Let’s take stock of the year 2024

Abstract concepts have finally begun to take concrete form in political agendas and corporate strategies: from growing awareness of the urgency of climate change to the implementation of stricter regulations, the sustainability landscape has undergone a metamorphosis, revealing new challenges and opportunities for the future.

Regulation and Sustainability: How things are changing with CSRD

A key element of this transformation is presented from the entry into force of the Corporate Sustainability Reporting Guideline (CSRD)A law that has redefined and effectively introduced sustainability reporting requirements for a large number of European companies has made sustainability reporting mandatory for around 50,000 companies by 2026.

The CSRD is not only limited to expanding the range of subjects required to produce this important document, but also introduces higher standards in terms of transparency and detail of the information required, with a particular focus on: double materialityi.e. the impact of the company externally and vice versa.

This implies the need for companies to have one deep strategic adjustmentInvesting in tools and capabilities for ESG (Environmental, Social, and Governance) data management and compliance with the new European Sustainability Reporting Standards (ESRS).

Preparing sustainability reporting in accordance with the CSRD requirements represents a significant challenge for companies in all sectors. But it is true also a valuable opportunity Integrating sustainability into the core of company processes and transparently communicating its commitment to stakeholders.

From transparency to new professional figures: The development of the economy in a sustainable world

The sensitivity of consumers and institutional investors to environmental and social issues is constantly increasing, so companies are now required to make their commitment to certain issues clear. And if many have implemented it in the past unclear communication campaignsGreenwashing is now a real threat to a brand’s reputation.

2024 actually saw one Growing intolerance towards greenwashingwith consumers becoming increasingly more attentive and critical of companies’ environmental statements. Companies are therefore obliged to move away from general sustainability promises and turn to factual language based on concrete and verifiable data.

In addition, the growing complexity of sustainability issues has led to a strong need for skilled workers. The Sustainability managerdie ESG manager and other sustainability metrics have become resources for companies seeking to integrate sustainability into their strategies and operations.

Artificial intelligence has also taken a front-row seat, establishing itself as a valuable tool for tackling complex sustainability challenges. In particular, we witnessed one in 2024 increasing application of AI in areas such as optimizing resource use, improving energy efficiency and managing ESG data.

Sustainability beyond CSRD: other important trends for 2024

In 2024, other important trends in sustainability emerged, such as attention to Protection of biodiversity. In fact, the growing awareness of the importance of biodiversity to the health of the planet has led companies and governments to implement conservation measures and invest in nature-based solutions.

At the same time, there is a strong push from the institutions the circular economy. The transition from a linear to a circular economic model based on the reuse and recycling of resources has become increasingly important for companies’ sustainability strategies. Thanks to the activation of the coveted Transition Plan 5.0, which will free up new resources for companies that invest in reducing consumption and reducing the environmental impact of their production.

Even the urge to do so renewable energy sources has worsened, driven by the need to reduce dependence on fossil fuels and mitigate risks associated with the climate crisis. While reducing greenhouse gas emissions and adapting to climate change remain top priorities, the commitment of governments and companies to achieve the goals of the Paris Agreement is growing.

In conclusion we can say that dying The year 2024 marked a point of no return On the way to a sustainable future. Companies are called upon to embrace sustainability not just as regulatory compliance, but as an opportunity to innovate, create value and build a better future. The challenges are complex, but the opportunities that arise are equally important.