Corporate Clean Energy Buyers Are Saving the Grid

5 07 2023

A one-megawatt solar installation in western Texas. Image: Jonathan Cutrer/Flickr

By Tina Casey from Triple Pundit • Reposted: July 5, 2023

Fossil energy stakeholders continue to insist on the need for new gas power plants, but evidence is emerging that wind and solar power can buffer the electricity grid from heat waves and other extreme weather events. That provides more support for corporations to continue lobbying for more clean energy, both as a means of climate action and a simple bottom-line matter of keeping the lights on.

Clean energy comes through in Texas 

Both wind and solar power were lauded as workhorses during an extended heat wave that descended on Texas last month.

“Experts credit the state’s diversity of energy sources for keeping the lights on. The significant increase in solar power generation in recent years has helped meet the growing demand for electricity in Texas, which operates its grid largely independently of the rest of the country,” the Texas Tribune reported on June 28.

“The Texas power grid comfortably met record demand during this week’s heat wave with abundant power supply from wind and solar plants, data from the grid operator showed,” Reuters reported on June 30, noting that the Texas grid added more than 6,300 megawatts of wind and solar along with more than 1,300 megawatts of grid-stabilizing energy storage, just in the past year. 

Wind speeds tend to slow during heat waves, and solar panels function less efficiently in hot weather. However, the additional clean energy and storage capacity helped to counterbalance heat-related slowdowns in output.

Grids are vulnerable to extreme weather 

The growth of clean energy in Texas made a marked difference in grid stability compared to years past. In February of 2021, for example, a severe winter storm propelled a lethal, widespread blackout In the state. At the time, Texas Gov. Greg Abbott quickly blamed the failure on wind turbines and solar panels. However, a body of follow-up reports identified the chief culprit as frozen conditions among the state’s large roster of unweatherized gas power plants.

The problem was exacerbated when the supply of gas to power plants was disrupted by inadvertent electricity cut-offs when utilities tried to prevent further grid damage.

“At one point during February’s storm, more than half of the state’s natural gas supply was shut down due to power outages, frozen equipment and weather conditions,” the Texas Tribune reported last year.

Though wind and solar did lose some capacity in the storm of 2021, as did all other forms of power generation, that was far outweighed by gas outages. On average, gas power plants supply 42 percent of the state’s electricity, meaning that any system-wide impact on the gas sector will have an outsized effect on the grid.

The problems in Texas were further amplified by its unique grid, which lacks the interconnections that could have enabled it to call upon resources in other states.

Texas leads on clean energy

The case for clean energy was difficult at the beginning of the 21st century when the technology was relatively new and costs were high compared to conventional resources.

Nevertheless, the Texas wind industry was already racing to lead the nation. It was fueled by a major new transmission system that began operating in 2013, as part of the state’s Competitive Renewable Energy Zones (CREZ) initiative. The new CREZ system brought wind power from the sparsely populated western part of the state to high-demand regions in the east.

The new transmission system did not just pop up out of nowhere. It was a joint venture between two corporate giants, comprised of a subsidiary of the Ohio-based energy firm American Electric Power and MidAmerican Energy Holdings, a subsidiary of the Nebraska-based firm Berkshire Hathaway.

New transmission lines are notoriously difficult to build, but the CREZ system progressed relatively quickly after first proposed in 2005. In a 2020 study of the project, Rice University attributed its success to the “influence of wind power inventors and developers on specific legislators and the governor.” 

Rice also cited the state’s strong history in energy entrepreneurship, as well as public support for clean energy and lobbying by environmental groups. Similar factors have also propelled growth in the state’s solar industry. Texas is now second only to California in solar capacity.

Texas businesses support clean energy

The power of corporate energy buyers has been on full display across the U.S. since 2015 when business leaders organized in support of former President Barack Obama’s Clean Power Plan during the runup to the 2015 Paris Agreement on climate change.

The Clean Power Plan never took effect, and former President Donald Trump pulled the U.S. out of the Paris Agreement. But U.S. corporations have continued to push the renewable envelope by leveraging their own buying power — including in Texas.

Still, despite growth of wind and solar in Texas, the state’s legislature has turned against clean energy in recent years. A new law intended to thwart ESG (environmental, social and governance) investing took effect in 2021, for example. But hundreds of Texas businesses continue to lobby in support of clean energy.

One group, the Texas Energy Buyers Alliance (TEBA), counts almost 400 companies on its rolls, including some of the largest employers and electricity users in the state. When state lawmakers introduced two burdensome new bills earlier this year, TEBA lobbied against them.

“The Legislature should strengthen our open energy market without discriminating against vital clean energy resources — and without picking winners and losers among the range of technologies Texas needs to power its future,” TEBA advised in a sponsored article posted on the Texas Tribune website.

To see the original post, follow this link: https://www.triplepundit.com/story/2023/clean-energy-grid-stability-texas/778141


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Categories : Climate Change, ESG, sustainability

Inequality: The Sustainable Business Blind Spot

5 07 2023

Graphic: Maddy Mitchell / Gavel Media

Climate change affects everyone but in vastly unequal ways. To address this and drive real, sustainable change, businesses must ensure their sustainability strategies do not exacerbate existing inequalities even further. By Isabel Shopley from Sustainable Brands * Reposted: July 5, 2023

When it comes to genuine sustainable development, businesses still have a blind spot. Collectively, we’re failing to address the systemic risk posed by mounting levels of inequality. This is a humanitarian tragedy and a barrier to long-term, meaningful sustainable change.

Addressing inequality — a business imperative

According to calculations by Credit Suisse, 54 percent of the $127.5 trillion in new wealth created between 2012 and 2022 went to the world’s richest 1 percent. And only 0.7 percent went to the four billion people who make up half the global population, predominantly in the Global South.

As the reality and challenge grows starker and harder to ignore, businesses are waking up to the urgent and systemic risk of inequality. It erodes trust in our political and economic system, unravels the social fabric, fuels civil and political unrest and constrains economic growth. In May, a group of more than 30 major corporations convened under the Business Commission to Tackle Inequality (BCTI) to launch a flagship report asserting that growing inequality is bad for business. The report highlights how rising inequality contributes to:

  • an increasingly volatile business operating environment;
  • supply chain insecurity;
  • the erosion of productivity and innovation;
  • regulatory and compliance risks; and
  • reputation risk.

It’s no surprise, then, that corporate performance on inequality-related matters is increasingly recognised as an investor priority because it creates ‘systemic risk’ to their entire portfolio. In response to this, a new framework is being developed for financial disclosures for social and inequality-related risks. The aim is to develop a disclosure framework similar to the TCFD and TNFD frameworks for climate and nature.

Inequality and climate change: 2 sides of the same coin

Aside from the business and economic cost and the vast humanitarian consequences, inequality also undermines the world’s ability to address existential global threats such as climate change. As wealthy countries outsource industries and labor to developing nations, emissions are driven up — as these nations have usually not had their industries regulated through global climate policies or modernised to become more sustainable. Additionally, poverty in developing nations often forces communities to put more pressure on the environment — which can lead to unsustainable agricultural practices, deforestation and overexploitation of natural resources.

So, inequality worsens climate change — which simultaneously fuels inequality. For example, poorer countries lack the resources to recover from extreme weather events brought on by climate change. Similarly, access to resources such as clean water, food and adequate housing is reduced as the climate worsens — further exacerbating insecurity and inequality.

Sustainable solutions must incorporate all voices

It’s clear that not everyone will feel the impacts of climate change equally. Many communities will lose more than others, compounding deep-rooted societal and systemic inequalities. Despite this, it’s these very people who will feel the effects of climate change most acutely that are often left out of the conversation when it comes to business solutions. This dangerous discrepancy can limit perspectives on the climate issue and the success and relevance of proposed solutions. It’s crucial we address the needs of those worst affected by climate change and incorporate their voices and knowledge into decision-making.

Doing so will help futureproof organisational strategies, too. To date, businesses haven’t been particularly proactive at including the perspectives of those groups most likely to be negatively impacted by climate change into their conversations and strategies to address it. But they should be. Consideration of their challenges and insights is not only fair — it can also be the difference between success and failure when it comes to setting short- and long-term sustainability priorities.

Rethinking business impact and rightsholders

The introduction of double materiality is set to change this and is driving a monumental shift in the way businesses consider impacts and rightsholders. Double materiality requires organisations to engage with two types of stakeholder: users of information and affected stakeholders, or ‘rightsholders,’ who are or could be affected by the organisation’s activities. To support this shift, companies must assess the significance of an impact according to its severity and likelihood. This methodology draws on established human rights impact-assessment methodologies with an emphasis on the rightsholder.

This is good news from an inequality perspective. By considering the views of rightsholders, a company is much more likely to take on board the opinions of those who face greater levels of inequality.

The way forward

Climate change affects everyone but in vastly unequal ways. To address this and drive real, sustainable change, businesses must ensure their sustainability strategies do not exacerbate existing inequalities even further. This won’t happen overnight; but it starts with a greater understanding of who your rightsholders and affected stakeholders are and how your business’ contribution towards climate change could impact them.

Double materiality and the BCTI’s new framework for financial disclosures on social and inequality-related risks can help with this. Ultimately, both reflect a broader, positive shift towards addressing and disclosing business impacts on sustainability-related issues — not just the impact of those issues on the business. This holistic approach to impact is key to reducing inequalities and creating meaningful sustainable change.

To see the original post, follow this link: https://sustainablebrands.com/read/finance-investment/inequality-sustainable-business-blind-spot


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Categories : Climate Change, corporate social responsibility, ESG, reputation management, responsible brands, social responsibility, sustainability

New IFRS Sustainability Disclosure Standards — 10 things to know

4 07 2023

The launch of the inaugural IFRS Sustainability Disclosure Standards by the International Sustainability Standards Board (ISSB) means fashion companies are required to communicate the sustainability risks and opportunities they face over the short, medium, and long term. By Hannah Abdulla from Just Style • Reposted: July 4, 2023

The ISSB’s first two standards are IFRS (International Financial Reporting Standards) S1 General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2 Climate-related Disclosures, which will now be released by the end of Q2 2023.

These two standards lay down in practical detail how clothing and textile companies, and those from other sectors, can report how they are impacted by climate change and the environment and how they are preparing to deal with these issues, which can impact their bottom line. Their goal is to help global investors better assess the long-term value of listed companies, with sustainability reports issued alongside standard financial statements.  

Together, these inaugural standards and the ISSB’s capacity-building programme aim to help build trust, confidence and much-needed global comparability to the sustainability disclosure landscape. 

What are the requirements for apparel and footwear brands and retailers? 

Clothing and footwear brands and retailers must disclose their strategic approach to managing environmental and social risks that arise from sourcing priority raw materials.

They are also required, where they use certified fibres and materials, for example GRS, BCI, GOTS, Cradle to Cradle to name a few, to disclose the percentage of the weight of the certified fibres against the percentage of raw material sourced. 

What should fashion businesses know about first set of IFRS standards:

  1. Global disclosure standards: ISSB Standards allow companies and investors to standardise on a single, global baseline of sustainability disclosures for the capital markets, with any additional jurisdictional requirements being built on top of this global baseline. 
  2. International support: The ISSB’s work has received strong support from investors, companies, policy makers, market regulators and others from around the world, including the International Organization of Securities Commissions (IOSCO), the Financial Stability Board, the G20 and the G7 Leaders. 
  3. Disclosure of decision-useful, material information: Focusing exclusively on capital markets means that ISSB Standards only require information that is material, proportionate and decision-useful to investors.  Moreover, by beginning with climate, companies can phase-in their sustainability disclosures.
  4. Building on and consolidating existing initiatives: IFRS S1 and IFRS S2 are built on and consolidate the Task Force on Climate Related Disclosures (TCFD) recommendations, SASB Standards, CDSB Framework, Integrated Reporting Framework and World Economic Forum metrics to streamline sustainability disclosures.  Consolidation will help companies to benefit from their investments they’ve already made in sustainability disclosures while reducing the ‘alphabet soup’ of sustainability disclosures.
  5. Reducing duplicative reporting: The baseline approach provides a way to achieve global comparability for financial markets, and allow jurisdictions to further develop additional requirements if needed to meet public policy or broader stakeholder needs. This approach helps to reduce duplicative reporting for companies subject to multiple jurisdictional requirements. 
  6. Helping companies communicate worldwide cost-effectively: ISSB Standards have been designed to provide reliable information to investors; helping companies to communicate how they identify and manage the sustainability-related risks and opportunities they face over the short, medium and longer term.
  7. Connections with financial statements: The information required by the ISSB Standards is designed to be provided alongside financial statements as part of the same reporting package.  ISSB Standards have been developed to work with any accounting requirements, but they are built on the concepts underpinning IFRS Accounting Standards, already required for use by more than 140 jurisdictions. 
  8. Developed through rigorous consultation: ISSB Standards have been developed using the same inclusive, transparent due process used to develop IFRS Accounting Standards – with more than 1,400 responses to the ISSB’s proposals. All ISSB papers, feedback and technical decision-making are available to view online. 
  9. Interoperability with broader sustainability reporting: The ISSB’s partnership with the Global Reporting Initiative enables the ISSB to build its requirements to be interoperable with GRI standards, helping to reduce the disclosure burden for companies using both ISSB and GRI Standards for reporting. 
  10. A partnership for capacity building: The ISSB’s responsibilities do not stop at standard setting. At COP27, the ISSB announced plans for a capacity building partnership programme, helping to establish the necessary resources for high quality, consistent reporting across developed and emerging economies. 

To see the original post, follow this link: https://www.just-style.com/news/10-things-to-know-about-new-ifrs-sustainability-disclosure-standards/


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Categories : corporate social responsibility, ESG, green marketing, reputation management, social responsibility

International ESG Rulemaker Publishes New Climate and Sustainability Disclosure Rules

4 07 2023

Photo: Greenomy

By Denise Lugo  Editor, Accounting and Compliance Alert from Thomson Reuters • Reposted: July 4, 2023

As expected, the International Sustainability Standards Board (ISSB) on June 26, 2023, issued two new disclosure standards that aim to interweave the climate and sustainability footprint of businesses into financial reporting.

The standards are the first round of environmental, social and governance (ESG)-related disclosure rules to be developed by the board and are being pushed for global use. Both standards are effective for annual reporting periods beginning on or after Jan. 1, 2024. Earlier application is permitted if both are applied at the same time.

“Our language is an accounting language; it is sustainability translated into an accounting language,” ISSB Chair Emmanuel Faber said in a speech at an IFRS Foundation conference that same day. “So you will find in S1, in particular the general requirements, a huge amount of notions that you’re very familiar with on purpose because we want as much as possible that connection within the general purpose financial reporting with the financial statements and with the valuation,” he said. “We are here to support the needs of the primary users of general purpose financial reports in the amount and the decision that they take on providing resources to entities, companies, bankers investors and others. That’s the reason why we exist and for that we know which language they need to be using and we’re focusing on that.”

Under IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2, Climate-Related Disclosures, businesses must disclose all sustainability-related risks and opportunities that could reasonably be expected to affect their cash flows, access to finance or cost of capital over the short, medium or long term that could reasonably be expected to affect prospects.

S2 is specific to climate-related risks to which the entity is exposed, i.e., climate-related physical risks; climate-related transition risks; and climate-related opportunities available to the entity.

The ISSB’s trustees have stressed that the rules are to be viewed as a global baseline for use worldwide.

“The global baseline approach, supported by the G20 and others, will provide investors with globally comparable sustainability-related disclosures that have the potential to move market prices, without constraining jurisdictions from requiring additional disclosures,” IFRS Foundation Trustee Chair Erkki Liikanen said in a statement. “This will help companies and investors by tackling duplicative reporting.”

Upon issuance, the standards pulled strong support from regulatory and other bodies including the AICPA-CIMA, the Financial Stability Board, and International Organization of Securities Commission (IOSCO).

“IOSCO has been actively involved in the IFRS Foundation’s consideration of whether and how to apply its trusted reputation and internationally renowned global standard-setting process to the topic of sustainability disclosures,” IOSCO Chair Jean-Paul Servais said in a statement. “We commend the leadership of the ISSB for the pace and quality of their work. IOSCO is conducting an independent assessment of the ISSB Standards, with a view to completing this review promptly.”

According to the main tenets of the guidance, both S1 and S2 require business entities to disclose information that will enable investors to understand:

  • the governance processes, controls and procedures a business entity uses to monitor, manage and oversee sustainability (S1) and climate-related (S2) risks and opportunities;
  • the entity’s strategy for managing sustainability (S1) and climate-related (S2) risks and opportunities;
  • the processes the entity uses to identify, assess, prioritize and monitor sustainability (S1) and climate-related (S2) risks and opportunities, including whether and how those processes are integrated into and inform the entity’s overall risk management process; and
  • the entity’s performance in relation to its sustainability (S1) and climate-related (S2) risks and opportunities, including progress towards any climate-related targets it has set, and any targets it is required to meet by law or regulation.

This article originally appeared in the June 27, 2023 edition of Accounting & Compliance Alert, available on Checkpoint.

To see the original post, follow this link: https://tax.thomsonreuters.com/news/international-esg-rulemaker-publishes-new-climate-and-sustainability-disclosure-rules/


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Categories : corporate social responsibility, ESG, sustainability, sustainable branding, sustainable brands

The Non-Financial Reporting Directive: A First Step Towards a More Sustainable Economy

3 07 2023

Photo: cause artist.com

From cause artist.com • Reposted: July 3, 2023

The Non-Financial Reporting Directive (NFRD) is a directive established by the European Union, which mandates large companies and select organizations to disclose their environmental, social, and governance (ESG) performance.

Adopted in 2014 and enforced since 2017, the NFRD ensures transparency and accountability in reporting non-financial aspects for these entities.

The NFRD is a significant step forward in the fight for sustainability. It requires companies to disclose information about their ESG performance, which will help investors, consumers, and other stakeholders to make more informed decisions about where to put their money and how to spend their time and resources.

The Non-Financial Reporting Directive covers a wide range of ESG issues, including:

  • Environmental issues: climate change, pollution, and resource use
  • Social issues: human rights, labor practices, and diversity
  • Governance issues: corporate governance, risk management, and ethics

The Non-Financial Reporting Directive requires companies to report on their ESG performance in a way that is:

  • Consistent: Companies must use the same methods and metrics to report on their ESG performance. This will make it easier for investors and other stakeholders to compare the ESG performance of different companies.
  • Comparable: Companies must report on their ESG performance in a way that is comparable to other companies in the same industry. This will help investors and other stakeholders to understand how a company’s ESG performance compares to its peers.
  • Transparent: Companies must provide detailed information about their ESG performance. This will help investors and other stakeholders to understand the risks and opportunities associated with a company’s ESG performance.

The NFRD is a complex directive, and there are still some challenges to its implementation. However, the directive is an important step towards a more sustainable economy.

By requiring companies to disclose information about their ESG performance, the directive will help to increase transparency and accountability, and it will encourage companies to improve their ESG performance.

The Impact of the Non-Financial Reporting Directive

The NFRD has had a significant impact on the way that companies report on their ESG performance. In the years since the NFRD came into force, there has been a significant increase in the number of companies that are reporting on their ESG performance.

This directive has also led to an improvement in the quality of ESG reporting. Companies are now providing more detailed information about their ESG performance, and they are using more consistent and comparable metrics.

The NFRD has also had an impact on the way that investors and other stakeholders make decisions. Investors are now more likely to consider ESG factors when making investment decisions.

Consumers are also more likely to buy products and services from companies that have a good ESG reputation.

The Future of the Non-Financial Reporting Directive

The NFRD is a dynamic directive, and it is likely to be updated in the future. The European Commission is currently working on a new directive, the Corporate Sustainability Reporting Directive (CSRD), which will replace the NFRD.

The CSRD is expected to be more ambitious and it is expected to require companies to report on a wider range of ESG issues.

The CSRD is a significant step forward in the fight for sustainability. It will require companies to disclose more information about their ESG performance, and it will encourage companies to improve their ESG performance. The CSRD is expected to have a positive impact on the environment, society, and the economy.

The Non-Financial Reporting Directive is an important step towards a more sustainable economy. It requires companies to disclose information about their ESG performance, which will help investors, consumers, and other stakeholders to make more informed decisions about where to put their money and how to spend their time and resources.

The NFRD has had a significant impact on the way that companies report on their ESG performance, and it is likely to be updated in the future to become even more ambitious.

The CSRD is a significant step forward in the fight for sustainability, and it is expected to have a positive impact on the environment, society, and the economy.

To see the original post, follow this link: https://causeartist.com/non-financial-reporting-directive-nfrd/


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Categories : corporate social responsibility, ESG, responsible brands, sustainable branding, sustainable brands

Novo Wealth Confirmed Growing Awareness of Responsible Investing

3 07 2023

Photo: Novo Wealth

Novo Wealth in their recent website article for clients noted the rising awareness of responsible and ethical investing and greater client funds being allocated to this prudent form of investment focus.

The increase in consumer demand in ethical companies and brands is seeing a large investment swing to renewable energy, ethical supply chains, medical innovations etc that help society. This is seeing people divesting more than ever before from industries that cause harm including fossil fuels, gambling, and tobacco.

Types of ethical investments include sustainable Investing, across-the-board investment strategy focused on environmental and social sustainability. Socially Responsible Investing.. Green Investing that is also referred to as eco-investing or eco-investment objectives. Impact Investing which is investment strategy to finance solutions to environmental and social problems.

ESG which stands for Environmental, Social, Governance investing which is similar to Impact Investing, but uses a financial-first framework.

Regardless if the client’s values are more aligned with environmental concerns or social equity issues, there are many ways to invest ethically to secure their financial future AND contribute to a better future for all. All that is needed is the right information on ethical companies and funds to get started, which is why Novo Wealth works with people all over Australia who believe financial security and sticking to their values can go hand-in-hand.

Paul Garner, founder of Novo Wealth said, “Our clients ask how they can differentiate between genuine ethical investments and not-so-responsible “green claims” made by others. Unfortunately, just because a fund uses the term ethical, sustainable, green, or responsible in its description, or claims to be fossil fuel free, does not mean this is the case and those interested to learn more about this, and other examples, should make contact.”

Novo Wealth note that there are a few key things an investor can look out for when researching funds to assess how socially responsible and environmentally conscious their offerings are. Does the fund publicly disclose which companies they’re investing in, as many funds will provide a list of their investment holdings, but many will only supply the top ten holdings. It’s difficult to know how responsible the entire portfolio is. This is where working with a financial adviser like Novo Wealth is extremely beneficial, as funds will provide full details of holding to Novo Wealth when requested.

Starting a responsible investment portfolio is much easier with the right help. As a dedicated ethical financial adviser, Novo Wealth can help guide clients ignore the misleading environmental claims and greenwashing jargon and understand how responsible funds may work in conjunction with an overall financial plan.

Learn more about Novo Wealth’s advice on responsible and ethical investing by viewing their website article on this here: https://novowealth.com.au/what-is-responsible-or-ethical-investment/

To see the original post, follow this link: https://www.digitaljournal.com/pr/news/ampifire/novo-wealth-confirmed-growing-awareness-of-responsible-investing#ixzz86PrZqEBe


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Categories : corporate social responsibility, ESG, social responsibility

ESG: Exploring The Benefits and Challenges

3 07 2023

Photo: Causeartist.com

From causeartist.com • Reposted: July 3, 2023

ESG stands for environmental, social, and governance. It is a framework for evaluating how companies manage their environmental, social, and governance risks and opportunities. ESG investing is the practice of investing in companies that have good ESG performance.

Understanding ESG

ESG encompasses a broad range of factors that evaluate a company’s performance and its impact on society and the environment.

Environmental factors focus on a company’s ecological footprint, including its carbon emissions, resource consumption, and waste management practices.

Social factors assess a company’s treatment of employees, diversity and inclusion policies, community engagement, and supply chain practices.

Governance factors examine a company’s leadership, transparency, board structure, and adherence to ethical business practices.

ESG as a Catalyst for Sustainable Change

ESG considerations are no longer just a checkbox exercise but a catalyst for positive change. Increasingly, consumers, employees, and investors are demanding accountability and transparency from companies.

Businesses that prioritize these factors are better positioned to attract and retain customers, enhance their brand reputation, and foster innovation.

Moreover, integrating this thesis into investment strategies can potentially deliver long-term financial performance, manage risks, and align portfolios with the values of investors.

Driving Responsible Business Practices

ESG considerations compel businesses to adopt responsible practices that benefit society and the environment.

Companies are now integrating sustainability initiatives into their core operations, such as implementing energy-efficient practices, reducing waste, and prioritizing renewable energysources.

Furthermore, it encourages companies to uphold strong labor rights, ensure workplace safety, and promote diversity and inclusion.

These responsible practices not only benefit the communities in which companies operate but also improve employee morale and productivity.

Risk Management and Resilience

ESG factors play a crucial role in identifying and managing risks. By assessing a company’s environmental impact, for example, investors can better understand its exposure to climate change-related risks, such as physical risks (e.g., extreme weather events) and transition risks (e.g., policy changes and market shifts).

Similarly, social factors help identify risks associated with poor labor practices, supply chain disruptions, or reputational damage due to unethical behavior. Integrating ESG into risk management strategies enhances resilience and long-term viability.

Investing for Impact

ESG investing, also known as responsible or impact investing, has gained significant traction. Investors are increasingly allocating capital to companies that align with their values and exhibit strong ESG performance.

This approach allows investors to support businesses that prioritize sustainability, social responsibility, and effective governance while pursuing financial returns.

These focused investment products, such as ESG-themed funds and green bonds, provide opportunities for individuals and institutions to drive positive change through their investment decisions.

The global ESG investment market is expected to reach $53 trillion by 2025.

The Benefits of ESG Investing

There are many benefits to ESG investing, including:

  • Potential for higher returns: ESG-focused companies tend to be more resilient and have lower risks, which can lead to higher returns for investors.
  • Reduced risk: ESG investing can help to reduce risk by mitigating environmental, social, and governance risks.
  • Positive impact: ESG investing can help to create a more sustainable future by investing in companies that are committed to environmental and social responsibility.
  • More transparency: ESG-focused companies tend to be more transparent, which can give investors more confidence in their investments.

The Challenges of ESG Investing

There are also some challenges to ESG investing, including:

  • Lack of standardization: There is no single standard for ESG reporting, which can make it difficult to compare companies.
  • Cost: ESG investments can be more expensive than traditional investments.
  • Greenwashing: Some companies may engage in greenwashing, which is the practice of making false or misleading claims about their ESG performance.

FAQs

What does ESG stand for?

Environmental, Social, and Governance

What is ESG Investing?

ESG investing, also referred to as sustainable or responsible investing, is a strategy that incorporates environmental, social, and governance factors into investment decisions. It surpasses the boundaries of conventional financial analysis to assess how companies and investments influence the environment, society, and governance practices.

To see the original post, follow this link: https://causeartist.com/esg/


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Categories : corporate social responsibility, ESG, sustainable branding, sustainable brands

Can we ethically reduce the amount of plastic in our ocean by keeping it in our economy?

1 07 2023

Photo Credit: Ben Curtis/AP/Shutterstock

A guest blog on creating ethical and socially responsible supply chains by Emy Kane, managing director of Lonely Whale, and Michael Sadowski, executive director of The Circulate Initiative via Economidst Impact • Reposted:July 1, 2023

An estimated 140m tonnes of plastic have accumulated in the world’s oceans and rivers, with an additional 8m tonnes added each year. Without intervention, this figure is projected to more than triple by 2040, reaching 29m tonnes annually. We are at a critical juncture, and while the challenge ahead may seem daunting, there is enormous potential for corporate decision-makers to seize this global opportunity.

Companies have recognised the severity of plastic pollution and realise that more than 70% of their youngest customer demographic are willing to pay extra for sustainable products. What is now urgently needed to address this problem is collaboration across companies and sectors—to develop ocean-bound-plastic (OBP) supply chains, material-usage scenarios, product designs and socially responsible sourcing practices that help to mitigate pollution and secure the livelihoods of people throughout the value chain.

Embracing the spirit of radical collaboration

Collaboration is vital in developing commercially viable and socially responsible OBP supply chains, as demonstrated by the success of NextWave Plastics. Co-founded by Lonely Whale and Dell Technologies in 2017, NextWave created the first global network of OBP supply chains. At first, rapid impact was hindered by limited access to OBP material and fragmented industry understanding. Thanks in part to the consortium’s leadership, there is now a thriving market for OBP, and brands can readily find OBP material to use in their packaging and products. While there is much more to be done, knowledge-sharing within NextWave will help increase the use of OBP across global supply chains. 

Sharing insights is critical to ensuring the long-term sustainability of projects launched today and placing the human element at the centre of business decisions. As we celebrate five years of collaborative work with NextWave, we are increasing our impact under the new leadership of The Circulate Initiative. Together we will expand the diversity of insight around supply-chain maturation and hard-to-recycle plastics that collectively improves the lives of those across the OBP value chain. This global crisis is not just about plastic, but also people. 

Building a socially responsible supply chain

Plastic waste management and recycling rely heavily on the informal sector, with informal workers accounting for nearly 60% of plastic recycling globally. They often work in unsafe environments and are at risk of injury and illnesses. Improving the livelihoods of these individuals is essential to developing a robust recycling supply chain. The conditions that lead people to become waste workers can be complex and entwined with structural and systemic issues, especially poverty and gender inequality. Although working conditions can be hazardous, informal waste workers almost never benefit from regulatory protections or other employment-related benefits. As brands and companies make commitments to sustainability and the market for recycled plastic commodities continues to grow, informal waste workers must have a seat at the table. 

Understanding these complexities, NextWave members compiled their shared knowledge to create the Framework for Socially Responsible Ocean-Bound Plastic Supply Chains. This comprehensive framework, vetted by external advisors and partner organisations, defined a vital road map for brands and manufacturers to create circular supply chains that provide protections for all workers. Implementation of the framework aims to create supply chains that have both the infrastructure and support necessary to meet demand as well as align with globally approved social and environmental standards.

Securing a future with accountable practices 

Today, corporate leadership is leading the way for the future of business and our planet by securing social and environmental benefits for multiple stakeholders, including waste collectors, local communities and recyclers. However, sustained success requires collective action across sectors and competitors. As the United Nations and 175 member states deliberate on an internationally binding treaty on plastic pollution, there is no better time for companies to collaborate with other industry leaders to co-design a future that combats plastic pollution.

To see the original post, follow this link: https://impact.economist.com/ocean/sustainable-ocean-economy/can-we-ethically-reduce-the-amount-of-plastic-in-our-ocean-by-keeping-it-in


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Categories : corporate social responsibility, ESG, social responsibility, sustainable brands

How Fusing Purpose and Employee Experience Is Creating ‘Win-Wins’ for the Greater Good

1 07 2023

Photo: RNDE Photo Project

A positive company culture provides a foundation for an organization’s beliefs, values and business approach. But this can only be sustained by staying true to the company’s core values. By Christian Yonkers via Sustainable Brands • Reposted: July 1, 2023

British Columbia Lottery Corporation’s (BCLC) social-purpose integration has seen the company shift away from traditional industry models to utilize gambling to “generate win-wins for the greater good.” Integral to this mission is employee experience and the importance of catalyzing social purpose through company culture.

BCLC’s values (integrity, respect and community) reinforce the social purpose, which is the launching point for a positive culture — providing a foundation for building an organization’s beliefs, values and business approach. But this can only be sustained by staying true to the company’s core values.

“We’re trying to create win-wins for the greater good,” said Lisa Fuller, Director of People Development and Operations at BCLC. “But we can’t do that if we’re not holding ourselves accountable to our core values.”

But accountability takes time. That’s why BCLC is creating a common language around its values and how they translate into action. Aligning values and purpose provides a standard of behaviors, expectations and how people keep each other accountable. Company values, Fuller explained, create a common language for BCLC employees — influencing how they show up and how they interact with each other and the world.

Therefore, weaving social purpose into the fabric of employee experience is a foundational way to implement, scale and sustain BCLC’s values throughout the organization.

BCLC looked at the employee lifecycle as a blueprint for building social purpose throughout its verticals, starting with how talent is attracted to the company through hiring and onboarding, daily work, professional development, and offboarding and beyond. From this employee lifecycle, a journey map was created — revealing key areas throughout the employee experience that could help fulfill BCLC’s social purpose:

  • Social Purpose and Diversity, Inclusion and Belonging (DI&B) commitments included in job postings
  • Recruitment postings in non-traditional forums to target more diverse candidates
  • Social-purpose-related discussions included in the interview process and new employee orientation sessions
  • Social-purpose workshops delivered to BCLC employees
  • Integrating purpose into leadership and development programs

Deep employee investments and a sense of belonging are elemental to sustaining an organization’s social purpose. What’s more, engaged and happy employees are the best brand ambassadors — both on the job and off the clock.

“We want to make sure we are encouraging employee wellness,” Fuller said. “We’re always looking at what is available in our programs and how we can make that an opportunity to not only benefit our employees, but also really benefit the world and make it a better place.”

Leveraging people and culture to generate win-wins

From procurement to long-term planning, BCLC seeks to make every decision through a social-purpose lens. For example, pension plans adhere to the UN-backed Principles for Responsible Investment; and procurement policies ensure materials are obtained from responsible sources. BCLC recognized that embedding purpose into employee experience was pivotal to driving change through its business operations. Some of the key advancements in this area include:

  • An employee recognition program allowing employees to donate to select charities
  • A phased retirement program — giving team members the time to gradually transition out of employment, while effectively supporting succession planning
  • Expanded opportunities to support employee wellness, such as increased coverage for therapy and other psychological services

“It’s important for the organization to be very clear on asking, ‘Why are we here?’” Fuller explained. “[BCLC] is here to create an exceptional gambling experience while maintaining the health of our players and creating benefit for society.” To achieve this, we focused on embedding social purpose into the employee lifecycle — creating win-wins throughout the employee journey to create a culture rooted in our values.

“As a result, our employees are clear on our social purpose; they believe in it and know it’s the right thing to do.”

BCLC social-purpose accomplishments at a glance:

  • Focus on responsible gaming, including a successful player health program
  • Connecting employees to charities
  • Incorporating ESG into business operations, pension plans and Canadian Registered Retirement Savings Plans
  • Integrating purpose into procurement practices
  • Advertising recruitment activities in diverse communities
  • Accommodating varying employee needs — including phased retirement, benefits coverage and professional-development programs
  • Focusing on fair, equitable and transparent compensation practices

The fact that BCLC, a gambling corporation, can adopt and align its business model around a social purpose illustrates the power that organizations have in shaping culture — both internally and externally. People want to do business with companies that are aligned with their values, Fuller added. They also want to work at such companies, indicating another important benefit of being guided by a social purpose: Employee attraction and retention.

Organizational change requires both top-down and bottom-up approaches. But without sustained leadership buy-in, no amount of effort can embed social purpose into an organization. Without senior leadership commitment, it’s hard to expect buy-in and follow-through within the organization.

“Culture is one of those things that needs to be nurtured and fostered; and all leadership has a role in this,” Fuller said. “So, if we don’t live our values — if we don’t hold people accountable or set clear expectations — it’s hard to create a positive culture. Therefore, it’s very important for leadership to play a role in shaping culture.”

To see the original post, follow this link: https://sustainablebrands.com/read/organizational-change/fusing-purpose-employee-experience-win-wins-greater-good


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Categories : corporate social responsibility, ESG

Assent Launches End-to-End Solution for Manufacturers to Mitigate PFAS Risks Across Supply Chains

30 06 2023

Assent’s Solution enables manufacturers to meet imminent EPA “forever chemicals” reporting requirements and mitigate business continuity risk through supply chain engagement. From Assent via Business Wire • Reposted: June 30, 2023

OTTAWA, Ontario–(BUSINESS WIRE)–Assent Inc. (Assent), a leading solutions provider in supply chain sustainability management, is helping manufacturers gain visibility into per- and polyfluoroalkyl substances (PFAS) in their supply chain in a time of significant regulatory change and unprecedented supply chain and market access risk. Today’s launch of Assent’s new solution at the company’s annual Evolve conference will empower manufacturers with a technology-enabled roadmap for managing PFAS risk.

“PFAS regulations are driving an unparalleled risk for companies. Today, we announced a solution enabling manufacturers to immediately engage with their suppliers and address PFAS chemicals in their products — all the way down the part level”Tweet this

Manufacturers can immediately leverage the Assent Supply Chain Sustainability Platform to collect PFAS data insights from supplier networks and take corrective action to reduce or eliminate regulated PFAS from within parts, products or processes. Assent’s regulatory expertsmonitor substances and regulations to create up-to-date risk mitigation programs to comply as required by law while staying ahead of constantly evolving global PFAS liability risks.

This launch comes at a critical time for manufacturers as they prepare for the EPA’s proposed reporting and recordkeeping requirements for PFAS under the Toxic Substances Control Act (TSCA), expected to be finalized in 2023. Manufacturers are facing supply disruption and liability risks, and need a solution to avoid fines and litigation, protect market access, and address product obsolescence issues.

“The concerns and pressures around PFAS are real. There has been a shift from looking at things through the lens of compliance, to going beyond that with a proactive risk management strategy,” said Bill Pennington, Vice President of Research, EHS & Risk Management at Verdantix. “Organizations will need to embrace technologies in the market to navigate this new world, and ensure they are resilient to the risks associated with PFAS.”

PFAS are a large family of synthetic compounds commonly used in products and manufacturing processes, desired for the ability to provide water resistance or electrical insulation – characteristics which also prevent the chemicals from breaking down over time. With broad and expansive use since the 1940’s, 97% of Americans now test positive for PFAS in their bodies. Due to an association with serious health risks, governments in the U.S., EU, and around the world are implementing a greater number of controls and restrictions on these chemicals.

The U.S. EPA has an extensive roadmap to address the use of PFAS nationwide, leveraging numerous regulatory instruments such as CERCLA and the Safe Drinking Water Act. One significant new requirement is listed under TSCA Section 8(a)(7). Proposed in June 2021 with the final rule expected in this year, this regulation will obligate companies to report on nearly 1,400 PFAS chemicals, due 12 months after the final rule is published.

“PFAS regulations are driving an unparalleled risk for companies. Today, we announced a solution enabling manufacturers to immediately engage with their suppliers and address PFAS chemicals in their products — all the way down the part level,” said Andrew Waitman, Assent CEO. “The complexity and urgency in the regulatory environment will only increase, and that’s why manufacturers need to act now. Assent will be in lockstep with the urgency of the market so we can deliver the transparency and accountability our customers demand from their supply chains.”

The new solution allows manufacturers to gather extensive supplier data on PFAS substances present in parts and products and align this data with TSCA requirements and other state regulations, including detailed reporting by supplier, content, and regulation.

“Portage Electric Products Inc. (PEPI®) strives to achieve deep sustainability throughout our supply chains and ensure our customers have access to compliance data to reduce operational and product risk. We are committed to ongoing due diligence in our activities, upholding the highest standard of transparency and compliance with regulatory requirements in our operations,” said Assent solution client Ted Monty, Vice President, BSO, Product Engineering and Regulatory Product Compliance at Portage Electric Products. “It is imperative for our company, our supply chain, and our customers to be aware that PFAS are currently in our environment. We recognize the importance of not adding to current levels, and working together with current product compliance regulations to eliminate future concerns, and ensure environments remain sustainable for many generations to come.”

For more information about Assent’s new PFAS solution or to request a demo, please visit: https://www.assent.com/solutions/product-compliance/pfas

To see the original post, follow this link: https://www.businesswire.com/news/home/20230614808783/en/Assent-Launches-End-to-End-Solution-for-Manufacturers-to-Mitigate-PFAS-Risks-Across-Supply-Chains


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Categories : corporate social responsibility, ESG

The circular economy: How marketing teams can help broaden its adoption

30 06 2023

Image: Fast Company

Marketing has a pivotal role to play in driving the significant change required to shift from a linear to a circular economy. By Marie Hattar via Fast Company • Reposted: June 30, 2023

Corporate social responsibility has long been viewed as a unifying organizational principle. These initiatives have successfully helped companies improve their impact on society, local communities, and the environment. However, the magnitude of climate-related problems is pushing environmental concerns to the forefront, with the principles of a circular economy gaining visibility as we understand the need to change how we produce and consume products.

The circular economy is a broad-reaching product lifecycle approach in the CSR space that reflects systemic change rather than a series of initiatives to achieve social, economic, and environmental sustainability. This means creating products that are more durable, reusable, repairable, and recyclable so they remain in circulation as long as possible. In addition, it requires a cultural shift to end the practice of make, buy, and throw away.

CIRCULAR ECONOMY 101

Driven by design, the circular economy involves eliminating waste and pollution, keeping products and materials circulating, and regenerating natural systems. This means designing for long-lasting use, then extending the product life by sharing, leasing, reusing, repairing, and refurbishing, ultimately ending with product and component recycling. This represents a shift in how we produce and consume goods and services.

And if the circular economy gains more traction, it can help slow the pace of rising temperatures. Global adoption remains slow, with less than 9% of economic systems embracing circularity. In addition to the sustainability benefits, there are other business advantages, including creating new revenue streams, cost savings, and reputational gains. By moving to a circular model, organizations can build a more sustainable and profitable entity, helping create a more resilient and responsible future.

Marketing plays a pivotal role in helping push circular economy approaches forward. Brands should champion the principles of less raw material and waste, resulting in fewer emissions. This can help fundamentally change how to promote and position products, and the focus should be on demonstrating evidence of living the values.

So, how can marketing teams help broaden the adoption of the circular economy? Below are some fundamentals to focus on.

PRODUCT REUSE

Patagonia is a prime example of a consumer brand that has long advocated for a more sustainable approach, as reflected by its Worn Wear initiative launched in 2013. The program aims to reduce the environmental impact of Patagonia’s products and ensure that its gear and clothing remain in circulation as long as possible by offering repairs by expert technicians. In addition, it has long demonstrated its commitment to recycling materials in its product range.

Every company, irrespective of industry or target persona, can follow Patagonia’s lead and adopt key principles of the circular economy. By promoting circular attributes of products, brands can differentiate and appeal to customers searching for more sustainable options.

For example, the Keysight Trade-In Program promotes and rewards technology refreshes for customers by offering compelling credits. This trade-in initiative helps keep electronic waste out of landfills, reduces the need for new products, and reuses existing equipment. This program has been highly successful, with 80% of the returned products resold and the remaining 20% recycled. The program is a vital part of our commitment to sustainability, repurposing, and reuse.

TRANSPARENCY = TRUST

Marketing teams should be clear on exactly how their products support the circular economy. Building trust with your audience requires disclosing critical information, including the product’s carbon footprint, reusability, and recyclability. Through campaigns, advertisements, and branding, marketing can show the entire life cycle, highlighting aspects such as designing for circularity, material sourcing, production, usage, and end-of-life management.

SHARING AND SERVICE 

The sharing economy is another crucial piece of circularity, as it promotes allocating resources with multiple groups rather than a single entity helping maximize the usage. It can also uncover new revenue streams such as ride-sharing, coworking, peer-to-peer lending, and cloud solutions.

DIGITAL ACCELERATOR

Digital technologies like big data, IoT, and AI can help marketers optimize the circularity of products and materials and create more personalized and efficient experiences. At Keysight, our digital twin technologies allow organizations to evaluate new product designs. The virtual model ensures the solution is fit for purpose before building anything, supporting a more sustainable and efficient way to design and build products.

COST BENEFITS

There are many financial benefits from using recycled materials, minimizing waste, and extending the life of products. In addition, with governments increasingly introducing environmental regulations, organizations can ensure compliance by adopting circularity.

THE FUTURE IS CIRCULAR

Marketing has a pivotal role to play in driving the significant change required to shift from a linear to a circular economy. From demand creation for sustainable products and services to promoting the shift towards a more circular way of doing business, I believe CMOs must champion the cause. As teams embrace circularity, it’s vital to remember that the long-term benefits for the organization and the world far outweigh any short-term difficulty experienced.

And for anyone thinking about ignoring the circular economy, I will remind you of the wise words of Robert Swan: “The greatest threat to our planet is the belief that someone else will save it.”

Marie Hattar is CMO at Keysight Technologies, responsible for brand and global marketing efforts.

To see the original post, follow this link: https://www.fastcompany.com/90914456/the-circular-economy-how-marketing-teams-can-help-broaden-its-adoption


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Categories : Climate Change, corporate social responsibility, ESG, responsible brands, sustainable branding

Renewable Energy Investing Gathers Steam as Anti-ESG Movement Falters

29 06 2023

Image credit: Kervin Edward Lara/Pexels

By Tina Casey from Triple Pundit • Reposted: June 29, 2023

The renewable energy trend crossed partisan boundaries decades ago when red and blue states alike partook in the hydropower boom of the mid-20th century. More recently, some state officials have tried to push the clean power genie back in the bottle by ginning up action against ESG (environmental, social and governance) investing. They have achieved some success, but investors just can’t resist the opportunities offered by new clean technologies.

The anti-ESG movement is mostly hot air

In a new report, the consulting firm Pleiades Strategy tracked 165 bills introduced by Republican lawmakers across 37 states, all aimed at steering government pension fund managers and contracting agencies away from ESG principles. Since the “E” in ESG leans heavily on renewable energy, the main thrust of the legislation is to protect fossil energy stakeholders.

Last week, Pleiades reported that the legislative push has met with significant pushback. “This coordinated legislative effort, commonly referred to as the anti-ESG movement, generated massive backlash from the business community, labor leaders, retirees, and even Republican politicians,” a new report from the firm reads.

Among the 165 bills it identified, only 21 became law. Many were substantively amended to satisfy objections. “Broad escape clauses were added to limit the most draconian prohibitions, which experts have warned legally contravene the basic tenets of fiduciary duty, creating a ‘liability trap,’” the report reads. 

Renewable energy is not a new “woke” craze

The Republican-dominated state of South Dakota provides a living example of the extent to which anti-ESG office holders are out of step with business leaders.

Anti-ESG rhetoric is larded with scary talk that warns of a new “woke” threat taking over the country. But there is nothing new about renewable energy in the U.S., and South Dakota is a case in point.

In March, South Dakota Gov. Kristi Noem signed an open letter with 18 other Republican governors, warning that the “proliferation of ESG throughout America is a direct threat” that puts “investment decisions in the hands of the woke mob.”

Nevertheless, South Dakota continues to benefit from the 20th-century hydroelectric program. The U.S. Energy Information Agency (EIA) notes that 3 of the 4 biggest power plants in South Dakota are hydropower facilities that were built more than 60 years ago.

South Dakota’s agriculture industry has also benefited from longstanding federal policies going back to the Energy Policy Act of 1978. South Dakota is currently the fifth-largest producer of bio-ethanol among the 50 states, all from corn.

In addition, South Dakota grabbed onto the wind energy coattails fashioned by Iowa and Texas legislators in the 1990s and early 2000s. Wind contributed more than 50 percent to South Dakota’s grid in 2021, with hydropower coming in second, according to the EIA. Coal and natural gas each contributed less than a tenth. 

More wind power for South Dakota

Activity in the South Dakota solar industry has also begun to stir. But much attention remains focused on wind resources, including tribal lands. “Four of the nation’s top five reservations with the greatest wind-powered electricity generation potential are in South Dakota,” the EIA observes.

Transmission bottlenecks have been a roadblock to wind development in South Dakota, as in other states. Back in 2012, several South Dakota Sioux tribes organized to overcome the obstacles by forming the Oceti Sakowin Power Authority — which holds an estimated 60 gigawatts of potential wind capacity on tribal lands. Pending resolution of the transmission bottleneck, an initial tranche of projects is in the planning stages.

Diversification in the renewable energy field

New clean power technologies are also popping up in South Dakota. Much of that activity is focused on renewable natural gas (RNG), sourced from the state’s copious production of livestock manure.

At the start of the year, the Pennsylvania-based holding company UGI Corp. announced an investment of $150 million for two new RNG clusters in South Dakota, drawing from multiple dairy farms. The two projects add to a third cluster previously announced, with an investment of $70 million.

The Michigan company DTE Vantage also opened a massive RNG facility in South Dakota last summer. Another RNG company with a hand in the state is the global firm Biogest — which claims “RNG is the only renewable energy source that can be carbon-negative, as it significantly reduces methane emissions from agricultural operations.”

ESG or not, new green fuel industries are growing

Sustainable aviation fuel is another new industry establishing a footprint in South Dakota. In 2021, the biofuel firm Gevo began laying plans for an aviation biofuel plant that leverages the state’s corn growers as well as its wind industry.

The Gevo facility broke ground last fall. It includes a green hydrogen system, representing still another potential new industry. With an ample supply of both renewable energy and water, South Dakota has all the basic ingredients for a green hydrogen industry that could lead to follow-on opportunities in green ammonia and e-fuels production.

South Dakota businesses want renewable energy

The Joe Biden administration issued a fact sheet last March that drew attention to supportive relationships between renewable energy producers and other businesses in South Dakota. The White House took note of the meat producer Kingsbury and Associates, which is investing in a new $1.1 billion processing facility in Rapid City. Kingsbury says the new plant will rely on renewable energy, including captured biomethane, to achieve bottom-line results in a competitive environment.

Another indicator comes from the solar developer GenPro Energy Solutions. In May, the company received equity growth funding from the in-state financial firm South Dakota Equity Partners and an established South Dakota investor. The partners launched a new GenPro branch that aims to “open doors to South Dakota and other regional energy providers desiring to develop utility-scale solar projects while embracing South Dakota values,” according to GenPro.

Against this backdrop, last week the Washington Post took notice when an unnamed lobbyist for the Greater Sioux Falls Chamber of Commerce “scolded the supporters of anti-ESG legislation.”

Speaking of “woke,” all of this should be a wake-up call for anti-ESG candidates. It may be too late to make a course correction in time for the all-important 2024 election cycle, but 2028 is right around the corner.     

To see the original post, follow this link: https://www.triplepundit.com/story/2023/renewable-energy-south-dakota-anti-esg/777691


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Categories : corporate social responsibility, ESG, green marketing, reputation management, responsible brands

Cannes Lions Was a Climate Kindergarten; Time to Mature the Conversation

29 06 2023

IMAGE: SOLAR IMPULSE FOUNDATION

This year’s awards recognized a historic number of climate-related campaigns; but as an industry, we continue to talk in circles. By Tom Kolster from Sustainable Brands • Reposted: June 29, 2023

You can’t ignore the world’s biggest advertising festival, Cannes Lions, and its impact. Yet talking about sustainability at an advertising festival as grand as Cannes can still feel like pitching peace at a weapons conference.

Marcel Marcondes, global CMO of AB InBev, opened the festival – he did so, because AB InBev is the first brand in the festival’s history was named Advertiser of the Year for the second year in a row for its successful and effective way of driving growth. He reminded us that, while everyone can make mistakes, his role is to utilize creativity and his partner agencies’ creativity to drive that growth.

The big question is: Can the advertising industry ever grow responsibly? The urgent call for climate action launched ahead of Cannes Lions this year stayed mostly unanswered across both the programming and the conversations. DEI was strongly represented, as it has been for many years — and it is supported by a Glass Lion; yet, climate still doesn’t have an award or even a focused track at the festival. This is a disappointment, as our industry lacks education — as is evident on the reemerged focus on greenwashing. For me, it’s like going back a decade, when greenwashing was first a concern. It’s incredibly sad to see that we keep talking about the same things instead of exploring the tougher topics.

There’s a push to turn sustainability and climate into a black and white topic. It’s the industry’s own fault, with its counterproductive focus on corporate activism — which, for the most part, is virtue signaling. The way forward is to be found in the nuances within the topic of sustainability — and that’s what we need to discuss at Cannes. It should be a meeting of peers, where we’re not afraid to discuss and where we acknowledge it’s ok to disagree. We need honest climate conversations — not yet another sales pitch from a brand that went from talking about the greatest mayonnaise in the world to how great it is at saving the world.

Standout climate-related creative

As big a disappointment as Cannes Lions was across programming and the lack of focus on climate, it’s the first time in its history that we’ve seen that many Grand Prixes and Golds focused on climate. My top pick would be the campaign by theUnited Nations Global Compact’s Brazilian arm that turned Earth into a company, EART4, and took it public on the stock exchange. The work shines a light on the importance of putting a value on our planetary dependency — and how climate change is creating real economic havoc around the world.

It was also great to see the challenges transforming the Global South being tackled in a second Grand Prix. As rising sea levels due to climate change threaten its physical territory, the island country of Tuvalu has been forced to become the “world’s first digital nation.”

The Solar Impulse Foundation, founded by explorer and environmentalist Bertrand Piccard, launched an exciting legislative push in France — “Prêt à Voter” (“ready to vote”). It’s 50 law proposals shared with elected French MPs to help accelerate current regulations for the climate transition; already, three of them have been adopted. Creativity does work!

I also want to share one low-tech idea: Life-Extending Stickers — clever produce stickers created by South African retailer Makro that can help consumers stop wasting fresh fruit and vegetables by educating them on how to use different items at different stages of ripeness. The sticker’s gradient matches the ripeness color of various fruits and vegetables. Along the wheel, text shows you the best way to cook it at each color: Bananas, for example, smoothly transition from green (fry it) to yellow (ice cream) to slightly brown (tempura) to brown (“cupcake”).

Lights, camera, climate action?

There are two types of brands in Cannes. Those that stick to their strategy and despite economic uncertainty push forward on sustainability. And then there are those that think short term and abandon the ‘green’ ship (it’s like pissing in your pants — it will stink at some point).

Let’s embrace failure. I’m not perfect (admittedly, I sometimes unintentionally help companies that greenwash; but on a good day, I believe I’m leaving an impact) and our industry is far from perfect (it’s still an oxymoron to talk about sustainability and advertising). Yet let’s embrace creativity and put marketing and advertising as the lead horse behind responsible and, hopefully one day, sustainable or even regenerative growth. Our climate-changing world is just waiting for us to answer.

To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/cannes-lions-was-a-climate-kindergarten-time-to-mature-the-conversation


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7 Ways to Create Buzz Around Your Sustainability Work (No Greenwashing Required)

28 06 2023

Now’s the time to take all that effort and integrate it into fun engagement opportunities for both your workforce and your brand’s biggest fans. Here are our seven favorite ideas for doing just that. From Barkley via Sustainablebrands.com • Reposted: June 28, 2023

Say you just received your B Corp certification or published your annual sustainability report — congrats! So much work; such important initiatives, goals and commitments — all of which deserve both applause and audience.

But brace yourself: Your work’s not done — we’re trying to change the world, after all — but the next steps don’t have to be so laborious. Now’s the time to take all that effort and integrate it into fun engagement opportunities for both your workforce and your brand’s biggest fans.

Here are our seven favorite ideas for doing just that, collected through years of promoting and publicizing both our B Corp certification and annual impact reports and those of our clients. Steal wildly; get credit for all you’re doing!

1. Timing is everything.

Pick an intentional launch date for your report that is relevant to your brand. We launched our latest Impact Report on June 1 — coinciding with our annual company-wide volunteer day, Goodworks. We’ve also shared it during an annual creativity festival, where it was received with a theater full of enthusiasm.

Think: What events, occasions or holidays are meaningful to your organization and thematically align with the goals and initiatives you feature in your sustainability report?

2. Win inside to win outside.

Every day, we find new ways to express the importance of operating as a responsible, sustainable, certified B Corporation — but we can’t do it without our employees. That’s why we tap them to star in content we create for presentations, speeches, speaker booths and on social media throughout the year. And we regularly ideate and share tips and tricks to both live and work sustainably: We like to create what we call one-sheeters — a single page of ideas to print on recycled paper (we posted ours in the restrooms!) or display on digital screens — to help employees keep sustainability goals top of mind. Composting at the office increased three-fold with proper signage.

Think: How can you celebrate your wins with your employees to inspire them and share tangible ways they can see themselves in the sustainability work that needs to be done throughout the year? Your people make your progress possible.

3. Lean into your brand’s beloved rituals or icons.

Our company HQ features a retired TWA rocket on the rooftop; so our employees lovingly call themselves ‘rocket people’ — which means yes, astronaut mascots frequently appear at various events throughout the year. This ritual inspired the creative imagery for the reports, social content and print materials we used to announce our B Corp certification to the world. Iconic imagery makes for inspired social sharing from your brand’s true believers.

Think: What rituals, icons or imagery has significant meaning to your employees and brand identity; and how can you use it within both your report (next year) and how you promote it?

4. Bring on the (sustainable) swag.

We think through our impact on our communities through every action we take — from supporting our client’s production needs down to our preferred caterers. And we love opportunities to support local, women-owned and minority-owned businesses. So, when it came time to celebrate our B Corp certification, we sent our employees a box of goodies and Barkley-branded merch to celebrate, sourced from diverse suppliers and fellow B Corp brands: confetti seeds; a reusable tote with the iconic astronaut photo; a copy of our book, The Purpose Advantage; and a bento box for to-go lunches on office days. Thematically on point; extra points for usability.

Think: Can you include your employees on what type of swag they’d be proud to use, wear or celebrate — or even give them a chance to opt out to save waste if they aren’t interested? Then, can you intentionally source these items from diverse, local, minority-owned or B Corp-certified vendors?

5. Share the love and add a hashtag.

At Barkley, our mission is to #addgood to everything we do — a mantra we’ve used so much over the years, we created a hashtag our partners know to use any time client work, a volunteer effort, shareable ideas and especially our sustainability work is mentioned on social media. One of our favorite ways #addgood comes to life? A content series we call “People of Barkley” — a showcase of the diverse perspectives and creative talent who animate our brand. Encourage your employees to use it when speaking about their contributions, and pulling content to include in next year’s report will be easier, too.

Think: How can you encourage your employees to share and promote the good work your brand is doing in a way that feels authentic to both them and your brand?

6. Turn metrics into gratitude + awareness opportunities.

Every year, we feature in our report external partners, clients, vendors, suppliers and other stakeholders that help us achieve our sustainability goals — hopefully, you do, too! We also reach out to these stakeholders post-launch to personally thank them for helping us reach our goals and sharing future plans and expectations for our ongoing partnerships.

Think: How can you mine your ESG metrics and trace them back to individuals and organizations critical to your progress? Then, what type of personalized gesture can you create to share your gratitude and encourage continued collaboration?

7. Start now to build next year’s report.

Once our report is out in the world, we debrief to level-set and re-align on the work ahead. This allows us to analyze what worked, what was hard and where we can improve for next year. A huge discovery for us was realizing that collecting stories, testimonials, case studies, photographs and video year-round makes the following year’s report compilation that much easier — and adds flair and personality to the report itself.

Think: Can you hire or assign an employee resource group to capture and cover events and opportunities that can not only feed next year’s report in terms of stories and content, but can also add value, recognition and encouragement to employees doing this work throughout the year? Are there existing communication channels inside or outside of your organization — like your company’s intranet or LinkedIn — from which you can mine stories for your report year-round?

From employees and external stakeholders to your brand’s biggest fans, the people who believe in your brand are your most valuable resource and a competitive advantage for your business. Intentionally investing in ways to encourage their belief and involvement in your sustainability strategy is key to maximizing momentum toward your goals — and that’s a win-win for everyone.

Sponsored Content / This article is sponsored by Barkley. This article, produced in cooperation with the Sustainable Brands editorial team, has been paid for by one of Sustainable Brands sponsors.

To see the original post, follow this link: https://sustainablebrands.com/read/organizational-change/7-ways-create-buzz-around-sustainability-work-no-greenwashing-required


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Categories : Climate Change, corporate social responsibility, ESG, reputation management, responsible brands

Brands Are Silent on Surging Police Violence. Were They Ever Loud?

27 06 2023

 Image credit: Jacob Morch/Unsplash

By Patrick McCarthy from Triple Pundit • Reposted: June 27, 2023

The common narrative of 2020 — and perhaps our collective memory of that tumultuous summer — is that corporations delved neck-deep into conversations of police brutality and a culture of excessive force. But for all the lofty words, the condemnations of violence and commitments to change, most corporations have quietly shifted back to their standard messaging and practices, even as police violence increased.

An estimated 1,096 people were shot and killed by police in 2022, an increase from 1,019 people in 2020, according to real-time tracking from the Washington Post.
 U.S. police have shot and killed 436 people since the start of the year, according to the database.

Last year marked the highest number of police killings since the paper started keeping track in 2015, with a disproportionate number involving Black Americans. So, what prompted large corporations to go quiet on police reform? Are consumers just not applying the same pressure?

Why have brands grown silent on police violence? Thinking back to what they really said

For starters, a brand can’t become silent on an issue it never explicitly addressed. Most companies that issued statements regarding civil unrest in the summer of 2020 did not address police brutality at all, observed Diane Primo, CEO of the Purpose Brand agency.

“When you actually go back and look really carefully, you don’t find many brands actually using the words ‘police brutality’ or ‘abuse of police power,’” Primo said. “They are purposefully choosing to stay away from those words specifically.”

Corporations flooded the internet with press releases and statements from CEOs weighing in on a violent police culture in need of reform — though most stopped short of explicitly condemning police brutality or police violence.

“This is a really important insight,” Primo said. “Brands give the impression that they talked about police brutality when, in fact, their focus is really on the larger issues in the community. They are focused on the end game, being that Black lives really do matter. If they matter, brands must take responsibility and help address the root cause by providing opportunities that ensure equal education, employment and economic mobility. The brands let the protests represent these issues, while they moved toward action and commitment to the community.”

Though most brands didn’t comment on police violence and brutality, their actions weren’t necessarily performative, nor their statements vapid, Primo said. By and large, corporations focused on issues they could directly control. Some brands focused on increasing their own internal representation in terms of diversity and inclusion, as well as making fresh commitments toward supplier diversity initiatives. Many banks and financial institutions made substantial investments to support community development and promote financial mobility in areas lacking both. 

For example, in June 2020, Bank of America announced a $1 billion commitment to health, housing and job training initiatives in historically underserved communities, with a special focus on addressing “economic and racial inequality accelerated by a global pandemic.” Likewise, in 2020 PepsiCo created its Racial Equality Journey (REJ) Initiative, pledging to invest more than $570 million over five years to increase Black and Hispanic representation at the company, while working to dismantle systemic barriers in Black and Hispanic American communities.

Though these investments were in direct response to the Black Lives Matter movement, the vast majority of these funds were not invested in the official Black Lives Matter organization or local Black Lives Matter chapters. Companies like Apple, Walmart and Comcast made similar investments to racial justice and community development, and immediately faced calls for boycotts from their conservative consumers. In response, some brands issued statements emphasizing that they had not donated to the Black Lives Matter organization, but rather invested in causes that support Black communities. While PepsiCo also hit back at false accusations from Fox News that it had donated directly to the organization, Gatorade (a PepsiCo brand) eventually did just that.

Outliers: Brands that spoke up early 

Some exceptions included statements from companies like Ben and Jerry’s and Dell that denounced police violence specifically. 

Ben & Jerry’s issued what some experts called the strongest and most substantive statement in response to the murder of George Floyd, denouncing white supremacy and demanding broad reforms to address the legacy of slavery and reign in law enforcement. 

Michael Dell, CEO of Dell Technologies, similarly focused on the undeniable connections between America’s legacy of slavery and its history of brutally policing Black communities. “From the devastating and disproportionate impacts of COVID-19 to the devastating impacts of police brutality, the long-standing racial injustice in America that began 400 years ago is impossible to ignore,” Dell wrote in a letter shared within the company and later on LinkedIn.


In 2020, protesters were able to pressure corporations to acknowledge the ubiquitous racial injustice that defined the segregation of U.S. communities and the disparate policing of American citizens. Police violence is the core issue that dragged brands into the conversation, whether or not they explicitly addressed it. Yet police violence has increased in the years since these corporations donated billions of dollars to support “community development.” 

To see the original post, follow this link: https://www.triplepundit.com/story/2023/brands-silent-police-violence/777546


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Goodee: Meet the Brothers Behind One of the World’s Leading Ethical Online Marketplaces for Housewares

27 06 2023

PHOTO: CELIA SPENDARD-KO

BY MELISSA GIRIMONTE FROM HGTV/CANADA • REPOSTED: JUNE 27, 2023

Goodee is one of the world’s leading curated marketplaces that offers housewares and lifestyle products centred around responsible brands, artisans and items for consumers who want to make a difference with each purchase. Founded in 2017 by Montreal’s Byron and Dexter Peart – the twin brothers, designers and entrepreneurs behind the brand WANT Les Essentiels – their aim was to launch and develop brands that provided “sustainable solutions for modern living.” Goodee has gone on to become a global online platform that combines “good design, good people and good purpose,” with an assortment of products from creators across the globe.

“We’re serial entrepreneurs,” Dexter Peart told us during a recent conversation. “It courses through our veins, and we saw an opportunity. Byron and I have always been proponents of trying to bring deeper, more thoughtful and more considerate stories about things that you may need in your life, and that you really want.” He goes on to say it’s about wanting less and prioritizing the quality of what you do own. “We thought that there were other people out there who wanted to have a deeper connection to the products and the stories around the products that they were bringing into their lives, but we couldn’t find [a platform]. So we decided to build it.”

Design is at the Heart of Goodee

“In our heads, we were going to tell this story about really great people and the impact that they’re making,” said Dexter. He continued, “Ironically, for two design guys, the thing that came at the end was the design. It was almost like we didn’t think about the power of design. We understood the power of human connection and impact, but we didn’t fully appreciate that the design was really the story until before we launched.”

Design became the heart of Goodee and the foundation on which their marketplace was built. Dexter described their approach: “If you put design at the centre of this entire conversation, then the conversation doesn’t live as only an environmental or social conversation. It becomes inspirational through the design, quality, craftsmanship and preservation of craft. But then it also becomes aspirational, because it’s building on the future. It helps us think about how design moves us forward.”

The Beauty of Upcycling

We live in a culture where household items are built to break and be replaced, encouraging consumers to buy even more. When a marketplace like Goodee comes along, it not only provides quality products that are durable and aesthetically pleasing but they’re also made by creators who design with intention. Upcycling and repurposing is a big part of this, like one of Dexter’s favourite brands on the site, ecoBirdy. The best-selling line of furniture takes old children’s toys, separates them by colour, and upcycles them into gorgeous chairs and tables for kids. Dexter had an anecdote about the brand and how it instills this idea of circularity from a young age:

“I’ve got two young girls, now 13 and 10, but when they were a bit younger and they had their ecoBirdy (pieces), I didn’t have to tell them about the concept of circularity; they were living it day to day through design. They were looking at products and understood that these products were something in the past and that they’re going to be something else in the future,” Dexter illustrated. “Design has a really exciting power to be able to translate how hard it is to think about environmental and social impact, and make it easier for people through the things that surround them because there’s beauty in those things. Ultimately, these are the things that we want to last, to carry with us when we move. We’re not going to throw them out because we know there’s a human story, or an environmental story or a design story that lives alongside those products.”

Outdoor Connection

Dexter reminded us that home decor isn’t just about interior spaces. “A lot of our customers have a connection to nature, the outdoors and biophilia. It’s not lost on us that post-pandemic, some of these rituals and ideas of being outside have become more pronounced,” he shared. “We see that when people think about spaces, they’re not just thinking about their internal space. They’re thinking about all of these spaces around them, and when they’re treating their outdoor spaces, they’re just as interested in trying to add a level of personality as they are to their indoor spaces.” He added, “What we try to do is build this level of fluidity, for instance, the Bergs Potter planters that can go out and then come back in as the seasons change. It’s been exciting to think about outdoor [products] in general, because it feels quite natural to the brand. There’s a level of Canadiana in Goodee where the outdoors is always speaking to us.”

The goal for Goodee is to create outdoor tools that are just as aesthetically pleasing as they are functional, so they can be left out for display rather than stowed away in a shed. “People are more immersed in their gardening, and they want tools that are going to be part of that ritual,” Dexter told us.

What’s Next for Goodee?

“One of the things that we found throughout the past couple of years is that businesses have been coming to us as well,” Dexter explained. “Some of the most amazing companies want to work with Goodee. Architects and designers are reaching out to us. Office companies are also reaching out because they’re refitting their office spaces to feel more like home, and the values of the office need to reflect what the people who work there believe in.”

Currently, Goodee has a partnership with Steelcase, the largest office furniture company in the world, to help with decor and stylization, adding thoughtful touches that make the entire office environment more welcoming. “It’s been really exciting for us as we move forward,” said Dexter.

Ultimately, Goodee aims to support consumers as they seek out products that have a positive social and environmental impact. Dexter left us with this final thought: “Byron and I launched this company thinking about the end consumer. The customer wants to make a better choice, but doesn’t really know how to do that, so what if we can create a destination to help them make that choice?”

This interview has been edited and condensed.

To see the original post, follow this link: https://www.hgtv.ca/goodee-profile-housewares-platform/

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Categories : corporate social responsibility, ESG, green marketing

Innovative fashion brands rise to the GFA Designer Challenge to create more responsible products

27 06 2023

The GFA Designer Challenges featuring Puma and Collina Strada will be showcased in an interactive exhibition at the Global Fashion Summit: Copenhagen Edition on 27-28 June. Credit: Global Fashion Agenda

From the Global Fashion Summit • Reposted: June 27, 2023

On the eve of Global Fashion Summit, Global Fashion Agenda (GFA) has unveiled global fashion brands PUMA and Collina Strada’s responses to the GFA Designer Challenge 2023. The GFA Designer Challenge, presented by Smiley, is an initiative following exceptional Creative Directors and their sustainable design processes from original idea to final product: matching style and ingenuity with supercharged solutions. Two captivating new videos depicting the journeys of designers from PUMA and Collina Strada have been released today.

Less than one per cent of textile waste is recycled into new fibres suitable for the fashion industry, representing a loss of more than USD 100 billion worth of materials each year1. The bulk of textile waste is disposed of in landfills, downcycled or incinerated. Heiko Desens, Global Creative Director of PUMA, partnered with Nicole McLaughlin, to creatively find solutions to the challenge of reducing waste from the supply chain through upcycling material cut-offs. The challenge ‘Sweep the Factory Floor’ spans McLaughlin’s New York Studio and the PUMA headquarters in Bayern, Germany to show the creatives at work.

Meanwhile, Hillary Taymour, Creative Director of Collina Strada created an alliance with CIRCULOSE® of the award-winning textile recycling company, Renewcell, which offers a new material made by recycling cotton from worn-out clothes and production waste. With at least two-thirds of a brand’s environmental footprint attributed to its choice of raw materials, fabrics such as CIRCULOSE® offer an alternative to high-impact virgin fossil-fuel-based materials. The material was produced by the fabric mill Beste. The video ‘Reimagining the Use of Materials for Bags’ follows Hillary Taymour in New York as she tackles the challenge surrounding materials, bringing in solution-led insights from the CIRCULOSE® team in Sundsvall, Sweden. Taymour uses the innovative material to reimagine a handbag with vibrant prints and colours that would not have been achievable with leather.

This year’s designer challenge is presented by Smiley – the company behind the Smiley brand and the Future Positive Creative Fund which is designed to support and mentor game-changing designers in their creative journey. GFA and Smiley share intentions to drive positive impact through fostering and supporting creative talent.

The GFA Designer Challenges with PUMA and Collina Strada will be showcased at the leading forum of sustainability in fashion, Global Fashion Summit: Copenhagen Edition on 27-28 June in an interactive showcase. Continuing the impact of the GFA Designer Challenge, a third film that follows Julius Juul, Global Creative Director of Scandinavian brand HELIOT EMILTM, will also be released in September 2023.

Federica Marchionni, CEO, Global Fashion Agenda, says: “With the environmental impact of a garment largely determined in its design phase, design decisions have the power to significantly influence resource use, purchasing and usage behaviour. Our GFA Designer Challenge is therefore intended to fuse talented creatives with promising innovations and we are honored to have the support of key partners to make this year’s challenge even more impactful.”

Nicolas Loufrani, Chief Engagement Officer, Smiley, says: “As a licensed brand, we have to find creative ways to engage with our stakeholders and get their support to join our Future Positive initiative. The designer challenge is perfectly in line with our objectives and values, it resonates with the creative leaders we partner with and I was super excited when the team at global fashion agenda proposed us to be part of the project.”

Heiko Desens, Global Creative Director of PUMA Group, says: “Taking part in the GFA designer challenge is a great platform to share our concept ‘sweep the factory floor’ and to receive honest feedback. Most importantly, it’s an opportunity to inspire others to be bold in finding solutions to waste. We’ve found this challenge to be unpredictable, yet invigorating, resulting in unique designs.  At PUMA we are constantly striving to do better through collaboration, which is key to pushing the boundaries with innovation. We’re excited to build on what we’ve started with Nicole McLaughlin and look forward to sharing the journey. There’s only one forever, let’s make it better.”

Nicole McLaughlin says: “The designer challenge is important to push the limits of design and share the hardships in a transparent way. There are struggles and challenges, but we learn, apply, and do it better.”

Hillary Taymour, Creative Director of Collina Strada, says: “Through sustainable fashion, we piece together a world where beauty meets responsibility. Each product becomes a testament to our commitment to create a better future for generations to come. I am excited to team up with the GFA to work on such a special project.”

Watch the collaboration between PUMA and Nicole McLaughlin here and Collina Strada and CIRCULOSE® here.

  1. Global Fashion Agenda (2021). Scaling Circularity.
  2. Global Fashion Agenda and Boston Consulting Group (2017). Pulse of the Fashion Industry

To see the original post, follow this link: https://www.prnewswire.com/news-releases/innovative-fashion-brands-rise-to-the-gfa-designer-challenge-to-create-more-responsible-products-301862850.html


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This New Spin on Decades-Old Technology Can Eliminate PFAS from Wastewater

26 06 2023

The team at North Carolina-based 374Water show off their prized invention. The container behind them may not look like much, but it can eliminate PFAS from up to 1 million gallons of wastewater per day. Image: 374Water

By Phil Covington from Triple Pundit • Reposted: June 26, 2023

PFAS (per- and polyfluoroalkyl substances) are a group of manufactured chemicals that have been produced since the 1940s. While they have myriad useful properties and manifest in a range of products from nonstick surfaces to personal care products, concerns over their use are growing. 

Current scientific research suggests exposure to PFAS may lead to a range of adverse health outcomes, including certain types of cancer, according to the U.S. Environmental Protection Agency.

PFAS are also known as “forever chemicals,” because they break down very slowly, if at all, in nature. Consequently, they continue to accumulate in greater concentrations in our environment, and by now they’ve even infiltrated our bloodstreams.

TriplePundit recently reported on new innovations aiming to mitigate the proliferation of PFAS by finding safer alternatives to them. But we need to find ways to remove existing PFAS, too. 

Though this is notoriously difficult, a North Carolina-based company found a way to eliminate these chemicals, somewhat by accident, in its effort to modernize wastewater treatment. “We got lucky in that we responded to the challenge to re-invent the toilet.” Sunny Viswanathan, VP and head of global sales at 374Water, told TriplePundit. 

Meeting that challenge, seeded by a grant from the Bill and Melinda Gates Foundation, focused the team on developing an optimal sanitation system which could be deployed in low-income parts of the world. In that effort, they sought ways to render waste sludges both useful and inert, leading them to consider supercritical water oxidation (SCWO) as a potential solution. 

Historically, SCWO was used to destroy persistent environmental damage resulting from chemical warfare, Viswanathan told us. But his team found the technology translated well to wastewater management, while coincidentally dealing with PFAS. 

What is supercritical water oxidation?

Water reaches the supercritical stage when both its temperature and pressure are increased to a point where it is no longer a liquid, nor is it a gas. Instead, as Viswanathan described it, “It goes into another ‘phase’ of water.”

Supercritical conditions for water arise at 374 degrees Celsius and a pressure of 218 atmospheres, or over 3,200 PSI (pounds-force per square inch). Once supercritical, water develops some interesting properties which are useful for processing organic waste. 

“Water as a liquid can dissolve salts, but it can’t dissolve organic matter,” Viswanathan explained. He used the example of adding pepper to water, which of course won’t dissolve. Why that’s the case has to do with the shape of the water molecule and consequent polarity of water, Viswanathan explained.

A water molecule has a V-shaped structure that includes a single oxygen atom with two hydrogen atoms attached. This structure affords it a positive and negative charge at an atomic level. Because of this, ionic salts can dissolve but, with very few exceptions, most organic matter — like, in this example, pepper — will be unaffected, Viswanathan explained. But the inverse is true under supercritical conditions.

“When you go supercritical, the shape of the water molecule literally changes — which means it loses its polarity and becomes a very good solvent of organic substances and a bad solvent of salts,” Viswanathan said. “Salts will come out of the solution, but now your pepper will disappear. Your poop will disappear.”

And here is the important point. Because PFAS substances are organic, “Your PFAS will disappear,” he said. 
 
In essence, under supercritical conditions, all the organic matter in wastewater — including PFAS — becomes completely dissociated. When air is added to the mix, an exothermic oxidation reaction takes place, completing the process.

“By introducing air, which has 21 percent oxygen, it will go after the carbon and make CO2 [carbon dioxide]. Once it removes carbon from the material, it becomes inorganic and will form salts and water — and energy, as it is an exothermic process,” Viswanathan said.

The last point is important. An exothermic reaction is one which produces heat. 374Water’s AirSCWO system uses the heat produced by the exothermic reaction to perpetuate the process. So long as you continue to put waste sludge in, “the waste is the fuel,” Viswanathan said. 

374Water container that can eliminate PFAS from water
374Water’s AirSCWO reactor units are packaged into 40-foot shipping containers that the company says can neutralize PFAS and other water contaminants in seconds. (Image: 374Water)

Putting the technology in the field to eliminate PFAS

With this simplified and abstract explanation of the science in mind, what does 374Water’s system look like in the field?

The company’s AirSCWO reactor units are packaged into 40-foot shipping containers (see above). The smallest reactor is a single container, while larger configurations would combine two or more. The company has plans for building-based systems, too.

Household or industrial wastewater comes into the container through a pipe at one end, and inside it, the contents of the pipe are pressurized and heated. Some external energy source is needed initially to start the system.

Wastewater sludge coming into the reactor is typically 80 percent water, and it’s the existing water content of the sludge which goes supercritical. Once that happens, all organic matter within gets dissociated and oxidized, which happens quite rapidly. “It takes four to 40 seconds to go from something that is completely toxic to something that is completely benign, clean and useful,” Viswathanan said.

Indeed, it’s useful in various ways. The system’s output is distilled water and useful minerals such as phosphorus which can be processed into fertilizer. Meanwhile, surplus energy from the exothermic reaction has the potential to be captured for electricity generation.

As for the PFAS, these are broken down into carbon, fluorine, hydrogen, oxygen and sulfur. As Viswathanan put it, “Just by exposing PFAS to supercritical conditions, you have actually destroyed them.”

What’s next for this high-potential PFAS solution?

It’s taken 10 years for 374Water to go from concept to commercialization. The company, now traded on the NASDAQ stock exchange, will see the first of its commercial units go into operation in Orange County, California, next month. 
 
Expansion from there will be carefully undertaken, as 374Water plans to start at a scale that is manageable. But the addressable market is substantial.

Each 40-foot reactor can process up to 1 million gallons of wastewater per day. Of the roughly 17,000 wastewater facilities treating household, commercial and some industrial wastewater in the U.S., only 9,000 of these are in the 1-million-gallon range. In theory, in combination with the larger reactors the company has planned, it would have the capacity to service all of these facilities.

That said, scalability relies to a large extent on the right incentives. The state of Maine offers one such example. 

Because of PFAS, the state has banned the application of wastewater sludge on the land, an increasingly common practice on U.S. farms. That shift means water treatment plants have to spend up to $200 per ton to send their wet sludge out of state. Since 374Water’s method eliminates PFAS and produces no waste sludge, the system would provide a huge cost avoidance opportunity under these circumstances. Consequently, municipal sanitation providers could see payback on a reactor in as few as three years, Viswathanan said. 

As a final point, he emphasized the long-term opportunity this way. “The technologies we are relying on now for waste treatment are nearly 100-year-old, antiquated technologies. We now have a system that is capable of not only treating the waste, but also destroying the recalcitrant waste and taking it out of the ecosystem.”

To see the original post, follow this link: https://www.triplepundit.com/story/2023/technology-eliminate-pfas-wastewater/777446


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Categories : Climate Change, corporate social responsibility, ESG, sustainability

Renewables May Be Booming; But Shifting from Fossil Fuels Is Being Hindered By …

26 06 2023

Wind turbines and solar panels produce energy using free and green sources of power — the sun and wind.  Photo: JIA YU/MOMENT/GETTY IMAGES PLUS

Projects that could generate more than 1TW of renewable energy are still waiting to be constructed and connected to the grid in all parts of the world, due to delays in permitting and a lack of investment in grid infrastructure. By Tom Idle from Sustainable Brands • Reposted: June 26, 2023

First, the good news: The amount of clean energy being generated worldwide is at record levels. Capacity increased by almost 10 percent in the last 12 months; and an impressive 83 percent of all new power that came on stream was produced by renewable-energy systems such as wind and solar. While the International Renewable Energy Agency (IRENA) warns that the sector must grow to three times its current level by 2030 if we are to stay on a 1.5° Celsius pathway, the consistent growth shows “the resilience of renewable energy amidst the lingering energy crisis,” says IRENA Director-General Francesco La Camera.

However, new data show that while clean-energy installation continues to soar, a number of barriers remain that are making it hard for many economies to shift fully away from fossil fuels.

REN21’s latest Renewables in Energy Supply module, launched as part of its annual Renewables 2023 Global Status Report, suggests a lack of attention has been paid to energy technologies and carriers beyond wind and solar power. Deficient policies, permit bottlenecks and uneven investment are exacerbating the problem, according to the think tank.

The group has examined the way final energy is distributed among heat, fuel and electricity; geographies and technologies — including bioenergy, geothermal power and heat, heat pumps, hydrogen, hydropower, solar PV, concentrated solar power, solar thermal heat, ocean power and wind power. Right now, the global energy supply base is split between providing heat (49 percent) and fuel (29 percent), with electricity having the lowest share (22 percent). In 2022, the share of renewables across the entire power sector reached 30 percent, largely thanks to favourable long-term policies that have helped to drive down costs. ‘But across all sectors, renewables cover just 12.7 percent of the total energy system — which is a relatively low share in the larger scheme of things,” REN21 Executive Director Rana Adib told Sustainable Brands®.

An exploration of the other energy carriers — fuels and heat, which provide most of the world’s energy — reveals what Adib claims to be “dismal” renewable energy shares of just 3.6 percent and 9.2 percent, respectively.

“It shows that efforts are narrowly focused on transitioning the power supply. Such a limited focus is ultimately slowing the shift to a renewables-based system, delaying efforts to reach the Sustainable Development Goals and maintaining the status quo of energy insecurity,” she adds.

Both the International Energy Agency (IEA) net-zero scenario and IRENA’s 1.5° Celsius scenario suggest that electricity will supply just 50 percent of our total energy by the middle of the century. That’s why it’s crucial more attention is paid to renewable heat and fuels, as well as diversifying renewable-energy technologies, Adib says.

“We cannot continue to neglect the other carriers — renewable heat and fuels — if we are serious about cutting emissions and addressing the climate, energy and poverty crises. It took time, investment and policy attention to expand to 30 percent renewable power. We now need to award heat and fuels similar policy attention to achieve the critical shift we need.”

So, what does that look like? Are there some quick wins from a policy point of view that might help to shift the renewables market? One very quick win would be to address the permitting issues that continue to cause delays, Adib says: “If there’s political will, it can happen. But governments need to stop sending mixed signals on fossil fuels. They continue to subsidize fossil fuels when clearly renewables are the least-cost option; but they are not operating in a level playing field.”

Currently, projects that could generate more than 1 terawatt of renewable energy are still waiting to be constructed and connected to the grid in all parts of the world, due to delays in permitting and a lack of investment in grid infrastructure. “It’s like, you manufacture cars and wait for roads. When we built cars, we did it with confidence that roads will accompany the process. The same thought and action process must apply to renewables,” she asserts.

What role can the business community play on the demand side? After all, companies are not passive bystanders in this debate; demand will fuel supply, so to speak. Adib wants businesses to continue being strong allies for renewables by investing in their own clean-energy capacities, moving to renewable electricity, changing vehicle fleets to electric, and showing a willingness to participate in the energy and heat transition.

Proving to governments that there is absolutely the demand for clean energy is crucial — especially at a time when the pro-fossil fuel movement is as strong as ever and getting more difficult to identify, due to the prevalence of greenwashing.

“Right now, there’s a real push for hydrogen. But the reality is that, globally, just 1 percent of the hydrogen produced is produced from renewable energy — all the rest is fossil-fuel-based,” Adib says. “So, this already requires quite of a technical understanding of what is happening. That’s a big risk.

“The energy crisis has shown the importance of security of supply. To shield us from new crises, policymakers must immediately ramp up efforts in all renewable-energy technologies — including hydropower, geothermal, ocean, CSP and bioenergy. If we don’t quickly evolve these alongside solar PV and wind, we will still need to depend on coal, oil and gas, and nuclear for our energy supply well into the future.”

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What Plastic Pollution? These Companies Are Making Packaging Disappear

26 06 2023

Photo: Greenpeace USA

As innovators such as Notpla and B’ZEOS continue to prove, the potential uses for seaweed — including as plastic alternatives that are truly compostable and biodegradable — are endless.By Scarlett Buckley from Sustainable Brands • Reposted: June 26, 2023

Currently, the world produces more than 380 million tonnes of plastic a year, with 42 percent of this used for packaging. And the statistics on that plastic post-use are dismal: Only 9 percent of all plastic ever produced has been recycled, 12 percent has been incinerated and 22 percent has been otherwise mismanaged. Ironically, plastic was created to save the environment — creating a durable alternative to natural materials such as elephant ivory and tortoise shells. But as we well know, it has done the opposite and become one of our largest environmental threats — poisoning the earth, destroying global ecosystems and killing marine life.

But plastic became ubiquitous for a reason; so, finding alternatives that not only boast the advantages and functionality of plastic but don’t persist in the environment has proven no easy feat. With 175 nations vowing to end plastic pollution and the legally binding agreement underway, world leaders are eager to find viable ways to turn off the plastic tap and put an end to our toxic dependence on it.

Enter: Seaweed — which not only offers the world a plethora of practical applications, it could also be a game-changer in the fight against climate change. With the current rate of plastic packaging production not compatible with a sustainable future, material innovators Notpla and B’ZEOS are among those looking to seaweed as a viable alternative.

Notpla

Image credit: Notpla

Winners of both the Tom Ford Plastic Innovation Prize and the 2022 Earthshot Prize, London-based startup Notpla (as in “Not Plastic”) was founded by packaging designer Pierre-Yves Paslier and designer and architect Rodrigo García González, who met in an Innovation Design Engineering Masters program at Imperial College London. Notpla has developed a line of biodegradable, seaweed-based alternatives to plastic packaging that break down in 4-6 weeks.

“Seaweed is revolutionary in every aspect. For us, it is the perfect alternative to plastic; it’s what we use from beginning to end — even the elements that would normally go to waste — to create Notpla’s innovative products that disappear just like fruit,” Paslier told Sustainable Brands®.

Seaweed grows rapidly and abundantly without the need for freshwater or fertilizers; so, it can be cultivated on a large scale without putting any additional strain on natural resources or disrupting the environment.

Notpla’s seaweed-based packaging solutions come in a variety of forms. Notpla Coatinghas many of the same grease- and water-resistant qualities of traditional, plastic barriers that prevent items such as takeaway boxes and hot-beverage cups from being fully recyclable or biodegradable. Takeaway containers utilizing Notpla Coating are already available across eight countries in Europe; and its reach continues to expand, thanks to partnerships with companies such as delivery app Just Eat and UK-based foodservice wholesaler Bidfood.

In addition to the takeaway industry, Notpla’s edible Ooho bubbles are making on-the-go hydration easier; thanks to a partnership with Lucozade, they’ve appeared in vending machines in London gyms and were handed out to runners at two 2019 races — reportedly replacing 38,000 plastic bottles at the Netherlands’ Zevenheuvelenloop and 36,000 at the London Marathon. This year, Ooho bubbles replaced over 20,000 single-use plastic cups at the Gothenburg Half Marathon.

The company has also developed Notpla Paper — made from the fibers and biomass left behind after the gelatinous part of the seaweed is extracted — which is suited to many secondary packaging applications and enables a truly circular way of using the entire seaweed.

Paslier noted that one of Notpla’s biggest challenges is greenwashing — the introduction of an innovative, truly sustainable products in a market awash with dishonest solutions still requires legislative change for large-scale adoption.

“But it is a challenge we are persistently working on — leveraging our story and success to prove that it can be done. And although there remain steps to be taken from both a governmental and end-customer position, we can support in directing and informing our industry and audience on which these are,” Paslier asserts.

“The long-term goal for us is to become a leader in the sustainable packaging industry, to expand our portfolio of truly sustainable ‘Not Plastic’ solutions for packaging and disposables that come from nature and leave no trace behind,” he adds. “By working with the world’s leading consumer brands, we will put seaweed on the map and become a household name. With continued effort in educating people and making it easy to consume more responsibly, we can see a future where Notpla has replaced 1 billion single-use plastics.”

In the meantime, while the company primarily sources its seaweed from Car-Y-Mor, a seaweed farm on the coast of Wales, Notpla is working to support growth of the regenerative seaweed-farming industry throughout the UK and Europe by steadily building partnerships with seaweed farms.

B’ZEOS

Image credit: B’ZEOS

Meanwhile, Norwegian green-tech company B’ZEOS (the name reflects the company’s mission: Be Zero waste, Edible, Ocean-origin, Sustainable) is also using seaweed to develop novel, bio-based materials which it hopes will replace fossil-fuel-based plastic. Its seaweed-packaging pellets can be transformed into a variety of final products, making it compatible with conventional machinery. B’ZEOS says the processes used to make its 100 percent biodegradable and home-compostable material are energy efficient and do not require any toxic chemicals.

As Kela Feller, Communications & Partnerships Manager at B’ZEOS, told SB: “Seaweed is a really versatile crop. It doesn’t require land use or freshwater to grow, it creates habitats for marine life, it sequesters carbon from the atmosphere and absorbs excess nitrates in the water, helping to combat ocean acidification — it’s just a miracle crop!”

B’ZEOS is mainly focusing on food and beverage packaging; but Feller says its products can be suitable for many industries — including electronics, cosmetics and pharma. B’ZEOS is also developing flexible films, paper coatings, thermoformables and injection molding for various packaging applications.

The company says it secures its seaweed from one of the top regenerative seaweed growers in Europe, with operations in France and Norway; and as it scales, it is working to train more suppliers in Canada and Indonesia. B’ZEOS’ business model is based on paid pilots and services; once it enters the market with its final products, the company would like to sell the seaweed pellets directly to converters and packaging manufacturers.

B’ZEOS — which has already had two collaboration periods with Nestlé and has been awarded its first EU grant, PlastiSea — is hoping to be commercial by next year, with an initial focus on food packaging.

To see the original post, follow this link: https://sustainablebrands.com/read/chemistry-materials-packaging/what-plastic-pollution-companies-making-packaging-disappear


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Categories : corporate social responsibility, ESG, green marketing

AccountAbility 7 Sustainability Trends 2023 Report – Shaping the Global Business Agenda

23 06 2023

This report brings into focus the key sustainability issues and priorities, and the business opportunities they present. From AccountAbiity • Reposted: June 23, 2023

AccountAbility, a trusted global ESG Consulting and Standards firm with a three-decade history in guiding leaders to build better companies, today released the AccountAbility 7 Sustainability Trends 2023 Report. Leveraging the firm’s global consulting, research, and standards experience, the report provides timely data, comprehensive insights, and action-oriented guidance to help organizations across industries and geographies make informed sustainability decisions towards meeting their business objectives.

“Consumers and society, as a whole, are expecting more (and different) from business – in an atmosphere of low trust and high expectations,” comments AccountAbility CEO Sunil (Sunny) A. Misser. “Today, the sustainability agenda is central to business competitiveness. Leaders recognize the financial imperatives of moving to a more sustainable economy and the business potential this presents. With this 7 Sustainability Trends 2023 Report, we enable organizations to navigate the fast-changing ESG landscape and focus on the meaningful trends that are shaping the business agenda.”

The AccountAbility 7 Sustainability Trends 2023 Report provides organizations and businesses with timely and valuable insights into the most pressing environmental, social, and governance issues. In identifying and analyzing these latest trends, challenges, and opportunities in sustainability, the report enables strategic planning, informed decision-making, and effective stakeholder engagement. This report helps organizations align their strategies with evolving sustainability priorities, anticipate future developments, and address risks and opportunities proactively.

Furthermore, the report is designed to enhance investor confidence, supporting sustainability reporting, facilitate knowledge sharing, and promote policy and regulation alignment. The AccountAbility 7 Sustainability Trends 2023 Report is an important tool to help organizations stay at the forefront of these important developments, drive positive change, position themselves as leaders in sustainability, and deliver on their business agenda.

The AccountAbility 7 Sustainability Trends 2023 Report was researched and compiled by the firm’s Global Leadership, Consulting, Research, and Standards teams and benefits from the firm’s extensive work with prominent global organizations across Industries, including Financial Services, Energy & Extractives, Healthcare & Pharmaceuticals, Real Estate, Consumer Packaged Goods, Telecom & Technology, Foundations, Governments, and others, in jurisdictions including the US, UK, EU, Mid-East, and Asia.

The AccountAbility 7 Sustainability Trends 2023 – Highlights

  1. Navigating 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 transparent leaders?
  2. 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?
  3. 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?
  4. 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?
  5. 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?
  6. 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?
  7. 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?

To download the Report, visit: AccountAbility 7 Sustainability Trends 2023 Report

To see the original post, follow this link: https://www.csrwire.com/press_releases/777271-accountability-7-sustainability-trends-2023-report-shaping-global-business


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Categories : social responsibility, sustainability, sustainable branding, sustainable brands

Study: Billions in Brand Value at Risk If Sustainability Perceptions, Performance Are Unaligned

23 06 2023

New research quantifies the financial value of sustainability perceptions for hundreds of the world’s biggest brands — and the substantial risks of not living up to them. From Sustainable Brands • Reposted: June 23, 2023

First launched at the World Economic Forum in Davos earlier this year, Brand Finance‘s Sustainability Perceptions Index showed that for many of the world’s most valuable businesses, there can be billions of dollars of financial value to be gained from enhanced ESG action and associated communication.

Now, for the new Sustainability Gap Index, brand-valuation consultancy has recalculated the valuations of each brand by considering its ESG performance, utilizing data from CSRHub. The newly derived values, in conjunction with the Sustainability Perceptions Scores (SPS) disclosed in the new report, expose whether public perceptions align with the actual performance of each brand — and the financial risks associated with any gap.

As Robert Haigh, Strategy & Sustainability Director at Brand Finance, explains in the report:

“Highlighting the link between finance and sustainability is timely and essential; but the message isn’t a new one. However, a sticking point has been that without articulating the case in financial terms, enabling evaluation of business cases and return on investment analysis, it can be difficult to justify the kind of investment that is required to shareholders.

“Brand Finance has sought to solve this challenge. We have quantified the financial value of sustainability perceptions for hundreds of the world’s biggest brands. Our research shows that even for individual businesses, there can be billions of dollars of financial value to be gained from enhanced action and associated communication. Equally, there can be billions at risk from insufficient action that leads to accusations of greenwashing, or even misallocated or excessive investments in sustainability communication that does not cut through. We hope this report is a useful first step in understanding the financial significance of sustainability perceptions to your business, including the value that you may stand to lose!”

Closing the perception gap

As detailed in the report, where a brand’s sustainability performance exceeds that of public perception, there is an opportunity to rapidly generate value by communicating the brand’s genuine commitment to sustainability more effectively. Conversely, where perception exceeds performance, value is at imminent risk — as brands leave themselves open to public backlash and a ‘correction’ of their sustainability perceptions value.

For example, Brand Finance found Amazon to have the highest sustainability perceptions value of any brand — US$19.9 billion. The ecommerce giant may not be perfect; but consumers appear to have confidence that it is committed enough to minimizing its impacts for them to continue to use its services. But if Amazon fails to keep pace with perception through a precautionary approach to improving its sustainability performance, and honest communication about its progress, those billions of dollars of value could be at risk.

View larger graphic here.

Another such brand is Tesla. Known as a pioneer of electric-vehicle, solar and battery technologies, Tesla’s image has clearly carried across into the perceptions held by global consumers. The company has the highest proportion of value underpinned by sustainability perceptions of any brand (26.9 percent) resulting in a Sustainability Perceptions Value of US$17.8 billion. However, the strength of this perception creates its own risk — because whilst Tesla performs well on environmental components of sustainability, it is weaker on governance and measures of social sustainability. Tesla’s weaker CSRHub scores therefore create a value at risk of up to US$4.1 billion — more than any other brand in the table.

Conversely, Microsoft has the highest positive gap value of any brand according to Brand Finance’s research — US$1.5 billion. This reveals that Microsoft’s sustainability performancelargely exceeds its public sustainability perception, thanks to a phenomenon on the flipside of greenwashing known as ‘greenhushing’ — in which brands under-report their sustainability progress or credentials for fear of being accused of greenwashing — which, Brand Finance posits, means there is an opportunity for Microsoft to generate up to US$1.5 billion by speaking more loudly and clearly about its sustainability initiatives and services.

View larger graphic here.

Meanwhile, luxury fashion house Chanel is an example of a brand that has both a (relatively) high Sustainability Perceptions Score (4.88/10) and a high CSRHub score. By engaging with a wide range of stakeholder groups, Chanel can better align its sustainability performance with its sustainability perception through strong, authentic sustainability communication.

Sectors as sustainability drivers

While Brand Finance found that sustainability plays a powerful role in brand perception at the premium end of all sectors, the research also found that it is more likely to act as a differentiator for brands in certain sectors. For instance, the average role of sustainability in driving choice in the luxury auto sector is 22.9 percent (which could partly explain the lasting halo effect for Tesla). It might seem counterintuitive that brands often associated with high fuel consumption are reliant on a reputation for sustainability. However, in luxury auto — where the purchase is discretionary and the brand is publicly expressed — the appeal of sustainability is further enhanced. Other sectors in which sustainability plays a powerful role are soft drinks (13.7 percent), supermarkets (12.6 percent), media (10.1 percent) and personal-care products (10 percent). For soft drinks and supermarkets, the potential impact of the products in question is a lot more tangible for consumers than in many sectors — due to growing understanding of impacts such as plastic pollution, deforestation and other agricultural impacts, or food miles. In cosmetics, many brands have found success marketing attributes including clean and sustainable ingredients; avoidance of animal testing; and ethical supply chain initiatives.

The bottom line is, the time that companies could ignore the tangible financial link between sustainability and brand perception has come and gone — as has the era of greenwash. In the report, IAA Public Policy Council Chair Jeffrey A. Greenbaum offers brands a great starting point for proceeding authentically: “One thing that every advertiser should do is review their marketing with a view toward replacing ambiguous, general environmental benefit claims that could have the capacity to mislead consumers with claims that promote specific environmental benefits that are backed up by proper substantiation.”

To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/billions-brand-value-risk-sustainability-perceptions-performance-unaligned


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Categories : corporate social responsibility, ESG, social responsibility

How Consumer Goods Companies Can Turn the Tide on Plastic Waste

23 06 2023

Image credit: Polina Tankilevitch/Pexels

By Roya Sabri from Triple Pundit • Reposted: June 23, 2023

For the companies developing consumer products, making the needed progress can seem unattainable in an age when plastic has become a reliable and affordable go-to for packaging. It might even feel like a distraction from other priorities. So, how can consumer goods companies contribute to global goals around reducing plastic waste and pollution?

While many consumer goods companies have made ambitious targets for 2025 and beyond, success on some fronts has proven to be elusive. Progress toward the New Plastics Economy Global Commitment, signed by over 500 organizations, for example, has been a mixed bag. In 2022, the Ellen MacArthur Foundation reported that the use of recycled materials has been improving, but signatories are still using too much virgin plastic and not enough reusable plastic. The overall use of virgin plastic was reported as comparable to 2018 levels when the Commitment was first signed. 

Meanwhile, regulatory pressure and consumer demand for change have only increased. More than 60 countries have enacted some form of ban or levy on plastic packaging, according to the U.N. Principles for Responsible Investment initiative. When it comes to purchasing patterns, consumers are also conscious of the packaging they buy. In a 28-country Ipsos survey, 82 percent of respondents said they prefer buying products that have as little plastic packaging as possible.

Research shows the need is urgent: If we don’t reduce waste production, we will more than exceed the boundaries of our planet by 2060. Consumer industries have a major part to play. They represent $35.2 trillion in the global economy, and reducing plastic waste is a crucial focus.

Escaping “pilot purgatory” to reduce plastic waste

Given this business case, Accenture and SAP have built expertise in the circular economy, helping clients reduce waste in product lifecycles. Drawing on this experience, extensive market research and testing, the companies have published a new report, “The Future of Packaging in the Circular Economy: 5 Actions for Long-Term Success,” that gives consumer goods companies insights and tools to build momentum for packaging circularity and achieve long-term success, escaping what the authors call “pilot purgatory.”


Research from the report shows that 66 percent of pledges to go greener on plastic have failed due to companies breaking their own commitments and targets.

Accenture and SAP reviewed corporate communications on 50 circular pilot programs between 2017 and 2023. Of those, only two programs followed up with impact measurement and consistent progress updates. “In short, the overwhelming majority of pilots have not shown progress beyond the initial announcement, with no acknowledgement of cancelled pilots or shared learnings from those projects,” the report reads.

In contrast to the culture of launching pilots that lack the infrastructure to support them to scale, the following five actions help nurture a circular system where initiatives can thrive. 

Embrace authenticity and transparency

In business, it’s tough to know how far transparency should go. The important thing is to build a system of data collection and disclosure that expresses credibility to customers and builds trust among stakeholders. This starts with a comprehensive baseline of product packaging and continues by building out tools like digital twins — or virtual models that, in this case, would illustrate what’s happening in the supply chain, as well as how initiatives are progressing. 

The public-private Platform for Accelerating the Circular Economy (PACE) established the Circular Economy Indicators Coalition to make disclosure of this information more feasible. By bringing standardization to circular economy metrics, the coalition aims to catalyze more robust and meaningful disclosures that push collective understanding and action forward.

Re-imagine packaging R&D

In calling for innovation, Accenture and SAP recommend first getting down to the basics. A few simple questions about the purpose of the packaging and the product help prune unnecessary elements that would get in the way of circularity. 

Then comes design. Changing up materials doesn’t necessarily happen automatically, and it must be done with care. Not every material is truly scalable in an environmentally-friendly and business-sensitive way throughout a package’s lifecycle. Advanced technologies like machine learning can speed up the prototyping and testing process so that it’s easier to find solutions that achieve circular goals while also meeting business needs. 

The Consumer Goods Forum, an industry group representing more than 400 companies globally, released its Golden Design Rules for packaging in 2021 to provide further guidance to the sector. The rules range from choosing the proper color to ensure plastic bottles are more easily recyclable, to reducing the use of plastic overwrap, to removing hard-to-recycle plastic resins from packaging. Though the standards are voluntary, companies within the Forum’s Coalition of Action on Plastic Waste have committed to align with them in their packaging design.

Still, packaging that’s more sustainable isn’t necessarily simpler. With “smart” elements like QR codes and digital tags that enable two-way communication, packaging can enhance engagement with customers. And if a circular design sacrifices the glam of shiny and vibrant single-use plastic, tech solutions like augmented reality experiences can expand marketing into new (cost-saving) directions.

Invest in infrastructure and communities

The beauty and complexity of circular economy goals is that they don’t end with production. A circular company has the responsibility to ensure its packaging is properly collected and repurposed at end-of-life. If this involves recycling, for example, there are various stakeholders and community features to engage and support. 

The report calls out Danone as one positive example of a multinational company stepping beyond its walls to fulfill circular packaging aspirations. For example, the company helped establish the largest and most advanced PET plastic recycling facility in Indonesia and has invested significantly in recycling technology and infrastructure in North America. These initiatives have been in supplement to the company’s basic efforts at changing its packaging for the better. Today, almost three-quarters of Danone’s plastic packaging is reusable, recyclable or compostable, compared with a baseline of almost two-thirds in 2018. 

Grow, reuse and explore circular business models

Here’s another roadblock to overcome. What if a company puts time, effort and money into a circular solution, but consumers don’t buy it? Or maybe the market jumps in an unexpected direction. We’ve already noted the solid and intensifying business case to pursuing circularity, but aligning properly (and securely) with these trends takes intentional efforts. 

Accenture and SAP outline steps including user research, testing and learning instead of putting all your eggs in one pilot. Collaborating with other actors along the value chain also allays risks. 

Further, reusable packaging offers a uniquely secure opportunity not only for resource efficiency, but also for brand loyalty. As widely reported across news outlets including Time Magazine, success in reuse requires demonstrating proper customer buy-in and low environmental impact over the course of the packaging’s lifecycle. 

Collaborate to scale

It’s no accident that we find collaboration at the end of the report. Breaking down silos between companies and organizations is a big ask. Yet the authors write, “Collaboration is one of the critical and necessary components for circular packaging to gain traction.” Consumer goods companies should seek to collaborate with each other before getting to the stage of competition in the market, SAP and Accenture recommend. 

Some opportunities include creating “communities of practice” that prioritize forthright communication, where companies can openly share triumphs and challenges in the march toward circularity. It’s through collaboration that companies might also find reusable packaging a more feasible option: They can work together to coordinate investments and establish the necessary relationships and infrastructure. 

The bottom line

The most important element to each of these recommendations is work. That’s why Accenture and SAP called them “actions.” They aren’t targets to be made and set aside after a few months. Actually working through the outlined steps takes dedication. 

The innovation and honesty required might not be comfortable, but working together can help make the path smoother. “Given the scale of the challenge, time is too short for each consumer goods company to learn the same lessons individually,” the authors write. 
In the end, finding solutions to wasteful plastic packaging will make companies more compliant to regulations and appealing to customers. Consumer goods companies are uniquely positioned to lead the way. 

This article series is sponsored by SAP and Accenture and produced by the TriplePundit editorial team.

To see the original post, follow this link: https://www.triplepundit.com/story/2023/consumer-goods-companies-plastic-waste/777296


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Categories : reputation management, sustainability

How Much Do You Really Know About Your Suppliers?

22 06 2023

Modern third-party risk management requires deep, near-constant monitoring by Matthew Debbag from Corporate Compliance Insights • Reposted: June 22, 2023

Ethical sourcing and due diligence have become crucial components of third-party risk management. But as Creditsafe’s Matthew Debbage explains, many companies still aren’t taking the threat seriously enough.

Despite the increasing focus on compliance and risk management, a recent survey by Creditsafe found that nearly half (42%) of companies would still work with a supplier even if they have been sanctioned or involved in corruption, bribery, fraud, money laundering or forced labor. And it’s not as if this is simply a function of ignorance of the truth: 83% of companies run compliance checks on international suppliers at least once a quarter, indicating that they are either not taking the results seriously or may be ignoring the outcomes.

We expected the respondents in our study to show a stronger commitment to ethical sourcing, but what we discovered was a contradiction between companies’ publicly espoused values and their actions. 

This contradiction highlights a significant issue in global supply chain management, and it must change if brands want to restore customer confidence and prevent costly mistakes like lawsuits or fines.

Answering the call for ethical sourcing

Ignoring ethical sourcing and supplier due diligence within your business and with your international suppliers can have severe consequences. A brand’s reputation can be severely damaged, with negative publicity or plummeting stock prices and could be subject to lawsuits, compliance violations and regulatory fines.

There are a number of laws in place to safeguard the U.S. market from unethical businesses. The Uyghur Forced Labor Prevention Act bans imports from China’s Xinjiang region unless companies can prove their goods were not produced using forced labor or child labor. More legislation in this area is possible, as a  bipartisan measure, the Slave-Free Business Certification Bill, would require certain large companies to carry out audits on their supply chains to ensure they are free of slave labor. 

Beyond compliance violations, another huge risk is the financial and reputational impact. Industry giants like H&M and Nike have encountered consumer boycotts due to their association with suppliers engaging in forced labor. 

On the other hand, a prime example of how being a purpose-driven, sustainable company can boost revenue growth and profitability is Patagonia. Regarded as one of the world’s most responsible companies, Patagonia monitors all of its processes, including every step of the manufacturing process, with the goal of minimizing its environmental and social impact. The clothing brand is also a certified B Corporation, having met or exceeded stringent criteria consistently and earning an “outstanding” score in each of the past five years.

Three ways to improve third-party risk management

Here are three ways compliance professionals can enhance third party risk management:

Screening for compliance: By leveraging real-time sanctions databases, global enforcement lists, adverse media coverage and profiles of politically exposed persons (PEPs) and state-owned companies, organizations can proactively identify potential red flags and compliance risks. An automated approach can streamline the screening process and optimizes decision making of potential supplier partnerships.

Mitigating operational disruptions: Timely identification of red flags and potential risks allows organizations to proactively develop contingency plans, ensuring they can swiftly address disruptions, such as factory shutdowns, by swiftly reallocating production orders to alternative suppliers.

Enhancing financial stability: One key aspect of third-party risk management is assessing the financial stability of international suppliers. Such insights are vital, as disruptions in the supplier’s operations, whether due to financial difficulties, political unrest, worker disputes or unforeseen events like pandemics, can severely impact a brand’s ability to fulfill production orders on time.

Matthew Debbage is the CEO of the Americas and Asia for Creditsafe. As a longtime veteran of Creditsafe, he has held various leadership roles including COO of Creditsafe Group and CEO of the Americas and Asia since 2012. Over the past 10 years, he led the expansion of the business in the United States, where he has built a high-performing team, driven impressive revenue growth and worked with thousands of American businesses across various industries.

To see the original post, follow this link: https://www.corporatecomplianceinsights.com/how-much-suppliers/


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Categories : Climate Change, corporate social responsibility, sustainable branding, sustainable brands

5 Ways To Seamlessly Integrate ESG Initiatives Into Your Brand

22 06 2023

Photo: Getty

By Leeza Hoyt, Forbes Councils Member • Forbes Agency Council via Forbes • Reposted: June 22, 2023

Environmental, social and corporate governance (ESG) has become a transformative force in the corporate landscape. Embracing ESG principles allows companies to drive sustainable growth while making a positive impact on society. With a well-defined strategy in place, companies can also enhance their reputation, attract top talent and build enduring relationships with key stakeholders.

Moreover, as millennials and Gen Z gain purchasing power, the demand for companies to prioritize ESG is growing. Notably, 75% of millennials reported a willingness to change their buying habits for eco-friendly products, and the majority of Gen Z is willing to spend 10% more on sustainable brands. Additionally, one-third of millennials prioritize investment products considering ESG factors, along with 19% of Gen Z, 16% of Gen X and 2% of baby boomers.

Integrating ESG into business strategies goes beyond buzzwords—it demands accountability and concrete actions aligned with environmental stewardship, social responsibility and ethical governance. As an experienced strategic communications agency, we have successfully guided numerous businesses through effective ESG initiatives. Read on to discover five strategies for seamlessly incorporating ESG initiatives into your brand and showcasing your unwavering commitment to responsible business practices.

1. Understand Your Brand Values

Before implementing any ESG initiatives, it’s important to understand your brand values and how they align with ESG principles. For example, if your brand is focused on sustainability, then incorporating environmentally friendly initiatives makes sense. If your brand is focused on social justice, initiatives promoting diversity, equity and inclusion would be more fitting.

2. Prioritize Initiatives That Align With Your Business

ESG initiatives should be integrated into your overall business strategy and should not be seen as a separate entity. Identify the areas where your business has the most impact and prioritize initiatives that will have the biggest impact in those areas. For example, if you’re a clothing company, reducing your carbon footprint by using sustainable materials or implementing a recycling program would make sense.

3. Be Transparent And Authentic

Consumers can see through inauthentic attempts at ESG initiatives, so it’s important to be transparent about your goals and progress. Communicate openly about the initiatives you’re implementing and the progress you’re making toward your goals. Be honest about areas where you may be struggling or where there’s room for improvement.

4. Engage With Stakeholders

ESG initiatives require buy-in from all stakeholders, including employees, investors and customers. Engage with these groups to get their feedback and input on your initiatives. This will not only help you identify areas where you can improve but will also create a sense of ownership and accountability among stakeholders.

5. Measure And Report On Your Progress

ESG initiatives require ongoing monitoring and measurement to ensure that they’re having the intended impact. Set measurable goals and regularly report on your progress toward those goals. This will not only help you identify areas where you can improve but will also demonstrate your commitment to ESG principles to stakeholders.

How To Develop Your ESG Communications

Here are some ways you can effectively communicate your company’s comprehensive commitment to sustainability, responsible governance and social progress, enhancing your reputation and building trust among stakeholders:

• Emphasizing innovation: Highlight your company’s investment in research and development for sustainable solutions, demonstrating a forward-thinking approach.

• Supply chain transparency: Communicate your suppliers’ social and environmental practices to showcase your commitment to ethical sourcing and responsible partnerships.

• Promoting a sustainable product life cycle: Showcase your efforts to minimize waste, optimize resource efficiency and promote circular economy principles throughout the entire product life cycle.

• Engaging with communities: Amplify your community engagement initiatives, including philanthropy, volunteer programs and partnerships that contribute to social and environmental causes.

• Stakeholder collaboration: Communicate your active engagement with stakeholders. Solicit their feedback and incorporate their perspectives to drive positive change.

The Bottom Line

Remember, ESG isn’t a one-time initiative—it’s an ongoing commitment to embedding these values in your business strategy and operations. By prioritizing ESG initiatives that align with your brand values, engaging with stakeholders, and measuring and reporting on your progress, you can make ESG fit your brand and demonstrate your commitment to creating positive change.

Leeza L. Hoyt, APR, is the president of The Hoyt Organization, Inc., a public relations firm based in the greater Los Angeles area.

To see the original post, follow this link: https://www.forbes.com/sites/forbesagencycouncil/2023/06/21/5-ways-to-seamlessly-integrate-esg-initiatives-into-your-brand/?sh=7f1f6e8d58f3


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Categories : ESG, green marketing, reputation management, sustainable branding

HP Study: Climate Crisis Changing Parental Decisions on Purchases, Careers, Even Family Size

21 06 2023

91% of parents surveyed are concerned about climate change — a majority say the crisis has even impacted their perspective on having more children. From Sustainable Brands • Reposted: June 21, 2023

HP revealed new global research by Morning Consult that shows how many parents are working to act on climate change — from everyday decisions to long-term family planning.

The study — conducted in May 2023 among just over 5,000 parents in India, Mexico, Singapore, the United Kingdom and United States — found that 91 percent of parents are concerned about the climate crisis, leading to changes that are reshaping their lives and purchasing habits. More than half (53 percent) say it has impacted their perspective on having more children; and 43 percent say they have reconsidered working for a companybased on its commitment to environmental and social issues.

The research also found many parents favor companies that are taking action to address climate change. Nearly two-thirds (64 percent) of parents surveyed say they prefer products that are sustainably sourced and 60 percent say sustainable company practices play a large part in their purchasing habits. That is despite finding that the vast majority of parents (84 percent) acknowledge the rising cost of living; and more than half (57 percent) believe engaging in environmentally friendly practices takes up a lot of time.

“Families, like all our customers, rely on HP to connect them to the things that matter most — be it work, entertainment or loved ones,” said Michele Malejki, Global Head of Social Impact. “It’s one of the reasons parents are top of mind for us. And like every generation before them, today’s parents have their own unique pressures — especially the climate crisis. It’s why we’re going beyond our business impact to make our business better for people and the planet.”

While parents are taking personal action, most also believe key players in the corporate world must act, too. Most parents (51 percent) believe that companies have “a lot” of responsibility in holding themselves accountable on climate action, as opposed to customers (36 percent).

The findings come as HP releases its 22nd annual Sustainable Impact report, which details the company’s progress toward comprehensive and bold environmental and social goals. HP has:

  • Reduced its absolute carbon footprint by 18 percent since 2019. This brings the company closer to its goal to achieve net-zero carbon emissions by 2040 – end to end.
  • Reduced single-use plastic packaging by 55 percent compared to 2018.
  • Counteracted deforestation for 32 percent of all paper used in HP products and services toward goal of 100 percent.
  • Accelerated digital equity for more than 21 million people on path to 150 million by 2030.
  • Committed to building a pipeline of diverse talent, with 46 percent of US new hires last year from racial or ethnic minorities.

HP aspires to be the most sustainable and just technology company. In 2021, the company set aggressive Sustainable Impact goals in three areas where the company believes it can make the most difference — Climate Action, Human Rights and Digital Equity. The 2022 report details progress toward all three focus areas — including creating a net-zero carbon value chain, giving back more to forests than it takes, creating a more circular economy, building a culture of equality and empowerment, and accelerating digital equity around the world to enable traditionally excluded communities to thrive in a digital economy.

“Our research correlates to what we see in our business: We are keeping customers, winning new sales and attracting talent because of our Sustainable Impact initiatives and sustainable products,” said James McCall, Chief Sustainability Officer. “If we are serious about changing the trajectory of the climate crisis, industry must go beyond — changing the mindset of ‘do no harm’ to ‘do more good.’”

To see the original post, follow this link: https://sustainablebrands.com/read/defining-the-next-economy/hp-study-climate-crisis-parents-purchases-careers-family-size


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Why Are Corporate Climate Disclosures Important, and How Can Investors Put the Pressure On?

21 06 2023

An orange hue tints New York City on June 7 as smoke from more than 100 wildfires across Quebec, Canada, filters south. Wildfire seasons are starting earlier, lasting longer and causing more damage due to climate change, scientists say. (Image: Metropolitan Transportation Authority/Flickr)

By Mary Riddle from Triple Pundit • Reposted: June 21, 2023

The annual Non-Disclosure Campaign engages investors to directly request climate disclosures from top companies responsible for high levels of greenhouse gas emissions.

Organized by the nonprofit CDP (formerly the Carbon Disclosure Project), this year’s campaign includes nearly 300 global financial institutions with almost $29 trillion in assets under management. They’re calling for disclosure from over 1,600 high-impact companies — including Saudi Aramco, ExxonMobil, Tesla, Chevron, Caterpillar and Volvo. Together, these companies emit nearly the same amount of greenhouse gases as the United Kingdom, European Union and Canada combined, according to CDP. And they’ve all failed to respond to the nonprofit’s climate disclosure requests.

So, why are climate disclosures important, and how can investors and other stakeholders put the pressure on more companies to disclose? We sat down with Sebastian O’Connor, an associate director at CDP whose team has conducted the Non-Disclosure Campaign since 2017, to learn more. 

Why are environmental and climate disclosures important? 

“The theory of change behind CDP is quite simply what gets measured gets managed,” O’Connor said. “The end goal of all of our work on climate change is to get emissions down to zero. To get to that point, you need a target that is feasible but ambitious. And to get a target, you need to know where you start.” 

While climate disclosures are the most common kind of disclosure reported to CDP, many companies also disclose their water and forest impacts, O’Connor said. “It is more than climate. The whole aspect of nature should be disclosed against — climate and nature are interlinked.”

Corporate climate disclosures encompass business activities that produce emissions, including in the company value chain. Because the world still lacks a global standardized reporting framework, CDP is one of the recognized industry leaders in evaluating climate and nature impacts. 

“CDP is the best avenue for standardized, comparable disclosures that can be assessed and graded to see how well a company is doing,” O’Connor said. “We need to know how corporations are impacting the environment in order to create a sustainable economy.”

Why do companies fail to disclose? 

Corporations give various reasons for refusing to disclose their climate, water or other nature-related impacts. Some companies cite the time and resources it takes to complete a CDP questionnaire, while others choose to publish their own sustainability reports instead of going through third parties. But self-published reports can be bias, O’Connor said. 

“The devil is truly in the details, as companies can decide what to omit and what to publish,” he told us. “Will companies put out anything that goes against the narrative of them always making progress?” 

CDP also allows the public to compare companies against others in their peer group in a standardized way that is assessed by an independent third party.

Putting on the pressure

O’Connor thinks chronic non-disclosing companies might not be getting enough pressure from regulators and their investors, but this is changing. “There is clear pressure from regulatory regimes in every part of the world,” he said. “Regulators are paying attention because climate and nature impact the financial security of the world economy. This year, our Non-Disclosure Campaign got 288 signatories to sign on, a quadruple increase from 2017.”

Supporters of this year’s campaign included investors, asset managers, asset owners, insurance companies and other financial institutions. The nonprofit typically sees success because of the direct, simple nature of the requests, O’Connor said. 

“CDP acts as an effective bridge between financial institutions and the corporate world,” he said. “We facilitate meetings that often revolve around companies giving their reasons for not disclosing. Then, investors are able to show the benefits to disclosing. When this happens, we have a high rate of previously non-disclosing companies disclosing the following year.”

As governments around the world move toward standardized reporting frameworks, CDP is working to ensure that the regulations are rigorous and ambitious, O’Connor said.

“CDP came into play 20 years ago because regulation did not exist,” he explained. “We formed the foundation of the ESG [environmental, social and governance] universe that we see today.” While regulated disclosures are a welcome change, “we can also influence these regulations to make sure they do not just go to the lowest common denominator,” he said. 

“It is about more than just disclosure. We want to help guide companies through every step that leads them to being truly sustainable.” 

To see the original post, follow this link: https://www.triplepundit.com/story/2023/corporate-climate-disclosures/777106


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LGBTQ+ Voices in Energy Are Essential for Environmental Justice

20 06 2023

Left to right: Elana Knopp, Zachary Strauss, Avery Hammond, Jenna Patterson and Rashad Williams. Standing at the mic is Stacy Lentz, co-owner of the Stonewall Inn and CEO of the Stonewall Inn Gives Back Initiative (SIGBI). 

By Riya Anne Polcastro from triplepundit.com • June 20, 2023

Representation is an integral factor to bring about real change — especially as it affects marginalized communities. The power industry, which has historically employed an overly homogenous population of white men, could stand to learn a lot from an influx of diverse people and viewpoints. After all, equity of any type can only be achieved when everyone has a seat at the table and their voices are heeded, not just heard.

With this aim in mind, Edison Energy and its LGBTQ+ employee resource group hosted an all-LGBTQ+ panel at the historic Stonewall Inn last week that focused on how to promote queer representation in the energy sector and, by extension, improve outcomes related to climate change and environmental justice.

Continuing the fight

“The Stonewall is hallowed ground for many of us in the queer community,” said moderator Elana Knopp, the senior content writer at Edison Energy, at the beginning of the event. “It’s literally the epicenter of the gay pride movement.” The historic Greenwich Village gay bar was the site of the Stonewall uprising in 1969 that sparked the gay rights movement in New York City and nationwide. 

Renewed efforts by the conservative right to force LGBTQ+, and especially transgender, people back into the closet have heightened the need for this recognition and employee resource groups like Pride in Power. Just as the community’s fight for equal rights faces a massive disinformation campaign from the right wing, so does the fight against climate change, said panelist Brandon Rothrock, an assistant program manager at TRC Companies and board member at OUT for Sustainability, which focuses on mobilizing the LGBTQ+ community for social and environmental action.

The parallel may appear uncanny, as the climate crisis reached emergency proportions in the same timeframe that the Human Rights Campaign declared a state of emergency for LGBTQ+ people in the U.S. It’s the first time in 40 years that the campaign deemed an emergency necessary due to “discriminatory state laws that have created . . . dangerous environments for LGBTQ+ people across the country,” Knopp said. 

Marginalized groups face the brunt of climate change

“One thing that’s been well-documented at this point is that the impacts of climate change have been disproportionately affecting marginalized communities, such as

and people of color (POC),” said panelist Rashad Williams, the director of subscriber services at Groundswell, which focuses on expanding equitable access to clean energy. “And when you combine the two, you start seeing a compounding effect of those impacts.”

Those who are both LGBTQ+ and POC have double the unemployment rate of people who are not in those categories, he said. That rate is triple if they are also transgender. Therefore, they’re more likely to live in low-income neighborhoods, which makes them more likely to experience the negative health effects of pollution and climate change, and less likely to have health insurance.

Perhaps the starkest portrayal of these compounding effects is found among the Guna people, an Indigenous group in Panama who are being forced from their island homes on Gardi Sugdub by rising seas. Guna culture is traditionally gender fluid and matrifocal — customs they could lose as they are absorbed and influenced by the majority Catholic and patriarchal social structure in mainland Panama.

Queer-centered action

It’s important to note that the environmental justice movement owes its inception to the BIPOC community, “the same folks that led the Stonewall uprising,” Knopp said. “The environmental justice movement was basically founded on the principle that everyone deserves to breathe clean air and drink clean water and have access to clean neighborhoods.” 

Still, until recently the movement had not specifically focused on the queer community, she said.

The queer perspective is needed in the energy sector to ensure the switch to clean energy benefits everyone. Changes to infrastructure and access will only be as equitable as they are safe, said panelist Zachary Strauss, a policy analyst at Atlas Public Policy and the founder and president of Out in Energy, a community of LGBTQ+ people in the energy sector. Charging stations have to be in safe locations to be fully accessible, and electric buses won’t do the queer community any good if LGBTQ+ people have to risk their well-being to ride them. 

The energy sector still has a long way to go. Workers in the field report the least confidence in their employer’s recruitment and hiring of members from the LGBTQ+ community compared to other marginalized groups, according to a report commissioned by the National Association of State Energy Officials. Panelists noted a few methods energy companies can utilize to better recruit and retain LGBTQ+ individuals, including mentorships, ERGs like Pride in Power, opportunities to socialize during work hours, inclusive language, and utilizing pronouns that make transgender and non-binary people feel safe as their authentic selves in the workplace. 

Ultimately it starts from the top with a need for leadership to speak out and support the community by investing in the workforce, Strauss said. As well as “retention through affirmation” by ensuring people don’t have to hide who they are in the workplace.

Taking a stand when there are no guarantees 

The clean energy sector does appear to be more conducive to LGBTQ+ employment, but the industry as a whole continues to struggle with anti-queer prejudice. Last year’s Pride in Energy survey found a 40 percent increase in discrimination over 2021.

While allies can, and must, do their part to support LGBTQ+ voices and action, there is no guarantee that power companies will do what’s needed going forward — especially under the current climate in which corporations that have historically presented themselves as allies are backtracking. 

“It’s a little bit trickier making sure that your company takes a stand,” said Avery Hammond, Edison Energy’s senior clean energy analyst. “That’s a decision that’s not left up to most of us — none of us actually.”

This is why it’s more important than ever for allies and LGBTQ+ individuals to speak up, demand better, and reward companies that continue to fight the good fight. True environmental justice depends on it. 

Environmental justice is, after all, a matter of civil rights.

To see the original post, follow this link: https://www.triplepundit.com/story/2023/lgbtq-energy-sector-environmental-justice/776606


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Categories : Climate Change, corporate social responsibility, ESG

ESG (Environmental, Social, and Governance) Investing: A Sustainable Approach for Investors

20 06 2023

By Sanskar Tiwari from newstracklive.com • Reposted: June 20, 2023

In recent years, a significant shift has taken place in the investment landscape. Investors are now not only concerned about financial returns but also the impact of their investments on the world. This has given rise to a new approach known as ESG (Environmental, Social, and Governance) investing. ESG factors are increasingly being considered by investors, focusing on the sustainability and societal impact of companies. The integration of environmental, social, and governance criteria in investment decision-making is a key trend in the share market.

Introduction: Understanding ESG Investing
ESG investing is an approach that takes into account environmental, social, and governance factors alongside financial considerations when making investment decisions. It recognizes that companies with strong sustainability practices and positive societal impact are likely to perform well in the long run.

Environmental Factors
In ESG investing, environmental factors focus on a company’s impact on the natural environment. This includes assessing a company’s carbon emissions, water usage, waste management practices, and renewable energy initiatives. Investors look for companies that are committed to reducing their environmental footprint and mitigating climate change risks.

Social Factors
Social factors encompass a company’s impact on society, including its relationships with employees, customers, suppliers, and local communities. Investors evaluate aspects such as labor practices, diversity and inclusion, human rights, product safety, and community engagement. Companies that prioritize social responsibility and ethical practices are more likely to attract ESG-conscious investors.

Governance Factors
Governance factors pertain to a company’s leadership, board structure, and policies that guide decision-making. Investors assess transparency, accountability, and the alignment of executive compensation with performance. Companies with strong governance frameworks and effective risk management practices are deemed more trustworthy and are favored by ESG investors.

The Benefits of ESG Investing
ESG investing offers several benefits for both investors and society as a whole. By integrating ESG factors into investment decisions, investors can align their portfolios with their values, contributing to positive change. Additionally, companies that prioritize ESG practices tend to be better equipped to manage risks, enhance their reputation, attract top talent, and foster long-term shareholder value.

ESG Investing Strategies
There are different approaches to ESG investing, including screening, integration, and impact investing. Screening involves excluding companies involved in controversial activities, such as tobacco or weapons. Integration incorporates ESG factors into traditional financial analysis to identify companies with superior ESG performance. Impact investing focuses on investing in companies or projects with the explicit goal of generating positive social or environmental outcomes.

ESG Metrics and Ratings
To evaluate a company’s ESG performance, various metrics and ratings systems are available. These assessments provide investors with standardized information to compare companies based on their ESG practices. Examples include the Dow Jones Sustainability Index, MSCI ESG Ratings, and MSCI ESG Ratings and the Carbon Disclosure Project.

ESG Integration in Portfolio Construction
ESG integration involves incorporating ESG factors into the construction and management of investment portfolios. It requires thorough analysis and engagement with companies to understand their ESG risks and opportunities. By integrating ESG considerations, investors can potentially enhance risk-adjusted returns and contribute to a more sustainable economy.

The Role of Investors in Driving Change
ESG investing has the potential to drive positive change by incentivizing companies to adopt sustainable practices. Through engagement and active ownership, investors can influence companies to improve their ESG performance and transparency. Shareholder activism and proxy voting are some of the tools investors can use to advocate for positive change.

Overcoming Challenges in ESG Investing
While ESG investing has gained momentum, it also faces certain challenges. Lack of standardized ESG data, greenwashing, and the subjective nature of ESG assessments can make it difficult for investors to navigate the ESG landscape. However, efforts are being made to address these challenges and enhance the credibility of ESG investing.

Case Studies: Successful ESG Investments
Several case studies demonstrate the potential of ESG investing. Companies that have embraced sustainability practices and strong governance have seen improved financial performance and investor confidence. Examples include renewable energy companies, socially responsible consumer brands, and companies that prioritize employee well-being.

Future Trends in ESG Investing
ESG investing is expected to continue growing in prominence as investors increasingly recognize its importance. The integration of artificial intelligence and big data analytics in ESG assessments, increased regulatory focus on ESG disclosures, and the emergence of green bonds are some of the trends shaping the future of ESG investing.

Conclusion
ESG investing represents a paradigm shift in the investment landscape. Investors are now placing greater emphasis on the sustainability and societal impact of companies. By considering ESG factors alongside financial metrics, investors can align their portfolios with their values and contribute to a more sustainable and equitable future.

To see the original post, follow this link: https://english.newstracklive.com/news/esg-environmental-social-and-governance-investing-a-sustainable-approach-for-investors-emc-sc7-nu384-ta384-1280917-1.html


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Individual ESG Initiatives Empower Change for a Sustainable Future

20 06 2023

Photo: Istock

By Howie Griffiths from goodmenproject.org • Reposted: June 20, 2023

In an era marked by environmental concerns and a growing focus on social responsibility, individuals hold immense power to drive positive change through their everyday choices. By embracing ESG (Environmental, Social, and Governance) initiatives, we can help create a more sustainable future.

This article explores the ways in which individuals can make a meaningful impact by adopting eco-conscious purchasing habits, practicing responsible consumption, and supporting socially responsible companies. Through ESG learning and taking conscious actions, we can collectively create a world that prioritizes sustainability and addresses pressing global challenges.

The Power of Eco-Conscious Purchasing

One of the most impactful ways individuals can contribute to a sustainable future is through eco-conscious purchasing. By carefully considering the ethics and environmental impact of the products we buy, we can support companies that prioritize sustainable practices and reduce our ecological footprint. ESG courses play a vital role in helping individuals understand the importance of sustainable consumption and make informed choices.

Firstly, consider the materials and production processes involved in the products you purchase. Opt for goods made from sustainable materials, such as organic cotton or recycled plastics, which minimize the depletion of natural resources and reduce waste.

Secondly, look for products that are ethically sourced and produced. This includes supporting fair trade organizations that ensure workers receive fair wages and operate in safe conditions. By choosing products that prioritize social responsibility, you contribute to the well-being of communities worldwide.

Furthermore, consider the longevity and durability of the products. Investing in high-quality items that last longer reduces the need for frequent replacements and helps combat the issue of excessive consumption.

Practicing Responsible Consumption

Responsible consumption involves adopting mindful habits that minimize waste and prioritize sustainability. ESG learning equips individuals with knowledge of responsible consumption practices and empowers them to make conscious decisions.

One key aspect of responsible consumption is reducing single-use items. Start by reducing single-use items in your daily life. Replace disposable products with reusable alternatives, such as plastic cutlery and water bottles. By doing this, we greatly limit the quantity of trash that pollutes our oceans or ends up in landfills.

Another important consideration is food choices. Opting for locally sourced, organic, and sustainably produced food not only supports local farmers but also reduces the environmental impact associated with intensive farming practices and long-distance transportation.

In addition, minimizing food waste is crucial. Planning meals, storing leftovers properly, and composting organic waste can all contribute to reducing the amount of food that ends up in landfills, where it produces harmful greenhouse gases. Shop mindfully to avoid overbuying and throwing away excess food. Additionally, consider composting organic waste to minimize its impact on the environment.

Supporting Socially Responsible Companies

Supporting companies prioritizing social responsibility is a powerful way to make a positive impact. ESG learning equips individuals with the knowledge to identify and support businesses that align with their values.

Research companies and brands to ensure they operate ethically and are committed to sustainable practices. Look for certifications such as B Corp, which guarantee a company’s commitment to social and environmental standards.

Support businesses that actively contribute to social causes and community development. Some companies and businesses donate a portion of their profits to charitable organizations or engage in volunteer initiatives. By purchasing from these companies, individuals can support initiatives that make a tangible difference in society.

Additionally, consider a company’s approach to diversity and inclusion. Support companies that value diversity and actively promote an inclusive work culture. By doing so, you help foster equal opportunities and create a more equitable society.

Conclusion

Individuals possess the power to shape a more sustainable future through their everyday choices. We can collectively make a tremendous impact by embracing ESG initiatives, such as eco-conscious purchasing, responsible consumption, and supporting socially responsible companies. ESG learning empowers individuals to make informed decisions and uphold ethical standards. Our choices, no matter how insignificant they are, can create a ripple effect and inspire others to join in our efforts. We can build a future by prioritizing environmental preservation, social responsibility, and long-term sustainability.

To see the original post, follow this link: https://goodmenproject.com/everyday-life-2/individual-esg-initiatives-empower-change-for-a-sustainable-future/


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Measure What Matters: Are You Optimizing Purpose To Uplift Your Workforce?

17 06 2023

IMAGE: YAN KRUKAU 

A first-of-its-kind diagnostic tool is helping companies ensure their purpose supports outcomes including talent attraction and retention, employee engagement, and performance. From Carol Cone via Sustainablebrands.com • Reposted: June 17, 2023

If you spend any time on social media, you’ve probably seen the memes about companies offering their burned-out workers a pizza party. The employees feign joy — as if a few free slices and sodas will make up for long hours, muddled communication, disengaged leadership or having to commute to the office. What employees really want is good compensation; and then, work-life balance. And they also want to feel a sense of purpose at work — whether that’s a personal purpose or being able to say they work for a company that makes the world a better place.

This should come as no surprise to any C-suite or HR leader attuned to the latest research on corporate purpose. Only 7 percent of Fortune 500 CEOs today believe their companies should “mainly focus on making profits and not be distracted by social goals.” Over the past several years, scores of companies have invested heavily in developing and activating a purpose beyond profits. We’ve proudly helped companies ranging from Campbell Soup Company to Quest Diagnostics do just that. Any wise investment needs to be measured and adjusted over time, though; and until recently, there has been no quantifiable way to measure the impact of purpose on a company’s workforce.

Meet EPiQ, or Employee Purpose iQ. We developed this diagnostic tool with our partners at The Harris Poll after releasing our Purpose Under Pressure report last year. From that research, we learned that 90 percent of employees say purpose helps them feel like they’re in the right place during turbulent times; and 84 percent said they will only work at a purpose-driven company. Purpose Under Pressure also showed that purpose is often implemented inconsistently and not deployed in key functional areas. EPiQ helps organizations identify such gaps, while illuminating areas of strength to build upon to ultimately ensure purpose produces returns across the enterprise.

To lay the groundwork for EPiQ — and set a foundation for companies to benchmark against — the Harris Poll team conducted The Harris Poll/Cone Employee Purpose Engagement Survey. We learned that 68 percent of US employees believe it is not enough for companies to just provide quality products and services; they have a responsibility to have a positive impact on society — including employees, customers, communities and the environment. Yet, of the 1,500 respondents, just half believe their employers care about anything more than making a profit.

This research highlights gaps in how employees experience their employers’ purpose initiatives, which should send a strong signal to business leaders that they are losing considerable value by not fully optimizing their purpose. For example, companies whose employees feel “a sense of purpose at work and believe their leaders set clear direction” outperform the stock market by nearly 7 percent, according to Great Place to Work. Further, purpose-driven companies see retention rates 40 percent higher than other companies, according to Deloitte.

EPiQ’s outputs include a detailed dashboard displaying where purpose is performing or falling short. Based on each company’s own segmentation, the dashboard can examine purpose by factors such as role, generation, hybrid/remote status, geography and more. Normative data shows companies how they perform compared to competitors or peers, as well as other industries. All this is delivered in a brief, C-suite-ready presentation, supplemented by high-level recommendations based on our team’s decades of experience in developing, activating and evolving purpose, ESG and employee initiatives.

Ultimately, EPiQ helps companies understand the impact of their investments in purpose related to leadership trust, talent attraction and retention, belonging, performance and influence on decision-making. With this critical baseline, HR and people leaders can understand opportunities for deeper education and behavior change. Wisely evolving purpose to meet the needs of employees can make employees happier, more engaged, and boost performance — all without a single slice of pizza.

To see the original link, follow this post: https://sustainablebrands.com/read/organizational-change/measure-what-matters-optimizing-purpose-uplift-workforce


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Inclusion in Practice: Celebrating Juneteenth, Nurturing Connections

17 06 2023

Photo: Principal Financial Group

From the Principal Financial Group • Reposted: June 17, 2023

Originally published on principal.com

When McKenzie Kerry graduated from the University of North Carolina at Charlotte, a leadership position in a financial services company was very much on her mind. A business management major, Kerry had long sought out extra opportunities and activities, such as DECA, a leadership prep group for high schoolers and college students. “It was my thing in high school. I competed for three years and was president,” Kerry says. “I knew when I graduated, I wanted to find a leadership development program.”

Lots of familiar corporate names entered the post-college job search in her hometown of Charlotte. Then she happened upon a LinkedIn job posting for Principal Financial Group®. “I had never heard of Principal,” Kerry says. “But I did some research and liked what I saw.”

That feeling, along with insights from key people along the way, helped Kerry navigate the Principal® interview, job offer, and eventual relocation halfway across the country to Des Moines. “There was a connection I felt with people I had already met, and the culture felt different,” she says. “I knew I didn’t want to miss out on it.”

As Principal has discovered, nurturing those connections helps support diversity, equity, and inclusion, or DEI, not just in communities and with customers, but also with employees. Those connections are multifaceted: support for Black-owned businesses, measurement of leadership representation, and celebrations old and new, such as the designation of Juneteenth as a Principal holiday.

DEI: From global to local

DEI isn’t a goal with an end point: It’s always on. Principal is continuing the work to increase diversity while making strides in areas such as gender. For example, women first received a seat on the board at Principal in 1980, and a Black woman joined the board two decades ago. Today, 46% of the management team are women.

At Principal, inclusion translates into a work environment that’s:

  • based on integrity, respect, trust, and belonging,
  • attracts and retains diverse talent, increases employee engagement, and develops the next generation of leaders, and
  • is flexible so employees can integrate life and work.

Lofty goals indeed, but how do we know we’re making progress? Measurements can help.

  • Inclusion: The Global People 2022 inclusion index, a measurement of authenticity and feeling valued among other factors, of 82% exceeds the goal of 80%.
  • Leadership: 62% of Board of Director members are diverse in their gender, race, or national origin.
  • Business support: In 2021, Principal committed to doubling the diverse small and midsize businesses it supports by 2025. In just its second year, we met 68% of the stated goal.
  • Global employment: Currently, women make up 54% of the Principal global workforce; 16% in the United States are people of color.
  • Outside recognitions: Principal was recognized as best place to work for LGBTQ+ Equality on the 2022 Corporate Equality Index by the Human Rights Commission Foundation.

Those high-level initiatives become actionable in a variety of ways, including engaging employees through employee resource groups. Internally, the Principal African American/Black employee resource group (AABERG) hosted a virtual discussion reflecting on the history of Juneteenth and sharing practical steps to commemorate the meaning of the day.

The origin of Juneteenth

When the Emancipation Proclamation was issued by President Abraham Lincoln on January 1, 1863,1 the Southern states still under control of successionists scoffed.

Over the next two years, state by state, however, Union forces had an opportunity to put force behind law— except in Texas. It wasn’t until June 19, 1865, that enslaved people in Texas would learn that they too, had gained their freedom.2

Since 1979, Texas has celebrated the anniversary of that momentous day as Juneteenth. In 2021, it became a federal holiday. That same year, Principal marked Juneteenth as an official corporate holiday, and to celebrate the occasion, the Juneteenth flag flew above the headquarters in Des Moines as employees and community members commemorated the day together.

Principal® Foundation also funds a number of external initiatives such a grant to the Cities for Financial Empowerment Fund, which helps entrepreneurs and small business owners improve personal finances, and 1863 Ventures, a national business development non-profit for entrepreneurs that have been historically marginalized.

Nationally, Black individuals3 and specifically Black women4 are becoming first-time entrepreneurs and business owners at one of the fastest rates in the country. Buying from these businesses on, before, and after Juneteenth helps.

Dannie Patrick, another transplant to Des Moines and global inclusion specialist, has volunteered at a past local Juneteenth event. “At Principal, we know that simply observing Juneteenth as a holiday is not enough for our employees. They want to be involved and actively volunteer to make an impact within the communities we serve,” Patrick says.

“Volunteering at Juneteenth Neighbor’s Day is so important to me because it gives me and others the opportunity to see ourselves reflected back in the mirror, which happens less frequently here in Iowa,” Patrick says. “It’s empowering and helps me keep going. Having an employer that acknowledges and supports that is why I am proud to say I’m a Principal employee.”

Candid conversations for a more inclusive future

During Kerry’s formal interviews, “the tone was much different than other companies—very conversational and friendly,” Kerry says. “Everyone gave me the impression they wanted what was best for me. Principal did a great job during the process of making sure I was interviewed by people of color who work here, so we were able to talk about diversity and leadership.”

Kerry started in April 2021 as a leadership development program associate. The early career program rotates associates in months-long assignments across Principal, helping them develop skills for an eventual placement as a leader with direct reports. Kerry relocated to Des Moines in September 2021, leaving behind family and her hometown. There have been challenges. There have been connections. There is still more work to be done.

Fellow employees have helped her acclimate to Des Moines—hard in any situation, harder still when moving to a state that isn’t as diverse as the community you’ve left behind. “It’s taken adjusting, but there are great things this time in my life has to offer,” Kerry says.

That includes competing in Miss Iowa and placing third; Kerry had never competed in a pageant before. It’s also taking advantage of the doors that the leadership development program opens—and working to open more doors for others. “I’ve had people advocate for me, and I want that for everyone,” Kerry says. “Hopefully some of the candid conversations we’ve had can make sure that we can continue to increase and then keep diversity in Iowa.”

To see the original post, follow this link: https://www.3blmedia.com/news/inclusion-practice-celebrating-juneteenth-nurturing-connections?utm_campaign=3blcontent&utm_medium=the_feed&utm_source=3p


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How to Design In-Store Experiences to Guide Shoppers Toward Climate-Friendlier Food Choices

16 06 2023

Image: Coop

Danish grocery giant Coop’s impactful partnership with Krukow Behavioral Design yielded insights for any retailer looking to enlist its customers’ help in reducing food-related carbon emissions.By Jeremy Osborn from Sustainablebrands.com • Reposted: June 16, 2023

Coop is a 1000+-store, member-owned grocery retailer founded and headquartered in Denmark. The popular national food chain has more than 2 million members (almost 1 in 2 Danes above the age of 18 are members!) and thousands of global suppliers, and provides in-store grocery experiences to more than 5 million customers every week. As such, it is uniquely positioned in Denmark to influence sustainable food-shopping behaviors as well as grocery supply chains worldwide.

The retailer is also hard at work addressing climate change — with an ambitious target of garnering 50 percent of its Scope 3 emissions reductions linked to the manufacturing of food via customer behavior change.

In May 2022, the company launched its “Climate Lab” — an initiative for testing innovative approaches to reducing emissions. The initiative was designed in phases, with the first phase being undertaken by Coop independently and the second in partnership with global behavioral science and nudge design experts Krukow Behavioral Design.

As Krukow founder and CEO Sille Krukow and Coop’s Head of Climate, Jonas Engberg, recently shared at SB Brand-Led Culture Change, the first phase of the initiative was a single-store experiment that, amongst other initiatives, involved a total rebranding of the store and introduction of a new core visual identity — as well as labeling 2,200 of the most climate-friendly products in the store to show customers the “most impactful” climate choice across a number of popular product categories. The idea was that presenting “choice-edited” options to customers would empower them to make more climate-friendly choices while shopping.

A brand guide to driving sustainable consumer behavior change

Download SB’s new, free guide to learn how your company can create an advantage in the marketplace through sustainable and innovative solutions that influence consumer behavior. The guide features case studies, a list of other helpful resources, and five actionable steps that brands and marketing teams can take to drive sustainable behavior change at scale.

While this initial experiment produced positive results, the Coop team learned that it needed a more holistic approach to behavior change — which led to the partnership with Krukow. This second phase — built on learning from the initial phase and expertise from Krukow — included store-wide interventions built on strengthening the single, visual vocabulary including vibrant, visual cues and many small, subtle nudges to guide customers towards more climate-friendly shopping choices and an overall climate-friendlier store visit.

“If you ask customers what they want, they will tell you they need better information in order to make better choices. But what they really need is for their environment to guide them towards these better choices holistically. Information is part of this, but it’s not enough on its own,” Krukow told Sustainable Brands®.

In phase two, the group created a “climate journey” through the store that guided and encouraged shoppers to purchase “more green and less red meat;” and with numerous small nudges towards climate-friendlier choices, Coop achieved a remarkable 14 percent reduction in the overall climate impact of shopping choices across all categories in a mere six months, as well as a 67 percent reduction in food waste. Remarkably, customer surveys showed a massive increase in awareness — from 7 percent to 65 percent of customers saying they felt they were being effectively guided to climate-friendly food choices.

Additionally, store data showed that the results did not skew to one demographic and that by creating a program that was, in Krukow’s words, “designed for the human brain” rather than for a specific demographic or target market, the interventions were effective in changing behavior across the board.

Coop found as well that its average shopper basket contains “less meat” on average than other stores.

A scalable success story

With a huge success in one store under their belt, Krukow and Engberg are now planning to scale their interventions to more stores. The phase-two program included 94 different, designed behavioral interventions; and the next step, according to Engberg, is to bring these to more stores.

“Scaling is not a huge cultural challenge for us, because 74 percent of customers have told us they wish to have more guidance towards climate-friendly shopping choices,” Engberg told SB. “And because we’ve shown in this initial pilot that encouraging climate-friendly food choices actually improves the bottom line, there is minimal resistance in the business.

“Staff at the store have been incredibly enthusiastic and have been essential co-creators and co-designers, as well,” he added. “They have the knowledge and the expertise of what works and doesn’t, and what customers want, in their individual stores. And we have a responsibility to make sure they can speak confidently to the initiative when customers ask questions like, for example, ‘why are bananas and avocados a climate-friendly choice? Don’t they have to travel very far?’”

Krukow agreed and emphasized the importance of holistic approaches:

“We’ve shown the power of using a holistic, in-store approach — leveraging employee expertise; and centered on the overall shopping experience that includes labeling, point-of-sale interventions, unified signage design and store layout. We’re excited to see Coop scale these successes across their operations.”

By designing these innovative behavior-led strategies, Coop has successfully engaged customers, improved its brand capital, reduced climate impact across all scopes, and increased profitability. The scalability of this initiative also provides a framework for other retailers to adopt — creating another opportunity to easily enlist consumers’ help to achieve company climate and sustainability goals.

To see the original post, follow this link: https://sustainablebrands.com/read/behavior-change/in-store-experiences-guide-shoppers-climate-friendlier-food


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Climate change is causing people to move. They usually stay local, study finds

16 06 2023
An ornamental palm tree stands in an empty field where there were once houses in Houston. As climate change drives more extreme rain, FEMA says it expects demand for the program to grow in the coming years. Photo: Claire Harbage/NPR

By Rebecca Hersher from National Public Radio • Reposted: June 16, 2023

Most people who move because of climate change in the United States don’t go far, and they end up in homes that are less threatened by the effects of global warming, according to new research. The findings underscore the degree to which climate-related relocation is a hyperlocal phenomenon that can nonetheless protect people from disasters such as floods and hurricanes.

Sociologists at Rice University studied thousands of homeowners who sold their extremely flood-prone homes to the government through a special federal program, administered by the Federal Emergency Management Agency. The program has moved about 50,000 families out of flood zones since the 1980s, and demand for such federal buyouts is growing.

The study is the first to examine where those families ended up living, and it found that most people stayed within a 20-minute drive of their original homes. Most families also moved to homes with lower flood risk, meaning the program successfully accomplished its primary goal.

It makes sense that people are moving only short distances, says A.R. Siders, a faculty member at the Disaster Research Center at the University of Delaware. Most Americans who move for any reason do so within the same county, Siders says. “It’s useful to see that, even when people are moving because of a flood-related program, they are staying close.”

The study casts doubt on the idea that climate change could cause mass migration to places in the U.S. that are less disaster-prone, like New Englandor the Upper Midwest, Siders says.

The findings could also be good news for local officials in places where climate change is already driving catastrophic flooding. The cost of flood damage each year in the U.S. has more than quadrupled since the 1980s, according to FEMA, and the dangers are only growing because of climate-driven extreme rain, more intense hurricanes and rising seas.

In recent years, many local governments have expressed concern that helping people relocate could decimate their tax bases. Knowing that most people stay nearby could help alleviate that concern.

“You can help your constituents reduce their future flood risk without necessarily losing their tax dollars,” says James Elliott, a sociologist at Rice University and one of the authors of the new study, which was published in the journal Environmental Research Letters. 

Asking homeowners to voluntarily sell their flood-prone homes to the government is a crucial tool for reducing damage from floods and protecting people. Through the federal buyout program, the government pays market value for homes at risk and then demolishes them, with the goal of preventing future families from moving into harm’s way. 

Although demand for the program is growing, it has faced a slew of criticism for making homeowners wait years before their buyout is approved and for not making buyouts available to low-income households.

Relocating makes people much safer, the study found. On average families moved to homes with about 60% less flood risk, compared to where they used to live. That’s equivalent to leaving a home that’s likely to flood with a foot or more of water within the next 30 years, and instead moving somewhere with a small chance of a few inches of floodwater over that same time period.

Housing segregation persists as people move because of climate change

The researchers also considered how race affects where people move when they’re fleeing flooding. Race is an important factor in studies of housing in America, because of widespread, entrenched housing segregation. 

That racial segregation shows up in government efforts to help people move away from flood zones. An NPR investigation in 2019 found that majority-white neighborhoods received a disproportionate share of federal funds for flood-related relocation.

The new study goes further, by tracing where residents of those majority-white neighborhoods moved. They found that an overwhelming majority, 96%, of people who started in a majority-white neighborhood also ended up in such a neighborhood after they moved, meaning housing segregation persisted despite migration.

“If you’re moving [away] from a majority-white neighborhood, you almost inevitably and exclusively will only relocate if you can find housing nearby in another majority-white neighborhood,” Elliott says.

The study wasn’t designed to tease apart the reasons for this, although it determined that people did not choose majority-white neighborhoods because those areas have less flood risk overall, or because property values there are higher. Follow-up studies will try to explore why homeowners chose the neighborhoods they did, and how race affected those decisions, Elliott says.

To see the original post, follow this link: https://www.npr.org/2023/06/15/1181693629/climate-change-is-causing-people-to-move-they-usually-stay-local-study-finds


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Almost 40% of consumers say it is “very important” to buy from eco-friendly or sustainable brands

16 06 2023

Photo: Optimove

70% of consumers prefer eco-friendly brands as 64% of brands say they have an environmental responsibility program. From Optimove • Reposted: June 16, 2023

Two recent surveys conducted by Optimove shed light on consumer sentiments towards eco-friendly and sustainable brands. Out of 400 consumers surveyed, a significant 70% expressed the importance of buying from environmentally responsible companies. Notably, 38% of respondents said being environmentally responsible was “very important” to a purchase decision.

In line with consumer expectations, the survey also highlighted the efforts of B2C marketers. Among 233 senior executives, sixty-four percent (64%) acknowledged having an environmental responsibility program. Additionally, 62% of respondents reported actively promoting their company’s environmental initiatives in marketing campaigns.

Conducted in the first half of 2023, the Optimove B2C and Consumer surveys serve as a valuable resource for understanding the evolving landscape of consumer preferences and brand actions. Optimove is a Customer-Led Marketing platform used by hundreds of leading global consumer brands.

Optimove reported it observed at the 2023 CRMC Show on June 7-9 in Chicago that leading retailers are increasingly focused on representing themselves as sustainable and diverse to resonate with their customers.

Pini Yakuel, CEO of Optimove, said, “Today, being environmentally responsible is table stakes for companies. What truly matters is a brand’s ability to engage with each customer on a personal level. While 70% of consumers expect companies to prioritize the environment, 38% of consumers place high importance on this issue. This makes it crucial for brands to effectively communicate their commitment to environmental concerns to those individuals who deeply care. Companies need to infer from their consumer’s data which messages align with individual priorities to meet and exceed customer expectations.”

Yakuel added that meeting the expectations of environmentally conscious consumers is not only necessary but a fundamental aspect of effective customer communication.

About the surveys:
The Optimove 2023 Survey of B2C Marketers queried 221 senior level marketing executives in the second quarter of 2022. The survey was designed by Optimove and fielded by Survey Monkey. Respondents included executives at companies with the following retail models: digital-first multi-brand, wholesale manufacturers, traditional multi-brands, digital-first direct to consumer, and traditional direct to consumer retailers with brick-and mortar outlets. Respondents included CEOs, CMOs and SVPs of marketing.

The Optimove Consumer Survey queried 400 U.S. citizens in March 2023. Respondents were 18-plus, 49% male/51% female (no respondents were non-binary or declined to answer), and household incomes were $75,000-plus.

To see the original post, follow this link: https://www.prnewswire.com/news-releases/optimove-surveys-70-of-consumers-prefer-eco-friendly-brands-as-64-of-brands-say-they-have-an-environmental-responsibility-program-301851861.html


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Will faster federal reviews speed up the clean energy shift?

15 06 2023

NEPA requires federal agencies to analyze environmental impacts of projects like interstate highway construction. Photo: John Bohn/The Boston Globe via Getty Images

Two legal scholars explain what the National Environmental Policy Act does and doesn’t do. By J.B. Ruhl,Professor of Law, Director, Program on Law and Innovation, and Co-director, Energy, Environment and Land Use Program, Vanderbilt University and James SalzmanProfessor of Environmental Law, University of California, Los Angeles via The Conversation • Reposted: June 15, 2023

The National Environmental Policy Act, enacted in 1970, is widely viewed as a keystone U.S. environmental law. For any major federal action that affects the environment, such as building an interstate highway or licensing a nuclear power plant, NEPA requires relevant agencies to analyze environmental impacts, consider reasonable alternatives and accept public input. It also allows citizens to sue if they believe government has not complied.

Critics argue that NEPA reviews delay projects and drive up costs. In May 2023 negotiations over raising the federal debt ceiling, President Joe Biden agreed to certain changes to NEPA reviews, which both the White House and congressional Republicans said would streamline permitting for infrastructure projects. Legal scholars J.B. Ruhl and James Salzman explain these changes and what they mean for protecting the environment and expanding clean energy production.

What kinds of projects typically require NEPA reviews?

The statutory text of NEPA is quite sparse and open-ended. When people speak of what NEPA requires, they really are talking about how the White House Council on Environmental Quality, or CEQ, federal agencies and the courts have implemented the law over the past 50 years. 

The simple requirement is for agencies to create a detailed statement on the impacts of any major federal action that significantly affects the environment. A whole body of law and policy creates filters that sort projects into different NEPA buckets.

First, only projects that will be carried out, funded or authorized by a federal agency are subject to NEPA. That’s a pretty big universe, but it also excludes a lot. For example, a wind farm built on private land by a private utility might not require any federal funding or approval. That means it wouldn’t be subject to NEPA. 

If a project is subject to NEPA, the federal agency that has primary oversight assesses its impacts to decide how much analysis is needed. Many agencies use a classification known as categorical exclusions to winnow out minor actions that they know have no significant impacts, either individually or cumulatively. For example, the Interior Department categorically excludes planned burns to clear brush on areas smaller than 4,500 acres. 

If the expected impacts are more extensive, but it’s not clear by how much, the agency can prepare an environmental assessment. If that assessment finds the impacts to the human environment will not be significant, that’s the end of the NEPA process. 

If the impacts are significant, the agency will prepare a full-blown environmental impact statement, or EIS, which is a far more intensive process. CEQ guidelines establish an elaborate template of topics agencies must evaluate, and the public has opportunities to comment on a draft version. 

A CEQ review of EISs prepared by all federal agencies from 2010 through 2018 found that, on average, it took about four and a half years to issue an EIS, not including added time if someone sued. The lengths of these reviews ranged widely but averaged 575 pages.

Flow chart showing numerous steps in the NEPA process.
A schematic of the NEPA process. NASA

If an agency conducts lots of the same actions under a particular program, such as timber leasing on federal land, it might conduct a high-level programmatic EIS to cover the large-scale issues and then follow up with individual NEPA analyses for specific projects. 

Decisions not to issue an EIS can be challenged in court. So can the EIS itself if critics believe that it’s inadequate.

What are NEPA critics’ central arguments?

Critiques of NEPA come from many different interests. The law mainly affects land development, industry and resource extraction activities such as logging, mining and drilling for oil and gas, particularly on federal public lands. 

NEPA requires an impact assessment, but it doesn’t prescribe any particular outcome. Still, it unquestionably can add substantial time and cost to any significant project. If a project is controversial, interested parties can submit public comments that get their views on the record. If opponents aren’t happy with the final EIS, they can sue the agency responsible for the decision in federal court. 

Between agency review and litigation, NEPA can add many years to a project’s development timeline before it is “shovel ready.” For example, it takes roughly four to seven years to complete environmental reviews for prescribed burns that the U.S. Forest Service carries out to reduce wildfire risks.

Supporters argue that NEPA reviews have avoided many bad decisions. In our view, the NEPA process is an important feature of the country’s stewardship of its natural resources. But we also share the growing concern that it can be used to delay building renewable energy infrastructure that the U.S. urgently needs to mitigate climate change. 

Did the debt ceiling agreement significantly change the NEPA process?

Many of the changes are little more than tweaks. Others codify long-standing practices based on how the Council on Environmental Quality, agencies and courts implement the law. 

One notable change is requiring a single lead agency and a single environmental impact statement for projects, even when those projects require multiple agency approvals. There also are some new time and page limits. For example, environmental impact statements will be required to be completed within two years and be no more that 150 pages long for most projects, and 300 pages for the most complex projects. 

There also are some changes to definitions, such as what constitutes a “major federal action,” that narrow NEPA’s scope to some degree, although it will take time to sort out their meaning. Overall, we do not see these changes as a major overhaul of NEPA. 

A dredge deposits crushed shells off a floating platform.
The U.S. Army Corps of Engineers places crushed shells in Maryland’s Tred Avon River as part of efforts to restore the Chesapeake Bay’s historic oyster reefs. After a 2009 NEPA review spotlighted risks associated with the proposed use of disease-resistant imported Chinese oysters, native oysters were used instead. Sean Fritzges, U.S. Army/Flickr

Will the changes speed up work on clean energy systems?

Maybe, but not nearly as much as needed. First, NEPA applies to projects that need federal funding or approval, such as under the Endangered Species Act. Getting that money or agency green light can also involve delays and litigation independent of the NEPA review.

Second, many state and local laws can affect large renewable energy projects, and those statutes can also be used to slow projects down. The bottom line is that to move the needle, politicians will have to do more to reform the project review process.

The debt ceiling agreement left several big questions unaddressed. They include where to build high-voltage electric transmission lines; which federal public lands and offshore waters can be used for power lines and renewable power production; and where to mine for essential minerals. Beyond those immediate priorities, if carbon sequestration technology can be developed and scaled up, the U.S. will need an enormous buildout of carbon capture and storage infrastructure to meet net-zero goals.

All of these involve incredibly complex permitting processes, and tweaking NEPA won’t change that. Other hot-button issues – including federal preemption of state and local laws, impacts on Native American cultural lands, and environmental justice – will make further permitting reforms politically difficult. 

Even this first small measure was hotly contested, and happened now only because it was tied to the debt limit legislation. As the inclusion of federal approval for the Mountain Valley gas pipeline in the debt ceiling agreement shows, in politics you need a quid in exchange for a quo. We expect to see a lot more deal-making if Congress takes permitting reform seriously.

To see the original post, follow this link: https://theconversation.com/will-faster-federal-reviews-speed-up-the-clean-energy-shift-two-legal-scholars-explain-what-the-national-environmental-policy-act-does-and-doesnt-do-207164


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Why It Makes Sense for Companies to Scale Back Unrealistic Net-Zero Targets

13 06 2023

Demonstrators at the 2020 March for Science in New York City. (Image: Chris Boese/Unsplash)

By Amy Brown from Triple Pundit • Reposted: June 13, 2023

With growing evidence that nearly all companies will miss their net-zero targets unless they double emissions-reduction rates, some companies are biting the bullet and revising their targets. But that’s not necessarily a bad thing, as long as the new goals  are backed by action.

Comfort shoe manufacturer Crocs drew attention for pushing back its commitment to achieve net-zero emissions by 2030, after its emissions increased by more than 45 percent last year compared to a year earlier. The company now aims to reach net-zero by 2040 instead. Oil giant BP also recently lowered its 2030 emissions reduction goal, from a range of 35 percent to 40 percent in the initial target to 20 percent to 30 percent as of February. 

These companies are not outliers. More than 60 percent of the companies surveyed in a 2022 Accenture report have set targets far into the future or have no clear target date.

Coming clean on out-of-reach net-zero targets is a likely situation for many more companies as they get closer to 2030 or 2040 milestones on reducing their greenhouse gas emissions in line with global agreements to limit climate change. There are many reasons why companies might revise their targets — for example, a mismatch of ambition with the reality on the ground and slower-than-expected progress, or more accurate carbon accounting.

Ultimately, net-zero targets are only as good as their implementation plans. 

Investors want transparency 

The good news is that more companies are aiming for net-zero, even if they haven’t discovered the best path to get there. “Net-zero commitments now cover one-fifth of the world’s largest corporations and 68 percent of global GDP, compared to 16 percent in 2019,” according to the World Resources Institute.  

Setting net-zero targets can be tricky, as Crocs and other companies have discovered. There is no standardized approach for setting a net-zero target, leading to a lack of transparency on the scope and boundary of the targets and how organizations will reach them. From that perspective, companies owning up to a target that can’t be met isn’t necessarily a bad thing.  

“Many companies, even some of the leaders, are seeing gaps between where they can go with current strategies and initiatives and where they need to get to,” Meryl Richards, director of food and forest at the sustainability nonprofit Ceres, told TriplePundit. 

Some companies have opted to set ambitious targets and figure out how to meet them as they go, while others prefer to know exactly how they will get there before making a commitment, Richards said. “I don’t think one is necessarily more valid than the other. We need companies that are comfortable getting out in front and being leaders and setting the standard and encourage that ambition.”  

Given the need for ambition in the short term, she doesn’t think it’s a terrible thing for companies to adjust course as they go — as long as they stay on track to limit global warming to 1.5 degrees Celsius. “What investors are looking for is transparency around why a company had to adjust its net-zero strategy,” she said.

What would cause concern is if a company had to continually readjust its targets because it was experiencing growth. “That’s where the forward-looking strategy is really needed to plan how you’re going to integrate your emissions reduction strategy with that growth,” she explained. 

Why companies need a climate transition action plan

All of this trial and error is why investors want to see climate transition action plans, Richards said. “What investors are looking for [are] ambitious, science-based targets for companies to reduce their own emissions and an action-oriented plan for how to get there.”

Climate transition action plans, also known as transition plans, clearly define how companies will take action in the near-term to meet the long-term goals necessary to limit global warming. In 2022, Ceres, the We Mean Business Coalition, CDP, the Environmental Defense Fund and Ramboll Consulting created a framework to help companies create and implement these transition plans. 

Defining a clear path forward with transition planning can help to avoid a “scenario as we had with 2020 deforestation targets, where a number of companies committed to zero deforestation by 2020 and none of them met that goal because they didn’t have implementation plans,” Richards said. “It was a target with no plan behind it.”

Yet a recent Ceres study indicates those lessons are not yet being applied to net-zero targets. In a March assessment of 50 large food companies, Ceres found only 27 had plans in place to reduce their Scope 3, or value chain, emissions. None of them hit all the marks for climate transition planning in their disclosures, according to the analysis. 

How to ensure real net-zero progress

Along with setting science-based targets, companies need to integrate their climate strategy across every aspect of their operations to ensure realistic progress toward those targets, Richards said. 

“For example, when we get on a call with a company to discuss a climate transition action plan, and they’ve got representation from procurement, [research and development] and sustainability, we know they’re serious about it,” she said. “The leading companies are getting granular about their sources of emissions,” and they’re transparent about gaps and how they will bridge them.

“Along the way, companies also discover opportunities like meeting consumer preferences for lower-emissions products,” she said. “Having the right plan in place is what will help companies avoid 2029 backpedaling.”    

To see the original post, follow this link: https://www.triplepundit.com/story/2023/companies-push-back-net-zero-targets/776341


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Measuring & Improving Brand Portfolio Sustainability to Meet the Demands of a Changing Market

9 06 2023

IMAGE: АННА РЫЖКОВА 

From Sustainable Brands • Reposted: June 9, 2023

The complex issues facing business and society demand complex and collaborative solutions; disconnected, myopic management techniques are no longer effective.

Brands are adapting to a rapidly changing market in which customer demand for sustainable products and services continues to grow. In order to remain competitive, they must prioritize innovation while simultaneously juggling the multitude of tasks required to make it happen. Companies of all sizes are finding new ways to stay relevant in this ever-evolving landscape, and working hard to innovate and create sustainable solutions that will remain attractive to customers in the near and long term. It can be a difficult balancing act, but one that more and more companies are successfully managing.

Sustainable Brands (SB) Socio-Cultural Trends Research™ reveals that 70 percent of US consumers are looking for companies to provide sustainable products or services that will help them to live more sustainable lifestyles. Further, 78 percent say they will support companies that act sustainably by purchasing its products or services; and 73 percent report that, all else being equal, they would switch brands if a competitor offered a more sustainable version of the same product. The market is rewarding businesses that are acting on social and environmental challenges while simultaneously building brand trust in the process. It is imperative for today’s leading brands to implement industry tools that allow them to seamlessly embed sustainability across its organization.

As a health and wellness company, The Clorox Company recognizes the potential of its diverse portfolio of brands to touch people’s lives throughout every part of their day. Through its Sustainability Center, the company launched its 2030 strategy with the ambition to have every brand within its portfolio play a part in creating a more inclusive and sustainable world. To achieve these goals, Clorox needed to find a way to align its brand teams across the enterprise and engage consumers in storytelling strategies that would unlock higher brand performance and value.

To establish its baseline and create a common language, the company applied the SB Brand Transformation Roadmap® (SB Roadmap) at the brand level across the enterprise. The self-assessment revealed best practices and gaps across the SB Five Pillars of Brand Sustainability™ while also offering tangible targets to prioritize on its journey to becoming a sustainable enterprise. This tool allowed each of the brands to benchmark its current operational progress and then determine the actions each brand needed to take to advance its individual aspirations. Clorox says giving the technical teams the ability to own their individual Life Cycle Analysis (LCA) process was a huge win for garnering buy-in across the teams.

The process revealed that the Governance pillar was something that needed to be centrally managed, where subject-matter experts have the ability to standardize their overarching enterprise goals and business practices. The SB Roadmap process also motivated Clorox to identify specific emotional, functional and societal values to prioritize in its product development and marketing communications to take its brand influence with consumers and other stakeholders to the next level and beyond — including representation in public-policy positions and driving systemic change throughout the industry.

Implementing the SB Roadmap across the enterprise enabled The Clorox Company to:

  • Create cross-functional alignment on individual brand baselines and aspirations within the SB Roadmap framework
  • Streamline its process on how to benchmark and achieve its sustainability goals
  • Elevate the role and priority of sustainability messaging through both responsible ingredient sourcing and sustainable packaging choices
  • Receive increased earned media coverage for individual brands

“What we love about the SB Brand Transformation Roadmap® is it’s a self-assessment tool that helps a leadership team in our business units understand where the brand is on the journey and break down the steps to get from here to where they aspire to be.”

— Eric Schwartz, Chief Marketing Officer, The Clorox Company

Clorox’s central team has hosted 13 internal workshops to introduce the SB Roadmap into its business processes and to embed it into its annual strategic sustainability planning for every business unit across the portfolio. Through this transformative process, Clorox has fostered a culture of sustainability across its enterprise — allowing the teams to take a whole-systems approach to product design and innovation with an understanding of how they each contribute to the larger mission of the company.

In order to thrive in an increasingly challenged world, brands must quickly adjust their strategies away from the traditional ‘business as usual’ approach. Complex issues demand complex and collaborative solutions; disconnected, myopic management techniques are no longer effective.

To see the original post, follow this link: https://sustainablebrands.com/read/product-service-design-innovation/measuring-improving-brand-portfolio-sustainability-demands-changing-market


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1.5 Percent of Corporate Profits Can Transform the Fight Against Climate Change

8 06 2023

Image credit: Mika Baumeister/Unsplash

By Abha Malpani Naismith from Triple Pundit • Reposted: June 8, 2023

The current narrative on climate action puts the world in a bind. On one side, present-day action is considered inadequate to achieve the global warming limit of 1.5 degrees Celsius determined by the U.N. On the other side, there is increasing debate over whether that limit is even attainable.

This narrative is dubbed the “doom loop” in a recent report from the U.K.-based think tanks Chatham House and the Institute for Public Policy Research (IPPR). In the doom loop, the focus on crisis consequences and failure to reach targets takes away from the focus required to implement solutions.

In order to move forward, the narrative needs to quickly change to one that encourages action. TriplePundit spoke with Saskia Feast, managing director of global client solutions at Climate Impact Partners, about how collective private-sector action can help to catalyze that change — starting with Fortune Global 500 companies. 

We don’t need large investments to create change 

Fortune Global 500 companies made more than $2.2 trillion in annual profits over the last three years, according to a recent report by Climate Impact Partners. Investing only 1.5 percent of that — about $33.5 billion — to fund carbon reduction projects like forest conservation, reforestation and micro-renewables would be a massive step toward achieving the transformational change required to hit global climate action targets.

On average, each Global 500 company made $6.7 billion over the last year, according to the report. Committing 1.5 percent of those profits ($100 million) could cut 7.8 million tons of carbon emissions, plant 60,000 trees and protect 120,000 hectares of forest. If every company in the index did the same each year, it would amount to more than 2.6 billion tons in carbon reductions — even more than what scientists say is necessary to cap global temperature rise below 2 degrees Celsius. 

To put this corporate expense into perspective, on average the world’s largest companies spend 12 percent of their annual profits on research and development, 27 percent on sales and administrative expenses, 8.7 percent on marketing and 8.2 percent on information technology, according to the report. 

Offsets or no offsets?

For more than 20 years, Climate Impact Partners has worked with businesses to support over 600 carbon removal and reduction projects in 56 countries. But its work faces criticism around carbon offsets. 

“There is a lot of criticism of the companies who are taking action around offsetting carbon emissions and this idea that it is greenwashing,” Feast said. “By not criticizing the companies that are not taking action, those companies are feeling safer.” 

Saskia Feast, the managing director of global client solutions at Climate Impact Partners.
Saskia Feast, managing director of global client solutions at Climate Impact Partners. Photo courtesy of Climate Impact Partners.

Inaction on climate change could cost the global economy $178 trillion over the next 50 years, or a 7.6 percent cut to global gross domestic product (GDP) in the year 2070 alone, according to a recent report from the Deloitte Center for Sustainable Progress. 

Carbon offsetting is a long-debated method for companies and other large emitters to get involved. Supporters claim it is effective in reducing greenhouse gas emissions while conserving natural resources in sectors like transportation, energy and agriculture.

Some critics dismiss the practice as a flawed system that has negligible impact on reducing emissions. They argue offsets are generated by projects that enable polluting industries to continue their harmful practices. 

When a company first starts its carbon-neutral journey, it might need to offset a higher proportion of emissions, Feast said. But putting a price on it forces emission reductions over time. 

“Once you start putting a price on carbon, you start measuring it and looking for strategic ways to reduce it,” she said. “That helps you drive the internal reduction strategy or the adoption of renewable energy within your organization. The role of the offsetting market is just to help transition us to the low-carbon economy.”

The number of companies using, or planning to use, an internal carbon price increased by 80 percent over just five years, according to a 2021 report by the environmental disclosure management nonprofit CDP. 

The return on sustainability investments

Today, financial success and sustainable practices are increasingly tied to each other. “The business of sustainability reporting has improved dramatically over the last 20 years,” Feast said. “What we’re seeing now is companies including those metrics in their annual reports, like a carbon footprint or water use risk. So, the metrics are merging, which is a great development in the market. We’re seeing sustainability leaders, who are our clients, now working directly with investor relations, their CFO and financial teams.” 

The business case is stronger than before as company sustainability measures impact reputation, market value, and overall ability to attract and retain employees. And now there are many carbon footprint and ESG measurement tools that enable business leaders to truly consider how their operations impact people and the planet. 

Smaller companies can fight climate change, too

Investing in carbon reduction and removal is for every company — small, medium or large. Smaller companies that want to act don’t need a grand plan, Feast said. They can start making decisions in incremental steps like measuring their footprint, supporting renewable energy, making climate-friendly products, and discussing the price of carbon on their business.  

“We want to encourage companies to take action,” she said.”Get out there, start taking your steps and maybe one day run a marathon.”

COP28 Global Stocktake: Tracking progress to 1.5 degrees Celsius

As the baton moves from climate technicians to politicians at the COP28 Global Stocktake, which is also commented on with skepticism, policies driving increased financing of climate action could make a significant impact.

Emerging markets and developing economies must collectively invest at least $1 trillion in energy infrastructure by 2030 and $3 trillion to $6 trillion per year across all sectors by 2050 to mitigate climate change by substantially reducing greenhouse gas emissions, according to the International Monetary Fund.

An additional $140 billion to $300 billion a year is needed by 2030 to adapt to the environmental consequences of climate change, such as rising sea levels and intensifying droughts. This could skyrocket to between $520 billion and $1.75 trillion annually after 2050 depending on how effective climate mitigation measures are.

“One of the most important things is to move away from talking about climate financing — and actually doing the financing,” Feast said. “The more money we can put to finance these projects, the more we will be reducing emissions going forward.”

To see the original post, follow this link: https://www.triplepundit.com/story/2023/corporate-profits-climate-change/775241


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How Brands Can Step Up to Better Support LGBTQ Employees

8 06 2023

Image credit: Jose Pablo Garcia/Unsplash

By Mary Mazzoni from Triple Pundit • Reposted: June 8, 2023

Pride Month is meant to be a joyful celebration of the LGBTQ community and a rallying cry for justice and inclusion. But this year’s celebrations are dampened by a disturbing rise in anti-LGBTQ legislation and rhetoric across the United States. Considering a third of our lives are spent at work, employers have a significant role to play in creating safe and inclusive spaces for people in the community who feel increasingly under attack. 

The explosion of anti-LGBTQ legislation runs counter to public opinion 

The American Civil Liberties Union (ACLU) is tracking 491 pieces of anti-LGBTQ legislation making their way through statehouses across the country. The scope of these bills include weakening anti-discrimination laws, censoring discussion of LGBTQ issues and history in schools, restricting gender-affirming care for transgender people, and banning LGBTQ gatherings like drag shows.

As state lawmakers look to push this type of discriminatory legislation through, many have adopted increasingly extreme anti-LGBTQ rhetoric. Groups of their fans and followers have done the same, in person and online, including a coordinated campaign against brands promoting inclusion during Pride Month. 

The surge in discriminatory legislation and rhetoric could lead people to believe the public’s attitudes have shifted when it comes to welcoming and including people in the community. But data indicates that’s far from true.

Recent polling from GLAAD and the Public Religion Research Institute (PRRI) found that support for equal rights is increasing, not decreasing. In the GLAAD survey, 91 percent of non-LGBTQ Americans agreed that LGBTQ people “should have the freedom to live their life and not be discriminated against,” and 84 percent support equal rights for the community. Similarly, 8 in 10 respondents to the PRRI survey are in favor of laws that shield people in the community from discrimination. 

Support for equal rights for the LGBTQ community is at an all-time high GLAAD survey shows
(Source: GLAAD)

The discriminatory climate is taking a toll on LGBTQ people at work 

A study released last week by Indeed sheds light on how discriminatory policies and rhetoric are affecting LGBTQ people in the workplace. The majority of LGBTQ respondents (60 percent) report experiencing discrimination at work, ranging from being passed over for promotions and raises to outright harassment and violence. More than a quarter of LGBTQ people, including over 30 percent of trans people, say they are not out at work. 

“This climate of fear and intimidation comes on the heels of hard-earned fights for employers to do better by LGTBQ+ communities,” journalist S. Mitra Kalita, CEO of URL Media, wrote on Charter this week. “That’s all at risk as literally hundreds of bills seek to obliterate the existence of our colleagues.”

She spoke with three LGBTQ and workplace experts about what brands can do to better support their employees. The results are insightful and well worth a read in full. “Work continues to be a major source of stress for LGBTQ+ professionals, especially with rising anti-LGBTQ+ legislation which has a direct impact on access to economic opportunity,” Andrew McCaskill, who works on LinkedIn’s communications team and authors The Black Guy in Marketing newsletter, told Kalita. 

So, what are other leaders saying about what brands can do to support employees better? 

How brands can step up to better support LGBTQ employees

Offer LGBTQ-specific benefits. Over half of LGBTQ employees want to see benefits that are specific to their community, but less than a quarter report having any in their current workplace, according to Indeed’s survey. Benefits employees are seeking include health insurance that covers LGBTQ-friendly providers and gender-affirming care, benefits that extend to domestic partners rather than solely spouses, mental health benefits, and paid caregiver leave. 

In many cases, these are benefits employers already offer, but they haven’t modified them to be inclusive of all their employees. In its guidance for LGBTQ inclusion in the workplace, the Society for Human Resource Management (SHRM) — which represents 325,000 HR professionals across 165 countries — recommends employers revisit their policies and practices to ensure they are equally available to all employees. 

Check your culture. Creating inclusive benefits packages and corporate policies is an important baseline, but “having a written policy isn’t enough,” SHRM’s guide reminds employers. “Even if an employee is in a workplace with internal policies that protect LGBTQ+ workers, a company’s culture may inhibit employees from bringing their whole selves to work.” 

LGBTQ-specific diversity training — another benefit highlighted by employees in Indeed’s survey — is a solid first step for educating your teams about how to avoid, spot, and stamp out microaggressions and discrimination against their colleagues. So is setting clear, values-based expectations for employees, such as respecting others. Even dress codes can set the tone for how people show up at work. “Make sure they are neutral without gender stereotypes,” SHRM recommends. “General Motors gained national attention when CEO Mary Barra replaced a 10-page dress code with two words: Dress appropriately.”

Lift up diverse leaders. “If employees are hearing from the same types of individuals, they’re seeing that a clear mark of success [to their employer] isn’t someone who looks or sounds like them,” Sabrina Kent of the National LGBT Chamber of Commerce told the Story Exchange.

When recruiting, make it clear that your company is an equal opportunity employer, and ensure you interview and consider diverse candidates rather than quickly deciding on someone who looks and lives like you. Do the same when choosing who will head up projects, present during meetings and lead teams. The more you lift up leaders from all backgrounds, including LGBTQ people and those from other historically marginalized communities, the more your employees get the message that you want every one of them to succeed. 

Use your marketing to raise awareness. Your company’s voice matters in the fight for inclusion. In its recommendations for corporate allies, GLAAD calls on companies to use their marketing materials and social media to speak out against discriminatory legislation and support “Pride 365,” running inclusive campaigns throughout the year rather than solely during Pride Month. Even better, engage LGBTQ-owned media companies to help you get the message out. 

Flex your political muscles. “Extend support to the political fight,” GLAAD challenges business leaders. “True corporate allies do not donate to candidates or elected officials who introduce, vote yes, or otherwise support  anti-LGBTQ legislation or block passage of pro-LGBTQ legislation like the Equality Act.” 

Beyond revisiting your political donations, GLAAD called out Apple as an example of how companies can step into the role of political ally. “Amidst an unprecedented wave of anti-LGBTQ legislation in 2022, Apple utilized multiple offices to take action. Apple lobbied against these harmful bills, filled court briefs in cases involving LGBTQ people, and encouraged other large companies to take public stands against this legislation,” GLAAD observed. 

The bottom line

LGBTQ employees work day in and day out to make their companies successful, and with discrimination on the rise, employers have a responsibility to them.

Failing to live up to that responsibility tells employees — whether they’re part of the community or not — that your company ignores or tacitly approves of an increasingly hostile climate that threatens people’s well-being. Decision-makers at any company that claims to lead with values and purpose certainly wouldn’t want to send that message. And with leaders creating clear blueprints for inclusion, there’s really no excuse for companies not to do better. 


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Categories : ESG, reputation management, sustainable branding, sustainable brands

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