Around 87 per cent of executives polled around the world said that environment, social and governance norms are part of their core objectives following the Covid-19 pandemic, according to a global survey commissioned by Abu Dhabi's Masdar.
Around 525 executives leading businesses with over $250 million revenues were interviewed for the report ESG: Beyond Tipping Point, by Masdar and Abu Dhabi Sustainability Week.
Around 85 per cent of those polled also viewed Covid-19 as a "wake-up call" for sustainability.
"Once the preserve of niche or specialist companies operating in recognisably green or ethical fields, ESG is now mainstream," Masdar chief executive Mohamed Al Ramahi said in the report.
"And, fed by investor pressure and the popularity of purpose-led business strategies, ESG has reached enough of a critical mass that it seems very unlikely that we will be able to retreat to the old profits-above-all models of the past, even if we wanted to."
ESG investments have gained traction after asset manages such as BlackRock began to push for greater adherence to climate action from the companies it invests in.
Meanwhile, a record fall in emissions following the lockdowns to stem the Covid-19 pandemic also proved to be a turning point for investors and consumers to demand greater sustainability from companies.
Nearly 65 per cent of executives hope to see financial benefits from their ESG investments over the next two years, according to the survey.
Thirty-five per cent of those are optimistic their returns will be realised within 12 months.
Geographically, over three-quarters of executives polled in the Asia Pacific are in favour of companies' commitment to targets such as reaching net-zero emission. However, only 33 per cent of those surveyed in the Middle East saw such targets favourably.
"The opportunities presented by the green recovery will further fuel investor appetite for backing smart, sustainable companies. Those companies that ignore ESG will lose their relevance in the post-Covid era," said Yousef Baselaib, executive director, strategy & corporate development at Masdar.
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Polarised public
31% in UK say BBC is biased to left-wing views
19% in UK say BBC is biased to right-wing views
19% in UK say BBC is not biased at all
Source: YouGov
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
THREE POSSIBLE REPLACEMENTS
Khalfan Mubarak
The Al Jazira playmaker has for some time been tipped for stardom within UAE football, with Quique Sanchez Flores, his former manager at Al Ahli, once labelling him a “genius”. He was only 17. Now 23, Mubarak has developed into a crafty supplier of chances, evidenced by his seven assists in six league matches this season. Still to display his class at international level, though.
Rayan Yaslam
The Al Ain attacking midfielder has become a regular starter for his club in the past 15 months. Yaslam, 23, is a tidy and intelligent player, technically proficient with an eye for opening up defences. Developed while alongside Abdulrahman in the Al Ain first-team and has progressed well since manager Zoran Mamic’s arrival. However, made his UAE debut only last December.
Ismail Matar
The Al Wahda forward is revered by teammates and a key contributor to the squad. At 35, his best days are behind him, but Matar is incredibly experienced and an example to his colleagues. His ability to cope with tournament football is a concern, though, despite Matar beginning the season well. Not a like-for-like replacement, although the system could be adjusted to suit.
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
