As the world struggles with a multitude of environmental and social challenges, the importance of global sustainability has never been more pressing. The term has become a buzzword in the news and on social media. 2024 is expected to be a pivotal year for sustainable practices and policies worldwide as the focus on environmental challenges is expected to continue rising. In this blog post, we will explore some of the upcoming trends in global sustainability for 2024 that are set to shape our future and contribute to a more resilient and responsible world.
In 2024, the adoption of circular economy principles is expected to surge. A circular economy aims to minimise waste and make the most of resources by reusing, repairing recycling, and repurposing materials. Governments and businesses are increasingly recognising the economic and environmental benefits of such an approach. In July 2020 the British Government Department for Food, Environmental and Rural Affairs announced the ‘Circular Economy Package’ which is a long-term plan to reduce waste and establish an ambitious long-term path for waste management and recycling across the UK. The aim of this initiative is to recycle 65% of municipal waste by 2035 and to have no more than 10% of municipal waste going to landfill by 2035. We expect to see an increase in government initiatives like this in the following years.
Another predicted trend is the rising Environmental, Social, and Governance (ESG) criteria prominence in the financial world, driving investments toward sustainable businesses. In 2024, we can anticipate an even greater emphasis on ESG investing, with more companies aligning their operations with sustainable practices to attract investors. Green bonds and sustainable investment options will become more prevalent, providing opportunities to support initiatives that benefit the planet and society.
Advancements in technology are accelerating the sustainability movement. In 2024, we will see an increasing reliance on artificial intelligence (AI) and big data analytics to optimise resource use, reduce emissions, and enhance sustainability in various sectors, including agriculture, transportation, and energy. It is also likely that smart cities and communities will further develop to create a more sustainable and interconnected world.
With a growing global population and the need to feed everyone sustainably, 2024 will bring a surge in innovations in food production and agriculture. Currently, it is estimated that food production contributes approximately 30% of global greenhouse gas emissions, and the livestock sector alone represents almost half (14.5%) of these emissions. Vertical farming, precision agriculture, and lab-grown meat are just a few examples of how technology is being harnessed to produce food with fewer resources and less environmental impact.
The year 2024 holds great promise for global sustainability, as the world increasingly recognises the urgent need to address environmental and social challenges. Circular economy practices, green finance, technological innovations and sustainable food production, are among the key trends shaping the future. It is a collective effort that will define our progress in the years to come and I look forward to being part of a business that is helping to create a society that values the importance of building a better environment for future generations.
At Morgan Latif, we also value the importance of making small sustainable changes so that we too can help towards the global move towards a circular economy. We are currently undergoing a rigorous process to attain our B-Corp certification, “Certified B Corporations, or B Corps, are companies verified by B Lab to meet high standards of social and environmental performance, transparency, and accountability”. Obtaining this certification is one way we as a business hope to prove our dedication towards the importance of creating a sustainability-focused society.
