In the 12th issue of our newsletter, we once again bring you numerous important ESG-related news, while in our green corner, we share the key findings from a report published by Deloitte. We are pleased to see that the report contains many encouraging updates. For instance, one of the highlights is that managers are starting to see more tangible benefits to their companies from the climate-related actions they are taking. This is explained by the fact that sustainability is becoming a driving force for new products, business models, and overall value creation.
The realization of its benefits serves as a stronger motivator for action than legal regulations, and this finding heralds that sustainability practices will continue to gain momentum on the agenda at an even faster pace.
We leave you now with our 12th issue.
Stay sustainable...
ESG NEWS
The Australian Senate has passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024, paving the way for a new era of mandatory climate risk disclosures. From 2025, large Australian companies (both public and private) will be required to disclose standardized climate-related information. This move is expected to be welcomed by investors as an important step towards transparency and accountability. DETAIL
Following over a year of record-high global sea temperatures, the Atlantic is now cooling faster than ever recorded, with the potential to impact weather patterns worldwide. However, no one knows the cause of this change. DETAIL
Sustainability rating company EcoVadis has announced its acquisition of human rights technology and analytics company Ulula. The acquisition aims to enhance the ability of organizations to improve human rights impacts across their supply chains and comply with new regulatory requirements.DETAIL
The European Securities and Markets Authority (ESMA) has observed a significant shift in investor interest towards investments that facilitate the transition "from brown to green" rather than focusing solely on green investments. ESMA noted that net inflows into transition-focused funds in the EU have nearly doubled the inflows into environmental funds over the past two years. DETAIL
Since 1970, the analysis of daily carbon dioxide emissions has revealed increasingly large emissions caused by higher energy usage during extreme weather events. In other words, humanity's efforts to cope with extreme temperatures are creating a vicious cycle, worsening the effects of climate change. DETAIL
Japan has taken a significant step in its energy transition by signing 70 Memorandums of Understanding (MOUs) with various partners. These agreements were signed during the ministerial meeting of the Asia Zero Emission Community (AZEC) in Jakarta, highlighting Japan's leadership in Asia's decarbonization efforts. DETAIL
Meta has published its 2024 sustainability report. The key findings under specific headings are as follows: Net Zero Emissions: Meta has achieved its net zero emissions goal since 2020 and aims to reach net zero across its value chain by 2030. Water Recovery Efforts: Meta's 18 projects have restored 1.5 billion gallons of water in high and medium-stress regions. Renewable Energy Leadership: Meta is the leading corporate purchaser of contracted renewable energy globally, with over 11.7 GW. DETAIL
GREEN COLUMN
DELOITTE 2024 CXO SUSTAINABILITY REPORT
The multinational consulting company Deloitte has published an important report: the Deloitte 2024 CxO Sustainability Report.
Following the release of the report’s findings, Deloitte’s Global Sustainability Business Leader Jennifer Steinmann stated that executives are starting to see more tangible benefits to their companies from their climate actions, and that sustainability is becoming a driving force for new products, business models, and overall value creation.
This is a question we encounter frequently as well. In Turkey, companies often ask what concrete benefits climate actions (or broader sustainability actions) will bring to their businesses. The fact that such tangible benefits are now being voiced by company executives could further support the rise in ESG-focused investments.
The key findings of the report can be summarized as follows:
Climate change remains one of the top three challenges for global senior business leaders (CxOs), surpassing other concerns such as political uncertainty, talent competition, and the risks associated with constantly changing regulations.
An important indicator of climate's prominence on leaders' agendas is that 85% of CxOs said they increased their investments in sustainability last year (compared to 75% in 2023).
Half of the leaders have already begun implementing technology solutions to help meet their climate goals.
92% of executives believe it is possible to reduce greenhouse gas emissions while growing their business, thus dispelling a major misconception.
45% of the companies involved in the study are transforming their business models and strategies with climate change in mind.
Key actions taken in 2024 to achieve sustainability goals include: 51% adopting more sustainable materials, 50% using technological solutions to achieve climate or environmental goals, 49% increasing energy efficiency, 49% directly purchasing renewable energy, 48% developing climate-focused products and services.
Areas where a push is needed to drive action include: 48% developing climate-focused products and services, 47% expecting specific sustainability targets to be met by suppliers and business partners, 46% restructuring operations and supplier infrastructure to ensure climate resilience, 44% lobbying or making political donations to support climate initiatives, 43% linking top leaders’ compensation to environmental sustainability performance.
Özgün Çınar, CEO
ABOUT US
Trasta ESG, is a consulting firm in Turkey that offers services such as gap analysis and sustainability consulting, providing businesses with the opportunity to determine their ESG score using a "Sustainability Assessment and Management Platform" designed according to international standards and tailored to different sectors.
Our motto is, "We are with you at every stage of your sustainability journey!"
You can explore our services in detail here and reach us through the links below.
