Companies around the world are increasingly withdrawing from ESG commitments or simply speaking about them less publicly, says John Elkington, a global authority on sustainability and creator of the Triple Bottom Line concept. In his view, however, this does not mean sustainability is in retreat. On the contrary, pressure linked to the policies of Donald Trump’s administration could become a catalyst for a necessary shift in thinking.
“We are moving towards ‘hard’ sustainability connected with geopolitics,” says John Elkington.
“There is no doubt that we are seeing resistance to ESG and, to some extent, to sustainability more broadly. This is mainly driven by the actions of Donald Trump in the United States. However, I believe this is a good thing, because both areas needed pressure and an incentive to rethink how we operate and who we work with. In my view, this is the greatest opportunity of the past 20 years to redefine our priorities,” John Elkington, founder and chairman of Volans, tells Newseria.
During his speech at the ESG Ideas Fair 2026 in Warsaw, organised by Responsible Business Forum, Elkington went so far as to say that Donald Trump’s second term could prove to be one of the best things to happen to ESG and sustainability movements — provided they respond appropriately.
“Companies are stepping back from ESG commitments, more so in the United States than in Europe, or at least they are speaking less publicly about their ESG and sustainability activities,” Elkington says.
In his view, this is partly because many businesses did not know how to deliver on the targets they had set for 2040 or 2050. In many cases, their strategies were declarations rather than realistic action plans.
According to the 2025 report Sustainability at a Crossroads, prepared by ERM Sustainability Institute, GlobeScan and Volans, 93% of nearly 850 ESG experts from 72 countries said that the sustainability agenda needs to be reviewed, while 56% called for radical reinvention. Seven in ten experts said the agenda faces significant opposition, up 13 percentage points from 2024. In North America, 91% of respondents reported substantial backlash, compared with 38% in the Asia-Pacific region.
At the same time, Elkington stresses that investment in clean energy is not declining. Quite the opposite. Capital expenditure on renewable energy and the energy transition is already around twice as high as spending on fossil fuels, and that gap is expected to widen significantly in the coming years.
“Capital markets are recognising the new reality and have to deal with it. Political pressure on people driving change has intensified, and one reason is that representatives of fossil-fuel industries now realise this is an existential threat to their future. They therefore finance politicians to fight on their behalf. Yet, although it may seem counterintuitive, I see this as a positive sign that we are making progress. I am genuinely very optimistic about the next 15 to 20 years,” says the founder and global ambassador of Volans.
The Sustainability at a Crossroads report also shows that many organisations involved in sustainability are not rated highly by the experts surveyed. National governments receive the weakest ratings, with only 5% of ESG experts assessing their contribution positively. The private sector is rated positively by 14% of respondents, the United Nations by 29%, and non-governmental organisations by 45%. In all cases, the scores are significantly lower than in 2021.
“One of the things we have seen over the last 15 to 20 years is that many companies have increasingly engaged stakeholders, produced different types of sustainability reports and challenged their suppliers. That will not change. But people are beginning to realise that this is no longer only about the ‘soft’ issues we need to address,” Elkington argues.
According to him, the US president has shaken the existing world order, which is unlikely to return to its previous shape. However, the breakdown of the old system creates room for genuine rebuilding and systemic change.
Elkington believes the world is moving from “soft” sustainability — covering initiatives focused on people, local communities, the environment and corporate governance — towards “hard” sustainability with a more strategic and geopolitical character. This could shift the emphasis away from reporting and voluntary commitments towards raw-material security, supply-chain resilience and industrial policy.
“One example is the Strait of Hormuz. This is where geopolitical reality suddenly puts pressure on our economies, and we have no choice but to respond. I think we will see many similar situations, including the use of advanced chips produced by Nvidia and water as weapons. That is why I say we will move from ‘soft’ to ‘hard’ sustainability,” the expert says.
Another example is China’s policy towards access to rare earth elements and minerals essential for the production of batteries, electronics and low-carbon technologies. China controls the sector from extraction and processing to exports, which gives it significant leverage in international policy.
“History is full of conflict. I do not need to stress that in a country like Poland. Yet many people involved in the sustainability movement believed that peace was almost guaranteed. Paradoxically, whenever our species reaches such a conclusion, conflicts break out. Russia’s invasion of Ukraine had a profound impact on how business leaders think,” Elkington says.
“During the COVID-19 lockdown, I worked with the UK Ministry of Defence, with admirals, generals and senior air-force officers. They understand very well the consequences of threats linked to water security, climate chaos and forced migration. This is also, in a sense, an illustration of ‘hard’ sustainability. Business may believe it can slow down, but it will very quickly discover that the sustainability agenda will return with greater force, more quickly and in different forms.”
Elkington believes ESG and sustainability have become too comfortable, focusing mainly on reporting without fully understanding what the reporting and data collection are meant to achieve. In his view, organisations are overly focused on delivering information rather than ensuring it is used effectively by the right people.
Technology, particularly artificial intelligence, may offer an opportunity in this area by enabling the synthesis and analysis of vast volumes of data. The role of ESG directors and sustainability reporting will not lose importance, but both will certainly evolve.
The recently published Business Breakthrough Barometer 2026 by the World Business Council for Sustainable Development surveyed more than 500 senior executives from 50 countries, representing companies with combined revenues of USD 2 trillion. Some 92% view sustainability as a source of competitive advantage over the next five to ten years, while 89% say they maintained or increased investment over the past year.
At the same time, 68% believe a disorderly transition is more likely than a year ago, and 40% see it as a serious risk. Only 15% of businesses are confident that they are fully prepared to meet these challenges.
“Rather than losing importance, this issue will soon enter the mainstream in a fairly unexpected way,” the founder and chairman of Volans concludes.
