Industry news
1.MeetingsOn December 28, Huang Runqiu, Minister of Ecology and Environment, presided over an executive meeting of the Ministry to review and approve in principle the technical guidelines for the compilation of integrated emission inventories of air pollutants and greenhouse gases, the revision list of three national ecological and environmental standards such as the "Emission Standards for Pollutants in the Petroleum Refining Industry", the "Technical Specifications for the Acceptance Model Method Based on Manual Monitoring for the Analysis of Particulate Matter in Ambient Air", and the "Technical Specifications for the Disclosure of Environmental Protection Information for Motor Vehicles".Quoted from:: The Ministry of Ecology and Environment held an executive meeting of the ministry).
2.MeetingsOn December 28, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Ecology and Environment, and the Ministry of Transport jointly issued the Action Plan for the Green Development of the Shipbuilding Industry (2024-2030), which pointed out that the formation of a green ship genealogy supply capacity will be accelerated. Implement the standardization and leading project of green and intelligent ships, optimize and upgrade the LNG-powered ship types of large ocean-going ships, accelerate the research and development of methanol and ammonia-powered ships, explore the development of new power ship types such as fuel cells, and form a series of green ship brand products. Quoted from:: Five departments released! )
3.ReportingOn December 28, 2023, the China Academy of Information and Communications Technology (CAICT) released the Research Report on the Green and Low-Carbon Development Path of Industry in the New Development Stage (2023) at the results conference of the "2024 CAICT In-depth Observation Report". Quoted from:: The China Academy of Information and Communications Technology (CAICT) released the Research Report on the Green and Low-Carbon Development Path of Industry in the New Development Stage (2023).
4.Meetings(On December 27, the "2023 Financial Associated Press Enterprise ESG Forum and the Launching Ceremony of the 'ESG Influential 50 Forum' Forum" hosted by the Finance Associated Press and the All-China Environment Federation, and undertaken by the Institute of Political Science and Economics of the Finance Associated Press and the ESG Special Committee of the All-China Environment Federation" was held in Beijing.) Experts and scholars from various fields gathered together to conduct in-depth analysis and analysis of a number of hot topics in the ESG field. Quoted from::2023 Finance Associated Press Corporate ESG Forum Ended iSoftStone Won the Sustainable Development Value Communication Award).
Today's view
ESG Trends Prediction of the top 10 sustainability trends for 2024
1.A harmonized global standard for sustainability disclosure is emerging
The development of global sustainability disclosure has been driven by the International Sustainability Standards Committee (IFRS-ISSB) and the European Union's European Sustainability Reporting Standards (ESRS). A number of ** including Hong Kong, Canada, the United Kingdom, Singapore, Australia and Brazil have announced plans to adopt sustainability disclosure rules that are somewhat consistent with the ISSB.
2.The importance of natural capital is growing in height
COP28 underscored the importance of actively protecting the natural environment to achieve net-zero emissions. The Task Force on Nature-related Financial Disclosures (TNFD) has developed a detailed set of disclosure recommendations and guidance to better report and address nature-related dependencies, impacts, risks and opportunities. Click here to learn more about TNFD's recommendations and information in preparation for nature-related disclosures management in 2024.
3.Measure KPIs related to key indicators related to water footprint
Water footprint has become one of the key indicators to measure biodiversity risks across sectors. Stricter regulations on water consumption and permitting requirements are on the horizon, such as the National Development and Reform Commission's (NDRC) Opinions on Further Strengthening the Protection and Intensive Use of Water Resources.
4.The expansion of the carbon pricing mechanism is imminent
Carbon pricing is playing an increasingly important role in both mandatory and voluntary markets.
5.Increased risk of ESG-related litigation
China and the European Union have each declared higher sustainability-related litigation risks and imposed clear fines for environmental crimes.
6.ESG-related investment product name rules are more stringent
In 2024, more regulators will tighten the rules on investment product names that use ESG-related terms, such as those proposed by the European Union, the United States, the United Kingdom, Australia, etc. The new rules will require those whose designations imply an investment focus on ESG or sustainability-related factors** to invest at least 80% of their asset value in those factors.
7.The rules for ESG rating methodologies have become clearer
Regulators are actively seeking to impose stricter restrictions and requirements on ESG rating agencies.
8.COP28's commitments are being translated into action
Accounting for non-carbon greenhouse gas emissions such as methane (CH4). Methane, the main component of natural gas, is responsible for one-third of the global warming we see today.
9.*Chain due diligence is gaining traction
Organizations across the globe are taking action to address environmental risks and ensure ethical practices in the chain. Negotiators in the EU Parliament and Council have agreed on a new EU Corporate Sustainability Due Diligence Directive, which will apply to EU and non-EU companies with a turnover of more than 1500 million euros, as well as small companies in industries such as textile manufacturing, agriculture, mineral resources and construction.
10.Transition finance supports the development of renewable energy globally
The global energy transition is accelerating, creating a wealth of investment opportunities for investors.
Source: ESG Trends Top 10 Sustainability Trends for 2024