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Commons App Informing, Facilitating Mass Shifts in Climate-Influenced Consumer Living & Spending

1 09 2023

Image: Commons

Highlighting the impact of individual purchases and their associated emissions output, the app — fresh off a large funding round — is evolving to meet the daily spending directives of its users. By Geoff Nudelman from Sustainable Brands • Reposted: September 1, 2023

There’s a lot of emphasis being placed on consumer spending as a real way to drive measurable impact in the fight against climate change; but for many everyday consumers, it remains one of the most confusing avenues of action. There are dozens of standards and certifications to understand, along with a never-ending stream of data connected to purchases (both good and bad).

That’s where the potential of consumer spending/emissions measurement app Commons comes in. The app — which was launched in 2019 as Joro and relaunched this March under its current name — allows consumers to connect credit cards, bank accounts and other financial information to a system that measures the emissions output of every purchase; and it offers multiple ways to reduce impacts — whether through simple switches, more involved spending transitions or via the purchase of verified offsets.

“We learned a lot about what people were actually looking for,” Commons founder Sanchali Pal told Sustainable Brands®, noting that the app began primarily as a carbon tracking and offsetting platform. “It’s more about the spending choices we make — and that this is not one person’s responsibility, but the collective’s.”

The app is only a few years old; and while the company doesn’t share full user data, Pal said users are in the “tens of thousands.” Commons is currently available in the US and Canada(with most users in the former), and mostly used in large cities by the 25-55 demographic. So far, the app has raised $13.5 million — the company says investors include Sequoia Capital, Norrsken, entrepreneurial platform Incite, climate investors Amasia; and the founders of Headspace, Fitbit, Candy Crush and Nest; as well as public figures including actor Maisie Williams, Incubus’ Mike Einziger and Arrive, (the VC arm of Jay-Z’s Roc Nation empire).

Like a lot of tech companies and apps, the leverage is in the collected data — and the trends and spending shifts that the data show. Commons’ demographic, which is likely somewhat affluent (Pal shared that most users have a credit or debit card), offers a small snapshot of how these changes can drive impact in large, urban areas in the US and Canada. It also helps users understand the realistic impact of their purchases.

“Something that people don’t realize is that the goods and services we buy also have a footprint,” Pal says. “People are quite surprised by something like a t-shirt and how that compares to the footprint of eating a burger, for example — or how driving can have a similar footprint to buying makeup. Products and services having that footprint is a novel idea for many people.”

Pal notes that one area where the app is noticing a larger shift is in buying secondhand. The number of Commons users shopping secondhand grew 48 percent between 2021 and 2022; and Pal says content on the app and website associated with shopping “more sustainably” for apparel is some of its most popular.

There are also broader shifts happening in the ways Commons users get around. According to its 2022 Impact Report, 40 percent more Commons users took public transit in 2022, compared to 2021; and users already taking public transportation did so 75 percent more often. App users also bought 63 percent less gas than the average US consumer in 2022 and 36 percent less gas than in 2021. Lastly, it’s no surprise that Commons users also use EV stations at a high clip.

According to Pal, in 2022 the average user reduced their emissions by 20 percent and saved $200 a month via all the app has to offer.

To provide realistic updates on the impact of a particular purchase, Commons updates its data daily, monthly, quarterly or annually — depending on the specific metric. Pal notes the example of gas prices, which the company analyzes daily since the price per gallon regularly fluctuates; and the numbers Commons uses also needs to reflect inflation and other economic movers. In other cases, the movement isn’t enough to measure more than once every few months (for something such as more expensive durable goods).

Education a key component

Almost anywhere you move inside the Commons app, there’s an opportunity to learn. Whether it’s about the impact of taking one less flight or comparing your footprint to those of other users; there’s no shortage of measurable, comparable and, most importantly, actionable advice.

“Users may be looking for the kind of thing they didn’t know how to act on before using our products,” Pal says. “They may have been interested in what could have the most impact in their lives but didn’t know where to start. We have found that folks who are quite educated (on sustainability) still find the product useful.”

I was rather impressed by this once I linked up my own credit card and saw my spending data populate through the app. The home page shows a graph estimating the emissions output of all my purchases on that card in the current month and compared to prior months of my choosing.

One of the app’s newest features is breaking down purchases under a “sustainable purchases” category — which singles out specific purchasing categories such as public transit, rideshare, renewable energy and more. Under Commons’ classifications, I make few “sustainable purchases” — which I’m not particularly sure I agree with, but I would assume that category will continue to be refined.

I also appreciated a level of transparency and discussion around Commons’ choices of offsets. The company’s Offset Portfolio operates under four pillars, and users can take a rather deep dive into understanding the value and impact of each offset under each pillar. Inside the app, I was prompted to pay a certain amount each month to support these offerings (somewhat commensurate with my estimated emissions output) — which, if I took the time to sift through all of the information, I’d likely find a compelling way to reduce my personal impact.

Of course, only having “tens of thousands” of users as the sample population is ultimately a small slice of the entire consumer pool — but certainly enough to potentially influence some changes within a certain, finally comfortable section of the spending public. I could see myself making some small changes based on seeing the data there in plain sight. Once you have the graphs and metrics nicely laid out in front of you, it becomes clearer to see how the collective impact in how and where we spend could make a big difference.

“One of the advantages of what we’ve built so far is that we can connect with you no matter where you spend money,” Pal says. “Ultimately, we’re trying to shift spending behavior and show how money matters.”

To see the original post, follow this link: https://sustainablebrands.com/read/behavior-change/commons-app-shifts-climate-influenced-consumer-living-spendinghttps://sustainablebrands.com/read/behavior-change/commons-app-shifts-climate-influenced-consumer-living-spending

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Tags: accountability, Commons, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, Joro, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, social responsibility, sustainability

Human Resources most influential’s top priorities: sustainability, ESG and achieving net zero

1 09 2023

By Matt Gitsham from Human Resources Magazine UK • Reposted: September 1, 2023

This year’s HR Most Influential (HRMI) survey found that there was a strong view that responsibility for environmental, social and corporate governance (ESG) sits with everyone in the business – but that HR has a vital role to play, alongside leadership as supporter, partner and educator.

Approximately 65% of survey respondents said their organisation had a formal strategy for improving performance on ESG/sustainability.

In most cases, it appeared that this strategy was being driven either by the board or some kind of central ESG function.

HR practitioners were, however, playing a key role in supporting the strategy from a people perspective, with a particular focus on inclusion and diversity, working conditions, fair pay, wellbeing and ethical business practice.

“Sustainability, ESG and helping businesses go net zero are now crucial components of business and people strategies,” said one respondent.

“HR needs to be at the decision-making table and influence from there,” said another.

“To make HR the ‘owner’ would run the risk of these important topics being ‘HR projects’. ESG/sustainability needs to be a belief system and not just a process.”

Educating the workforce

Survey respondents also felt HR had an important role to play in educating the workforce, with 52% saying leadership development on ESG/sustainability was being offered across the business.

“HR can help people unlock their understanding of how to embed this in day-to-day work”, and “HR has a key role in the education of the workforce, to ensure they understand ESG/sustainability and the impact of their decisions,” were among the comments.

There was a recognition among HR professionals that a focus on ESG could be a competitive advantage when it comes to recruitment, retention and brand reputation.

Employees were increasingly looking for organisations that support this agenda, and were voicing a desire to work for companies with strong values and a proactive commitment to fighting issues such as climate change and inequality.

“Ultimately, people are voting with their feet and basing consumer and employment decisions on the sustainability actions of companies,” said one respondent.

Developing sustainable leaders

It is good to see this growing recognition among HR professionals of the important role they have to play in both championing and supporting ESG efforts.

At Hult International Business School, we have been conducting research specifically into how leadership roles need to change in response to the critical environmental, social and human rights challenges facing us all.

Our findings underline the need for innovative learning and development interventions to help leaders, managers and future talent navigate the sustainability transitions that are happening right now.

Building literacy on sustainability and ESG issues is of course an important starting point, but our research suggests that first hand experiences are at the heart of what it takes for leaders to build the emotional connection and commitment to put the sustainability agenda front and centre in their work.

For the leaders interviewed in our study, this might have meant experiences such as engaging with people living in poverty, personal experience of the impact of climate change, or experience of the changing interests of key partners and stakeholders.

Influential mentors and participation in professional networks focused on ESG had also been formative experiences for many of our interviewees.

This has implications for the design of learning and development, as well as for the way HR approaches the wider task of managing talent and succession planning programmes.

Leadership development activities need to be structured to create opportunities for current and future senior leaders to have precisely these kinds of personal, first-hand experiences, through powerful experiential learning.

HR professionals also need to value these kinds of life experiences when making decisions about recruitment, career development and succession planning, and make sure they are embedded in the HR processes that underpin these.

As one survey respondent said: “It’s time for HR to contribute and view this as an opportunity to strengthen a purpose-led EVP just as much as an opportunity to help save our planet.”

The next stage of our research will look at the evolving role of HR in sustainability, surveying what kinds of activities HR departments are increasingly engaging in in relation to sustainability and ESG, and what they are learning about what works.

Matt Gitsham is director of the sustainability research lab at Hult International Business School. To see the original post, follow this link: https://www.hrmagazine.co.uk/content/features/hr-most-influential-s-top-priorities-sustainability-esg-and-achieving-net-zero/

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Tags: accountability, corporate social reponsibility, corporate social responsibility, ESG, green marketing, Human Resources, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, social responsibility, sustainability

Introducing Resilience Science: A Visionary Shift for Corporate Strategy and Reporting

29 08 2023

By Luke Heilbuth via Sustainable Brands • Reposted: August 29, 2023

Climate resilience is the ‘resilience of a company’s strategy and business model to climate-related changes, developments and uncertainties.’ This language is worth reflecting on, as it brings the concept of resilience science into mainstream business thinking.

Background

In June, the International Sustainability Standards Board (ISSB) issued its inaugural standards — IFRS S1 and IFRS S2. The Standards create a common language for companies to report on how sustainability and climate-related risks and opportunities affect their prospects. They reflect what investors want, and will form the basis of mandatory climate-related reporting requirements in many advanced jurisdictions (aside from the United States).

This article explores the most interesting part of IFRS S2: the climate-resilience assessment. Building on the TCFD — which IFRS S2 has now supplanted — climate resilience is defined as the “resilience of a company’s strategy and business model to climate-related changes, developments and uncertainties” [emphasis added]. This language is worth reflecting on, as it brings the concept of resilience science into mainstream business thinking.

Tipping points and ignorance

Invented by Canadian ecologist C.S. “Buzz” Holling in 1973, resilience science explains how human-natural systems (the interconnected relationship between humans and the environment) do not exist in a fixed state — but are instead characterized by constant change and tipping points.

This is not how businesspeople usually think. Instead, they assume that a complex system — like an organisation — is stable, isolated, measurable and linear. Take COVID: Most of us thought things would be disrupted for a time before ‘bouncing back’ to normal. The mistake is right there in the language. Post pandemic, we didn’t go back. The way we live and work changed.

A better understanding of the world acknowledges that systems go through adaptive cycles of growth, decay, restructuring and renewal. As business leaders, we must acknowledge our lack of certainty and control. We should reimagine our actions, plans and strategies as experiments that, as in science, must be constantly re-evaluated.

As author Nassim Taleb says in Fooled by Randomness, probability is “the acceptance of the lack of certainty in our knowledge and the development of methods for dealing with our ignorance.”

That’s why IFRS S2 is not the dry reporting standard it appears at first view, but something quite visionary — it embraces uncertainty and consents to our ignorance. It asks us to see through the ‘illusion’ of the pristine, perfectly self-contained balance sheet — where the ledger is always squared, and all things are known.

Focus on the process

To explain the “changes, developments and uncertainties” that arise from the physical and transition risks and opportunities of climate change, a company is required to use scenario analysis. This is not meant to predict what might happen in the future — but to offer up ‘what if’ scenarios to help your business better think through its options and plan accordingly.

IFRS S2 says you must disclose the “inputs and key assumptions” used in your scenarios — not just the result. In other words, your explanation of the process is essential. This is because investors want to test the quality of your thinking, rather than simply reading a claim that your business is resilient.

Staying practical

The method of scenario analysis you employ is up to you, and should be “commensurate with your circumstances.” For most businesses, an expensive, quantitative-modelling exercise is not required or even the best option. The authors of IFRS S2 recognize the burden that companies face in complying with a science-based approach to climate change.

As a result, they have sought to navigate a practical approach that requires the use of “all reasonable and supportable information” (the floor of the effort required) available at the reporting date without “undue cost or effort” (the ceiling). The concept is explained by ISSB Vice Chair Sue Lloyd in this webinar. The IPCC, IEA and PRI all provide publicly available scenarios which provide the basis for a useful, cost-effective and strategic approach.

Finally, your company is not required to perform a scenario analysis as part of the reporting effort each year. The minimum requirement for updating your scenarios is whenever you review your corporate strategy as part of the strategic planning cycle. That said, each year you must revisit the assumptions that underpinned your analysis and consider whether any changes affect the assessment of your company’s climate resilience. The IFRS refers to this annual update as a “resilience assessment.”

Scenario analysis done well will ultimately help you fine-tune your overall strategy and business model — enhancing your business’s prospects and resilience against the vagaries of an uncertain future.

In recent years, investor portfolios have grown too big to avoid systemic risks such as climate change. Recognizing their vulnerability to black swans, institutional investors have pushed investee companies to prioritize resilience over short-term cost optimisation; the IFRS Standards reflect the trend. As Taleb says, the defining characteristic of change is that it cannot be predicted: “This is the central illusion in life — that randomness is a risk — that it is a bad thing.”

To see the original post, follow this link: https://sustainablebrands.com/read/new-metrics/resilience-science-shift-corporate-strategy-reporting

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Tags: accountability, climate resilence, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, IFRS s2, ISSB, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, social responsibility, sustainable branding

Rethinking Growth: Is Degrowth The Answer To A Sustainable Future?

22 08 2023

Is continuous growth compatible with our sustainable development goals? Photo: GETTY

By Nils Rokke, Contributor via Forbes • Reposted: August 22, 2023

The word “degrowth” might be unfamiliar to many ears, but its meaning has never been more critical to understand. Our current economic model’s foundation lies in a presumptive flaw—the continuous belief in infinite growth. But what happens when the pillars of this belief crumble?

For years, experts warned of the impending limitations of continuous growth. The groundbreaking 1972 book, “Limits to Growth,” spotlighted our planet’s sustainable boundaries. This work evaluated how population, living standards, and resource utilization converge and affect sustainability.

Almost four decades later, Professor Jorgen Randers, one of the book’s authors, published an update titled “2052.” Here, he highlighted a critical turning point: our economic model becomes flawed when equity becomes central, and justice prevails.

Consumption and wealth continue to define strategy

Western countries often equate a happy life with high resource consumption and wealth. However, Bhutan offers a contrasting model. It introduced the “happiness economy,” where the nation prioritizes citizens’ happiness over economic growth, suggesting that happiness can be decoupled from resource-intensive activities.

Yet, the growth principle continues to dominate global strategies, evident in the UN’s Sustainable Development Goals (SDGs). Target number 8, for instance, emphasizes “decent work and economic growth.” Recent Holberg Prize awardee, Professor Joan Martinez-Alier, has openly criticized this, arguing that such a goal might be incompatible with other SDGs.

Introducing degrowth and demand reduction

“Degrowth” is a term that advocates for a deliberate, socially just, and equitable reduction in the scale of production and consumption. The goal of degrowth is to achieve better well-being and improved ecological conditions, reducing the size of the global economy to fit within the planet’s biophysical limits.

There are several key principles to degrowth, including sustainability, social well-being, equity, direct democracy, and localized economies.

Understanding degrowth also requires us to examine the concept of demand reduction. This can be categorized into three intertwined yet distinct components:

Efficiency: Maximizing output while minimizing resource use. It’s about doing more with less.

Sufficiency: Re-evaluating the amount of production and consumption truly necessary for human well-being.

Behavioral Change: Shifting societal habits towards sustainability, wherein society collectively and willingly opts for less consumption.

Demand reduction is usually only discussed in policy debates regarding a short-term response to the energy crisis, and rarely as a prerequisite to reaching net zero.

Sometimes the term degrowth is confused with post-growth, a common designation of the various paths we can take when growth has stopped or declined. This gives more freedom to choose paths that allow a continuation of some practices at a smaller scale, whereas degrowth is a clear strategy to decrease growth. Degrowth is therefore one specific pathway in the post growth concept.

Degrowth requires a mindset shift

Jason Hickel, an economic anthropologist from the University of Barcelona, is a staunch advocate for degrowth. At a recent Brussels conference attended by top EU officials, Hickel emphasized the urgent need to reconsider GDP growth as our benchmark for societal success.

He critiqued the western world’s continued exploitation of global resources, effectively maintaining a colonial economy. His take: the real focus should be on meeting human needs, not just growth. However, this suggests a more dominant role for state governance, a model reminiscent of eco-communism, which has been criticized in the past.

Timothy Parrique from Lund University echoed these sentiments. He refuted the idea of producing more while using fewer resources, highlighting the necessity of a complete decoupling to stay within planetary boundaries.

Challengers to degrowth

However, the degrowth principle isn’t without its challengers. How, they argue, can we meet the energy and food demands of a growing population without growth? How can we simultaneously tackle climate change, poverty, and other pressing challenges without the momentum that growth provides?

Nobel laureate Joseph Stiglitz raises an essential consideration: while sacrifices may be necessary, ensuring they’re fairly distributed is crucial. The core challenge with degrowth lies in this equity—how can we ensure everyone gets a fair share?

We must also consider if degrowth is genuinely a viable economic model. It could be argued that if our growth-centric model continues unchecked, it may simply stagnate and consequently ‘degrow’ on its own. But what repercussions would such organic degrowth have on our socio-economic structures?

The heart of the matter isn’t just about stopping growth but ensuring that any model adopted, whether growth or degrowth-oriented, satisfies people’s real needs in a manner that is considered fair and transparent.

Exceeded sustainable limits

Professor Johan Rockström of the Stockholm Resilience Centre, introduced and spent years analyzing the “planetary boundaries” principle. The findings are alarming: we’ve exceeded sustainable limits in various critical areas, from nitrogen cycles to extinction rates.

Moreover, while technological advances push for efficiency, there’s no evidence to suggest that increased efficiency results in decreased resource use. Instead, it seems to enable more people to use these resources, which again poses the question: how can we truly embrace degrowth?

Looking at unsustainable economic activities brings the issue into sharp focus. For instance, the sight of massive cruise ships and leisure boats at picturesque sites serves as a reminder of our high-resource consumption habits.

Infinite growth in a finite world is, by definition, unsustainable. Yet, as a society, we seem trapped in this growth mindset because we haven’t found an alternative. More research, discussions, and debates on these concepts are crucial.

The UN’s latest review on SDGs called for a “wholesale reform of our morally bankrupt financial system.” While such an acknowledgment is a step forward, the commitment to GDP growth as a primary measure persists. It’s high time for a global debate on the sustainability and equity of our growth principles.

Nils Rokke is Executive Vice President in SINTEF, Norway’s largest research institute. To see the original post, follow this link: https://www.forbes.com/sites/nilsrokke/2023/08/21/rethinking-growth-is-degrowth-the-answer-to-a-sustainable-future/?sh=23fda7203ba5

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, De-Growth, ESG, green marketing, Limits to Growth, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, sustainability, sustainable branding, sustainable brands

Busting Myths About ESG and Sustainable Investing

17 08 2023

The Manhattan Skyline: Photo: Patrick Tomasso/Unsplash

By Mary Mazzoni from Triple Pundit • August 17, 2023

“Anti-ESG” rhetoric on political campaign trails and cable news breeds misinformation and creates misunderstanding about the use of environmental, social and governance factors in business. This week we’re breaking down some of the most common myths we see out there about ESG and what it means for businesses and investors, with insight from Andrew Behar, CEO of the shareholder advocacy organization As You Sow.

Myth: ESG is just a big greenwash. Companies aren’t really improving.

Back in 2019, the CEO-led Business Roundtable — which represents executives at some of the largest U.S. companies — issued a statement revising the “purpose of a corporation.” After decades of saying companies should make all of their decisions based on maximizing short-term shareholder profit, the executive group proclaimed the private sector has a duty to all of its stakeholders, including employees, customers and communities. That means considering things like environmental sustainability and social equity alongside profit — in other words, adopting ESG principles.

Those are big words from a lobbyist group that includes executives from major financial companies like BlackRock and JPMorgan Chase, and many onlookers weren’t convinced. Environmental and social advocates said businesses weren’t living up to what they put on paper, and — particularly as the anti-ESG narrative took hold — politicians, pundits and social media warriors took aim at companies for the mere mention of considerations beyond the bottom line. The result? Companies got quieter about their work in ESG, a trend known in sustainability circles as “greenhushing.”

“Five years ago, companies were doing nothing and taking a victory lap,” Behar said. “Right now we have companies doing stuff — and I can tell you, it’s with greater intensity, with greater depth — but they do not want to take the victory lap. It’s a better situation, because they’re actually changing their policies and practices, but it’s the greenhushing. They want to be quiet, because there are too many trolls out there.”

Behind the scenes, companies are spending more on new programming tied to sustainability and social impact. They’ve also agreed to gather more information about things like diversity, equity and inclusion (DEI) in their workforces and the ways climate change impacts their supply chains — and disclose that information to investors and shareholder groups like As You Sow.

“When the declarations were made in 2019 about the new purpose of a corporation, that was really the moment where all of the companies said, ‘Okay, if we want to outperform, if we want to succeed, we’re going to be shifting our fundamental philosophy,'” Behar told us.

In this sense, anti-ESG critics are about four years “late to the party,” he said. “There’s no question in my mind that we are well along this implementation phase of a new purpose of a corporation and this transformation to a regenerative economy based on justice and sustainability. The extractive economy is winding down. And it’s just a question of how fast and how much pain they’re going to cause everybody else in the process.”

Myth: ESG and sustainable investing are anti-business.

Many far-right critics characterize ESG as something brand new, a symptom of the “wokeness” and “cancel culture” they say grip modern society. But ESG isn’t new. The term was coined back in 2005. And even before the Business Roundtable’s 2019 statement, thousands of professionalswere working as “ESG analysts” across the mainstream financial sector.

For investors, ESG is primarily a risk management and long-term growth mechanism. By understanding how companies manage their supply chains, source their ingredients and treat their workers, investors can better understand which companies are prepared for the future. Likewise, companies leverage ESG principles to manage and mitigate the risks they face.

“Overall, what we’re seeing here is just basic good business practices being demonized for political ends and people spending a lot of money to do it. And a lot of that is trying to stop what we see as market forces that have already happened — this is way over,” Behar said. “The companies that have adopted justice and sustainability are the ones that people want to put their money in, because they know those companies are going to succeed over the next five, 10, 20 years.”

Myth: If companies embrace ESG, goods and services will become more expensive.

Many individual products that are marketed as “sustainable” do come at higher prices. Critics often use this point to argue that the more companies consider ESG principles, the more expensive goods and services will become across the board.

But this misses critical context around the state of modern global supply chains. Social inequality and environmental crises already make it more difficult — and more expensive — to do business. ESG principles offer a way to manage and reduce that risk, which stabilizes prices over the long term.

Take climate change as an example and what Behar refers to as “climate inflation.” His team at As You Sow aggregates news articles that cover increasing commodity prices tied to climate change. They’ve noted a clear upward pattern over recent years, with the spring heatwaves in Europe that all but decimated Spain’s olive industry among recent examples.

“They had no olives, so olives are more expensive,” Behar explained. “Coffee‘s more expensive, chocolate‘s more expensive, cotton‘s more expensive. Cereal‘s more expensive. The boiling of the planet is really having some impacts on global commodity prices.”

Myth: You can’t invest sustainably unless you’re rich.

Indeed, institutional investors like asset managers, endowments and foundations increasingly use ESG factors to decide where to invest their money. ESG-focused institutional investment is projected to increase by 84 percent by 2026, making up around a fifth of all assets under management.

But you don’t have to be rich to invest sustainably, or to leverage your voting power as a shareholder in support of ESG. Last month, we outlined some simple ways for any and everyone to get involved with sustainable investing if they have the interest — from voting their proxies on individual stocks, to voicing their support for ESG in their 401(k) plans.

“We know we’ve got this vast majority of folks who actually want to vote to get corporations to provide a livable planet,” Behar said. “It’s a matter now of just getting people to talk about it.”

To see the original post, follow this link: https://www.triplepundit.com/story/2023/busting-myths-esg/781471

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, ESG Investing, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, reputation management

The Role of Corporate Social Responsibility in Executive Decision-Making

15 08 2023

Photo: DEEMERWHA STUDIO/STOCK.ADOBE.COM

Is your organization ready to implement a corporate social responsibility strategy? Discover the impact of CSR on executive decision-making. By Tim Madden via Newsweek • Reposted: August 15, 2023

Here’s a reality that can’t be denied: the notion of corporate success is being radically reshaped. The financial bottom line is no longer seen as the sole measure of a company’s achievement.

In today’s connected, hyper-transparent world, there’s a growing call on CEOs and leaders to create sustainable, measurable value for shareholders and society.

This shift in mindset has led to the emergence of corporate social responsibility (CSR) as a significant factor in executive decision-making. CSR encompasses activities aimed at achieving social, environmental, and economic benefits while encouraging ethical behavior.

Executives who fail to integrate CSR into their decision-making fabric run the risk of alienating stakeholders, damaging their brands, and eroding their competitive positions.

What Is Corporate Social Responsibility?

Here’s a question: who does your company truly serve, and how?

The answer to this question is at the core of CSR — and may be a bit eye-opening when you consider your own organization. It’s no longer enough for a company to focus solely on generating profits and shareholder value; they must also consider their actions’ social, environmental, and economic impacts.

Corporate responsibility encompasses the idea that companies have a duty to their stakeholders — including shareholders, customers, suppliers, employees, and society — to operate ethically and transparently.

CSR encompasses various initiatives, each of which is anchored by four key tenants:

1. Ethical functioning: Upholding ethical standards across all business operations, ensuring stakeholder fairness, integrity, and respect.

2. Social equity: Fostering social inclusivity and development via diversity programs, support for disadvantaged communities, and human rights advocacy.

3. Environmental stewardship: Adopting sustainable practices to lessen the company’s environmental impact through waste reduction, carbon emission control, and investment in green energy.

4. Community engagement: Participating in community betterment through philanthropy, volunteering, and local event sponsorship, contributing to a company’s external social responsibility profile.

4 Reasons Why Your Leadership Must Adopt a CSR Mindset

While being viewed as a socially responsible business is an excellent growth strategy, there’s more to it than just a good PR move. Here are four reasons why every leader should emphasize corporate social responsibility within their organization:

1. Attracting and Retaining Talent

Potential employees are looking beyond attractive salaries and traditional benefits. They’re interested in their company’s values, seeking employers who share their commitment to positively impacting society.

Recent studies show that three-quarters of millennials are looking into a potential workplace’s environmental commitments when in the market for a job. And once on board, employees proud of their company’s CSR commitments tend to have higher engagement and loyalty, reducing turnover rates and boosting productivity.

2. Building a Positive Corporate Culture

CSR initiatives foster a positive corporate culture. Employees feel valued when companies commit to ethical practices, invest in their well-being, and engage in initiatives for society.

When your internal team is united and inspired by the same values, a positive company culture radiates to external stakeholders — customers, suppliers, partners, etc. This can lead to increased trust in your brand and stronger relationships with all those involved.

3. Strengthening Community Relations

Companies don’t exist in a vacuum — they’re part of broader communities. By investing in CSR initiatives, you also invest in the health, welfare, and prosperity of the community around you.

This mutually beneficial relationship with the community can build trust and goodwill between your organization and its stakeholders, inspiring a more potent connection while helping create economic opportunity in the region you serve.

4. Enhancing Investor Attraction

Here’s another reality: CSR is a growing investor concern. Demonstrating a commitment can attract more investment, improve stock performance, and increase market value. Rather than viewing CSR as an expense, it’s more effective to think of it as an investment in your organization’s future.

Practical Steps to Develop and Implement CSR Strategy From the Top

Developing and implementing a CSR strategy isn’t just a matter of well-intentioned ideas. It requires a structured approach, starting from the very top of the organization:

1. Align CSR with your company’s vision and values: Before diving into specific CSR initiatives, take a step back and look at your current values. Can you easily align your CSR strategy with your company’s vision, mission, and values to create an authentic message?

2. Conduct a stakeholder analysis: Identify and analyze the needs and expectations of your key stakeholders, including employees, customers, investors, and the community. This can help you identify the CSR areas that are most relevant to your business and stakeholders.

3. Set clear and measurable goals: Set clear, measurable goals for your CSR strategy, just like any other business initiative. Track progress, adjust, and aim for targets like environmental impact, employee diversity, or community contributions.

4. Create a CSR team: Appoint a dedicated team or CSR officer to drive your CSR strategy. They’ll coordinate activities, monitor progress, and maintain stakeholder dialogue — with the resources and authority to execute effectively.

5. Communicate and engage: Keeping communication channels open is critical to ace CSR. Keep stakeholders informed about CSR goals, initiatives, and how far you’ve come. Engage them by inviting employees to volunteer, consulting customers on sustainability, and including investors in ethical business discussions.

6. Evaluate and adjust: Assess and adjust CSR strategy by soliciting stakeholder feedback and gauging impact. Continuous improvement is key to a successful, long-term commitment.

Guide Your Company Into a CSR Future

As a leader, developing and maintaining a corporate social responsibility strategy is crucial to propel your company’s success. The more you know about the ups and downs of CSR — including the challenges and opportunities — the better equipped you are to spearhead CSR initiatives.

The goal is to make a sustainable, long-term CSR strategy that lives up to your stakeholders’ expectations and delivers measurable results, now and in the future. Don’t take any risks that could hinder your corporate success — instead, improve your initial strategy, evaluate, and remain flexible.

To see the original post, follow this link: https://www.newsweek.com/role-corporate-social-responsibility-executive-decision-making-1819230

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Tags: accountability, Community Relations, corporate social reponsibility, corporate social responsibility, CSR, DEI, ESG, Reputation, responsible brands, sustainability, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG

There is No Singular Solution for DEI Cuts: So, Now What?

12 08 2023

DEI cuts will cost companies more in the long term and make them less able to attract and retain top talent. Image credit: fauxels/Pexels

By Riya Anne Polcastro from Triple Pundit • Reposted: August 1, 2023

It’s been a bad year for diversity, equity and inclusion (DEI). Budget cuts and layoffs hit corporate and academic DEI departments hard in 2022. The trend backward comes on the heels of rapid growth in the years prior. And while cuts may be one way for companies to tighten their belts as post-pandemic sales drop, future repercussions will likely bring regret.

Short-term gains, long-term losses

Cuts to DEI may lower overhead in the short term, said Ritu Bhasin, a DEI and leadership expert and the author of “We’ve Got This,” a book about finding belonging. “The problem is that the price tag is greater in the long term.”

Companies face a number of consequences when they focus on immediate cuts to the bottom line instead of valuing diversity and creating environments that are inclusive and supportive of all people. “Creativity and innovation will suffer,” she said. “And they’ll be less able to capture market share.”

Bhasin breaks this down to a matter of talent, explaining that the companies making cuts to their DEI programs will be less able to attract and retain skilled workers. With employees feeling less psychological safety in these spaces, attrition will increase, and those that remain may be more cautious about sharing creative solutions.

Diversity’s positive effects on profitability are well-established. And yet, in addition to slashing DEI departments and programming, quite a few companies are unsurprisingly showing a reduction in new hire diversity since the middle of last year.

Bucking the trend

Fortunately, not all businesses forget the importance of recruiting people from a variety of backgrounds and aligning workplaces accordingly. In particular, consumer-facing businesses are less likely to cut DEI programming, Bhasin said, because they recognize the need to reflect the diversity of their customers.

“Banking isn’t seeing the elimination of DEI either, or it is minimal [in comparison],” she said. This also makes sense, considering that financial institutions serve consumers directly and may have a better understanding of the need to reflect their customer base.

But for industries making the biggest cuts, choosing short-term monetary profit over long-term effects “reflects an overarching underestimate of the importance of DEI,” Bhasin said. “And it demonstrates that it was a performative commitment to begin with.”

What are the solutions to widespread cuts in DEI?

So, what can be done about it? “It’s a tricky, challenging problem,” she said. “The DEI leaders who helped to grow understanding of the need are being cut. Those who raised awareness are being let go.”

DEI and leadership expert Ritu Bhasin — *DEI and leadership expert, Ritu Bhasin. Images courtesy of Ritu Bhasin*

Bhasin doubts employers can be counted on to see the light. “They’re the decision-makers. Who is going to convince them?” she said, noting that perhaps the DEI team or other executives can try. Additionally, employees could choose to leave or become increasingly vocal. “But that’s deeply problematic,” Bhasin said. “It puts the responsibility for change on the community that is being affected.”

She recommends a multi-pronged approach, in which shareholders, clients and consumers hold companies accountable. Depending on the type of business, some groups may have more power than others. With companies that don’t deal directly with the public, it may be up to shareholders, clients and contractors to speak up.

For those that provide consumer products and services, “we can vote by where we spend our money,” Bhasin said. “Stop consuming.” One example of this is Twitter, which has notoriously lost both users and advertisers since billionaire Elon Musk took over at the end of October 2022.

Twitter’s DEI team was decimated upon Musk’s acquisition — reportedly shrinking from 30 positions to just two. And while that is not the only reason for the drastic drop in Twitter advertising, it certainly has a huge impact. The social media site lost nearly half of its marketing revenue as it became a bastion for brazen biases and vehement hatred.

But for all the talk of waning sales and falling profits, overall, corporations are still raking in the dough. While corporate windfalls have not continued at the rate they did in 2021, they remain astronomical when taken into long-term historical context. As such, cuts to DEI program budgets and staff are not only unnecessary, but they are also incredibly unwise. It will ultimately take all of us to set things right.

To see the original post, follow this link: https://www.triplepundit.com/story/2023/dei-budget-cuts-solutions/780771

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, DEI, ESG, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : corporate social responsibility, DEI, ESG, sustainability, sustainable branding, sustainable brands

Can Sustainable Practices Generate Business?

12 08 2023

Photo: Getty

By Yusuf Amdani, Forbes Books Author via Forbes.com • Reposted: August 12, 2023

While 90% of executives state that sustainability is important, not as many are acting on green policies, according to the report “Investing For a Sustainable Future” which appeared in the MIT Sloan Management Review. Only 60% of companies have sustainability strategies in place. Without a green vision at the top, operational levels run the risk of using more resources than needed in everyday practices.

It may be a question of time: the world’s population grew from 2.3 billion in 1937 to 7.8 billion in 2020, per the Green Business Bureau. With more people, the carbon in the atmosphere has increased from 280 parts per million to 415 parts per million during that same timeframe. Globally, organizations are recognizing the need and searching for a solution to become more earth conscious.

Those interested in funding businesses are just as interested in sustainable solutions, with 85% of investors considering environmental, social, and corporate governance (ESG) factors as they make decisions, according to Gartner research. Among banks, 91% monitor ESG performance of investments. These groups see that consumers are asking for green strategies and that sustainability can lead to long-term profitability and performance.

Setting the tone for both current and future generations begins with effective, ongoing efforts that coincide with the U.N.’s Sustainable Development Goals. These outline actions for all countries—both developed and developing—to carry out in a global partnership. When businesses step up and implement changes, others will take notice and be ready to join in.

Here are some of the proven sustainable practices that can generate business:

1. Opting for Renewable Energy

In developing countries, the infrastructure may not support 24/7 electricity in every town and village. For companies that depend on uninterrupted processes and timely deliveries, putting in a solar-powered system could be the answer. Drawing from the sun’s rays to produce and circulate energy, operations can continue while simultaneously lowering electricity costs. Companies that lean into renewable energy will also benefit from the opportunity to show shareholders and customers that they are actively working to reduce their carbon emissions.

2. Sourcing Recycled Materials

Switching from ready-made supplies to recycled fibers in a textile plant can have a significant impact. Waste is reduced, products are manufactured with repurposed materials, and customers can join the cause by purchasing finished items. Among Gen Z shoppers, the up-and-coming consumer demographic, 73% are willing to pay more for sustainable products, per a report from FirstInsight. Looking for ways to recycle materials within a plant can lower manufacturing expenses and enable companies to prepare for upcoming regulations.

3. Promoting Plants and Nutrients

By 2030, the Amazon rainforest is predicted to be downsized to such an extent that it will not provide enough water to support its plant life, as reported by the Green Business Bureau. While companies can certainly fund reforestation campaigns, they can also start their own—right in their backyard. Industrial parks may have spaces where they can plant new trees and house a nursery. New flowers and trees could be distributed among the community. Organizations can also look for an area to carry out composting efforts like the Bocashi method, which yields organic fertilizers that can be used on plants.

4. Measuring Sustainable Metrics

Tracking sustainability programs and efforts can help staff members see progress and allows investors to gain insight into a company’s long-term objectives. This starts with choosing metrics to measure and certifications to obtain. From LEED to ISO 14001, TRUE (Zero Waste), and Great Place to Work®, there are many paths to pursue to implement sustainable processes and systems. Issuing a report every year creates a synergy that the company can build on and helps further share ESG objectives and achievements with interested parties.

Sustainable practices that deliver results, including reduced costs, greater efficiencies, and higher levels of well-being among workers, will be the drivers of tomorrow’s companies. To be prepared for heightened awareness and regulations surrounding ESG, organizations will do well to start today. Looking at what can be done and taking small steps can lead to long-term results and a lasting presence.

To see the original post, follow this link: https://www.forbes.com/sites/forbesbooksauthors/2023/08/11/can-sustainable-practices-generate-business/?sh=33bffd205879

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, LEED, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Now Is the Time To Double Down on Corporate Social Responsibility

5 08 2023

From submittable • Reposted: August 5, 2023

A new economic reality has arrived. It came how they often do-gradually, then all at once. Leaders who’d gone all in on rapid growth are downshifting to focus on short-term viability.

All the sudden, quarterly financial goals loom larger. Long-term projects slide to the back burner.

Unfortunately, this atmosphere puts corporate social responsibility programs (CSR) at risk. But abandoning CSR when the market gets volatile is like tossing your compass overboard when a storm blows in.

The truth is: markets might be changing, but expectations are not. All the reasons a CSR program made good business sense last year are even more valid now. Both consumers and employees have high expectations when it comes to social impact, with more than 70% of consumers interested in how brands are addressing social and environmental issues and 60% of employees choosing where they work based on their values. And they are all watching to see how brands respond to the current market.

Plus as the recent report from Deloitte highlights, environmental and ethics regulations continue to add pressure.

If anything, this is not the time to abandon your CSR mission. It’s time to double down. Because you don’t change course when the seas get rough. You get more strategic. Here’s how.

Respond to reality, not headlines

It’s true that the market is shifting for many high-growth, high-profile companies, but the headlines don’t tell the whole story. There are a whole lot of businesses still quietly growing and innovating-they’re just not on the front page right now.

As with much public storytelling, the loudest voices are the ones that make sweeping, dramatic proclamations about where things are headed. Look at the recent conversations around quiet quitting and the shift to remote work. For a while, everywhere you looked, someone was making a new exaggerated claim about the future of work. Reality tends to be more nuanced than headlines would suggest.

Right now, the sky may be cloudy, but it’s not falling.

It’s also important to understand the long arc of social progress. Equity, diversity, justice, and sustainability are not achievable as quarterly goals. They take a sustained, coordinated effort. Candidly, if our commitment to making meaningful change wavers every time the market dips, we don’t stand much of a chance.

Strengthen the ties between CSR and business objectives

In the same way that a volatile market can expose the cracks in a business strategy, these fluctuations also provide a stress test for your CSR strategy.

If company leaders have been treating CSR programs like pet projects, that has to change now. Corporate purpose is an essential business initiative. It needs to be planned and resourced as such.

To be effective, CSR programs need to be strategically integrated with other business initiatives. If you haven’t already, now is the time to tie your CSR mission clearly to business goals.

For example, Splunk, a data company, focuses a good portion of their CSR work on bridging the data divide-the gap between those who have access to the internet, computers, and technical skills, and those who don’t. The mission is a natural extension of their business strategy and it leverages their greatest strengths as an organization.

As part of the Impact Studio Conference, Patricia Toothman, the social impact manager at Splunk, talked about linking the pillars that support business and social impact work: “Connecting all of those pillars and really working towards our overall mission of bridging the data divide, that’s our new BHAG-our Big, Hairy, Audacious Goal. And that’s our North Star as we’re evolving, iterating, and creating new programs.”

As you advocate for your programs, be sure to connect them to your own North Star. And make an effort to explicitly tie your work to broader company objectives such as:

Employee satisfaction
Brand loyalty
Retention
Professional development
Customer engagement
Strategic partnerships
Revenue

Measure the full value of your CSR programs

In times like this, it’s easy to get locked in on the black/red dichotomy of money in/money out. When it comes to measuring the true value of your social impact programs, don’t get stuck here.

Look at the full range of outcomes that your program contributes to. Alongside the internal outcomes around company culture and employee engagement, the impact of your programs extends into the community. In 2021, corporate giving accounted for over $21 billion of support for charitable causes.

In the past, the effect on communities was considered more a feel-good aspect of CSR. But recent events have reminded all of us how interconnected community and business are. Larry Fink’s letter is proof that the most successful corporate leaders are the ones who understand the full ecosystem that their business exists within. In reality, when the community thrives, businesses do too.

CSR and ESG initiatives also help your business future proof. Rather than reacting to new social and environmental regulations as they happen, you’ll be proactively planning for them. In the long run, a gradual, intentional approach to these changes is good for everyone. Even investors are prioritizing ESG compliance.

Kari Niedfeldt-Thomas, managing director of corporate insights & engagement for CECP, explains how CSR can help you future proof this way: “Companies for generations were focused around what shareholders wanted. And shareholders sometimes were only concerned about the short term. They wanted to be able in the short term see a company increase their profits to a point, see the stock go up so they could sell. They weren’t there for a long-term model. Yes, maybe the company is meeting all minimum regulatory standards, but they’re not necessarily looking at a net-zero future of where the market is potentially headed and where they have to be prepared to operate as a business when the rules might change.”

When company leaders cut CSR programs, they are sometimes focused on the operational costs they’ll save. But you have to take into consideration the costs and the damage to the brand and the community. Revealing your company to be a fair weather ally is a particularly bad look. Plus, if market forces are impacting your business, odds are nonprofits and community members are feeling the squeeze too. Pulling back support now will be extremely destabilizing.

Setting up the infrastructure and partnerships to support your CSR work and then dismantling them can be like taking one step forward, then two steps back.

Find opportunities to innovate

It’s true that the current economic pressure might force you to shift how you provide support to community organizations. It’s time to think outside the box. If you don’t have the resources to fund the same level of grants or donations you’ve done in the past, consider other avenues of giving such as:

Employee giving & matching: Set up a fundraising campaign to encourage employees to donate.
Volunteering: Organize volunteer events to give nonprofits additional capacity.
In-kind donations: Donate your products or services directly to a nonprofit.
Marketing & advocacy: Use your platform to spread the word about an organization and its cause.

As much as this moment tests your commitment to social impact, it will also reveal a lot about your relationships with your nonprofit partners. Do you know what they need? Or do you at least know how to ask what they need?

If you’ve just been writing checks, now is the time to pivot and start building a deeper relationship. Think of the organizations you work with as true partners. Invest time in seeking their feedback and learning how you can better support their work.

This moment also calls for efficiency. Teams will be doing more with less. Case and point: many DEI teams are being cut, but if you look closely, many companies are not backing off their DEI goals. Do everything you can to streamline and centralize your CSR processes to put your team in the best position to deliver results.

Come out stronger on the other side

Like many moments of adversity, this is a chance for your team to weather the storm and come out stronger and wiser on the other side.

As belts tighten and business leaders get even more obsessive about ROI, there’s intense pressure for CSR professionals to make programs as compelling as possible. Now is the time to shore up your strategy.

The big upside of this pressure? Leveraged in the right way, this intensity can shape your social impact programs to be more effective, more efficient, and more ingrained with your business.

For those in the business of social impact, there may be a storm to weather, but the future is bright.

To see the original post, follow this link: https://www.accesswire.com/viewarticle.aspx?id=772347&lang=en

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, Deloitte, ESG, Impact Studio Conference, sustainability, sustainable branding
Categories : corporate social responsibility, DEI, ESG, green marketing

The Problem with Hiding from ‘Anti-Woke’ Crusaders

5 08 2023

Image: Thirdman

Anti-ESG agitators are telling a story that’s both inaccurate and bad for business. And silence won’t deter further attacks — though it certainly could compromise long-term brand value. By Sandra Stewart from Sustainable Brands • Reposted: August 5, 2023

It might be tempting for purpose-driven companies to think of the “woke capitalism” smearas just a warmed-over meme — a bit of foam-flecked trolling sure to dissipate as soon as the cloud of performative outrage clears.

But that’s a dangerous dismissal. Right-wing agitation against corporate commitments to improve environmental, social and governance performance already has had a negative effect. The SEC’s long-anticipated rule on disclosing greenhouse gas emissions may be watered down following Republican complaints about “woke capitalism.” And it’s not just bureaucrats who are backing away: BlackRock CEO Larry Fink, not long ago a vocal proponent of stakeholder capitalism, is in full-fledged retreat.

Many corporations seem inclined to follow Fink’s “Don’t say ESG” strategy. Fortune reported that at a recent gathering of 40 ESG executives, most said they are abandoning the term but “doubling down” on ESG-related initiatives. But it’s hard to see how this can work. Anti-ESGers are not just coming for the words; they’re coming for the substance. And that’s a brand threat companies can’t just wait out.

The anti-woke crowd is advocating ‘backward capitalism’

The impulse to duck and cover is understandable — no one wants to present themselves for a pitchforking. But agitators are telling a story that’s both inaccurate and bad for business; and it’s time to talk about the dark, retrograde vision implicit in their critique.

Take the anti-woke crusaders’ rhetoric and proscriptions to their logical conclusion and you get a business and finance world clinging to the past, sleeping through the present, and insensible to the future. Call it “backward capitalism.” This is an economy in which fossil fuels rule (Backward capitalists are keen to shore up investment in oil, gas and firearms with anti-ESG state laws — even if they cost taxpayers and retirees hundreds of millions of dollars) — with polices that accelerate climate disaster, poison the air and water, and destroy vital ecosystems; where workers are poorly paid and unprotected (child labor already is making a comeback), and crony-ridden governance structures enable and obscure it all.

The anti-woke contingent isn’t just targeting what they perceive to be a few excesses. They dismiss the mainstream view of ESG assessment as a smart risk-mitigation strategy and flat-out reject the idea that businesses should consider anything but short-term profit. They claim that “woke” corporations are imposing environmental and social initiatives on a society that doesn’t want them. But this is the opposite of the truth: “People say business should do more, not less, to address issues like climate change, economic inequality and workforce reskilling,” the 2023 Edelman Trust Barometer found — echoing years of similar results. Shareholders have driven adoption of ESG reporting, more intentional investments and governance improvements; while employees and customers have spurred action on social and environmental issues.

Stand up for ESG, corporate responsibility and stakeholder capitalism

Ignoring sound business strategy and clear, consistent demands from core stakeholders isn’t typically a pathway to long-term success. And silence won’t deter further attacks — though it certainly could compromise long-term brand value. The rising ranks of workers, entrepreneurs and investors are not going to follow the backward capitalists into the 19th century; they’ll reward brands that can credibly point to a promising future. The best strategy in this contentious moment is not to hide ESG commitments, or even to defend them — but to actively make a positive case for them.

Corporations whose ESG assessments serve primarily to reveal risks and identify potential mitigations should say so, in every context where they mention ESG actions. Those that have made positive social and environmental performance a core aspect of their brand should promote the measurable impact of significant initiatives and make public commitments to continuous improvement. And the activist businesses that have led the B Corp movementand other efforts to use business a force for good should make an affirmative case for fully embracing stakeholder capitalism.

Broadly implemented, a stakeholder approach can produce declining environmental impacts; activate efforts to mitigate climate change and regenerate ecosystems; solidify living wages and hiring practices that draw from and support the whole talent pool; and foster governance that prioritizes transparency, accountability and net-positive impact. That’s a vision for a world most of us want to live in — so, we must stand up for it.

To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/problem-hiding-anti-woke-crusaders

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Tags: accountability, Anti-ESG, corporate social reponsibility, corporate social responsibility, CSR, ESG, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : corporate social responsibility, DEI, ESG, reputation management, responsible brands

Powerful Ways Everyday People Can Counter ‘Anti-ESG’ Campaigns That Target Sustainable Investing

4 08 2023

An estimated 7.6 million young people have taken part in Fridays for Future protests in support of climate action, like this 2019 demonstration in Zürich, Switzerland. But protesting isn’t the only way for people to make their voices heard. Photo: Tom Seger – Upsplash

By Mary Mazzoni from Triple Pundit • Reposted: August 4, 2023

The anti-ESG movement, led primarily by a small set of right-wing politicians and pundits, continues to target the use of environmental, social and governance factors in investing. The pushback against ESG and “woke capitalism” is set to be central in the next U.S. presidential election cycle, with critics ramping up the discourse in advance.

Still, the public appears uninspired by the far-right’s latest bogeyman, with only about 35 percent of U.S. voters viewing “woke ideologies as a ‘major threat’ or a ‘very important’ issue when thinking about their 2024 vote,” according to July polling from Morning Consult.

Those growing tired of the anti-ESG discourse don’t have to resign to simply tuning it out. We spoke with Andrew Behar, CEO of As You Sow, a nonprofit foundation that promotes shareholder advocacy, about powerful ways everyday people can voice what they really think about ESG and the shift toward more sustainable and socially responsible ways of doing business.

Take action: Counter anti-ESG narratives by learning and sharing

The much ado about anti-ESG may not have the effect critics intended. While the majority of the public remains ambivalent, anti-ESG criticism has also sparked new conversations where there were none before. “The good news is there are tens of millions of people who’d never heard of ESG who now have heard of it. They’d never heard of sustainable investing — they didn’t know you could invest sustainably,” Behar said. “Now they’re aware their investing has an impact. And actually a lot more people are coming to ESG investing because of it. I think it’s really backfiring.”

Still, anti-ESG narratives can create confusion about what ESG criteria are actually meant to do. Last year, As You Sow launched the AmplifyESG content library to counter the misinformation about ESG online. It’s curated by an editorial review board that includes representatives from business and both U.S. political parties, Behar said.

Hosted on Hootsuite, the library is updated at least a few times a week with articles, quotes, videos and other resources about ESG, which users can easily share across their social media platforms as they choose. Shares from AmplifyESG have reached nearly 3 million people over the past year, and anyone can get involved in driving more evidence-based conversations about ESG in business.

Take action: Leverage your right to vote

No, we don’t mean at the ballot box. Of course that’s important, too, but in this case we’re talking about the proxy voting rights afforded to everyone who owns shares in a publicly-traded company. “If you’re an individual who has bought shares on E-Trade or Schwab or Robinhood or whatever, you have the right to vote — even if you own just one share,” Behar said. “And that vote is very, very important.”

An estimated 25 percent of all shareholders do not exercise their proxy votes, he explained. “If those 25 percent decided to get off the bleachers and get on the playing field, that makes a big difference. That makes the difference between a majority vote or one that’s just under the majority line.”

But exercising the right to vote by proxy is traditionally not a user-friendly process for individual shareholders. “It’s always been difficult,” Behar said. “Generally you get an email that says, ‘Time to vote.’ But when you look at the ballot, there’s 20 or 30 decisions to make. Who’s on the board? How much do the executives get paid? Who’s the auditor? What about all these shareholder resolutions? It’s very complex.”

As You Sow has published annual proxy guidelines for decades, outlining votes they deem to be aligned with ESG principles. Three years ago, it automated the process by embedding its guidelines into Broadridge Financial Solutions’ ProxyEdge platform for institutional investors. The paid service allows institutions like asset managers, endowments and foundations to vote in an ESG-aligned way in only a few clicks. They can also customize their votes from As You Sow’s defaults as they choose.

This year, As You Sow went a step further with a free service for individual investors at AsYouVote.org. “You can now redirect that email so we will automatically fill in the ballot,” Behar said. “It’ll all be filled out in an ESG-aligned way, and you can make adjustments.”

This simple shift allows individual shareholders to move from being overwhelmed by proxy voting emails to automating the process of voting with their values, with the option to customize if they’d like. “I think a lot of people feel guilty. They see all these proxy statements piling up in their inbox and they think, ‘I just can’t deal with it.’ What you’ll get instead is, ‘Thanks for voting.’ You’ll feel great about yourself, and it takes literally two minutes to set up.”

Take action: How mutual fund and 401(k) investors can make their voices heard

Traditionally, people who invest in funds rather than individual stocks have a much harder time making their voices heard come proxy season, but this is beginning to change thanks to new technology.

“If you own shares in a mutual fund, you have the right to vote. Right now, you have abdicated that right to Vanguard or BlackRock or State Street or whoever, and they’re voting on your behalf. They’re probably not voting the way you like,” Behar said. “You might want to vote for a livable planet. You can demand that. You can say, ‘I want that vote,’ and they will give it to you. It’s very new. The technology is just unfolding.”

Technology advancements mean that individual mutual fund investors can vote their own proxies, with the fund manager voting in alignment with the aggregated results at a company’s annual shareholders meeting. This is known as pass-through voting.

In April, As You Sow linked up with the cloud management company Iconik to make this option available to investors in an S&P 500 mutual fund. Hundreds of investors have already taken advantage of it, Behar said, with more funds on the horizon. “We’re now in conversations with every other proxy voting service,” he said. Broadridge Financial Solutions, a major tech provider for institutional investors, is among those working with fund managers to make this option available to their customers. Get in touch with your fund manager to see what options you have.

Similarly, those who invest in 401(k) plans through their employers also have the right to vote by proxy, but they need to reclaim it from the fund managers associated with their plans. “If you’re in a 401(k) plan — where you probably own a target date fund, which is a fund of funds — you’re going to need to go to your plan administrator and say, ‘I want to vote.'”

If employees band together to ask for their vote, the employer can decide to work with the fund manager to make the option available. As You Sow is in talks with employee-organized groups at companies including Google and Microsoft, who want to leverage the voting power associated with their 401(k)s.

The bottom line: You have more power than you think

Counter to the anti-ESG narrative, most people want to see business operate sustainably, with 99 percent of millennial investors, 82 percent of women and 72 percent of people overall saying they would choose to vote their proxies with sustainability in mind, according to polling from As You Sow.

Where market forces are already driving business closer to ESG principles, everyday people realizing and claiming the power they hold could open the floodgates.

“People abdicate their power. The way people give away their private personal information to Facebook, they abdicate the power of their money to Vanguard, State Street and BlackRock. It’s amazing. People give away all their power and all their information for nothing,” Behar said. “We have a culture where people look at things like climate change and think, ‘There’s nothing I can do.’ No. You have so much power. You just choose not to use it.”

To see the original post, follow tis link: https://www.triplepundit.com/story/2023/counter-anti-esg-campaigns/780366

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, DEI, ESG, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, lack of trust, social responsibility, sustainable branding, sustainable brands

Three Ways Eco-Conscious Brands Can Transform Sustainability Into An Advantage

4 08 2023

Image: Getty

By Sai Koppala, Forbes Councils Member from the Forbes Communications Council • Reposted: August 4, 2023

Patagonia founder Yvon Chouinard captured headlines and received accolades last year when he announced that the outdoor retailer would begin donating nearly the entirety of its profits to fighting climate change. In that same vein, an October 2022 IBM study found that 73% of respondents considered sustainability when shopping.

Both of these speak to broader trends in the way consumers are viewing corporate responsibility, particularly when it comes to environmental concerns.

How can companies respond to shifting consumer values to get ahead of both competitors and economic headwinds? Based on the 3 P’s of sustainable businesses(planet, people and profit), brands need to demonstrate transparency around ongoing sustainability efforts, engage customers in genuine conversations about what matters to them and craft engagement-based loyalty programs that recognize and reward shared social values. Here are three ways brands can accomplish this.

Communicate Tangible Impact On The Planet

Consumers don’t just want to hear “sustainability” as a buzzword. They want to see the concrete actions companies are taking to achieve it.

Brands like Cotopaxi provide a template to follow. Rather than hiding behind the vague “greenwashing” language media-savvy consumers know all too well, the company provides transparency into its sourcing partners and factories globally as well as the sustainability efforts at these factories and carbon offsetting for bulk shipping.

Brands still in the midst of their own sustainable transformation can also highlight the actions they’re taking to achieve the environmental objectives consumers value. Athletic wear brand Allbirds, for example, notes on its website the sustainability goals the company aims to meet by 2025, how Allbirds falls short of them now and the steps the brand is taking to meet them by its own self-imposed deadline.

Much like many companies themselves, consumers are going through their own green transformations and understand that such efforts take time. Rather than penalizing brands with less-than-ideal carbon footprints, consumers will likely reward transparent companies making an earnest effort to attain sustainability—even if they’re not there just yet.

Engage Customers In Sustainability Conversations

Rather than waiting for consumers to come to them, brands should attract the sustainably minded with content that speaks to their needs and goals.

Proactive sustainability brands can create informative and entertaining content that educates and engages consumers by leveraging the full power of their digital marketing channels. Patagonia uses an interactive webpage to illustrate the negative impact the clothing industry has on the environment and showcase the actions it’s taking to remedy it—including recycling materials, growing its own organic cotton and selling used gear at a discount to keep it out of landfills. As a result, consumers gain a clear understanding of how the company aligns with their values and what Patagonia is doing to achieve its sustainability goals.

Brands that engage their customers in conversations about sustainability are able to clarify the ecological topics consumers care about while also proactively guiding them toward products that align with their values. By taking an active role in their sustainability education, companies can establish trust with consumers and reinforce their own sustainable value proposition as they work to change old purchasing habits for good.

Reward Customers For Shared Values

As consumers set their sights on companies and products that share their environmental values, brands that reward them for their sustainable purchases have the chance to attract—and retain—both new and old customers.

One of our customers, Back Market, has developed a business model that not only drives sustainability and circular economy but also drives profits with the Gen Z audience that cares about reuse.

With the constant emergence of new technologies and the consumer desire to always have the latest and greatest device comes many gadgets that end up in a landfill. Back Market was created to help reduce all this e-waste. Sellers can quickly and easily get rid of the “old” gadgets they don’t want anymore, and buyers can grab gently used, high-quality gadgets for a great price.

Loyalty programs tied to sustainable purchases encourage consumers to make the shift toward eco-friendly products and provide an incentive to keep doing so in the future. Customers also develop a greater sense of commitment to the brand, which they see as a reliable vehicle for attaining their own sustainability goals. By rewarding customers for making purchases that align with their shared values today, companies become trusted partners they’ll turn to when making more in the future.

Through marketing efforts that reflect consumers’ identities and reward them for acting on their values, brands can form meaningful bonds with customers and turn them into lifelong patrons. As consumers continue to positively interact with the brand, they encourage others in their network to do so as well and foster new customer relationships—creating a virtuous cycle.

Through targeted rewards programs, brands can ensure the health of not only their bottom line but the planet as well.

To see the original post, follow this link: https://www.forbes.com/sites/forbescommunicationscouncil/2023/08/03/three-ways-eco-conscious-brands-can-transform-sustainability-into-an-advantage/?sh=5e5903185e0c

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, social responsibility, sustainability, sustainable branding, sustainable brands

How To Make E-Commerce Sustainability Commercially Viable

2 08 2023

Photo: Getty

By Zohar Gilad, Forbes Councils Member, Forbes Technology Council via Forbes • Reposted: August 2, 2023

According to Forrester, most U.S. consumers place the responsibility of protecting the environment on companies. Two-thirds want more transparency on business practices. And study after study shows that consumers want to be more environmentally responsiblein their buying habits.

Why, then do most e-commerce sustainability efforts fail to put a dent in the problem?

Decades of rapid e-commerce growth have taught us that consumers want to consume, and merchants are more than happy to feed them goods for revenue and profit. There’s a lot of lip service around sustainability, but at the end of the day, the desire to get more things faster often overcomes many of the best sustainability intentions of both shoppers and merchants.

Why? Because e-commerce sustainability is impossible unless it is commercially viable.

For sustainability to work, it must be good for the business, desired by the consumer and good for the planet. Here are some practical—and commercially viable—ways for e-commerce brands to improve their environmental footprint.

Start with packaging.

More than 40% of consumers get one to two packages a week—just from Amazon. Today, businesses can choose from many sustainable packaging alternatives to reduce weight, make customers feel good and create an immediate environmental impact.

That said, research shows that most consumers are misinformed about what is actually recyclable and misunderstand recycling practices. Merchants need to educate consumers on how to recycle or compost packaging to make sure it happens. There’s also an opportunity to promote programs and practices with branding and clever marketing on the packaging itself.

Improve data analytics to stop overproducing.

According to the United Nations, the fashion industry alone accounts for 2% to 8% of global carbon emissions, and textile dyeing is the second largest polluter of water. Tastes and desires are fickle, and so much of what is produced (clothing, food, etc.) is ultimately wasted or sold for pennies on the dollar. Industries like fashion have long over-produced in efforts to have “everything they might need” to meet this fickle demand.

The fashion industry is just one example of how quick it is to manufacture goods but how hard it is to understand and meet demand. With more advanced AI, analytics and personalization technologies, however, it’s possible to better understand consumption. Accurate demand forecasting is one of the best things you can do to improve every aspect of your business (scale, cost, lower returns, etc.) and reduce environmental waste.

Ensure the price is right.

For years, data has shown that consumers are “willing” to pay more for sustainable products. But dig a little deeper, and you’ll see just how powerful decades-old commercial forces can be in hindering sustainability.

With the arrival of the recession, the number of consumers willing to pay more for sustainable products shrunk by 16%. Quality and price still lead consumers’ considerationswhen making purchasing decisions in good times and bad. Both are twice as influential as sustainability in making purchases. The price has to be right for the quality of the goods provided, regardless of operational practices.

Elevate the product with sustainability.

If price and quality are more than twice as influential as sustainability in buying decisions, then use your sustainability practices to elevate the quality of your goods and the brand behind them.

Outstanding goods capture a premium price, attract new shoppers and build brand loyalty. Patagonia is a great example here. It’s a “gold standard” in outdoor clothing and quality and also happens to be environmentally sound.

Tesla is another great example, with a premium-priced electric car that has excellent range, has better performance than the average gas vehicle and is supported by a great charging network. Remember that Tesla launched a luxury sports car, which set the tone for the brand. Consumers expect Teslas to provide a superior driving experience that they can feel good about.

Share your sustainability story.

Online searches for sustainable goods have increased by 71% between 2016 and 2021, and influencer mentions of sustainable fashion have boomed in recent years. Sustainability is now a critical ingredient of a good brand story, especially for younger buyers. Integrate this into your marketing and build it into your brand story.

But if you’re not actually doing some of the things I’ve outlined above, then you’re just greenwashing, and that storytelling goes from a strategic advantage to a liability. Buyers won’t hesitate to post your bad practices across their channels.

Create a personal and frictionless experience for shoppers.

Far too often, companies dedicate a lot of resources to sustainable practices, only to mess up the last mile. Getting traffic and buyers is the first step, but you have to make it easy for consumers to find what they’re looking for, especially with a younger, more environmentally aware audience.

I’ve written about removing friction from e-commerce in the past, and that applies to all aspects of buyer intent, including sustainability. Promote the products clearly. More importantly, incorporate sustainability with all the other data points (geography, referral site, device, time, weather, etc.) for a full, accurate and personalized journey.

So many environmental efforts come to the table with the best intentions, only to be tripped up by the realities of commercial operations. By adding a commercial lens to your sustainability endeavors, you do what’s good for the planet and what’s good for your pocket. And that’s good for everyone.

To see the original post, follow this link: https://www.forbes.com/sites/forbestechcouncil/2023/08/01/how-to-make-e-commerce-sustainability-commercially-viable/?sh=560642fbff81

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, e-commerce, ESG, Forrester, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, sustainability, sustainable branding, sustainable brands

How the Healthcare Industry Can Confront the Climate Crisis Through its Supply Chain

1 08 2023

Photo: Boston Scientific

By Kathryn Unger from Triple Pundit • Reposted: August 1, 2023

As Earth’s temperatures continue to rise, it has become evident that protecting the planet will require global cooperation and direct action across every single industry. The healthcare industry is no exception. Indeed, the connection between environmental health and human health underscores the importance of the medical community’s role in reaching net zero carbon emissions.

The healthcare sector contributes an estimated 4.5 percent of global emissions. Some of these greenhouse gases are produced from healthcare facilities; others are the result of the industry’s supply chain of goods and services. Yet when it comes to climate change, the healthcare industry must go beyond focusing on treating the health conditions resulting from environmental degradation — and increasingly, we’re seeing industry starting to shift toward helping to prevent those health conditions by addressing climate change itself.

Boston Scientific is among those medical technology companies working to reduce emissions. Our ambitious effort will involve reevaluating every aspect of business and making changes to support achieving net-zero emissions along the company’s entire value chain. This work represents a considerable challenge, and one whose time has come.

“Climate change will affect almost every human disease in some way,” says Dr. Kenneth Stein, chief medical officer. “For those of us in the healthcare industry, who are dedicated to improving health and patient outcomes, that’s a worrisome thought. But we can apply our considerable innovative skills toward becoming part of the solution.”

Fortunately, we have a couple of important factors working in our favor. They are ingredients which, I would suggest, every company needs to succeed in meeting its ESG goals: A thoughtful, realistic, and science-based sustainability plan in development, along with full-throated support for our initiative at every level of our organization.

Making the business case for sustainability in healthcare

Within the medtech sector, some sustainability changes involve tracing products back through the supply chain to reimagine the way those products are sourced, manufactured, packaged and shipped. Doing so is a significant undertaking – so much so, that if an organization doesn’t have a clear understanding that its sustainability goals are in line with a clear mission to improve health outcomes, it might shy away from the challenge.

Paudie O’Connor, senior vice president in charge of Boston Scientific global supply chain, points out that for that reason, it’s important to dispel myths that there is tension between the two goals. “There is no reason why we can’t further healthcare to help decrease the plight of human suffering, and work to improve the environment at the same time,” he told me.

In fact, Boston Scientific was the first medical device company to commit to carbon neutrality within its manufacturing network, as well as to receive approval for its net zero target by the Science Based Targets initiative (SBTi), an international organization that provides clear guidance for reducing greenhouse gas emissions in line with the latest climate science.

Already, we’ve made progress toward carbon neutrality goals by shifting our electricity sources in the U.S. and Europe to 100% renewable electricity – contributing to 76% renewable electricity across our global manufacturing and key distribution sites – putting us on track for 100% renewable electricity worldwide by 2024 in our manufacturing and key distribution sites. All are important milestones on the path to achieving the company’s net zero emissions target across the entire value chain by 2050.

However, some sustainability goals are more complicated. For instance, physicians and patients need medical products that are sterile, safe and reliable – and those standards are highly regulated. Now, teams must consider the environmental footprint of products at every life cycle stage, from design, sourcing, production and distribution to waste disposal and recycling.

“We spend a great deal of time thinking about how we can structure our supply chain to support growth and environmental sustainability,” O’Connor says. “For example, thinking of ways to reduce packaging, digitize instructions for use, target sterilization practices and use strategic modes of distribution.”

Shipping is a good example. Medical device manufacturers have long shipped products to their destinations by air as a matter of convenience and, importantly, speed, so that devices are always available for patients who require immediate intervention. “Our supply chain has a purpose statement: ‘delivering for patients,’” says O’Connor. “Getting high-quality products to patients when they need them.”

Rail and maritime transport are far more carbon-efficient than air transport, but take longer; for example, a product that takes four days to get from Costa Rica to Boston by air may take 14 days by boat and rail. Thus, in switching to moving products by land or sea to key distribution hubs, a company must carefully reexamine the timetables by which products are sent and adjust them accordingly. Mapping out such thoughtful, deliberate changes can result in meaningful carbon reduction, making the effort well worthwhile.

Tackling environmental challenges for better health

This is one of the biggest challenges that the global population has faced, let alone the healthcare industry. But by viewing environmental sustainability as a step toward improving human health, the goals of both the medical community and those of global supply chain teams can come together as one. I believe that such a holistic view is precisely the way to frame the important sustainability work ahead of the healthcare industry. Dr. Stein agrees: “To reduce healthcare disparities, we can’t ignore how environmental and climate changes will affect health, especially for society’s most vulnerable.”

There is so much more work to do to continue to advance our collective efforts to contribute to a healthier planet. Regulations are increasing and evolving. Customer expectations are evolving. Science is constantly evolving and changing the things that we can accomplish for our customers and patients. But the industry is making meaningful changes — and by holding ourselves and each other accountable, we can accelerate progress and achieve more together.

This article series is sponsored by Boston Scientific and produced by the TriplePundit editorial team. To see the original post, follow this link: https://www.triplepundit.com/story/2023/healthcare-industry-climate-change/780166

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Tags: accountability, Boston Scientific, corporate social reponsibility, corporate social responsibility, CSR, ESG, Global supply Chain, green marketing, healthcare, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : corporate social responsibility, DEI, ESG, social responsibility, sustainability, sustainable branding

3 straightforward ways to combat the anti-ESG push

31 07 2023

Image: Shutterstock

By Dylan Siegler, SVP, Sustainability via Green Buzz Weekly • Reposted: July 31, 2023

State and federal policymakers on the right were not targeting corporate sustainability programs when they began lobbing anti-ESG rhetoric and proposed laws into state and national legislatures.

But what began as a campaign against making environmental, social and governance risks and opportunities part of investment decisions predictably spread, just as high-profile battles over drag shows and critical race theory took over the news cycle. Bans against banks and financial services companies that “boycott” fossil fuels, as in Texas Government Code Chapter 809, became a pressure on companies to back away from social impact as well as environmental measures.

This spring, there were increased reports of ESG backlash from shareholders (and their partisan advisers) when they voted on investor proposals at public company annual meetings. About a third of anti-ESG shareholder proposalsfocused on pressuring companies to stand down on DEI initiatives. Climate also took a hit (although it’s important to note that the data is more complex in that area, where pro-ESG shareholder engagement is advanced). Many of these proposals failed; passing didn’t seem to be the point.

Meanwhile, anecdotal evidence indicates that more companies are “greenhushing,” or taking a quieter approach to sustainability communication. A sustainability head for a Fortune 500 red-state-based company, who spoke to me only if I didn’t identify him or his company in this newsletter, confirmed that anti-ESG rhetoric has caused his employer to communicate to the public less often and less comprehensively about sustainability efforts, and we hear similar accounts from members of our GreenBiz Executive Network, a peer learning forum for sustainability executives from large companies.

Another continuing issue potentially abetting the anti-ESG movement is that despite bold public climate goals and other commitments, many of the same companies hold back from advocating for progressive policy, and sometimes actively lobby against those interests. Specifically, some fund PACs that support political candidates who may espouse rhetoric in conflict with a company’s own ESG strategy. Even unintentional firewalls between government affairs and sustainability can cause companies to talk out of both sides of their mouths.

What to do about anti-ESG rhetoric

I asked Deborah McNamara, co-executive director of ClimateVoice, a nonprofit focused on helping climate-positive companies influence policy, what actions a sustainability professional should take to counteract the ESG backlash. In an email, she said anti-ESG rhetoric is “a new form of climate denialism” and exhorted companies with sustainability commitments to, effectively, stay the course and focus on impact. “Employees and sustainability professionals should talk about how ESG investments help them build a better and more profitable business,” she said. Companies should “remain focused on aligning all levels of business operations and advocacy with achieving meaningful climate goals, and continue to advocate forcefully and consistently for climate policy progress on all fronts.”

The Fortune 500 sustainability head who told me he sees more greenhushing gave an important and reassuring caveat: While his company may not be shouting from the rooftops about ESG, the company’s real-world actions in sustainability have not markedly changed in response to the shift in political tone.

It would be satisfying to raise a fist and advise sustainability professionals to speak out brashly against the backlash and encourage their companies to do the same in the face of political pressure. But not every company has a sustainability head with high company-wide social capital, a mature sustainability program with a proven business case or the executive support to withstand ever stronger political headwinds. Almost 70 percent of the top five earning executives in U.S. S&P 1500 firms are affiliated with the Republican party, which has made opposing ESG one of its calling cards in the current election cycle. Some professionals — and their companies — will simply need to choose between being brave and being safe.

Here are three straightforward ways you can push back against the anti-ESG campaign:

Low lift
If your company is in a greenhushing phase, use it to your advantage. When you say less, my Fortune 500 source points out, it’s more straightforward to prioritize accuracy and assess any risk that might be associated with your disclosures. Less can be more — especially if you’ve historically not seen eye to eye with your comms colleagues.

Medium lift
Get to know your government affairs department. Do they understand your motivations, and vice versa? What risks are they focused on? If you don’t have a dialogue, start one.

Heavy lift
Sign your company on to the Ceres / We Mean Business Coalition-led initiative Freedom to Invest. The campaign mobilizes business and investor interests “around a unified message to policymakers: Protect the Freedom to Invest Responsibly.”

Big ambitions? Do all three. But whatever you do, do something.

“It can either be that all of us decide, ‘I have a lot of other work to do to sell my product or service. I don’t want to stick my head up. I don’t want to [have] what Disney has [experienced] happen to me. I’ll let somebody else fight this.’ That’s one example,” said Steven Rothstein, managing director of the Sustainable Markets Accelerator at Ceres on the main stage at last month’s GreenFin 23 event.

“The other one is that we all decide to get involved. The future of this industry is up to literally the people in this room … so I hope all of us reach out to people — Democrats, Republicans — all kinds of folks. If everyone here writes a letter to the editor, or does social media or an op-ed, or signs a petition or whatever you want to do — what GreenFin in ’25 will be like will be determined by what each of us do in the coming months.”

To see the original post, follow this link: https://www.greenbiz.com/article/3-straightforward-ways-combat-anti-esg-push?utm_campaign=greenbuzz&utm_medium=email&utm_source=newsletter&mkt_tok=MjExLU5KWS0xNjUAAAGNSpV9U3bcByekasdOTttihdUL21qapnbQuTmRFrpSxlyTElE6yycHJPDJeeODHf8gt-kO5y4x5f-7la93epGDjuOfbg7uklCa2LAb4hFytVPNjQ

How to Start and Grow Your Purpose-Driven Business

31 07 2023

Photo: Getty

Tips to launch a purpose-driven business that can thrive in any economy. BY BRYAN JANECZKO, CEO, NUNBELIEVABLE via INC. • Reposted: July 31, 2023

Once the must-have shoe made of sustainable materials, Allbirds is now flapping its wings against the winds of change – its stock is down 96% since its initial IPO. And though fashion is historically fleeting, tech giant Salesforce, which pioneered giving 1% of their time, product, and equity to charitable causes, has seen thousands of layoffs in just a few months. It’s now pledging to be “lean and mean” in efforts to hit 30% profit margins. Though their giving model currently remains, employees have been warned to not let “culture” get in the way of their leaner marching orders.

These stories may tempt you to jump to the conclusion that today’s world is more jaded and less concerned about for-purpose missions, especially with talks of recession in the air. However, I would argue the opposite is true.

Launching a business when so much economic uncertainty looms may feel particularly risky. Launching a purpose-driven business probably feels even riskier – some might say downright inadvisable. Their skepticism is not entirely unwarranted. It’s hard to feel like the for-purpose model is thriving when its former giants are falling.

Consumers today are seeking more meaningful, genuine approaches to mission-driven business than ever before. 72% of US consumers want to buy from companies that reflect their values and 71% of millennials will pay more for brands they believe in. Even with inflation at 40-year highs, 57% of Americans reported they purchased goods from socially responsible brands in 2022. Moreover, talent today wants to work for brands that align with their values. Over half of employees in the US won’t consider jobs that aren’t in line with their values.

So now is actually the perfect time to launch a purpose-driven brand. In my experience, mission-driven businesses attract talent, open doors to unexpected opportunities and connections, and provide a north star for both employees and consumers to get behind.

Here’s how to launch a for-purpose brand that doesn’t just survive, but thrives.

Don’t create a product, create a community

For-purpose brands take a stand for something. Whether it be sustainably sourced materials, fair wages, donated proceeds, donated time, or any number of mission-driven initiatives, there are added costs associated with working towards social good that tend to increase product prices. That can be intimidating, but the first thing to know about a for-purpose brand is that it thrives within a community, and that community is its greatest asset.

I think Bombas is an incredible example of the power of community for for-purpose brands. At its inception, Bombas sold expensive socks. Nice socks, but expensive. From a strictly business perspective, it’s easy to dismiss. But of course, the power of Bombas was in their mission: for every pair bought, a pair would be donated to someone experiencing homelessness. This type of model obviously adds costs to the business, but after just three years they were profitable.

That was because of the power of their community. The right talent got on board because they believed in a larger vision. They then physically took that mission to the streets: hand delivering goods to shelters and transitional housing across New York City. Building those kinds of relationships brings more people in because they see the authenticity behind the brand. The DNA of the brand itself increases the sales pipeline of customers who want to put their money behind the purpose. In fact, 82% of today’s consumers agree that how a brand treats customers, employees and the community is important to their purchasing decision.

As an emerging for-purpose brand, engage with your community in a way that aligns with your mission. Volunteer with a local organization, organize a food drive, highlight your customers on social media, and get creative with it!

The mission is also going to open doors to opportunities that might not be there otherwise. For example, in my experience, a large retailer like Walmart or Kroger is more willing to take a meeting with a for-purpose brand, than just another CPG company with something to sell.

Find your path to enduring success through simplicity

Whether for-purpose or not, every business has to hit profitability, ideally sooner than later. This is particularly relevant today with funding dollars significantly less availablethan they were two years ago. Gaining traction and growing support within your immediate community is a proof point that investors will consider, but you’ve got to keep that momentum going.

In pursuit of that movement, a lot of new entrepreneurs make the mistake of rapidly expanding into new product lines or tackling new initiatives to further their for-purpose mission. In reality, when working towards that path to profitability, simplicity can be your secret weapon. There are three areas to simplify in order to maximize margins and growth: your mission, your packaging, and your business model.

Simplifying your mission doesn’t mean shrinking, it just means getting really clear on what your north star looks like. A great example is Beyond Good chocolate products. There are many brands putting out chocolate bars with environmental missions, and rightly so. Beyond Good focused its role within that niche by working directly with local farmers and producing their chocolate in Madagascar- and paying a living wage. In a crowded space like the chocolate aisle in Whole Foods, having a unique, clear mission can be the difference between a sale and being left on the shelf.

The same can be said for your packaging. In the case of CPG products, you’ve got to catch the consumer’s eye and communicate your mission clearly. RX Bar is doing this well. Without prior knowledge of the brand, you can take one look at its packaging and know exactly what you’re getting, which is a mission statement in itself. Their mission to make wellness an easier choice is represented in those easy-to-see and read ingredients.

Lastly, simplify your business by right-sizing your model to increase margins. Justin’s is a great case study on doing this well. Before the pandemic, they sold 40 different nut-based products, but the supply chain crisis meant changes were necessary, so they reduced their product SKUs to focus on what was really selling. Evaluating your SKU mix to optimize profitable SKUs and eliminate those that are not or don’t contribute to the bottom line is crucial to making sure you can keep your business successful while continuing to work towards your mission for good.

Harness the power of PR to amplify your voice

We’ve already talked about how the power of for-purpose brands lies in their ability to build and actively engage with their communities. The flip side of that is the way today’s consumers can mobilize to turn against brands they see as behaving irresponsibly. Nearly a third of Americans reported boycotting brands last year for this reason.

The current economic climate has consumers making tough choices regarding how they spend their money, but even with 46% saying the cost of for-purpose brands prevented them from buying their products, 70% said a company’s purpose or mission was an important determinant for support.

Public relations is a great tool to share the stories that make your product and larger mission unique. Even though budgets are often tight for emerging businesses, it’s a worthwhile investment to consider working with a PR professional or agency that can help you propagate your stories to a larger audience through the media.

This is a much longer-term strategy than something like optimizing SKUs, but the payoff can be tremendous. Just look at a company like Airbnb. They’ve recently reported their most profitable fourth quarter ever and a profitable first quarter for the first time ever. Their CEO credits PR as their “most important channel” for success.

Though starting a for-purpose venture right now may seem risky, I think it’s the ideal time to launch a business. When things get tough, which they always do, you have a larger mission to remind you – and your community – why you started this journey to begin with. The movement has gained so much momentum over the years and it’s only going to continue to grow.

To see the original post, follow this link: https://www.inc.com/magazine/202304/ben-sherry/how-a-federal-fraud-investigation-inspired-this-cpa-to-launch-his-own-company.html

What Are You Waiting For? Help Your Company Hold The Line For ESG

31 07 2023

Writing an ESG report, concept, goals, trends and company achievements Photo: GETTY

By Kathy Miller Perkins via Forbes • Reposted: July 31, 2023

In today’s world, sustainability has become a pressing global issue, and organizations increasingly recognize the importance of incorporating sustainable practices into their operations. Corporate leaders are playing tug-of-warwith anti-ESG (environmental, social, and governance) warriors.

In the face of the ESG backlash, companies’ reactions vary. Some are going quiet about their initiatives and accomplishments. The Washington Post refers to this behavior as “greenhushing”.

However, others are doubling down on their commitments to sustainability. For example, hundreds of companies released a letter last spring claiming their commitments to ESG positively impacted governance and asking policymakers to respect their freedom to make responsible investments.

Most of the press covering how companies are pushing back on the anti-ESG forces focus on senior leaders. However, all employees, no matter where they sit in the organization, can play a significant role in this fight.

If you care about sustainability, you can act within your company regardless of your title or position. You can take steps to support ESG and develop a strategy for influencing and supporting the senior leaders in taking a stand.

Here are some ways to fight against the anti- ESG pressures.

Educate yourself about the organization’s ESG goals and initiatives. Stay on top of the anti-ESG messaging and look for ways to refute it with evidence and data.

Staying informed about sustainability efforts allows you to communicate effectively and address concerns raised by anti-ESG individuals.

Participate in ESG training sessions and educational programs organized by the company. Understanding the value of sustainability and its long-term benefits can help you become a more effective ESG advocate.

To influence higher-level managers to keep their commitments, gather compelling evidence on the benefits of sustainability initiatives.

Include data on cost savings, risk mitigation, enhanced brand reputation, and customer loyalty. Include how organizational sustainability contributes to a culture of engaged employees. and point out the benefits of this culture to the success of the company.

Using information strategically, you can demonstrate the tangible advantages of embracing sustainability and counteract the attacks on ESG.

Organize Advocacy for ESG

Encourage and lead open discussions about ESG initiatives and their importance within the organization. Engage with colleagues and management to promote more active support for sustainability and dispel misconceptions associated with ESG.

Leadership development specialist and coach Dr. Andre Taylor says a key to effectively advancing sustainability is to form advocacy coalitions. He suggests CEOs are more receptive to ideas and initiatives supported by a cross-section of leaders throughout the organization.

Form coalitions for collective advocacy dedicated to sustainability. A cross-functional approach allows diverse perspectives and strengthens your clout.

Identify influential allies who can provide guidance and support and act as champions for sustainability efforts. Collaborating with them can amplify the message and create a shared sense of purpose across the company.

As these partnerships and coalitions grow, sustainability will become more deeply embedded into the culture. And robust and supportive cultures make stepping away from sustainability commitments more difficult.

Communicate Positively

Use constructive communication to appeal to both heads and hearts. Tell stories of how the company’s ESG efforts support the wellbeing of stakeholders.

Through examples, you can shift the perception of sustainability from a standalone effort to a strategic imperative.

Highlight how sustainable practices align with the business’s core values and contribute to long-term profitability.

Include appeals to emotions. Sure, data can be important for swaying the opinions and actions of others. However, when you also appeal to their feelings, you are more likely to persuade them.

Crafting compelling stories that educate, showcase, and highlight how sustainable and unsustainable practices impact people can evoke emotions and inspire action.

Remember You Are a Key Stakeholder

As an employee of the company, you are among the most critical stakeholder groups. You must speak up!

Share with your colleagues and managers how you feel about the importance of the company’s sustainability pledges.

Speak passionately about how these commitments impact your engagement with the company and your loyalty to it. Talk about how you would feel if the company gave in to the anti-ESG forces.

In the battle against anti-ESG sentiment, every individual’s contribution holds significance, regardless of seniority level.

You must not remain passive and leave the responsibility for the fight solely to others. Embrace your role in the struggle for sustainability and ESG, as your efforts can substantially impact your organization, its leadership, and the world.

Recognize that the stakes are significant, and you can contribute to positive change. You can and must contribute to a more sustainable and responsible future for all by actively engaging and collaborating.

To see the original post, follow this link: https://www.forbes.com/sites/kathymillerperkins/2023/07/30/what-are-you-waiting-for-help-your-company-hold-the-line-for-esg/?sh=4ff7fa73788a

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Tags: corporate social reponsibility, corporate social responsibility, DEI, ESG, sustainability, sustainable branding
Categories : corporate social responsibility, DEI, ESG, responsible brands, social responsibility

Why Corporate Social Responsibility is critical for Companies

29 07 2023

Companies have to legally comply to investments in CSR initiatives, based on annual profits. The management is accountable for this compliance and it includes all the stakeholders in the process. By Bineesh Mathew via Enterprisetalk.com • Reposted: July 29, 2023

Corporate social responsibility is an ongoing process. Companies need to be ethical about ensuring they comply to this regulation.

CSR is very important for enterprise today. It includes initiatives such as supporting diversity, inclusivity, underprivileged empowerment and rights, protection of the environment, energy initiatives and poverty eradication.

Through the corporate social responsibility, companies can contribute to:

Economic growth of the country
Enhancing the well-being of employees and their families
Development of local communities and society as a whole

Through the practices of ethical values, CSR aims to share prosperity with the society that enables their profits. CSR activities can support individuals, societies, and the environment. This may include different policies, educational efforts, and charitable activities. With these, companies can help develop or sustain communities in which they operate.

CSR is about the dedication of businesses to maintain ethical commitment to the society they work in. As CSR activities need collaboration with various stakeholders, it brings economic growth to society. It also enhances the well-being of all the stakeholders. Clearly both businesses and the communities benefit from it.

Companies are giving attention to local, national, and global CSR opportunities, today. With commitments to socially beneficial activities, they can showcase a good brand image. This will help to attract clients and shareholders. Thus, it impacts the financial performance of the companies as well.

Need for Corporate Social Responsibility

Firms need to have a more extensive customer base to recruit the best resources, and also boost profits. For this, they need an excellent public image. The best way to show commitment to social causes is by investing into a CSR commitment. This can transform the public perception of the company.

Long-Term Business Interest

CSR serve the interests of both the society and the company. A developed society will create a better atmosphere for businesses. So strong CSR enables businesses to achieve long-term business growth and profits as well.

On the other hand, an open-minded and socially responsible company will show concern for the society’s needs. So, investment into developing a better community, indirectly also helps businesses grow. Investing in social welfare programs can be a strategy to accomplish this goal.

Avoiding Government Intervention

Regulations and controls from the government bring financial and other risks for businesses. To avoid some of these interventions, companies can invest in CSR activities. This will keep them safe to an extent and also allow the leaders to take decisions favorable for the business.

If the government finds negligence in social investment, it will impose penalties and regulatory clauses on a company. To avoid these, companies need to identify projects that show the change they want to make to the society. They can select a CSR initiative that is suitable for their area. With this small investment, they can also save themselves from government intervention.

Benefits of CSR

Productivity and Quality

Since CSR is about giving back to the society, it usually encourages employee participation. employees can feel the commitment to the project and be a part of the decision-making process. Thus, it increases productivity and reduces the challenges that leaders face in running a company

Improved Financial Performance

Socially responsible businesses can improve their financial outcomes. This improvement can happen due to many factors. They can include:

Stable socio-political legal environment
An enhanced competitive advantage resulting
Superior corporate reputation and brand image
Better recruitment
Retention and motivation of employees, and
A more secure operational environment
Brand Image and Reputation

A socially responsible company can strengthen its brand reputation in the industry. It will also enhance its position in the business community. So the company can boost its capacity to attract potential customers.

Increases Employee Motivation

Companies showing interest in social responsibility improve their employee engagement. It enables companies to attract resources with a motivation to create an impact. this kind of employees boost the company’s efficiency and market growth.

A collective employee’s effort is critical to accomplish CSR initiatives. Employees working together for a cause will improve workplace morale and will lead to better productivity. Thus, CSR activities in a company increase employee engagement and motivation levels. In this manner, it will contribute to the profits of the company.

Community Support and Customer Loyalty

Social responsibility is a common ground for both companies and consumers. CSR can support the betterment of both local and global societies. thus it can be a bridge that benefits both.

Social responsibility programs should align with the core values of a firm. It opens doors to enhance customer retention and foster a sense of loyalty.

Bolstered Public Trust

After establishing a reputation for CSR, it is imperative not to become complacent. With a visible initiative, the industry watches for developments. A successful CSR initiative also helps to fight the common skepticism towards capitalist brands. Enterprise often believed to be profit-seekers, can show a different focus with a successful CSR project.

Continuous support to the project is necessary to maintain the trust gained as a responsible brand. Companies can maintain it through sustainable financial backing. They also can provide transparent evidence of equal organizational principles to achieve this.

Greater Sustainability

Environmentally friendly initiatives derive a lot of value for the enterprise.

Adopting environmental CSR practices aligns with preserving the environment. Moreover, it holds economic value for businesses.
Damaging the environment can have negative effects on business. Incorporating sustainable initiatives makes logical business sense.
Transitioning to sustainable alternatives may involve significant initial investments. These systems are more cost-effective in the long term.
The prices of fuel and other inputs are rising. So, companies that adopt less expensive technologies will gain financial benefits.
Encourage professional and personal growth

A CSR culture within companies encourages the culture of volunteering. It also encourages employees to be charitable in many other ways.

Encouraging such behavior aligns individuals with philanthropic values. Further, it fosters a commitment to improving local and global communities. So, it makes employees more productive and creative. Thus, corporate social responsibility in companies enables employees to grow personally and professionally.

Summing Up

Even a small initiative can make a significant impact on society. Smaller companies will have limitations in contributing funds or resources for CSR. But since the CSR compliance varies according to the size of the company, they can start with whatever suits their pockets.

These could include:

Organizing modest fundraising events
Fostering a culture of volunteering
Implementing a social mission and well-defined objectives
Providing educational programs for employees
Aligning with like-minded businesses to pool efforts.

Adopting corporate social responsibility (CSR) activities improves customer loyalty and retention. Moreover, it:

Boosts employee commitment
Enhances brand perception
Attracts investment prospects
Fosters recruitment of exceptional talent
Impacts financial performance

Socially responsible businesses make a good brand reputation and attract more clients. Moreover, it will help in attracting exceptional employees to the company. These are crucial factors in getting the desired results, profit, and better financial outcomes.

To see the original post, follow this link: https://enterprisetalk.com/featured/why-corporate-social-responsibility-is-critical-for-companies/

How Worst-Case Scenario Exercises Help Companies Prepare For A Crisis

20 07 2023

Conducting worst-case crisis scenario exercises can help ensure companies are as prepared as possible when, not if, disaster strikes. Indeed, too many business leaders have found out the hard way that today’s ‘it would never happen here” crisis can become a real-life corporate emergency tomorrow. Image: GETTY

By Edward Segal, Senior Contributor at Forbes • Reposted: July 20, 2023

Conducting worst-case crisis scenario exercises can help ensure companies are as prepared as possible when, not if, disaster strikes.

Indeed, too many business leaders have found out the hard way that today’s ‘it would never happen here” crisis can become a real-life corporate emergency tomorrow.

Given the nature of all the crises that could befall organizations, there is an element of urgency for practicing responses to “what-if” situations and ensuring there are plans place to deal with different disasters, scandals, or other emergencies.

Reality Checks

The crisis simulations can provide company executives with reality checks about their readiness, resources, and responses to situations that could impact their organization’s image, reputation, operations, and bottom line.

“Scenarios can be used to raise awareness, to train and reinforce skills and procedures, to assess preparedness and identify gaps, as an aid in developing crisis/emergency response plans, and even to test and improvise such plans,” Eric Stern, a professor at the College of Emergency Preparedness, Homeland Security & Cybersecurity at the University of Albany, said via email.

There are many ways in which the simulations can be conducted, such as tabletop and thought exercises, computer simulations, and role playing off-site. But no matter how it’s done, the issue is whether they are tested at all.

‘Different Definitions’

“Each company will have a different definition of a worst-case scenario—if you’re an airline, it’s a crash or a massive passenger-related issue; if you’re a tech company, it could be a cybersecurity breach; if you’re a nonprofit, it could be insider fraud,” Heather Wilson, managing director and head of crisis and litigation at TrailRunner International, said via email.

The more varied the subject of the exercise, the better. The possibilities could include accidents, strikes, the death of corporate executives, and economic downturns.

The simulations “can be inspired by recent or historical experience of peer organizations at home or abroad, expert risk analysis of contingencies that have not happened yet but are thought likely in the future, as well as by data-driven so-called modeling and simulation techniques,” the University of Albany’s Stern observed.

‘Often Overlooked’

“Worst-case scenario planning is often overlooked but incredibly invaluable in crisis communications, Zoe Mumba, senior manager for public relations and communications at Bitmovin, a video streaming technology company, said via email.

“While it is unrealistic to have an individual and tailored plan for every worst-case scenario, there should be a plan in place for how your company should respond to a crisis in the first few hours,” she said. That should include “the process for communicating with internal and external stakeholders, the approval process for communications ,and even having a template for holding statements.

‘Building Muscle Memory’

“Exercising builds muscle memory. By practicing ways of working in a crisis, a team becomes comfortable working under pressure. They understand what needs to be done, when and how,” Jonathan Hemus, managing director and crisis management consultant at crisis management agency Insignia, said via email.

“This creates confidence and assurance, which is lacking in teams who fail to rehearse. It means the team can focus on the really important parts of managing the crisis—making big decisions—rather than worrying about the process itself,” he observed.

Not Just For Brick And Mortar Organizations

Crisis response exercises are important for every business and organization, including those who operate outside of traditional offices.

Each year the Houston Livestock Show and Rodeo holds a public parade, “and we do a run-through from a crisis communications standpoint,” Danielle Grossman, the organization’s director of strategic communications, said via email.

“We work through our plan from start to finish if there was some type of crisis. We mimic who is contacted first, then the chain of command thereafter and how we ultimately disseminate information to the public, if any,” she noted.

If you don’t think it’s important to anticipate and practice for worst-case scenarios, think again.

Consider Travis Scott’s November 2021 concert at the Astroworld Festival in Houston, where eight people where died.

Concert organizers did had a crisis management plan. But it made no provisions for crowd surges—which created the deadly crisis.

To see the original post, follow this link: https://www.forbes.com/sites/edwardsegal/2023/07/19/how-worst-case-scenario-exercises-help-companies-prepare-for-a-crisis/?sh=286caf35696f

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Tags: corporate social reponsibility, corporate social responsibility, CSR, Emergency Preparedness, ESG, Worst-case scenarios
Categories : Climate Change, corporate social responsibility, DEI, ESG

How Supporting Gender Equality in the Workplace Supports Us All

19 07 2023

Hot Bread Kitchen is a New York City-based nonprofit organization that creates economic opportunity for immigrant women and people of color with training and job placement in the food industry. (Image courtesy of Hot Bread Kitchen)

By Leslie Abbey and Miriam Warren from Triple Pundit • Reposted: July 19, 2023

When we look at what it takes to be successful in the workplace — and what makes a workplace successful — it becomes immediately apparent that workers need agency over their choices, goals and actions. It’s also clear that women and people who identify beyond the gender binary are systematically denied agency in the workplace — as in, the opportunity to make decisions, take purposeful action and pursue goals.

The COVID-19 pandemic highlighted myriad barriers to women’s agency in the workplace, attributable to outdated societal gender norms. In the first months of the pandemic in the United States, women’s employment fell precipitously in comparison to men. The reason? Women still tend to be more likely than men to leave their jobs or downsize their positions to take care of children and/or elderly family members when the need arises.

For those that remain in the workforce, factors limiting the agency of women and gender-expansive people abound. Women’s agency is hindered because they are more likely to fill service-industry jobs that tend to offer limited flexibility or benefits, and women with lower educational attainment are hit the hardest.

Transgender and gender-expansive people face workplace barriers due to being generally underrepresented in the U.S. workforce, and consistently enduring threats of violence, discrimination and stigma. Lack of guaranteed healthcare or paid leave, limited access to childcare, inflexible schedules, fewer opportunities to build knowledge and skills, and much more intersect to limit women and trans people’s freedom to pursue their professional goals.

This shift toward lower workforce participation among women and trans people — and the increased gender inequality that follows — has lasting implications for the future options and decision-making of workers, not to mention for younger generations. Further, lack of workforce diversity is both a result of, and leads to, lack of leadership diversity, further entrenching these conditions.

Mindful of lessons learned from the pandemic, and with the knowledge that women and gender-expansive people are critical to business’ success, we are more aware than ever that organizations and workers excel when they are led with wisdom and compassion. When ranked by their employees, 55 percent of women leaders were perceived to have these two critical traits, versus 27 percent of men. The point is not that women are necessarily better leaders, but rather that they tend to embrace leadership practices that foster more inclusive work environments for everyone, which in turn creates a bulwark against the trends listed above.

The existing gender gap in workplace leadership has real ramifications for the bottom line and for our culture. When various industries’ current leaders (who, generally speaking, tend to be men) continue to take a “traditional” approach to leadership and company policies — one that favors business-as-usual over humanity and equity — it further entrenches norms that exclude women and gender-nonconforming people from leadership positions, diminishes overall productivity, and has larger implications for generational wealth. And, as we saw in the early days of the pandemic, these approaches can push women out of the workforce entirely and limit agency for the longer term.

By embracing an approach focused on wisdom and compassion, employers — from major corporations to local nonprofit organizations — can play an important role in advocating for women’s and gender-expansive people’s agency and success in the workforce and beyond, ensuring all workers have the resources they need to excel at work and at home.

hot bread kitchen empowers women with restaurant skills — Hot Bread Kitchen provides immigrant women and people of color with culinary skills training and professional readiness programs, job placement, food business entrepreneurship assistance, social services support, bridge training, an extensive employer network, and more. (Image: Wini Lao for Hot Bread Kitchen)

How Hot Bread Kitchen supports empowered workers

This is where Hot Bread Kitchen comes in. Hot Bread Kitchen is a New York City-based nonprofit organization that creates economic opportunity for immigrant women and people of color using the vibrant food industry as a catalyst for personal and professional growth.

We support our program members — who are disproportionately affected by social and economic barriers to wealth generation and long-term stability — as they pursue their career ambitions. We support women and gender-expansive people by providing culinary skills training and professional readiness programs, job placement, food business entrepreneurship assistance, social services support, bridge training, an extensive employer network, and more.

In the years since our founding, it has become clear that these strategies are critical tools for advancing women’s ability to find and sustain employment, grow in their careers, make choices for their families, and achieve their goals.

This holistic approach has been an evolving aspect of Hot Bread Kitchen’s model. When our organization started in 2008, we were a bakery with a simple, but important, mission: teach women bakery skills and connect them with food industry employers to secure jobs. Many other workforce development programs still drive toward a similar goal today: get people who are looking for work in the door, give them relevant skills training, and connect them with a job.

While there’s no arguing that this is an important objective, working side-by-side with our participants over the years has evolved our understanding of what it means to ensure women’s agency, a thriving career, or a meaningful public life. At Hot Bread Kitchen, we learned that for our members to be successful in the long run, we needed to do more — to take an approach that supports the whole person, not just the worker.

Empowering women to succeed in the workplace demands a comprehensive approach to overcoming obstacles, both at work and beyond. But what exactly does this look like, and what can you do to help?

To see the original post, follow this link: https://www.triplepundit.com/story/2023/women-gender-equality-workplace/778986

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, DEI, ESG, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : corporate social responsibility, DEI, ESG, social responsibility, sustainability, sustainable branding, sustainable brands

AccountAbility CEO Sees ESG Metrics as Key Predictors of Corporate Financial Health

15 07 2023

From AccountAbility • Reposted: July 15, 2023

AccountAbility, the trusted global ESG Consulting and Standards firm with a three-decade history in guiding leaders to build better companies, is pleased to announce that CEO Sunil (Sunny) A. Misser recently engaged in an exclusive interview with Nareit, the worldwide representative voice for REITs and listed real estate companies with an interest in U.S. Real Estate and Global Capital Markets.

In the interview, Mr. Misser shared insights on the latest trends in ESG practices, and the evolving landscape of sustainability within the corporate sector. This was framed against the ESG predictions and patterns observed by Mr. Misser over the past decade. Notably, the Consolidation and Standardization of ESG Frameworks and Standards at the highest level, and the significant shift as ESG metrics sit alongside financial metrics in predicting the future health of a company.

“Standardization and Consolidation of ESG Standards, Frameworks, Reporting, and Disclosure has occurred. ESG Metrics are now entering the mainstream of business. With this, ESG metrics will not be used to just report and disclose a company’s financial health, but more importantly predict it,” comments AccountAbility CEO Sunil (Sunny) A. Misser.

Mr. Misser spoke in detail on emerging ESG Trends that are shaping the corporate agenda, including the impact of geopolitical disruption across all facets of the global economy: Disruption of Supply Chains, Cost of Capital, Managing Inflation, Access and Cost of Energy, and Clear Direction of Monetary Policy. Business will need to respond to this New “G” (Geopolitics) in ESG while maximizing resilience to macro shocks and prioritizing uninterrupted service delivery.

Corporate Boards have long played a key role in setting an organizations culture, values, and business practices. Now, the structure of Boards is changing. Mr. Misser spoke to this trend and the emergence of Boards that will be purpose built with diversity of thinking (beyond just diversity of pigmentation) sitting alongside gender, socio-economic, professional, and cultural backgrounds as central to effective, future-focused Boards.

These emerging trends, as detailed within the AccountAbility 7 Sustainability Trends 2023 Report, together with the economic factors impacting specific geographies and industries, make clear the need for companies to integrate sustainability into their core business strategies to remain competitive and resilient in today’s rapidly evolving global market.

The AccountAbility 7 Sustainability Trends 2023 – Highlights

The Net Zero Landscape: Against an unprecedented volume of net zero commitments, what are the risks for those that fail to act, and the opportunities for businesses to lead?
Stakeholder Activism Is Getting Louder: As businesses face increasing pressure to take a stance and demonstrate actionable progress on a range of ESG issues, how best can leaders balance this with the imperative to maximize shareholder value?
Geopolitics: The New “G” In ESG: In an era of increasingly globalized business operations, how can organizations address the outsized role that the new G (Geopolitics) is playing in the business landscape?
Building an Effective, Future-Focused Board: As demands and expectations shift, how best to equip future-focused Boards to meet the requirements of the evolving business environment?
Next Generation ESG Disclosure and Reporting: A shift from voluntary to mandatory ESG Disclosure is set to heighten attention on corporate sustainability disclosure practices. How will these changes impact ESG Reporting?
The Road to a Sustainable Value Chain: How can the integration of sustainability criteria into supply chains drive organizational shifts towards a more context-aware and competitive value chain?
Nature Based Assets Will Drive Valuations: As nature-based assets are increasingly recognized for their significant impact on valuations, what steps can companies take to achieve nature-based performance goals?

AccountAbility is committed to fostering knowledge sharing and collaboration and to helping advance the Global ESG agenda. By engaging in discussions with industry leaders such as Nareit, and with their 7 Sustainability Trends 2023 Report, the firm continues to advance the collective understanding of ESG trends, challenges, and opportunities that are shaping the business landscape.

The full Nareit interview with Mr. Misser can be viewed here.

Download the AccountAbility 7 Sustainability Trends 2023 Report.

To see the original post, follow this link: https://www.csrwire.com/press_releases/778726-accountability-ceo-sees-esg-metrics-key-predictors-corporate-financial-health

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Tags: accountability, corporate social responsibility, CSR, DEI, ESG, responsible brands, Sunil A. Misser, Supply chains, sustainability, sustainable branding, sustainable brands
Categories : corporate social responsibility, DEI, ESG, responsible brands, social responsibility

How To Implement Philanthropy Into Your Work Culture

14 07 2023

Photo: Getty Images

By TH Herbert, Forbes Councils Member, Forbes Business Council via Forbes • Reposted: July 14, 2023

TH Herbert is the CEO of Semarchy, a data software company that enables organizations to leverage their data to create business value.

Giving back to those in need via your time, money or resources can be an incredibly rewarding experience. For businesses, giving back is a chance to use your status as a force for positive change and build a stronger teamwork culture in the process.

More people than ever are paying attention to brands that are taking a stance on something they care about, and employees are increasingly looking for more than just a paycheck. Aligning yourself with charitable work not only sets a great example but allows you and your team to play an active role in community improvement. With more conscious consumers and added corporate pressure to maximize short-term profits, however, many businesses need help understanding how to prioritize philanthropy.

While you don’t have to be a philanthropy-focused business to help your community, I believe that you do need to install some philanthropic spirit into your workplace. While philanthropy is essential in building a reputation for your company as a form of corporate social responsibility (CSR), it shouldn’t be exclusively a tactic to promote your brand image and profit through advertising or cause-related marketing. It’s much more than bolstering your reputation in the media—consider how your business can significantly impact the lives of others, including those within your own company.

Showing that your business is committed to positively impacting society beyond recognition and core business activities, which naturally helps build trust and goodwill among consumers, employees and other stakeholders, is what will ultimately lead to increased brand loyalty and support as a by-product.

According to America’s Charities, employee participation increases when a business decides to make a charitable choice. The company culture notably shapes how employees see their profession, so philanthropic acts, no matter how often, allow employees to use their knowledge and experience while doing good within a community. According to America’s Charities, workplace giving (donating directly from a paycheck) is the most common type of employee engagement. Approximately $5 billion is raised through workplace giving annually, according to America’s Charities.

But there are many more ways to act. Through a philanthropic culture, businesses can differentiate themselves and create a unique selling proposition that appeals to clients looking for socially responsible companies and dedicated to making a change in the world.

Philanthropy In Practice

As an example of how to put this in practice, my company celebrates an annual “Day of Giving.” Even as a highly virtual company, our team finds creative ways to make a positive impact, banding together to raise awareness and money for things like medical research, planting trees or volunteering at local charities.

It’s up to the organization to set an example. For example, during our annual day of giving, my company supplies software and services at huge discounts to nonprofits like Cancer Research U.K. I’ve found that these types of efforts can significantly raise your employer net promoter score(eNPS).

How To Incorporate Philanthropy Into Your Workplace

There are many ways to establish a culture of giving within your workplace. First off, your company itself must make giving a priority. Whether by donations, matching programs or allowing employees time away for charitable endeavors, taking steps to create a culture of generosity adds value to your business, meaning to your employees and instills why giving back is necessary.

Once people start getting involved, I’ve found that it becomes a domino effect. More employees will continue participating, and healthy, friendly competition will often develop between offices. Eventually, volunteer opportunities can expand into much larger endeavors, allowing your company to adopt a philanthropic culture on its own. Employees will feel encouraged to think outside the box, looking for ways to make a difference.

Value Your People

Before encouraging your employees to donate or volunteer for any cause with the company, you must show them that you value them. A business that treats its workers poorly won’t be able to promote a culture of giving back. If employees are unhappy, why would they want to spend more time volunteering with co-workers or contributing to company-wide charity events?

You must listen, support and properly acknowledge your employees for their work if you want to inspire them to share that value with those in need. An organizational health assessment is a good starting point. Ensure that time is taken to understand the feedback and make it actionable is key.

Volunteer As A Team

Establishing camaraderie creates a community within your work environment, allowing people to know one another more deeply. Seeing one member do something wholesome tends to encourage others to participate. Good deeds and kindness can be highly contagious.

I also recommend that you utilize suggestions from employees on charities they may have a connection with—making them a part of the decision making. You can rotate through ideas and make it a time your company looks forward to multiple times a year. It shouldn’t just be a one-time thing.

Donate More Than Money

Donating money is not the only option for charitable giving. Organizations need supplies, volunteers and resources right away, not the money to buy them later. Collecting items or organizing a volunteer day are often much better alternatives. This can also help everyone play a personal role in helping others, knowing that their items will improve other lives.

Giving back can be a great challenge for an organization; it takes time, planning and commitment. But I think you’ll be surprised about the benefits that come along with it. Creating a work environment with opportunities for community initiatives and charitable giving incites motivation for your team to succeed. Incorporating philanthropy into your business model can make your employees more responsible, inspired and satisfied with their jobs.

To see the original post, follow this link: https://www.forbes.com/sites/forbesbusinesscouncil/2023/07/13/how-to-implement-philanthropy-into-your-work-culture/?sh=56343b41447d

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, philantrophy, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : corporate social responsibility, DEI, ESG, responsible brands, sustainability, sustainable branding, sustainable brands

Target Gets a Second Chance on LGBTQ Rights

12 07 2023

Image credit: Daniel ODonnell/Unsplash

By Tina Casey from Triple Pundit • Reposted: July 12, 2023

Leading U.S. retailer Target disappointed human rights organizations earlier this year when it failed to push back against a wave of aggressive anti-LGBTQ behavior related to its Pride Month merchandise. Now Target has another chance to get it right, and the stakes are high.

Target backs down when anti-LGBTQ activists come calling

Anti-LGBTQ activists confronted staff at several Target stores in May, during the runup to Pride Month. Instead of pushing back, Target removed the offending displays. “Target is pulling some LGBTQ merchandise from stores that it rolled out for Pride Month after confrontations with customers,” Jessica Guynn of USA Today reported on May 23.

Guynn cited a statement from Target, in which the company referred to “threats impacting our team members’ sense of safety,” as well as “volatile circumstances” and “confrontational behavior” that influenced its decision to remove merchandise.

That decision was roundly criticized by hundreds of human rights groups in a letter organized by the Human Rights Campaign on June 5. However, some saw it as a case of better safe than sorry. The confrontations at Target go beyond the actions of a few scattered individuals. They reflect a dangerous environment of anti-LGBTQ entitlement leading to physical attacks on LGBTQ events and individuals. That includes confrontations sparked by the white supremacist organization Proud Boys, a group the Justice Department has connected to the failed insurrection of January 6, 2021.

This environment of entitlement has built up over years of sustained, state-sanctioned attacks on LGBTQ rights. Critics say former President Donald Trump imprinted anti-LGBTQ activists with approval from the highest office of the land throughout his tenure ending in 2020. That was followed by a fresh torrent of state-based anti-LGBTQ legislation in 2021, on the heels of the January 6 insurrection.

New anti-LGBTQ legislation has been cropping up ever since, including a rising tide of book bans directed against LGBTQ authors. That also includes anti-ESG (environmental, social and governance) legislation, which leans heavily on the “woke capitalism” canard to stop businesses from pursuing diversity, equity and inclusion goals.

State attorneys general double down on hate

Social media has also played a key role in raising the profile of anti-LGBTQ activists. The social media effect burst into full flower in April when activists aimed their fire at a promotional relationship between the trans actor and influencer Dylan Mulaney and the Bud Light brand of AB-InBev.

Rightwing commentators including Matt Walsh said the social media campaign against Bud Light aimed to “make ‘pride’ toxic for brands,” Fortune’s Ellen McGirt reported. Guynn of USA Today quoted another such activist, who wrote on Twitter: “Target deserves the Bud Light treatment. We will work to put the pressure on them.”

Seven state attorneys general — representing Arkansas, Idaho, Indiana, Kentucky, Mississippi, Missouri and South Carolina — appeared to get the message.

On July 5, they issued a joint public letter to Target CEO Brian C. Cornell that all but threatens legal action unless Target stops selling any “potentially harmful” products to minors. “As the chief legal officers of our States, we are charged with enforcing state laws protecting children and safeguarding parental rights. … In light of these responsibilities, we wish to communicate our concern for Target’s recent ‘Pride’ campaign,” they wrote.

This goes way beyond Pride

The letter sparked a wave of media attention, much of it focused on several products that the attorneys general singled out for removal. However, the letter is far more interesting for its recommendations on what to put in, not what to take out.

“It is likely more profitable to sell the type of Pride that enshrines the love of the United States,” they recommended. “Target’s Pride Campaign alienates whereas Pride in our country unites.”

“We live in a different day and age from our nation’s founding. But certain immutable precepts and principles must always endure so long as America is to remain free and prosperous,” they admonished.

As for what type of products and images reflect “love of the United States” and “immutable precepts and principles,” the letter leaves that up in the air. It does, however, strongly suggest that removing all LGBTQ symbolism from products is just the first volley in an attack on any kind of image that appears to be “anti-Christian.”

“Target also sold products with anti-Christian designs, such as pentagrams, horned skulls and other Satanic products,” the attorneys general note.

More fact-free legal action from the usual suspects

The anti-Christian accusation is sensational, but it appears to be woven out of thin air. The letter apparently refers to images in a weeks-old social media post that were identified as fabricatedback on June 2, yet here they are popping up again in an official letter from seven state attorneys general.

Spotting “anti-Christian designs” where there are none is just one more example of the fact-free thinking that has come to characterize policy-making by many Republican office holders from the Supreme Court on down. It’s no surprise to find the same mindset at work elsewhere in the letter, where the attorneys general attempt to show that Target’s Pride campaign was an abrogation of its fiduciary duty to stock holders.

“The evidence suggests that Target’s directors and officers may be negligent in undertaking the ‘Pride’ campaign, which negatively affected Target’s stock price,” they charge.

That’s news to Wall Street analysts. Target’s stock was on the downswing long before the Pride controversy, falling 32 percent in 2022, according to an April analysis posted on Forbes. The analysis, conducted by Trefis, linked the company’s wavering stock price to “a slowing economy, supply chain worries and shifting consumer sentiment,“ along with inventory issues and higher logistics costs.

By May, MarketWatch discerned a spark of good news. “After a difficult 2022, when Target was one of the more highly visible examples of the inventory glut that plagued retailers last year, the benefits of being cleaner were notable in the [company’s first quarter 2023] report,” D.A. Davidson analyst Michael Baker wrote on the platform.

Bringing the news up to date on July 6, the investor organization Motley Fool was even more optimistic. “Target is dealing with major sales and earnings challenges stemming from a sharp demand shift away from merchandise categories that were booming during the pandemic,” observed Motley Fool reporter Demitri Kalogeropoulos, who completely ignored the steamy rhetoric from anti-LGBTQ activists. “Yet inventory levels are down, potentially setting the business up for a solid rebound over the next few quarters.”

If Target learned anything from Pride Month, it’s that nothing will satisfy anti-LGBTQ activists, whether it’s an unhinged individual loudly confronting a store clerk or a phalanx of state attorneys general quietly issuing letters. The best defense is a good offense, as the saying goes. And the retailer has a real opportunity to change its tune.

To see the original post, follow this link: https://www.triplepundit.com/story/2023/target-second-chance-lgbtq-rights/778611

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Tags: corporate social reponsibility, corporate social responsibility, CSR, ESG, Human Rights Campaign, LGBTQ rights, Pride, sustainability, sustainable brands, Target
Categories : corporate social responsibility, DEI, ESG, social responsibility, sustainable brands

Only 13 Percent of Executives Say Sustainability is Deeply Embedded Into Their Company Culture

11 07 2023

From the Conference Board • Reposted: July 11, 2023

Just 13 percent of executives say sustainability is deeply embedded into their firm’s cultural DNA. Most companies are generally at the early to middle stages of building a sustainability culture, with 49 percent saying it is moderately embedded and 37 percent saying it is slightly embedded.

That is according to a new report by The Conference Board in collaboration with Baker Tilly. The report, Building a Sustainability Culture, is the culmination of a series of Working Group sessions, at which executives from companies in various sectors discussed how to develop and maintain a corporate culture that embraces sustainability.

“To take advantage of the transition to a sustainable economy, companies need to build a sustainability culture that becomes an indelible part of their organization’s character,” said Paul Washington, Executive Director of The Conference Board ESG Center and co-author of the report. “The Building a Sustainability Culture Working Group served as a valuable step in helping leaders equip their workforces with the behaviors, training, resources, and capabilities necessary to meet the unprecedented challenges and opportunities in the areas of corporate governance, sustainability, and citizenship.”

“The findings of our report underscore the need for embedding sustainability into business as usual, in addition to highlighting the distance still left to travel on the journey to a sustainable economy,” said Srinand Yalamanchili, Baker Tilly Director−ESG and sustainability. “Embedding sustainability into culture and business strategy can only be achieved by prioritizing the ‘why’–the positive return on investment and risks of inaction–and taking ownership at both an organizational and individual level.”

The Working Group convened more than 250 executives from 160 companies who met over the span of eight months to focus on how to develop and maintain a culture in which those at the organization think and act with sustainability in mind. The report provides insights into five areas: 1) what is a sustainability culture?; 2) why does it matter?; 3) how do companies build a sustainability culture?; 4) who is responsible?; and 5) how do companies measure success?

Key insights from the report include:

Companies are in the early stages of building sustainability into their culture.
- Just 13 percent of executives say sustainability is deeply embedded into their company culture, with 49 percent saying it is moderately embedded and 37 percent saying it is slightly embedded.
Sustainability and cultural change need to be closely linked to the execution of the company’s business strategy.
- 30 percent of the respondents cite the CEO as best suited to lead the cultural transformation of the organization, followed by 28 percent who cite those responsible for the company’s business strategy and operations.
Both the positive ROI (return on investment) and the negative ROI (risk of inaction) are driving the case for building a sustainability culture.
- An initial motivator: Explaining the “Risk of Inaction”—the negative consequences of failing to change.
- A constant motivator: Explaining the positive case for how increasing the organization’s focus on sustainability will improve the company’s performance in the marketplace, including the markets for products and services, talent, and capital.
Employees need to feel a sense of ownership when it comes to building a sustainability culture.
- 75 percent of participants cite a “sense of ownership” as the most important aspect of a sustainability culture, followed by a clear mission, purpose, and values.
Companies may need to move beyond traditional training and compensation to motivate progress.
- Only half (50 percent) of participants cite compensation as the most effective way of recognizing and rewarding behavioral change. By contrast, 61 percent cite internal recognition from senior management as the most effective, and 54 percent cite promotions and career opportunities.

About The Conference Board ESG Center

The Conference Board ESG Center serves as a resource, platform, and partner to help Member companies address their priorities in corporate governance, sustainability, and citizenship. ConferenceBoard.org/ESG

To see the original post, follow this link: https://www.prnewswire.com/news-releases/only-13-percent-of-executives-say-sustainability-is-deeply-embedded-into-their-company-culture-301873044.html

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, responsible brands, sustainability, Sustainability Culture, sustainable branding, sustainable brands, The Conference Board ESG Center
Categories : DEI, ESG, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Red and Blue States Are Hit Equally By Climate, Labor Woes, Says Investment Banker

7 07 2023

Image credit: Courtney Hedger/Unsplash

By Dave Armon via Triplepundit.com • Reposted: July 7, 2023

Amid climate change denial and cries of “go woke, go broke” from the extreme right, at least one large U.S. investment bank has identified bipartisan support for sustainability investments that are likely to yield big returns without political drama.

Modernizing the U.S. power grid, fortifying climate-vulnerable regions, supporting carbon-removal technologies, and eliminating college education as a hiring requirement are economic drivers with support from both Democrats and Republicans, Aniket Shah, global head of ESG and sustainable finance strategy at the global investment banking firm Jefferies, told corporate sustainability executives and bankers at the GreenFin conference in Boston.

“If you work in our field of [environmental, social and governance (ESG)] investing and green finance, you are used to division and pessimism,” Shah said. “But we think there is a bigger story, which is that there are very clear areas of agreement and, therefore, optimism on ESG matters between policymakers, corporates, and civil society of different political persuasions and world views.”

In the run-up to the 2024 presidential election, laws prohibiting the use of ESG factors in managing investments have been passed in 15 states, with additional legislation coming, according to BloombergNEF.

Culture wars are spilling over into brand reputation and consumer buying habits. Bud Light lost billions in revenue in a boycott that began when the formerly top-selling beer sent a customized can to a transgender social media influencer. Target was assailed for selling Pride Month merchandise. Even a brand long associated with Christian conservatives, Chick-fil-A, was criticized for a hire it made years ago to improve diversity, equity and inclusion at the quick-service restaurant chain.

But passage of the Bipartisan Infrastructure Law demonstrates there’s broad agreement from Democrats and Republicans on investments to accelerate and strengthen the economy, said Shah, who teaches at Columbia University in addition to his management role at Jefferies.

“They say the first step in solving any problem is to admit that you have one — and for the energy transition we have a significant problem in the U.S. grid, which is simply outdated for the major renewable buildout that is beginning in this country and underdeveloped in terms of transmission lines needed,” said Shah, citing Lawrence Berkeley National Laboratory data estimating the new grid will be 50 percent larger than today’s, and consisting of 95 percent wind, solar and battery storage.

However, regulatory approval for new renewable power projects now takes more than four years, and transmission projects require six and a half years, Shah said, calling for an overhaul of the U.S. permitting policies.

There is political consensus to invest in climate adaptation, Shah said, pointing to $400 billion in economic damage in red and blue states due to storms, flooding, wildfires and other disasters. In June alone, the largest California property insurer stopped underwriting policies, while rates in Florida rose 50 percent, he said.

“We think technologies ranging from precision agriculture, to construction, to water-desalination, to weather intelligence and more will become increasingly important to the U.S. economy and therefore interesting places for investors to invest,” said Shah, predicting a federal plan for adaptation and resilience will be published by the Joe Biden White House.

Investment in technology to remove carbon from the atmosphere will also receive bipartisan support, Shah claimed.

“To achieve global net-zero goals, we will need to remove approximately 10 gigatons of CO2 per year from the atmosphere by 2050 for every year going forward, a several order of magnitude increase from where we are today,” he said, heralding new industries that are both nature-based and engineered will be scaled up worldwide.

Outside environmental investments, Shah pointed to the tightening U.S. labor market as a significant risk equally impacting conservative and liberal regions. He pointed to Gallup research showing sharply higher support among Democrats and Republicans for labor unions.

Employers are responding, eliminating a college degree as a requirement for a job at select companies and in multiple states including Alaska, Colorado, Maryland and Pennsylvania, Shah said. Other trends to make jobs more appealing include remote work and four-day work weeks for many white-collar roles.

“There is a growing realization that the United States is facing major worker shortfalls for the twin policies of reshoring manufacturing and accelerating decarbonization,” said Shah, citing predictions for 550,000 additional clean energy jobs by 2030, including electricians and construction roles where there are already shortages.

“This is a problem that will need to get solved,” he said. “It’s a problem that exists in states of all political persuasions, and therefore will get solved.”

Dave Armon is the Chief Executive Officer of 3BL Media, which produces the 3BL Forum and ranks the 100 Best Corporate Citizens. A former journalist, Dave spent 20 years in management at PR Newswire, where he was president and COO.

To see the original post, follow this link: https://www.triplepundit.com/story/2023/bipartisan-support-sustainability/778286

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Tags: accountability, Bipartisan Infrastructure Law, corporate social reponsibility, CSR, Culture Wars, ESG, green marketing, Jefferies, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, sustainability

Workplace Weight Discrimination is an Overlooked, Critical Aspect of DEI

4 07 2023

Image credits: Hannah Busing/Unsplash and Krystal Hardy Allen

By Amy Brown from Triple Pundit • Reposted: July 4, 2023

Weight discrimination is a common but under-identified aspect of workplace inequity that is finally getting some attention as organizations look to embrace a wider and more holistic definition of diversity, equity and inclusion (DEI). Addressing the problem isn’t just the right thing to do, experts say — it is a fundamental aspect of social justice.

“Weight discrimination would be any form of offense, harm or oppression at the expense of one’s weight that could be detrimental to an employee’s mental, emotional or physical health,” said Krystal Hardy Allen, founder and CEO of K Allen Consulting and author of “What Goes Unspoken: How School Leaders Address DEI Beyond Race.”

Weight discrimination affects individuals across various industries and occupations. In fact, studies show the majority of employers would prefer not to hire a candidate who ais visibly overweight.

There are significant ramifications to weight discrimination in terms of lower compensation, fewer promotions, denial of health insurance and other aspects of employment. Some employees are required to meet weight requirements in order to qualify for full healthcare coverage, and studies show that overweight people earn less in their lifetimes compared their colleagues.

The mental health consequences of weight discrimination should not be overlooked as they can affect spiritual well-being and the ability to operate while working, Allen said.

“Trauma can occur in a workplace environment from peer to peer or from managers to direct reports and vice versa,” she said. “There’s a very real connection between a feeling of inadequacy or imposter syndrome and the work climate and conditions in which a manager or supervisor, for instance, may not grant you certain opportunities because they don’t feel you are ‘the right face’ for the organization or the brand.”

Weight discrimination should be on the radar of every organization’s DEI strategy as a matter of policy, practice and social justice, she advised. A native of historic Selma, Alabama, Allen grew up in a space where discussion around social justice advocacy and activism was “as normal as learning how to read a map.” For her, weight discrimination fits into that space.

“Any form of harm, injustice or oppression is an injustice,” she said. “And so, any commitment we make to bettering the world for humans is social justice work.”

Krystal Hardy Allen, founder and CEO of K Allen Consulting and author of “What Goes Unspoken: How School Leaders Address DEI Beyond Race” talks about stamping out weight discrimination at work — *Krystal Hardy Allen, founder and CEO of K Allen Consulting and author of “What Goes Unspoken: How School Leaders Address DEI Beyond Race.”*

EI

While in the U.S., weight discrimination might more commonly affect those who are of a heavier weight, Allen points out that it depends a great deal on context and geography.

“Different countries present different realities for workplace climate and conditions,” she said. “In certain countries, there are body types that tend to be ‘the average’ or what one would consider to be the ‘normative’ body type or weight. It’s not just about being heavier. In some cultural contexts, being too skinny or small can be the target of discrimination, where being more voluptuous is the norm and seen as a sign of being healthy.”

Organizations need to be inclusive of weight discrimination

There are few legal protections specifically targeted at weight discrimination in the U.S. Michigan is the only state with a law making weight a protected category. And discrimination based on weight is banned in only a few cities such as San Francisco, Madison and, most recently, New York City.

Without much legal recourse, the onus is even more so on organizations to ensure this issue is acknowledged and addressed in their DEI strategies, Allen said. The first step is being aware that this type of discrimination exists and that a thoughtful approach is required to solve it.

“It takes a lot of intentionality for organizations, when they make a commitment to diversity, equity and inclusion, that they are not pigeonholing diversity and inclusion to only be about one identity and one lived experience,” she said.

Creating the conditions for change

Once weight discrimination becomes part of an organization’s awareness, it is a matter of creating the right conditions and climate for change. A helpful approach that Allen recommends is liberatory consciousness, a concept developed by thought leader Barbara J. Love.

The framework uses four elements — awareness, analysis, action and accountability/allyship — to change systems of oppression. And it is a way for an organization to be conscious of all forms of oppression before it applies any action, Allen said.

“It could include being mindful even in the process of planning events — for example, an outdoor physical team-bonding activity — and giving everyone an opportunity to raise concerns confidentially if needed, to be as accommodating and thoughtful as possible to every individual who works there,” she said.

For Allen, the bottom line is that “every organization should be open to an intersectional approach or a diverse way of thinking of identity and lived experiences.”

Along with awareness raising, the right policies and practices are critical, she adds. Capacity building and learning opportunities give people the knowledge of what an equitable policy actually is and bring to the forefront any biases they might be operating under.

“A change in practices and policies is vitally important because it pushes the organization to ask if they are being true to what they believe,” Allen said. “And it certainly gives protection to those who are on the receiving end of harmful acts and treatment because it gives them a sense of psychological and emotional safety, that they are cared for, that they do matter, and that the organization is invested in making sure that they are 100 percent part of this team.”

When organizations undertake an analysis, like auditing their practices, they can better understand the experience of their employees, Allen said. “That can be through a survey, focus groups [or] one-on-one interviews, but you have to ascertain and understand the current state before you move to action and develop a real plan to shift your policies, to shift your language and other unconscious forms of bias around weight discrimination.”

The good news is “that we’re incrementally getting better when it comes to this topic,” she said. “I invite all organizations to have more intentionality around weight discrimination as a way to evolve their DEI approach.”

To see the original post, follow this link: https://www.triplepundit.com/story/2023/workplace-weight-discrimination-dei/778111

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Tags: accountability, corporate social reponsibility, CSR, DEI, ESG, K Allen Consulting, responsible brands, Weight Discrimination
Categories : corporate social responsibility, DEI, ESG, reputation management, responsible brands, social responsibility, sustainable branding

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