The Growing Importance of ESG in the Bakery Product Industry

Embedding the value of environmental, social and governance (ESG) in the bakery product industry has become a vital cog in augmenting revenue growth and bolstering employee productivity. A strong ESG performance can help industry leaders tap into new markets and attract customers to pay more. That said, status brings responsibility and challenges—air pollution and waste from bakery manufacturing have become pervasive. Oven produces volatile organic compounds (VOCs), including ethanol, while food waste in the landfill releases methane, aggravating global warming. Amidst criticism, buoyant ESG policies could be the silver lining. In 2023, the U.K. Environmental Act 2021 came into full effect, which fosters the U.K. government’s commitment to eliminate food waste in landfill by 2030. 

The food industry has an overarching impact on the planet, society and governance. Reduction of ecological footprint has become instrumental in underpinning the sustainability profile. One of the most rapidly rising segments in the bakery industry is that which offers sustainably raised products. Besides, robust ESG policies can help deal fairly and ethically with stakeholders, deliver value to customers, reinforce communities and provide value for shareholders. 

An increasing chorus of stakeholders has pushed for publishing sustainability/ESG reports and fostering transparency and ethical standards. In the same breath, questions arise:

1. Which ESG issues have garnered headlines among forward-looking companies? 

2. Are companies ramping up efforts to underpin employee safety, reduce carbon footprint and accentuate transparency? 

Kraft Food Bolsters Environmental Stewardship

Climate risks have posed risks as the increasing number of days with extreme heat has led to reduced productivity. Moreover, changing rainfall patterns and scorching heat have triggered wildfires, disrupting economies and killing citizens. ESG goals, including minimizing waste, reducing GHG emissions and making sustainable packaging, have become invaluable to stay ahead of the curve. Kraft Heinz has set an audacious goal of a 20% reduction in waste-to-landfill intensity across manufacturing facilities by 2025.

In 2021, the American food manufacturing company pledged to attain Net-Zero greenhouse gas emissions by 2050. Kraft Heinz collaborated with seven companies in Canada to minimize food waste by 50% by 2025. The company will emphasize regenerative and sustainable practices, procure most electricity from renewable sources and shift to more circular and recyclable packaging. It will also further its efforts to propel scope 3 emission minimization strategies across ingredients, upstream and downstream transportation, packaging, end-of-life and sold products.  

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

Bimbo Bakeries Gains from DEI Initiatives

Stakeholders’ actions on social factors, including conditions employees work under, pay parity and diversity, equity & inclusion, can notably impact shareholders’ returns. Bimbo Bakeries is gearing up to ensure 50% diverse candidate slates—at least 25% racially diverse and a minimum of 25% women; the company laid down the goals to be achieved from 2022 to 2024. The company also requires associates to complete at least 1.5 hours of Racial Equity Strategy Training (REST) annually.

It has established the 2030 ambition to bolster underserved communities, emphasizing economics, education and health assistance. In 2021, Bimbo Bakeries USA (BBU) committed USD 1 million to national and local organizations to propel the financial well-being, education and health of Black and minority Americans. The company provides scholarships and internships through collaboration with the United Negro College Fund.

The reputation of companies largely depends upon their social credibility. In 2020, BBU donated half a million dollars to the COVID-19 Relief Fun of Feeding America. The company donates around 20 million pounds of food to local food banks annually (collaborated with Feeding America). Across the U.S., the bakery firm chooses ten food banks to receive a donation of 5,000 pounds of bread. The prevalence of a safe and inclusive working environment, along with economic assistance, will add value to ESG goals. 

Transparency Pivotal for General Mills to Create Synergy

The financial impact is largely driven by the impact the firm has on the environment and society. In the realm of ESG factors, investors, managers, communities, employees and suppliers have furthered governance pillar to adhere to the law, make effective decisions and keep up with the demand of stakeholders. Consumers are eager to know what is in their bakery products, how they are prepared and where they came from.

General Mills has fostered ingredient sourcing by disclosing information about purchasing Roundtable on Sustainable Palm Oil (RSPO) certified palm oil volumes. The website also includes an updated list of all palm oil suppliers. As of 2022, the company has listed around 1,900 products on smartlabel.org, 319 topics were covered on askgeneralmills.com and 600 products were enrolled in the U.S. Non-GMO Project, according to its 2023 Global Responsibility Report.

A strong ESG proposition warrants the assessment of climate-related risks, opportunities; relationships with the society they do business; and investments in corporate governance that encapsulate firms’ long-term success. Grand View Research indicates that the global bakery products market size could reach USD 251.1 billion by 2025. The billion-dollar industry will emphasize ESG reporting to undergird sustainable bakeries. 

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.

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!

Evaluating ESG Performance 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. 

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

How ESG Principles Can Drive the Growth of the Vegan Cheese Sector

Food businesses wanting to manage risk, enhance their financial performance, adhere to financial regulations and underpin their brand reputation in the vegan cheese industry have banked on ESG. Companies that shun ESG factors may grapple with reputational damage; recent years have witnessed an increasing preference for sustainability fueled by heightened awareness of environmental and social issues. Plant-based cheese has grown mainstream as cheesemakers witness rising diet acceptance and a surge in dairy-free food vloggers.  

An emphasis on sustainable sourcing, treatment of employees, climate change, pollution and internal and external governance can have an overarching influence on long-term financial performance. Animal products, like dairy, notably impact the environment. Consumption of 30g of cheese per day annually can lead to 352kg of GHG emission per year, akin to driving a petrol-fueled car close to 900 miles, notes BBC.

Consumers are counting on the vegan culture to reinforce sustainability. However, investment in products with negative social externalities can be written off. Employees’ satisfaction has a positive correlation with shareholders’ returns. A strong ESG performance will muster up the confidence of employees and workers, boosting productivity. 

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

Upfield Navigates Environmental Impact

The environmental factor has garnered huge headlines, with dairy-free alternatives witnessing a proliferation in demand. Upfield-owned Violife, for instance, reportedly has less than 50% of the climate footprint vis-à-vis dairy cheese (of the same amount). Besides, the company claims its products use less than one-third of the land compared to dairy cheese. Upfield is contemplating eliminating 95% of plastic content from all its packaging and communicating the upsides of plant-based food through labeling carbon emissions on around 500 million packs by 2025. The Dutch food company has set an audacious goal of achieving net zero by 2050 and is committed to being 100% plant-based by 2025.

Daiya Foods Integrates Socially Responsible Practices

An invaluable part of corporate strategy has been a commitment to community, employees, health (emotional wellbeing, social wellbeing and physical wellbeing) and nutrition. Notably, Daiya’s donation to the Kingdom Acts Foundation has helped serve dietary-specific food to families across Vancouver. Furthermore, the food brand’s collaboration with FoodMesh has leveraged donations of 138,872 kg of food and saved 358,291 kg of CO2e emissions. The company asserted that it is poised to be a BCorp-certified organization—a designation for businesses that meet high standards of transparency, accountability and performance on charitable giving, employee benefits, input materials and supply chain practices. 

Kraft Heinz Invests in Good Governance for Sustainable Future

Good governance is indispensable for brands striving to be role models in the plant-based food industry. The board’s competency and diversity, along with investments in transparency, ethics & compliance, can shape the company’s outlook. The Board of Directors at Kraft Heinz oversees its ESG objectives and frameworks on matters, such as animal welfare, climate change, social issues, nutrition and wellbeing.

The ESG team spearheads the ESG Steering Committee engaging with major stakeholders, including community leaders, customers, consumers, employees, stockholders and NGOs. The U.S.-based company updates its ESG materiality assessment with a cloud-based AI software platform to underscore its sustainability strategy. The multinational food company provides ethics and compliance training to its employees on whistleblowing, conflict of interest, due diligence and IT security factors. 

As plant-based food witnesses a tectonic shift, more sustainable, affordable and healthier vegan products could be at the heart of cheese manufacturing. Leading players are championing their strategies to propel the penetration of dairy-free alternatives. The growth outlook is strong: Grand View Research inferred that the global vegan cheese market stood at USD 2.43 billion in 2021 and could observe a 12.6% CAGR between 2022 and 2030. Factors, such as responsible sourcing, environmental stewardship and adoption of socially responsible business practices (with transparency) will bring good governance to life.  

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

Unlocking the Potential: Biomass Power as a Key ESG Solution

 “Carbon neutral, renewable and prevalent” has become synonymous with biomass power. Fossil fuel and industrial processes contribute 65% of greenhouse gas emissions, notes U.S. EPA. Biomass has emerged as an invaluable alternative to petroleum, coal and natural gas. Advanced wood-burning stoves, fireplace inserts and pellet stoves can reduce the amount of particulates from burning wood. 

Industry leaders have furthered their focus on sustainability, workplace diversity, sound corporate behavior, transparency and ethics & compliance. Burgeoning demand for electricity generation, heating and transport fuels has furthered the demand for biomass power, a trend likely to shape the environmental, social and governance (ESG) performance and goals.

An uptick in biomass production has posed challenges and opportunities to provide products and technologies underpinning social and governance pillars in tandem with business activities. Leading players are vying for environmentally friendly solutions for a sustainable future, preferring biomass fuel to coal-based products. In January 2023, Valmet announced converting two coal-fired boilers to boost biomass combustion for Veolia Group's subsidiary in Hungary. The Oroszlány power plant is expected to produce over 600 GWh of renewable electricity. A sustainable response to energy challenges will potentially be observed in the near term. 

Mitsubishi Heavy Industries Vies for Environmental Upsides

Global push to meet the sustainable profile has encouraged incumbent manufacturers to foster their decarbonization strategies with the reduction of water usage, waste generation and CO2 emissions. For instance, Mitsubishi Heavy Industries Group set an environmental target to decarbonize its business activity (scope 1 and 2) by 2040. In fiscal year 2023, the company expects to reduce water usage per unit by 7% and CO2 emissions per unit from plants and offices by 9%. The Japanese-based company has an interim target of minimizing scope 1 & 2 emissions by 50% by 2030 (compared to 2014 levels); and reducing scope 3 emissions by 50% by 2030 (compared to 2019 levels). 

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

Suez Fosters Diversity Culture and Workplace Safety

The need for a workplace environment that underpins social independence and reduces the gender pay gap help companies enhance their ESG rankings. In essence, boosting skills and employee engagement has become a go-to strategy to stay ahead of the curve. Suez is gearing up to leverage 5,000 people annually to gain from vocational integration programs. It also aims for zero serious accidents in occupational health & safety. Additionally, the company is bullish on eliminating the gender gap, with the target of 40% women in management positions by 2027. In 2021, the France-based utility company introduced WO&MEN network to promote gender equality and diversity and expedite shared experience. 

Xcel Energy Accentuates Governance for Clean Energy Goals

Investors, suppliers, manufacturers, employees, customers and other stakeholders rate sound corporate governance highly. To illustrate, Xcel Energy alludes that all the members are independent, non-employee directors (except the Chairman and CEO). The company’s state public utilities commissions gave a green signal to clean energy plans for Colorado and the Upper Midwest, helping retire remaining coal operations and minimizing CO2 emissions 80% by 2030. Its Governance, Compensation and Nominating (GCN) Committee has ESG-related issues and risks responsibility. Investor’s Business Daily, an American newspaper and website, predominantly ranked Xcel Energy among the 100 best ESG companies in 2022. 

The competitive landscape suggests stakeholders could inject funds into the circular economy, technological advancements, innovations, collaborations, mergers & acquisitions to further their ESG plans. The European Commission notes that biomass for energy contributes around 60% as the EU’s primary renewable energy source. Grand View Research reported the global biomass power market size at USD 121,340.76 million in 2021, which could depict a 6% CAGR between 2022 and 2030. 

Browse more ESG Thematic Reports from the Energy 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 Growing Significance of ESG in the Carbon Dioxide Industry

Carbon dioxide (CO2) emissions have become a pressing concern in today's world, with the ever-increasing threat of global warming and climate change. Industries across the globe are now looking for ways to address this challenge while achieving sustainable economic growth. One such industry that plays a pivotal role in combating CO2 emissions is the carbon dioxide industry itself. In this article, we will delve into the Environmental, Social, and Governance (ESG) aspects of the carbon dioxide industry, exploring the trends, challenges, and growth opportunities it presents.

The Importance of ESG in the Carbon Dioxide Industry

The carbon dioxide industry is instrumental in mitigating the impact of high CO2 emissions on the environment. To strike a balance between environmental concerns and low-carbon economic development, carbon markets (a trading system in which carbon credits are sold and bought) have been implemented by many industries. Notably, the oil and gas industry extensively utilizes CO2 gas for enhanced oil recovery. This process improves oil flow and reduces the viscosity of the produced oil. Consequently, the demand for carbon dioxide has surged globally, driven by increased investments in cutting-edge technologies, such as enhanced oil recovery and Carbon Capture and Storage (CCS).

Apart from its use in the oil and gas industry, carbon dioxide finds applications in various sectors. For instance, the medical industry utilizes CO2 in temporary respiratory stimulation and other medical applications. As the medical industry continues to grow, the carbon dioxide market is expected to witness substantial growth.

ESG Trends to Look Out For

The investment community is increasingly interested in leveraging carbon dioxide for the development of sustainable goods and services. The traction stems from the objective of (including but not limited to) reducing climate change and promoting a circular economy. Industry leaders are actively working towards improving the CO2 market by incorporating more environmentally friendly applications. Recent advancements in the industry aim to replace the use of toxic solvents and chemicals with CO2-based alternatives. Processes such as supercritical extraction, dry cleaning, and others utilize CO2 as a solvent, offering eco-friendly alternatives.

Moreover, the use of carbon dioxide in gaseous form can promote plant development in greenhouses, making plants more drought-resistant and water-efficient. The scalable application of CO2 offers climate benefits by utilizing low-carbon energy and replacing products with higher life-cycle emissions.

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

Overcoming ESG Challenges

While ESG presents numerous opportunities for the carbon dioxide industry, it also poses challenges. The market faces low liquidity, limited financing options, inadequate risk-management services, and insufficient data availability. Additionally, the extraction, liquefaction, and transportation of carbon dioxide incur high costs. Solid form transportation is impractical and expensive, consuming more energy than other options. Pipelines emerge as a profitable transportation route for larger volumes of carbon dioxide. However, liquefying CO2 for ship transport and compressing it for pipeline transmission require significant electrical energy. Governments worldwide have developed standards for the safe transportation and storage of carbon dioxide, impacting transportation costs and posing policy and legal risks. 

To address prevailing challenges and meet the objectives of sustainability and economic growth, the creation of a successful voluntary carbon market is pivotal.

The Growth Trajectory of the Carbon Dioxide Market

The carbon dioxide market is experiencing significant growth, driven by various factors. In 2021, the market size was estimated to be USD 3.68 billion, and it is projected to expand at a Compound Annual Growth Rate (CAGR) of 7.3% from 2022 to 2030. The increased deployment of enhanced oil recovery technology, driven by depleting oil supplies and rising dependence on crude oil imports, particularly in the Asia Pacific region, contributes to the growth. Additionally, the food, beverage, and pharmaceutical industries are expected to witness a surge in the use of CO2 for various applications. Modified atmospheric packaging (MAP) frequently utilizes carbon dioxide to increase the shelf life of food products. Cryogenic freezing systems offer greater temperature flexibility compared to mechanical refrigeration systems, impacting the use of CO2 in the food and beverage sector.

Key Companies in the Carbon Dioxide Industry

Several key players operate within the carbon dioxide industry, driving innovation and sustainability. These companies play a vital role in shaping the industry's ESG landscape. Some notable companies include:

1. Acail Gás

2. Air Liquide

3. Air Products

4. Chemicals, Inc.

5. Greco Gas Inc.

6. Linde AG

7. Messer Group

These companies are involved in various aspects of the carbon dioxide industry, contributing to its growth and sustainability.

Conclusion

The carbon dioxide industry plays a crucial role in addressing the challenges posed by CO2 emissions. By embracing ESG principles, the industry can achieve sustainable growth while mitigating the environmental impact. ESG trends in the industry reflect a growing interest in eco-friendly applications of carbon dioxide, offering opportunities for innovation and market expansion. However, challenges related to liquidity, financing, and transportation costs must be addressed for the industry to reach its full potential. The Carbon Dioxide Industry ESG Thematic Report provides valuable insights into the industry's ESG landscape, empowering businesses and investors to make informed decisions and contribute to a sustainable future.

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!

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 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.

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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

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