ESG and reporting on sustainability are gaining ground, recent annual reports show. For example, ASML mentions ESG 71 times and Philips over 95 times in its annual reporting.

In 2021, the European Commission (EC) adopted the Corporate Sustainability Reporting Directive (CSRD), succeeding the Non-Financial Reporting Directive (NFRD) which entered into force in the Netherlands in 2018.

Last week, sports and fashion chains Decathlon and H&M were reprimanded by the Consumer and Market Authority (ACM). This is because both parties were allegedly unclear about sustainability and did not sufficiently substantiate their claims in this regard. Greenwashing, making a company appear greener or more socially responsible than it actually is, is a recurring phenomenon.

GDPR came into force in 2018 in what felt like an overnight change of data protection regulation. The European Commission, however, brought up the need for regulatory changes in data protection (last updated in 1995) as early as 2012 and GDPR was adopted in 2016, leaving companies 2 years to prepare for its enforcement.

According to a 2018 WWF study, during the summer, plastic waste increases by 40% due to tourism, the majority of which ends up in the oceans. Even though it is important to recognise our individual responsibility, re-evaluate our routines and build new, more eco-sensitive habits, it’s also essential to bring change on the business level too.

ESG discussions seem to be ramping up these days, making Environmental, Social and Governance considerations one of the most important themes in business across industries and sectors.

Fifty-two years agot oday, April 22, the first Earth Day was celebrated, following Senator Gaylord Nelson’s initiative and efforts in a world very different to the one we are living in now, but, still, with many of the same environmental challenges.