Before we discuss the sustainability trends shaping the business agenda in 2023, we wanted to reflect and take stock on the events of the past year. Every year has its defining events, but the last 12 months seemed to produce moments and issues of decadal if not generational consequence. Foremost among these, Russia’s invasion of Ukraine transformed geopolitics, economics, and sustainability, with the implications still playing out. In many ways, global societal interconnections and dependencies like social media and supply chains amplified the impacts of the invasion, particularly those relating to energy, food security, and migration inside Ukraine and beyond. Economic disruptions wrought by the war coupled with the highest inflation levels in decades further challenged government and business leaders. As 2023 begins, recession threatens, and societies are bracing for financial hardship after years of strong growth and low unemployment in many regions. Global and local corporations have been deeply affected by the war in Ukraine, its market impacts, and wider economic headwinds. This has forced the private sector to decide whether to fall back on fundamentals and lessen corporate sustainability efforts or whether ESG efforts should be maintained. While some companies have reduced sustainability activity and investment, more […]
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