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| • | Long time coming. Corporate boardrooms’ embrace of environmental, social, and governance (ESG) investing may seem like an overnight success. It’s actually the result of 30 years of climate science, activism, and regulation. Today, boards recognize that access to capital can hinge on a solid sustainability profile. The change is evident in the proliferation of job titles such as chief sustainability officer and the efforts of boards to attract members with strong sustainability credentials. [WEF] | | | | • | Suddenly slowpokes. Although some are skeptical of the private sector’s commitment to addressing climate change, others are saying that governments are now lagging behind. Some parts of the corporate sector are getting ahead of government commitments and regulations, says the leader of a global group of financial institutions that has pledged trillions of dollars to climate finance. Policy makers need to catch up and set the rules, targets, and timetables to coordinate emission reductions. [Axios] | | | | • | Growing conviction. As more businesses pursue net-zero goals, the corporate ethos is changing, says Claire O’Neill, a leader of the World Business Council for Sustainable Development and former UK minister. Whether from employees demanding change or pressure from shareholders and investors, “there’s a level of conviction there that wasn’t there two years ago,” she states. As a result, companies are working to fight climate change, protect nature, and reduce inequality, O’Neill says. | | | | • | Taking action. Today the world is seeing “unprecedented business engagement” on the environment from all over the world, O’Neill says in an episode of McKinsey Global Institute’s Forward Thinking podcast. One consumer goods company in Brazil has built nature and sustainability into its product designs, working with “a suite of nature-positive materials.” Listen to the full interview for how businesses are mobilizing for sustainability and where the war in Ukraine fits into the climate challenge. | | | | — Edited by Katy McLaughlin | | This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. | | You received this email because you subscribed to the On Point newsletter. | | | | Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007 | | | |
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