If you are just catching up on this, welcome! I have discussed five key trends to look out for in 2018 here. In this review, there would be dirty talk, robots that can steal our jobs and mutated mosquitoes. So please sit back and enjoy this sci-fi, alien fest fused with bad language…
- Trash Talk
Developing countries are cleaning up their acts on waste. Kenya and Rwanda have joined over forty other nations, including China, in enacting bans or restrictions on plastic bags. Globally, 56% of waste plastic is exported to China, to be reused as raw materials for new products. But while China repurposes waste from other countries, it has been struggling with its own domestic waste management. In 2018, the economics of plastic recycling will be upended, due to a recently announced Chinese import ban and higher production of cheap US oil that can be used to make virgin plastic.
This import ban will affect developed countries like United States and Japan, who are the two biggest exporters of plastic waste to China; 87% of Europe’s waste plastic is also shipped there. It could affect the 155,000 direct jobs which are supported by the US export recycling industry who contribute more than $3 billion to federal, state and local taxes.
It is not all gloomy. China’s ban on waste imports opens up opportunities for domestic recycling processing in the US and Europe that could spur job creation and innovation. It also means that budding recyclers in Nigeria have to start thinking of what to do with the thousands of plastic bottles they collect from our streets, gutters and landfill. This year, it will be interesting for recycling companies in Nigeria to explore new and innovative ways to reuse plastic besides selling it to China.
Photo Credit: Post It Nigeria
- The rise of SuperBugs
Global efforts to tackle antimicrobial resistance (AMR – which simply means the ability of microorganisms to stop a drug from working against it, which means our malaria drugs may stop working!) are rapidly gaining momentum, and 2018 is set to be a key year for pharmaceutical companies, governments and multilateral organizations to deliver progress.
While a natural and inevitable process, the evolution of AMR has been accelerated by the inappropriate use of antibiotics in humans, animals and crops. This is rapidly decreasing the effectiveness of many antibiotics on the market and driving the growth of multi-drug resistant superbugs. Globally, more than 700,000 people are estimated to die each year of drug-resistant infections with 25,000 dying from antibiotic-resistant bacteria every year in Europe.
Addressing AMR will be the top agenda for the life sciences industry in 2018 and beyond. Companies are expected to play their part by developing new vaccines, therapies and diagnostics; ensuring access and appropriate use, and reducing environmental impacts from manufacturing, use or disposal. Other industries using antibiotics, in particular, the food/beverage and agriculture industries must also play their role in tracking and reducing the use of antibiotics.
Photo credit: Steemit
- Fair Share
In the aftermath of the Paradise Papers, and recent US tax reform, 2018 will see the spotlight continuing to shine on inequitable taxation policies and loopholes that benefit a tiny percentage of the wealthy global elite at the expense of the world’s working class. According to the leaked information from the Paradise Papers, companies such as Apple, Facebook and Nike have avoided billions of dollars in tax using offshore tax havens.
The EU has blacklisted 17 countries for refusing to cooperate with its crackdown on tax havens and placed another 47 countries such as Switzerland, Turkey and Hong Kong who have promised to reform their tax systems on a ‘gray list’. Interestingly or not so interestingly, prominent European member state tax havens such as Cyprus, Ireland, Luxembourg, Malta, Netherlands, have so far escaped blacklisting. This has been criticized by Oxfam (inserts smirk) and other experts for failing to pursue adequate action against the worst offenders.
Increased government scrutiny of tax havens is likely in 2018, with both the European Union and Canada potentially using G20 as a mechanism to push for reform. However impactful regulatory changes that effectively close loopholes are unlikely. Globally, companies are coming under greater pressure from the public and major investors to deliver social and environmental value to the global community, rather than merely creating financial dividends for shareholders. Unfortunately, this is still yet to translate into many parts of the developing south. Using Nigeria as an example, investors are still most concerned about their Earnings Per Share and ROI. They are yet to hold companies accountable for the environmental and social value they add to their host community. 
Photo credit: CNN Money
- Viva La Résilience
Climate impacts from extreme weather, natural disasters and water crises are some of the key risks faced by global companies in the new year. 2017 saw the world impacted by some of the most extreme weather in history. From savage hurricane seasons across the Caribbean and North America to record heat waves, which hit Australia, Europe, North America and Somalia.
While companies have been actively engaging in climate resiliency efforts in developing countries for years, 2017 marked a significant increase in larger-scale efforts in developed nations. Companies including Facebook, Shell and Tesla went beyond corporate donations to hard-hit places, to offering on-the-ground support and technology to help cities and regions get back on their feet after major disasters. 2018 will also see an increasing number of companies tackling climate resiliency head-on in both their operations and supply chains. It would be a win if we see green bonds and a surge of green funds solely dedicated to climate resilience and adaptation projects.
As climate change impacts become more pronounced, a growing number of companies are taking steps to assess their risk exposure and incorporate climate resilience and adaptation into business strategy. Agriculture, transportation and utilities are among the sectors that will be most affected by the changing weather patterns and natural disasters.
Extreme weather was named as the number one risk to global businesses in 2018 by the World Economic Forum. Natural disasters, failure of climate change mitigation and water crises were also listed as top ten issues. The US suffered an estimated $306bn worth of damage from storms during 2017, an all-time record. We are beginning to see more clear linkages between environmental issues and how they affect the sustainability of businesses.
2018 will see companies invest more in supply chain resiliency efforts and increase work with local communities and NGOs on projects that look holistically at climate resiliency risks. For example, water-basin risk and rehabilitation, extreme weather events, and sea level rise.
Photo Credit: Eco News Australia
- A.I Influence
Artificial Intelligence (A.I.) will help make people’s lives safer and more convenient through autonomous vehicles and smart manufacturing in the near future. It will be deployed in military combat zones, with capabilities to attack foreign states with a speed and accuracy that humans cannot defend against. In fact, A.I. will soon be embedded in most software we use whether we know it or not. Interestingly, I have begun to see machine learning in ATMs which ask me if I would like to withdraw N5,000.00 based on my withdrawal patterns in the past.
Over the last three years, Amazon has increased the number of robots working in its warehouses from 1,400 to 45,000. In two years it is expected that 10 million self-driving cars will be on the road (hopefully we would have less road rage during rush hour periods). A.I. is also being applied to agriculture, helping with the smart application of water and nutrients at the field level to help growers reduce costs and increase yields.
Companies who fail to invest in intelligent A.I. and machine learning as part of their products, services and supply chains will be lagging behind those who do, potentially losing market share as well as cost savings from efficiency gains.
As companies implement A.I. operations there will likely be a war for talent across a range of disciplines. Data scientists and cognitive programmers, linguists, psychologists and user experience (UX) experts, will be in high demand (if you are a young reader, think carefully before you choose subjects in your JAMB form o! if you are not a young reader well… no shame in adult education!). However, companies who embrace automation and other forms of A.I. that replace human workers will likely face public backlash regarding community fears of structural unemployment.
For us in the sustainability sphere, it would be interesting to see how A.I could be channelled into sustainability by translating climate-related data and trends into easy language for businesses to integrate into their operating models. Banks, insurance companies can use this information to risk rate customers, price insurance premiums etc.
From voices for women to clean energy, trash talk to the battle of superbugs. This would be an interesting year and I can’t wait to read, write and have conversations about them!
Photo Credit: Eventbrite.com
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