Have you done your ESG (environmental social governance) materiality assessment?

Sustainability pressures, as seen in the latest The International Air Cargo Association (TIACA) Air Cargo Sustainability Report was produced by Geneva-based ESG compliance consultancy Change Horizon.

The consultancy claims that 78 per cent of customers, 69 per cent of employees, and 62 per cent of local communities and business partners asking for "change," implying that that means ESG compliance.

"The strategic necessity of sustainable business credentials is clear," says Change Horizon.

"Pressure from regulators has increased the most over the past year and we can see it with new regulations affecting even the smallest businesses across the globe.

"As just one example, the European CSRD regulation requests that large companies showcase their sustainability impacts and action through annual reporting, starting next year.

Small and medium-size companies will not be spared, with just a few more years available to prepare.

"Business partners and clients, such as shippers or large freight forwarders, are asking for sustainability credentials as part of efforts to ensure their value chain is sustainable.

"And this due diligence activity will only intensify, not only because of pressure from investors, but also laws, such as the upcoming European Corporate Due Diligence Directive.

As regulatory compliance and business opportunities are the key drivers for change, employer branding is a growing opportunity. Companies may consider sustainability credentials to help attract and retain the next generation of talent looking to work for a responsible business," says Change Horizon.