ESG Reporting in the 5G Services Industry

Integrating ESG into decision making and business strategies contributes to an effective due diligence and a better investment decision for the company as well as relevant stakeholders. The companies that fall under the 5G services industry have been transitioning and addressing their sustainability progress and agenda.

This segment has more social impact compared to environmental impact. Accessibility has been the primary focus of this market is to provide high quality services, solutions and optimal attention to people, profit and planet. These companies also disclose their own data privacy and protection policies which ensures security for customer’s personal information. This safety is also accompanied by technological advancements like big data, Internet of Things (IoT) and Artificial Intelligence.  Stakeholders are also concerned about the negative health impact of 5G services due to its carcinogenic nature.

During the COVID-19 pandemic, this market had been significantly impacted with increased use of the internet by professionals and students alike. The United Nations’ Sustainable Development Goals (UN SDGs) is a comprehensive framework that helps companies in this market obtain a perspective on the impact of their products and operations on ESG parameters.

Discover more regarding the practices and strategies being implemented by industry participants in the 5G Services Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

In this blog, we delve into the importance of ESG in the 5G services industry and how it can drive positive change.

Environmental Sustainability:

The 5G services industry has the opportunity to lead the way in environmental sustainability. By prioritizing energy-efficient infrastructure, optimizing network operations, and leveraging renewable energy sources, companies can reduce their carbon footprint and minimize environmental impact. Sustainable practices can pave the way for a greener digital future.

Social Inclusion:

Ensuring digital inclusion is a critical aspect of the 5G services industry's ESG journey. Companies must work towards bridging the digital divide by providing affordable and accessible 5G services to underserved communities. Promoting digital literacy programs and addressing connectivity challenges can empower individuals and promote social equity in the digital era.

Governance and Ethics:

Strong governance and ethical practices are fundamental for building trust and ensuring responsible growth in the 5G services industry. Companies should prioritize data privacy, security, and transparent data governance. Compliance with regulatory frameworks and industry standards, along with responsible supply chain practices, can foster a culture of integrity and accountability.

ESG Trends

- Accessibility to all through 5G services is a vital trend in ESG, with companies focusing on reducing inequalities and providing faster internet access to consumers.

- Companies in this segment are innovating through big data, AI, and IoT, and adopting circular economy practices to reduce energy consumption and waste production. However, the 5g services industry is reported to have a negative health impact on health and wellbeing, with limited carcinogenicity compared to higher frequencies like FR1.

ESG Challenges

- Cyber security and data privacy are major challenges for the segment in terms of personal data and financial transfers.

- Lack of infrastructure and bandwidth is a major reason why some countries did not proceed with 5G services, and price transparency is a concern for only tech-savvy patients. 

- 5G deployment requires meeting National investigation agency criteria and obtaining licenses from UASL, CMTS, or UL, as well as addressing negative impacts on health, animals, and biodiversity.

Is your business one of the participants in the 5G Services Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Growth of the 5G Services Market

The 5G Services market has been flourishing along with new innovative spaces like big data, AI, IoT etc. Incorporating technologies to mitigate negative health impact for People and the planet should be critical areas of interest for this segment in order to sustain in this market. Joint effort from industries and telecommunication authorities of countries across the world who don't have access to such technologies must also be propelled to retain market value.  This market has been valued at 48.25 billion USD in 2021 and is expected to propel to a massive 56.7% compound annual growth rate.

Key Companies in this theme

• T&T, Inc.

• BT Group plc 

• China Mobile Ltd.

• China Telecom Corporation Ltd.

• Bharti Airtel Ltd.

• NTT Docomo

• KT Corp.

• Saudi Telecom Company

• Vodafone Group

• Deutsche Telekom AG

• SK Telecom Co., Ltd.

• Verizon Communications, Inc.

• T-Mobile USA Inc.

• Rakuten Mobile Inc.

The 5G services industry has the potential to shape a sustainable, inclusive, and responsible digital future. By prioritizing environmental sustainability, social inclusion, ethical governance, responsible innovation, and transparency, the industry can unlock its transformative power while safeguarding the planet and benefiting society. Let's work together to ensure that 5G services drive positive change for all.

Browse more ESG Thematic Reports from the Technology Sector, published by Astra - ESG Solutions

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

The Role of ESG in the Fast-Food Quick Service Sector

Integrating ESG into decision making and business strategies contributes to an effective due diligence and a better investment decision for the company as well as relevant stakeholders. Companies which are focused on the Fast-food quick service industry have been disclosing ESG data and strategies.

The companies which fall under this segment have both social and environmental impact. As it is a segment involving food, food safety and quality has been the dominant factor in which stakeholders are giving importance. Companies offer various programs and campaigns to showcase their quality and safety throughout their value chain abiding by frameworks and guidelines. Fast food generally isn't considered to be in the category of healthy diet, there are a lot of long term and short-term negative health impacts. Food Waste Management and package waste Management which are going to be landfilled or dumped into water bodies have been a critical agenda for most of the companies. Companies are also shifting to recyclable packaging and have targets to indicate their progress to attain sustainable packaging.

The United Nations’ Sustainable Development Goals (UN SDGs) is a comprehensive framework that helps companies in this market obtain a perspective on the impact of their products and operations on ESG parameters.

Discover more regarding the practices and strategies being implemented by industry participants in the Fast-food Quick Service Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

This blog explores how the industry key players are embracing sustainability and social responsibility, making positive changes that benefit both the planet and consumers.

1. McDonald's Corporation:

McDonald's, a global fast-food giant, is committed to sustainability across its operations. The company is working towards sourcing sustainable packaging and aims to reduce emissions intensity. McDonald's also focuses on responsible sourcing, waste reduction, and renewable energy.

2. Yum! Brands:

Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is dedicated to sustainable practices. The company is striving to source ingredients responsibly, reduce greenhouse gas emissions, and promote responsible waste management.

3. Chipotle Mexican Grill:

Chipotle is known for its commitment to sustainable sourcing and ethical practices. The company prioritizes locally sourced, organic, and non-GMO ingredients, implements recycling and composting programs, and emphasizes animal welfare standards.

4. Our Recipe, LLC:

Our Recipe, LLC is the parent company of Popeyes Louisiana Kitchen, known for its Cajun-inspired fast-food offerings. While specific ESG initiatives of Our Recipe, LLC may vary, the company has been focusing on sustainable sourcing practices, responsible packaging, and waste reduction. They have also made commitments to community engagement and employee welfare.

5. Ark Restaurant Corp.:

Ark Restaurant Corp. is a hospitality company that operates a diverse portfolio of restaurants, including quick-service establishments. While information specific to Ark Restaurant Corp.'s ESG initiatives may not be readily available, the company has the opportunity to implement sustainable practices within its quick-service operations, including responsible sourcing, waste management, and community engagement.

6. Restaurant Brands International Inc.:

Restaurant Brands International Inc. (RBI) is the parent company of renowned fast-food chains, including Burger King, Tim Hortons, and Popeyes. RBI has been actively addressing sustainability and social responsibility across its brand portfolio. The company has set goals to source sustainable ingredients, reduce greenhouse gas emissions, conserve water, and improve waste management. RBI also emphasizes responsible sourcing and community engagement.

Is your business one of the participants in the Fast-food Quick Service Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

ESG Trends

• Fast-food quick service sector is focusing on food quality and safety through various programs and campaigns

• Legal bodies like FDA, FSSAI, and EFSA are framing regulations for better quality and safer food products

• Total Quality program is a part of Hazard Analysis Critical Control Point to prevent food borne illnesses

• Food and package waste management is playing a vital role in reducing environmental impact

• Many companies recycle packages, cooking oil, and have solid waste recycling programs in place to reduce food waste issues.

ESG Challenges

• Fast-food industry faces challenges with waste management of food and packages

• Food waste can lead to crop loss and companies donate excess crops for CSR purposes

• Fast food has negative health impacts, including short and long term issues with nutrition, digestion, immunity, and obesity

Growth of the Fast-food Quick Service Market

To sum up, Fast food has become an unavoidable part of the fast-moving life of people. These industries have become more cautious for sustainability and have been seriously accelerating their pedal to achieve on goals and abide by regulatory frameworks. In fact, the industry has been focusing on innovative procedures and initiatives to minimize food and package waste. The company had a market value at 257.19 billion in 2019 and is expected to have a compound annual growth rate of 5.1% by 2027.

The fast-food quick service industry is increasingly recognizing the importance of sustainability and social responsibility. Leading companies are implementing ESG initiatives, such as responsible sourcing, waste reduction, and renewable energy usage. By embracing these practices, they are not only reducing their environmental impact but also contributing to the well-being of their employees and communities. 

Browse more ESG Thematic Reports from the Consumer Products Sector, published by Astra - ESG Solutions

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

Investing in Sustainable Lipstick Brands: ESG Factors to Consider

In recent years, the beauty industry has witnessed a significant shift towards sustainability and ethical practices, and the lipstick industry is no exception. As consumers become more conscious about the environmental and social impact of their choices, lipstick brands are embracing Environmental, Social, and Governance (ESG) principles to align their operations with sustainable values. In this post, we will explore how the lipstick industry is incorporating ESG practices to promote a more sustainable and responsible approach to beauty.

Environmental Responsibility:

• Sustainable Sourcing: Lipstick brands are increasingly prioritizing sustainable sourcing of ingredients, such as natural and organic oils, pigments, and waxes. This ensures the preservation of biodiversity and reduces the ecological footprint associated with production.

• Packaging Innovations: Many lipstick brands are adopting eco-friendly packaging options, such as recyclable or biodegradable materials, to minimize waste. Additionally, some companies are exploring refillable lipstick cases, reducing the need for single-use packaging.

Social Impact:

• Fair Trade and Ethical Practices: Lipstick brands are embracing fair trade principles, ensuring that the workers involved in ingredient sourcing, manufacturing, and distribution are paid fair wages and operate in safe working conditions.

• Diversity and Inclusion: Companies are recognizing the importance of diversity and representation in their marketing campaigns and product offerings. Lipstick brands are expanding their shade ranges to cater to a broader spectrum of skin tones, promoting inclusivity and empowering individuals of all backgrounds.

Is your business one of participants to the global Lipstick Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

Governance and Transparency:

• Supply Chain Traceability: Lipstick brands are focusing on transparency within their supply chains, ensuring visibility and accountability at every stage of production. This helps to identify any potential environmental or social risks and enables prompt action to mitigate them.

• Corporate Social Responsibility (CSR): Many lipstick companies are actively engaging in CSR initiatives by supporting local communities, investing in education, and partnering with nonprofit organizations to drive positive change.

Growth of Lipstick Market

As of 2018, the global lipstick market was worth USD 11.5 billion. The increasing awareness of personal grooming and appearance of young female consumers throughout the world is expected to be one of the key drivers of this market. Soon, the demand for the product is expected to be fueled by the increasing purchasing power of the female population due to the rising female workforce. The beauty of our bodies is not the only thing people care about; they care about our planet as well. As consumers become more responsible for the climate, they are focusing more on natural and organic products, which has led to an increase in the production and sale of lipsticks that are toxins-free and environmentally friendly.

Key Companies in this theme

    • L'Oréal S.A.

    • Shiseido Company, Limited

    • The Estée Lauder Companies Inc.

    • Coty, Inc.

    • Revlon, Inc.

    • Avon Products, Inc.

    • AmorePacific Corporation

    • Oriflame Holding AG

    • Chanel S.A.

    • Christian Dior SE.

Browse more ESG Thematic Reports from the Consumer Products Sector, published by Astra - ESG Solutions

Conclusion:

The lipstick industry's commitment to ESG principles demonstrates its dedication to sustainable and responsible practices. By prioritizing environmental responsibility, social impact, and governance transparency, lipstick brands are setting new standards for the beauty industry. As consumers, we have the power to support these brands and contribute to a more sustainable future by making conscious choices in our beauty routines. Together, we can create a world where beauty goes beyond aesthetics and encompasses ethical values that benefit both people and the planet.

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

The Future of ESG Investing in the Denim Jeans Sector

The denim jeans industry has long been associated with style, durability, and cultural significance. However, in recent years, it has also come under scrutiny due to its environmental and social impact. To address these concerns, many companies within the industry have taken significant steps towards incorporating Environmental, Social, and Governance (ESG) principles into their operations. In this post, we will explore the ESG initiatives and sustainable transformations taking place in the denim jeans industry, highlighting the positive changes and the challenges that lie ahead.

Environmental Initiatives:

a. Water Conservation: Several denim brands have adopted innovative techniques like laser technology and ozone washing to reduce water consumption during the manufacturing process. They also invest in water recycling systems to minimize their overall water footprint.

b. Sustainable Materials: Companies are exploring alternative materials such as organic cotton, recycled denim, and plant-based dyes to reduce the environmental impact of denim production. These initiatives aim to minimize water usage, toxic chemical discharge, and carbon emissions associated with traditional denim manufacturing.

c. Supply Chain Transparency: Brands are increasingly committed to ensuring transparency throughout their supply chains. They collaborate with suppliers to trace the origin of raw materials, implement fair labor practices, and reduce the use of hazardous chemicals. This transparency helps consumers make informed choices and supports ethical labor practices.

Is your business one of participants to the global Denim Jeans Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

Social Responsibility:

a. Fair Labor Practices: The denim industry is actively working to improve labor conditions in factories and ensuring fair wages for workers. Companies are joining industry-wide initiatives that focus on worker welfare, rights, and safety. They are also encouraging the adoption of international labor standards and certifications.

b. Diversity and Inclusion: Brands are recognizing the importance of diversity and inclusion within their workforce. They are actively promoting gender equality, supporting minority groups, and fostering a culture of inclusivity throughout their organizations. These efforts aim to create a more equitable industry that represents and respects all individuals.

Governance and Ethical Standards:

a. Ethical Sourcing: Denim brands are implementing strict guidelines for sourcing raw materials to ensure they are not linked to deforestation, child labor, or human rights abuses. They engage in responsible sourcing practices and conduct regular audits to maintain their ethical standards.

b. Corporate Governance: Companies are adopting robust governance frameworks, including independent board structures, strong risk management practices, and transparent reporting. They prioritize stakeholder engagement and take into account the interests of employees, customers, communities, and shareholders.

Growth of the Denim Jeans Market

The denim jeans market was economically valued at global scale at USD 64.62 billion as of 2018 and is forecasted to expand with a CAGR (compound annual growth rate) of 6.81 from 2019 to 2025. In terms of ESG the key players of the market have made policies and strategies to reduce the damage caused to the environment by including practices such as circular economy and adapting to renewable sources of energy. However, the challenge for the denim jeans market remains in terms of value chain, which involves logistics and packaging, which produces carbon footprint.

Key Companies in this theme

    • Levi Strauss & Co.

    • VF Corp.

    • The Gap, Inc.

    • H&M Hennes & Mauritz AB

    • Kering S.A.

Conclusion:

The denim jeans industry is undergoing a significant transformation, embracing ESG principles to address the environmental and social challenges it faces. Through sustainable initiatives, such as water conservation, the use of sustainable materials, fair labor practices, and improved governance, denim brands are striving to create a more responsible and ethical industry. However, there is still much work to be done to ensure a truly sustainable denim jeans industry. By supporting brands that prioritize ESG values and demanding transparency, consumers can play a crucial role in driving positive change and influencing the industry towards a more sustainable future.

Browse more ESG Thematic Reports from the Consumer Products Sector, published by Astra - ESG Solutions

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

Sustainability in the Mental Health Apps Industry: ESG Trends

In recent years, the mental health industry has witnessed a significant transformation with the rise of digital platforms and mobile applications designed to support mental well-being. As this sector continues to expand, it is crucial to focus on the Environmental, Social, and Governance (ESG) aspects within the mental health apps industry. ESG considerations are becoming increasingly important in determining the overall sustainability and ethical impact of these applications. In this post, we will explore the significance of ESG principles in the mental health apps industry and examine how companies are incorporating ESG practices to promote positive social change.

Environmental Considerations:

• Carbon Footprint: Mental health apps that rely on cloud-based infrastructure and data storage can contribute to carbon emissions. Companies can prioritize selecting eco-friendly hosting providers and implementing energy-efficient technologies to minimize their carbon footprint.

• Sustainability Initiatives: Organizations can demonstrate their commitment to environmental sustainability by implementing practices such as recycling, reducing paper usage, and adopting renewable energy sources for their operations.

Social Impact:

• Accessibility and Inclusivity: Mental health apps should strive to be accessible to individuals from diverse backgrounds, ensuring that language, cultural, and disability barriers are addressed. Companies can invest in user research and inclusive design to create apps that cater to the needs of all users.

• Privacy and Data Security: Safeguarding user data is of utmost importance. Companies should adhere to stringent data protection regulations, prioritize user consent, and implement secure encryption practices to maintain user trust and privacy.

• Ethical Content and Messaging: Mental health apps must provide accurate and evidence-based information, avoiding stigmatizing language or perpetuating harmful stereotypes. Transparent communication about the limitations and potential risks of the app's features can help users make informed decisions.

Governance Practices:

• Ethical Leadership: Companies in the mental health apps industry should adopt strong governance practices that promote ethical decision-making. This includes establishing a code of conduct, fostering an inclusive and diverse work environment, and implementing robust whistleblower policies.

• Stakeholder Engagement: Engaging with stakeholders, including users, employees, and the wider mental health community, is crucial for understanding their needs and concerns. Regular feedback and collaboration can help companies improve their apps and ensure they meet the highest standards.

Is your business one of participants of the global Mental Health Apps Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

As the importance of sustainability, social impact, and ethical governance continues to grow, here are some key ESG trends observed in the mental health apps industry:

1. Ethical Data Handling: With the increasing reliance on user data for personalized mental health support, companies are placing a greater emphasis on ethical data handling practices. This includes obtaining informed consent, anonymizing data, and implementing stringent security measures to protect user privacy.

2. Diversity and Inclusion: Mental health apps are recognizing the importance of diversity and inclusivity in their offerings. Companies are striving to create apps that cater to a wide range of individuals, considering factors such as language, culture, gender identity, and accessibility needs. Inclusive design and user research are being utilized to ensure that these apps are accessible and relevant to diverse populations.

3. Sustainable Technology Infrastructure: Mental health apps rely on technology infrastructure such as servers, data centers, and cloud services. With a growing awareness of environmental impact, companies are seeking sustainable alternatives for hosting and data storage. They are exploring energy-efficient technologies, renewable energy sources, and carbon offsetting to reduce their carbon footprint.

4. Employee Well-being and Support: ESG considerations extend beyond the app users to the companies' own employees. Mental health app providers are prioritizing employee well-being by offering mental health support services, flexible work arrangements, and fostering a positive work culture. These practices promote a healthier and more engaged workforce.

Growth of the Mental Health Apps Market

Mental health apps Market size has been valued at USD 4.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.5% from 2022 to 2030. Rising utilization of mental health apps owing to their benefits in improving treatment outcomes and lifestyle and increasing awareness regarding mental health as a significant health condition are some of the major factors boosting the market growth. Telemedicine Practice Guidelines in accordance with WHO as well Ministry of Health and Family Welfare (MoHFW) have been monitoring these Mental Health Apps segment.

Key Companies in this theme

    • Mindscape, Calm

    • Mood Mission Pty Ltd.

    • Sanvello Health

    • Headspace Inc.

    • Flow

    • Youper, Inc.

Conclusion:

The mental health apps industry has immense potential to positively impact individuals' well-being. However, it is essential to consider the ESG aspects within this industry to ensure that these apps not only deliver effective support but also contribute to a sustainable and ethical future. By prioritizing environmental considerations, focusing on social impact, and implementing strong governance practices, companies can lead the way in creating meaningful and responsible mental health solutions that benefit both individuals and society as a whole.

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

Sustainable Practices in the Food Grocery Retail Sector

 A strategic combination of brick-and-mortar stores and sustainability has come of age to help create a society free of hunger and waste—a commitment that is all but likely to foster the ESG performance of food grocery retailers. A holistic approach and concerted efforts for a circular economy have unlocked avenues of opportunities to underscore sustainability, complementing good governance, transparency, ethics, diversity, health & wellbeing, renewable energy and greenhouse gas reduction.

Grocery CEOs, shoppers, vendors, investors, NGOs and government organizations are zeroing in on ESG targets to streamline the path to sustainability. A spike in greenhouse gas emissions has meant grocers have upped their efforts on environmental, social and governance fronts—known as ESG.

With consumer behavior shifting towards sustainable products, more so during the COVID-19 pandemic, food manufacturing companies have exhibited resilience. Of late, brands are not shying from making their ESG performance public, communicating their milestones and sharing credentials.

Learn more about the practices & strategies being implemented by industry participants from the Food Grocery Retail Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

Walmart Echoes Green Growth

Millennials and the Gen Z population prioritize sustainability-marketed products as grocery shoppers emphasize GHG emission reduction and raw material conservation. Amidst the popularity of ready-made meals, consumers expect brands to adhere to sustainability goals. Brands are gearing to reduce virgin plastic content and invest in recyclable packaging. Walmart is heading to 100% recyclable, reusable or compostable packaging by 2025. The behemoth aims for 20% post-consumer recycled content in private-brand product packaging across North America by 2025.

The American retail brand is on the cusp of innovation and is committed to science-based targets (SBTs) to attain a 35% reduction in absolute scopes 1 & 2 emissions by 2025. In fact, the company is on course to minimize or avoid one billion metric tons of GHG emissions (Project Gigaton) in the global value chain by 2030. It claims that over 4,500 suppliers have joined the project since 2017.

On the other side of the spectrum of opportunities and challenges, an unprecedented rise in waste has prompted Walmart to use reusable packaging containers and navigate unsold food issues. The retailer giant is aiming for zero operational waste in the U.S., Canada and Mexico by 2025. Leading brands are expected to develop an ESG impact that resonates the sentiments of the circular economy.

Kroger Insists on Food & Product Safety to Bolster Philanthropy

The COVID-19 disruption was a wake-up call for retailers to reinforce responsible sourcing and foster quality food across the supply chain. A robust social profile is paramount to provide convenience and add value to customers through the inculcation of, including but not limited to, integrity, safety, respect and inclusion. Kroger has set bullish strategies across manufacturing and distribution centers, such as environmental monitoring programs, hazard analysis and risk-based preventive controls, leadership and training, food allergen control, food safety maintenance, cleaning practices and pest prevention.

Brands are positioning themselves to tap into social pillars to foster donations and meals for communities. Ever since the retail company set the Zero Hunger | Zero Waste plan in 2017, it has taken a giant stride to achieve the philanthropic goals of creating communities free from food waste and hunger. Kroger infers to have trained 98% of associates in personal safety, while it boasts of rescuing 94 million pounds of surplus food for donation. In 2021, the American brand asserted to have directed 546 million meals to communities.

The retailer explored diversity-focused development and learning opportunities to underpin positive change in the workplace. The company joined forces with historically Black colleges and universities (HBCUs) and Hispanic-serving institutions (HSIs) to foster a diverse talent pipeline. It essentially injected around USD 450 million into associate wages and training in 2021.

Is your business one of participants to the Food Grocery Retail Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Costco Wholesale Underscores Corporate Governance

Strong corporate governance heralds a company culture that complements transparency, ethics & compliance, engagement in public policy, board diversity and human rights. The FY 2022 saw Costco make sustainability a "core part of the charter and responsibility" for the Board's Nominating and Governance Committee. It has also introduced ESG Executive Advisory Council and aligned executive compensation with ESG priorities, including but not limited to, waste reduction, diversity, equity and inclusion (DEI), climate and resource consumption.

Risk assessment in financial planning, strategy and business has become paramount to upholding sustainability standards. Costco has qualitatively analyzed and identified potential climate-related risks influencing the Food & Beverage and Multiline retail industries. In 2022, its global executives reportedly held in-depth climate-pertaining scenarios assessments to decipher risks and opportunities to supply chain, operations, goodwill, employees, members and products.

The retailer has taken a quantum leap in transparency through frameworks, including CDP. The retail giant has rolled out several frameworks to augment data security. The manufacturing company is counting on the NIST Cyber Security Framework (CSF), ISO27001 and the Payment Card Industry Data Security Standard (PCI DSS). The adoption of measures, such as multi-factor authentication, phishing detection and mitigation and file integrity monitoring, has furthered the company's governance policies.

At a time when brands are grappling to protect the planet and propel their business performance, creating a transparent baseline around GHG emissions could be the silver bullet. For instance, the AEON Group has set the AEON Decarbonization Vision 2050 to minimize CO2 emissions to zero at stores by 2040, helping achieve a decarbonized society. 

Growth Of The Food Grocery Retail Market

As of 2022, the global food grocery retail market is valued at USD 11,324.4 billion and is expected to grow at a compound annual growth rate (CAGR) of 3.0%. In addition to increased grocery expenditures induced by COVID-19 lockdown, higher online grocery sales volumes, and consumer polarization, the growth is primarily attributed to these factors. As a result of the pandemic, consumers became polarized where some were ready to pay for premium-priced products. The food & grocery retail sector has been altered by the COVID-19 pandemic.

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

ESG Implications for Life Science Analytics Companies

Business goals in the healthcare and medical sectors are increasingly linked with big data, so much so that life science analytics has become a major proponent of environmental, social and governance (ESG) practices. At a time when life science companies are painstakingly emphasizing the manufacturing and distribution of medicines, research and development and innovation, sustainable reporting has become instrumental in solidifying their brand positions.

ESG reporting can be the silver bullet to retain talent and drive business results with a positive influence on society and the best possible outcome for all.

A concerted and sustainable effort to expedite replacement, reduction and refinement to foster new research models, approaches and tools has panned well. Several organizations are banking on diversity to minimize attrition rates and employees who prioritize environmental issues and social factors for good health. Furthermore, policymakers, consumers, employees, investors and venture capitalists have prioritized transparency, leadership behavior, opportunities and pay parity.

IBM Views Sustainability as Vehicle to Drive Business

Business leaders have fostered their roles in the environment portfolio to bolster carbon footprint monitoring and develop recycling initiatives. Life science companies are poised to play an invaluable role in combating climate change. The 2021 UN Climate Change Conference (COP26)—Glasgow Climate Pact—has potentially encouraged companies to move towards a low-carbon and more sustainable path. IBM will use renewable sources to procure 75% of its global electricity consumption by 2025, the giant mentioned in its 2022 ESG report. The company is also committed to implementing at least 3,000 new energy conservation projects to offset the consumption of 275,000 MWh of energy from 2021 through 2025.

With IBM expecting to reach net-zero operational GHG emissions by 2030, it has addressed market-based scope 1 and 2 emissions and scope 3 emissions (linked with electricity consumption) at third-party co-location data centers. Besides, the technology behemoth pegged its weighted average power usage effectiveness (PUE) at 1.52 in 2022 vis-à-vis 1.552 PUE (baseline) in 2019. Commitment to environmental leadership has received an impetus, creating a path to reduce climate-related risks.

Is your business one of participants to the Life Science Analytics Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Wipro and Novartis Up Social Commitment to Turn ESG Goals into Actions

Employees and consumer safety are pivotal to further sustainable goals as companies foster social targets to underpin the business strategy. So much so that ESG-themed bond has become pronounced to make drugs more accessible to everyone. In September 2020, Novartis reportedly became the first pharma company to issue a sustainability-linked bond at EUR 1.85 billion (USD 2.2 billion) to impel patient reach in low- and middle-income countries (LMICs). The company is bullish on augmenting patient reach in LMICs through strategic innovative therapies by 200% by 2025.

Wipro underpinned its social profile with an infusion of funds into an inclusive and diverse culture that fosters sustainable performance. The Indian giant has implemented buoyant policies to attract and retain LGBTQ+ employees. It has apparently revised group mediclaim insurance and the medical insurance scheme to include same-sex partners of employees. In February 2021, Wipro was named in the Human Rights Campaign Foundation's Corporate Equality Index (CEI)—the U.S. corporate policies and practices pertaining to LGBT workplace equality. Cultivating a culture of inclusion will sow the seed of a plurality of ideas and embrace all forms of differences.

Accenture Invests in Board Diversity to Pave Path with Vision and Value

Gender-diverse boards are widely linked with better engagement, increased investment efficiency and increased work-life balance. The trend toward transparent disclosure and creating an equitable environment can be contagious. Accenture infers that 50% of its board of directors is women, while 50% is racially and ethnically diverse. The company's 2021 U.S. workforce data reveal that it has fostered the number of Asia Americans and Asia executives by 3.5 percentage points. The service company is gearing up to achieve its 2025 goals of boosting representation of Black, African American, Hispanic American and Latinx among its leadership and workforce. Forward-looking companies are expected to uphold sound corporate governance practices to ramp up their ESG objectives.

Amid medical device, pharmaceutical and diagnostic regulatory scenarios changing, top-performing companies are poised to inject funds into sustainable goals. Tax transparency, for instance, is invaluable to building trust among stakeholders. Plastic packaging tax in the U.K. came into force in April 2022, with the charge pegged at £210.82 per ton from 1 April 2023 on plastic packaging with less than 30% recycled plastic, imported or manufactured into the U.K.

Price transparency in hospitals has gained a considerable uptick, a compelling portfolio to raise the ESG bar. In January 2021, each hospital functioning in the U.S. have been required to offer accessible and clear pricing information online about services and items. With the ESG pressure compelling businesses to enhance their sustainable value chain, Grand View Research forecasts the global life science analytics market to exhibit a 7.7% CAGR between 2022 to 2030.

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

ESG Initiatives in the Online Grocery Sector

Grocery CEOs, consumers and grocers envisage online shopping as the next big thing, spurred by technological advancements and greater convenience. The COVID-19 onslaught was partly attributed to online grocery flooding the market. While leading players and startups jumped on the bandwagon, ESG watchdogs were wary of the sustainable impact the industry would have on the planet. Stakeholders are expected to harness gender equality, fair wages, waste reduction, responsible sourcing of farm produce and sound corporate governance. 

The ease of browsing, getting items ticked off and quick delivery have been a revelation—a delivery service delivering to multiple homes has negated the need to drive to the store. More than 17 million metric tons of CO2 pollution are attributed to weekly household trips to the grocery store, a report cited by the U.S. EPA claimed. Incumbent players have furthered investments in electric vehicles (EVs) to offset greenhouse gas emissions. In April 2022, India-based Swiggy, a food delivery company, joined forces with EVIFY to enable grocery and food delivery through EVs in Surat, Gujarat. 

Industry leaders are likely to emphasize upstream transportation (farm-to-retail) and foster last-mile transportation—pushing for deliveries and offsetting personal trips. Centralized grocery delivery services and fulfillment centers have brought a paradigm shift in minimizing GHG emissions and food loss. State-of-the-art technologies, including predictive analytics, can provide the silver bullet to prevent pilferage and streamline sourcing. Besides, boosting access to affordable and high-quality fresh food, along with the focus on diversity, integrity and transparency, will remain instrumental for a circular economy. 

Learn more about the practices & strategies being implemented by industry participants from the Online Grocery Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

Kroger and BigBasket Invest in Climate Strategy for a Sustainable Future

The online retail boom and an emphasis on speed and user experience—instant delivery—have disrupted e-commerce business models. Brands with sustainability strategies appeared resilient during the COVID-19 outbreak, banking on online shopping to conserve raw materials and minimize GHG emissions. Kroger is poised to establish a new Scope 3 goal for supply chain emissions reduction in line with its Science Based Targets initiative (SBTi) commitment. The American retail giant has set 2030 sustainable packaging goals, such as using 100% recyclable, reusable and/or compostable packaging. 

Amidst emerging climate risks and opportunities, Kroger inferred using infrared refrigerant leak-detection technology in 2,000 stores. Meanwhile, in 2021, Bigbasket, a TATA Enterprise-owned online grocery retailer, teamed up with New Leaf Dynamic to install a biomass-powered chiller that can save 186 tons of CO2 annually. The Indian giant cited in its Green Report 2022 that it produced 5,457,000 kWh of solar power (reducing 1,670 tons of GHG emissions) in 2022 and 5,458 electric delivery vehicles helped minimize 7012 tons of CO2 emissions during the period. 

Amazon Fresh Navigates Changing Social Landscape 

Amidst rampant layoffs and the prevalence of workplace injuries, grocery warehouses and fulfillment centers have prioritized the social pillar. In January 2023, Amazon announced over 18,000 job cuts, denting workers across industry verticals, including grocery stores. People employed as supply chain managers, program managers, software engineers and store designers bore the brunt in online grocery delivery and fresh stores businesses. That said, the American behemoth inferred in May 2023 that it had poured CDN 25 billion since 2010 in its Canadian operations, including job creation and establishment of data centers and fulfillment centers. In September 2021, the U.S. giant committed USD 1.2 billion to offer 300,000 employees education and skills training programs till 2025. 

Incumbent players have upped investments to make the workplace safer and foster a healthy environment. Amazon has a team of health coordinators, physiotherapists and advisors. The occupational doctors perform medical checks and report trends in major risk areas. 

The U.S. e-commerce company has augmented diversity, equity and inclusion (DEI) efforts to underscore its sustainability quotient. In 2021, it committed to a 30% rise year over year in hiring U.S. black employees in level 4 through level 7 from the preceding year’s hiring. The multinational company warrants 100% of employees to take inclusion training. 

Is your business one of participants to the Online Grocery Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Governance Key for Relentless Sustainable Goals of Rakuten and Walmart

Sound corporate behavior is second to none for an agile business process and an inclusive global system that complements ethical business practices. Rakuten creates a list of ESG themes with the assistance of external experts and refers to the UN Sustainable Development Goals and Sustainability Accounting Standards Board (SASB) Materiality Map.

The Japanese company has appointed Chief Compliance Officer (CCO) to undergird compliance management. It has banked on a risk-based approach to define high-risk issues and implement measures, such as prevention of money laundering and terrorist financing; prohibition of bribery and corruption; and adherence to competition, antitrust and other related laws. 

Rakuten has propelled board diversity—outside directors account for 58.3% of the BoD, while 25% are foreign directors. Meanwhile, Walmart expects Board members to disclose their race/ethnicity and gender annually. Its board had 27% women and 18% directors who are racially/ethnically diverse (as of April 2023). 

Millennials and Gen Z want the e-commerce sector to foster social contributions, operate in a responsible supply chain and bolster transparency. ESG reporting could be pronounced, prompting online incumbents to further their investments in sustainability. Grand View Research anticipates the global online grocery market size to depict upward growth through 2030. Investments in the circular economy can create momentum and be a differentiating factor in an ever-growing competition in the online grocery business. 

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

Investing in Electric Scooters Industry: The ESG Perspective

Electric scooters have witnessed a notable journey from risky tech novelty to a green travel solution. The development of more sustainable, safe, affordable, convenient and efficient urban transportation solutions will see consumers transitioning to e-scooters. Electric mobility has witnessed profound traction to encourage environmentally friendly companies to invest in ESG initiatives. An increased commitment to a cleaner planet, sound corporate governance, safety & resilience and social impact will steer EV adoption.

Consumers, think tanks, independent researchers and media have furthered their focus on lightweight electric bikes that can propel carbon neutrality. With air quality, noise and pollution emerging as global concerns, stakeholders could vouch for electric scooters. There are tailwinds galore: accessibility to mobility, convenience and lower environmental impact if decarbonized or renewable energy is used.

Amidst the sustainable aspects of EVs, e-scooter manufacturers have received flak for greenhouse gas emissions during the manufacturing process, moving and managing them. According to a 2019 study from researchers at North Carolina University, e-scooters emit more GHG emissions per mile than traveling by bus, moped, bicycle or on foot. As such, increasing e-scooters' lifespan could be the way forward. Furthermore, e-bikes can be an invaluable addition to commuters to enhance a shared model, and for manufacturers to foster recyclability, improve quality of life and bolster safety.

Discover more regarding the practices and strategies being implemented by industry participants in the Electric Scooters Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

Environmental Perspective

Lately, battery-swapping technology has gained ground to refuel e-scooters and contribute to a sustainable environment. Industry leaders assert that using swappable batteries could help minimize emissions. To illustrate, in February 2023, Gogoro Inc. launched its Impact Report illustrating how battery swapping has become paramount for sustainable transportation. The swapping system can integrate renewable power into electricity grids with demand response and virtual power programs. It has introduced Swap & Go, which offers up to 67% lower GHG emission per passenger kilometer. Besides, in 2022, the Taiwanese company started purchasing renewable energy to further minimize the amount of scope 2 emissions caused by retail operations, manufacturing and battery swapping services. Concrete plans to foster renewable energy, quality maintenance & repairs can underpin sustainable strategies.

Social Perspective

Stakeholders have prioritized e-bikes to offset noise pollution, efficiently use space & preserve public space, safety and foster diversity. According to the European Environment Agency (EEA), over 100 million people are exposed to harmful levels in the EEA-33 member countries, with road traffic becoming infamous as the most prevalent source of environmental noise. Moreover, noise pollution is associated with increased depression, stress and impaired learning abilities. Leaders are expected to promote silent electric mobility to negate noise pollution. Predominantly, diversity has become pivotal to propelling the social profile. According to the VOI ESG Sustainability Statement 2019-2020, 50 nationalities represent its 500 employees from diverse profiles and skill sets. The mobility company has also introduced incentivized parking zones to foster responsible parking. These trends indicate the global electric scooters industry is poised to gain ground as companies strive to unlock the social benefits of EVs.

Is your business one of the participants in the Electric Scooters Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Governance Perspective

Unlocking the compelling impact of e-scooters will need transparency, good corporate behavior, ethics & compliance, transparency and board diversity. At a time when sustainable development has become a benchmark to measure a company's value and success, industry players have ramped up efforts to introduce ESG policies. For instance, in October 2021, Yadea formed an ESG Committee to foster green transformation and modern governance. It has also exhibited concerted efforts toward the disclosure of ESG policies. The company is counting on regular reporting to update the public and investors on green initiatives. The Shanghai-based company is well-positioned to foster diversity and maintain a high standard of corporate governance. Yadea has eight directors, including four independent non-executive directors and one non-executive director, according to its Annual Report 2021.

Investors, entrepreneurs and other stakeholders expect bullish policies, consumer acceptance, technology advancements in battery technology, increased lifespan of scooters, renewable energy and improvement in the charging infrastructure to fuel the adoption of two- and three-wheel EVs. In doing so, leading players will bolster their ESG goals and focus on micromobility. To illustrate, Halfords suggests it collected and recycled 4,562kg of used domestic batteries in the U.K. stores in FY 2020. With the recycling efforts becoming pronounced, the marketplace is slated to witness investment galore. The electric scooters market is expected to witness a robust CAGR of 7.8% from 2022 to 2030.

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

ESG Shows Ways from Pollution to Solution to Recycled Plastic Companies: Astra ESG Solutions

San Francisco, January 24, 2023: The growing spotlight on the environmental, social and governance (ESG) framework has prompted the recycled plastic industry players to foster their sustainability portfolio. Stakeholders are positioning themselves to connect brands with environmentally friendly plastic. In essence, recycling companies are gearing up to minimize waste and seek innovative ways to combat carbon emissions. Amidst the global push to eradicate pollution, packaging has garnered huge headlines. UNEP notes that global plastic production is pegged at 400 million tons per year. Besides, merely 9% of this is recycled and 12% is incinerated. Accordingly, in March 2022, the U.N. member states endorsed a resolution to beat plastic pollution and create an international legally binding agreement by 2024. Sustainable and affordable options for recycled products have gained ground, furthering the need for ESG frameworks globally.

Public policy could be instrumental in overcoming plastic packaging pollution. The ubiquitous nature of plastic has put pressure on regulators and investors to find solutions for pollution across sectors, including retail, manufacturing, industrial, and electronics. According to Greenpeace, supermarkets in the U.K. emit 800,000 tons of plastic packaging per year, while the government is committed to ensuring all plastic packaging is reusable, recyclable or compostable by 2025. Meanwhile, in May 2022, legislators in New York proposed two bills to enhance plastic recycling rates. It would need producers to eliminate toxic chemicals from packaging, minimize packaging and pay for recycling and disposal costs.

Discover more regarding the practices and strategies being implemented by industry participants in the Recycled Plastic Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

Veolia Bolsters Environmental Profile to Navigate Growth Potentials

Concerted efforts from manufacturers and suppliers to combat pollution have led to the demand for recycled products and services. The shifting trend toward recycled products is expected to foster the environmental profile. Companies upgrading technologies to reduce environmental impacts could be the new normal. Veolia asserted in its Integrated Report 2021-2022 that around 476 thousand metric tons of plastic were recycled in its transformation plants in 2021. The company has acquired a host of end technologies to recycle plastic and equipment for biological, material and energy processing. It expects around 610,000 metric tons of recycled plastic to leave its processing plants by 2023.

With China and countries from Europe and North American Free Trade Agreement (NAFTA) witnessing a surge in plastic production, stakeholders are poised to boost their efforts to eliminate waste from the environment. Leading players are likely to use polyethylene (HDPE or LDPE)—in packaging or construction—and polypropylene (PP)—in household appliances, furniture, automotive and construction. In October 2022, Veolia rolled out PlastiLoop which will help customers source recycled plastics with a host of polymers. The France-based company has been offering high-performance ready-to-use recycled resins, including HDPE, PP, PET, LDPE and PS.

PureCycle Emphasizes Social Performance

Well-established players are positioning themselves to connect brands with sustainable and high-quality products and complement social responsibilities. Recycling technology companies are prioritizing workplace safety, diversity and training & development, recruiting & hiring, discipline, compensation & benefits. To illustrate, PureCycle has a Diversity & Inclusion Policy in place to foster non-discrimination, equal employment opportunity and diversity and inclusion, among others. The company alluded to a low turnover as low as 7.5% in 2021. It has also put forth risk management systems and formed policies to help reduce possible accidents, such as team member and visitor safety protocols, a code of business conduct and ethics, guidelines for management systems and operational excellence policy. Moreover, the company is slated to establish a recruiting and employee engagement program to reinforce a resilient workforce.

Investors, manufacturers and other stakeholders have underscored the importance of workers' safety. Prominently Shell inferred that over 100,000 employees and contractors completed compulsory training on the Life-Saving Rules that came into effect from January 2022. It is also committed to its Shell Supplier Principles and expects contractors and suppliers to offer a dedicated whistle-blowing mechanism where grievances pertaining to labor and human rights, Health, Safety, Security, Environment (HSSE) & Social Performance (SP) and business integrity are recorded anonymously.

Dow Invests in Corporate Governance Structure

Stakeholders have depicted profound inclination to enhance governance, accountability and transparency. In doing so, industry players are likely to maintain a board with diverse backgrounds, design compensation programs and ensure a culture of integrity. According to Dow's 2021 ESG report, 5 new members of its board have been women or U.S. ethnic minorities in the last 3 years. It has also set comprehensive ESG disclosures in line with GHG Protocol, GRI, TCFD, WEF and SASB. In its 2021 report, the company alluded to meeting the 2017 commitment to fully implement the TCFD recommendation.

Get more insights about how key industry participants like REMONDIS SE & Co. KG, Biffa, Stericycle, Republic Services, Inc., WM Intellectual Property Holdings, LLC, and Veolia are identifying, analyzing, and mitigating ESG risks and ensuring compliance

All board committees—audit committee; compensation and leadership development committee; corporate governance committee and Environment, Health, Safety & Technology (EHS&T) Committee— comprise independent directors. The board and its committees underscored ESG transparency and accountability with the first integrated ESG report in 2021. Furthermore, the company noted in its second annual ESG report released in June 2022 that it took a giant stride with enhanced carbon emissions reporting and climate risk disclosures and greenhouse gas intensity metrics.

Corporate governance, with the focus on recycling technologies, has become the mainstay for board members and stakeholders to remain ahead of the curve. In the last two years, Dow has reportedly infused around USD 50 million into recycling infrastructure, impact funds and major technologies to transform waste into solutions. Moreover, in June 2022, it revealed a slew of partnerships in plastics recycling, including the collaboration with Mura Technology. It will help eliminate plastic pollution with the construction of advanced recycling facilities. Mura's first plant using the technology could begin in 2023 in England.

Is your business one of participants to the Global Recycled Plastic Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

At a time when environmental, social and governance frameworks could propel customer-centric, innovative and sustainable, stakeholders could inject funds into organic and inorganic strategies. For instance, in January 2022, SCG Chemicals announced a collaboration with Shell to introduce eco-friendly lubricant bottles. The packaging reportedly recycles household plastic waste complying with ESG and the UN Sustainable Development Goals. Grand View Research anticipates the global recycled plastic market to depict around 4.8% CAGR by 2030. Industry leaders are expected to underpin their efforts to minimize GHG emissions, prevent plastic waste and provide recycled plastic products.

Key Benefits of the Recycled Plastic Industry ESG Thematic Report

• Developing a comprehensive understanding of macro-economic, Policies & Regulations and innovations affecting the Recycled Plastic space, globally
  
  
• Key insights into environmental developments and ESG issues affecting the theme
  
  
• Identifying ESG risks and opportunities to business among leading players in the Recycled Plastic
  
  
• Obtaining a clear and relevant understanding of company actions, progress, and impact and find opportunities for investment into the sector

Browse more ESG Thematic Reports from the Materials Sector, published by Astra - ESG Solutions

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

Need expert consultation around identifying, analyzing and creating a plan to mitigate ESG risks related to your business? Share your concerns and queries, we can help!

Water and Wastewater Treatment Industry ESG Thematic Report, 2022: Astra ESG Solutions

San Francisco, December 20, 2022: With the world observing unprecedented challenges and the influence of climate change, the water and wastewater treatment industry size could be pronounced on the back of bullish investment in a sustainable future. Developments of environmental, social, and governance practices will help stockholders map impacts to their value chain, enable performance reporting and tracking and exhibit a corporate commitment to sustainable growth. Industry leaders are expected to shift their attention to the impact of water shortages, soaring prices, and surging regulations in their decision-making. Stakeholders are emphasizing 4R—reduce, reuse, recycle and reclaim—to streamline wastewater treatment and propel ESG compliance. Investors and consumers are poised to focus on the ESG profile and minimize operational risks amidst concerns about pollution, energy consumption, climate change, and the rising usage of chemicals. 

Water and Wastewater Treatment Industry ESG

The World Resources Institute forecasts a 56% deficit of freshwater by 2030, compelling businesses to propel the management of water and wastewater treatment. The prevalence of water pollution and its impact on global health has furthered the need for setting and achieving ESG goals. Sustainable wastewater management has gained ground amidst an uptake in wastewater generation. For instance, in 2021, Merck Group produced around 13.3 million cubic meters of wastewater, while discharging approximately 9.5 million cubic meters of freshwater in surface waters. The company aims to minimize possibly harmful residues in wastewater by 2030. The surge in municipal wastewater and the prevalence of sewage have prompted stakeholders to emphasize environmental, social, and governance pillars to keep up with the global trend. 

Read more form the Water and Wastewater Treatment Industry ESG Thematic Report, 2022, published by Astra ESG Solutions

Environmental Perspective

Investors, suppliers, and other stakeholders have prioritized the upsides of water treatment projects to minimize power consumption, reduce water use from the local supply, free up space and reduce off-spec discharge risk. Although the majority of Americans have access to safe drinking water, harmful contaminants, including copper, lead, and arsenic, have been found in tap water. Leading companies are expected to further their efforts to contain negative environmental impacts from chemical spills, wastewater discharges, or water quality violations. For instance, California Water Service Group asserts its customers saved 47.8 million gallons of water in 2021 with increased saving efficiency measures. The public utility company assesses treatments on an industry-wide level, conducts audits, and undertakes regular maintenance of wastewater treatment systems. 

ESG considerations have become a management priority with wastewater reduction slated to foster the company’s environmental profile. Xylem, Inc. has set a bullish goal to recycle 100% of its wastewater by 2025. In May 2022, it introduced a smart wastewater treatment solution that can reduce operating costs and energy use by 25%. In April, the company announced an infusion of USD 20 million to foster innovative water and industrial technologies. Besides, Ecolab claims it helps customers manage 1 trillion gallons of water through the use of real-time data, management software tools, innovative technologies, and treatment services. It also aims to conserve around 300 billion gallons of water annually by 2030. The company has also designed a wastewater treatment station in France to minimize water discharge to the city sewer network by approximately 80%, enabling the facility to reuse around 20 million gallons of water each year. 

Social Perspective

Stakeholders have furthered their efforts on workforce development, diversity, equity, safety, and health. Sustainable investors are likely to respond to the expanding scope of the social pillar as businesses and technological advances become interconnected. ESG-focused company Xylem remained at the helm with a roughly 80% score. The growth trajectory is partly attributed to robust human rights policies. Meanwhile, Ecolab has furthered its commitment to propel diversity and equity through its 2030 Impact Goals. The company contemplates augmenting its management-level gender diversity to 35% and management-level ethnic diversity to 25%. It has emphasized educating interview teams, recruiters, and hiring managers on bias, diversity, and inclusion. For instance, while 35% of all new management-level hires in the U.S. were people of color in 2021, globally around 38% of all new management-level hires were women.

Industry participants are striving to retain and attract talent—Veolia invested in an ambitious policy as the average number of hours of training per employee touched 21 in 2021. It aims to minimize the frequency of workplace accidents from 6.65 in 2021 to 5 by 2023. Besides, Ecolab hired 8,905 new employees in 2021, while the average turnover rate was pegged at 17.4%. Meanwhile, Xylem provided 12.61 hours of training per employee in 2021 and has introduced employee training programs, such as Employee Network Groups, Ignite, and Watermark. It has strengthened workplace safety by introducing safety alerts and expanding digitally connected safety programs. According to Xylem Sustainability Report 2021, 49 of its facilities witnessed zero accidents in 2021, along with Querétaro, Mexico, São Paulo, Brazil, and Bogotá, Colombia facilities achieving five years without any recordable cases. 

Understand how key industry participants like Xylem, Inc., Ecolab, Inc., and Veolia Environment S.A. are identifying, analyzing and mitigating ESG risks and ensuring compliance

Governance Perspective

Leading players have pushed the bar with growing traction for strong corporate governance that bolsters accountability, underpins the long-term interest of shareholders, and propels brand position. To illustrate, Xylem's Board of Directors (end of 2021) comprised ten members, and all except CEO were independent. The soaring significance of ESG encouraged the organization to form the ESG Reporting Working Group to advise on, review and guide the evolution of its approach to ESG disclosure. It has also adopted 2025 Sustainability Goals to provide 35% of women with leadership roles by 2025. 

Robust corporate governance is paramount to growing and sustaining businesses as companies seek to comply with core values and commitment to ethical standards and board diversity. For instance, 5 out of 12 California Water Service Group directors are women and the organization has 10 out of 12 independent director nominees. The utility company showed traction for a host of public policy initiatives in 2021, including the provision of up to USD 55 billion to address water infrastructure challenges.  

According to Astra’s scoring model, Dupont de Nemours, Inc. was placed at the top in terms of corporate governance. The trajectory is mainly attributed to the governance standards and credibility among stakeholders—more than 90% of the board comprises independent directors. Furthermore, it has set the Sustainability Oversight Committee to review and approve sustainability policies and initiatives and oversee the Strategic Leadership Council’s work. In doing so, the company has embedded ethics and sustainability across global supply chains to propel a circular economy, climate change, and diversity. 

Well-established players and new entrants are expected to propel innovations and sustainability portfolios in treatment, water reuse, and -loss. Stakeholders are touted to expedite technological advancements, mergers & acquisitions, and commercial and social innovations. To illustrate, in August 2022, Veolia announced it inked a merger agreement with Vigie SA (previously known as Suez SA). While the actual merger took place in January 2022, the final merger was scheduled for October 2022. 

With industry leaders emphasizing the reuse and recycling of wastewater, prevailing dynamics are likely to reshape the ESG landscape. An emphasis on cost reduction in wastewater treatment plants could help customers keep up with their operational budget. For instance, digitization is likely to help companies cash in on water, cost, and energy efficiencies. Advanced solutions can provide real-time data to offer recommendations and suggestions to optimize aeration and water usage. Accordingly, the water and wastewater treatment market size could garner USD 41.8 billion by 2030. Bullish demand for wastewater treatment technologies and rigorous regulations will provide tailwinds to the global landscape.

Browse more ESG Thematic Reports from the Utilities Sector, published by Astra - ESG Solutions

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

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Solar Energy Generation Industry ESG Thematic Report, 2022 | Astra ESG Solutions

San Francisco, December 13, 2022: The Growth of the solar energy generation industry will depend on the proactive and relentless efforts of forward-looking companies to navigate the risks posed by climate change. Current and predicted issues expected to arise due to climate change have brought a paradigm shift in the ways businesses assess risk, and plan and deploy resources. Sustainability, security compliance, safety, business growth, and innovation have become instrumental to progress toward implementing best practices in environmental, social, and governance portfolios. The trend for green, sustainable, and safe pathways is likely to pay off and help make better economic sense in the long run. Prominently, solar energy generation has garnered popularity as one of the cheapest forms of electricity and will be a solid proposition to tap potential in energy generation.

Solar Energy Generation Industry ESG

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In common parlance, solar energy plays an invaluable role in boosting sustainable development energy solutions. Solar energy generation applications are likely to play a vital role in fostering an environmentally friendly energy agenda. In essence, solar panels have gained ground to generate clean power and contain the cost of electricity. To illustrate, in June 2022, the U.S. Solar Buyer Consortium announced an infusion of USD 6 billion to bolster the domestic solar panel ecosystem with the supply of around 7 GW of solar modules per year from 2024. It is worth mentioning that the Solar Energy Industries Association asserts that the U.S. installed 23.6 gigawatts of solar capacity in 2021. The federal investment tax credit, along with renewable energy credits, advanced technologies, reduced installation costs, and financing arrangements, offers promising opportunities for stakeholders to emphasize solar power as an indispensable part of the ESG goals across the U.S.

Exelon Corporation Harnesses the Potential of ESG

With environmental issues spurring governance and social practices, investors are curious to know how businesses minimize their carbon footprint. Stakeholders are responding to these trends through ESG strategies. Several companies have come to the fore to inject funds into renewable energy to propel ESG sustainability goals. For instance, the Exelon Corporation reportedly avoided 78 million metric tons of GHG emissions with its zero-carbon nuclear generation. The company witnessed 161 million MWh zero-carbon generation, around two-fold more compared to the next largest producer. In July 2022, Exelon released the 2021 Corporate Sustainability Report and noted that it poured USD 6.6 billion in energy infrastructure in 2021 and is contemplating raking in USD 29 billion from 2022 through 2025. On the environmental front, the company claims to be working to minimize impacts on biodiversity and watersheds. It has also spurred sustainability through corporate governance—assessing accountability and risk.

Understand how key industry participants like Exelon Corp., E.On S.E., and Duke Energy Corp. are understanding and mitigating ESG risks and ensuring compliance

Does your business participate in the global energy sector? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

E.ON SE at Pole Position in ESG Disclosure; Emphasizes Green Electricity

Sustainability strategies and disclosures have come on the horizon amidst ESG being tasked with the goal of decarbonizing the global economy. When it comes to ESG disclosure, E.ON SE is at the helm, followed by Exelon Corporation and Equinor ASA. It is gearing to be climate-neutral by 2040 and its corporate governance is increasingly linked to its ESG management aspects. CDP, an international association of investors that independently assesses the transparency and detail of companies’ climate reporting, lauded E.ON as a Supplier Engagement Leader in 2021. In a bid to bolster the green-power community across Europe, E.ON Home, an energy management app, was introduced in the U.K. Similarly, it claims over 10 million customers received certified green electricity products in 2021.

Incumbent players have reinforced their efforts to underpin the decarbonization of Europe. The company contemplates investing €1 billion (around USD 1 billion) annually through 2026 to significantly boost the infusion of funds into energy networks. It is geared to foster sustainable homes, work, and lifestyles with innovative solutions, including self-generated green electricity. It aims to install approximately 5,000 new charging points through 2026. The Germany-based company plans to pour €27 billion into energy transition through 2026. Furthermore, the company has also upped investments to provide green energy to take carbon neutrality and sustainability to the next level. For instance, in April 2022, E.ON inked a deal with Solar Market to create Green Cloud to offer green energy to corporate customers across Hungary.

The competitive landscape alludes to an increased focus on ESG framework and sustainable policies from forward-looking companies, such as E.ON SE, Adani Green Energy Limited, Equinor ASA, Nextera Energy, Inc., Exelon Corporation, Duke Energy Corporation, Solaria Energía y Medio Ambiente and ReNew Wind Energy (Jath) Limited. Besides, organic and inorganic growth strategies have become pronounced, underscoring solar energy generation market share. To illustrate, in November 2022, Equinor announced the acquisition of BeGreen, a Danish solar developer, to propel the solar PV portfolio. Meanwhile, in April 2022, the Norway energy giant forayed into the Australian market through investments in RayGen to provide impetus to solar energy. In November 2022, Equinor expressed contemplation to augment investment in renewables by two-fold and that renewable energy will account for approximately 20% of the company’s investments in 2022. Amidst the trilemma of the Russia-Ukraine war, energy security, and affordability, emphasis on renewable energy sources could be a game-changer with considerable environmental upsides in solar energy generation.

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About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

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Need expert consultation around identifying, analyzing and creating a plan to mitigate ESG risks related to your business? Let Astra know your concerns and queries, and we can help!