Page 34 – Sustainability Academy

Assessing the environmental impact on mining companies in Canada

Mining impacts the environment in unnatural ways, which not only disrupts its natural decaying process, but also does more damage long-term than natural erosion processes.

Since 1990, mining companies had to comply with increasingly stringent domestic regulations and may adopt voluntary practices that exceed Mining Canada | CSR, CSE, Sustainability Academy, Education, regulations. In the past two decades developing countries have become more aware of environmental issues, and have taken steps to regulate and to protect their environment. Many voluntary measures have also been implemented by mining companies to achieve and maintain their social license to operate.

For instance, Canadian mining companies in the Mining Association of Canada are required to participate in the Towards Sustainable Mining (TSM). Towards Sustainable Mining (TSM) is an initiative that helps mining companies evaluate and manage their environmental and social responsibilities. It is a set of tools and indicators to drive performance and ensure that key mining risks are managed responsibly at participating mining and metallurgical facilities.

Established in 2004 by the Mining Association of Canada (MAC), TSM’s main objective is to enable mining companies to meet society’s needs for minerals, metals and energy products in the most socially, economically and environmentally responsible way.

At its core, TSM is:

Accountability: Participation in TSM is mandatory for all MAC members, and the Mining Association of British Columbia and the Québec Mining Association are currently implementing TSM for their members.

Transparency: Mining companies publicly report their facilities’ performance against 23 indicators in the annual TSM Progress Report. Results are externally verified every three years.

Credibility: TSM is overseen by an independent Community of Interest (COI) Advisory Panel. This multi-stakeholder group helps mining companies and communities of interest foster dialogue, improve the industry’s performance and shape the TSM initiative for continual advancement.

The TSM includes guiding principles and standards for tailings management, greenhouse gas and energy management, aboriginal and community outreach, crisis management, water and mining, biodiversity conservation, and mine closure.

Companies must report on TSM progress each year and these reports are subject to external verification. Canadian mining companies are also involved in environmental initiatives such as the Mine Environment Neutral Drain (MEND) program and the National Orphaned and Abandoned Mines Initiative (NOAMI).

Furthermore, mining companies are also being asked to demonstrate to their stakeholders and financial institutions that they are managing environmental risks. Investors recognize that managing environmental risk is necessary for maintaining long-term market value, and frameworks such as TSM can help companies to identify and manage these risks.

While mining has historically affected its surrounding environment, advances in technology and changes in management techniques mean that many negative impacts are now avoidable. Increasingly, mining companies are making efforts to reduce the environmental impact of mining and minimize the footprint of their activities throughout the mining cycle. By systematically examining environmental impacts and adopting measures to mitigate these impacts, it is possible to make mining less destructive for the environment.

By Rosalinda Sanquiche

While much has been made about whether Silicon Valley corporations, start-ups and tech giants are or are not models of sustainability, CSE provides the first systemic research on Silicon Valley companies’ sustainability efforts by analyzing their current state of sustainability and corporate social responsibility (CSR) reporting. During a webinar featuring research from CSE on sustainability practices in Silicon Valley, attendees indicated a widespread perception that Silicon Valley is strongly in tune with sustainability practices. The ground breaking report Sustainability Trends in Silicon Valley from the Centre for Sustainability and Excellence (CSE) addresses this perception. sustainability behavior, silicon valey | CSE, CSR, Sustainability academy, education, employment

ET Index Research is a mission-driven organization dedicated to helping investors and corporations identify, understand and manage climate and carbon-related risks. They help investors to reduce exposure to carbon risk without sacrificing performance. Their methodology guides investments to shift towards carbon-efficient companies across the economy, including companies from Silicon Valley. The Engaged Tracking (ET) system incentivizes the world’s largest companies to lower greenhouse gas emissions and to improve transparency in carbon and climate risk reporting.

As CSE has found, reporting is key! By comparing findings, a better picture emerges of sustainability in Silicon Valley. CSE’s research examines whether Silicon Valley companies follow sustainability best practices and whether or not they are sustainability role models to other sectors. Over 78% of the Global Fortune 500 produce a sustainability report (many receiving training from CSE); 61% when looking only at the Fortune 100. So, Silicon Valley companies should be in that 60-80% range.

ET Index Research looks at sustainability by producing the most comprehensive public ranking of the world’s largest listed companies according to the carbon intensity of their activities. The company analyzes carbon risk in investor portfolios and produces low-carbon and fossil-free indexes that can be used by investors as benchmarks and to create customized low-carbon investment strategies.

According to CSE’s research, only 29% of Silicon Valley companies have sustainability reporting, though the research found that 61% have a sustainability professional, weighted in favor of large companies over SMEs. Some of the 100 companies examined are global leaders such as Adobe, AMD, Apple, Cisco, Dolby, eBay, Facebook, FICO, Google, Intel, Intuit, PayPal, Oracle, SunPower, Tesla, Twitter and Zynga. Industries covered include automotive, computer and internet, entertainment, financial services, medical, renewables and telecommunications. The research breaks down sustainability practices into five categories: community, environment, employee, ethics, supply chain and philanthropy. Only 21% of the companies studied address all six practices, each showing greater or lesser emphasis on particular categories. Finding Google on the list is no surprise, while Apple is notably absent.

Even looking at just one component, supply chain, comparing CSE research to ET Index Research confirms Silicon Valley’s lower than expected attention to sustainability. The ET Carbon Rankings are the only publicly available rankings to assess both the carbon efficiency of companies’ direct operations (Scope 1 and 2 emissions) and of their full value chain (Scope 3), from transportation of raw materials to the use of the products they sell. Scope 3 emissions are of critical importance because they typically make up 75% of companies’ carbon footprints and therefore reveal their exposure to increased costs across their value chain. The rankings list the carbon efficiency of the world’s largest 2,000 listed companies, which account for approximately $45 trillion in market capitalization and approximately 9.5 billion tonnes of CO2 in direct emissions.

The combined research finds that many Silicon Valley companies are leaders in their field, but they are not necessarily the leaders in Sustainability that many people expect!

Comparing Silicon Valley’s top companies reporting on sustainability to the top 800 on the ET Carbon Rankings, leads to startling results. The best companies based on both lists are Adobe (ranked #3 by ET Index Research and #1 by CSE) and Oracle (ranked #1 by ET Index Research and # 13 by CSE). Rankings are dramatically lower from there.

Company	CSE Rank	ET Index Research Rank
Adobe	1	3
Applied Materials	2	457
Cisco	3	454
Ebay	4	552
Google (Alphabet)	5	474
Hewlett Packard	6	243
Intel	7	489
Intel Security	8	No ranking
Intuit	9	299
Juniper Networks	10	No ranking
Lam Research	11	No ranking
NVIDIA	12	493
Oracle	13	1

Of the top Silicon Valley companies on CSE’s list, only nine appear on the ET Index Research list. While Adobe and Oracle are towards or at the top of one or the either list, most of the companies on CSE’s list fall well down the rankings on the ET Index Research list, with the next highest listing at 243 from Hewlett Packard. None of the others even make it into the top half of the Carbon Rankings.

CSE’s findings are that, overall, Silicon Valley companies to do not appear to have a clear strategy to address stakeholder concerns or expectations. With the exception of those strongest companies such as Adobe, Applied Materials and Cisco, corporate strategy seems to be focused on one or two elements of sustainability, rather than a systems approach. Of the companies at the top of the CSE list addressing all the key factors of sustainability, only Oracle appears at the top of limiting carbon emissions, integral to managing supply chain.

Low emphasis on reporting could be due to a lack of resources – time, budget, mandate. Perhaps Silicon Valley culture is still short-sighted. Who worries about carbon emissions when quarterly returns are due and an exit strategy is in place?

On reason given for lax reporting is that the companies lack the know-how. Of the companies studied, 95% claim to focus highly on ethics, 63% on environment, 51% on community and employees. Yet, when it comes to reporting accomplishments, companies need to do more than post a few feel-good bullets on their websites.

For example, to get a full picture of carbon risk, companies need to go beyond direct emissions from a company’s own activities (Scope 1 and 2) and understand indirect emissions from the activities in its value chain (Scope 3), from production of the raw materials it uses to the use of the goods it sells. Scope 3 emissions are typically the largest source of emissions within a company’s total footprint, and a major source of its carbon and climate-related risk. Companies which do not measure, track and/or actively work to reduce Scope 3 emissions are not only failing their supply chain, but also the environment which 63% in the CSE study claim to have strong records.

ET Index Research was established specifically to address the systemic nature of carbon risk. The ET Carbon Rankings and the corresponding ET Low Carbon Index Series are designed to reduce individual investor exposure to carbon risk by shifting capital away from high-carbon companies in all sectors. They reduce aggregate exposure to carbon and climate risk by clearly signaling to the largest listed companies and their supply chains that they must decarbonize in order to move up the rankings. A greater weighting in the Index means companies receive a larger share of invested capital. This mechanism offers investors a systematic and cost-effective approach to helping the world avoid the worst effects of climate change.

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How can companies show positive efforts toward sustainability rather than falling short with external monitoring such as the ET Index Research rankings? There is a process to good internal assessment and subsequent CSR reporting – accepted practices, ever changing guidelines and regulations. Without a well-trained and dedicated staff, companies need to reach out to established organizations well-versed in assessment and reporting. CSE’s research furthers its commitment to high caliber training in sustainability for corporate executives and sustainability managers worldwide. Assessment, disclosure and recognition are critical for building positive stakeholder relations, whether customers, investors or the global community.

ET Index Research www.etindex.com

Email: [email protected]

Address: Level39, One Canada Square, Canary Wharf, London, E14 5AB

Call: +44 (0)207 183 3221

CSE Centre for Sustainability and Excellence www.cse-net.org

Email: [email protected]

Trainings: http://www.cse-net.org/article/127/upcoming-trainings

Sustainability Academy: www.sustainability-academy.org

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In 2009, the Government of Canada launched its first Corporate Social Responsibility (CSR) Strategy, “Building the Canadian Advantage: Canada’s Corporate Social Responsibility Strategy for the Canadian International Extractive Sector.” It outlined Canada’s commitment to promoting CSR, defined as the voluntary activities undertaken by a company, over and above legal requirements, to operate in an economically, socially and environmentally sustainable manner.

Canada is strengthening its commitment to enhance the ability of Canadian extractive sector companies to integrate CSR into their practices through a renewed Strategy, building on experience gained since 2009. The strategy makes clear the Government’s expectation that Canadian extractive sector companies reflect Canadian values in all their activities abroad. While its primary audience is intended to be Canadian extractive sector companies, the Strategy is also meant to provide a more general audience with an overview of Canada’s approach to promoting and advancing CSR abroad. For Government of Canada representatives, the Strategy provides a framework to guide their efforts to promote CSR policies, tools and guidance.

Experience has shown that, particularly for extractive sector companies operating in challenging environments, those that go above and beyond basic legal requirements to adapt their planning and operations along CSR lines are better positioned to succeed in the long term, and to contribute to a more stable and prosperous environment for all affected parties.

Many Canadian extractive sector companies, particularly those in the mining industry, understand that incorporating CSR practices into their operations contributes to their success. By doing so, companies can manage risks more efficiently and effectively; foster good relations with investment partners, employees, and surrounding communities; increase access to capital; and improve their reputation. Managing social risks, including through conscious efforts to respect human rights, is increasingly important to companies’ success abroad.

The CSR Strategy, however, was criticized by the Opposition Parties as ineffective and “toothless” for its emphasis on voluntary and collaborative initiatives over mandatory mechanisms. After a review of its CSR Strategy, on November 14, 2014, the Federal Government of Canada announced its second and “enhanced” CSR Strategy renamed “Doing Business the Canadian Way: A Strategy to Advance Corporate Social Responsibility in Canada’s Extractive Sector Abroad”.

One of the key changes from the previous CSR Strategy was to introduce consequences to non-compliance with CSR standards and non-participation in dispute resolution processes. In addition, the new CSR Strategy adds to its list of endorsed CSR Guidelines, the United Nations Guiding Principles on Business and Human Rights (UNGP), an international human rights framework that delineates expectations of corporations to address the human rights impacts of their operations internationally; and the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas.

The global presence of Canadian extractive companies represents a potential force for responsible resource development around the world. Many Canadian companies are committed to high ethical, environmental and social standards – indeed, Canadian industry associations and extractive companies have been recognized domestically and internationally for their leadership on these issues.

Nikos Avlonas, recognized by PR News as a CSR Professional of the Year, was featured by “A Better World Radio” in an interview with Mitchell Rabin, M.A., L.AC., founder and host, producing shows, writings, products and events aimed at better living and consciousness. Rabin is an international speaker and teacher, mediator, entrepreneur, business consultant, environmentalist and writer. He has also been hosting and producing the NYC-based cable TV show A Better World since 1993. Avlonas is president and founder of the Centre for Sustainability and Excellence (CSE), a premier global Sustainability Strategic Advisory and Training organization, working with Fortune Global 500 Companies, and training and coaching executives from organizations as diverse as NASA and Coca Cola.

Avlonas and Rabin engaged in a frank discussion on misconceptions surrounding the term “sustainability.” Too often it is referred to only as a concern for environment or in business “efficiency”. Avlonas and Rabin discuss how sustainability actually has an important role in business success whether it be appealing to customers or investors.

Avlonas shares his perspective for best practices in the CSR arena, including outstanding communications efforts. Under the direction of Mitchell Rabin, the web site for A Better World features articles, products and media archives focused on holistic, creative, compassionate media for the mind, spirit and body.

Together they address the question, “is it already too late?”

With brutal honesty, they conclude that some negative trajectories, such as climate change are inevitable. However, business is uniquely suited to handle the consequences. Product development, services, employee engagement, incorporating social entrepreneurship are opportunities to improve the world in which we inhabit.

Awarded by PR News for his 15 years of pioneering work, Avlonas is encouraged by graduating Millennials who want lives with purpose. Avlonas created the Sustainability Academy and it’s initiative to train 100,000 sustainability practitioners by 2020! The Sustainability Academy offers affordable, specialized online education, helping create a critical mass of practitioners across fields, disciplines and throughout organizations. Instilling a common language and understanding helps integrate sustainability in all aspects of corporate functions. Avlonas envisions deep change, enabling businesses to apply principles such as the United Nations Sustainable Development Goals (SDGs).

Avlonas points to innovative companies such as Tesla, showing that technology and new business practices are already in play. Will it be fast enough to save the planet? Avlonas and Rabin discuss how new technologies in fields as high-flying as aviation and as grounded as agriculture are leading the way.

Avlonas finishes the interview saying, “In this critical era, the traditional capitalist business model is unsustainable. We are moving to an ethical capitalism. Companies need to address this in their strategies for productivity, customer engagement and a better, more balanced planet.”

You can hear the entire interview online at A Better World. You can hear Avlonas present in-person at upcoming trainings in North America, London and Dubai.

The Centre for Sustainability and Excellence (CSE) in collaboration with the Institute for Business and Professional Ethics (IBPE) at DePaul University have designed a timely course on “How to Create a B-Corporation and Gain a Competitive Advantage”.

A Benefit Corporation is a type of for-profit corporate entity, authorized by 30 US States and the District of Columbia, which includes positive impact to society, workers, community and environment, in addition to profit. Incorporating as a benefit corporation legally protects an enterprise’s social goals by mandating considerations other than just profit. By giving the directors the secured legal protection necessary to consider the interest of all stakeholders, benefit corporations can help meet the needs of businesses helping solve social and environmental challenges.

There are many impetus to becoming a B-Corporation. The demand for corporate accountability is at an all-time high. Socially responsible and impact investing are growing in market share, with $8.7 trillion in assets under management in the US. Even so, companies are often pressured for quick returns by investors. B-Corporations provide insulation against pressure from short-sighted investors.

Benefit corporations differ from traditional corporations in purpose, accountability and transparency but not in taxation. The rules of how to use a b-corporation standing, when to do so and how to leverage the advantages are not always clear. CSE and IBPE combine research and experience to share:

Practical benefits of B-Corporations
Why investors like benefit corporations
How Corporate Responsibility gives companies competitive advantage
How to integrate Corporate Responsibility to a company’s culture and strategy
Differences between a certified B Corp. and a benefit corporation

The course will be led by Nikos Avlonas, founder and President of the Centre for Sustainability & Excellence (CSE) a global sustainability strategic advisory and training firm with activities in North America, Europe, MENA and Asia. Nikos has been distinguished as one of the “Top 100 Thought Leaders in Trustworthy Business Behavior” by Trust Across America, an organization dedicated to promoting trustworthy business behavior. In 2017, he has been recognized as a Sustainability Professional of the Year by PR News.

The course is informed by the work of IBPE, founded in 1985 as a joint effort of the College of Liberal Arts & Social Sciences and Driehaus College of Business at DePaul University. IBPE promotes ethical deliberation by decision-makers by stirring their moral conscience, encouraging moral imagination, and stimulating research into business innovation and practices. It is a forum for exploring and fostering ethical practices in Chicago-area business organizations at DePaul University with programs for students, faculty and the business community.

There is limited space in the course. You can register at bcorps-how-to.eventbrite.com.

Fri, March 31, 2017; 9:00 AM – 5:00 PM CDT

1871 – Technology and Entrepreneur Center

theMART, 222 W Merchandise Mart Plaza, #1212

Chicago, IL 60654

Why do we need Benefit Corporations?

Since the dawn of the new century, the world has been struggling to alleviate the severe consequences of the environmental degradation, the global financial crisis and public discontent. The awareness that the current economy model is not sustainable has led to the inception of a new alternative business model called the Benefit Corporation.

This new promising alternative is galloping to replace the current profits-über-alles model. The benefit corporation has already been authorized as a type of for profit corporate entity by thirty U.S. states and by Italy that is the first European country that makes this legal status available on its entire territory.

The purpose of a benefit corporation is to redirect a profit driven operation mode of the business enterprise to a general public benefit operation mode that makes positive impact on both society and environment. A benefit corporation model regards the stakeholders’ interest as the one of paramount importance for its long run success and its aim is to forge the trustful and long lasting relationships with its stakeholders.

How do Benefit Corporations affect the market?

The neoliberal financial market model has started to decay after the global financial crisis hit the world in 2008. The race for profit maximization at the expense of environmental and social good has proved to be unsustainable and unbalanced.

A new type of for-benefit organization-a benefit corporation-can be the new engine of reformed capitalism that will balance environmental, social, and economic performance. The radical change in the way that capital markets work is fundamental tool to address current most pressing issues that can endanger the future of humanity.

It is more than obvious that the recovery of economy and capital markets cannot occur without a crucial change in organizational structure of for-profits organizations.

The benefit corporations along with the implementation of CSR in the existing for-profit organizations can aid the evolvement of the current global market and bring the whole world to take the right path towards prosperity.

The Centre for Sustainability and Excellence (CSE) president and founder, Nikos Avlonas is being recognized for his leadership in Corporate Social Responsibility (CSR). Avlonas is a finalist for PR News CSR Professional of the Year. Winners demonstrate best practices in the CSR arena, outstanding communications efforts powering important sectors of PR: corporate social responsibility and green initiatives, and nonprofit communications. The awards will be presented during the PR News Spring Awards Luncheon on March 22, 2017, at the National Press Club in Washington, D.C.

According to the PR News, “finalists set new standards of excellence and point the way for other organizations to follow.”

Others may be new to CSR, but Avlonas has been a pioneer for over 15 years. Before starting CSE, he was Scientific Advisor to the European Foundation for Quality Management, focused on Business Excellence and CSR. As a project leader he helped develop a CSR Framework and tools supported by the UN Global Compact.

“Education is the most powerful tool you can use to make a positive impact on our planet,” says Avlonas. He has grown CSE into a premier global Sustainability Strategic Advisory and Training organization, completing projects for Fortune Global 500 Companies such as BP, Nestle, Heineken Group, DHL, Under Armor, the European Investment Bank, Government of Dubai and the Lloyds Banking Group. His has trained and coached executives from NASA, Walmart, Word Bank and Coca Cola.

Looking forward, Avlonas created the Sustainability Academy and it’s initiative to train 100,000 sustainability practitioners by 2020! The Sustainability Academy offers affordable, specialized online education. Certified courses include the Online Diploma on Corporate Sustainability, helping create a critical mass of practitioners across fields, disciplines and throughout organizations. Instilling a common language and understanding helps integrate sustainability in all aspects of corporate and institutional functions – whether existing programs or business development. Avlonas envisions deep change, enabling corporations, municipal and community organizations to apply principles such as the United Nations Sustainable Development Goals (SDGs).

Congratulations, Nikos Avlonas, for recognition of years of service and leadership. Thank you for being a visionary and a CSR Professional of the Year!

Sustainability definitely is the new “black”. Companies across the whole world start to realize that they must extend the reach of their sustainability and corporate responsibility plans and come closer to environmental, economic, and social terms. Planet Earth must be protected in any way.

The uncertain legislative and regulatory environment, however, suggests the opportunity for closer integration of sustainability programs with a corporation’s public affairs activities. Public affairs couldn’t be the missing part of all this process because they can actually find the way to support this global vision.

Not only big companies but also small ones must tell their environmental story in order to enhance its reputation with customers, employees, and investors. That’s why public affairs should take part to this and help them to make a step forward.

Issues such as food security and a warming planet need people and organizations with very different interests to be persuaded to act for the common good.

“What if public relations’ role was not about managing reputation or winning favor for past acts of philanthropy but engendering positive future change and accelerating progress on key sustainability issues?” As the guardian says this is where public relations may have a more dynamic role; as an agent for change rather than to gloss up reputations.

So, as far as we can see, public relations will totally participate in sustainability’s area during the upcoming years.

During a webinar featuring research from CSE on sustainability practices in Silicon Valley, attendees indicated a widespread perception that Silicon Valley is strongly in tune with sustainability practices.

We’ve all heard how Millennials are purpose driven, favoring companies which model their values – Silicon Valley is rife with Millennials. It’s the home of start-ups, young companies situated to take advantage of IoT and other sustainability technologies. And, of course, with social media, viral videos, blogging, eye-catching websites, producing CSR reports must be second nature.

Over 78% of the Global Fortune 500 produce a sustainability report (many receiving instruction from us!); 61% when looking only at the Fortune 100. So, Silicon Valley companies should be in that 60-80% range.

Yet, only 29% in our study produced a sustainability report. Low emphasis on reporting could be due to a lack of resources – time, budget, mandate. Perhaps Silicon Valley culture is still short-sighted. Who worries about sustainability when quarterly returns are due and an exit strategy in place?

What do you think?

One reason given is that they lack the know-how. They are doing admiral work in ESG – 95% claim to focus highly on ethics, 63% on environment, 51% on community and employees. But, when it comes to reporting accomplishments, they need to do more than post a few feel-good bullets on their website.

There is a process to good CSR reporting – accepted practices, ever changing guidelines and regulations. Public Relations is often tasked to spread the message, but without a well-trained and dedicated staff, at best CSR reporting falls to the wayside. While strong CSR reporting can be an effective tool in a company’s public relations arsenal, at worst, it can fall prey to greenwashing.

CSE’s research furthers its commitment to high caliber training in sustainability for corporate executives and sustainability managers worldwide. Our Sustainability Academy offers affordable, online courses providing the foundation for sustainability strategy and reporting. We offer advanced training to improve sustainability organization wide with our Certified Sustainability Practitioner (CSR) Programs: Houston, Feb. 23-24; Toronto, April 5-6; New York, May 25-26.

Branding and reputation are critical for building positive stakeholder relations, whether customers, investors or the global community. Consumers and clients need to ask for transparency via CSR reporting. Every company, Silicon Valley or not, should offer this look into their own progress toward sustainability. Let’s align reality with perception!

Nikos Avlonas

Adjunct Professor Sustainability, DePaul University (Chicago)

Founder and President CSE

Over the last few years we’ve seen sustainability climb the corporate ladder, to the point where many companies have put it at the heart of their business strategy.

Here are several corporate sustainability trends to watch out for in 2017:

Climate Change and Paris Agreement COP21 and next steps

Climate change has been on the agenda for many decades, with awareness steadily growing but with no significant commitments. Yet in 2015 a bold new agreement was signed in Paris, which sets out a global action plan to put the world on track to avoid dangerous climate change by limiting global warming to well below 2°C. Paris agreement (COP21) was adopted and signed by 195 countries, including USA and China – the world’s biggest polluters and two countries traditionally reluctant to make commitments on the climate change front. The EU was the first major economy to submit its intended contribution to the new agreement in March 2015. It is already taking steps to implement its target to reduce emissions by at least 40% by 2030.

However without US approval the agreement can not been valid . Donald Trump has both promised to withdraw from US commitments and said he’ll keep an “open mind”. Key appointees could dismantle legislative, regulatory and physical infrastructure conducive to COP21. Secretary of State nominee Rex Tillerson, ExxonMobil CEO, has controversial views toward climate change, as does EPA nominee Scott Pruitt, with stated preference for state’s authority. The Good news are that already the US payment to the U.N. Green Climate Fund was approved for the second year in a row a few days ago. (The US committed to transferring $3bn to the fund)

The evolution of Sustainability Reporting

As the importance of sustainability continues to rise for companies around the world, demands for accountability are growing stronger. The Global Reporting Initiative (GRI) has published an analysis paper titled ‘Sustainability and Reporting Trends in 2025: Preparing for the Future’. The paper, which is the first to be published as part of GRI’s 2025 Reporting Project, examines future trends in sustainability and corporate reporting and disclosure. GRI’s Reporting 2025 paper identifies several trends that indicate how disclosure will evolve in the next decade. Some of these trends include:

Companies will be held accountable, more than ever before
Business decision makers will take sustainability issues into account more profoundly
Stakeholders will have more access to data, which will require organizations to align real-time decision-making processes with their communication on issues such as climate change
New data technology will lead to greater transparency with corporate reporting moving fully into the digital realm and occurring in real-time instead of annually. etc

The rise of CFO’s role in sustainability

Historically, Chief Financial Officers (CFOs) were not deeply or directly engaged in sustainability efforts, viewing them as too soft or not in their purview. In a survey conducted by Ernst&Young and GreenBiz Group, 65 % of companies stated their CFO has become involved in sustainability. One key reason for growing CFO involvement is the growing scrutiny of company sustainability issues by equity analysts. The growth of integrated corporate reports, in which sustainability data is reported alongside traditional financial reporting data emerging trend in business, will further engage CFOs in sustainability.

Greenhouse gas reporting will remain strong, with growing interest in water

Climate change has become a strategic concern at many companies, despite a lack of US regulatory requirements to measure, manage or report emissions. According to Water Disclosure Global Report 2014, 76 % of companies publicly report their greenhouse gas emissions; another 16% said they plan to do so within five years.

The report also states that the interest in reporting on water is also on the rise, especially in water-intensive industries such as metals and mining, oil and gas, chemicals, agriculture, power and utilities, and food and beverage. 62% of respondents publicly report their water usage. About one in six of those have their “water footprint” verified by an independent third party; 22% said they plan to do so within five years. Nearly 80% of companies see water issues as opportunities rather than a risk affecting business in the next five years. The opportunities range from the savings realized by using less water to potential new products and services.

Employees and investors will remain the key stakeholder group for sustainability programs and reporting

It is believed that company sustainability initiatives are driven principally by customers or investors and shareholders, and sometimes by NGO activist groups or regulatory agencies. The survey conducted by Ernst&Young and GreenBiz Group found that employees ranked as the second top stakeholder group in driving the company’s sustainability initiatives (cited by 22% of respondents), behind customers (37%) and ahead of shareholders (15%), policymakers (7%) and NGOs (7%).

The practice of employee education and engagement on sustainability has spread rapidly and evolved into a more institutionalized element of companies’ broad sustainability strategies. Companies use a wide range of tools to engage employees on sustainability, including “Treasure hunts”, Earth Day fairs, and employee award and recognition programs. The various tools and techniques for employee engagement will encourage employees to become a powerful voice in support of company sustainability messages. Additionally investors play a key role and request more transparency while ESG related ratings are becoming more demanding.

Many sustainability issues are at a tipping point

In many sustainability topics we have reached a tipping point. Businesses cannot afford not to act. They must recognize their impacts and implement comprehensive sustainability strategies to deal with them. The aforementioned COP21 and SGGs are prime examples of how all the important parties have ratified the agreement to tackle climate change

Need for unique sustainability strategies

Each company must come up with its own sustainability strategy. There isn’t a universal strategy that fits all companies. They must recognize their impacts, measure their performance and come up with innovative ways to create and enhance their strategies.

Growing need for transparency

Despite the selected path by each company, transparency ensures the successful application of the strategy. Transparency is ensured and enhanced by the use of frameworks, standards, guidelines and through external assurance

Consumers drive sustainability

Consumers and customers expect sustainability as a standard. They expect safe products, sustainably produced products, decent working conditions, products that are produced with the least impact to the environment and to natural resources.

Sustainability was an influential topic of the past few decades and it remains so today. The trends will only increase over the coming years, with more companies taking their own path when it comes to sustainability and, increasingly, using sustainability as a way to differentiate themselves from their competitors.

Corporate Sustainability is rising however not all companies and other organizations including Small Medium enterprises and NGOs are not fully aware on its importance and practical benefits. New legislation together with pressures from consumer groups, investors and others will potentially increase the awareness and need for more comprehensive Sustainability Strategies

Assessing the environmental impact on mining companies in Canada

At its core, TSM is:

Together they address the question, “is it already too late?”

Why do we need Benefit Corporations?

How do Benefit Corporations affect the market?

What do you think?

Climate Change and Paris Agreement COP21 and next steps

The evolution of Sustainability Reporting

The rise of CFO’s role in sustainability

Greenhouse gas reporting will remain strong, with growing interest in water

Employees and investors will remain the key stakeholder group for sustainability programs and reporting

Many sustainability issues are at a tipping point

Need for unique sustainability strategies

Growing need for transparency

Consumers drive sustainability

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