Sustainability: 2024 trends for companies

As evidenced by the Directive on the Attestation and Disclosure of Explicit Environmental Claims, adopted on 17 January 2024 by the European Parliament, companies attempting greenwashing will have to deal with stricter regulations. This directive sets clear and defined guidelines, as well as imposing sanctions on non-compliant companies. Companies will therefore have to demonstrate a real commitment to sustainability through concrete actions and verifiable, science-based data. From this consideration derive several stakes, much more restrictive than in the past.

From now on, in order to boast environmental claims such as 'environmentally friendly', 'animal friendly', 'green', 'natural', 'climate neutral' or 'eco', companies will have to provide evidence. They will have to do this within the same medium, e.g. the advertisement or the packaging of the product, and not refer to the website or to external references. The Directive only allows the use of expressions such as 'net zero emission' or 'carbon neutral' if they refer to the entire life cycle of the product: the mere emission compensation therefore no longer suffices. A concrete example is the following: it is forbidden to use generic environmental claims such as 'climate-friendly pack', but it is permitted to write that '100 per cent of the energy used to produce this packaging comes from renewable sources'.

In 2024 we will see an increase in the employment opportunities in the sustainability sector, with an expected duplication of jobs in the sustainability sector, marking a crucial moment in the global economy's sustainable transition process. The International Labour Organisation also predicts an exponential increase in this regard, with an estimated approximately 24 million new jobs by 2030. A trend further confirmed by the Green Italy 2023 report, which shows that in the five-year period 2018-2022, 510,830 companies made eco-investments. This is 35.1% of the total, or more than 1 in 3. The search for green jobs by companies is therefore on the rise. However, opening jobs related to sustainability does not automatically mean finding qualified people to fill them. LinkedIn points out that, globally, only one in eight employees possess one or more 'green' skills.

The Artificial Intelligence is a powerful tool that can be harnessed to address complex challenges related to sustainability. By 2024, we expect the application of AI in this area to expand significantly, optimising resource use and improving energy efficiency, thus contributing to significant reductions in environmental impact. In 2024, AI is expected to be increasingly used to simplify processes is data management ESG (Environmental, Social, and Governance). With the new directives on sustainability reporting, many companies will face the challenge of collecting and analysing huge amounts of data. AI-based ESG data management software can provide enormous support in these phases, ensuring accuracy, efficiency and compliance.

climate fintech, a powerful marriage of finance and sustainability, will be a crucial lever: climate fintech companies are introducing new sustainable investment opportunities, including green bonds, responsible investment funds and carbon reduction projects. The rise of climate fintech will be central in 2024 and represent a shift in companies' financial vision, increasingly integrating sustainability into the core of their business operations. This evolution marks a significant step towards a future where economic decisions and investments are in harmony with sustainability goals, positioning companies at the forefront of a rapidly changing landscape.

The new Corporate Sustainability Reporting Directive (CSRD) extends the scope and requirements of the 2014 Non-Financial Reporting Directive (NFRD). Entering into force on 1 January for large public interest companies with more than 500 employees, the CSRD will extend, within a year, to all other large companies that exceed two of the following three criteria: a number of more than 250 employees, a balance sheet of not less than 20 million per year and net revenues of at least 40 million. This impending legislative shift, which has expanded the range of companies required to disclose sustainability information, is requiring them to make significant strategic adjustments to be ready to fulfil their obligations under the law.

In a rapidly changing world, sustainability is no longer an option, but a necessity. That is why 3Bee created the Oasis of CSR, the network of sustainability professionals. An exclusive community of professionals united by a common goal: continuous ESG training and sharing of best practices and experiences in the field of sustainability. A real Sustainability Hub for companies, designed to offer concrete, daily and continuous support, thanks to 3Bee's technical team. A central point of the network is training, which takes the form of "Pills from the Oasis", the first online course dedicated to sustainability professionals. Structured in 12 modules, it covers a wide range of ESG topics, from climate crisis to sustainable finance. Access to the Oasis of CSR also includes 10 webinars, 2 physical events per year, dedicated newsletter and Telegram Group to receive updates on the latest industry news. Want to know more?