The Growing Importance of ESG Metrics in Food Grocery Retail Industry

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.

Key Companies:

    • Walmart

    • Costco Wholesale Corp

    • 7-ELEVEN, Inc

    • Amazon.com Inc

    • The Kroger Co.

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.

Related Reports:

• Snack Industry ESG: https://astra.grandviewresearch.com/snack-industry-esg-outlook
  
  
• Dietary Supplements Industry ESG: https://astra.grandviewresearch.com/dietary-supplements-industry-esg-outlook
  
  
• Protein Supplements Industry ESG: https://astra.grandviewresearch.com/protein-supplements-industry-esg-outlook

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 Intersection of ESG and Innovation in the Bottled Water Industry

Concerted efforts to boost water conservation have prompted bottled water brands to bank on environmental, social and governance (ESG) pillars. Maintaining the delicate balance between the ecosystem and human needs will foster environmental sustainability. Brands are vying to bolster their sustainability journey with commitments across packaging, climate change, water and sourcing. Moreover, emphasizing labor management, supply chain labor standards, corporate governance, board diversity and transparency will develop resiliency and help produce high-quality and safe products. 

Prioritizing ESG has become paramount for leading companies to stay ahead of the game amidst stiff competition. Consumers have increasingly sought bottled water. According to the Beverage Marketing Corporation, bottled water outnumbered soft drinks in the U.S., amassing 15.7 billion gallons of water as of 2021. The total volume of packaged drinks surpassed the all-time peak of the carbonated drink of 15.3 billion gallons in 2004. Industry players are expected to bank on the three pillars as ESG reporting is poised to garner headlines while framing sustainable strategies. 

Key Companies in this theme

    • Nestlé, PepsiCo

    • The Coca-Cola Company

    • DANONE

    • Nongfu Spring

    • National Beverage Corp.

    • Keurig Dr Pepper Inc.

Environmental Perspective 

Sustainable packaging solution has received an impetus to negate the environmental impact of plastic bottles. According to the survey conducted by the Harris Poll for the International Bottled Water Association (IBWA), nine out of ten Americans sought the availability of bottled water wherever other drinks were sold. Soaring consumer preference for bottled water has prompted industry leaders to use recycled PET and HDPE plastic.

Prominently, PET bottled water containers have reduced material usage and weigh less. Moreover, rPET (recycled PET) and rHDPE (recycled HDPE) have become pronounced. In February 2023, Revalyu announced an infusion of USD 50 million to build a PET bottle recycling plant in the U.S. The company will use water- and energy-conserving advanced recycling methods on 12 million PET bottles per day when operation starts in 2024. With recyclable and sustainable packaging more in demand than ever, industry leaders will likely bolster their environmental profile. 

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

Social Perspective

Diversity, equity and inclusion (DEI) has become imperative to narrow the gender gap across organizations. Recruiting from diverse backgrounds, social dialogue and emphasizing workplace safety can provide promising growth opportunities. In 2021, Danone rolled out the “Future of Work” study to redefine the ways of working. Besides, it fosters equal pay for men and women and has deployed a parental policy globally, covering 91,628 employees. 

Companies have left no stone unturned to underpin and promote human rights. In 2021, Danone bolstered a partnership with UN Women and Bonafont in Mexico to equip and train women with entrepreneurship skills. The company has propelled its human rights policy as it has pledged to deploy and develop Human Rights Due Diligence (HRDD) systems emphasizing forced labor in its operations. In 2020, it attained the 5-year ambition of reducing lost time accidents by 50% between 2015-2020. Ensuring health & safety with a safe working environment will remain indispensable to streamline operations.

Governance Perspective

The business practices and principles designed to propel corporate governance, tax transparency, ethical behavior, accountability and board diversity have become pronounced. The Coca-Cola Company has an Audit Committee, a Committee on Directors and Corporate Governance, a Talent and Compensation Committee, an ESG and public policy committee, a Finance Committee and an Executive Committee to help smoothly discharge governance duties. 

In 2022, the Talent and Compensation Committee gave the nod to link the ESG performance measures to annual and long-term incentive programs, thereby fostering executive compensation. The beverage giant has also incorporated its 2030 Water Security Strategy and World Without Waste packaging strategy (50% recycled material in all packages by 2030) into the 2022-2024 incentive awards. 

The growing prominence of water security and the need for smart water policies has amplified the topic of water governance. Coca-Cola has incorporated certain ESG metrics to underscore water issues. It has over 225 bottling partners across 200 countries and territories. Moreover, in 2021, the drink company earned a spot on the “A-List” of CDP for leadership in corporate transparency and action on water security. 

Incumbent players have depicted increased traction for organic and inorganic growth strategies to tap into the global ecosystem. Brands are likely to map opportunities from collaboration, technological advancements, innovations and research & development activities. To illustrate, in December 2022, PepsiCo set a goal to double the reusable packaging for beverages to 20% by 2030. These trends suggest that the global bottled water market could expand at 6.7% CAGR between 2022 to 2030. 

Related Reports:

• Luxury Footwear Industry ESG: https://astra.grandviewresearch.com/luxury-footwear-industry-esg-outlook
  
  
• Handbag Industry ESG: https://astra.grandviewresearch.com/handbag-industry-esg-outlook
  
  
• Disposable Gloves Industry ESG: https://astra.grandviewresearch.com/disposable-gloves-industry-esg-outlook

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 Reporting in the Bottled Water Industry

Concerted efforts to boost water conservation have prompted bottled water brands to bank on environmental, social and governance (ESG) pillars. Maintaining the delicate balance between the ecosystem and human needs will foster environmental sustainability. Brands are vying to bolster their sustainability journey with commitments across packaging, climate change, water and sourcing. Moreover, emphasizing labor management, supply chain labor standards, corporate governance, board diversity and transparency will develop resiliency and help produce high-quality and safe products. 

Prioritizing ESG has become paramount for leading companies to stay ahead of the game amidst stiff competition. Consumers have increasingly sought bottled water. According to the Beverage Marketing Corporation, bottled water outnumbered soft drinks in the U.S., amassing 15.7 billion gallons of water as of 2021. The total volume of packaged drinks surpassed the all-time peak of the carbonated drink of 15.3 billion gallons in 2004. Industry players are expected to bank on the three pillars as ESG reporting is poised to garner headlines while framing sustainable strategies. 

Key Companies in this theme

    • Nestlé, PepsiCo

    • The Coca-Cola Company

    • DANONE

    • Nongfu Spring

    • National Beverage Corp.

    • Keurig Dr Pepper Inc.

Environmental Perspective 

Sustainable packaging solution has received an impetus to negate the environmental impact of plastic bottles. According to the survey conducted by the Harris Poll for the International Bottled Water Association (IBWA), nine out of ten Americans sought the availability of bottled water wherever other drinks were sold. Soaring consumer preference for bottled water has prompted industry leaders to use recycled PET and HDPE plastic.

Prominently, PET bottled water containers have reduced material usage and weigh less. Moreover, rPET (recycled PET) and rHDPE (recycled HDPE) have become pronounced. In February 2023, Revalyu announced an infusion of USD 50 million to build a PET bottle recycling plant in the U.S. The company will use water- and energy-conserving advanced recycling methods on 12 million PET bottles per day when operation starts in 2024. With recyclable and sustainable packaging more in demand than ever, industry leaders will likely bolster their environmental profile. 

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

Social Perspective

Diversity, equity and inclusion (DEI) has become imperative to narrow the gender gap across organizations. Recruiting from diverse backgrounds, social dialogue and emphasizing workplace safety can provide promising growth opportunities. In 2021, Danone rolled out the “Future of Work” study to redefine the ways of working. Besides, it fosters equal pay for men and women and has deployed a parental policy globally, covering 91,628 employees. 

Companies have left no stone unturned to underpin and promote human rights. In 2021, Danone bolstered a partnership with UN Women and Bonafont in Mexico to equip and train women with entrepreneurship skills. The company has propelled its human rights policy as it has pledged to deploy and develop Human Rights Due Diligence (HRDD) systems emphasizing forced labor in its operations. In 2020, it attained the 5-year ambition of reducing lost time accidents by 50% between 2015-2020. Ensuring health & safety with a safe working environment will remain indispensable to streamline operations.

Governance Perspective

The business practices and principles designed to propel corporate governance, tax transparency, ethical behavior, accountability and board diversity have become pronounced. The Coca-Cola Company has an Audit Committee, a Committee on Directors and Corporate Governance, a Talent and Compensation Committee, an ESG and public policy committee, a Finance Committee and an Executive Committee to help smoothly discharge governance duties. 

In 2022, the Talent and Compensation Committee gave the nod to link the ESG performance measures to annual and long-term incentive programs, thereby fostering executive compensation. The beverage giant has also incorporated its 2030 Water Security Strategy and World Without Waste packaging strategy (50% recycled material in all packages by 2030) into the 2022-2024 incentive awards. 

The growing prominence of water security and the need for smart water policies has amplified the topic of water governance. Coca-Cola has incorporated certain ESG metrics to underscore water issues. It has over 225 bottling partners across 200 countries and territories. Moreover, in 2021, the drink company earned a spot on the “A-List” of CDP for leadership in corporate transparency and action on water security. 

Incumbent players have depicted increased traction for organic and inorganic growth strategies to tap into the global ecosystem. Brands are likely to map opportunities from collaboration, technological advancements, innovations and research & development activities. To illustrate, in December 2022, PepsiCo set a goal to double the reusable packaging for beverages to 20% by 2030. These trends suggest that the global bottled water market could expand at 6.7% CAGR between 2022 to 2030. 

Related Reports:

Luxury Footwear Industry ESG: https://astra.grandviewresearch.com/luxury-footwear-industry-esg-outlook

Handbag Industry ESG: https://astra.grandviewresearch.com/handbag-industry-esg-outlook

Disposable Gloves Industry ESG: https://astra.grandviewresearch.com/disposable-gloves-industry-esg-outlook

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 and Future Trends in the Life Science Analytics Industry

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.

Related Reports:

• Clinical Trials Industry ESG: https://astra.grandviewresearch.com/clinical-trials-industry-esg-outlook
  
  
• Antibiotics Industry ESG: https://astra.grandviewresearch.com/antibiotics-industry-esg-outlook 
  
  
• Biotechnology Industry ESG: https://astra.grandviewresearch.com/biotechnology-industry-esg-outlook

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 in the Antibiotics Sector: A Comprehensive Guide for Investors

C-suite executives and board members in the antibiotics industry have become increasingly aware of ESG and how it affects their strategy, companies’ future performance and their value. An ominous rise of antibiotic-resistant bacteria has sent shockwaves among manufacturers, compelling them to integrate ESG into their business operations. The Lancet noted in its 2021 study that antibiotics helped minimize the mortality of under-fives to 39 deaths (from 216) per 1,000 live births between 1950 and 2017. Meanwhile, the overuse of antibiotics has led to a notable outcry towards the emergence and prevalence of antimicrobial resistance (AMR). Citing the Global Research on AntiMicrobial Resistance (GRAM), the Lancet (in January 2022) suggested at least 1.27 million people succumbed to AMR in 2019.

Amidst havoc wracked by antibiotic resistance, traction for impact investing, socially responsible investing and the European Sustainable Finance Disclosure Regulation (SFDR) have risen by leaps and bounds. A report by the World Bank claimed that by 2050, drug-resistant infections could cause global economic damage akin to the 2008 financial crisis, while healthcare costs could soar to USD 1 trillion. 

Stakeholders are relying on impact investing to have a positive impact on the environment and society and generate financial returns. Besides, the adoption of science-based targets, commitment to reduce carbon footprint, investments in transparency, ethics, diversity and health & wellbeing will be a step forward towards adopting ESG best practices. 

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

Pfizer Inc. Invests in Environmental Initiatives for Value Creation

A robust ESG proposition can help organizations expand into existing markets and tap new ones. Industry leaders’ emphasis on reducing carbon footprint, minimization of waste and resource conservation have topped their agenda. Pfizer, for example, has set an audacious target of minimizing scope 1 and 2 GHG emissions by 46% (from a 2019 baseline) by 2030. In 2022, the company claimed to have eradicated around 50,000 mt of GHG emissions by transitioning other product shipments from air to ocean. Besides, in November 2022, the U.S.-based company contemplated joining “Activate,” a collective action initiative, to underscore decarbonization of major sources of GHG emissions in the pharmaceutical value chain. 

Pfizer is gearing up to limit the discharge of active pharmaceutical ingredients (from manufacturing processes to wastewater) using emission control practices and technologies and environmental risk assessment methodologies. The behemoth asserts it is on course to achieve the industry-published targets (Predicted No Effect Concentrations) for antibiotics by 2025.  

Merck Roots for Diverse, Inclusive and Healthy Workforce

At a time when the world is recuperating from COVID-19 and combating inequities in health outcomes, medicines and vaccine accessibility and affordability have become a vital cog in expanding healthcare access. Merck is emphasizing granting voluntary licenses to generic manufacturers and to the Medicines Patent Pool to make generic treatment available in over 100 low- and middle-income countries, provided local regulatory agencies give the nod and emergency authorization. It has also taken a giant leap in fostering diversity, equity and inclusion (DEI). The multinational company alluded to a 5% rise in the representation of underrepresented ethnic groups (UEGs) from 2020 to 2021. The pharmaceutical player is pushing for gender parity in leadership positions by 2030 and has ramped up the share of women (in leadership positions) to 38% in 2022. 

The healthcare giant has expanded its employee networks with (including but not limited to) Rainbow Networks, Inclusion Networks, Well-being Communities and Women Networks. Rainbow Networks, for example, boosts an inclusive and safe environment and community where LGBTQ+ employees and allies are “recognized and valued.” In its 2022 Sustainability Report, Merck noted that the Uhlala Group chose them as one of the top 11 large companies in the LGBTIQ+ Diversity Performance Index. 

AbbVie Counts on Governance for Success in the Boardroom

The confluence of environmental, social and governance pillars has allowed companies not only to survive but also thrive. To put this in perspective, strong corporate governance has become second to none to stay cut above the rest and build a culture of ethical behavior. In the 2022 ESG Action Report, AbbVie inferred that ten of its eleven directors were independent. The company claims that 99% of assigned employees are certified to the AbbVie Code of Business Conduct. The American pharmaceutical company has reinforced the risk assessment process by establishing an annual risk landscape, while the assessment results and mitigation plans are formally documented biannually. 

Ethical decision-making and transparency are instrumental in promoting accountability, quality, integrity and safety. AbbVie exhorted in the report that it assesses its efforts in line with the United Nations Sustainable Development Goals (UN SDGs), the Task Force on Climate-Related Financial Disclosures (TCFD), Carbon Disclosure Project (CDP), the Sustainability Accounting Standards Board (SASB) and the S&P Global Corporate Sustainability Assessment. In 2023, the company took a meaningful step by updating its TCFD report to foster governance and strategy efforts to manage climate risks and highlight “approved” science-based targets to the Science Based Targets initiative. Besides, in 2022, it rolled out an “Acting with Integrity” initiative to undergird ethical and compliant behavior.  

ESG Matters

ESG strategies have turned out to be an invaluable portfolio for responsible investors. Companies that care about their customers, people and environment can outperform their peers. A sustainable approach will help organizations enhance health outcomes, create shared value, make a positive impact on society and build trust. In November 2023, Melinta Therapeutics and Venatorx Pharmaceuticals entered into a license agreement to commercialize cefepime-taniborbactam in the U.S. The collaboration comes against the backdrop of the latter’s submission of a new drug application for cefepime-taniborbactam for the treatment of complicated urinary tract infections (cUTI). With ESG gaining traction globally, Grand View Research has predicted the antibiotics market will grow at 4.5% CAGR between 2021 and 2028.

Related Reports:

• Pharmaceutcial Manufacturing Industry ESG: https://astra.grandviewresearch.com/pharmaceutical-manufacturing-industry-esg-outlook
  
  
• Brain Health Supplement Industry ESG: https://astra.grandviewresearch.com/brain-health-supplement-industry-esg-outlook
  
  
• Clinical Trials Industry ESG: https://astra.grandviewresearch.com/clinical-trials-industry-esg-outlook

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.

Read More ESG Blogs

 

The Role of Stakeholder Engagement in Advancing ESG in Plastic Package Industry

The ubiquity of plastic package has put the spotlight on environmental, social and governance (ESG) as industry leaders take a leap towards decarbonization and circular economy. Incumbent manufacturers are harnessing sustainable packaging solutions to protect the environment, foster the planet and underscore society. There is no denying that packaging ensures product quality and safety; however, pervasive plastic pollution has been the major bottleneck towards sustainability goals.

According to UNEP, humanity produces over 430 million tons of plastic annually, while 280 million tons of short-lived plastic products become waste. Moreover, the packaging sector is the largest generator of plastic waste — the figure is likely to be logged at 1,014 million metric tons of plastic waste per year in 2060. Besides, the Ellen MacArthur Foundation claims 20 trillion flexible packaging items, including sachets and pouches, would end up in the ocean by 2040, provided regulator measures and binding policy are not taken.

Governing bodies and watchdogs are leaving no stone unturned to underscore socially responsible investment (SRI). ESG reporting can have a considerable impact on the strategies and operations of the firm, prompting leaders to advance toward the circular packaging economy.

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

Mondi Harnesses Challenges & Opportunities with Climate Change

Companies with high ESG ratings tend to plan better for the future and boost returns. Predominantly, investors, insurers and lenders are eager to know how organizations are responding to environmental changes, the emergence of technology and customer behavior shifts. In essence, Mondi is on track to minimize specific waste to landfill by 30% by 2030. The U.K.-based company is gearing up to create 100% reusable, recyclable, or compostable plastic packaging by 2025. The global giant has undergirded recyclability with an emphasis on structures with 30–50% material made from post-consumer resin (PCR). In doing so, it will work with recyclers to enhance the quality of the recycled resins, remove hard-to-recycle components and redesign packaging to mono-material solutions.

Amcor Uncovers Future-Driven Approach Keeping People at the Center

Businesses are increasingly emphasizing social goals to enhance financial performance, manage risk, boost reputation and comply with regulations. A commitment to inclusion and diversity, employee health & wellness, product safety and employee training can help companies build stronger relationships with stakeholders. The community pillar at Amcor has formed a global network of representatives to bolster the deployment of the company’s DEI (diversity, equity and inclusion) agenda. It also conducted OurVoice@Amcor global feedback survey in FY 2023 to launch programs for more employee-centric and future-focused workplaces. Besides, Amcor went on to onboard more than 40 Afghans and about a dozen of Congolese team members in one year.

Coveris Adds Value through Governance

Robust corporate governance practices have become second to none in maintaining accountability, mitigating risks and fostering performance. In essence, sound risk management, ethics & compliance, transparency and board diversity can have a notable impact on brand reputation, financial condition and business operations. Coveris asserts it complies with tax laws, human trafficking, tax laws and regulatory compliance. According to the UK Tax Disclosure Policy published by Coveris on November 10, 2023, the senior management of the UK entities manages and controls the tax function (and related risks). The policy suggests the UK Group does not facilitate/tolerate tax evasion and it may claim properly available allowances, incentives, exemptions, credits, or other government-granted reliefs.

Making a Difference with ESG Reporting

Stakeholders, including customers, manufacturers, suppliers, governments and NGOs, are developing recyclable materials, fostering sustainable packaging for strength, safety and barrier attributes. Authentic information on the environmental footprint, contribution to society, tax transparency and corruption will place companies cut above the rest.

ESG reporting has become the silver lining amidst brands striving to enhance their position in the competitive market. Companies disclosing environmental data can assess the impact of plastic packaging, commit to proactive action and report on progress with transparency. In April 2023, CDP announced that it would add plastics to its environmental disclosure system for the first time, leveraging 6,743 organizations to disclose their plastic-related impacts, including that of plastic packaging.

As stakeholders embed ESG in roles, activities and responsibilities, companies are bullish towards investments in plastic circular economy, health & wellbeing, DEI and product and employee safety. The global plastic package market size, pegged at USD 355 billion in 2021, could depict around 4.2% CAGR between 2022 and 2030, according to Grand View Research. With suppliers and manufacturers making strides to meet packaging goals, the spotlight will continue to remain on socially responsible investing.

Related Reports:

• Green Packaging Industry: https://astra.grandviewresearch.com/green-packaging-industry-esg-outlook
  
  
• Bioplastics Industry: https://astra.grandviewresearch.com/bioplastics-industry-esg-outlook
  
  
• Recycled Plastic Industry: https://astra.grandviewresearch.com/recycled-plastic-industry-esg-outlook

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 leve

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!

ESG Investing and the Legal Services Sector

The global legal services industry has witnessed a significant shift in recent years, with a growing emphasis on sustainability and responsible business practices. As corporations, governments, and consumers strive to make a positive impact, the integration of Environment, Social, and Governance (ESG) principles into the legal sector has become a key trend. Through the adoption of advanced technologies and a focus on sustainability, the industry is not only enhancing efficiency but also contributing to the United Nations Sustainable Development Goals (UNSDG). In this article, we will explore the role of ESG in the legal services ecosystem, examine key trends, discuss the growth of the market, and highlight the initiatives taken by industry leaders to promote sustainability.

Embracing Technology for Sustainability

The legal service has undergone a significant transformation thanks to advancements in technology. The integration of Artificial Intelligence (AI) and Machine Learning (ML) has revolutionized traditional legal practices, making them more efficient and sustainable. Technologies like contract lifecycle management software have reduced the reliance on logistics, thereby minimizing the carbon footprint associated with transportation and contributing to the UNSDG goal of climate action (SDG 13). By streamlining processes and reducing the use of physical resources, advanced technologies have become instrumental in promoting sustainability within the industry.

Moreover, the adoption of state-of-the-art technology has improved the governance aspect of ESG across various industries. Disputes can now be resolved more efficiently, reducing the risk of damaging the corporate governance goodwill. Alternative dispute resolution services provided by key players not only cut costs but also ensure privacy for corporate consumers, further enhancing the governance aspect of ESG.

In addition to dispute resolution, legal service providers offer advisory services on compliance and corporate governance frameworks. These services assist companies in adhering to legal frameworks and promoting peace and justice, aligning with the UNSDG goal of Institutions for Peace and Justice (SDG 16). By providing guidance on regulatory compliance, service providers contribute to the establishment of fair and just business practices.

However, the integration of technology also brings certain risks that can adversely impact the governance aspect of ESG within the industry. Law firms often rely on third-party software for tasks such as contract drafting, which pose risks related to data security and breaches. Data breaches not only have financial implications but also undermine the governance aspect, affecting both companies and their clients.

To mitigate these risks, industry leaders have implemented relevant policies to protect against data breaches. By giving consumers more control over their data, service providers are improving the governance aspect of ESG and instilling trust in the industry.

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

Growth and Outlook of the Legal Services Market

The global legal services market has experienced steady growth in recent years and is projected to expand further in the coming years. As of 2021, the market is valued at USD 901.8 billion and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2022-2030. One of the key factors driving this growth is the increasing demand for resolving disputes among corporates. The industry plays a vital role in providing guidance on the governance aspect of ESG, thereby promoting the UNSDG goal of peace and justice.

Furthermore, the usage of technology for mitigating legal risks and resolving disputes amicably aligns with the goal of institutions for peace and justice. While the industry continues to face challenges related to data protection and privacy, efforts are underway to address these issues and ensure sustainable growth.

Key Companies Leading the Way in ESG

Several key players in the legal services industry have taken significant initiatives to promote ESG principles and sustainability. Let's take a closer look at some of these companies:

• Baker & McKenzie: A global law firm that has integrated ESG practices into its operations. The firm emphasizes sustainability and responsible business practices, contributing to the achievement of the UNSDGs. Notably, the firm asserts that 45% of organizations are emphasizing retention of underrepresented groups and 51% of diversity leaders have termed recruiting diverse talent as a “priority.”

• Clifford Chance LLP: Known for its commitment to sustainability, Clifford Chance LLP has implemented various initiatives to promote ESG within the legal industry. The firm's efforts include advising clients on ESG matters and incorporating sustainability considerations into its own operations. The law firm has delivered 1,610

legal skills training courses in FY23 ( provided by the Global Clifford Chance

Academy).

• Deloitte: As a leading professional services firm, Deloitte recognizes the importance of ESG. The firm provides comprehensive ESG solutions, assisting clients in aligning their business practices with sustainability goals.

• DLA Piper: DLA Piper is committed to integrating ESG principles into its business portfolio. In 2022, the company set a bullish target of becoming a Net Zero law firm, while it contemplates reducing emissions by 90% across all three scopes by 2040. The firm focuses on advising clients on sustainability-related matters, including environmental compliance, social responsibility, and corporate governance.

• Ernst & Young (E&Y): E&Y is actively engaged in promoting ESG practices within the industry. The firm offers ESG advisory services, helping clients navigate the complexities of sustainability and responsible business practices.

In conclusion, law firms are embracing ESG principles to create a sustainable future. Through the integration of technology, the sector is becoming more efficient, while also contributing to the UNSDGs. Key players in the industry are taking initiatives to promote sustainability and responsible business practices. With the market poised for growth, the adoption of ESG practices will continue to shape the future of the legal services industry.

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.

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!

                                                         Read More ESG Blogs

Textile Industry ESG Insights: Unveiling Sustainable Future

Textile is at the vanguard position as innovators and industry leaders navigate sustainability challenges and opportunities. After more than a decade of gradual growth in the use of the term environmental, social and governance (ESG) from its inception in 2006, traction has zoomed dramatically over the past few years. Assessing socially responsible investment has become instrumental for textile manufacturers and investment managers to quantify the business value of sustainability risks and opportunities. In July 2023, the European Environment Agency inferred that textile consumption in the EU led to a carbon footprint of around 270 kg (per average person). 

The textile industry is infamous for being the major source of waste and pollution, aggravated by overproduction and overconsumption of clothes and poor working conditions. It is high time regulators and businesses capitalize on the prevailing opportunities stemming from the circular economy.  

Concerted efforts toward integrating ESG scope in manufacturing, sourcing, processing, packaging, and fabric care can provide the silver bullet amidst the release of harmful effluents. The urgency for decisions and actions to underpin energy management, water management, sustainable product development, waste reduction, employee health & wellbeing, labor management, social opportunity, board diversity and business ethics can steer manufacturers’ trajectory towards a circular economy. 

Investors and other stakeholders are taking significant strides against the backdrop of the unprecedented health and economic impact of the COVID-19 pandemic. Commitment to ethical production, transparency and sourcing of raw materials could be pronounced in the ensuing period. 

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

Solvay Becomes Future-Ready with Environmental Footprint Reduction

At a time when watchdogs, such as the Intergovernmental Panel on Climate Change (IPCC), have warned of surging global temperatures, leading companies are leaving no stone unturned to surmount the prevailing challenges and environmental threats. To illustrate, Solvay is contemplating minimizing the environmental impact of its operations by 2030 (at a planetary scale). The chemical company reportedly has 59 emission reduction projects and it has raised the 2030 GHG emissions reduction target to 30%. Furthermore, the Belgian company has an audacious carbon neutrality target for scope 1 & 2 before 2050, while the company has revved up efforts toward net zero emissions—with a target to cut scope 3 GHG emissions by 24% by 2030. 

DBL Group Prioritizes Workforce Culture and Community

Incumbent players are reflecting and fostering diversity and a culture of meritocracy & inclusivity, making the diverse spectrum of identities, experiences and perspectives a force to reckon with in the work culture. Macroeconomic and sociopolitical challenges have furthered the need for assessment of labor practices and grievance mechanisms. For instance, DBL Group has reinforced efforts on the Tree Plantation Program and emphasized the Zero Discharge of Hazardous Chemicals Program to enhance the quality of wastewater discharged through the Effluent Treatment Plants (ETPs), minimizing the negative impact on the community. 

The Bangladesh-based company has a bullish target of having 20% female employees at the management level by 2025—it claims to be one of the fifteen companies listed by the UN Global Compact that are officially involved in Target Gender Equality, contributing to Sustainable Development Goal 5.5.

INVISTA Invests in Corporate Governance

Textile behemoths, regulators and consumers have furthered their focus on business ethics, anti-competitive practices, tax transparency, board pay, corruption & instability, financial system instability and board diversity. Predominantly, INVISTA has emphasized compliance and accountability, while its code of conduct places responsibility to conduct commercial activity with integrity and lawfully. Moreover, it has internal processes to identify, assess, resolve and manage risks that may stem from the interpretation of tax law or the nature of compliance obligations. The company has also fostered its efforts to resolve conflict of interest, suggesting reporting to compliance and ethics resources or a supervisor. 

Whether it is bridging a gender gap, propelling a vibrant workforce, measuring sustainability performance, or tracking progress, the use of ESG tools and software will become second to none to attain sustainability goals and enhance workflow. For instance, streamlining internal audit processes across business units can be the backbone of a robust company structure. 

Right Time to be the Innovators and not Laggards

Forward-thinking organizations are gearing up to be the leaders within the industry—a commitment to transparency, sourcing of cotton and fibers and efforts on ethical production—may place them cut above the rest. Textile companies and brands are injecting funds into sustainability and innovations. The growth outlook appears to be robust. The global textile market size was pegged at USD 1,000 billion in 2020 and it is slated to expand at around 4.4% CAGR from 2021 to 2028. The projection alludes that the time is ripe for manufacturers, suppliers and other stakeholders to embrace ESG to stay ahead of the curve. 

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.

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!

                                                         Read More ESG Blogs

ESG Investing in the Wearable Medical Device Sector

The wearable medical device industry is revolutionizing healthcare by combining technology, innovation, and accessibility. These devices have the potential to enhance patient monitoring, improve treatment outcomes, and empower individuals to take control of their health. In this blog post, we will explore the Environmental, Social, and Governance (ESG) aspects of the wearable medical device industry and how it is advancing healthcare while upholding sustainable and responsible practices.

Environmental Impact:

The industry is increasingly focused on using sustainable and eco-friendly materials in the production of wearable medical devices. Companies are exploring options like biodegradable plastics, recycled materials, and low-impact manufacturing processes to minimize their environmental footprint. Wearable devices are designed to be energy-efficient, prolonging battery life and reducing the need for frequent replacements. By optimizing power consumption and utilizing rechargeable batteries, the industry promotes energy conservation and reduces electronic waste.

Social Responsibility:

Wearable medical device companies prioritize patient well-being by developing devices that are comfortable, non-invasive, and user-friendly. These devices empower individuals to actively participate in their healthcare, promoting patient engagement and improved health outcomes. The industry is working towards ensuring that wearable medical devices are accessible and affordable to a wide range of users. This inclusivity allows individuals from different socioeconomic backgrounds to benefit from these technologies, reducing healthcare disparities.

Governance and Ethical Practices:

Wearable medical device companies place a strong emphasis on protecting patient data. They implement robust privacy measures, secure data storage, and adhere to relevant regulations to safeguard sensitive information. ESG-conscious companies in the industry adhere to strict regulatory standards and demonstrate compliance with applicable laws and regulations. They prioritize patient safety, transparency, and ethical practices in their manufacturing, marketing, and distribution processes.

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

ESG Trends

- Wearable medical devices are appealing to investors due to their social and environmental benefits

- Companies in the industry promote digital well-being, promoting diversity, inclusion, and good health to every demographic group

- Top companies and start-ups in the space are improving home healthcare by engaging people in online mentoring and training programs

- Wristbands help in assessing body mass index through real-time tracking of activities and promoting continuous monitoring of chronic diseases and fertility cycles

- The sector delivers far-reaching advantages in achieving UN SDGs such as Good Health and Well-being and Gender Equality.

ESG Challenges

- High cost of maintenance for wearable medical devices is a major challenge for companies in the industry

- Expansion of distribution channels is critical for industry growth due to demand for self-monitoring and assessing devices

- Investors are focusing on investment opportunities to create digital frameworks to promote good health and well-being

- Major wearable medical device companies have strategies to advance access to digital ownership and economical access to internet support.

Growth of Wearable Medical Device Market

In 2021, the global wearable medical device market size was valued at USD 21.3 billion and is expected to expand at a compound annual growth rate (CAGR) of 28.1% from 2022 to 2030. In 2020, North America recorded a major revenue share of 38.1% within this region, corresponding to the expansion in the popularity of cardiovascular disorders, cancer, and diabetes.

For the Asia Pacific region, the market is looking forward to observing the exponential increase over the speculated period with the major factors in this region being the affirmative government strategies for the utilization of wearable medical devices, rise in the geriatric population group, and enhanced healthcare expenses.

Key Companies in this theme

•          Philips Electronics
•         Fitbit
•          Basis Science
•          Garmin
•          Covidie

The wearable medical device industry is at the forefront of healthcare innovation, leveraging technology to improve patient monitoring and empower individuals to actively manage their health. By embracing ESG principles, this industry demonstrates a commitment to sustainability, social responsibility, and ethical governance. As consumers, healthcare providers, and investors, we can support this journey by advocating for sustainable and accessible healthcare solutions, demanding data privacy and security, and choosing wearable medical devices that align with our ESG values. Together, we can drive positive change and shape a healthier and more sustainable future for healthcare.

Browse more ESG Thematic Reports from the Healthcare 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 Importance of Waste Recycling Services in Achieving ESG Goals

Welcome to our ESG-focused blog, where we delve into the Waste Recycling Services Industry and its journey towards sustainability. As the world grapples with the challenges of waste management and environmental conservation, it is crucial for this industry to prioritize Environmental, Social, and Governance (ESG) considerations. Let's explore the key aspects of ESG that the Waste Recycling Services Industry should embrace.

Environmental Sustainability:

The Waste Recycling Services Industry plays a critical role in minimizing waste, conserving resources, and reducing environmental impact. By investing in advanced recycling technologies, optimizing waste collection and sorting processes, and promoting circular economy principles, companies can contribute to a greener future.

Social Responsibility:

Promoting social inclusion and community engagement is vital for the Waste Recycling Services Industry. By creating employment opportunities, supporting local communities, and collaborating with stakeholders, companies can generate positive social impacts and foster sustainable development.

Governance and Ethics:

Transparent and ethical practices are essential for building trust and credibility within the Waste Recycling Services Industry. Adhering to regulatory requirements, ensuring responsible waste disposal, and prioritizing health and safety standards are crucial aspects of governance that companies should prioritize.

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

Growth of the Waste Recycling Services Market

The global waste recycling services market size to be valued at USD 81.3 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% during the forecast period. During the forecast period, it is expected that growing consumer awareness of the advantages of waste recycling will have positive impact on the market growth.

The adoption of strict rules has accelerated waste recycling research and development efforts, which is anticipated to foster market expansion throughout the forecast period. There have been many different disposal methods and procedures developed because of growing knowledge about the importance of efficient waste disposal for the protection of both human and animal health.

High levels of toxic substances found in trash, including metals and salts, have forced waste-generating businesses to promptly recycle or dispose of the material. Global domestic housing demand is expected to be driven by urban population expansion and rising disposable incomes. Improvements to the housing market will therefore increase the uptake of these recycling services, which will in turn spur market expansion over the projection period.

Key Companies in this theme

    • Eurokey recycling ltd.

    • Northstar recycling

    • Triple M Metal LP

    • Amdahl corp.

    • Interface inc.

    • Covanta

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

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