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illuminem summarizes for you the essential news of the day. Read the full piece on ESG today or enjoy below:
🗞️ Driving the news: Deloitte's 2023 report highlights a significant increase in sustainability investments among organizations over the past year, amidst global uncertainty
• The report, drawn from over 2,000 CxO respondents across 24 countries, places climate change as a top priority, ranked just below the economic outlook
🔭 The context: The shift in focus towards sustainability comes as companies face direct impacts from climate change, including resource scarcity and regulatory changes
• This has led to increased sustainability actions, such as using sustainable materials and developing climate-friendly products. However, challenges like measuring environmental impact and the cost of sustainability efforts remain significant barriers
🌍 Why it matters for the planet: The emphasis on sustainability investments underscores a growing recognition of the importance of addressing climate change at the corporate level
• As companies ramp up their climate adaptation efforts, there's potential for significant contributions to a low-carbon economy and the broader fight against climate change
⏭️ What's next: The report suggests a continued effort towards closing the gap between ambition and impact, with a call for organizations to accelerate progress towards sustainability goals
• This includes enhancing sustainability information and disclosures to improve investor confidence and trust in these investments
💬 One quote: "The path to a more sustainable future will take time, it will require business investment, and it will be driven by new and innovative technologies, and creative approaches," says Deloitte Global CEO Joe Ucuzoglu
📈 One stat: 75% of CxOs stated their organizations have increased their sustainability investments over the past year, with nearly 20% reporting a "significant" increase
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