Insights

While companies have set ambitious decarbonization goals, there is still work to be done to integrate decarbonization strategies across sourcing, assembly, production, transportation, and product marketing. Regulators and customers are pushing for greater transparency for both emissions disclosures and other ESG metrics (embodied carbon, recyclability, biodiversity, fair trade, human rights, etc.). This pressure has started in Europe and continues to grow in North America, Australia, Singapore, and beyond. Executives should understand key drivers around this trend and determine how their organizations should manage reputational and greenwashing risk with carbon labelling.

Elon Musk’s influence transcends the domains of technology and business, extending into regulatory frameworks and geopolitical dynamics. As the CEO of Tesla, SpaceX, and other ventures, Musk has actively shaped industries ranging from renewable energy to space exploration. His outspoken advocacy for deregulation and his ventures’ geopolitical implications have both catalyzed innovation and sparked controversy. Elon Musk’s influence on policy, could be shaped by his personal relationships with political figures, including President-elect Donald Trump. But, it doesn’t come without material risks.

With COP29 now concluded in Baku, Azerbaijan, business leaders must now consider the ramifications for their organizations, especially as they relate to the quickening pace of the global energy transition, worsening portfolio of climate risks, uncertainty of the future of U.S. climate policy, and growing pressure on private financing to bolster climate resilience and adaptation. Although many have called the latest COP a disappointment, the short- and medium-term consequences of the latest climate negotiations should be evaluated thoroughly by both Chief Sustainability Officers (CSOs) as well as C-level management teams.

With record-setting climate disasters more frequent across the U.S., businesses and households are looking for greater stability in their operations and the ways they live. The Midwest and Chicago, in particular, have a generational opportunity to lead the way in a future of climate resilience and action. Chicago is well poised to do so given its limited vulnerability to climate disaster and ample supply of fresh water. In preparing for leadership and enhancing its resilience, Chicago can offer a platform for growth and stability in an increasingly uncertain world for the corporations and people that call it home. ​