Theme timeline

What are the origins of ESG, and what does the future hold? 

Credit: Bert van Dijk/Getty images.

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More than three decades have passed since the Intergovernmental Panel on Climate Change was established. Governments have since signed landmark agreements such as the Kyoto Protocol and Paris Agreement, committing themselves to reduce GHG emissions.  

Corporate interest in ESG has risen steadily but took off rapidly after the 2015 Paris Agreement. Businesses have since made ESG a part of their reporting, marketing, and investment voluntarily. 

ESG, especially the ‘E’ component, is now shifting from a voluntary regime to a mandatory one, with a host of new laws in the pipeline, including mandatory reporting, carbon pricing, and carbon import fees, as well as more state support and investment for clean energy technologies. 

1859

Irish scientist John Tyndall demonstrated that some gases blocked the escape of infrared radiation.

1896

Svante Arrhenius published the first calculation of global warming from human-caused CO2 emissions.

1938

British steam engineer Guy Callendar discovered global temperatures have risen 0.3C over the previous 50 years.

1953

Howard Bowen coined the term ‘corporate social responsibility’ in his book, Social Responsibilities of the Businessman.

1958

Atmospheric CO2 levels were measured for the first time.

1988

Intergovernmental Panel on Climate Change (IPCC) was established.

1992

Nations agreed on the UN Framework Convention on Climate Change.

1997

The Kyoto Protocol was adopted, committing signatories to agreed emissions reductions.

1999

The Dow Jones launched the first sustainability market index.

2000

BP underwent its ill-fated ‘Beyond Petroleum’ rebrand.

2004

The term ‘ESG’ was coined by the UN Global Compact.

2005

The EU launched ETS 1, the world's first international emissions trading system.

2009

China overtook the US as the world’s largest GHG emitter.

2015

The Science Based Targets Initiative (SBTi) was founded by the CDP, UNGC, WRI, and WWF.

2015

Volkswagen was caught cheating on its emissions tests.

2016

175 countries signed the Paris Agreement. The UN launched its 17 Sustainable Development Goals (SDGs).

2016

The first global market-based carbon offset system (CORSIA) was adopted by the airline industry.

2017

The Task Force on Climate-Related Financial Disclosures (TCFD) created its first draft reporting standards.

2017

The US left the Paris Agreement.

2021

The EU’s Sustainable Finance Disclosure Regulation (SFDR) came into effect.

2021

A relatively unknown investor, Engine No.1, defeated Exxon in a shareholder voting battle over director appointments.

2021

The US rejoined the Paris Agreement.

2021

The COP26 Glasgow agreement kept the Paris target of 1.5C alive.

2022

The EU SFDR and green taxonomy came into force, setting sustainability reporting requirements for fund managers.

2022

Russia invaded Ukraine, and gas prices soared to record highs in the following months.

2022

President Biden’s Inflation Reduction Act was passed.

2022

DWS and Deutsche Bank offices were raided over greenwashing allegations.

2022

Goldman Sachs and BNY Mellon were fined for greenwashing.

2022

Attendees of COP27 reached an agreement on a loss and damage fund.

2023

The EU responded to the US IRA by proposing the Net Zero Industry Act.

2023

The US SEC and International Sustainability Standards Board will produce final drafts of reporting standards.

2023

The first reporting year for sectors covered by the EU CBAM.

2024

TCFD reporting will become mandatory for large UK companies.

2024

The EU maritime sector will be brought under the EU’s ETS.

2025

The EU’s deforestation rules will take effect.

2025

This will be the likely first reporting year for ISSB reporting standards.

2026

Import fees for the world’s first major carbon border tax (CBAM) will begin.

2027

EU rules on battery recycling, labeling, and passporting will take effect.

2027

Earliest start year for road transport and buildings to be covered by the EU ETS.

2030

The UK’s ban on the sale of new petrol and diesel cars will take effect.

2030

Canada’s target year for producing zero plastic waste.

2034

The EU CBAM and ETS 2 will be fully phased in.

2035

The EU ban on sales of internal combustion engine cars will take effect.

2035

The US government is to end its own purchases of gas-powered vehicles.

2050

The EU, UK, and US target date for achieving net zero GHG emissions.

2060

China’s target date for achieving net zero GHG emissions.

2070

India’s target date for achieving net zero GHG emissions.

Source: GlobalData

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article. 

GlobalData’s Thematic Intelligence uses proprietary data, research, and analysis to provide a forward-looking perspective on the key themes that will shape the future of the world’s largest industries and the organisations within them.  

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