In recent years the role of sustainability has changed from one focused largely on environmental concerns to a major driver of overall business strategy. With the rise of ESG-focused investment trends globally, boards, shareholders and other key stakeholders alike are increasingly expecting responsible investing across all sectors and sustainable practices must now be embedded in all economic activity. This need has arisen from a number of factors, including new compliance requirements, consumer demand, pressure from investors, operational necessity and employee engagement, and the rate of change is only likely to increase.
With the UN designated ‘Decade of Change’ well under way, we have already witnessed a raft of new policy and regulation initiatives relating to sustainability. Other developments such as the recent COP26 conference and the Biden administration’s pledge to reassert the USA’s leadership role in climate change have furthered the global momentum on sustainability. The EU President’s flagship policy, the ‘European Green Deal’ builds on this foundation with a new climate law, with revisions of a wide range of associated policy instruments and new proposals in the pipeline. The draft Corporate Sustainability Reporting Directive- if adopted- will see some 40,000 additional European companies required to provide audited reports on ESG data. At a local level, the Office for the Commissioner for Sustainable Development has implemented the Sustainable Development Act, setting out Gibraltar’s future direction. In coming years we will see traditional ‘business as usual’ models fundamentally challenged, with the impact of regulatory changes aimed at dramatically reducing greenhouse gases at the fore.
We recognise that many businesses are at different stages on their sustainability journey, and we pride ourselves on working closely with our clients to offer bespoke solutions that match their specific requirements. Those businesses that can successfully adapt to this new reality stand to capitalize on the potential benefits accruing to these changes, building a resilient business that can contribute to a brighter future for all stakeholders. Grant Thornton can help you with:
Why Grant Thornton?
Grant Thornton’s team of experts provides a wide range of sustainability solutions, combining our knowledge of sustainability with our deep experience in providing professional services. Whether your business is seeking to establish a market leading sustainability position, or is simply trying to come to terms with the increasingly complex regulations surrounding sustainability, our specialists are here to help.