Climate Risk & ESG Risk

Top 5 Trends For Environment & Sustainability

Roshni Khatri

29th Mar'22
Top 5 Trends For Environment & Sustainability | OpenGrowth

“An environment is a place where every creature lives, nurtures and sustains".  Globalization and industrialisation has adversely affected nature. In short the economic development that we have achieved so far has come at the heavy cost of the environment. So it is essential for us to choose the path of sustainable development by considering the contribution of the environment in economic development. 

Pandemic has taught us about sanitization and the worth of the environment, so we should know about reducing the digital carbon footprint to have a keen atmosphere.

Environmental restoration helps in tackling the climate crisis, bringing new changes to society, industry and commerce. These changes have a significant role in reducing the damage to our environment and putting the right efforts to all those organizations which are liable for restoring the ecosystem. 

Environment Sustainability refers to saving the planet. It is a fact that “our planet has survived for several years before humans existed and it will survive after we are gone too”. In other words, sustainability is about saving ourselves and ensuring that our future generations will also reap it. So we have to preserve the natural resources for our future generations also. 

 

Environment Sustainability

Our planet is shared by all the creatures who live on it. We need the resources offered by nature like we need air to breathe, water to drink, plants to eat and wood to build the materials. Nature gives us several green renewable resources and energy resources also like fossil fuels, solar, wind, biomass, hydro and many more. 

If we consume these resources speedily then they won’t be available for future generations. So we have to use these resources sustainably. That’s what sustainability means as whatever we have today we have to maintain it for tomorrow also.

 

Top Five Trends for Environment Sustainability

2020, has been a tremendous year from the perspective of environmental sustainability. It marked the year of “The Decades to deliver” and also provided several opportunities to the global leaders to convene in Glasgow and New York to discuss climate actions. In 2020 many organizations fell short of sustainability targets. Besides this Travel ground to halt, many gatherings shifted to virtual meetings and companies made massive changes in their business and operations. In short, the pandemic accelerated us to meet our goal of low carbon transitions commitments. 

 

2021 was the year of green recovery, as there was a mass mobilization of sustainable capital and decarbonization technologies. So there were many sustainable values created by the industries and the companies. Here some prime trends of environmental sustainability which are opted in the modern era are described as under:

1. Organizations and Industries Will Move Towards The Change

In 2020, “Jean-Sébastien Jacques”, the CEO of the world’s largest mining company Rio Tinto Group resigned due to poor social and environmental performance. This shows that the corporations are publicly smeared for the poor designs or programs of corporate functioning. They are aware of the risk associated with climate change today and tomorrow. 

To have environmental sustainability the companies are setting science-based targets about the depth of transportation. The management of the companies is addressing the meaningful emission spanning in the supply chain. With this New offset markets are providing environmentally sustainable projects to meet the emission objectives. 

As far as Industries are concerned these are also following the CCUS (carbon, capture, utilization and storage) approach to reduce almost half of the emission reduction by 2050. This depends upon the successful progression of innovative technologies and development. 

Moving towards change

2. The Focus of Local Energy Solutions on Resilience and Affordability

In 2020, the pandemic had a significant impact on power systems. Energy consumption patterns changed dramatically as most of the people were doing work from home. Besides this, the adoption of electric vehicles, wind and solar power accelerated and changed the composition of our grid. Thus these sustainability trends are liable for the new reality of clean, reliable and affordable power. 

Besides this, Investments also play a vital role in environmental sustainability, as Investment in infrastructure is the key element to have clean and resilient projects ranging from transportation to natural capital. With this, electric vehicles are also the prime tool to reduce carbon emission effects.

3. Adopting Green Policies to Shift the Economy in Our Favor

Governments across the world have announced almost $12 trillion in stimulus funds by creating immense opportunities to accelerate the investments in green technologies, this will shift the cost of dynamics of transition. The cost of low carbon technologies will decline and the new rules, regulations and funds will accelerate the trends of sustainability and unlock the other frontiers. In short, the investments will accelerate the use of modern technologies, like solar power providing the cheapest electricity. With this, the global wind and solar capacity can increase by 70% in 2025. So the strategies of deep building retrofits, electric vehicles, infrastructure and clean technologies will improve the adverse environmental situation. 

 

4. New Sources of Financing 

In the technical era, businesses and investors see the growth in sustainable investment plans. The private sector will continue to fund the large-scale projects and this will unlock the emerging technologies. New start-ups are offering innovative contracts to address the capital barriers by delivering operational savings and expertise to optimize complex and non-core assets. 

This will enable the investors to allow the capital flow in these projects by realizing the sustainability benefits and increasing returns. Several big entrepreneurs are investing funds in decarbonizing areas to unlock the solutions that are critical to their decarbonization. Some leading corporations like Amazon, Microsoft and Delta are investing in the technology that will be helpful in their greener growth.

New sources of financing

5. Collaboration to Strengthen the Multilateralism

When the world was developing the Covid 19 vaccine, then transparency between the pharmaceutical companies and the government was seen. The government’s fund recovery efforts can be linked with the expert on climate and recovery as this will help in addressing the sustainability challenges and in achieving the sustainable development goals. With this, the collaborative partnerships provide the funding, scale and expertise to accelerate the progress on sustainable practices like carbon capture and green hydrogen.

So these partnerships and collaborations provide a framework to deal with the environmental challenges by craft contacts, innovation and communication. Thus by opting some innovative and latest trends we can create a sustainable environment for the future species.

 

Conclusion

Environmental sustainability is the core need of today’s era, as we have to survive and perform in this atmosphere. We must preserve the natural resources for future generations also, this can be done by adopting some sustainable working practices. Commercialization and industrialization have affected the environment disastrously, but by taking innovative steps, we can save the environment. A single step towards a sustainable environment can bring many benefits to the next species. 

You can protect the environment and preserve the resources by adopting the slogan “Go Green”! As it is our ethical and prime responsibility to not to violate the interest of the next generations.

For more environmental sustainability articles, stay tuned with us! 

 

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A keen observer, who loves to spend time with nature. A fun loving person, enjoys to explore the new aspects of life. Passionate about reading and learning new things. Roshni is dedicated towards her work and has worked in different professions.

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