EDITORIAL

2025 promises to be a watershed year for environmental and social agendas.

On the one hand, after two years dominated by regulatory issues, notably the CSRD and other EU sustainability legislation, it would seem logical that the sustainability cursor should (finally) move to "action" mode, now that material risks and opportunities have been identified.

Circularity, nature-based solutions, climate adaptation, water, biodiversity and human rights issues are all likely to drive the year forward, and continue to broaden the focus on climate change mitigation, which remains absolutely necessary. In fact, 2024 exceeded 1.5 degrees compared to the pre-industrial era, the target of the Paris climate agreements, breaking the record of an already exceptional 2023.

But counter-currents will be strong, starting in the United States, where the revival of fossil fuel extraction and the regulatory translation of the anti-ESG movement are likely to be on the public agenda from day 1 of the new administration. It won't necessarily be all fun and games, however, as the “anti-ESG” funds are having the same difficulty defining themselves as their antithesis... And all this while California burns, as a direct consequence of climate change.

Against this backdrop, we need to build on double materiality approaches, identify the nodal points and potential avenues of sustainable strategies. Above all, we need to engage in programs and transformations at the heart of our models, working on these material issues in a concrete way, without dwelling on the impact of announcements.

So, what can we hope for in 2025? First, a redoubling of our collective operational efforts to follow through with the trajectories announced for a long time, and to finally bring together the climate and environmental transition, respect for human rights and fostering social equity. Second? More understanding and shared construction through initiatives bringing together different types of players, to align the public sector, private players, civil society and academia in identifying problems ... as well as solutions for a just transition!

Collectively, we need this more than ever, at a time when social and environmental challenges may seem less urgent to decision-makers, given the particularly tense geopolitical context.

We look forward to seeing more of you in 2025 with Ksapa and our network of partners to keep building and delivering on these initiatives and solutions!

Raphael Hara, Managing Director