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The ESG Report podcast is hosted by Tom Fox. In this special 3-part series, I take a deep dive into EV battery regulation in the US and EU. In this Part 3, we consider EU legislation and regulatory requirements for EV batteries and EV battery supply chains.  Pamela Fierst-Walsh is a prominent voice in critical mineral supply chain issues and a recognized leader in policy development, ESG issues, and international affairs.  From 2017-2021, Pamela drove the reorientation of U.S. diplomacy toward prioritization of minerals supply chains as the U.S. State Department’s Senior Advisor for Critical Minerals.  She coordinated the U.S. The Departments of Commerce, Defense, and Energy worked together to support National Security and Economic Council agendas. In June 2021, she played a key role in shaping the Biden Administration’s 100-day Supply Chain Review on Building Resilient American Supply Chains to improve U.S. competitiveness for clean energy and technological advancement, which set the foundation for greater U.S. clean energy investment under the 2022 Inflation Reduction Act and other acts.  She regularly advises senior U.S. officials, private sector actors, and foreign counterparts.  In 2023, she joined the Board of IMPACT, a non-profit organization focused on empowering communities through greater governance of the natural resources they rely upon.  She is the CEO of PFW Advisory, LLC, and is based in Washington, DC. Pamela’s viewpoint on EU battery regulation is that it is a revolutionary measure in establishing detailed categories and requirements for batteries, such as portability, usage in cars, and electric vehicles, regardless of where they are manufactured. Drawing from her extensive expertise, Fierst-Walsh has noted the similarities between EU regulations and the existing requirements in the United States, particularly in terms of sustainability and reusability scores. QA1QQ1QAdditionally, she emphasizes the importance of the battery passport as it offers comprehensive insights into a battery’s manufacturing details, carbon footprint, materials, and performance. Moreover, she does not overlook the potential difficulties manufacturers might encounter in ensuring compliance, particularly in documenting supply chains and meeting the upcoming deadlines for carbon footprints and recycled content targets. Key Highlights: Battery Passport Implementation in EU Regulations Battery Supply Chain Due Diligence Protocol Mineral Sourcing Guidelines and Global Compliance Resources: Pamela Fierst-Walsh on LinkedIn Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn

The ESG Report podcast is hosted by Tom Fox. In this special 3-part series, I take a deep dive into EV battery regulation in the US and EU. In this Part 2, we consider the impact of the Inflation Reduction Act on EV battery production and purchase.  Pamela Fierst-Walsh is a prominent voice in critical minerals supply chain issues and recognized leader in policy development, ESG issues, and international affairs.  From 2017-2021, Pamela drove the reorientation of U.S. diplomacy toward prioritization of minerals supply chains as the U.S. State Department’s Senior Advisor for Critical Minerals.  She coordinated the U.S. Departments of Commerce, Defense and Energy as they worked together to support National Security and Economic Council agendas.  In June 2021, she played a key role in shaping the Biden Administration’s 100-day Supply Chain Review on Building Resilient American Supply Chains to improve U.S. competitiveness for clean energy and technological advancement, which set the foundation for greater U.S. clean energy investment under the 2022 Inflation Reduction Act and other acts.  She regularly advises senior U.S. officials, private sector actors, and foreign counterparts.  In 2023, she joined the Board of IMPACT, a non-profit organization focused on empowering communities by greater governance of the natural resources they rely upon.  She is the CEO of PFW Advisory, LLC and based in Washington, DC. Pamela’s perspective on the Inflation Reduction Act, especially on the consumer tax incentives for EV battery purchases, is shaped by her deep understanding of supply chain dynamics, regulatory requirements and the legislation. She views the Act as an excellent opportunity for consumers to significantly reduce the cost of EV battery purchases, while also stipulating manufacturers to track and ensure the traceability of components in their supply chains for compliance with the Act. She underlines the broader implications of the Act, which beyond consumer incentives, nudges manufacturers to adapt their supply chain practices and consider potential reputational risks associated with non-compliance. Pamela sees the Inflation Reduction Act as a multifaceted initiative that benefits consumers and prompts manufacturers to align their operations with regulatory requirements and evolving business norms. Key Highlights ·       EV Battery Discount and Supply Chain Transparency ·       Strategic Resource Control for Domestic Manufacturing ·       Critical Minerals Supply Chain Compliance Standards ·       Due Diligence and Compliance Resources Pamela Fierst-Walsh on LinkedIn  Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn

Tom Fox hosts the ESG Report podcast. Looking for innovative solutions to tackle climate change? Look no further than The ESG Report! In this episode, Tom speaks with PJ Farrenkopf, Senior Manager of Global Energy at Jabil. With a background in government and accounting, PJ Farrenkopf, the Global Energy Head at Jabil, a Fortune 200 provider of manufacturing services, brings a distinctive perspective to his position. PJ is deeply committed to achieving sustainability goals and reducing greenhouse gas emissions, as evidenced by Jabil’s ambitious carbon reduction targets and their commitment to the Science Based Target initiative. His expertise in electricity consumption, energy contracts, carbon markets, and energy efficiency has been instrumental in driving these initiatives, and he emphasizes the importance of understanding risks, setting strategies, and monitoring and improving them to meet climate targets. He also acknowledges the leadership of Europe in setting standards for compliance and highlights the cost-saving benefits of energy efficiency. Join Tom Fox and PJ Farrenkopf on this episode of The ESG Report to learn more about his insights and experiences in achieving sustainability goals in the global energy sector. Key Highlights: PJ Farrenkopf’s Journey Through Politics and Energy Jabil’s Ambitious Carbon Reduction Targets Understanding the Intricacies of Energy Markets Business Benefits of Optimizing Energy Processes Resources: PJ Farrenkopf on LinkedIn Jabil  Tom Fox  Connect with me on the following sites: Threads Instagram Facebook YouTube Twitter LinkedIn

The ESG Report podcast is hosted by Tom Fox. Looking for innovative solutions to tackle climate change? Look no further than The ESG Report! In this episode, Tom speaks with Charity Buhrow, who, with her husband, constructs tiny homes for sustainable, off-grid living. The podcast episode “Living Off-Grid: Building Tiny Houses” explores the rising trend of living a more environmentally conscious and simple lifestyle. Charity Buhrow, who builds tiny houses in Wisconsin, shares their goal of promoting self-sufficiency and reducing dependency on the outside world. They have designed systems that allow people to live off-grid and meet their own needs. The conversation emphasizes the impact of the pandemic, which has highlighted the importance of self-sufficiency and creating one’s own life. Twisted Willows Outfitters specializes in constructing environmentally friendly structures, catering to those who want a more traditional or free lifestyle. Their commitment to sustainable sourcing and construction sets them apart, using materials that have already been knocked down and supporting local suppliers. The conversation also discusses the role of sustainable tiny houses in addressing the affordable housing crisis, highlighting their environmental benefits and cost-saving potential. These houses are built with environmentally friendly practices and can be rented, sold, or offered through land contracts to make them accessible. Independent and energy-efficient homes are also highlighted, offering homeowners the opportunity to save money and feel secure while generating their power. Additionally, the conversation explores the passionate and family-oriented culture of Den Cave and Cabin, a company that prioritizes work-life balance and creating personalized spaces for clients. Overall, the episode showcases the growing movement towards environmentally conscious living and the various ways people are embracing this lifestyle. Key Highlights: Living Off-Grid: Building Tiny Houses Sustainable Sourcing and Construction Sustainable Tiny Houses for Affordable Housing Benefits of Independent and Energy-Efficient Homes Passionate and Family-Oriented Business Culture Resources: Den Cave and Cabin Tom Fox  Connect with me on the following sites: Threads Instagram Facebook YouTube Twitter LinkedIn

The ESG Report podcast is hosted by Tom Fox. Looking for innovative solutions to tackle climate change? Look no further than The ESG Report! In this episode, Tom speaks with Kai Gray, CEO and co-founder of Motive, a software company focused on ESG data management. In this podcast conversation with Tom Fox, they discuss the growing significance of ESG in various industries and its connection to compliance. They explore the role of compliance officers in ESG, the influence of large corporate customers on driving ESG down the supply chain, and the need for standardized measures and reporting. The discussion also delves into the expanding role of compliance in incorporating external stakeholder feedback and addressing non-financial metrics. The future of ESG is predicted to involve more companies integrating it into annual reports, stricter regulations, penalties for greenwashing, and the evolution of ESG ratings. The conversation highlights the importance of clarity and understanding within the ESG industry. Key Highlights ·       Kai Gray's Journey into ESG ·       Evolution of a Company's Focus ·       ESG as a Business Driver ·       ESG's Influence on Compliance ·       ESG Regulation and the Future Resources Kai Gray on LinkedIn Motive Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn

The ESG Report podcast is hosted by Tom Fox. Looking for innovative solutions to tackle climate change? Look no further than The ESG Report! In this episode, Tom speaks with Tommy Linstroth founder and CEO at Green Badger about the role and opportunity for the construction industry in the ESG arena.   The podcast episode discusses the increasing importance of incorporating ESG practices in the construction industry. Tommy Linstroth, an expert in the field, emphasizes the need for companies to embrace ESG to remain competitive and attract talent. Linstroth highlights the demand for ESG compliance from customers, regulators, and financiers. He emphasizes the need for companies to measure and integrate various ESG factors, breaking down silos within organizations. The conversation also emphasizes the role of safety in ESG and the potential benefits of ESG in improving efficiency, talent attraction, and transparency. Overall, the episode underscores the significance of ESG integration in the construction industry and the importance of a strategic approach to its implementation. Key Highlights ·       The Intersection of Construction and ESG ·       ESG Integration in Construction Industry ·       ESG and Business Efficiency ·       Getting Started with ESG ·       ESG Implementation and Continuous Improvement Resources Tommy Linstroth on LinkedIn Green Badger Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn

Tom Fox hosts the ESG Report podcast. Looking for innovative solutions to tackle climate change? Look no further than The ESG Report! In this episode, Tom speaks with Ernest Anunciacion, Senior Director of Product Marketing at Workiva, about how Workiva uses ESG to drive stakeholder engagement. The conversation between Tom and Ernest explores the importance of stakeholder engagement in driving ESG initiatives. Workiva, a leading platform in ESG reporting, has a comprehensive roadmap focusing on innovation, the environment, philanthropy, and people. They aim to be a leading-edge technology by 2025 and achieve net zero carbon emissions by 2040. Workiva emphasizes the convergence of ESG and financial transformation and provides tools and resources for effective ESG reporting. They stress the need for consistent and decision-useful data to build trust among stakeholders. The conversation also discusses the growing importance of ESG considerations for investors, banks, and insurance companies and the potential of Gen AI in the workforce. Overall, the conversation highlights the importance of stakeholder engagement, ESG reporting, and adapting to technological advancements in driving positive change in the business world. Key Highlights: ESG Stakeholders Workiva’s ESG Roadmap ESG reporting and risk management The Impact of ESG Strategies on Investment Decisions The Potential of Gen AI Resources Ernest Anunciacion Workiva Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn

The ESG Report podcast is hosted by Tom Fox. Looking for innovative solutions to tackle climate change? Look no further than The ESG Report! In this episode, Tom speaks with Yoram Ashery, CEO at Nostromo Energy and we discuss zero carbon energy storage. In this episode, we discuss Nostromo Energy's innovative clean energy storage technology for buildings. By storing cold energy in small cells filled with water, buildings can become giant batteries, reducing dependence on the grid and advancing the energy transition. The use of cloud-based energy storage management allows for remote control and optimization of energy storage systems, creating a virtual power plant that responds to grid demands. This technology offers environmental benefits, and financial advantages, and helps in reducing carbon emissions. The podcast also highlights the challenges and solutions in transitioning to clean energy, emphasizing the need for capital, regulation, consumer participation, and innovative technologies like Nostromo. Key Highlights ·       Nostromo Energy: Clean Energy Storage ·       Cloud-based energy storage management ·       Clean energy storage and carbon reduction ·       Renewable Energy Revolution ·       Challenges and Solutions in Transitioning to Clean Energy Resources Yoram Ashery on LinkedIn Nostromo Energy Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn

The ESG Report podcast is hosted by Tom Fox. Looking for innovative solutions to tackle climate change? Look no further than The ESG Report! In this episode, host Tom Fox speaks with Shawn Kreloff from Bioenergy Devco, a company that harnesses the power of anaerobic digestion to turn organic waste into biogas. Shawn explains how his company has bought technology to turn methane gas into fertilizer, revolutionizing waste management for municipalities and large businesses. Bioenergy Devco builds, owns, and operates the plants and helps businesses meet or exceed their ESG goals. In addition to being eco-friendly, Bioenergy Devco’s technology has soil, air, and water quality benefits. Shawn also discusses his company’s exploration of the organic waste diversion market in the South and the impact it could have on job creation and the environment. Take advantage of this enlightening conversation on The ESG Report! Key Highlights: The innovative technology of anaerobic digestion Converting Methane Gas into Soil Fertilizer Anaerobic Digesters in Climate Change Mitigation ESG Impact through Air, Water, and Soil Quality BioEnergy DevCo’s Waste-to-Energy Potential in Southern USA Notable Quotes: “So, what we drill now underground in frac is organic material that’s literally been captured, you know, for, you know, millions of years.” Resources: Shawn Kreloff on LinkedIn Bioenergy Devco Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn

Tom Fox hosts the ESG Report podcast. Welcome to The ESG Report! In this episode, host Tom Fox welcomes Trysha Daskam, Managing Director and Head of ESG Strategy at Silver Regulatory Associates, to discuss how fund managers can implement effective ESG strategies. Trysha stresses the importance of having a defensible and consistent ESG program to attract investments from institutional investors. They discuss the consequences of inaccurate reporting and the need for standardization in ESG reporting across different funds. Trysha expresses her expectations for increased allocation of assets to ESG strategies and more regulation to ensure responsible investment. With regulatory guardrails increasing globally, this episode is a must-listen for any investor who cares about sustainable and responsible investments. Don’t miss this fascinating conversation between Tom Fox and Trysha Daskam. Tune in now to The ESG Report! Key Highlights: ·       Importance of ESG in Investments ·       Challenges of ESG Conversations with Institutional Investors ·       The Importance of Accurate ESG Reporting ·       Establishing ESG reporting standards ·       Data Privacy Regulations in Global Markets Notable Quotes: “And so we’re a team or firm, or a company doesn’t have a perspective on how these factors impact their investments, work, operations, etc. It is seen as an oversight and a meaningful oversight of that company manager management team.” “If you are a manager that hasn’t gone through fundraising in a period of time and you haven’t seen the request list from a placement agent or from entities looking to diligence you, and you’re not aware of the extensive questions that ESG present with respect to those investigations.” “If I could drive anything home from this conversation would be around encouraging managers to look at their ESG program, to test it, to ask the question, is every line in here defensible? It is outdated if you still need to update your ESG policy since 20 21. The space has grown. The standards have changed. The questions investors are asking have changed. Priorities have shifted.” “You must do what you say you are doing, and if you cannot do what you say you’re doing, then you must qualify it, and you must qualify it appropriately.” Resources Trysha Daskam on LinkedIn Silver Regulatory Associates Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn

The ESG Report podcast is hosted by Tom Fox. In this episode, Tom is joined by Eli Sutton is a seasoned professional with over 20 years of experience in sales and 15 years in operation leadership. He has been involved in a variety of industries, but has spent the last 10 years with Teramind, providing employee monitoring solutions to organizations. They discuss how operational sustainability can help your business grow and thrive for years to come! You will learn how operational sustainability can help your business grow and thrive over the long term. After the pandemic hit, many companies were looking to maximize their workforce productivity rather than security. Eli found that Teramind offered customizable solutions that could provide compliance, security and productivity without hindering user ability. With the right processes, resources, and tools like Teramind, companies can be operationally sustainable and maximize their growth. Eli's knowledge and experience has been invaluable in helping businesses maximize their productivity and security. Key Highlights 1. What benefits can a solution like Teramind provide to organizations in terms of security, productivity, and data management?  2. How can Teramind help organizations execute due diligence processes more efficiently and save on billable hours?  3. How have organizations' needs changed with the pandemic, and how can Teramind help them meet those new requirements? Notable Quotes 1.     "Strong work ethic, a proven process to complete each task, following through with a proven process, a team member who monitors that proven process and make sure that it's being followed and a team to overall review and optimize that proven process over time - this is the key to operational sustainability and success."  2.     "Think of a company as something like a massive ship that's going across the Atlantic. Now what does that ship need to make that journey a success?"  3.     "For a company to be operationally sustainable, it must have strong foundations." 4.     "Put in 100% of the effort and you'll make it across in record time." Resources Eli Sutton on LinkedIn Teramind Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn

The ESG Report podcast is hosted by Tom Fox. In this episode, Tom is joined by Gareth Evans, founder of Veckta. Gareth Evans had always planned to be a fast jet pilot, but decided to pursue an environmental science degree instead. After working in the oil and gas industry for many years, he found himself in Iraq, doing liability assessments in areas with massive environmental issues. This experience inspired him to become the CEO of Veckta, an energy transition platform. He works to help businesses become more sustainable, reliable, and profitable by developing their own onsite energy systems. He encourages companies to respect the energy transition process and believes that by 2030 there will be a shift to a more distributed and secure form of energy. Key Highlights 1. How can businesses use energy transition to become more profitable and sustainable? 2. What strategies can businesses use to reduce emissions and increase reliability, resilience, and security of their energy systems? 3. How can businesses leverage technology and brokering relationships to maximize their energy transition investments? Notable Quotes 1.     "We can actually be sustainable and profitable these days with these systems. Having people who are thinking strategically about the long-term sustainability of their business and also ensuring that they are maintain and grow their profitability and have a differentiated position in their market is key." 2.     "You can actually be sustainable and profitable these days with these systems."  3.     "It's not something that we can change overnight. We do need to really adapt with purpose and there's ways of doing that and ensuring that we do drive that sustainable outcome."  4.     "It's important that we're thinking about what is the worst-case scenario? What does it cost us? How do we factor that into our decision making?" Resources Gareth Evans on LinkedIn Veckta

Tom Fox hosts the ESG Report podcast. In this special 3-part series, I examine EV battery regulation in the US and EU. Part 1 considers US Foreign Entities of Concern (FEOCs) for EV battery production. Pamela Fierst-Walsh is a prominent voice in critical mineral supply chain issues and a recognized leader in policy development, ESG issues, and international affairs. From 2017 to 2021, she drove the reorientation of U.S. diplomacy toward prioritizing mineral supply chains as the U.S. State Department’s Senior Advisor for Critical Minerals. She coordinated the U.S. The Departments of Commerce, Defense, and Energy worked together to support National Security and Economic Council agendas.  In June 2021, she played a key role in shaping the Biden Administration’s 100-day Supply Chain Review on Building Resilient American Supply Chains to improve U.S. competitiveness for clean energy and technological advancement, which set the foundation for greater U.S. clean energy investment under the 2022 Inflation Reduction Act and other acts.  She regularly advises senior U.S. officials, private sector actors, and foreign counterparts.  In 2023, she joined the Board of IMPACT, a non-profit organization focused on empowering communities through greater governance of the natural resources they rely upon. She is the CEO of PFW Advisory, LLC, and is based in Washington, DC. Pamela’s perspective on the Department of Energy and Foreign Entities of Concern (FEOC) definitions is centered around the vital role these definitions play in unlocking the $6 billion funding available for domestic battery material processing, manufacturing, and recycling. She firmly believes that by understanding and complying with these definitions, businesses can tap into the incentives provided by the bipartisan infrastructure law. Her extensive experience in supply chain management, where she has seen the value of comprehending the entire chain process, from material extraction to manufacturing and recycling, has shaped her perspective. Pamela encourages businesses to engage with the Department of Energy to ensure compliance and ultimately contribute to advancing the American economy. Key Highlights: Battery Material Fund Oversight & Qualification Criteria Domestic Battery Material Processing Fund Initiative Mineral Transformation in EV Battery Supply Chain Due Diligence and Compliance Resources: Pamela Fierst-Walsh on LinkedIn Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn

The ESG Report podcast is hosted by Tom Fox. In this episode, Tom is joined by Luke Jacobs, an expert in environmental and safety compliance and one of the founders of Encamp. Jacobs is a rising star in the Environmental, Health and Safety (EHS) and ESG industry. In this episode, they discuss the opportunities and challenges associated with EHS and ESG compliance. Luke explains how Encamp provides technology solutions to help companies understand and comply with complex environmental regulations. Looking ahead, Luke outlines their plans to expand the platform to encompass global coverage over the next seven years. Tune into the ESG Report to learn more about the latest trends in EHS and ESG compliance. Key Highlights ·       Managing Environmental Regulations for Businesses [00:03:57] ·       The Overlap Between EHS and ESG [00:07:40] ·        Regulatory Impact of Chemical Plant Explosions [00:11:13] ·       The Business Opportunities of Complying with RCRA and EPCRA [00:14:55] ·       Making Environmental Regulation Compliance More Efficient and Sustainable [00:18:25] ·       Compliance with US Regulations: A Look Ahead at the Next 7 Years[00:22:25] Notable Quotes 1.     " I think importantly to think about how we actually help our customers really is to understand the complexity of the problem that they face."  2.     "It's really a report that's trying to make sure that anyone in the community knows what could actually pose a hazard in an emergency disaster response scenario from locations that are, you know, in their in their general area."  3.     "I'd say particularly as far as implementing a systematic solution that allows for businesses to actually have an ongoing process, allows for long term business continuity and risk mitigation on required compliance events, and then ultimately having to pay the cost of potentially stoppage time at locations and really, you know, all of the negative press that could come about from having some sort of known violation."  4.     "And then as far as ESG, I do think organizations that have goals that are tied to broader sustainability, waste minimization, increasing their ESG metrics  have the opportunity to mine into some of their environmental data to find opportunities to actually decrease their waste increase their recycling or their process efficiency so they actually can save money literally on not buying new product." Resources Luke Jacobs on LinkedIn Encamp

Compliance with environmental regulations is not just a cost of doing business, but a business opportunity. This is the view of Luke Jacobs, the CEO and co-founder of Encamp, a software company that helps businesses track and manage ESG reporting needs. In this episode of the ESG Report, Jacobs explains how his company is creating a unified data layer that could revolutionize environmental reporting and ESG compliance in the next decade. Luke Jacobs is the co-founder and CEO of Encamp, a software platform that helps companies maintain compliance with environmental regulations. With over a decade of experience in environmental compliance, Luke has a deep understanding of the challenges faced by businesses when it comes to regulatory compliance. Luke is committed to building a unified data layer that makes it easy for organizations to collect, aggregate and report on environmental data to regulatory bodies, with a long-term vision to expand Encamp's reach to international jurisdictions. Under his leadership, Encamp is creating opportunities for businesses to turn regulatory compliance into a business advantage. Key insights and takeaways: Environmental compliance is a complex issue with federal, state, and local regulations adding layers of nuance. Encamp's software platform helps users track regulated facilities and compliance tasks, streamlining the compliance process. By automating compliance data tracking and reporting, environmental teams can free up time to focus on sustainability goals and emerging regulations. The data collected by EHS professionals can be a valuable asset for broader ESG reporting and analysis. EHS professionals play a key role in any ESG solution and have the opportunity to increase the value they can drive into broader business initiatives. ESG provides a holistic approach to business efficiency by looking at a company in a more comprehensive and data-driven way. Tier 2 reporting is a set of regulations that mandates organizations holding hazardous materials over reporting quantities to collect, aggregate, and report data about their material inventories each year. It is filed by hundreds of thousands of facilities in the US each year and is used by first responders in emergency disaster response scenarios. The end-to-end waste reporting system helps companies understand the waste they are producing across their entire organization at any given moment. It also enables companies to comply with regulations more easily and quickly, increase business efficiency, and align with sustainability goals. Compliance with environmental regulations can be turned into a business opportunity, as it allows companies to increase efficiency and seize more market opportunities without being slowed down by antiquated processes. In the next five to ten years, Encamp aims to build a unified data layer that sits between regulated organizations and regulatory bodies to make it easy to have a unified data model of environmental data. The company will also explore ways to tackle the reporting problem within ESG as ESG regulations continue to emerge and solidify. KEY QUOTES: "I do think part of this is actually turning what is viewed as a cost of doing business right now, which is maintaining compliance with your environmental regulations and using systems and technology to actually unlock efficiencies in that, so that you're not only able to comply with all those regulations more easily and more quickly, you can actually serve the business more effectively as well." - Luke Jacobs "An emerging value driver in businesses that EHS teams are actually tapping into, is the data they're working with is often actually some of the most useful data." - Luke Jacobs "Our end-to-end system more or less helps companies understand at each site in real-time what waste they are producing at that location." - Luke Jacobs Resources Luke Jacobs at LinkedIn | Twitter | Email Encamp

*This episode first aired as episode 182 of the ESG Report.* Tom’s guest on this week’s episode of the ESG Report, Richard Blundell, discusses the risks and opportunities associated with growth in the insurance industry. They talk about how to finance a company's growth by understanding their risks. Business financing is trending towards sustainability, and Tom and Richard explore how companies can access capital by implementing sustainable practices and strategies. A global environmental services and technology consultant with over 35 years' experience, Richard Blundell has extensive experience in senior executive management and consulting. Mergers and acquisitions, corporate and market development, and operations management are among his areas of expertise. His experience includes launching new businesses and managing growth-stage businesses around the world. He is also an advisor to the Prince of Wales Accounting for Sustainability charity. Here are some key points Tom and Richard talk about:  Richard talks about his professional background and current role as an advisor on sustainability. Richard believes that sustainability in business leads to lower costs, less waste, more resource efficiency, better quality jobs, better employee engagement, and more access to capital. In addition to improving access to capital, sustainability can also improve performance in public markets, lower capital costs, and lower debt costs. Richard highlights that materiality is a way for companies to determine priorities and goals for sustainability, decarbonization, and ESG by considering what is important for both the corporation and its stakeholders Quoting Paul Wellman, Richard tells Tom that working toward social, environmental, and economic outcomes can invigorate and energize an organization. Sustainability can be a life insurance policy for the planet. Companies without decarbonization plans may not have access to financing from banks and other financial institutions as they do not understand the risks associated with growth, and may not be seen as providing a benefit to society, Richard tells Tom. Richard believes that the circular economy aims to eliminate waste by keeping inputs and outputs at their highest utility throughout their life cycle. Companies like Interface and Nike are committed to sustainability and continue to innovate and stretch their targets as they learn more about driving efficiency and process in the decarbonization journey. KEY QUOTE: "If I am going to finance a company's growth, I want to finance a company that's in the insurance industry as well. I want to finance the company's growth by understanding the risks associated with that growth.” - Richard Blundell Resources  Richard Blundell | LinkedIn

In this episode of the ESG Report, Tom Fox discusses ESG sustainability and stewardship. Guest Ben Colton explains how his company State Street Global is contributing to a better understanding and implementation of sustainability and stewardship practices for ESG. Ben Colton is the Global Head of Asset Stewardship at State Street Global. The company is a steward of their clients' investments, and as such, he oversees proxy, voting, and engagement activities. Sustainability provides opportunity. The low carbon economy will allow companies to refine their business models as they transition. They can then see sustainability as a differentiator, and see a shift in consumer behavior. Ben stresses however, that the discussion about brown vs green energy should not become polarized. How companies change in response to a low carbon economy will not be linear.  Not having diversity is a business risk, especially at the board level. This speaks to flaws within your nomination processes. Ben stresses that it is important to ensure that members are widening their nomination pool, and allowing for a diverse set of candidates.  It's time to start setting baseline expectations for carbon emissions and holding companies accountable for meeting them, Ben stresses. Companies need to be part of the solution. "Large oil and gas companies can be part of the solution. We can't polarize this discussion in brown versus green and just expect high emitting companies to just spin off all their assets to the private equity sector because that's what we're seeing and that's what we're really concerned about," he says.  Diversity is a part of human capital management, and related to corporate culture. Diverse work environments encourage innovation, create a welcoming work environment, and encourage employee engagement. Human capital management will be more important in the coming years and companies are going to be thinking about how they're integrating their employees' voices and feedback.  KEY QUOTE “Having progressive diversity and inclusion practices will promote employee satisfaction.” - Ben Colton Resources Ben Colton on LinkedIn State Street Global Advisors

What is the role of ESG in shaping a sustainable future? Tom Fox and his special guest, Lawrence Heim, take an insightful journey into the principles and practice of ESG in this week’s show. Lawrence is a true advocate for ESG and shares his unique perspective and deep understanding of ESG and its role in shaping a sustainable future.  Lawrence Heim is the editor of Practical ESG. He is a seasoned professional in the field of environmental sustainability; with a background in environmental compliance, technical consulting, non-financial auditing, and risk management, Lawrence has been at the forefront of the industry for over 30 years. His expertise and dedication have earned him a reputation as a leading voice in the ESG community.  You’ll hear Tom and Lawrence discuss: Practical ESG is a resource for ESG practitioners and the corporate community, providing practical and candid content analysis, and helping them understand complex issues. Contributions cover a range of ESG topics, including climate issues, investor perspectives, and corporate culture management. Lawrence is working on a blog about the recent SEC proposed rules for climate disclosure risk. The ISSB (International Sustainability Standards Board) just announced the creation of a working group with multiple regulatory agencies, including the SEC. The goal of the working group is to align ISSB standards with existing national frameworks. Adoption of ISSB standards is not automatic; it must go through legal and administrative processes in each country. In the US, FASB (Financial Accounting Standards Board) is responsible for the convergence process. The SEC proposed rules have received over 6000 public comments, most of which are form letters or from concerned citizens. Stakeholders are concerned about the complexity of the proposal and need more time to evaluate it. There are three different categories in the proposed framework for measuring greenhouse gas emissions: Scope One (direct emissions from the company's own equipment), Scope Two (emissions from energy purchased from third parties), and Scope Three (emissions embedded in the company's supply chain). The proposed SEC framework does not specify how to collect the data or interact with suppliers. Other established frameworks, such as Conflict Minerals, can be used as a reference to think about how to approach the collection of the data and interaction with suppliers. KEY QUOTE: “...just because IFRS adopts a standard or develops a standard, that doesn't mean that it is automatically established as a regulatory standard. These countries, as with anything else, individual countries have got to go through their legal and administrative processes to implement them and make them enforceable within their own boundaries, their own jurisdiction.” - Lawrence Heim Resources Lawrence Heim on LinkedIn | Email Practical ESG

What does remodeling a home have to do with ESG? In this episode of the ESG Report, Tom Fox and Kristy Grant-Hart discuss the role of compliance in leading the ESG initiative within a corporation. Kristy, the founder of Spark Consulting, explains how compliance professionals can expand their role to lead the E, S and G components of ESG. She also shares her personal experience of remodeling her new home with her husband and how it relates to ESG. Kristy Grant Hart is a well-known figure in the compliance field. She is the founder and CEO of Spark Consulting, a global compliance and ethics consultancy that recently celebrated its 6th anniversary. Spark Consulting now has locations in Chicago, New York, Los Angeles, and London. The company also recently released a business simulation game called Compliance Competitor, which has been picked up by many companies. Kristy has over 15 years of experience in compliance and governance, working with clients across multiple industries. She is also the author of four books, including How To Be A Wildly Effective Compliance Officer and The Compliance Entrepreneurs Handbook, which was written with Kirsten Liston and Joseph Murphy. You’ll hear Tom and Kristy talk about: ESG is a bridge between compliance, governance, and board relationships. ESG can be a huge driver for change and reputation enhancement. CCOs are skilled at bringing together people and putting programs into a framework, and this lends itself well to running a successful ESG program.  The renewed focus on G (Governance) is a positive development, as better governance leads to more ethical behavior and compliance. Compliance has a relationship with the board, the Audit and Risk Committee, and it makes sense for compliance to expand its remit of reporting and talk about different stakeholders in different ways for better board management. The push for gender diversity on boards is a step towards greater perspective and understanding of different stakeholders. Supply chain management is an important aspect of the compliance function. The June 2020 Update to the Evaluation of Corporate Compliance Programs from the Department of Justice emphasizes the importance of institutional justice and fairness within corporations, which ties into ESG principles. The compliance function and CCO must have access to all corporate data, not just compliance data, in order to effectively lead ESG efforts. The S in ESG, which stands for social, encompasses issues such as diversity, equity and inclusion, and responsible sourcing in the supply chain. The evolution of supply chain compliance and its integration into ESG efforts has been growing in recent years. Compliance professionals already have a wide range of skills and experience that can be applied to leading E efforts within ESG. They have an important role to play, even if they are not experts in the field. Remodeling a home can also be a valuable learning experience: her personal experience of learning new construction skills aligns with the idea that compliance professionals can learn and lead the E component of ESG. KEY QUOTE:  "I think that the more that we see diversity on boards, the better companies will do, but also the opportunities become more expansive and that's something that I'm passionate about and feel that's incredibly important. I also think compliance should have much more of a seat on boards." - Kristy Grant Hart Resources: Kristy Grant-Hart on Website | LinkedIn | YouTube   Kristy Grant-Hart books Spark Compliance

Tom’s guest in this episode of the ESG Report is Dan Frechtling of Boltive, a company that helps keep the Internet safe from invasive media and enforces data privacy. Data privacy and cybersecurity are ESG issues because they are significant drivers of business risk and a growing concern among investors and CEOs. The public costs of poor corporate cybersecurity management are increasingly viewed as market failures. Dan is the CEO of Boltive. His career began as a marketer, and he has spent years learning the power of marketing. Having experienced a significant event that changed his perspective about hyper-targeting and information sharing, he transitioned to cybersecurity where he learned about data privacy issues.  Here are some key points Dan and Tom talk about: Dan talks about his professional journey and background and his role at Boltive. Dan defines invasive media and describes the protection his company provides against it.  Dale explains how Boltive’s solution for invasive media protects the audience from malware, redirects, and other malicious behaviors, by replacing them with revenue-generating ads. Compliance with terms of service and user experience is key in order for these solutions to work, Dan tells Tom. In cybersecurity, the intermediaries and third parties are often creating noncompliant and bad user experiences. Boltive solves this by creating a synthetic user experience so each step is recorded and traceable to see what went wrong. Knowing and identifying if your inventory is sensitive and understanding the flow of data makes complying with ever-changing privacy regulations easier.  Dan explains why the digital ad ecosystem is so convoluted and the potentially harmful effects on customers. Dane highlights some of the compliance issues with online marketing.  GDPR is the gold standard when it comes to privacy and data protection, but state laws should also be followed when they are more stringent than GDPR. KEY QUOTE: “Invasive advertising can really be many different forms and we see our role to protect brands and publishers and technology platforms so those ads don't get inadvertently served, because the world of programmatic advertising is very lawless and algorithm-driven.” - Dan Frechtling Resources  Dan Frechtling LinkedIn | Twitter  Boltive

In this episode of the ESG Report, Tom Fox discusses the regulatory movement towards mandatory climate disclosure requirements. Guest Jared Connors explains why product liability, previously viewed as a negative for sustainability, is now viewed as a positive. Jared Connors is on the regulatory team at Assent. In his role, he supports and analyzes the market, engages standards and framework makers and regulatory agencies to help understand what companies will face and how they can comply. Jared says that product compliance depends on how certain jurisdictions approach sustainability.  Consumers make an impact on upstream corporation supply and demand, and that impact is shown via downstream companies who produce the products. Companies have to do a better job at being proactive about knowing their supply chain and the stance of the suppliers that they work with. Organizations need to be able to show that their suppliers have no connection to modern-day slavery.  Jared stresses the point of transparency as opposed to sustainability. When companies, suppliers, and stakeholders are transparent, business becomes more ethical.  Resources Jared Connors on LinkedIn Assent

On this special edition of the ESG Report, I repost a recent webinar hosted by Assent. In this webinar, top Assent SMEs looked back at key ESG, supply chain and sustainability topics from 2022 and into 2023. Speakers included Cally Edgren, Director, Regulatory & Sustainability Experts; Dr. Bruce Jarnot, Regulatory & Sustainability Expert, Product Sustainability; Jared Connors, Regulatory & Sustainability Expert, ESG & Responsible Sourcing and Travis Miller, General Counsel. Topics covered include:  Events in 2022 that impacted supply chain sustainability and global product market access; What Assent’s regulatory experts see on the horizon for 2023 and beyond; Steps manufacturers must take to protect their market access in 2023; and Developing programs to address increasingly complex supply chain sustainability requirements. Resources: For more on Assent, click here. For the full webinar click here.

Tom Fox welcomes Mandi McReynolds to this episode of the ESG Report. Mandi is the Head of Global Environment, Social and Governance at Workiva, a company whose ESG program allows them to communicate with internal and external stakeholders. In this conversation, she and Tom talk about Workiva's role in ESG compliance. The Backbone of ESG Internal controls are the backbone of ESG, so including them in your framework will make your ESG program run more efficiently. This takes the collaborative effort of your compliance, finance and sustainability teams. In order to meet the needs of investors and stakeholders, these teams must collaborate and agree on the systems and processes they should use. The Business Process Risks can be managed more effectively with an ESG program that is well-implemented. It is important to understand this when thinking about the business process of ESG. "[However], you can't be so ESG-woke that you take your company broke," Mandi cautions Tom. You need to strike a balance between making sure that your company is operating and behaving ethically, and also delivering on its promises to its stakeholders. Investors need to see how you're keeping your promises and commitments through transparent reporting, so you can demonstrate your commitment. These are all part and parcel of the business process of ESG.  Looking Ahead Tom asks Mandi what technological components of ESG will be more prevalent in the future. "We're going to see more advancements in scenario planning," she says. Companies are going to be thinking about tools and simulations they can use with data to shape their future direction. In the coming years, these tools will only continue to advance, and they're going to be crucial in making sure companies live up to the standards they have established for themselves. "In order for companies to deliver on their commitments, they have to start telling consumers and stakeholders about where they are, where they've been, and where they're going. In order to do that, I think we're going to see incredible advances in technology in a very short amount of time," Mandi remarks.  Resources Mandi McReynolds | LinkedIn  Workiva

The ESG Report podcast is hosted by Tom Fox. Looking for innovative solutions to tackle climate change? Look no further than the ESG Report! In this episode, Tom speaks with Shireen Muhiudeen, a fund manager who believes sustainability is a good business investment. Shireen Muhiudeen is a well-established fund manager with over 30 years of experience in the equities and private equity domains in Southeast Asia and has been the leader of a firm for two decades. From her extensive background, Shireen Muhiudeen has formed the perspective that ESG (Environmental, Social, and Governance) factors and sustainability are integral considerations for any fund manager. She underscores the significance of companies being both socially responsible and environmentally conscious, advocating for a long-term approach that takes into account the impact on communities and the environment. Following the COVID-19 pandemic, she acknowledges the challenges businesses face when resources are scarce and survival becomes a priority over sustainability. Despite these challenges, she emphasizes the need for awareness, adaptability, and a balanced approach to addressing risk, demonstrating her belief in the importance of sustainable practices for long-term success. Key Highlights: Cost-Effective ESG Implementation Strategies Fair Treatment of Migrant Labor in Business Future-Focused Investing: ESG Integration and Responsibility Digital Age Stakeholder Engagement Landscape Resources: Shireen Muhiudeen on LinkedIn Corston-Smith Investments We Are All Stakeholders   Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.

Tom Fox welcomes Sarah Dadush and David Snyder to this episode of the ESG Report. They are both law professors with backgrounds in human rights. In this conversation, they join Tom Fox to talk about the role of contracting in ESG. Robust Supplier Codes of Conduct Tom asks what steps are being taken to build more robust contract clauses. David explains that the process is still fairly in its initial state. Business lawyers have only recently adopted policies against forced labor and child labor. Lawyers are advising their clients to sign on to these policies, which is only one of the first few steps. Getting them implemented, however, is the true challenge. "The policies sit there in the corporate minutes, and unless they're in the contracts, they're not going to be implemented," David says. These policies need to be in operation.  "To get them implemented, to get them operationalized, they need to be in the contracts." Human Rights, Model Clauses & ESG "Part of the history of ESG is focusing on equipping consumers to make choices that are more and more aligned with their values," Sarah tells Tom. This has expanded to include not only consumers but investors, thus bringing in more money and leverage to influence corporate behavior. The S in ESG comes into play with model clauses because it looks at human rights and employee rights. "Our focus within the model contract laws is on worker protection," Sarah remarks. "We tend to think often of things like child labor, trafficked labor, forced labor in various shades. What we are including or addressing specifically in the model contract laws is worker conditions." Model Clauses & Regulatory Obligations  Tom asks if model clauses can help companies meet their regulatory requirements. With model contract clauses in place, human rights due diligence are going to be more effective, David and Sarah agree. "They show the regulators that you are serious about doing something about this," David remarks. However, model contracts need to be put into place. If they are signed but not acted upon, all you have is paper. "Once you've agreed to this human rights due diligence or a due diligence regime, and then we also have clauses about sharing information and generating documentation, then you are going to be able to document what you have done," David adds.  Sharing information will result in communication and documentation of what's going on at the company.  Resources Sarah Dadush | LinkedIn  David Snyder | LinkedIn

Tom Fox welcomes Page Motes to this episode of the ESG Report. Page is the Head of Global Sustainability at Dell Technologies. In this conversation, Page and Tom talk about sustainability, how Dell oversees it, and where sustainability may go in the future. The Role of Sustainability  Tom asks Page to elaborate on what role sustainability plays at Dell. "The way we define the sustainability role and purview at our company is around all things environmental and then an aspect of social, really the human rights piece," Page says. Human capital management, diversity, equity, and inclusion are also part of how Dell defines sustainability.  Moving from Compliance to Sustainability and ESG  There are skills that compliance professionals have that individuals in the field of sustainability can develop. Page specifically points to the ability to understand ambiguity, especially when dealing with the ethics side of ESG and sustainability. On the ethics side, there are more gray areas, so you have to have a set form of values and morals to help you navigate them. In sustainability, not everything is regulated, so you have to understand what works. "You're working on a global scale. You're having to understand all aspects of the company and the business. You have to understand the balance between what the business needs for business acceleration and growth," Page stresses.  Sustainability of The Future Tom asks Page where she sees sustainability going in the corporate world. Page expresses that companies, as well as Dell, are thinking about how the solutions they offer their user and customer base can help them achieve their goals. "How can technology be used to create systems of change? How can we decarbonize our technology?" These are questions companies are thinking about intently. Currently, ESG and sustainability are more focused on structures and programs to meet regulatory requirements, but Page hopes that in the future, they will be more focused on innovation and collaboration.  Resources Page Motes | LinkedIn  Dell Technologies

Tom Fox welcomes Doug Hileman to this episode of the ESG Report. Doug is the founder of Doug Hileman Consultancy and part of the Volkswagen Monitor Team. In this conversation, he and Tom talk about his experience in the environmental and compliance industries, highlighting the increasing complexity of the environment and legal landscape. He also discusses how corporate compliance officers can play an important role in ensuring that companies are compliant with their environmental and safety obligations. The Evolution of Environmental Regulations  Tom asks Doug how the environmental field has changed over the years. "I would say that it's gotten a lot more complex," Doug responds. Regulation in the past was about cleaning up and disposing of waste, whereas now regulation is broader, covering areas such as product design, biodiversity, and the circular economy. In addition, stakeholders are now imposing requirements: they no longer want to do business with companies that don’t comply with US and global regulations.  The Compliance Professional in Corporate ESG ESG is a great opportunity for compliance professionals. Compliance obligations are now widespread in the business world, so compliance professionals must learn what the requirements are of any organization that they're working with. Once they learn the requirements, they can then take up a leadership role. "If they're not at the table the way they think they should be at the table, then just pull up a chair and sit down," Doug stresses. "Make your own case for why the compliance function has such an important role in ESG. It's not about marketing; it's compliance." The Board in Corporate ESG  The board needs to be involved in the company ESG program. It needs to be an 'all hands on deck' initiative. This will make the entire company operations more competent. Doug remarks on the importance of internal auditing and how it impacts ESG. The board’s focus should be on how to be in line with ESG practices and requirements, Doug tells Tom.  Resources Doug Hileman | LinkedIn  Doug Hileman Consultancy

Tom Fox welcomes Ted Dhillon to this episode of the ESG Report. Ted is the co-founder of FigBytes, an ESG insight platform that tracks raw data for environmental, social, and governance management. In this conversation, he and Tom talk about the ways FigBytes helps other companies do data analytics around ESG, the financial impact of ESG, and water stewardship.   FigBytes FigBytes as a platform tracks data for social, environmental and governance management. That raw data is then converted into impacts and metrics. The analyzed data is then implemented into different technological frameworks. "What we also do is we take the next step yet towards engagement," Ted tells Tom. FigBytes connects data with organizational strategy and changes the dynamic of how sustainability and ESG is looked at within a company. ESG as a Business Approach  "[ESG] is clearly a business process approach, and I also look at ESG as a reporting initiative as well," Ted tells Tom. ESG has moved the organizational sector into a phase of new sustainability that's more evolved. The metrics and numbers can be compared and contrasted across various different organizations. ESG is also driven by investment from the financial community. Investors will look at the things that are happening in the world, how it impacts companies, and make risk-based assessments on those factors.  Water Stewardship  Water is the next carbon, so Tom asks Ted how FigBytes is facilitating water stewardship. Water stewardship is about the responsible use of water, in a way that is equitable and beneficial to the communities you are drawing it from. Water is a resource with significant impact and a resource that overlaps with climate. You won't achieve climate sustainability without taking water into account. "Water has got a very regional and localized focus and therefore stewardship is critical because companies have direct and indirect impacts of water as well," Ted says.  Resources Ted Dhillon | LinkedIn  FigBytes

Fariyal Khanbabi is the CEO and chairman of Dialight Group, an LED industrial lighting technology company that services the maritime industry. Dialight's LED products provide lighting solutions that deliver reduced energy consumption and create a safer working environment. Fariyal joins Tom Fox to talk about her company’s product and services, as well as her thoughts on ESG.  What is Dialight? Tom asks Fariyal to tell listeners more about Dialight. Dialight is the global leader in sustainable LED lighting solutions for the industrial market, she responds. Wherever there's a harsh environment or a plant where some kind of heavy industrial work is going on, Dialight is there providing “the next generation of lighting solutions that deliver reduced energy consumption, and most importantly a safe working environment”. As a company in the 21st century, Dialight is focused on promoting and executing sustainable practices and solving the climate crisis, using technology. Environmental Protection Declaration Fariyal defines Environmental Protection Declaration (EPD) and how Dialight utilizes them. An EPD is a verified document that communicates transparent and comparable information about the life-cycle environmental impact of products. Approximately 2 years ago, Dialight began using an independent agency to issue EPDs on their products, which verifies the environmental impact of all their major product lines. They focus on the materials they use, and it helps them understand what they should use for the next generation of products. They have incorporated the use of EPDs into their sales program as it helps them get products made with recyclable and sustainable materials that are approved by a board of environmental experts. Workforce Sustainability  Tom asks how sustainability, environmental consciousness, and governance are incorporated into employee acquisition. Fariyal explains that statistically, the next generation of employees does not want to work for a company that does not have a social conscience or is not doing something to help the environment. Even though Dialight is the most sustainable lighting company on the market right now, they actively try to make their employees feel that way. They participate in various initiatives based on environmental and gender-based activities and actively try to encourage women to find their space in the industrial industry.  Resources: Fariyal Khanbabi | LinkedIn | Dialight

Jared Connors and Daniel Zamora join Tom Fox in this episode of the ESG Report to discuss how market expectations have evolved with regard to due diligence in the responsible sourcing field. Due diligence used to be a data collection exercise where you get transparency into your supply chain, but now it's all about what you do with that information after you collect data. It's about how a company can move from being reactive to being proactive and going beyond regulatory requirements. It means risk management activities related to identifying sanctions within your supply chain. The first step to becoming proactive with your data due diligence is collecting data more efficiently. This allows you to have the resources in place to perform risk management within your supply chain. "You need to have a specific program in place that would allow you to see and identify the risks so you can see where minerals are coming from and where the minerals are going afterwards," Daniel says. Under the Biden administration, there has been a major focus on critical minerals when it comes to sanctions and regulations. Critical minerals are not specifically tied to the Dodd-Frank Act, but this focus has emphasized to all stakeholders in the industry to be vigilant about them in general. All stakeholders - downstream companies, shareholders, suppliers, customers, and employees - are engaging in discussions and conversations around the ESG requirements for critical minerals. Having an entity in your supply chain that is tied to a sanction puts you at risk, no matter how direct or indirect that linkage is.  Resources Jared Connors on LinkedIn Daniel Zamora on LinkedIn Tom Fox’s email Assent

In this episode of the ESG Report,Tom Fox is joined by Devin O’Herron and Jared Connors of Assent to discuss Scope 3 emissions reporting as the key to disclosure success. They talk about the importance of accounting for Scope 3 in your emissions strategy. There are three scope levels within the emissions reporting strategy: Scope 1 refers to things like your vehicle or things you’re doing around your facility; Scope 2 is the purchased heat or electricity powering your facility; and Scope 3 is all those variables outside your four walls. The most important aspect of Scope 3 is purchased goods. This has a large impact on organizations that may not necessarily take in raw materials and directly manufacture those raw materials into a finished good. "Even if your organization designs products and influences those products, you typically will obtain your raw materials components through your supply chain," Jared says. The supply chain is a very significant factor to consider when coming up with the emissions strategy as a company. A recent study found that Scope 3 emissions are typically 11 times larger than an organization's Scope 1 and 2 emissions combined. As mandatory climate disclosure legislation progresses into the future, the overall emissions strategy needs to start accounting for Scope 3 as much as possible. "When it comes to Scope 3 emissions in particular, as we think about things like carbon taxes, risk in terms of risk, if you don’t understand what exactly that applies to your organization, you are missing a big opportunity," Devin stresses. Organizations need to get a handle on their total emissions footprint. You cannot manage what you do not measure.  Resources Devin O’Herron on LinkedIn Jared Connors | LinkedIn Tom Fox’s email Assent website

In this episode of the ESG Report, Cally Edgren and Devin O’Herron of Assent join Tom Fox to discuss product compliance and sustainability. They explore how the two worlds are starting to intersect.  Making sure products meet regulatory requirements is what product compliance is all about. In recent years, the requirements have been changing. There used to be a focus on safety features like mechanical and electrical safety, but things changed with the RoHS Directive in 2002. That directive was meant to make sure electronic waste from third-world countries was safe. "The RoHS directive and the EU Ecodesign Directive require compliance, or you cannot sell in locations where they are effective," Cally remarks. It was one of the first times a regulatory rule had more to do with sustainability than traditional product safety.  Manufacturers need to understand that their customers are no longer just concerned with what they hold in their hands at the end of the process - they want to make sure that their suppliers are using responsible processes. The two worlds of operations compliance and product compliance are starting to connect. "What I am seeing and what I have experienced is we are starting to merge the environmental into the more traditional product safety," Cally says.  As we become increasingly aware of the importance and relevance of the social and environmental costs associated with manufacturing processes and the barrier they present towards sustainability, ESG metrics represent another way of managing and measuring these externalities.  Resources Cally Edgren on LinkedIn Devin O’Herron on LinkedIn Tom Fox’s email Assent website

Tom Fox welcomes Travis Miller and Jamie Wallisch to the ESG Report. In this episode, they talk about the Uyghur Forced Labor Prevention Act (UFLPA), and how it impacts the way companies do business across the supply chain. The UFLPA is a United States federal law that stops companies from importing products made with forced labor in the Xinjiang region of China or any other part of China with forced labor by workers or other minorities. This law is important because it makes sure that companies are aware of what is happening and take steps to stop it. The UFLPA makes companies use processes that already exist in their business. To follow the UFLPA, your company would need to have a compliance program in place. Jamie also explains how regulators could assess companies' compliance programs using the UFLPA.  Organizations need to recognize their organizational footprint because each company out there affects more than just the people who work there. It's not just about who you choose to do business with but also who you choose to profit from. You can't just condemn bad business practices verbally. You have to be actively engaged in ethical behavior. "It’s this assessment, it’s this realization that you are the sum of your components. You are the sum of your relationships," Travis adds.  Resources Travis Miller | LinkedIn  Jamie Wallisch | LinkedIn  Assent

James Calder and Jared Connors of Assent are today’s guests on this premier episode of the 5-part series, Supply Chain and ESG - What You Need to Know. In this brief conversation, they chat with Tom Fox about how ESG impacts a company's performance presently and in the future. Before the pandemic, many companies were very dependent on global supply chains. Post-pandemic, however, companies need to focus on environmental resilience. This means that they need to be careful about where they get their supplies from because there is a risk of disruption. It is risky now to source from regions that do not abide by the appropriate environmental controls or expectations on human rights, all of which can lead to a supply chain disruption. Additionally, companies that can't demonstrate that their products don't violate human rights are at a disadvantage. Without evidence that they are adhering to labor laws, they could lose business to their competitors, Jared tells Tom.  ESG offers companies the opportunity to determine with data if there are operational inefficiencies. If there are inefficiencies, business solutions can be brought to help make companies actually run more efficiently from the data collation required for an ESG program. This in turn saves companies money. "When you think about that in the context of labor… if you're helping the well-being of these organizations or these individuals out there working in these organizations, oftentimes you see a lot more efficiency and better quality in their work," Jared says.  Resources James Calder | LinkedIn  Jared Connors | LinkedIn Assent

The ESG Report podcast is hosted by Tom Fox. Looking for innovative solutions to tackle climate change? Look no further than The ESG Report! In this episode, Tom speaks with Pamela Fierst-Walsh, who talks about her career in sustainable minerals and how it has led her to EV batteries. Pamela Fierst-Walsh is a seasoned professional with a rich background in managing environmental and economic challenges in worldwide supply chains. With over 17 years of experience as a US diplomat and a law degree from Indiana University Mauer School of Law, Fierst-Walsh brings a unique perspective to the table. She believes that the transition to electric vehicles is crucial for addressing climate change and reducing greenhouse gas emissions. She emphasizes the importance of diversifying energy sources, reducing reliance on oil and natural gas, and the need for regulatory measures such as digital product passports and due diligence on supply chains to ensure sustainability. Join Tom Fox and Pamela Fierst-Walsh as they delve deeper into these issues on the next episode of The ESG Report. Key Highlights: Sustainable Transportation: Driving Consumer Demand Minerals Market Dominance in EV Batteries Circular Economy Initiatives in the EU Sustainable Battery Information Sharing for EU Securing Reliable Supply Chains for National Security Resources: Pamela Fierst-Walsh on LinkedIn  Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn

Tom Fox welcomes Keith Deinert to this episode of the ESG Report. Keith is the Global Program Manager at Jabil, a company that provides product design, manufacturing, and logistics to customers, as well as reverse supply chain strategies. In this brief conversation, they talk about scope three emissions, define the circular economy, and discuss how these topics all relate to ESG.   Scope Three Emissions  Tom asks Keith to start off by defining scope three emissions. "It's probably easier to say what they're not than what they are," Keith quips. He begins by defining scope one and two emissions: scope one being the emissions that we emit ourselves, such as greenhouse gasses, and scope two being the actual energy we consume. Scope three is everything else. "[They're] tied to the emissions from the commodities and the materials that we bring in to make the products," Keith tells Tom. Scope three is the use of the product and the transportation involved, and its final disposition.  The Circular Economy  The Circular Economy sits on top and is the governing principle that drives a lot of sustainability initiatives. "It's designing eco-friendly products in the beginning, it's maximizing their useful life at their highest values…and then to regenerate natural systems," Keith explains. In a circular economy, you're building a product so that it can be reused. By doing so, you don't have to extract as much material from the earth to create new products, and you're actually avoiding driving up emissions in the ecosystem. Keith adds that companies are now adopting this mindset because their customers are more eco-conscious. "It's not just something that's a feel-good service anymore. Companies are looking at this proactively," he stresses.  Business Driven Approach Tom asks Keith if he's seen a business-driven approach to both ESG and the circular economy and to elaborate. "It starts with the customer," Keith begins. Consumers are more aware of which companies are trying to do the right thing when it comes to being environmentally conscious. Companies that want to create products or devices then come to Jabil as their manufacturers for help in making greener products. "What companies that we engage with are really good at is understanding the marketplace and their consumers," Keith explains. "And they're relying on us to be the experts on how to deliver these goals and these objectives into a manufactured product that meets that consumer's [need]," he adds. When the customer demands more eco-friendly products, it drives the businesses to comply in order to be vendors of their desired consumer targets. This, in turn, drives business profit, and companies are taking notice. Keith cautions that while this approach is currently optional,  it will become mandatory just to be in the business game.  Resources Keith Deinert | LinkedIn  Jabil

In this brief solo episode, Tom Fox is reflecting on the impact the Russian Invasion had on ESG. He talks about how the invasion changed the way businesses viewed their ESG programs, the importance of ESG in business and national security, and what it means for businesses to be purpose-driven.  ESG is Business Change ESG is not driven by a specific political ideology or political group. What drives ESG is the business world. "What the Russian invasion of Ukraine drove home was the need for a more holistic approach to corporate ESG, which integrates each one of those letters into the fully formed ESG," Tom says. ESG also is key in national security interest. "The transparency required by ESG programs through government required disclosure, or private sector required disclosure also ties into other areas of business change," he adds.  Reputational Risk The Russian invasion caused a major disruption in the global supply chain and created higher reputational risk for companies. Some companies were hit with sanctions, and customers boycotted others. "Hits to reputational damage are above-the-line costs meaning they eat directly into sales revenue and overall business success," Tom remarks. If consumers view your organization as supportive of oppressive and autocratic regimes, or your goods as created by slave labor, they will not want to do business with you. "The risk is simply too high. Consumers want to purchase and transact with purpose-driven businesses," Tom adds.  Be Purpose Driven "People are demanding that a company align with their values and align with their ethics," Tom iterates. An organization must fully incorporate ESG into an effective business strategy. "You have to look at ESG proactively and react to situations based upon the turmoil that is ongoing literally across the globe," Tom stresses. ESG is now seen as a 'must have' in businesses across the US and Western Europe, and companies need to understand that these requirements are not driven by regulators. To unlock capital and cash, and to grow your business, you have to have an effective and transparent ESG program so that people will want to invest in you and do business with you.  Resources Tom Fox email

Tom Fox welcomes Alexandra Poe, Andrew Fowler, and Bryan Sillaman of Hughes Hubbard & Reed (HHR) to part two of this series of the ESG Report. Hughes Hubbard & Reed released their newest ESG guide with practical guidance about the most common issues in establishing an ESG program. It also gives companies resources to help them comply with the evolving ESG expectations of regulators and investors. Key ESG Topics In the Resource Guide Tom asks Andrew and Alexandra to highlight the key ESG topics seen in the corporate sector that are covered in the resource guide. Alexandra says that before companies tackle any technical compliance concerns they must first understand that “[technical compliance] is a topic that involves governance strategy and mission and culture questions”. This chapter of the resource guide urges corporations to focus on the current trends.  Andrew explains that there are many evolving ESG topics in this new social and political climate, so it may be difficult to choose umbrella topics for the corporate sector. However, he explains that most topics can fall into the category of risk assessment. Stakeholders and investors always need to ensure they’re investing in a safe business, so risk and mitigation planning is always a main issue.  The Regulatory Environment Tom asks Bryan how he assesses the regulatory landscape. Bryan says that the regulatory environment is constantly and rapidly evolving and it varies from region to region. The EU is more advanced than the US when it comes to regulatory efforts: they have several laws in place to limit greenwashing and identify environmentally friendly activities and sustainable economic activities. However, with the SEC rules in the final stages of being implemented, the US is on pace to become an ESG-friendly landscape.  ESG From An Investor’s Perspective Tom asks Alexandra to discuss how ESG is viewed by funds and investment advisors. Alexandra explains that ESG is viewed as an expensive commodity within the US. ESG regulations are better implemented by the private sector. The private sector is more likely to urge itself and government-based companies to make better disclosures and examine their practices better. She points out that companies always follow through with the ESG regulatory efforts they implement because it boosts their public image and aligns with their mission statement.  Resources Alexandra Poe | LinkedIn  Andrew F. Fowler | LinkedIn Bryan Sillaman | LinkedIn  Hughes Hubbard & Reed | How to ESG: A Resource Guide for Establishing an ESG Program for your Company

Tom Fox welcomes Alexandra Poe, Andrew Fowler, and Bryan Sillaman of Hughes Hubbard & Reed (HHR) to the ESG Report! Hughes Hubbard & Reed released their newest ESG guide with practical guidance about the most common issues in establishing an ESG program. It also gives companies resources to help them comply with the evolving ESG expectations of regulators and investors. The ESG Resource Guide Tom asks Alexandra to explain the genesis of the ESG Resource Guide. Andrew’s previous work with renewable energy projects paved the way, she responds. It firstly led to launching the ESG practice at HHR. Eventually, they recognized the need for a guide that helps companies “unpack and understand quickly the aim of bringing ESG into their company and creating a program”. The ESG Resource Guide is the result. The guide begins by defining ESG terminology and available resources to ensure that companies understand the importance of having an ESG program. The next chapter helps companies “orient themselves to the breadth of this endeavor, about all the different types of folks who likely would … contribute to the genesis of your ESG program,” Alexandra says. ESG regulations from various jurisdictions and other hot topics like diversity, equity, climate change, and inclusion are also explored.  ESG Means Different Things to Different People Bryan explains that ESG is a broad topic that means different things to different companies within different industries. You have to determine what is most relevant for your particular company, which is based on “your sector, your industry, and your geographic footprint”. This is why the team at HHR gathered data from multiple stakeholders. This process helped them to determine which ESG topics were most relevant to the various companies and organizations.  ESG and Funding Tom asks Andrew to describe some critical issues they have identified for private equity lenders and financial institutions seeking capital investments. Andrew replies that they should ensure that they aren't falling behind in their field while still acknowledging the new regulatory environment regulations. As a company you have to ensure that your investors feel like they're not investing in a lost cause – that there is evidence and data to show why they should invest in your ESG program.  Resources Alexandra Poe | LinkedIn  Andrew F. Fowler | LinkedIn Bryan Sillaman | LinkedIn  Hughes Hubbard & Reed | How to ESG: A Resource Guide for Establishing an ESG Program for your Company 

Tommy Linstroth is the founder and CEO of Green Badger, a SaaS company providing easy-to-use, collaborative cloud-based solutions to streamline and automate sustainability in the green building construction market. Tommy is a leader and pioneer in the ESG space, and in this week’s episode, he and Tom Fox explore ESG in the green construction market. Green Construction Within ESG Tom asks Tommy how green construction fits into an overall ESG conversation. Tommy acknowledges that ESG is becoming more popular at the organizational, corporate and portfolio levels. Green building is part and parcel of the general ESG framework; companies are increasingly considering sustainability in the process of construction instead of only when the building is complete. Tom comments that this idea could expand from just a building to a community or gated subdivision. Tommy agrees and explains that if a developer is looking at multi-family developments, they should look at the collective impact that those have on not just the environment but the social and governmental aspects, as well.  The Origins of Green Badger Green Badger was founded to solve the challenges Tommy faced managing green construction as a consultant. He would have to manage and track data from multiple projects, in different phases of construction. This was time-consuming, and he figured there had to be a way to automate the process to make it easier. With the extra time, they could make building projects greener, and finish them on time and within budget. Thus, the idea for Green Badger was born.  Green Certification Tom asks Tommy to explain what is green certification. For buildings, there's the primary or gold standard called LEED (Leadership in Energy and Environmental Design) certification, which is a third-party certification that is administered by the United States Green Building Control. It is used to verify the sustainability aspects of a building. About 95% of companies require it on their facilities moving forward and is used on almost everything that is publicly funded.  ESG Metrics Tom asks Tommy about common ESG metrics in the construction phase. Tommy says that the most common metric is energy consumption; for example, fuel used on-site for equipment. You have to take into account all the direct and indirect emissions being produced, such as the carbon emissions produced while traveling to and from the job site. Measuring construction waste and water consumption is also a standard ESG metric. These metrics tend to focus more on the environmental and social aspects of ESG, rather than the governance side, he points out.  Looking Ahead Tommy believes that there will be increased ESG requirements in new residential or commercial construction in 2025. He compares it to a running faucet: “Right now how we see the faucets on, and it’s just a trickle. Those financial owner-driven regulations – they're slowly lifting that lever where the drop is going to turn into a trickle, and then it's going to turn into a blast.” In the 80s and 90s safety regulations were not that prevalent, but these days they are ingrained into the culture of every work site. “ESG will become baked in as a standard operating procedure”.  Resources Tommy Linstroth | LinkedIn | Twitter | Instagram   Green Badger | Website | LinkedIn | Twitter  

Tom Fox welcomes Will Robinson to the ESG Report. Will, a former investment banker, now serves as the CEO at Encapture, a 20-year-old document management services company that pivoted into a SaaS product company in 2019. In this week’s episode, he and Tom talk about how Encapture helps its clients comply in the changing world of ESG.  Intelligent Document Processing Encapture is a software company with a unique process called “intelligent document processing”. Will explains that this process makes it easy for organizations of varying sizes to collect incoming documents as a part of a business process. “Encapture’s machine learning can read the document and discern what type of document it is, then the system can extract data out of these documents and utilize the data for a variety of purposes,” he says. It can transfer data to another system as well as compare data across multiple documents. “We can automate a bunch of reporting on the compliance front,” he adds.  ESG: An Incremental Change Banks are more reactive instead of proactive when it comes to ESG, Will tells Tom. Most of the ESG changes being implemented are incremental; using a proven process and appropriate technology like Encapture, complying with new regulations can be a seamless process which can often happen within a few days. This directly benefits compliance leaders who need a dynamic platform that evolves with the ever-changing real world, Will points out. Tom comments that banks usually already have the information they need to comply, but it’s siloed. Encapture is  “a very powerful tool” that can help them utilize the information to respond more nimbly and a lot more quickly. “We feel like everybody is better served if we can solve this compliance issue and solve it efficiently,” Will remarks.  Resources Will Robinson | LinkedIn | Encapture

Todd Boehler has over 25 years experience in the governance risk and compliance software space. He is currently Senior Vice President of Strategy at ProcessUnity, where he oversees third-party risk management. ProcessUnity is a company that is making good governance, risk, and compliance (GRC) practices and tools available to organizations via cloud-based, third-party risk and cybersecurity program management tools. Tom Fox welcomes Todd to this week’s episode of the ESG Report to discuss the relationship between third-party risk management and ESG.  The Biggest Risk  “In my opinion, third-party risk management has been the biggest risk in anti-corruption compliance,” Tom says. It’s something everyone in the company - up to the board level - has to be more consistent with. Todd agrees; it’s becoming more complex as time goes on, he adds. More businesses are outsourcing in order to compete. This brings accelerated risk. “You have to know where the risk lies inside of those [third-party] companies, otherwise you're going to be accountable for that to your customers and your regulators and your examiners,” Todd points out. Evolving Risk Todd runs ProcessUnity’s Partners and Alliances program and its product teams. His role involves growing the company ecosystem and investing in technology to help their clients manage risk and solve their problems more efficiently. “ESG has been an evolving risk area,” Todd tells Tom. “We help companies monitor and manage their third-party [risk] specifically, across all different areas of risk [including ESG risk].” ESG is a social mandate nowadays, he continues; more companies and regulators are acknowledging its importance. “We integrate and connect ESG data providers into our customer's risk programs so that they can cover and understand ESG risk against their third parties,” he points out. Monitoring Third-Party Risk Tom asks Todd whether potential clients fully understand the need to monitor ESG risk and how ProcessUnity allows them to manage that risk. It depends on the maturity of the company, Todd responds. “Smaller companies that are highly regulated may be more mature than larger companies that are not so highly regulated,” he points out. It also depends on the stage they are in their roadmap, as well as how much they prioritize ESG risk against other types of risk. Financial Resiliency  Tom comments on the importance of financial resiliency of your third-party partners. If a company is not doing well financially, they may be unable to supply your products. They are more vulnerable to cyber attack because they may not be able to invest in cybersecurity, and they may be more easily persuaded to engage in bribery and corruption. Financial resiliency is a must, Todd says. Your company needs it, and your suppliers must also have it. The Rise of ESG ProcessUnity recently released a white paper, The Rise of ESG in Third-Party Risk Management. Tom asks, “What do you see as some of the key factors contributing to the relevancy of ESG on a worldwide basis?” He and Todd talk about the global push towards ESG and the corporate world’s response. A cultural shift coupled with new regulation is bringing ESG to the fore. Proper documentation of our ESG program will help you make better business decisions as well, both men agree. Your business will become more efficient and robust as well. Looking Ahead Tom asks Todd where he sees third-party risk management in ESG in 2025 and beyond. Risk professionals are thinking about and prioritizing ESG risk more, they agree. Todd adds that ESG risk attention will increase because there will be more data and more regulations. Additionally, there will be more people taking over executive positions who wish to implement ESG cultures and regulations in businesses that require ESG risk management.  Resources  Todd Boehler | LinkedIn | ProcessUnity  The Rise of ESG in Third-Party Risk Management

Tom Fox welcomes renowned compliance leader, Ty Francis, to the ESG Report! Ty is the Chief Advisory Officer at LRN; he leads the company’s worldwide ethics and compliance consulting, ESG, and community outreach strategy. In this week’s episode, Ty and Tom discuss LRN’s new report, Assessing Corporate Culture, and how it relates to ESG.  The Genesis of the Assessing Corporate Culture Report Tom asks Ty about the genesis of the LRN report. This is the second report LRN produced; the first one was about activating culture and ethics in the boardroom. Their previous research led the team at LRN to realize that most corporate boards did not understand culture. Ty says, “Over the last 10 years culture is so high on those lists, but when you look further into the survey and ask them what they’ve done to measure this culture, it's nonexistent.” Therefore, LRN sought to discover the general opinion on culture and ethics compliance and provide a roadmap on how to activate these skills within a company.  Roadmap for Building Corporate Culture Tom highlights how the report can be used as a roadmap to build culture. Ty says that building corporate culture starts with defining ethical culture. Ethical culture is the codification of what an organization stands for and the systems that support those beliefs; the core architecture should be reinforced by leadership in how they model desired behavior. The second step in building culture is getting to know the most valuable members within your company, in each department. Culture is extremely important for building relationships within a company and allowing people to hear opinions from all sides.  The Relationship Between ESG and Corporate Culture The culture within a corporate setting has always been an ESG issue. The governance aspect of ESG is directly related to culture as it is something that companies should have been implementing for years. Ty remarks, “It shows the company’s values across the board, and I think when you have a mismatch of what the company says it’s doing and what they are really doing, that can fragment any ability for a company to demonstrate that it is really a forward-thinking, future-expanding company.” The governance is to be upheld by the board, stewards, stakeholders, and managers. He lists five key considerations for boards:  prioritizing culture on the board agenda,  challenging the board’s culture,  mentoring and monitoring,  articulating the desired culture, and  establishing clear communication. Looking Ahead Acknowledging the new legal and regulatory requirements, public pressure and the evolution of thinking surrounding corporate culture, Tom asks Ty if he believes that boards will maintain the corporate culture into 2025 and beyond. Ty believes these pressures will force boards to manage and maintain the corporate culture.  Resources Ty Francis | LinkedIn | Twitter LRN | LRN Report - Assessing Corporate Culture | LinkedIn | Twitter | LRN Report - Benchmark of Ethical Culture |

Tom Fox welcomes Raj Arora to the ESG Report. Raj is the CEO of Jensen Hughes, deemed the global leader in safety, security, risk-based engineering, technology, and consulting. It is primarily known for its innovative work in fire protection and engineering. In this week’s show, Raj and Tom discuss the firm, his professional background, and how it relates to ESG. Risk-Based Engineering Tom asks Raj to define risk-based engineering. “Risk-based engineering and consulting are all the facets of trying to assess the risk, to ensure that the probabilities and the consequences are limited for our clients,” Raj responds. They help clients prepare for emergencies, mitigate losses and respond and recover from those accidents quickly. They assess emergency management situations through risk frameworks and use the popular method of probabilistic risk assessment.  Principles + Purpose with Jensen Hughes Tom asks Raj to explain how Jensen Hughes put their Principle + Purpose strategy into practice. “Our purpose is to make our world safe, secure, and resilient,” Raj remarks, “and we have principles that we lead the company by and live by every day and that is our clients, our industry, and our performance.” A successful business needs to have a purpose and a drive for what you’re doing and who you’re doing it for. Your main priority should be being “good partners and understanding your clients objective.” You must also be performance-oriented and focused on business growth “which helps advance the purpose of the firm.”  ESG and the Engineering Industry Tom asks Raj what role an engineering firm like Jensen Hughes plays in ESG. He responds that Jensen Hughes believes that they must help achieve their ESG goals, as their mission is “making the world safe, secure, and resilient”. Most engineering firms are all about focusing on the environmental aspect of ESG, by reducing their carbon footprint, decarbonization, and environmental stewardship. Jensen Hughes also helps their clients follow ESG regulations by “helping manage wildfires, risk-based engineering, new energy storage solutions and safely advancing carbon-free energy.”  Resources  Raj Arora | LinkedIn | Twitter  Jensen Hughes | Website | LinkedIn 

Tom Fox welcomes Tim Springer to the ESG Report. Tim is CEO and founder of Level Access, a digital accessibility company that provides technology accessibility compliance solutions for corporations, government agencies, and leading educational institutions. In this week’s show, he and Tom discuss the role digital accessibility plays in ESG. Level Access's Niche in the Market Tom asks Tim what led him to found Level Access. Tim explains that he and his colleagues first created a website to make finding wheelchair-accessible museums in Europe easy and convenient, but that idea was not successful. They did find that digital accessibility was a fruitful idea so they decided to make all websites user accessible. Level Access was born from this. It evolved into digital accessibility and enforcement. What is Digital Accessibility? Tom asks Tim to define digital accessibility. Digital accessibility refers to how usable all possible users - regardless of their ability or disability - find a website, app, or other digital experience. Tim explains, "When you build a digital asset there are rules that you can follow to ensure that it's usable to people with disabilities, and if you don't follow those rules it will not be usable to people with disabilities, and you will often face legal liability associated with that." He adds that this is a lucrative field because, in recent years, ESG evangelists have been promoting inclusivity and equity. “Organizations would want to be seen implementing accessibility because it allows them to tell a good equity story,” he points out. The Relationship Between ESG and Digital Accessibility  Tom asks Tim how he sees digital accessibility as it relates to ESG. Tim replies that a major component of ESG is diversity and inclusion, and the public is demanding companies to answer these questions: ‘Do you have a diverse population?’ and ‘Are you providing equivalent access for everyone in your organization?’ This is where the social aspect of ESG plays in. Additionally, due to a recent executive order from the Biden administration, accessibility will be added to the ESG trifecta of diversity, equity, and inclusion.  Looking Ahead Tom asks Tim where he sees digital accessibility in 2025 from the corporate perspective. Digital accessibility will move beyond simply a regulatory response to a more far-reaching answer. Tim expects that by 2025, digital accessibility will be one of the three core digital governance activities that organizations follow – digital security, digital privacy, and digital accessibility. Resources Tim Springer | LinkedIn | Twitter Level Access

The ESG Report podcast is hosted by Tom Fox. Looking for innovative solutions to tackle climate change? Look no further than The ESG Report! In this episode, Tom speaks with Christian Harris from Slip Safety Services on Safety as The ‘S’ in ESG Christian Harris is a seasoned safety professional with over a decade of experience, specializing in slip and fall prevention. His passion for safety was sparked by a personal incident, leading him to advocate for the integration of safety measures in business operations. Harris believes that safety should not be viewed merely as a means to prevent accidents but as an enabler of culture, high performance, and profit. He coined the term "safety-nomics" to highlight the positive impact of safety on business performance and uses the success story of Alcoa to illustrate the correlation between a strong safety culture and improved business outcomes. Join Tom Fox and Christian Harris on this episode of the ESG Report as they delve deeper into the importance of integrating safety measures into business operations. Key Highlights: Safety Shifts and Compliance in Energy The Transformative Power of Safety Integration The Significance of Safety in Business Performance Identifying Slip and Fall Factors in Consumer Businesses The Importance of Proactive Safety Culture Resources: Christian Harris on LinkedIn  Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn

Bill David is the founder and Portfolio Manager of Stance Capital. This company mitigates material ESG risks, produces excess returns, and is dedicated to ensuring that public equity portfolios can align with capital and personal values, without sacrificing performance. Tom Fox welcomes him to this week’s show to talk about Stance Capital, how it helps its clients, and greenwashing.  Greenwashing Tom asks Bill to define greenwashing and explain why it is a major problem in ESG. According to Bill, greenwashing is when companies make promises to preserve the environment which are not actually true. Greenwashing is “a marketing claim that does not back up reality,” he tells Tom. It’s an important issue in ESG because we expect companies to be socially responsible. “There is an ethical partnership that goes beyond the basic contract and when it isn't done it adds a level of frustration,” Bill remarks. Tom comments that he started to seriously think about the environmental aspect of ESG when he looked at his children and thought about what kind of world they were inheriting. He talks about the importance of sustainability and the “very real threat posed by climate risk”, and urges major companies to act quickly to reverse the effects of climate change.  Chasing Shiny Objects Bill believes that the surge in greenwashing today stems from the large number of companies who want to brand themselves as environmentally friendly without adequate preparation. He says, “I think it's really just chasing shiny objects; I think lots of firms rush to the market with a product because they see that it is in demand – however, they don't understand the product.” However, there is an even more dangerous issue of greenwashing: some companies blatantly mislead the industry or investors by marketing their product as fossil-free, although it contains fossil fuels.  ESG in Russia Tom and Bill discuss how the Russian invasion of Ukraine impacts ESG and how it ties into greenwashing. Bill points out that it's difficult to discuss only the environmental aspect as Russia also has numerous social and governance issues. He notes that several companies that claim to be environmentally conscious and pro-ESG, do work with other businesses that have worked intimately with Russia over the years. He believes that this is the fault of ESG rating data. “They're not doing a full job and understanding what they're buying. And secondly, I think it’s part of the nature of the world - as things are happening so quickly - that sometimes it's difficult to think of everything in advance.” As an ESG data analyst or fund manager, you should take current events into account so that when the next event happens you can respond more nimbly.  Resources Bill Davis | LinkedIn | Twitter  Stance Capital 

Elizabeth Crow is the CEO of OnPoint Industrial Services, a company that services every aspect of your industrial project, ensuring its smooth execution and the safety of your workers. Tom Fox welcomes her to this week’s show to talk about OnPoint’s work, how it helps people, and the future of safety within ESG.  How OnPoint Manages Turnarounds Tom asks Elizabeth to define turnarounds and how OnPoint facilitates them. A turnaround is a concentrated maintenance event where activities that cannot be conducted while the facility is online, such as cleaning, inspection, and repairs maintenance, are undertaken. A turnaround takes up to 6 weeks and thousands of people come on-site to do the work. Elizabeth describes OnPoint as a turnaround support services provider. She says, “The biggest part of OnPoint’s business is around safety, providing permits, providing safety attendants…. everything except the work itself is what OnPoint does.”  The Relationship Between ESG and OnPoint Tom asks how ESG has affected a company like OnPoint. Elizabeth explains that since ESG has become more popular, the private equity firm that owns them, Cap Street, has been focused on instilling ESG priorities into the portfolio companies they manage. However, due to the nature of the services OnPoint provides, it is difficult to focus on ESG in its entirety. Their work tends to focus more on the social and on the governance components of ESG than on the environmental component. “By the nature of what we do we can't impact the environmental footprint,” she remarks. She explains that they are concentrating on ensuring the safety of the workforce and maintaining their safety standards and compliance. Safety Requirements During Turnarounds  Safety has always been a key component of ESG. Elizabeth believes that it has been pivotal to OnPoint’s success, since the increased emphasis on safety means companies recognize the value of having a professional safety provider. While some companies that are conducting the turnaround will hire anyone to ensure safety, Elizabeth tells Tom, “we [at OnPoint] train [people] to a specific standard and when we send somebody out, it's treated as a professional service so you get a much higher quality from that.” This work aligns with the social aspect of ESG, caring for their rights. Looking Ahead Elizabeth believes that in the future more customers and stakeholders will be interested in more aspects of ESG, as the world is progressing in a direction to create safer work environments. Additionally, with the increasing threat of global warming more industrial companies will focus on the environmental aspect of ESG. Resources Elizabeth Crow | OnPoint Industrial Services  

Christian Perez Font has appeared on many of Tom Fox’s podcasts. He is the managing partner of Thinkeen Legal, a revolutionary law firm that specializes in corporate and commercial law, domestic and cross-border transactions, and compliance with a focus on startups, and small and mid-sized companies. He specializes in using data to help clients do traditional legal tasks. Thinkeen Legal’s main focus is the healthcare industry. In this episode, Christian and Tom discuss organizations' legal approach to ESG.  Compliance Through The ESG Lens Tom asks Christian how he approaches M&A and compliance from an ESG perspective. Christian responds that when he looks at data and legal projects, he thinks about the data from two perspectives. “First you need to think of data as fuel because it's what keeps your compliance cycle going on, your business cycle going on; but also as a measure of progress towards a certain goal.” The same goes for a company’s ESG program, he says. He explains that it is crucial to have fixed goals for each part of your ESG program as well as a way to measure your progress toward those goals. In an ESG program, you may have to analyze large sums of data in some cases, and in other cases the data may be very limited. He tells Tom, “When we talk about data in the governance side of things, you're probably going to have fewer amounts of data to track than if you're thinking about social responsibility.”  The Nexus Between Healthcare Compliance and ESG Thinkeen Legal is known for its work in the healthcare compliance industry, so Tom asks how data, healthcare, compliance, and ESG intersect. Christian explains that there's a big intersection of ESG and compliance on the social responsibility side and governance sides.  He remarks, “When looking at acquisition as an investor, one of the things you want to look at is the social responsibility program to know if this is the company you want to invest in from a corruption standpoint… In the healthcare sector, we’ve seen some companies use social responsibility initiatives for improper purposes.” Therefore, he advises that good asset management - which is a part of a governance system - can provide you with useful information from a compliance perspective about what is happening in relation to ESG in the company.  ESG and Data Analytics  Tom asks Christian about the importance of ESG audits and the importance of the data you collect. Christian replies that auditors play a crucial role in data tacking by having to intimately understand the trends the company is tracing. “Data analytics and tracking play a major role in business acquisitions,” he points out. “Know as much as you can about the other. Understand the company’s ESG program and have a clear grasp of its social responsibility and environmental footprint.” Resources  Christian Perez Font | LinkedIn | Twitter  Thinkeen Legal | Twitter | Instagram  

Tom Fox welcomes back Aaron Nicodemus to the ESG Report. Aaron is a writer at Compliance Week, a magazine that provides the latest information in the ethics, governance, risk, and compliance space. He primarily writes about regulatory policy and compliance trends. In this week’s show, he and Tom discuss Aaron’s new article series about FedEx’s journey on ESG.  The Inspiration Behind The Articles on FedEx and Their ESG Journey Justin Ross, CCO at FedEx, was dubbed the CCO of The Year at Compliance Week 2021. After he won the award, he and Aaron discussed the new efforts FedEx was venturing into. One of the initiatives that came up was FedEx’s environmental plan for the future. After extensive research, Aaron realized that “the extent of [FedEx’s] ESG initiatives went much further than I had realized”. This intrigued him and he decided to write the series based on his findings.  How FedEx Plans to Manage ESG Tom asks Aaron how a delivery company, that spends exorbitant amounts on fuel and vehicle maintenance, could reframe that into an ESG issue. Aaron replies that those were the first questions FedEx asked themselves when it conceptualized its environmental initiative. They decided to focus on reducing their emissions; that worked well alongside their fuel reduction initiative for a time. They determined that they could be more efficient with their jets, by ensuring that the engine does not idle more than necessary. However, as Aaron points out, emissions and fuel reduction are not a linear process, “Their biggest problem with their emissions is that because they're growing so fast, they're making more deliveries, they're making more flights through the air, and they just have trouble keeping their emissions down because they're expanding so fast.”   Ebb and Flow of FedEx’s Environmental Initiative  Aaron says, “One of the biggest touch points for FedEx with its ESG initiative is transparency.” He explains that they want stakeholders to understand their goals and the journey to get there so that when they have setbacks, they're all accounted for. For example, FedEx has ordered over 20,000 electric cars, to reduce exhaust emissions into the environment but only received five of them. He adds that they had another goal to increase an alternative source of jet fuel but they were having an issue with supply, and they ended up having to postpone the idea several times. However, since they are in constant communication with their investors, employees, and customers, they can comfortably discuss their failures, how close they got to achieving them, and why they did or did not achieve them. Resources Aaron Nicodemus | LinkedIn | Twitter  Compliance Week | Compliance Week Profile