World Finance Sustainability Awards 2021 | World Finance Magazine | TBA

Sustainability is much more than just a buzzword. Today, businesses across all markets and in every industry are working hard to ensure they look after the environment and wider society
It used to be the case that the sole focus for most investors was making a profit. Following this, it became fashionable to worry about things like negative externalities, such as the impact companies had on society and the planet. Today, sustainability has well and truly made its way into the mainstream; companies all over the world are making sure they take this into account in relation to their products and services.

Back in 2015, the UN launched its Sustainable Development Goals (SDGs). This collection of 17 ambitions, to be achieved by 2030, covers areas like eradicating poverty, boosting education and supporting clean energy. Many banks have signed up to align their strategies with the SDGs, understanding that they have a huge amount of sway in terms of deciding which businesses receive funding.

But even considering the huge increase in prominence that sustainability has gained, there remains much work to be done. In environmental terms, the Global Commission on the Economy and Climate estimates that an investment of approximately $90trn is still required over the next 15 years in order to achieve worldwide sustainable development and to meet climate objectives. More work also needs to be done to ensure investors and businesses do not support organisations that contribute to social ills, such as those ignoring their corporate social responsibility mandates.