It is only a few months away before reaching the half-yearly mark in 2023. While moving forward, it is essential to note the environmental, social, and governance (ESG) challenges that the world faced in the last year. Climate change, geopolitical turmoil, and the effects of inflation cannot be evaded easily. Every sector, industry, country, and world now needs to understand that all these challenges will persist; hence, taking a different approach towards global sustainability is vital. World leaders, businessmen, investors, workers, the government, communities, and decision-makers in society understand the need for creating a sustainable world. The result is the development of new trends for global sustainability and an impetus to change the way we treat the planet.
Top 5 Global Sustainability Trends of 2023
In 2015, world leaders agreed to work with the United Nations Sustainable Development Goals (SDGs). The initiative was to achieve 169 targets with 17 goals by all 191 UN member states by 2030. Part of that goal was also to decrease blindness. Philanthropist Tej Kohli established the Tej Kohli and Ruit Foundation to cure 500,000 people of cataract-induced blindness globally in underserved regions by 2030.
While this has been the goal of an individual to create a sustainable world, there are several other trends that will have a heavy impact on a better environment. Five of them are:
1. Increase in renewable energy usage
The dependency on patrol was hit hard, and the world is still feeling the impact of it as Russia invaded Ukraine. Hence, the drive to access the increase in renewable energy and its usage of it will continue to rise. With new technologies and the use of renewable energy like solar power or electricity, people are reducing their energy bills while reducing carbon emissions.
2. Work from home
Many experts believe that COVID-19 brought about a shift in how we work. As the concept of working from home grew with the pandemic raging, studies have shown it has created a low carbon footprint. It has been estimated that working from home has reduced the greenhouse effect significantly by 600,000 cars alone in the US. Working from home has also shown better mental health and created a more balanced work-life. A study also shows that 78 per cent of different working teams will engage in remote working by 2028.
3. Clean transportation
Whether it’s Tesla or other car manufacturers, they’re making sure electric vehicles are the future. Sustainable transportation and energy-efficient vehicles are the norm. It has been estimated that 41 per cent of CO2 emissions are from passenger vehicles. As vehicle manufacturers focus on creating fossil-fuel-free transportation, the government is helping buyers do their bit by reducing the tax on EVs they buy.
4. Reducing food waste
Research showed that humans only consume two-thirds of the food produced for consumption while the rest goes to the landfill, which is about 1.3 billion tonnes (approx.). As a result, in many developed countries, reducing food waste is on the agenda for creating a sustainable environment. Apart from many people going hungry despite there being food, the waste also leads to the need to create more landfills, which not only contaminate the water and soil of the area but also contain toxic chemicals and hazardous gases that can cause cancer and other diseases in people staying nearby.
5. Transforming construction work
The UN reported that 39 per cent of global carbon emissions are caused by construction work. Despite the pandemic in 2021, the construction sector’s carbon emissions were 10 gigatons, two per cent more than in 2019, the pre-pandemic time. In the Paris Agreement, the target was set that by 2030, energy intensity buildings would be lowered by 30 per square metre and reach net zero by 2050. Though experts say emissions have doubled and the Paris Agreement cannot be achieved, 10 per cent of industry investors are investing in sustainable construction solutions, and 53 per cent of industry executives expect the trend towards sustainability to increase.
Where Are We Heading?
While different people are working in their respective fields to create a globally viable environment, real estate investor Tej Kohli has been supporting, leading, and investing in different fields that enable global sustainability and follow current trends. Whether it is real estate with Kohli Ventures, Zibel Real Estate Portfolio, or philanthropy with Tej Kohli and Ruit Foundation, Mr TejKholi is instilling the values of global sustainability across cultures, societies, countries, and the economic spectrum.