Let’s dive deeper into key sustainability trends of 2024, how these influence organisations and what they mean for SMEs, plus take a look at barriers and support available for growing enterprises.
Private sectors are now feeling increasing accountability in delivering and sustaining purpose-driven change in the economy. As echoed by top leaders at COP28 and Davos earlier this year, the world is reaching extreme temperatures with 2023 warming up +1.5C in average surface temperature compared to the pre-industrial 19th century. Businesses are therefore looking into innovative ways to amplify their impact in 2024.
(Source: ECMWF)
Reducing, reusing, and recycling doesn’t only sound great, but it also tackles climate change through minimizing waste and emissions, and maximizing resources. Take it one step further and you find circular partnerships that are rooted in a community of positive change. Partners could include other enterprises, governments, charities, industry bodies, and more. It could be collaborative competitors focusing on the overarching goal to create best sustainable practices, or alternatively, a partnership that symbiotically fills the product or service gaps that the other partner cannot fulfill. Forging circular partnerships complete product or service life cycles and has started shaping ESG strategies by:
Digital advancements in data monitoring and analytics have created real-time value on accurate carbon accounting and transparent reporting. Paired with the increasing influence of machine learning, digital initiatives can scale with generative AI by:
CapGemini Research Institute recently reported that 60% of organizations realize that sustainability goals can be achieved and even sped up through the transformative use of digital technology. In addition to environmental impact, the positives of digitalization flow through multiple organizational strategic areas.
(Source: The eco-digital eraTM by CapGemini Research Institute)
Climate technology has expanded beyond renewables to battery and energy storage, carbon capture, and alternative energy sources, such as biofuels. According to the World Economic Forum, “Three-quarters of business leaders see them as a key lever to decarbonize their value chains and create new industries and business models.” As the infrastructure for greener energy strengthens, the decrease in green premiums follows. Companies and individuals have capitalized on the reductions in renewable energy and hardware costs, which has greatly benefited them in delivering sustainability through:
The next step in this evolution would be to witness more direct commercial benefits by encouraging demand and investment into solutions complementing renewables, such as carbon capture and biofuels.
Have any further questions? Get in touch with our experts at hello@energise.com and they’ll be happy to help. We offer a range of social sustainability solutions which can be tailored to your requirements.
Written By Natasha Carlin 
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