Sustainability in the Mental Health Apps Industry: ESG Trends

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

Environmental Considerations:

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

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

Social Impact:

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

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

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

Governance Practices:

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

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

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

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

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

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

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

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

Growth of the Mental Health Apps Market

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

Key Companies in this theme

    • Mindscape, Calm

    • Mood Mission Pty Ltd.

    • Sanvello Health

    • Headspace Inc.

    • Flow

    • Youper, Inc.

Conclusion:

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

About Astra – ESG Solutions By Grand View Research

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

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

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

Digital Health Companies Leading the Way in ESG

The digital health industry has a significant impact on the environment, society, and governance (ESG) factors. With the increasing demand for healthcare services, the industry is faced with the challenge of balancing the need for quality care with sustainable operations. In this blog post, we'll explore some of the key ESG considerations in the digital health industry.

Environment:

The digital health industry has the potential to significantly reduce the carbon footprint of healthcare services. Online consultations and digital health platforms can help reduce the need for patients to physically travel to healthcare facilities, reducing transportation-related emissions. Additionally, digital health solutions can reduce the amount of paper used in healthcare, leading to reduced deforestation and waste. However, the industry must also ensure that the production and disposal of electronic devices used in healthcare do not have negative environmental impacts.

Society:

Digital health solutions have the potential to improve healthcare access and outcomes, particularly for underserved communities. Telemedicine and remote monitoring technologies can help bridge gaps in healthcare access, enabling patients to receive care regardless of their location. Additionally, digital health solutions can help reduce healthcare costs, making it more affordable for patients. However, the industry must address issues of data privacy and security to ensure that patient information is protected.

Governance:

The digital health industry must adhere to regulatory requirements and ethical standards to ensure patient safety and trust. Companies must ensure that their products and services are compliant with relevant laws and regulations. Additionally, companies must be transparent about their data collection and usage practices, and ensure that patients have control over their data. Companies must also address issues such as bias in healthcare algorithms to ensure fair and equitable access to care.

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

The digital health industry is a rapidly growing and diverse field, with a wide range of companies operating in various sectors. Here are some key companies in the digital health industry:

1. Cerner Corporation: Cerner is a healthcare technology company that offers electronic health record (EHR) solutions, population health management tools, and clinical decision support systems.

2. Apple: Apple is a technology company that has recently expanded into the healthcare sector, offering wearable health tracking devices, health data management tools, and telehealth solutions through its Health app and Apple Watch.

3. Allscripts: Allscripts is a healthcare technology company that offers electronic health record (EHR) solutions, population health management tools, and patient engagement solutions. The company has made sustainability a priority, with a focus on reducing the environmental impact of its operations. Allscripts has set targets to reduce greenhouse gas emissions, water consumption, and waste generation, and has implemented sustainability programs across its business operations.

4. Telefónica S.A.: Telefónica is a multinational telecommunications company that has expanded into the digital health sector, offering connected health solutions and telemedicine services. The company has made efforts to address environmental impacts through its "Green ICT" program, which aims to reduce its carbon footprint and promote sustainable business practices. Telefónica has also prioritized social impact, with a focus on digital inclusion and promoting access to healthcare services for underserved communities.

5. McKesson Corporation: McKesson is a healthcare services and technology company that offers pharmaceutical distribution, medical supplies, and health IT solutions. The company has made sustainability a priority, with a focus on reducing its environmental impact and addressing social and governance issues. McKesson has set targets to reduce greenhouse gas emissions, water consumption, and waste generation, and has implemented sustainable sourcing practices across its supply chain. The company has also prioritized social impact, with a focus on promoting diversity and inclusion, ethical business practices, and community engagement.

6. Orange: Orange is a telecommunications company that has expanded into the digital health sector, offering connected health solutions and telemedicine services. The company has made efforts to address environmental impacts through its "Green IT" program, which aims to reduce its carbon footprint and promote sustainable business practices. Orange has also prioritized social impact, with a focus on digital inclusion and promoting access to healthcare services for underserved communities.

ESG Challenges

- Accessibility is a major challenge for the digital health market globally, with 50% of people lacking remote internet access and a lack of diversity and inclusion.

- Cybersecurity and interoperability of data are also a barrier, leading to poor quality data and potential security vulnerabilities.

Growth of the Digital Health Market 

In 2021, the global Digital Health market size was valued at USD 175.6 billion and is projected to expand at a compound annual growth rate (CAGR) of 27.7% from 2022 to 2030. The sector is identified to observe a year-on-year growth of between 21.2% to 29.8% post-Covid-19 in the coming five years. Factors driving growth include smartphone penetration, internet connectivity, increasing healthcare expenditures, and accessibility of virtual care. Healthcare professionals and patients are voluntarily adopting telehealth options to avoid in-person consultations.

About Astra – ESG Solutions By Grand View Research

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

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

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

Sustainable Practices in the Food Grocery Retail Sector

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

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

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

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

Walmart Echoes Green Growth

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

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

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

Kroger Insists on Food & Product Safety to Bolster Philanthropy

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

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

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

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

Costco Wholesale Underscores Corporate Governance

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

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

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

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

Growth Of The Food Grocery Retail Market

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

About Astra – ESG Solutions by Grand View Research

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

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

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

ESG Reporting in the E-commerce Sector

The Environmental, Social, and Governance (ESG) approach is not only important in risk approaches such as risk avoidance but has significant impact on financial growth. The e-commerce sector has seen tremendous growth in recent years since they sell millions of products every day through e-commerce platforms. This has continued to increase post the Covid pandemic as people’s shopping behavior has changed dramatically. The change in shopping preferences has increased the responsibility of e-commerce retailers to make everyday products safer and more sustainable. This means effectively managing a company’s goals in line with ESG initiatives.

ESG activities in e-commerce are crucial for consumer choice. A fire at a retailer's logistics center led to a boycott due to poor labor practices. Covid-19 pandemic helped online shopping businesses create a positive socio-economic impact globally.

ESG Trends

The ‘E’ in the ESG – the environmental criteria, is a key factor that makes investment in this sector uniquely attractive to investors. The e-commerce industry produces less carbon footprint compared to retail shopping spaces, which helps economies meet their Net Zero goals. According to a study by Goldman Sachs, the carbon footprint from a typical e-commerce delivery only has about half the footprint of the traditional retail shopping space. Also, some of the transport fleets of some of the biggest e-commerce retailers are aggressive in transitioning to low-emission fleets around the world, thus helping the industry to emerge as a carbon winner.

E-commerce companies are making efforts to achieve a carbon-neutral economy. Leading players have launched climate change manifestos, while some companies have supported sustainable food production. The industry also addresses labor, with one company hiring half a million employees in 2020.

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

ESG Challenges

The biggest challenge for stakeholders in the e-commerce industry is the lack of transparency around ESG disclosures, compared to other industries which have raised the bar in key ESG metrics reporting, including safety, turnover and emissions. Other challenges that are prevalent are labor management which identifies pay equity, working conditions, and the quality of jobs generated. Negative impact from the environment including the increase in CO2 emissions and end-of-life waste in packaging are also major concerns. The rise in the number of e-commerce shoppers’ online means an increase in the availability of customer data, which calls for increased cybersecurity and data security risks; thus, requiring e-commerce companies to protect consumer data effectively.

Growth Of The E-commerce Market

In 2021, the global e-commerce market size was valued at US$ 13 Trillion and is expected to expand at a compound annual growth rate (CAGR) of 27.4% during 2022 to 2027. In 2022, the Indian e-commerce market is predicted to increase by 21.5%, reaching US$ 74.8 billion. E-commerce has completely changed the way business is done in India. The Indian e-commerce market is expected to grow to US$ 188 billion by 2025 from US$ 46.2 billion as of 2020.  Much of the growth in the industry has been accelerated by an increase in the access to the internet and the availability of smartphones to everyone. 

BharatNet Scheme, launched by the government of India under the Digital India program, to provide high-speed internet connectivity in rural areas at an affordable price and, with the launch of 5G network in early 2023, the e-commerce market is expected to grow faster.

Key companies in this theme

    • Amazon.com, Inc.

    • JD.com, Inc.

    • Apple, Inc.

    • Alibaba Group Holding Limited

    • Flipkart Private Limited

    • Walmart, Inc

    • eBay, Inc.,

    • Best Buy

About Astra – ESG Solutions by Grand View Research

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

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

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

ESG Implications for Life Science Analytics Companies

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

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

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

IBM Views Sustainability as Vehicle to Drive Business

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

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

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

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

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

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

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

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

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

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

About Astra – ESG Solutions by Grand View Research

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

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

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

Green Packaging and ESG: A Winning Combination for Sustainable Businesses

Fast-moving consumer goods (FMCG) companies, packaging manufacturers and retailers have taken a giant stride towards a circular economy with investments in green packaging. Consumers’ preferences for sustainable packaging and the repercussions of plastics on the environment have prompted governing bodies to look beyond plastic bans.

Spain introduced Plastic Tax (a special tax on non-reusable plastic packaging) by Law 7/2022 to promote a circular economy and manage waste and contaminated soil; the law came into force on January 1, 2023. In August 2021, the Whitehouse introduced REDUCE (Rewarding Efforts to Decrease Unrecycled Contaminants in Ecosystems) Act to encourage recycling and impose a USD 0.10 per pound fee on virgin plastic resins used for the single-use product, rising up to USD 0.20 per pound in 2024.

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

With single-use plastic becoming ubiquitous, the burden on the environment and society has become a grave concern. So much so that green packaging has become synonymous with biodegradability and instrumental in fostering corporate social responsibility. That said, several companies have received the flak for greenshifting—a part of greenwashing wherein brands shift blame from themselves to consumers in a way that would not hold specific companies accountable for the environmental crisis. Several pundits, including Heather Rogers, claimed that Coca-Cola and companies, such as Dixie Cup launched—Keep America Beautiful—aimed at making Americans believe that it was their personal responsibility to keep the environment clean. 

Environmental claims are pervasive in Europe, too. The Guardian cited a Changing Markets Foundation report, noting that P&G ‘s Head and Shoulders shampoo bottles—dyed blue—cannot be recycled further, although these products are touted as being made of beach plastic. Meanwhile, P&G stated that the pack was recyclable and is no longer available in the U.K. While consumer protection laws are in place, better ESG performance has become invaluable for brands to avoid landfills and bolster share value. 

Key Companies in this theme

    • Amcor

    • DuPont

    • Mondi

    • Sealed Air

    • DS Smith

Amcor Invests in Responsible Packaging to Enhance Environmental Profile

Sustainable packaging solutions have received global traction to facilitate a circular economy. Recycled-ready products can be the mainstay for brands striving to keep abreast of ESG trends. For instance, Amcor is gearing up for 30% recycled material across its portfolio by 2030, up from the previous target of 10% by 2025. In January 2022, the company committed to establishing science-based targets and attaining net-zero emissions by 2050. It is contemplating augmenting recycling value for PET Thermoformed Trays; boosting value in PET recycling; using on-pack recycling instruction; minimizing virgin plastic use in B2B plastic packaging; and bolstering recycling value in rigid HDPE and PP. 

Amcor has forayed its penetration in Latin America to ramp up “inclusive and economically viable recycled projects.” It joined forces with Delterra in Olavarría, Argentina to fund the project boosting recycling, waste collection and composting. Olavarría could recover 2,000 metric tons of plastic annually by 2024. It is worth mentioning that the brand is poised to make all packaging recyclable, reusable or compostable by 2025. In FY 2022, Amcor Flexibles Latin America teamed up with a customer to create an innovative compostable packaging solution for paper-made butter and margarine. 

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

Mondi Navigates Social Initiatives to Enhance Sustainability Solutions

The need for positive social practices has prompted industry players to inject funds into diversity, health & well-being, and community welfare and play a part in overcoming sustainability challenges. Mondi expanded its footprint in Africa through investments in corporate social projects and offering sustainability training opportunities in South Africa. Besides, in 2022, it poured €8.9 million (approximately USD 9.8 million) into social initiatives to underpin environmental protection, health, education, infrastructure and local enterprise. Amidst Russia’s invasion of Ukraine, the packaging and paper group donated €2 million (roughly USD 2.2 million) to the World Food Program for humanitarian causes. 

Mondi furthered personal development opportunities, mental health and diversity and inclusion. The company tested Mental Wellbeing Index for employee surveys across different locations to emphasize safety, mental health, inclusive behavior and climate action. Additionally, in 2022, approximately 31% of all employees participated in the online Performance and Development Review Process. 

DS Smith Reinforces Good Corporate Governance

The principles of sound corporate behavior, board diversity, transparency, ethics & compliance and anti-corruption have become paramount to underscore brand position. DS Smith is aiming to engage 100% of its people on the circular economy and is optimistic about removing 1 billion pieces of problem plastics from supermarkets by 2025. Bullish corporate policies could complement buoyant strategies to achieve the target and spearhead the ESG rankings. The company has formed a circular business around sustainable packaging. 

The prevalence of bottlenecks, such as bribery and corruption, has compelled DS Smith to introduce strict anti-bribery and anti-corruption policies. The company has exhorted a zero-tolerance approach to bribery and corruption and urged to conduct third-party background checks by reviewing third-party’s likely business partners; and the payment terms, among others. The company also prepares a companion report, along with the sustainability report annually, to provide a deep-dive into the quantitative detail of ESG and sustainability performance across non-financial indicators. 

At a time when sustainable packaging could bring a green revolution, forward-looking companies are expected to inject funds into ESG strategies. For instance, in March 2023, DuPont joined forces with the members of the Water Resilience Coalition to infuse USD 3 million to boost access to safe water and sanitation. The high-impact investment validates Grand View Research’s projection of the global green packaging market at 6.1% CAGR from 2020 through 2028. 

About Astra – ESG Solutions by Grand View Research

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

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

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

ESG Initiatives in the Online Grocery Sector

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

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

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

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

Kroger and BigBasket Invest in Climate Strategy for a Sustainable Future

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

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

Amazon Fresh Navigates Changing Social Landscape 

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

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

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

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

Governance Key for Relentless Sustainable Goals of Rakuten and Walmart

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

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

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

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

About Astra – ESG Solutions by Grand View Research

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

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

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