Commercializing sustainability in a softening economy

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What it really takes to make green pay off in industrial markets

Over the past decade, ESG has become a central narrative for industrial transformation. It has shaped boardroom agendas, guided investor relations, and provided a framework for companies navigating the shift toward more sustainable operations and offerings.

But in today’s environment of rising cost pressure, softening demand, and growing political scrutiny, that narrative is under pressure.

The question many leaders are now asking, often behind closed doors, is simple: 
“Is ESG dead?”

The answer, of course, is more nuanced. ESG is not dead, but it is changing. It’s no longer the automatic strategic north star it once was. In many markets, the language of ESG has become politicized, the expectations inflated, and the business case less clear-cut. Companies that once built roadmaps around ESG ratings and pledges…