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Social impact trends that will affect Chief Impact Officers in 2024

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:

🗞️ Driving the news: In 2024, Chief Impact Officers are addressing new social impact trends, including collaborations among competitors for environmental and social justice, the emergence of retail circularity, stricter sustainability regulations, the rise of impact investing, and the ethical use of AI

🔭 The context: These trends are fueled by the increasing demand for corporate responsibility in environmental and workplace diversity matters
The incorporation of AI and regulatory mandates is reshaping corporate strategies

🌍 Why it matters for the planet: Initiatives like The Footwear Collective and WSL One Ocean represent a shift towards collective environmental stewardship
Retail circularity and regulations like the EU's CSRD are pushing for sustainable practices and transparency, aiding global sustainability efforts

⏭️ What's next: Emerging trends point to a future where environmental and social governance (ESG) factors are integral to corporate identity and investment strategies
With ESG funds predicted to exceed $53 trillion by 2025, accounting for more than a third of the projected $140.5 trillion in total assets under management, the focus on sustainable and ethical practices is expected to intensify

💬 One quote: "As practitioners, we should consider [regulations] catalysts for positive change to elevate our commitment to social responsibility," (Christina Beckman, Senior Manager of ESG at Culligan International)

📈 One stat: ESG funds are expected to exceed $53 trillion by 2025, representing over a third of the $140.5 trillion in total projected assets under management

Click for more news covering the latest on ethical governance

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