Environmental Sustainability in 2023 and Beyond – The Strategic Imperative

 Environmental sustainability is becoming critical for organizations to stay relevant and competitive in today’s evolving landscape. Much like digital transformation, integrating sustainability mandates organizations to alter every operation in the business. Today, sustainability is advancing as an integral part of developing a corporate framework. Sustainability for organizations can be categorized into three areas - Environment, Social, and Governance (ESG). 

Today, thinking only about environmental sustainability is one of the imperatives. It is equally important to consider technology investments that are driving sustainability in enterprise and customer operations. 

  • Revenue from sustainable products is expected to grow about six times as compared to the rate of other products. 

  • 50% of consumers today are open to paying a higher price for sustainable products that have a social and environmental impact on the supply chain. 

  • By 2025, consumers will prefer products or services that will cause less damage to the environment, human health, and society. 

Read more: Sustainability Outlook: Top Emerging Trends in 2023 and Beyond  

Environmental sustainability is fueling a market revolution that will give companies opportunities to design new products and services. Massive government funding is further empowering companies to integrate environmental sustainability as a strategic imperative, thereby fostering historical business opportunities.  

SGAnalytics_Blog_2023 Trends

A vital business opportunity, sustainability is more than just a matter of survival for businesses. Seeded with immense government investment, environmental sustainability is now ushering into a new green market revolution. The environmental sustainability predictions for 2023 will enable companies to embrace environmental sustainability with integrity and transparency. The upcoming environmental sustainability predictions are set to have the most impactful changes that businesses anticipate. 

2023 Predictions for Environmental Sustainability 

  1. Carbon offsets and credits will be back in vogue. Carbon offsets have experienced their share of criticism for being an excuse for companies to sidestep actual carbon reduction activities. However, these dubious and flawed practices on offset strategies have attracted immense scrutiny in the offset market. While technology vendors and organizations have learned their lessons from previous carbon offsets, the new framework is aimed to lead the way for setting a different model for carbon-offset transparency standards. 

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