According to the new article from eco-business.com, these are 5 trends influencing sustainability in 2024.
1. Heightened call to protect workers amid latest wave of AI innovations
Generative AI, like ChatGPT, is stirring discussions on significant job displacement, with about 300 million jobs at risk. In the Asia Pacific region, a survey showed concerns about job obsolescence, reflecting a growing moral emphasis on protecting workers’ rights and the potential emergence of a “human-as-premium” label for artisans, highlighting the need to support workers in the era of increasing AI adoption.
2. EV fast tracking in developing Asia
China leads in EV sales, constituting a quarter of the global market, while Hainan province aims to phase out traditional vehicles by 2030. Despite challenges in affordability and charging infrastructure, developing nations like Thailand, Indonesia, and India are independently fostering their EV industries, with initiatives such as tax breaks, subsidies, and aggressive investment strategies, backed by a growing number of EV owners and government schemes.
3. Scope 3 disclosure in the spotlight
Companies face rising expectations to disclose both direct and Scope 3 emissions, driven by increased global coverage in emissions targets. New legislation, including standards from the International Sustainability Standards Board, is prompting proactive measures for transparency and sustainability, with heightened scrutiny anticipated in 2024.
4. Guidance away from greenwashing.
According to Mintel’s Crabbe, as corporations integrate climate adaptability into their practices, trust and reassurance become crucial aspects of ESG initiatives. A significant 74% of surveyed individuals in Asia Pacific expect brands to lead in addressing environmental issues and climate solutions, emphasizing the need for transparency from companies in detailing their sustainability efforts, including reducing waste and supporting ethical organizations
5. Will election fever in Asia impact the sustainability agenda?
Despite upcoming national elections in 40 countries, a quarter of which are in Asia, observers anticipate that new administrations will likely maintain similar climate change policies as their predecessors. In Indonesia, while outgoing leader Joko Widodo’s successor is expected to continue the ban on nickel ore exports, concerns arise as none of the candidates openly address the environmental impacts and threats to communities from the downstream nickel industry. Similarly, in India, observers believe that despite promises for clean energy, elections are unlikely to bring significant reforms for coal.
If there are other trends that we have missed, feel free to let us know.
And, don’t forget. Let’s join with us for a greener tomorrow!
