Happy new year everyone! Long time, no blog… My consulting practice and volunteer director work has shifted more to governance in the past year. I also traveled and spent a lot of time in the woods (literally, not figuratively!). I will provide an update shortly on current trends in Ontario employment standards and common law, but decided to make this piece a little more personal as we think about and set targets for the new year.
Out of interest in the topic, I’m in the process of obtaining ESG certification through Competent Boards, an online program based in Europe but including US and Canadian speakers. Europe is miles ahead of the rest of the world in climate and other forms of ESG action and regulation, but helping set the bar in the global economy.
I’m currently learning about the 17 Sustainable Development Goals (SDG’s) from the UN, ratified in 2015 by 193 countries with a 2030 target.
When we read or listen to the news and some politicians on this side of the pond (ocean), it sounds like engaging in practices to stabilize carbon emissions, save the oceans and forests, reduce global and local poverty and food insecurity etc. is not economically viable and needs to be delayed. But data is indicating that investing and engaging in these practices is making companies more profitable. And many experts are indicating that delay on the environment is no longer possible if the world is to avert further climate crisis and related fallout.
We just learned that the global temperature rose faster than expected in 2023. https://www.cbc.ca/news/science/2023-hottest-year-on-record-1.7077959
I sometimes get discouraged by the news, or discussions with people who are skeptical about climate change or “woke” policies. But it has been encouraging and inspiring to me to take this course, to attend an ESG data conference in Toronto this past fall, and to hear about the many startup organizations at MaRS, where my sister works. There is a lot of activity happening behind the scenes by people who are not taking up all the airwaves, but doing good work for the betterment of the world or society, some for profit, some not.
Contrary to what we might see or hear on the news, the global economy is focusing more time, energy, and financial investment on environmental and social goals and initiatives. That is a train that organizations who want to continue to attract talent, customers and perhaps even funding don’t want to miss, as more investors and financial institutions are looking more closely at and requiring sustainable and equitable business practices before committing financial support.
The ESG course challenges participants to consider whether their organization is part of the problem (in which case what can they change or improve?) or part of the solution (in which case how can they gain more funding, partnership and/or scale?).
Call to Action:
If I could wish for one thing for the coming year, besides world peace (literally, not figuratively), it would be for everyone to reflect, on an individual and organizational level, what they can do or contribute to environmental and/or social concerns.
If you are an employee, what idea can you share, or how can you respectfully challenge your employer to change or improve a business or operating practice to make it more sustainable, or perhaps support greater equity or inclusion in the workplace? If there isn’t an opportunity in the workplace, is there an organization you can make a difference with by volunteering your time and expertise to a cause you feel passionate about?
If you are an employer or entrepreneur, how can you challenge yourself to improve as a leader or manager in guiding or supporting these types of goals, and how will you measure and track success of these goals, ideally created in collaboration with relevant stakeholders?
Food for thought as we embark on 2024… Wishing everyone, a happier, healthier, safer, and more prosperous new year.
The 17 UN Sustainable Development Goals (SDG’s) targeted for 2030:
ESG Defined:
ESG Investing: