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February 18, 2022

ESG – Top Trends in Foodservice: Macroeconomic trends

Environmental sustainability and governance (ESG) remains an important influencer of consumers’ foodservice purchasing choices. The boom of food delivery services, catalysed by the Covid-19 pandemic, clashes with consumers’ desires for sustainable packaging formats and cutlery. Companies will have to address these issues to achieve future competitiveness.

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How can your business build resilience within the ESG space?

ESG is a key theme impacting companies across all sectors globally. It has emerged as the top theme among company filings, with a rising focus on SDG 16 (Peace, Justice, and Strong Institutions) amidst current geopolitical tensions and sustainability-driven investments. Leading sectors with the highest active jobs in this space include aerospace and defense, automotive, banking and payments, construction, and consumer, with many companies actively looking to establish ESG-related expertise. For more information related to company filings and job analytics, as well as key insights across the latest news, deals, and patents, consult our full report. This report will help you to:
  • Identify the top trending themes relevant to ESG across all sectors
  • Monitor investment and innovation landscape in ESG
  • Track key events and social media mentions related to ESG
Download our full report to understand how you can use GlobalData’s trusted insight to develop your business in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

Listed below are the key macroeconomic trends impacting ESG performance, as identified by GlobalData.

Ethical consumerism

Over the last decade, consumers have developed heightened awareness and concern for the scale, complexity, and interdependence of global social and environmental challenges, making it difficult for foodservice companies to ignore environmental, social, and governance (ESG) goals.

For instance, consumers are now attentive to all aspects of the production process, from the sustainable and ethical sourcing of raw ingredients to the carbon footprint associated with the processes and the environmental credentials of the packaging. As a result, their purchasing decisions are significantly driven by companies’ ethical and environmental practices.

Gig economy

The gig economy is characterised by the prevalence of short-term contracts or freelance work instead of permanent jobs. Proponents point to the flexibility it offers in terms of working hours, but critics highlight the low wages and lack of basic employment rights offered to long-term employees.

Governments are increasingly clamping down on abusers of the gig economy by clarifying definitions of employment status and classifying self-employed gig economy workers as employees with standard employment rights.

Generation Hashtag

Generation hashtag makes up one-quarter of the world’s population, and its influence will only increase over the next decade as its members continue to enter the workforce. As a generation coming of age during recessions, fractured politics, and exposure to ‘fake news’, they will rigorously hold brands accountable for ESG actions.

Tokenistic efforts to display social and environmental responsibility will no longer suffice, as consumers will choose brands that wholeheartedly demonstrate corporate social responsibility (CSR).

This is an edited extract from the ESG – Top Trends by Sector – Thematic Research report produced by GlobalData Thematic Research.

Free Report
img

How can your business build resilience within the ESG space?

ESG is a key theme impacting companies across all sectors globally. It has emerged as the top theme among company filings, with a rising focus on SDG 16 (Peace, Justice, and Strong Institutions) amidst current geopolitical tensions and sustainability-driven investments. Leading sectors with the highest active jobs in this space include aerospace and defense, automotive, banking and payments, construction, and consumer, with many companies actively looking to establish ESG-related expertise. For more information related to company filings and job analytics, as well as key insights across the latest news, deals, and patents, consult our full report. This report will help you to:
  • Identify the top trending themes relevant to ESG across all sectors
  • Monitor investment and innovation landscape in ESG
  • Track key events and social media mentions related to ESG
Download our full report to understand how you can use GlobalData’s trusted insight to develop your business in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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