Environmental Defense Fund (EDF) is a global leader in partnering with business for strong environmental and bottom line results. We have a 25-year track record working hand in hand with corporate leaders to unleash environmental innovation while demonstrating that good environmental strategy is good business strategy.
I spend my days thinking about how companies can use their market power to improve our environment and health. Companies are motivated to lead on sustainability for a number of reasons including cost savings, risk management and improved reputation. Additionally, the stakeholders companies most want to impress are their customers and shareholders, which studies show care deeply when it comes to sustainability. In fact, in a 2017 Morgan Stanley survey, 75 percent of investors said they are interested in sustainable investing and 71 percent believe companies with leading sustainability practices may be better long-term investments. Given this, companies are increasingly talking about their sustainability efforts.
An example of such a company is Walmart, who recently hosted its annual shareholder meetings in the form of a formal business meeting and an event for associates and shareholders. As a sustainability professional, I was pleased to see both meetings highlight sustainability as a key strategy for Walmart moving forward.
The simple answer is this. Environmental Defense Fund (EDF) approaches challenges pragmatically. If we want to rid the planet of harmful climate pollution, our efforts must include working with the industries that can make the biggest difference.
That means I spend a lot of my time working with leaders from the oil and gas industry. While we don’t always agree, we forge solutions wherever we can.
At Environmental Defense Fund, we believe that environmental progress and economic growth can and must go hand in hand. EDF+Business works with leading companies and investors to raise the bar for corporate sustainability leadership by setting aggressive, science-based goals; collaborating for scale across industries and global supply chains; publicly supporting smart environmental safeguards; and, accelerating environmental innovation.
This is the eighth in a series of interviews exploring trends in sustainability leadership as part of our effort to pave the way to a thriving economy and a healthy environment.
Equinor, formerly known as Statoil, is not your average energy company. The Norwegian-based corporation reports producing oil and gas with half of the CO2 emissions, compared to the global industry average.
The company also stated commitment to building its business in support of the Paris Agreement, and plans to invest over $200 million in Equinor Energy Ventures, one of the world’s largest corporate venture funds dedicated to investing in growth companies in renewable energy. That may be why CDP ranked Equinor as the oil and gas company best prepared for a low carbon future.
Equinor is also doing its part to detect and reduce methane emissions by embracing innovation and technology. In fact, Equinor was the first energy producer to purchase and install a new solar-powered technology device to continuously detect methane leaks. And, Equinor collaborates with EDF and Stanford in supporting mobile monitoring advances, such as drone based sensors.
In advance of the World Gas Conference in DC later this month, I spoke with Bjorn Otto Sverdrup, senior vice president of sustainability at Equinor, to learn more about the company’s climate goals and how the company is addressing methane emissions from its oil and gas operations. Here's an edited transcript of our conversation. Read more
You know that feeling when you’re cheering for your team to win, and they do? That’s the feeling I get to experience every day in my job as Manager of the EDF Climate Corps network (aren’t I lucky?!) Yesterday GreenBiz announced it’s “30 Under 30" – a global search for emerging leaders who are shaping the next generation of sustainable business. To my delight, I saw Kayla Fenton, a 2015 EDF Climate Corps fellow, included in this impressive group. This was exciting, but not surprising; the EDF Climate Corps network is filled with inspiring leaders, just like Kayla, who are tackling corporate sustainability issues every day.
I first met Kayla when she was preparing for her summer with Nestle Waters NA. In just ten weeks, she managed to surpass everyone's expectations. “Kayla’s detailed analysis and cross-company collaboration created the internal engagement and buy-in to move forward with a Power Purchase Agreement (PPA) for my last company. Her great work inspired me to bring on an EDF Climate Corps fellow in my new role with Danone Waters of America to advance carbon reductions in North America for our carbon neutral brand, Evian." Recalled Debora Fillis-Ryba, Kayla's former supervisor at Nestle, now with Danone Waters of America.
Now, with Amazon, Kayla manages programs to minimize the company’s footprint by eliminating packaging waste. Her efforts save the company money and energy, and optimize delivery by reducing material across the supply chain. It’s innovative, it’s sustainable and it’s economic – it’s winning!
If you were asked five years ago "What types of companies are thinking about – and acting on –sustainability?" you would likely answer with the usual suspects: Patagonia, REI, etc. Less likely on your radar, I’d venture to guess, were players like TPG Capital, Novartis or Caterpillar. Today, companies across all sectors are re-envisioning what it means to be sustainable, and EDF Climate Corps is helping them do so.
Last week I attended my 7th EDF Climate Corps training – the annual kick-off to the summer fellowship. I left the reception with the feeling that this year would be different than previous; partly due to my new role as manager of the program, but more so from the conversations I had with this year’s cohort of 115 EDF Climate Corps fellows. There was a shared feeling that the mindset around corporate sustainability has changed from a nice-to-have to a must-have. And it was inspiring to hear how this group of determined, talented individuals plans on helping some of our country’s largest businesses meet and strengthen their climate goals.
It’s inspiring people like these – coupled with the broader trends at play – which give me so much confidence in the EDF Climate Corps model to help more companies tackle larger, more impactful and more innovative energy-related projects. Here’s why:
The momentum driving companies to cut carbon emissions shows no signs of slowing down, despite the lack of leadership from Washington, D.C.:
According to the new Deloitte Resources 2018 Study, the number of companies with climate goals is higher than ever, and nearly half of businesses surveyed are working to procure more energy from renewable sources.
Over 70 percent of executives surveyed for a recent Environmental Defense Fund report on environmental innovation said their business and environmental goals are more closely aligned than they were just five years ago, and that they are already actively investing in technologies that solve environmental problems.
Most important, businesses increasingly see public policy as critical to achieving their climate and clean energy goals. Last month, leading companies including Apple, Google, Mars, Danone, Nestle, Unilever and American Eagle Outfitters filed comments with the Environmental Protection Agency (EPA), opposing repeal of the Clean Power Plan and affirming their support for policies that drive down emissions and increase access to renewable energy.
Here are three key takeaways from these developments.
Many companies set goals to achieve zero net deforestation by the year 2020. That date may have seemed like a long way off when they were planning, but with now less than 20 months to go, it’s not surprising that companies and NGOs are looking for ways to drive forward progress, faster.
That’s also why the Tropical Forest Alliance 2020 (TFA) is meeting in Ghana this week. The TFA is a group of governments, NGOs, and private sector actors committed to making the 2020 goals a reality. One of the things they’ll surely be discussing is the recent field trip that Environmental Defense Fund (EDF) organized to a cattle ranch in Brazil (as part of TFA’s Latin America convening in March).
If you are on a corporate sustainability team that is racing to meet those 2020 goals, you’ll be interested in the three, big takeaways from the trip:
Hundreds of companies have committed to eliminating deforestation from their supply chains by 2020, but the political landscape and market conditions are shifting as the deadline draws nearer. Here are four emerging trends that these companies – as well as the governments and civil society organizations engaging with them to zero out deforestation – should be taking into consideration as 2020 fast approaches.
What can happen when the CEO of the world’s largest retailer says publicly that making the world better is more important than sales? The answer: a gigaton.
I was able to attend Walmart’s annual Sustainability Milestone Summit for the first time last month in Arkansas, and as EDF+Business’ new lead on climate change and energy issues in the supply chain, I have to say it was an incredible experience. At work was a tangible display of EDF+Business’ supply chain theory of change – that some companies have the power to move markets, and if they choose to, can use that power to accelerate progress on climate change.
Today marks my one year anniversary of joining EDF Climate Corps, where I’ve spent the last 12 months helping companies think through the strategies for meeting – or setting – their climate goals. What I’ve learned in this short time is that companies are going beyond the “safe bet” to tackling bigger and more impactful projects. In doing so, I’ve identified four important trends in corporate sustainability this year that all business leaders should be watching.
But before we get into these trends, let’s step back and look at how corporate sustainability has evolved. In my previous role as president of Green Impact Campaign, I helped thousands of small businesses get their foot into the sustainability door by investing in energy efficiency. It was a low-risk, reliable way to cut costs and reduce their carbon footprint. Now, with EDF Climate Corps, I’m working with businesses to go beyond implementing the already-proven strategies – like energy efficiency – to setting new trends that others will follow.