CSOs – CROs – On the Rise in Corporate America...
Which Way is Forward in These Key Titles?
Sometimes the “chief” whatever is enduring (as in Chief Financial Officer/CFO) and sometimes the chief position is fleeting (Chief Strategy Officer was the rage in the 1980s). We are heartened by the relatively rapid rise of the new chieftains in Corporate America – the “CSO” (Chief Sustainability Officer). The duties and organizing principles for this office are still being worked out. Does the CSO report up to the C-Suite (to CEO)? Do they have access to board room? Are they somewhere “down below,” like the fellows in the steamship boiler room who keep the big boat moving but are not on the bridge with the officers in white suits. Are they in the middle – reporting up to the CEO but through another “chief.” (Direct report to CFO is often the line up for some CSOs.) We’ve seen cases where the sustainability team is headed by the CEO in some structure, and the CSO is the critical influence in the team setting, alongside the CEO. European models are different from the U.S. corporate structure. The CEO is less king and more first among slightly-lesser-equals (at least in influence). There is a trend in place (and has been for about a decade) with large public companies and some mid-caps and small-caps appointing the CSO. The position is a connection point for a growing range of collaborators (internal and external). Subject matter experts (SMEs) and content owners inside don’t report to the CSO but do feed data, narrative, background information on an informal and formal basis (this is especially important for the company’s sustainability reporting). Where are we in this evolving business trend (appointing CSOs)? Our top story this week is from CR (Corporate Responsibility) Magazine – “The Growing Influence of the CSO,” by author Susan Hunt Stevens (CEO of WeSpire, an employee engagement platform for companies). It’s a nice perspective on the origination and growth of the CSO function. One aspect of all of this that we at G&A Institute monitor is the parallel development, the appointment of Chief Corporate Responsibility Officers (CROs). What are the duties of the CSO and CRO… differences… similarities… paths forward (and upwards on the corporate ladder)? Why do some companies title efforts “sustainability” and others, “responsibility” and even “citizenship” (like GE and American Airlines)? Will these come closer together and merge? Will there be separate job descriptions and expectations (of the “chiefs” by the top echelon “chiefs”)? Stay Tuned! Top Story The Growing Influence Of The Chief Sustainability Officer
(Thursday - June 16, 2016)
Source: CR Magazine - the country’s first chief sustainability officer (CSO) was appointed in 2004. Since then, the position has rapidly evolved as companies, employees, investors, and partners continue to recognize the value of sustainability and... Sustainability in Focus Why shoppers are the real challenge for M&S' sustainability ambitions
(Monday - June 13, 2016)
Source: BusinessGreen - Nine years and three chief executives since Marks & Spencer first launched its Plan A initiative on eco and ethical targets, the UK retailer is now something of an elder statesman on sustainability reporting... What am I doing about sustainability in my business?
(Monday - June 13, 2016)
Source: The Media Online - “In a volatile world of growing social inequality, rising population, development challenges and climate change, the need for businesses to adapt is clear, as are the benefits and opportunities,” says Paul Coleman, CEO of... Which Companies Lead at Integrating Sustainability into Business Strategies?
(Tuesday - June 14, 2016)
Source: Environmental Leader - Unilever does the best job integrating sustainability into its business strategy, a position the company has held for the past six years, according to a survey by global consultancies GlobeScan and SustainAbility... 5 Things the U.S. Could Learn from Norway about Sustainability
(Wednesday - June 15, 2016)
Source: R&D Magazine - The Government of Norway has been bestowed with the 2016 Global Standard-Setter award by the Rainforest Alliance this spring. It was the first time that the New York-based global nonprofit organization dedicated to conservation... Finding Value Through Sustainability - video
(Wednesday - June 15, 2016)
Source: Bloomberg - Jon Hale, Morningstar's head of sustainability research, discusses the benefits of sustainable investing. He speaks with Bloomberg's Vonnie Quinn at the 2016 Morningstar Investment Conference in Chicago... How can food manufacturers incentivise sustainability and boost growth?
(Wednesday - June 15, 2016)
Source: Food Navigator - From green bonuses for Dutch dairy farmers to better crop efficiency for Italian wheat growers, European manufacturers are finding ways to make agricultural sustainability good for the planet and good for business. Barilla and... Today's jobs, tomorrow's sustainability profession
(Wednesday - June 15, 2016)
Source: GreenBiz - Sustainability team headcounts and budgets are growing at nearly half of the survey respondents’ organizations. Headcount increased in 46 percent of respondents’ organizations while 41 percent stayed the same... The Growing Influence Of The Chief Sustainability Officer
(Thursday - June 16, 2016)
Source: CR Magazine - the country’s first chief sustainability officer (CSO) was appointed in 2004. Since then, the position has rapidly evolved as companies, employees, investors, and partners continue to recognize the value of sustainability and... Is this sustainability's man-on-the-moon moment?
(Thursday - June 16, 2016)
Source: GreenBiz - In a recent PwC survey, nearly a quarter of CEOs said their company has changed its very sense of purpose in the last three years to take into account the broader impact it has on society... SGX launches four sustainability stock indices
(Friday - June 17, 2016) Associated Profiles : Jantzi-Sustainalytics, Sustainalytics
Source: Business Times - The Business Times - The indices will rely on assessments of environmental, social and governance (ESG) criteria by Sustainalytics. The SGX Sustainability Index is the broadest benchmark, and will include all of the... Standardized OHS Sustainability ReportingBy
(Friday - June 17, 2016)
Source: Environmental Leader - A new guide aims to standardize occupational health and safety sustainability reporting, providing OHS professionals with metrics and best reporting practices...
Ford Announces Better World Project, Releases 2015-16 Sustainability Report
(Friday - June 17, 2016)
Source: The News Wheel - Today marks the release of the 17th annual Ford Sustainability Report, which itself marks the launch of a new pilot program that will seek to use that automaker’s available mobility resources to provide necessary goods and... ESG Issues & Players 6 CEOs with excessive executive compensation packages
(Wednesday - June 15, 2016)
Source: Bankrate - Yahoo's business troubles not only puts CEO Marissa Mayer under the harsh glare of the shareholder spotlight, it highlights the issue of sky-high executive compensation packages when the CEO is heading for the door… The U.S. and China Are Neither Allies Nor Enemies — But They Must Get Along
(Tuesday - June 14, 2016)
Source: Huff Post - Perceptions in both China and the United States on China-U.S. relations are now highly diverse. In particular, recent media reports have painted the South China Sea as a new geopolitical wrestling ground for the two... The World Nears Peak Fossil Fuels for Electricity
(Monday - June 13, 2016) Associated Profiles : Bloomberg New Energy Finance
Source: Bloomberg - That's according to a new forecast by Bloomberg î??New Energy Financeî?? that plots out global power markets for the next 25 years. Call it peak fossil fuels, a turnabout that's happening not because we're... 30 years ago scientists warned Congress on global warming. What they said sounds eerily familiar
(Monday - June 13, 2016)
Source: Washington Post - Thirty years ago, on June 10 and 11 of 1986, the U.S. Senate Committee on the Environment and Public Works commenced two days of hearings, convened by Sen. John H. Chafee (R-RI), on the subject of “Ozone Depletion, the... Asset Managers, US Pension Funds,
Sovereign Wealth Funds Executive pay in spotlight at shareholders meetings
(Thursday - June 16, 2016)
Source: Nikkei - A key focus for investors at the upcoming Nissan Motor general shareholders meeting this year is how much the automaker paid President and Chief Executive Officer Carlos Ghosn for the year ended March, as the company... No wonder our pensions are in crisis: The FTSE giants with vast pension black holes still handing billions to shareholders
(Thursday - June 16, 2016) Associated Profiles : Pension Protection Fund - United Kingdom
Source: This is Money - It means the 5,945 large schemes watched by the Pension Protection Fund (PPF) had a combined deficit of £294.6billion at the end of May £24.4billion higher than a month earlier. Today... New York's $178 Billion Pension Sees Returns Lag as Stocks Fall
(Wednesday - June 15, 2016) Associated Profiles : New York State Common Retirement Fund
Source: News Max - The results for the New York State Common Retirement Fund, the nation's third largest public pension, were the worst since 2009 and lagged the 7 percent annual returns that it counts on to pay benefits to more than... Watching the Watchers  Investor Network on Climate Risk (INCR)
Headquarters: Boston, Massachusetts
Established: Launched November 2003 at the United Nations Institutional Investor Summit in New York -- 300 institutions participated.
Key Partners
Ceres, United Nations, large institutional investors
OVERVIEW/MISSION
"INCR supports 100 institutional investors with assets totaling $10 trillion by identifying the financial opportunities and risks in climate change and by tackling the policy and governance issues that impede investor progress toward more sustainable capital markets."
BACKGROUND
Investor Network on Climate Risk (INCR) is a project of Ceres - the Coalition for Environmentally Responsible Economies. CERES was founded after the Exxon Valdez oil spill, and its initial corporate pledges on the environment were "the Valdez Principles," which later become the Ceres Principles and, most recently, the United Nations Global Reporting Initiative. From the INCR: "With its unique capacity to foster constructive engagement between investors, companies, environmentalists and policymakers, INCR has grown from 10 institutional investors managing $600 billion in 2003, to 100 members managing nearly $10 trillion in assets today."
METHODOLOGIES / OPERATIONS
Investor Network on Climate Risk is a project of Ceres, and INCR benefits from its parent organization's network of contacts and infrastructure: key INCR staff members are also listed as staff of Ceres. INCR has always stressed that global climate change presents risks as well as opportunities: the organization cites as successes "formal guidance on climate change-related disclosure" from Canadian and U.S. regulators; an investor campaign on strengthening "risk oversight measures for deepwater oil drilling, natural gas 'fracking' and oil sands production"; improved climate-related programs at Fortune 500 companies; and a 2010 forum with financial leaders. Differentiation: INCR was established by a well-known, credible organization (Ceres) working in sustainability and socially responsible investments. The Network holds biennial investor summits. The 2012 event, "2012 Investor Summit on Climate Risk & Energy Solutions," hosted 500 people at the United Nations on January 12, 2012. Topics of discussion included data on clean energy investments, research on climate investments and policy, and institutional investors' approaches to climate change. Video of the summit is available online. The 2010 event, called "2010 Investor Summit on Climate Risk: Developing a Low-Carbon Economy, Leveraging Private Investment," was INCR's fourth summit. It "explored how the rapid global shift to clean technologies and energy efficiency can stimulate economic growth, and highlights how investors can participate in the low-carbon transition." INCR's second Institutional Investor Summit at the United Nations (2005), looked at issues such as corporate climate risk disclosure and encouraged research analysts and fund managers to consider these risks. The 2008 Investor Summit on Climate Risk -- co-hosted by the United Nations Foundation -- resulted in the Investor Network on Climate Risk Action Plan, released by almost 50 institutional investors managing assets of over $1.75 trillion. The plan intends to "boost investments in energy efficiency and clean energy technologies and require tougher scrutiny of carbon-intensive investments that may pose long-term financial risks." News Sweeps | 
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