Page 11 – Sustainability Academy

How feasible is it for corporate leaders to understand the correlations between a comprehensive corporate responsibility strategy and the financial benefits? Investors on the other hand understand more clearly csr is not just a box to tick on a disclosure form.

Leading organizations globally seem to better understand the financial impacts of their corporate responsibility strategies. They act upon a corporate responsibility strategy as a key element for best management practices that can improve business performance and financial outcomes.

Back in 2018, CSE’s research Sustainability (CSR) Reporting Trends in North America 2017 was presented in New York City, Toronto and Tokyo during CSE’s Global Certified CSR (ESG) Practitioner Physical Program there. Based on the research findings, CSE’s Research Department had identified correlations for the first time between Sustainability and CSR Reporting and Strategy, and Corporate Financial results that brought the attention of North American media with several publications.

Nikos Avlonas, president and founder of CSE was interviewed by Forbes, which focused on this unique research. You can read the full interview here: Sustainable Reporting: Lessons From the Fortune 500.

Read more: Forbes

The last few months, disruptions brought by the COVID-19 pandemic have accelerated the efforts to promote sustainability and CSR across a broad range of industries. Stakeholders from the private and public sector alike have voiced their support for a sustainable recovery. Research shows that C-suite leaders seem to share a consensus on what constitutes material sustainability and csr strategies in their sector. But to fully and accurately assess the financial impact of sustainability efforts, investors and managers need to follow through to examine not just the strategy, but also the methodology (how a strategy was implemented) and the benefits that produced. These are exactly the positive outcomes that companies must begin to monetize and report the intangible and tangible benefits of ESG investments.

At the same time more than 2.000 studies found positive correlations between good ESG performances, stock price, cost capital and operational achievements. The link between ESG practices and financial results has clear implications for corporate decision-making process. Several frameworks have been developed recently to better integrate ESG data, financial analysis and csr reporting.

The Center for Sustainability and Excellence (CSE) is a leading boutique firm operating globally that specializes in maximizing your social, economic and environmental impact. For more than a decade, we have been helping professionals advance their careers through our certified on-site, online and group training services globally and supporting FORTUNE 500 companies and other organizations to grow and excel through our specialized consulting services, and our unique methodology, which has been successfully applied to more than 100 organizations globally, which allows successful integration of CSR and significant improvement of ESG performance.

As CSE’s research department continues to provide valuable insights into various aspects of CSR and ESG performance, it furthers its commitment to high caliber, up-to-date, training in sustainability for C-Suite executives & Sustainability and CSR Managers worldwide, the training department is ready to deliver the next digital Certified Sustainability (ESG) Practitioner Program in November 3, 4 & 5, 2020. The Program focuses on all the challenges that professionals have to face in the field of Sustainability and Corporate Responsibility Strategy, Supply Chain and Corporate Communications.

Don’t miss out on the early bird 10% discount.

For more information reach us at info@cse-net.org

By Nikos Avlonas

President CSE

Bravo to companies’ incorporating sustainability. The effort is noble and daunting. Often executives address first the environment, social and governance (ESG) issues most important to them. Other times, they delegate sustainability to a manager. An executive might be highly motivated to engage the community. A former HSE manager, now in charge of sustainability, might emphasize safety. Both are noble pursuits, but are they relevant to investors?

According to the 2018 Edelman Trust Barometer Special Report: Institutional Investors, 66 % of U.S. investors altered their behavior to incorporate ESG risks just in 2017. Investors rely on ratings agencies which look at those ESG aspects of a company with financial relevance, i.e., most material. If a company is putting resources into issues material to the company but not to investors, this can become an enormous waste of time – and resources.

ESG factors relevant to market performance vary from industry to industry. An airline is going to consider fuel efficiency both for financial reasons and to limit its carbon footprint, more so than an accounting agency. If the airline reduces fuel consumption, its financial performance, ESG rating and hence share price benefits. The accounting firm can reduce energy consumption by the same percentage and little will change in the market.

Whether you get your performance advice from Morning Star, Edelman, Bloomberg, Harvard (with research showing, “material issues are the most promising signal” informing investment decisions based on ESG criteria), or hundreds of other resources, you can no longer questions the value of ESG material issues to your bottom line. This begs the question, what is material? The answer sits with your most influential stakeholders, not just your shareholders or your C-suite, though these are important voices.

Only a materiality assessment, based on guidelines such as the GRI and industry benchmarking surveying stakeholders which have been carefully identified as having the most influence on company decision making, can provide a weighted list of those issues most material to your company and hence your bottom line.

The stronger the balance sheet, the stronger the rating. The lower the material risks, the stronger the rating. The more transparent the company in its reporting, the stronger the rating.

POSSIBLE ENDING – DO NOT USE BOTH

One of the best actions a company can take is training on sustainability issues, how to identify and assess stakeholders then prioritize material issues. The training is the first step in an iterative process. Check out CSE’s free first module of the Online Certificate on ESG Performance for Professionals and Investors, or in response to COVID-19, the Certified Sustainability (CSR) Practitioner Program, Advanced Edition 2020, October 2-5 and 6, DIGITAL VERSION.

As most of the cities around the globe enter the reopening phase or have already started embracing the new normality so have individuals and corporations come with the striking realization that they need to take ownership of a better, more resilient future.

Through the unexpected world-pause, an opportunity is offered to reflect and reset what seemed to be non-vital. Although often thought as different concepts, resilience is apparently adding now more than ever nuance and inspiration to the idea of sustainability making it more suitable to the confusing world around us.

With the inescapable changes and disruptions already taking place, envisioning the world as in the UN’s Sustainable Development Goals (SDGs) might not be a utopia as this is the right moment to spur renewal, pioneering thinking and collectively thrive. That nonetheless, requires listening and learning from the ground up with lessons from the pandemic.

For start, it is critical that we acknowledge that in order to achieve the even synergy of the triptych planet, people and profit, we should stop overlooking sustainability as a problem that addresses anyone but ourselves rather than we commence to act collectively. Especially in the corporate sphere, it is impressive how little are employees engaged in the organization’s sustainability journey as socio-environmental criteria fail to be successfully integrated into every business department. This is disappointing if we do not truly grasp that in essence, sustainability infuses in every division in all company’s operations.

Covid-19 came as an earthquake to shake business models so that they become more resilient, more sustainable. Sustainability Academy is committed to play its essential role in this transition by offering affordable and specialized training on the hottest issues of Sustainability not only to individuals but also to a group of professionals and corporations that are determined to entice their employees and other stakeholders to engage in sustainability.

By Rosalinda Sanquiche, ISSP-SA, CSE Certified Trainer

What will the “new normal” look like? The challenges we’re facing in the wake of COVID-19 are the very challenges to which sustainability professionals have long been offering solutions.

The Resilient versus Efficient debate tends to fall toward efficiency. However, we should ask which areas can we best managed with redundancy. Sustainability based on biodiversity teaches us to find multiple pathways to the same outcome. Do we always want the cheapest, least labor intense option? Resiliency affects workers, supply chain, health care, education and so much more.

Supply chain – knowing exactly where our products come from, how they get to us, and which commodities are fragile are a few of the issues addressed by McKinsey, Harvard Business Review and thousands of articles and reports from the sustainability community, with extensive guidelines and management tools.

Clean Air – a current meme is the clear skies around our most populated cities. There have been 11,000 avoided deaths because of better quality air in Europe. Compare this to the estimated 100,000 deaths annually in the US attributed to air pollution. Now is the time to consider corporations going beyond compliance.

Debt relief – various ideas are circulating to relieve the financial burden of student loans, mortgage and rent payments, credit card payments and even utility bills. Should companies consider debt-forgiveness jubilees for community stakeholders? And, let’s be deeply concerned that a few weeks of unemployment have sent many to the food banks.

Health care – Many communities suffer poor access to medical care and nutrition during the best of times. In turn, these bottom of the chain workers are the very ones who prepare our food, deliver our goods, care for our children. A system where the best paying get the best care is irrelevant to the spread of illness. Even the fully employed can fall toward the negative end of the spectrum.

If there are liver diseases, the active substance of Ambien (Zolpidem) can accumulate in the body and lead to undesirable consequences. The drug should be prescribed to elderly patients with caution, since they have an increased risk of developing muscle relaxant and sedative effects on the body, which leads to falls and injuries.

Guaranteed minimum income – many economists, as did Milton Friedman, suggest variations of a guaranteed minimum income. As we scramble to disburse aid to displaced minimum wage earners and gig workers and the more fragile than we’d like to admit middle class, sustainability practitioners again must grapple with providing the benefits of corporations offering living wages.

Sustainability is so much more than reduce, reuse, recycle. Companies task sustainability practitioners with crafting solutions best suited for their sector. CSE training and consulting are resources you can access for sound, long-term solutions to ameliorate the fallout from COVID-19 and other crises to come.

CSE is pleased to partner with Green America, to offer its Green America Business Network members its Online Diploma on Corporate Sustainability. This foundational course offered through the acclaimed on-line Sustainability Academy provides a step-by-step introduction to corporate sustainability and the latest sustainability trends.

See international best practice case studies and videos
Learn about international legislation and regulation, effective stakeholder engagement, and how to integrate sustainability successfully into your business
Work through five modules and take a final assessment to receive the online certificate
Receive a FREE e-book copy of Practical Sustainability Strategies by Nikos Avlonas and George P. Nassos

Green Business Network members get an exclusive 15% discount . For GBN members : To redeem this special offer as a Green Business Network member, log into your Member Dashboard at http://members.greenbusienssnetwork.org.

There is an increasing and urgent need for greater transparency, reliability and comparability of ESG (environmental, social and governance) performance data reported by companies. ESG data has become an important factor in determining a company’s valuation and a vital medium to access financing and capital. As a result we are seeing a significant increase in Sustainability reporting, which has grown significantly with 86% of S&P companies having published a report in 2018, compared to 20% in 2010.

The challenge is that current corporate ESG disclosures lack consistency and standardization. To add to the confusion, there are more than 600 ESG ratings agencies globally, according to the Global Initiative for Sustainability Ratings.

There is a lot of ESG data available for investors but which cannot necessarily be relied upon by investors to make informed decisions.

The frustration for many companies is the general lack of transparency as to how they are being scored in their sustainability performance. Currently firms which provide ESG benchmarking services are gathering data from multiple sources, ranging from “best of” lists to ratings agencies, but the scores don’t contain enough information and context for most investors. Investors need to complement these ESG data with additional feeds from news reports, social media posts, and employment sites.

Going forward, it is widely expected that automation and artificial intelligence (AI) will be leveraged to both generate and evaluate ESG data. However for these machine systems to work effectively a larger volume of data will need to be produced. AI functions best on billions of data points rather than millions.

In response, investor relations and sustainability teams are looking for new innovative ways to increase dependable data collection to detect and highlight strategic ESG information. Technology innovations are creating new opportunities, for example, companies are now testing new sustainability applications on their customers focusing primarily on measuring and tracking energy consumption, climate emissions, waste generation and environmental data.

We expect the increase in automation and AI data collection to significantly change how sustainability reporting is both undertaken and strategically perceived.

The Sustainability Academy offers the Online Diploma on Corporate Sustainability and a series of specialized programs on Sustainability Reporting, Carbon Reduction Strategy and ESG Performance for Investors. There are also special In-house Programs for organizations, who recognize that investing in their human capital through education is the most important determinant for growth and excellence in Sustainability. To confirm this claim, recent research has demonstrated that organizations with a strong learning culture can outperform their peers. The Academy aspires to reach 100,000 professionals by 2025!

As part of ‘social-distancing’ measures to combat the coronavirus pandemic, millions of employees around the world now find themselves working from home. For employers who are trying to manage their teams remotely and retain morale and productivity, engaging employees in online training courses is a great way to achieve just that.

Research by Bersin has shown that organizations with a strong learning culture tend to have higher employee productivity and are able to create more business impact – and there is no better area for creating business impact than in your sustainability practices. The Sustainability Academy – CSE’s award-winning, online educational platform – offers certified online courses, for a variety of sustainability hot topics, including ESG performance, sustainability reporting, social entrepreneurship, and carbon reduction strategies.

The Sustainability Academy provides practical and up-to-date content (new editions published) and along with individual courses, organizations can sign up for online group courses. Group Courses are tailor-made for organizations and cover the specific needs of the organization while allowing for teambuilding in a remote setting. The Sustainability Academy has successfully designed and delivered certified online courses for diverse organizations like Timberland, Pepsico, and the United Nations. Certified group online courses allow for an exchange of ideas and knowledge among participants and the training team and each participant’s learning path, intensity, and time frame can be customized. Gamification options allow for the tracking and rewarding of participants’ progress.

Employees want to learn and grow, and with the current situation online learning opportunities are a great way to foster a learning culture in your organization even while your employees are working remotely. The return on investment will be palpable –Research has shown that organizations that are able to nurture their employees’ desire to learn are at least 30% more likely to be leaders in their industries over time.

Now is the time to develop your learning skills in the ever evolving field of sustainability while staying at home.

Nikos Avlonas

Center for Sustainability and Excellence (CSE)

March 19, 2020

The international emergency arising in the last few weeks following the extensive spread of the Covid-19, also known as coronavirus, has reached a critical point, encompassing both global health as well as the economic impact the will ensue. It is widely expected that the global economic system will suffer greatly, with the United Nations reporting losses of up to $2 trillion while Bloomberg, being even more pessimistic, forecasts losses of up to $2.7 trillion, a figure which compares to the entire GDP of the United Kingdom !

With rapid developments occurring at a daily pace and following the announcement that we are experiencing a global pandemic, it already is clear that certain industry sectors will be harder hit than others, the biggest losers appearing to be tourism, air travel but also retail as well as food and beverage service industries. All these sectors are co-dependent and the growing uncertainty is firing off chain reactions that are greatly impacting the business community as a whole as well as the entire Banking system. According to IATA, the loss for the commercial airline industry could range between $63 billion to $113 billion for this year alone, depending on the length of impact brought on by the virus.

Businesses are being called upon to combat the economic crisis but in parallel to prove their sustainability by acting with significant responsibility towards their employees, their customers, their business partners as well as for the safety of their products and services. It can be said that the pandemic is a true test of Sustainability and Responsibility of all existing businesses while most are already in crisis mode.

In the attempt to maintain and support supply chains, particularly around the distribution of emergency products and services, such as food and pharmaceuticals, the adoption of strict protective measures, both for employees as well as the products delivered to end customers, is a basic requirement of Corporate Responsibility. In addition, special emphasis can be made on the population groups at higher risk and are in immediate need for protection through collaborations and synergies that can be created through sector initiatives or independently. Examples could be supermarkets offering free home delivery to high risk customers while medical centers can take advantage of the technology available and offer virtual diagnostic and tele-medical services.

In parallel, many organizations are already offering solutions creating customized working conditions, such as tele-working, in line with the general guidance to “stay at home” but also providing psychological support and other initiatives for the well being of their employees. Technology is indeed an important ally given that the many alternatives it can offer are proving to be highly beneficial.

It is widely accepted by all that in this difficult and unprecedented time it’s a basic requirement that we all display personal responsibility. Similarly for businesses, the time has come to put in practice their corporate social responsibility and solidarity for the communities they serve.

Nikos Avlonas

Center for Sustainability and Excellence (CSE)

March 19, 2020

The international emergency arising in the last few weeks following the extensive spread of the Covid-19, also known as coronavirus, has reached a critical point, encompassing both global health as well as the economic impact the will ensue. It is widely expected that the global economic system will suffer greatly, with the United Nations reporting losses of up to $2 trillion while Bloomberg, being even more pessimistic, forecasts losses of up to $2.7 trillion, a figure which compares to the entire GDP of the United Kingdom !

With rapid developments occurring at a daily pace and following the announcement that we are experiencing a global pandemic, it already is clear that certain industry sectors will be harder hit than others, the biggest losers appearing to be tourism, air travel but also retail as well as food and beverage service industries. All these sectors are co-dependent and the growing uncertainty is firing off chain reactions that are greatly impacting the business community as a whole as well as the entire Banking system. According to IATA, the loss for the commercial airline industry could range between $63 billion to $113 billion for this year alone, depending on the length of impact brought on by the virus.

Businesses are being called upon to combat the economic crisis but in parallel to prove their sustainability by acting with significant responsibility towards their employees, their customers, their business partners as well as for the safety of their products and services. It can be said that the pandemic is a true test of Sustainability and Responsibility of all existing businesses while most are already in crisis mode.

In the attempt to maintain and support supply chains, particularly around the distribution of emergency products and services, such as food and pharmaceuticals, the adoption of strict protective measures, both for employees as well as the products delivered to end customers, is a basic requirement of Corporate Responsibility. In addition, special emphasis can be made on the population groups at higher risk and are in immediate need for protection through collaborations and synergies that can be created through sector initiatives or independently. Examples could be supermarkets offering free home delivery to high risk customers while NYGoodHealth medical centers can take advantage of the technology available and offer virtual diagnostic and tele-medical services.

In parallel, many organizations are already offering solutions creating customized working conditions, such as tele-working, in line with the general guidance to “stay at home” but also providing psychological support and other initiatives for the well being of their employees. Technology is indeed an important ally given that the many alternatives it can offer are proving to be highly beneficial.

It is widely accepted by all that in this difficult and unprecedented time it’s a basic requirement that we all display personal responsibility. Similarly for businesses, the time has come to put in practice their corporate social responsibility and solidarity for the communities they serve.

The successful March 2020 Atlanta training focused on ESGs and Circular Economy. Atlanta is a gathering place for corporations throughout the US and the world, given it is a critical transportation hub. The training included a majority of participants from Georgia, Maryland, Florida and Texas.

CSE is preparing now for its upcoming trainings throughout US and Canada. As always, CSE will tailor the training to the unique needs of this region.

A good portion of the Atlanta training focused on ESGs and Circular Economy, important considerations for participants from Rheem, EPCOR, Delta, WestRock and Wells Fargo. Sustainable management of ESGs and Circular Economy makes a significant impact in promoting human rights, fair labor practices, environmental progress and anti-corruption policies. Given Atlanta’s national and international reach, highlighting Circular Economy issues made sense.

FT 500 participants were particularly sensitive to the implications of sustainability rankings to investors. ESG criteria (environment, social, governance) are part of due diligence for trillions of investment dollars.

Another focus, praised as one of the key take-aways by participants, was Materiality. When allocating resources, smaller and newer companies appreciate knowing how to address stakeholder concerns when designing a sustainability strategy and developing a sustainability report.

ESGs and Circular Economy are important components of the Center for Sustainability and Excellence Certified Sustainability Practitioner training which will be presented in all our upcoming US and Canada trainings.

CSE does not pick focus topics arbitrarily, such as the request for extra SROI information in the 2019 Toronto training, or the Silicon Valley Sustainability Trends for the San Francisco 2019 training or the Climate Change and Environmental Sustainability focus for the Miami 2020 training. We listen to participants from past trainings and to participants enrolled for future trainings. Want to inform the focus for any one of our future trainings? Register now and let us know your thoughts.

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