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Environmental Threats to Us and Mother Earth --- Seven Trends to Consider... and Develop Solutions From the Forum for the Future This week we celebrated Earth Day. That first (1970) observance became a catalyst for action – soon after the first of a series of environmental-focused Federal legislation began to change dirty air to cleaner and then clean, and more laws to address a very unhealthy state of affairs in the U.S.A. (The Environmental Act, Clean Water Act, Clean Air Act, RCRA, etc.). But…the challenges for society have not gone away. The list of “hot ESG issues” grows by the week. Once an ESG issue emerges and people begin to dive into the details, a range of sub-issues arises. In this corporate proxy season we are seeing top-line issues in focus and the underlying questions that investors have as they bring their resolutions to the companies for inclusion in the voting. Example: Where “political spending” began as a broad issue the investors moved on to ask from where the company money was being spent directly (corporate donations to political party or candidate or PAC) to now, indirectly (is the company’s money going to business industry groups that lobby against shareholder interest – which ones, addressing what issues, how much money?) Some environmental challenges of the 1970s are still with us (consider the impact of coal-burning, the state of plastics disposal, water treatment such as in animal husbandry and fracking) -- and more issues are in focus under the huge bundle we refer to as “climate change” issues. The evolvement of ESG as an integrated approach for investor evaluation of companies has complicated life for many corporate managers. In the past, a large-cap would assemble the “top 10” issues list for the management team and their direct reports to address. For 3M, as example, “highway safety” and related issues under the heading in the past would be high on the list (the company’s important product offerings would be directly impacted by changes). Today, that Top 10 list is all about the materiality of the issue(s) for many investors and companies and how issues are measured, managed and reported to stakeholders. In many large-cap companies a broader-based team will be busily shaping ESG strategy, policy, sustainability team practices and addressing issues-associated risk management on a much wider range of topics and subtopics. Timothy McClimon, head of the American Express Foundation, brings us seven global trends – and their relevant issues – impacting the sustainability movement today. (You can think about how the seven impact your organization through the 2020s, the focus of the research and perspectives shared.) He reviews the Forum for the Future’s report in a Forbes commentary. The report is “Driving Systems Change in Turbulent Times” – with major implications for “how” or even “if” we will be able to address current global “E” challenges. (Are patterns of behavior, structures or mindsets shifting toward or away from sustainability?) Consider: First – the plastics kickback; we continue to produce and then dispose of eight million tons each year with no real change in sight. (We are adding tons of material that will go “somewhere” and have an impact on society.) Second – Climate change and the impact on migration; large parts of the world are becoming less hospitable and more people will try to move to safer places. Mass migrations are ahead. Third – around the world, Nationalism Marches Again; this is leading to fragmentation, intolerance, competition for fewer resources… complicated by growing inequality and a range of old and new “S” issues. Fourth – We Live in the “On-Life” – by the end of this year, half of the world’s 7-billion-plus will be online, with issues arising (mental health, social cohesion, personal interaction, privacy and security, and more). Fifth – The Rise of Participatory Democracy; cities and states lead the way in combating rising levels of protectionism and nationalism, which may usher in a new era of more local decision-making and civic participation. Sixth – Asia’s Changing Consumerism; China leads the way with India, Japan, South Korea and Thailand close behind in moving more people into middle class. But, we are losing our global capacity to sustain them as the pursue the good life. Millennials may slow the trend in Asia (they’re more conscious consumers). Seventh – Biodiversity is Now in Freefall; scientists see mass extinction of some plant and animal species and one-fifth of the valuable Amazon rainforest has disappeared. (Something has to give to make room for growing food to meet the needs of the growing Earth population.) Little is being done about this, say the report authors. How can we meet these global environmental challenges – what principles can be adopted to preserve the good life so many of the citizens of Earth enjoy today? Some are spelled out in the Top Story for you. Author Timothy J. McClimon is president of the American Express Foundation and serves on not-for-profit boards. He also teaches at New York University and at Johns Hopkins University. Click here for more on the Forum for the Future (not for profit). Each of the 7 trends has a chapter devoted to the issues. Click here for the full report.
7 Global Trends Impacting The Sustainability Movement
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Headlines From the Corporate Sector German prosecutors charge former Volkswagen CEO Martin Winterkorn with fraud Chevron says Dutch Supreme Court rejects Ecuador's $9.5 billion claim Not just Amazon: 60 big companies paid $0 in taxes under Trump law Electric cars are finally starting to take off. Congress should keep them affordable. J&J’s first-quarter earnings drop 14% as legal costs soar Why Ford And Other American Cars Don’t Sell In Japan - video only FCC chief seeks to block China Mobile from operating in U.S. Samsung shares tumble amid concerns its foldable phones are breaking | GRI Sector Standards for Oil, Gas Coal Nominations Invited for Participants GRI is now inviting nominations to the project working group developing the first GRI Sector Standard for oil, gas and coal as part of the new GRI Sector Program. In the program, standards will be developed that are specific to certain sectors. The GRI Sector Standards will identify and describe a sector’s impacts and stakeholder concerns from a sustainable development perspective. The Sector Standards will be part of the GRI Sustainability Reporting Standards. Organizations reporting using the GRI Standards will use the Universal Standards, the Topic-Specific Standards, and the applicable Sector Standard(s). Sectors will be prioritized by the significance of their impacts – the higher the impact a sector has on sustainable development, the higher its priority. Ultimately, the aim is for the GRI Sector Program to cover allhigh-impact sectors. The open call for the Oil, Gas, and Coal Project Working Group is now open and will close 4 May 2019. You are invited to nominate yourself by submitting your CV and an application form to oil@globalreporting.org. Through participation in the project (this and other projects), valuable experience and insights can be shared as the Sector guidance is developed. To find out more about the approach, visit the GRI , The Oil, Gas, and Coal Sector Standard , and the Terms of Reference. ________________________________________ New Governance & Accountability
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G&A Institute Sustainability Update™ When Will Sustainable Investing Be Considered to be in the Mainstream? ________________________________________
________________________________________ _________________________________________ Louis Coppola from G&A Institute Goes In Depth on How to Improve ESG Performance
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_________________________________________ FLASH REPORT: 85% of S&P 500 Index® Companies Publish Sustainability Reports in 2017
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The Sustainability Highlights eNewsletter is prepared by Governance & Accountability Institute, Inc. based on continuous monitoring of trends and developments in Sustainability and ESG. Governance & Accountability Instiute is the "Sustainability Headquarters™" for clients in the corporate, investment, public and social sectors. Based in New York, G&A is a for-profit consulting organization providing a range of value-added strategies, services and resources related to ESG & sustainability to clients in the corporate and capital markets communities.For G&A's full range of services, click on each of the links below: For more information, contact Governance & Accountability Institute, Inc. (New York, New York) | |||||||||||||||
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