In the realm of European politics, the spotlight is firmly on high energy prices and ambitious energy transition objectives. As the European Parliament elections approach, a projected shift to the right has ignited intense discussions about EU climate policy. Right-leaning Members of the European Parliament are advocating for a more measured approach to the Green Deal, citing concerns about the proposed 2040 targets in context with voters’ cost-of-living worries.

The 2024 Gen Z and Millennial Survey by Deloitte highlights that climate change and environmental sustainability significantly influence both workplace and consumer behaviors among Gen Z and millennials. With over 22,800 respondents from 44 countries, the survey found that more than 40% have left or plan to leave jobs due to climate concerns, nearly two-thirds are willing to pay more for sustainable products, and many reject work assignments conflicting with their environmental values. Additionally, these generations increasingly research companies' environmental policies before job acceptance and purchasing decisions, with substantial percentages avoiding fast fashion, reducing air travel, adopting plant-based diets, and purchasing or planning to purchase electric vehicles, reflecting their strong commitment to sustainability.

The IFRS Foundation and EFRAG have released guidance to simplify sustainability reporting alignment between ISSB and ESRS standards, easing the burden on EU companies. The document focuses on climate-related disclosures, providing practical support for applying ISSB's standards alongside ESRSs. Despite differing approaches, the guidance aims to ensure consistency in reporting requirements and reduce duplication in sustainability disclosures.

The article condenses insights from Workiva's 2024 ESG Practitioner Survey, revealing professionals' readiness to tackle challenges posed by the EU's Corporate Sustainability Reporting Directive (CSRD). Despite concerns about data accuracy and regulatory adaptation, a significant number of companies, including those not mandated by the CSRD, plan to align their reporting with the new standards, driven by perceived benefits like competitive advantage and improved decision-making. The survey underscores a growing emphasis on investing in technology for ESG initiatives, with an eye on data management and the potential of generative AI to streamline sustainability reporting. Overall, the findings illustrate regulation as a catalyst for innovation in corporate transparency, with companies increasingly embracing assured integrated reporting as the new norm.

The 2024 KPMG U.S. CEO Outlook Pulse Survey reveals that CEOs prioritize sustainability initiatives despite challenges like inflation and supply chain disruptions. It also reports that CEOs anticipate significant returns from these investments within three to five years, recognizing sustainability as a core business strategy for revenue growth. CEOs also focus on digitization, talent management, and addressing generative AI's challenges, emphasizing responsible deployment. Overall, the survey highlights CEOs' commitment to integrating sustainability into core business practices and leveraging technology for long-term value creation.

The "Mobilizing Small Businesses to Net Zero" report by SME Climate Hub highlights a growing awareness among small and medium-sized enterprises (SMEs) regarding the importance of reducing greenhouse gas emissions, with 44% showing increased emphasis in 2023. However, SMEs face barriers such as the lack of government policies and financial incentives, cited by 52% and 84% of respondents respectively. Additionally, there's a gap in stakeholder engagement, with 63% of SMEs not prompted by stakeholders to address emissions. Industry leaders stress the need for clear policies, regulations, and financial support to aid SMEs in their climate journey, emphasizing the collaborative effort required from governments, financial institutions, and corporate partners to achieve net-zero emissions and thrive sustainably.