In many ways, 2020 was an eventful year, from raging wildfires to a pandemic. On top of that, well-being and work changed as well. The past 12 months will have long aftermath that will continue even after covid-19. Below are the greatest sustainability trends in 2021 that all sustainability / CSR professionals should be aware of.
The Urgency Of Climate Change
The wildfires in Australia have destroyed much. Soon after, severe storms and tropical cyclones tormented Asia, and the U.S. 2020 was a year of extremes: floods, prolonged heat. It destroyed businesses, lives, and property. The threat of climate change is a fact and has urgency. Of Americans, 81 percent now agree that the earth's temperature is rising. COVID-19 has intensely changed the way we work and live.
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Investors Have Started To Revisit Risk
Larry Fink, chairman, and CEO of Blackrock, wrote a letter to fellow business leaders in January. He indicates that people increasingly recognize that climate risk is proportional to investment risk. This realization changes the way investments are made. Society, environment, and good governance (Environmental, Social, Governance, ESG) are becoming core requirements for many investors. This leads to new opportunities for people, services, and products that boost the planet.
Consumers Now Expect Purpose to Outweigh Profit
The concept of purpose-led business has been popular for years but has reached a tipping point in 2020 due to Generation Z and millennials' increasing economic influence. In 2020, 40 percent of all consumers were millennials. And another 40 percent of them (according to Deloitte research) believe that a business should contribute to society. The influence of millennials is enormous.
Photo by Heamosoo Kim Unsplash
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The Corporate World Wants To Take Lead In Climate Policy
Consumer demand, combined with the genuine impact of climate change on production, distribution, and supply chains, creates a new interest among companies to make their voices heard, both in public and business.
Sustainability Goals Are Now Firmly Established in Science
The Science Based Targets initiative (SBTi) partnered with the CDP, the U.N., the World Wildlife Find, and the World Resources Institute in 2020. This collaboration has the ambition to applaud and inspire companies engaged in climate science.
More Support Than Ever For Meeting The Sustainable Development Targets
In 2030 is the deadline for the U.N.'s 17 SDGs. There are many resources available for individuals and companies who want to pick up their knowledge of the goals and move forward to meet these ambitious goals. SDG Academy is at the top of the list. This is an online platform with free educational materials put together by some of the world's leading sustainability experts. Also, it includes the SDG Action Manager, a free tool that allows you to assess your performance against the SDGs.
Social Justice At The Top of the Agenda
According to a study (2020) by top consulting firm Porter Novelli, 71 percent of 150 executives said they have never felt so much pressure to engage in social justice issues. For example, the Black Lives Matter movement has sparked a global debate about diversity, discrimination, inclusion. Besides, the pandemic has also publicized wide disparities in access to health care in the U.S.
Not every company has managed to strike the right chord (take a look at five that worked and five that did not), but last year the need to take action when it comes to social justice rose. According to LinkedIn, the demand for workplace diversity expertise is a fast-growing position.
The Concept of 'Wellbeing' Got A New Meaning
Individual health and well-being were also on the agenda for COVID-19. The pandemic caused instability and stress, and distance among teams. The duty of care between employers and employees took on a whole new dimension, especially mental health.
...Just Like The 'Workplace'
Because of COVID-19, most of us are working at home. That seems temporary, but the pandemic's impact on how and where we work seems likely to continue. According to one study, it is plausible that 34 percent of jobs in the U.S. could be permanently performed at home.
Sustainability and Social Impact Experts Have Never Been in More Demand
A study showed that 88 percent of top executives fully understand that they need to lead with purpose now more than ever. Indeed, there has never been a better time to be a professional in the field of social impact and sustainability.
Cover photo by Unsplash
Before you go!
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