Welcome to our daily roundup of the most impactful and noteworthy ESG (Environmental, Social, and Governance) news. As we navigate the ever-evolving landscape of sustainable practices, responsible business conduct, and societal impact, we bring you a curated selection of the day’s top 5 ESG headlines. These articles encapsulate the latest developments, innovations, and commitments that are shaping the world of ESG.

Here are today’s Top 5 ESG Headlines:

1. Deloitte, Circle Economy Foundation Release Circularity Gap Report 2024 – predicting circular economy to help reduce emissions by 40%

Deloitte and Circle Economy Foundation released the Circularity Gap Report 2024, finding the vast majority of extracted materials entering the economy are virgin, with the share of secondary materials declining steadily since the Circularity Gap Report began in 2018. The report identifies three main areas where reforms can help accelerate progress toward the circular economy: policy, finance, and employment.

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2. EFRAG Releases Exposure Drafts for EU Sustainability Reporting Standards for SMEs

The European Financial Reporting Advisory Group (EFRAG) has launched a public consultation on two draft sustainability reporting standards for small and medium-sized enterprises (SMEs): the Exposure Draft ESRS for listed SMEs (ESRS LSME ED) and the Exposure Draft for the voluntary reporting standard for non-listed SMEs (VSME ED). The consultation will be open until May 21, 2024.

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3. GRI Launches New Biodiversity Reporting Standard

As nature faces unprecedented pressures, with human activity the leading cause for one million animal and plant species being pushed to the brink of extinction, GRI has today published a major update to its Biodiversity Standard.

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4. Global Gas Demand Set to Rise in 2024, Driven by Emerging Economies and Colder Weather: IEA’s latest Gas Market Report says

Demand is rebounding as a result of expected colder weather and lower prices, IEA’s latest Gas Market Report says, but limited new LNG production means supply will remain tight

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5. IKEA Releases Sustainability and Climate Reports 2023: Reduced GHG emissions and Accelerated Climate Actions

Ikea has said that the financial year 2023 (FY23)* was another year of global challenges but also of progress. Key movements include a 22% reduction of the total IKEA climate footprint in absolute terms** compared to baseline year FY16, strengthened climate goals, a continued increase in renewable electricity in retail and production, the introduction of a new bio-based glue and more than halving IKEA’s climate footprint from product use at home compared to baseline FY16.

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