iStock_000008881479XSmallBy Andrea Newell (Grand Rapids, Michigan)

Every day, more organizations are recognizing the impact sustainability practices can have on their business and are implementing sustainable initiatives. However, sustainability can’t exist in silo, it should be integrated into all aspects of organization. To be authentic and effective, sustainability must be measured, then goals set, documented and shared. As companies try to meet their stated goals, they should track their progress and report on their successes and shortcomings. Without transparency, sustainability efforts ring hollow.

Sustainability initiatives can increase employee retention and satisfaction, reduce greenhouse gas emissions, streamline business processes, save money, enrich the community and benefit the bottom line.

In honor of Earth Day, here are 10 ways that executive women can leverage their influence to make a difference.

iStock_000003734256XSmallBy Melissa J. Anderson (New York City)

With Earth Day around the corner, The Glass Hammer has decided to take a look into why sustainability makes sense from a business standpoint. We’ve long pointed out that companies must take a broader look at the gender composition of their workforce and senior leadership if they are to maintain a sustainable and profitable future. Today, we’re examining why a fresh look at investment in sustainability can spur innovation and growth.

Erika Karp, Head of Global Sector Research at UBS, said that she feels strongly that sustainability investing needs to be “completely integrated into the investment process – the decision-making matrix which drives stock recommendations.”

Karp said, “We’re talking about a paradigm shift here.”

She continued, “Good long-term investing starts with great questions. What we can do through great questions is make sure we are covering the material areas of inquiry that haven’t been pursued as they should be from the standpoint of risk adjusted return.”

What a mouthful! But, Karp explained, considering sustainability issues around environmental, social, and governance matters can only improve the investment process. She said, “If we are doing our best in investment bank research, we must do our best to pursue all areas of inquiry.” Considering so-called non-financial (or extra-financial) information when making decisions about investments is just a smart way to do business.

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iStock_000015781716XSmallBy Melissa J. Anderson (New York City)

Last week, the Women’s Network for a Sustainable Future organized an event around new trends in sustainability reporting. With shareholders, regulating agencies, and the public increasingly interested in results, the quality of metrics around corporate sustainability has improved dramatically, as has awareness of the importance of benchmarking and reporting progress.

Ann Goodman, Executive Director of WNSF said, “Everyone from the SEC down and up is clamoring for disclosure.”

Moderated by Helle Jorgensen, US Sustainability Advisory Leader and member of the Global Sustainability Leadership Council, PwC, the panel included Margaret Lindeman, Sustainability Strategist, Lockheed Martin, Erica Matthews, Manager, Public Policy and Sustainability, Pepsico, and Mike Wallace, Director of Sustainability Reporting Framework, Global Reporting Initiative (GRI).

Corporate sustainability metrics matter to investors, consumers, and employees – and improving metrics around sustainability reporting will be critical to corporate success in the future.

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iStock_000013764446XSmallBy Andrea Newel (Grand Rapids, Michigan)

This article originally appeared on our corporate citizenship website Evolved Employer.

Talk of more green jobs has been everywhere lately, touted as a solution to our economic crisis soaring unemployment rate, and impending climate change situation. However, most green jobs to date have been male-dominated, labor-intensive roles in construction and manufacturing. With women comprising nearly 50% of the current workforce, the green solution will not be nearly as effective without involving more women and utilizing their strengths.

  • Encourage women to pursue jobs in math, science and technology. This is the same idea we have discussed many times, but it is becoming increasingly important. In addition to becoming engineers or scientists, women could become architects designing LEED-certified buildings and interior designers selecting environmentally-friendly furnishings.
  • The EPA reported that U.S. buildings are responsible for nearly 40 percent of the nation’s total carbon emissions and almost 75 percent of total electricity consumption each year. Strides toward more environmentally-friendly new construction, as well as retro-fitting older buildings to improve their carbon footprint could make a huge impact. Men may dominate the manual labor market for this niche, but woman could help lead the way.

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iStock_000001735577XSmall[1]by Liz O’Donnell (Boston)

Green mutual funds might seem like the hottest new trends on Wall Street but women in this industry are adamant that green investing is not a passing fad. According to the Social Investment Forum, an association of socially responsible investing firms and professionals, socially responsible investing represents an estimated $2.71 trillion. From 2005 to 2007, this segment of the market grew at a rate of 18 percent.

“Green business is not a trend,” says Vicki Radden, Managing Director of the Capital Markets Partnership. “It’s a new way of approaching business that is not an option. It is a requirement.” The Capital Markets Partnership (“CMP”) is a nonpartisan, nonprofit coalition of investors, investment banks, insurers, city, state and federal government, countries, and NGOs creating a market shift toward sustainable investment. Says Radden, “The Capital Market Partnership provides advocacy for various financial products and pushes forward the agenda within the capital markets to drive financial entities to develop, support, invest and promote.”

Radden likens the so-called trend in sustainable investing to the dot com era in the early nineties. Back then, companies viewed adding a dot com to their names and creating an Internet presence as a “hot” idea and key differentiator. However, a few years later, it was standard operating procedure; a requirement for doing business.

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by Elizabeth Harrin (London)

Fund managers are faced with a rack of new decisions, shaped by the climate change agenda: should we invest in ‘clean’ energies like wind power? If you know an organisation consumes a lot of carbon, does that make its market value less? On top of that, it’s a political hot potato, with the impending discussions at COP 15 (December’s climate change conference), and the Obama administration pushing ahead for a cap-and-trade scheme.

With the US carbon emission trading market set to be worth $1 trillion by 2020 investors can’t help but take notice. Companies are going to need to know exactly how much they are emitting. A whole industry has sprung up around green house gas emission calculations, with the aim of permitting allowances to be accurately traded with software like GreenCert, which has been produced as a joint effort by IBM, C-Lock Technology, Inc. and Enterprise Information Management.

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istock_000003447790xsmall1by Liz O’Donnell (Boston)

Even as traditional jobs are being cut, “green” jobs are opening up, creating hot new career opportunities for executive women.

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istock_000003160975xsmall1Contributed by Ann Marie Orchard (New York City)

 

The US Congress appears poised to pass carbon cap and trade legislation, perhaps as soon as the third quarter of this year. Although there has been a market price on carbon in the UK and Europe for some time now, the US has no broad mechanism for factoring in an implicit price for carbon.  Until now,  efforts have been limited to regional attempts to develop progressive responses to climate change risks, in the absence of formal policy. But, the world is changing, and the heightened awareness surrounding sustainability is making an appearance in the asset management industry. 

 

In the world of those who manage money or other assets, sustainability has a specific definition: the integration of environmental, social and governance (ESG) factors into the investment decision-making process.  How does this particular application of sustainability enhance risk assessment, and how can this enhanced analysis allow managers to seize opportunities and manage risks that are associated with these emerging ESG factors?  

 

The beauty of practicing sustainability in the setting of an asset manager is that you have the opportunity to learn and look at major emerging issues across diverse industries and sectors, as that is how the institutional business is generally structured.  Managers, initiate manage,  and close out positions in many sectors, unless they are focused more exclusively by their investment mandate on select industries.

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Joyce_03_1_.jpgby Pamela Weinsaft (New York City)

At the beginning of her career, Joyce LaValle, a senior vice president with Interface Inc., the world’s largest manufacturer of modular carpet, never would have dreamed she’d be the impetus for a seismic shift in her employer’s business plan or that she’d become a spokesperson and advocate for sustainability.

LaValle began in a junior position as the DC showroom manager with Interface. Ultimately, the company seized upon her prior experience with an architectural firm to move her into a position selling to the design community. In 1994, she was actively pursuing a potential customer who was courting vendors for the most sustainable building at that time. LaValle realized she wasn’t even sure what sustainability was all about. Her daughter, who had earned a Master’s Degree in Environmental Studies and had voiced her concern about the harmful materials and production methods used in the carpet industry, gave her the book, “The Ecology of Commerce” by Paul Hawkins. The book, which talks in depth about the detrimental impact such methods were having on the environment “had a profound effect on me…I was pretty horrified that my daughter was so ashamed of what I was doing,” said LaValle.

LaValle summoned the courage to take it to the top of the company and had someone put the book on a corner of CEO Ray Anderson’s desk. “It was a little intimidating: he was two bosses above me. But because my daughter was so disappointed, I tried to do whatever I could to fix it.”

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iStock_000004780659XSmall_1_.jpgBy Tina Vasquez (Los Angeles)

Being a professional in the working world today is tough. Between clients, business meetings, and family, very few women have the time or energy to take on extra projects. Recent surveys have shown that the green movement is slowly finding its way into corporate offices. If major corporations can find the time and resources to “greenovate” during these trying economic times, there’s no excuse as to why your home office can’t get an eco-friendly facelift of its own.

According to the Bureau of Labor Statistics, 20 million Americans work from home a couple of days a week. Essentially, that means the added energy use from lights and office equipment and extra paper consumption from faxes, sticky-notes, and computer printouts is taking its toll on the environment as we speak. The idea of turning your home office into an efficient, eco-friendly workspace may seem overwhelming at first, but rest assured it’s not as difficult or time-consuming as you may think. Taking the time to consider a few minor adjustments will make a big difference in your life and to the lifespan of the planet.

Greening your home office doesn’t have to entail an entire overhaul that takes weeks to complete. As a matter of fact, getting rid of your old things is wasteful and defeats the purpose of greening. You don’t have to rip out your carpet and replace it with cork flooring or ditch all of your office furniture for new hemp furniture. Kelly LaPlante, celebrity interior designer, owner of Organic Interior Design in Venice Beach, CA, and author of écologique: The Style of Sustainable Design, knows green design inside and out and says one of the biggest misconceptions is that you have to throw out all of your non-green items and start from scratch. “You can’t green your office from the perspective that you’re going to buy all new eco-products. The greenest thing you can do is nothing at all. Keep what you already have and don’t send things off to a landfill and contribute to the environmental impact that new production has on the environment. Start with the principal of reusing or repurposing already existing items in new and interesting ways,” LaPlante said. Bookshelves can be painted, existing chairs can be upholstered in organic fabrics, walls can be painted with low VOC paints- you get the idea.

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