends.

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Check out the complete report here:

https://foretica.org/wp-content/uploads/2023/01/Tendencias_ESG_2023.pdf.