"ESG has taken a significant backward step since Trump's administration took power in January. Diversity, equity, and inclusion commitments are being forgotten or watered down, and carbon emissions goals are being rewritten. Against this backdrop and without namechecking the man in the Oval Office, Ben Caddy, senior analyst at Omdia, said it "feels like we've had a real paradigm shift on sustainability" - and not in a good way."
""It seemed like companies were really taking it seriously," he told an audience of tech suppliers at the Canalys Forums event in Barcelona. "For the first time, we were seeing companies appointing chief sustainability officers or even talking about sustainability and marketing it in their earnings calls. "It was everywhere, but only for a few years. In the last 12 months, something seems to have changed, and sustainability has experienced somewhat of a total system crash.""
U.S. political shifts under the Trump administration have driven a rollback of ESG policies, with effects spreading across the Atlantic. Diversity, equity and inclusion commitments are being forgotten or watered down, and carbon emissions goals are being rewritten. Corporate momentum behind sustainability has stalled after a few years of high visibility, including appointments of chief sustainability officers and sustainability messaging in earnings calls. The 2024 U.S. election politicized sustainability and DEI, making vendors fearful to use that language. Investor and regulatory focus on green bonds and disclosure faces new headwinds as procurement priorities shift.
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