“Companies are really recognizing that this concept of greenwashing, and these bold ambitious assertions that they can’t back up, that’s no longer, that’s not transparency. That is risk, and that exposing an organization to very concrete reputational and other risks….I think it’s all about transparency driving trust, but it has to be credible, it has to be authentic and it has to be meaningful.” Kristen Sullivan, Deloitte Sustainability Compliance on Electric Ladies Podcast
A new report from the Journal Nature Climate Change reports that 85% of the world’s population is negatively affected by climate change. With that report and the big UN Climate Conference known as COP26 coming up in days – and President Biden’s infrastructure bills moving through Congress – we have been focusing on risk and the changing role of companies in society.
So, what do companies really think about their role today and how to report on it, called ESG reporting for environment, social and governance?
Listen to Kristen Sullivan, head of Deloitte’s Sustainability and Supply Chain Social Compliance Services talk about it with Electric Ladies host Joan Michelson in this important and engaging interview. The management consulting firms have a unique perspective on this, because they analyze trends and advise companies across industries.
You’ll hear about:
- The need companies have to define the attributes of ESG that drive performance “in a data-driven way” so they can “evaluate long term value”?
- The critical role of transparency, primarily to build trust, and how and why companies can struggle with it.
- The impact of the rapid increased prioritizing of ESG from a “nice to have” to “must have,” especially over the past couple of years due to the confluence of covid, George Floyd, and climate change.
- How companies now have a broader definition of what drives risk including “financial risk, operational risk, reputational risk” and how they can systematically integrate those factors to find seize opportunities.
- Plus, insightful career advice ….
“And I think that especially through a broader, sort of ESG-purpose lens, that establishing a competency in a business context (is important in your career), whether that’s marketing or finance or supply chain or operations, whatever it is, and layering on a differentiated perspective – whether it’s climate risk, whether it’s societal consideration – to really be able to deliver on that traditional competence but at such a higher level, and through that value-enhancing lens.” Kristen Sullivan on the Electric Ladies podcast
Read Joan’s Forbes article with insights from this interview here too.
You’ll also want to listen to:
- Anne Kelly, VP of Government Relations at nonprofit Ceres, which helps businesses and policy come together for the planet and people, as well as the economy
- Michele Wucker, thought leaders and author of “You Are What You Risk: The New Art & Science to Navigating an Uncertain World.”
- Lisa Jacobson, Business Council for Sustainable Energy, on the impact of covid on energy and transitioning to a clean energy economy
- Kathleen McQuiggan, 30-year wealth management expert specializing in ESG investing, especially for women.
- Olivia Martin, USAFacts data scientist, on their State of the Earth 2021 report.
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