As we reach the end of another intense year, one question has followed leaders across boardrooms, headlines, and public debate: how do you lead when everyone is watching, and when saying less sometimes feels safer than speaking up?
In 2025, sustainability has not disappeared from the business agenda, but it has undeniably become more complex. The Bain Report: “ The Visionary CEO’s Guide to Sustainability 2025 ” highlights CEOs increasingly frame sustainability as a business case rather than as CSR, public commitment, or purpose — a trend that has grown steadily over the past decade. However, geopolitical tensions, economic pressure, regulatory uncertainty, and growing public fatigue have reshaped the landscape in which companies operate. Against this backdrop, many organisations have chosen caution, lowering their voices or retreating into silence. The rise of greenhushing is not a sign of indifference, but a symptom of a world where leadership is exercised under constant scrutiny. A world where legal risk, political backlash, and reputational exposure encourage caution, even if investment in sustainability doesn’t slow down.
This tension is particularly visible in Europe. While the ambition to lead the sustainability transition remains strong, European companies face a difficult balancing act: remaining competitive in a fragmented global economy while complying with some of the world’s most demanding sustainability frameworks. The debate around regulation, simplification, and competitiveness has intensified, often framing sustainability as a constraint rather than a strategic lever. Yet, history shows us that periods of disruption are precisely when leadership matters most, not performative leadership, but leadership grounded in clarity, courage, and long-term vision. Indeed, none of the world sustainability challenges identified as urgent two or three years ago have disappeared. Social polarization has deepened, climate urgency is breaking new frontiers , and economic and political uncertainty are on the rise . So why are companies becoming less vocal?
At the Center for Responsible Business and Leadership, we believe that silence is a choice — and one that carries consequences. When companies step back from sustainability narratives it can mean one of two choices: “do less, speak less” or “do the same/more, but speak less”. Data shows that companies (in general) are NOT doing less, also because sustainability is more and more seen as a risk/ opportunity that companies need to manage. In fact, in 2025, 88% of CEOs believe the business case for sustainability is stronger than it was five years ago. The challenge, therefore, is no longer whether to act sustainably, but how to make sustainability make sense for the business in a volatile and polarized world.
This requires moving beyond slogans and compliance, and engaging honestly with trade-offs, priorities, and constraints. Our work in 2025 has reinforced one central conviction: Sustainability is not a communication strategy, nor a moral add-on. It is a strategy for resilience and long-term value creation. Responsible Leadership, Corporate Purpose, and Strategy for Impact are not abstract concepts. We have been working hard on them over the last months and developing practical tools that help organisations navigate uncertainty, align decision-making, and remain competitive while creating value for themselves and society. Through close cooperation with large companies and SMEs, we have first-hand evidence that integrating sustainability at the core of strategy makes companies better equipped to manage risk, attract talent, adapt to regulation, and build lasting legitimacy.
Therefore, as we look ahead to the year to come, our conviction is clear: demonstrating the business case for sustainability is essential at this moment. It is the cornerstone of a new business era in which responsible leaders feel empowered to speak up — not driven by fear of external backlash, but grounded in strategic clarity and confidence.
In fact, 2026 is not the moment to retreat into silence. Nor is it the time to shout louder without substance. It is the moment to lead with rigor and intent. At CRBL, we remain committed to supporting companies that want to move from intention to action, helping sustainability make sense for the business, and business make sense for society. We are committed to strengthening responsible leadership, empowering leaders to make the choices that matter for their organizations and for the world — without turning a blind eye to what is truly important: building up sustainable and prosperous societies, now and in the future.
Leadership, after all, is not defined by who is watching, but by the choices we make in the spotlight. At CRBL, we are committed to empowering business leaders to make the best choices for their organizations and for society — not driven by fear of scrutiny, but guided by the conviction of those who lead from the front. To that end, we are launching a new four-year cycle of the Observatory of the SDGs in Portuguese companies through 2029, deepening our research on Responsible Leadership, developing more practical tools on Corporate Purpose, and advancing rigorous academic research to strengthen and assess the Business Case for sustainability.
If you want to know more, engage with us. Moving the needle requires collective effort - and your engagement matters. As the African proverb reminds us, “Alone we go faster; together we go further.” May 2026 be the year we choose to go further — together.
Have a great and impactful week!
Filipa Pires de Almeida, Executive Director, Center for Responsible Business & Leadership