What kind of future do we want for ourselves and the generations to come? A future with clean air, water, and thriving ecosystems, or one with polluted skies, contaminated oceans, and a world devoid of wildlife? The choices we make today will determine the answer to that question. We cannot ignore the impact of human activities on the environment any longer. Neither can we ignore the impact of company activities on the climate, which are hard to get access to and have full transparency. Remember the concept of greenwashing, when an organization spends more time and money on marketing itself as environmentally friendly than on actually minimizing its environmental impact. It’s a deceitful marketing trick intended to mislead consumers. And now, there seems to be a way to prevent companies from doing that and guarantee full transparency to consumers, investors and stakeholders. A way to build a future where sustainability is at the heart of business, in Belgium and the rest of the world.

Enter the ESG goals, finalized by the European Union. ESG stands for Environmental, Social, and Governance. It is a framework used to assess a company's performance in areas that go beyond financial measures. The "E" in ESG refers to a company's environmental impact and how it manages its use of natural resources, carbon emissions, and waste. The "S" in ESG looks at how a company treats its employees, customers, and the wider society in which it operates. This can include factors such as human rights, labor practices, product safety, and community relations. The "G" in ESG evaluates a company's governance, which refers to its leadership, board structure, and policies. It looks at factors such as executive compensation, shareholder rights, and transparency in financial reporting. Overall, ESG will be used to evaluate a company's impact on the planet, people, and profits, and will increasingly be used by investors to make investment decisions that align with their values and goals.

The decision by the European Union that companies will be held accountable for transparent sustainability reporting (Corporate Sustainability Reporting Directive or CSRD) and will be evaluated on their impact, clearly brings hope for the future and the preservation of our planet. These rules will start from January 2024 for certain large companies and will apply to all in-scope companies by January 2028. But what does this mean for you, me and the man in the street? By 2028, sustainability goals and financial data should be clearly linked in the annual report of companies. This will give consumers a better understanding and point of comparison of the companies actions against climate change. That is, the companies they are spending their money on or buying from. This also counts for employees, who will have more data available to decide wether a company's goals and values will align with his/her own. After all, consumer and employees, are also part of the ecosystem of companies.

It's time to shift to a more sustainable way of living that promotes environmental protection, social equity, and economic development. It's time to build smarter businesses for a stronger world and build greater trust for generations to come. Are you joining us already on our journey to cut CO2 emission by sharing space? Read here how it works and what's in it for you.