Top 10 sustainability predictions for commodities in 2024 – by Staff ( – December 19, 2023)

Global mining and metals sector consultancy CRU has released its top 10 sustainability predictions for commodity markets in 2024, covering topics that were already hot this year. These include reporting standards, nature conservation, climate action, carbon pricing and critical raw materials.

Here is a summary of what CRU analysts expect for 2024:

1. Reporting: As reporting pressures increase, companies need to prepare for a range of new and expanded reporting requirements both in scope and quantity. CRU warns that standards are increasingly overlapping, which mean that transition planning is critical to navigating policy uncertainty and liability risk.

There are increasingly significant risks for organizations or supply chains that operate across multiple jurisdictions. For policy makers, the more standards diverge, the more they could raise costs and create reporting fatigue, the analysts say.

2. Biodiversity pledges gain traction: Businesses will increasingly need to begin to monitor and prepare for legislation on nature and biodiversity.

The Taskforce on Nature-related Financial Disclosures (TNFD), a market-led, science-based and government-backed initiative, published its final recommendation in September. The aim of this non-legally binding framework is to provide organizations with the structure to integrate science-based targets for nature into decision-making.

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