As sustainability’s global momentum falters, its purpose must be reframed from compliance to well-being for people and planet to flourish
THE global sustainability momentum is now marred by doubters and detractors. They pushed back against climate actions and policies, even touting climate change as “the greatest con job ever perpetrated on the world”.
The sustainability pause seems alarming. Across the US, billions of dollars’ worth of government grants for clean energy initiatives are being withdrawn. The US Securities and Exchange Commission stopped defending its climate disclosure requirements for public companies. The Net-Zero Banking Alliance retreated into ceasing operations.
The story is different elsewhere in the world. In Europe, support for corporate sustainability rules remains strong, though some environmental policies were rolled back to lighten the regulatory load. Likewise, sustainability reporting regulations are being rationalised but the substance remained intact. In the Asia-Pacific, the impetus continues in countries such as Australia, China, Japan and Singapore, as evidenced by increased green financing and green infrastructure investments.
