Developments in the ESG realm don’t slow down for the holidays, even if everyone interested in this broadly encompassing arena holds their breath for what environmental, social and governance commitments by companies and rulemaking by authorities will be taken (and not taken) in 2025.

Let’s look at some recent developments, which still signal ongoing interest and commitment by businesses in environmental, social and corporate governance (ESG) standards and reporting, plus executive accountability and climate technology.

The World’s best sustainable growth companies

Time magazine has released its list of the world’s best sustainable growth companies for 2025.

The list includes several financial services firms, including Mastercard, Visa, S&P Global, and PayPal.

Financial services companies located outside the United States included PagBank (Brazil), Jyske Bank (Denmark), and Hua Nan Financial Holdings (Taiwan).

According to Time, the list shows that businesses of any size and from almost any industry can achieve substantial growth while embracing sustainability. And experts say that more leaders are recognizing that sustainability can help drive growth and profits, largely through operational efficiencies, innovation, supplier relations, sales and marketing, and more.

Large companies incorporate ESG performance into executive pay

According to a KPMG survey, more than 40% of the largest global companies are incorporating ESG performance into executive pay. And more than half (56%) have a dedicated member of their board or executive team with responsibility for sustainability matters.

A full 95% have set climate goals, with many of them aligning their targets to the Paris Agreement.

Despite upcoming mandatory sustainability reporting requirements like the European Commission’s Corporate Sustainability Reporting Directive, many large companies (largest 250 companies, worldwide) are continuing to use voluntary frameworks, including the Global Reporting Initiative (77% of those businesses), Sustainability Accounting Standard Board (56%) and the TCFD (72%).

Bipartisan Carbon Dioxide Removal Investment Act

The proposed law was introduced by US Senators Lisa Murkowski (R-AK) and Michael Bennett (D-CO). The law, if passed, would boost the advancement of CO2 removal technologies in the US.

The proposed tax credit would be technology-neutral, supporting a broader range of natural and engineered carbon removal approaches beyond the existing credit’s focus on direct air capture and bio-energy with carbon capture and storage.

Switzerland and Hong Kong

In Hong Kong, the government announced the release of its Roadmap on Sustainability Disclosure in Hong Kong, outlining the details of its plans to implement sustainability reporting requirements for companies, with a view to introducing reporting based on the IFRS Foundation’s International Sustainability Standards Board standards for some listed companies on a comply-or-explain basis next year, and with mandatory requirements for large-cap companies starting in 2026.

The Swiss government announced a series of new proposals to update its sustainability-related disclosure rules for companies, including a requirement for companies to provide plans to align with Switzerland’s net zero by 2050 climate target, and for financial sector firms to report plans for the alignment of financial flows to facilitate the net zero target.

The new proposals would also enable companies to meet their climate reporting obligations by aligning their disclosures with an internationally recognized standard such as those set by the ISSB, or the CSRD’s European Sustainability Reporting Standards.