US. Sustainability movements with staying power
It took the coronavirus pandemic and the death of George Floyd to convince Americans that racial inequality is a part of every facet of our economy.
The awakening lifted several sustainability movements that will carry into 2021. Corporate America slowly is making progress on diversity.
Environmental justice advocates have gained a foothold in Washington politics at the highest levels, underscored by President-elect Joe Biden’s Cabinet nominees.
Wall Street had its own epiphany. Asset managers, insurers, pension funds and foundations committed to lofty environmental, social and governance goals.
The recognition that climate change and social inequality pose major risks to markets — and a looming regulatory crackdown under Biden — helped make 2020 a record year for fossil fuel divestitures, shareholder engagement and impact investing.
Sustainable finance grew into a $40 trillion industry globally, with Europe leading the way. But for many, the worst of times are still to come. Economists predict widening inequality in 2021.
Many high- and middle-income professionals rebounded after the initial shock of the pandemic, while low-wage workers continue to bear the brunt of the recession — a K-shaped recovery.
Stocks look ready to end the year near record highs and the fortunes of America’s richest are ballooning, while Congress spent nearly nine months tangling over $600 stimulus checks. Work from home is here to stay. So are plastics. Read on for more trends that will shape 2021.
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