Managing risks and creating business opportunities
Some years back, companies began developing strategies around environment, social and governance (ESG) issues to manage risk and drive reputational value – what would seem to be a win-win strategy.
In any good book of ESG best practices, one of the first steps for any business is to undergo a materiality assessment. This is an exercise performed once every two to three years whereby a company engages with stakeholders to identify shared priorities and understand the impacts of their business.
Over the course of the 2020 election and leading up to the inauguration, President Joe Biden laid out a sweeping agenda to address climate change using all levers of government. With Democrats settling into a razor-thin majority in the Senate, however, passing an ambitious legislative package through Congress may be an uphill battle.
Each year, Climate Week NYC is a key moment for leaders from business, government, civil society and more to come together, take stock of the global fight against climate change and unveil new commitments to spur action.
For those of us working on sustainability issues, Climate Week is a big deal. As one journalist put it to us this year, it’s “like Christmas/Valentine’s Day/New Year’s/Super Bowl combined in our space.”
Whether it’s in Super Bowl ads or annual financial reports, employee communications or job interviews, companies big and small are talking about how they’re working to address societal challenges.
“What is the most important thing for a company? Is it the cash flow? Is it the inventory? Nuh-uh. It’s the people.” As fans of the mockumentary “The Office” know all too well, Michael Scott, regional manager of Dunder Mifflin, Scranton, wasn’t right about a lot of things. But I believe he was right to suggest that a talented and motivated workforce is the key ingredient for a successful business.