President Trump's announcement of tariffs raised alarms in financial markets, leading to stock sell-offs and forecasts of rising inflation, alongside an increased risk of recession. Amidst this, businesses face a pivotal decision on climate initiatives, balancing financial protection with continued environmental commitments. Recent years saw firms transform commitments into financially savvy actions, boosted by investor interest in ESG. As economic pressures mount, it remains to be seen if companies will prioritize climate work or view it as a cost to cut.
The economic anxiety ahead poses a crucial test. Has understanding of sustainability's financial opportunity grown such that companies lean into their climate work, or will executives slip into thinking that climate programs are simply too expensive?
In the years following the COVID-19 pandemic, companies very publicly doubled down on measures aimed at addressing climate change and investors poured funds into so-called ESG funds.
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