Peggy's Blog
Taking the Pledge
A Sustainable Commitment
The Pledge for Net Zero
06/15/2021 Taking the Business Ambition for 1.5°C pledge as part of the Science-Based Targets Initiativeis an ambitious feat. One new company is now joining the pledge.
o9 Solutions is an AI (artificial intelligence) integrated planning and operations solution provider for the enterprise. The company recently announced it has signed the pledge, where it commits to set science-based emissions reductions targets across the entire value chain that are consistent with keeping global warming to 1.5°C above pre-industrial levels.
Business Ambition for 1.5°C is a call-to-action from a global coalition of UN agencies, businesses, and industry leaders with a common goal. In order to hold temperature rise to 1.5°C above pre-industrial levels, it requires halving greenhouse gas emissions by 2030 and hitting net-zero emissions by 2050. So far, more than 500 companies, representing more than $13 trillion in market cap have responded to the call for a pledge.
Part of the reason o9 Solutions decided to respond to SBTi’s call-to-action for companies to set emissions reduction in line with a 1.5°C future is because it believes that an independent, scientific approach will have the biggest impact in order to meet the goals of the Paris Agreement—which is an ambitious target.
In addition, the company is aiming to the long-term target of reaching net-zero emissions by no later than 2050, in line with the target many companies have set. Social impact is one of this company’s core values, as it actively promotes positive change initiatives that give back to communities and encourage sustainable practices.
Here is how this particular company is planning to make a big change. o9 Solutions is researching and gathering data on its environmental footprint. This information will help it understand its baseline, which includes energy usage, travel, and commuting-related footprints. Once all the data is collected, the company can then formulate new targets based on the latest scientific research on reducing environmental footprints.
While this is one example of a technology company that recognizes the need to make a critical contribution to limiting the impacts of climate change, time will tell if movement like this will be enough to spark a change.
Let’s be clear, the only way we are going to make a big change is if we all do it together. We need to make waves, not ripples. We need all business leaders need to step up and commit in order to make change happen.
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The Pledge for Net Zero
A Sustainable Commitment
The Pledge for Net Zero
06/08/2021 Companies across the globe are making the pledge for net zero emissions, which is the balance between the amount of GHG (greenhouse gas) produced and the amount removed from the atmosphere. Quite simply, it means removing as much carbon in the atmosphere as is put into it. This is the silver bullet for many companies today.
When will we reach this—and how can we sustain it? Let’s look at one example. UMC (United Microelectronic Corp.)recently pledged to reach net-zero carbon emissions by 2050. The company is responding to the Paris Climate Agreement goal and pursuing efforts to limit the global warming not exceeding 1.5°C.
Here is what it aims to do. UMC has obtained admission into RE100, which is a global initiative bringing together businesses committed to 100% renewable power. UMC is committed to using 100% renewable energy by 2050 by setting progressive goals of 15% by 2025 and 30% by 2030. Additionally, UMC is teaming up with more than 500 suppliers, cutting carbon emissions with the goal of a 20% reduction and raising renewable energy to 20% of total power consumption by 2030 in UMC’s supply chain.
Those are some pretty ambitious targets. While good objectives are key, it is also important to narrow in on how a company might achieve such feats. For UMC, it has three resolutions to cover direct emissions from fab operations, indirect emissions from energy consumption, and indirect emissions from the value chain.
The first resolution is persistent and proactive carbon emissions reductions. It is going to do this through developing advanced foundry process technologies, while also enhancing productivity and improving energy efficiency.
The second resolution is 100% renewable energy, which is a three-stage objective set to substantially increase the proportion of consuming renewable energy. UMC is also inviting its value chain to support the low-carbon energy transition.
Finally, it is investing in net-zero technologies. UMC is committing to invest in net zero emissions technologies and participate in Carbon Offset Projects to remove and offset carbon emissions that are inevitable or still subject to technical restrictions.
Here’s what I like. The company has been focused on corporate sustainability since 2008, but it continues to narrow in on specific ways—and technologies—to help reach its targets. Time will tell if it reaches its goal of using 100% renewable energy by 2050, but it has taken the first steps today to prepare for a better tomorrow.
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A Sustainable Commitment
A Sustainable Commitment
Fashion, Sustainability, and Circularity
06/01/2021 For large companies in the AEC (architecture, engineering, and construction), real estate, and facilities management space, sustainability is no longer optional. Rather it is a commitment to transformative action that requires new ways of thinking, working, and collaboration. Such is the case for Black & Veatch.
The company aims to address climate change through its operations and the work it does, all while maintaining its reputation of operating with the highest level of integrity and the highest standards in ethics, morals, fairness, and professionalism. The company also plans to keep its eye on the physical and mental well-being of its professionals, while embracing diversity of experiences and perspectives.
Here are its commitments to sustainability: by 2023, it will reduce Scope 1 and 2 emissions by 40% and overall GHG (greenhouse gas) emissions by 20% from a 2019 baseline. After 2023, it will continue reducing its GHG emission and be net zero for its overall GHG emissions by 2025. This year, it is conducting a GHG emissions inventory for the infrastructure work it does and is going to use it to inform future actions related to a reduction in GHG emissions. Some pretty big targets, right?
Let’s dig in a little bit deeper to one specific area: water. The company will measure its water footprint, the footprint on the work it does, and help clients meet their own sustainable water use objectives. This year, it is conducting a water use assessment for its operations and is going to start applying the findings to managing direct and indirect water use in offices, on construction sites, and in the supply chain. It is also doing a water use assessment for the infrastructure projects it is working on and is going to use it to inform future actions.
It will be interesting to see what comes of all of these objectives. Black & Veatch recognizes the challenges. The company recently published a report that shows while many businesses are elevating sustainability as a core tenet of their practices, many companies continue to establish targets without a clear understanding of how to achieve them. Here is what it found. More than 80% of companies surveyed with revenues greater than $250 million have set greenhouse gas reduction goals, but 25% are unsure how they’ll meet them. Yikes.
This is a big problem that could stall all our efforts if we don’t address this. This move to a more sustainable world and from grey to green is going to take time, no doubt, but we need to be forthcoming with what stands in our way. We must remember, we need transparency, tracking tools, and the people. Too many companies are making big claims about targets they aim to hit by 2030. I just hope they have the plan to back it up. Time will tell.
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Fashion, Sustainability, and Circularity
Fashion, Sustainability, and Circularity
Fashion, Sustainability, and Circularity
05/25/2021 We continue to see more and more companies making a bigger push for sustainability and circular. Such is the case with fashion. Clothes can be made with limited impact; be recycled and refurbished; and be long-lasting and ultimately, be kept in use for extended periods of time. Quite simply, clothing can be worn again and again, and again.
While many designers are creating products with the environment in mind these days, there are still challenges that exist. In my book, I note that of the 213 targets set following the Copenhagen Fashion Summit in 2017, it seems under 30% have been hit. Part of the challenge is that companies are struggling to increase the amount of recycled material used for clothing. Yet others are beginning to figure out how to get it done.
Consider the example of AEO (American Eagle Outfitters), which recently announced a commitment to using more sustainable raw materials and manufacturing techniques, water reduction, and the development of a limited AE (American Eagle) jeans collection using guidelines as part of the Ellen MacArthur Foundation’s Jeans Redesign project.Here is how that AE x Jeans Redesign project works: The collection uses guidelines from the foundation’s Make Fashion Circular team and adheres to the principles of a circular economy. Taking it a step further, every garment in the collection will be easily identifiable for traceability and ease of recycling. It will be very interesting to see how this project plays out for the long term.
In terms of AEO’s overall sustainability goals, the company has made progress on a plan it set in place back in 2019. Today, the company has achieved the following: conserved an estimated 2.4 billion gallons of water in 2020; used 37% sustainability sourced cotton in 2020; used almost 70 million plastic bottles in recycled polyester in 2020; saved a total of 4.5 billion gallons of water since 2017; and decreased the amount of water used to make jeans by nearly 7 gallons per jean (compared to 2017).
The company has also continued to engage with the industry for systemic improvements in garment manufacturing and strengthened its water leadership program, which has covered production guidelines for denim laundries since 2017. It now covers all denim mills used by AEO, pushing for the best water management and water recycling practices.
This is a step in the right direction, but it will be interesting to see if the AE x Jeans Redesign project will deliver successful results—and perhaps if it will evolve into more than a limited American Eagle jeans collection. Time will tell what comes of that project and what comes next for circularity in the fashion industry.
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SAP’s Push for Circular
Fashion, Sustainability, and Circularity
GHG and Sustainable Transport
05/19/2021 How can we measure, monitor, and reduce carbon emissions, all while building the foundation for a more circular economy? We need to do it together. All the generations, all the businesses, need to come together to move from our old linear ways to a more circular economy. Today let’s narrow in on how one company is making a push for circular.Consider the example of SAP. The company is going circular in two ways: it is helping its customers achieve circularity while also taking the steps to be a little bit more sustainable itself.SAP’s Journey for Carbon Neutrality
First, let’s look at what SAP is doing to achieve carbon neutrality. SAP has been using 100% renewable energy to power all of its data centers since 2014—and since 2017 SAP has been pursuing a science-based climate target certified by the SBTi (Science Based Targets initiative) to make its own contribution to limiting global warming to 1.5°C above preindustrial levels. While its zero-carbon goal applies to its own operations, SAP’s science-based climate target also encompasses the upstream and downstream value chain. How does SAP determine its emissions? The technology giant takes into account all of its direct and indirect emissions, as well as selected emissions arising in the supply chain, including those linked to business flights, business travel in rental cars, and third-party data centers. The company uses the approach of first avoiding, second reducing, and third compensating emissions.
In March, the company announced its plan to become carbon neutral in its operations by the end of 2023, which is two years earlier than it originally targeted—partly as a result of the COVID-19 pandemic. Due to changes in how employees worked and traveled in 2020, SAP was able to overachieve by 43% on its target for reducing net carbon emissions in 2020, generating 135 kilotons instead of the anticipated 238 kilotons. As a comparison, SAP’s emissions in 2019 were 300 kilotons.
How will it continue to reduce emissions going forward? Whenever possible, SAP aims to avoid the creation of GHGs (greenhouse gases) through a variety of business practices, including using telecommunication technologies rather than traveling. If emissions cannot be avoided, SAP leverages innovations, such as energy-efficient lighting in offices, efficient cooling systems in data centers, and alternative mobility solutions. SAP additionally supports the Sustainable Development Goals set in 2015 by the United Nations General Assembly, focusing particularly on goal 13, Climate Action. Here, SAP helps its more than 400,000 customers worldwide implement climate protection measures through offerings such as the Climate 21 program. Together with customers and partners, SAP will provide more information on solutions in this context as well as on the circular economy.Supporting a Circular World
Next let’s look at how SAP is helping its customers achieve circularity. In my conversation with Vivek Bapat, SVP, purpose and sustainability marketing, SAP, he explains that the company’s goal is to help the world run better and empower people’s lives. Here is one example. Since 2018, Ghana has been working on a plastic waste program that aims to clean up the environment. SAP has experience in West Africa, developing SAP Rural Sourcing Management, a solution that supports small-holder farmers and improves visibility across agricultural value chains. Since plastic pickers and rural farmers face similar issues, solutions like this can help all parties succeed. The plastics recycling pilot project will run in Accra and several smaller cities in Ghana. Building on what is learned during this first stage, the coalition hopes to expand across Ghana, West Africa, and eventually the entire continent and other regions.
This is simply one example. SAP is proudly sharing it is helping retail, packaging, manufacturing, and others to move to a more circular world. It is also partnering for this movement. In April, SAP partnered with Accentureto co-develop SAP’s new solution for responsible production and design, which includes capabilities that help companies embed sustainability metrics across their value and supply chains with a focus on product design and manufacturing. Using integrated data from across operations, companies can better design and produce products with less waste, improved recyclability, and more recycled content.
Here’s the reality. The COVID-19 pandemic sped up the journey to carbon neutrality. It allowed us all to focus on things like circularity, but can we maintain it? We need to have a real discussion about how we are going to sustain this effort. We need to understand what we need to do to maintain this type of activity. It can’t be a one and done. It must be an all-in approach. Let’s keep an eye on the progress here, so we can all move to a more circular world together.Want to tweet about this article? Use hashtags #IoT #sustainability #AI #5G #cloud #edge #futureofwork #digitaltransformation #green #ecosystem #environmental #circularworld How can we measure, monitor, and reduce carbon emissions, all while building the foundation for a more circular economy? We need to do it together. All the generations, all the businesses, need to come together to move from our old linear ways to a more circular economy. Today let’s narrow in on how one company is making a push for circular.
Consider the example of SAP. The company is going circular in two ways: it is helping its customers achieve circularity while also taking the steps to be a little bit more sustainable itself.SAP’s Journey for Carbon Neutrality
First, let’s look at what SAP is doing to achieve carbon neutrality. SAP has been using 100% renewable energy to power all of its data centers since 2014—and since 2017 SAP has been pursuing a science-based climate target certified by the SBTi (Science Based Targets initiative) to make its own contribution to limiting global warming to 1.5°C above preindustrial levels. While its zero-carbon goal applies to its own operations, SAP’s science-based climate target also encompasses the upstream and downstream value chain.
How does SAP determine its emissions? The technology giant takes into account all of its direct and indirect emissions, as well as selected emissions arising in the supply chain, including those linked to business flights, business travel in rental cars, and third-party data centers. The company uses the approach of first avoiding, second reducing, and third compensating emissions.
In March, the company announced its plan to become carbon neutral in its operations by the end of 2023, which is two years earlier than it originally targeted—partly as a result of the COVID-19 pandemic. Due to changes in how employees worked and traveled in 2020, SAP was able to overachieve by 43% on its target for reducing net carbon emissions in 2020, generating 135 kilotons instead of the anticipated 238 kilotons. As a comparison, SAP’s emissions in 2019 were 300 kilotons.
How will it continue to reduce emissions going forward? Whenever possible, SAP aims to avoid the creation of GHGs (greenhouse gases) through a variety of business practices, including using telecommunication technologies rather than traveling. If emissions cannot be avoided, SAP leverages innovations, such as energy-efficient lighting in offices, efficient cooling systems in data centers, and alternative mobility solutions.
SAP additionally supports the Sustainable Development Goals set in 2015 by the United Nations General Assembly, focusing particularly on goal 13, Climate Action. Here, SAP helps its more than 400,000 customers worldwide implement climate protection measures through offerings such as the Climate 21 program. Together with customers and partners, SAP will provide more information on solutions in this context as well as on the circular economy.Supporting a Circular World
Next let’s look at how SAP is helping its customers achieve circularity. In my conversation with Vivek Bapat, SVP, purpose and sustainability marketing, SAP, he explains that the company’s goal is to help the world run better and empower people’s lives. Here is one example. Since 2018, Ghana has been working on a plastic waste program that aims to clean up the environment. SAP has experience in West Africa, developing SAP Rural Sourcing Management, a solution that supports small-holder farmers and improves visibility across agricultural value chains. Since plastic pickers and rural farmers face similar issues, solutions like this can help all parties succeed. The plastics recycling pilot project will run in Accra and several smaller cities in Ghana. Building on what is learned during this first stage, the coalition hopes to expand across Ghana, West Africa, and eventually the entire continent and other regions.
This is simply one example. SAP is proudly sharing it is helping retail, packaging, manufacturing, and others to move to a more circular world. It is also partnering for this movement. In April, SAP partnered with Accentureto co-develop SAP’s new solution for responsible production and design, which includes capabilities that help companies embed sustainability metrics across their value and supply chains with a focus on product design and manufacturing. Using integrated data from across operations, companies can better design and produce products with less waste, improved recyclability, and more recycled content.
Here’s the reality. The COVID-19 pandemic sped up the journey to carbon neutrality. It allowed us all to focus on things like circularity, but can we maintain it? We need to have a real discussion about how we are going to sustain this effort. We need to understand what we need to do to maintain this type of activity. It can’t be a one and done. It must be an all-in approach. Let’s keep an eye on the progress here, so we can all move to a more circular world together.
Want to tweet about this article? Use hashtags #IoT #sustainability #AI #5G #cloud #edge #futureofwork #digitaltransformation #green #ecosystem #environmental #circularworld
GHG and Sustainable Transport
Fashion, Sustainability, and Circularity
GHG and Sustainable Transport
04/20/2021
Emissions from transportation systems represent a major problem for cities around the globe—particularly those in developing countries. A new report shows sustainable modes of transport in Accra, Ghana, could save up to 5,500 premature deaths. That is in addition to improved air quality and a total of $15 billion from averted healthcare costs.
The research from WHO (World Health Organization) Urban Health Initiative identifies the benefits of developing a more comprehensive and decarbonized public transportation system. Vehicles are one of the fastest growing contributors to climate emissions. In 2010, the global transport sector accounted for 14% of the GHG (greenhouse gases) budget.The impact of greenhouse gases is something I cover in depth in my book, Sustainable in a Circular World,: Here is an excerpt from the book.
Using its own climate models and statistical analysis of global temperature data, National Aeronautics and Space Administration (NASA) scientists admit most of the emissions of carbon dioxide and other greenhouse gases (GHG) into the atmosphere are impacting global temperature.
NASA and the National Oceanic and Atmospheric Administration (NOAA) study of the Earth’s global surface temperatures report shows that 2019 was the second warmest year since modern recordkeeping began in 1880. Looking further, 2019 temperatures only trailed those of 2016
t took almost a century of research to reveal that each decade is warmer than the one before. Dedicated global-surface temperature research monitoring only began in the 1800s, before that there’s no data showing human-produced fluctuations in the Earth’s history.However, what the current data does show is the average global surface temperature jumped more than 2° F (slightly above 1° C) ahead of the late 19th century. Data reveals the last Ice Age was closer to 10° F colder than the pre-industrial temperature.
As more and more debate, there appeared to be some consensus that carbon emissions was having an impact on the climate. We started to see NASA, NOAA, or other scientists pointing out that carbon emissions are having a warming effect on the environment. Familiar names like Svante Arrhenius, Guy Stewart Callendar, and Charles Keeling really started to explore emissions for raising the atmosphere’s temperature. It was Keeling that was known for the Keeling Curve in the 1960s, using computer models consistently, showing a doubling of CO2 to produce a warming of 2° C or 3.6° F within the next century that drew more interest.
However, a key development comes by research of Serbian astrophysicist Milutin Milankovitch on his theory relating to the Earth’s motion and long-term climate change. Studying the Earth’s temperature dating back some 600,000 years, Milankovitch developed a mathematical theory on how orbital variations such as eccentricity, precession, and axial tilt affected solar radiation levels. These periods of orbital motions have become known as Milankovitch cycles. All of his findings were published in his book Canon of Insolation and the Ice Age Problem, in 1941. By the 1960s tech advancements found in deep sea ice cores and plankton shells, which helped pinpoint periods of glaciation, corroborated his findings.
Again, as scientists looked at all these models—that were actually decades ago—the real challenge is determining who would prevail in understanding the climate change.
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The Energy Transition
The Circularity Gap
The Circularity Gap
04/06/2021
By applying circular strategies, we can cut excessive material consumption and emissions. The Circularity Gap Report 2021 shows if we continue business-as-usual, we will emit 65 billion tonnes of GHGs (greenhouse gas) emissions in 2030. GHG emissions are directly linked to the way we extract, produce, and consume.
The report suggests if we change the way we produce and consume materials and double global circularity, we can make a big impact. Think reducing global emissions by 39% by 2032 and reducing total material footprint by 28% by 2032. We can also ensure we steer well below a 2-degree temperature rise.
In my book, Sustainable in a Circular World, I narrow in on this very topic citing what might happen if we don’t take the steps to move to a more circular economy.Today, this linear economy of take-make-waste, where we see material flow directly from resource extraction through manufacturing processes to landfills has reached its capacity. More specifically, environmentalists point to unsustainable assembly that depletes natural resources and consistently pollutes the environment. While the goal of a circular economy is based on reducing the load, reuses, and redeveloping resources through a renewable process.We are hearing over and over again we are on the precipice of failure unless we act now. We are within a decade of pure carbon collapse unless we heed the global warnings of the scientists. And what’s more, the United States is the second largest culprit of CO2 emissions, trailing only China.
According to the Circularity Gap Report, the upward trend in resource extraction and greenhouse gas (GHG) emissions still flows in the wrong direction. Simply meaning it is only at 8.6% circular. And that means the gap is not narrowing. Interestingly, two years ago it was at 9.1% circular. Things are clearly going in the wrong direction. No surprise there when you think about how we consume things in this world. So, guess what? There is a lot of work to be done, especially if there’s any hope of achieving climate change and reducing current levels of 1.5° Celsius (2.7° Fahrenheit). Perhaps the bigger question is whether we can even consider reaching the aforementioned goals if we can’t get individuals, companies, and countries all on the same page?
The good news is we are making some very big moves in the right direction. Will it be enough to double global circularity to make the impact we need to restore the ecosystem? The Circularity Report has made some good points, but we need to move faster, sharper, and all row together. Time will tell.
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The Circularity Gap
The Circularity Gap
The Circularity Gap
03/30/2021
By applying circular strategies, we can cut excessive material consumption and emissions. The Circularity Gap Report 2021 shows if we continue business-as-usual, we will emit 65 billion tonnes of GHGs (greenhouse gas) emissions in 2030. GHG emissions are directly linked to the way we extract, produce, and consume.
The report suggests if we change the way we produce and consume materials and double global circularity, we can make a big impact. Think reducing global emissions by 39% by 2032 and reducing total material footprint by 28% by 2032. We can also ensure we steer well below a 2-degree temperature rise.
In my book, Sustainable in a Circular World, I narrow in on this very topic citing what might happen if we don’t take the steps to move to a more circular economy.Today, this linear economy of take-make-waste, where we see material flow directly from resource extraction through manufacturing processes to landfills has reached its capacity. More specifically, environmentalists point to unsustainable assembly that depletes natural resources and consistently pollutes the environment. While the goal of a circular economy is based on reducing the load, reuses, and redeveloping resources through a renewable process.We are hearing over and over again we are on the precipice of failure unless we act now. We are within a decade of pure carbon collapse unless we heed the global warnings of the scientists. And what’s more, the United States is the second largest culprit of CO2 emissions, trailing only China.
According to the Circularity Gap Report, the upward trend in resource extraction and greenhouse gas (GHG) emissions still flows in the wrong direction. Simply meaning it is only at 8.6% circular. And that means the gap is not narrowing. Interestingly, two years ago it was at 9.1% circular. Things are clearly going in the wrong direction. No surprise there when you think about how we consume things in this world. So, guess what? There is a lot of work to be done, especially if there’s any hope of achieving climate change and reducing current levels of 1.5° Celsius (2.7° Fahrenheit). Perhaps the bigger question is whether we can even consider reaching the aforementioned goals if we can’t get individuals, companies, and countries all on the same page?
The good news is we are making some very big moves in the right direction. Will it be enough to double global circularity to make the impact we need to restore the ecosystem? The Circularity Report has made some good points, but we need to move faster, sharper, and all row together. Time will tell.
Want to tweet about this article? Use hashtags #IoT #sustainability #AI #5G #cloud #edge #futureofwork #digitaltransformation #green #ecosystem #environmental #circularworld #circularity
Greening our Globe
The Circularity Gap
Businesses Benefit from Sustainability
03/23/2021
From our cities to our homes, technologies can help make our buildings more energy efficient and green. A new report from Guidehouse Insights analyzes the global market for residential LED, non LED, and connected LED lights. It shows the global revenue for residential lighting controls is expected to reach $2 billion by 2029.
Here is the takeaway: LED adoption continues to grow as prices decline, building codes evolve, and connected functionality becomes ubiquitous.
This is in line with a recent NAHB (National Assn. of Home Builders) report that uncovers the top three sustainable and green building trends and features in homes. Yes, efficient lighting made the list, along with windows and appliances, and ENERGY STAR rating for the whole home.
Smart, sustainable buildings use centralized, intelligent energy control systems that are often combined with solar panels, geothermal wells, harvested rainwater, natural lighting, and other environmentally friendly techniques to significantly lower energy usage.
What is really cool is the companies providing the lighting technologies are uncovering how they can be more sustainable and circular as well. In my book, Sustainable in a Circular World, I give the example of Signifyon page 103. Here is an excerpt from the book.
Signify is one company. The Philips Lighting brand designs streets lights and components with recycled parts. In fact, the company has a circular strategy program, to double revenue by 32% by 2025. Interactive software manages, monitors, and controls lighting systems, luminaires, sensors, and connected devices from Signify and other manufacturers. Philips also encourages other businesses to take advantage of its LED connected lighting with embedded IoT sensors and software to manage and optimize building efficiency and create a sustainable smart office.
In my book, I have a number of case studies, demonstrating how the corporate world has turned to greater sustainability, helping to lead the charge to a more sustainable world.
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Businesses Benefit from Sustainability
Businesses Benefit from Sustainability
Businesses Benefit from Sustainability
03/16/2021
In spite of the COVID-19 pandemic, we continue to see businesses remain committed to achieving sustainability goals—while also setting some big, new targets for the coming decade.
Case in point: Ericsson’s new Sustainability and Corporate Responsibility Report. It shows how it creates value by focusing on three pillars: responsible business, environmental sustainability, and digital inclusion. Within its own operations, Ericsson reported a 57% reduction in carbon emissions and remains on track to be carbon neutral by 2030.
This is simply one example. In my book, Sustainable in a Circular World, I highlight a number of different case studies. One is the story of Bechtel. Here is a short excerpt from the book:
Companies are doing sustainability. Sustainability needs to be part of the day-to-day work. As a company, understanding what sustainability means by first defining it, and working with communities on a shared vision is essential. Some of the best advice perhaps is don’t think of it as circular economy, but rather as part of the everyday culture.
To a company like Bechtel, achieving sustainability begins with design, material sourcing, continuing through construction to work toward the least amount of waste and water consumption for the community.
According to Bechtel’s Global Head of Sustainability Tam Nguyen, it’s a shared vision with the community and stakeholders. It’s about creating and enabling the environment the team is working in and benefiting the community in the long term.
Bechtel has been working diligently to integrate the United Nations sustainable goals across everything it does by 2030.
One example, Bechtel likes to point to is the work it was part of in the Bechtel-Enka Joint Venture, in South Caucasus Pipeline
Expansion (SCPx) Project in the Republic of Georgia. The project includes building two compressor stations, a metering and pressure-reducing station, and associated access roadways at several locations across the country along an existing pipeline.
Nguyen described this as a little city because at the peak period of work there were some 4,175 workers spread across three sites and another 1,945 people living on camps set up for the project. In order to mitigate the impact on the community Bechtel and the customer had to be innovative. As part of this development these little communities had to function like traditional towns, providing their own energy, waste systems, and sourcing.
To read the full story and to learn more about what Bechtel and other companies are doing, be sure to get a copy of my book “Sustainable in a Circular World” on Amazon.
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ESG: Climate Change Top Concern
Businesses Benefit from Sustainability
ESG: Climate Change Top Concern
03/09/2021
ESG: Climate Change Top ConcernMoney managers who use ESG (environmental, social, and governance) factors in their investment analysis say climate change continues to be their top concern, according to a report released at the end of last year.
The US SIF Foundation’s 2020 biennial “Report on US Sustainable and Impact Investing Trends,” shows that sustainable investing assets totals show a 42% increase over the last report. Insurance companies and educational institutions cite climate change as their top ESG investment focus overall.
The bottomline is ESG is the new three-letter acronym to keep an eye on and climate change remains the most important environment issue. I challenge this a little bit in my book, Sustainable in a Circular World. Here is an excerpt for p 114:
When examining the broader sustainability issue, it’s important to look beyond just climate. In the current context, a lot of attention is increasingly being brought on non-financial, environmental, social, and governance factors.
Not just for sustainability issues, but when examining the competitiveness issues to win marketshare and investment across the ESG investing, some put the dollars about $30 trillion of ESG investment worldwide. It’s important to recognize, there is a lack of market integrity and transparency in some of these assets. And that is why it is essential to have a better definition, understanding of the criteria, and the impact assessments outlined. A problem still exists that companies can receive high-credit rating for the E metrics (or the environmental part of ESG metrics), but still be a very, high carbon-intensive corporation.
Perhaps another point to consider is the concept ESG is used in relation to investing and philanthropy. Oftentimes it is used to evaluate financial performance for measuring positive outcomes such as decreasing costs, improving profitability, and better energy efficiency. Ultimately, these companies will provide better behavior and to evaluate the future financial performance by measuring their sustainability. U.S. and European-based companies alike recognize the money flowing into ESG. Impact investing and philanthropy have increased significantly in recent years and as a result we are seeing more companies view corporate social responsibility (CSR) as part of environmental strategies.
When we look at what many other countries are doing, they tend to look at CSR as being more socially accountable to make a positive environmental impact. There is clearly no one way to achieve corporate sustainability. It’s all about being a socially conscious environment, coupled with employees, partners, and customers.
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Sustainability 101: Reporting
Businesses Benefit from Sustainability
ESG: Climate Change Top Concern
03/02/2021
A whopping 80% of companies worldwide now report on sustainability, according to a study released by KPMG at the very end of last year. The survey digs into trends related to sustainability reporting throughout the year 2020. Here is what it found.Geographically, we see in North America 90% of companies report sustainability, making it the highest regional reporting rate. When looking at it by vertical, we see the same six sectors that led in 2017 also continue to lead in 2020. Verticals such as technology and telecommunications, mining, automotive, oil and gas, chemicals, and forestry and paper, all top the list for sustainability reporting.
In my book Sustainable in a Circular World, I bring readers through the basics of sustainability, circularity, and trends we currently see in our personal and professional lives. Here is a short excerpt from the book:
Merriam-Webster defines sustainability as relating to or being a method of harvesting or using a resource so that the resource is not depleted or permanently damaged. Simply put, it is environmentally sound living without compromising the needs of future generations.Today many refer to sustainability as corporate, social, responsibility (CSR) or environmental, social, and governance (ESG). If you peel back the layers of the onion, you will discover the sustainability conversation is somewhat more complex depending on how you view it and your interpretation of it. In fact, all too often people will inadvertently use the acronyms CSR and ESG and the word sustainability interchangeably.
Acronyms are funny things. They can mean a lot of things, but that doesn’t mean they may be correct for everything. Naturally, in the aforementioned case they can be the right definition, but they shouldn’t be used in the same sentence.
Look at it this way, when talking about CSR, we are talking about the best practices to uphold corporate governance that comes from disclosing and even benchmarking data and information. These are the ways you measure your sustainable development goals. There is a distinct set of objectives and governance guidelines. A key difference when interpreting the role and function of each objective and how to be economically sustainable to the environment.Alright, that is just a sample. The rest of that chapter goes much deeper into reporting for stakeholders, consumers, and partners. It talks about sustainable stewardship for our economy, environment, and society. We are just getting started. How about you?
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