Corporate Sustainability – A Converging Opportunity to Simultaneously Reduce Carbon Emissions and Optimize Multi-Tier Supply Chain Risk?

April 2021

by Pam Styles – Fellow, G&A Institute and Principal & Founder of Next Level Investor Relations LLC

There may be a converging opportunity for companies to accelerate total carbon emissions reductions (Scopes 1, 2 and 3) in collaboration with critical efforts to better understand and mitigate multi-tier supply chain risks that were revealed by the COVID-19 pandemic.

Expansive coverage of emerging trends supporting this thesis is presented in the Resource Paper, The Carbon Key: Transcending ESG Disclosure Frameworks Consolidation and Accelerating Supply Chain Awareness, newly published on the Governance & Accountability Institute website.

HIGHTLIGHTS

✔  A noticeable increase in the number of new articles combining observations about CO2 and supply chain, including articles from the World Economic Forum, The Wall Street Journal and CDP, formerly known as the Carbon Disclosure Project.

✔  Articles supporting the idea that conditions may already exist for the commercial business sector to make real and lasting emissions reductions on its own – sooner and better – than to wait for geo-political negotiations and distant reduction target dates.

✔  Introduction to complementary opportunities for individual companies and the commercial business sector to focus on supply chain CO2 contributors and reductions that are material.

✔  A challenge to imagine if carbon emissions disclosure and performance tracking were prerequisites to resume sourcing from pre-Covid suppliers.

Thinking of these trends from an Investor Relations and ESG communications vantage, with some rudimentary optimization modeling exposure, it is suddenly compelling to take a look at Scope 3.

SCOPE 3 – “THE CARBON KEY”

Scope 3 CO2 emissions include both upstream and downstream categories.

Using guidelines published by the Global Reporting Initiative (GRI) for layman’s interpretation, Scope 1 (direct) and Scope 2 (indirect) CO2 emissions are defined as coming from sources owned or controlled by an organization; Scope 3 CO2 emissions are a consequence of an organization’s activities, but occur from sources not owned or controlled by the organization.

An excerpt from the Scope 3 guidelines points to, “The reporting organization can identify other indirect (Scope 3) emissions by assessing which of its activities’ emissions… contribute to climate change-related risks, such as financial, regulatory, supply chain, product and customer … “

Upstream categories, at least the first four listed below, could be constructive additions to supply chain optimization models. In this way, companies could assess Scope 3 emissions improvement performance indicators for each potential supplier in a similar way as cost inputs are compared for low-cost sourcing optimization in supply chain modeling and actual procurement decision-making.

SCOPE 3 – CO2 EMISSIONS

Upstream categories

Downstream categories

1. Purchased goods and services

1. Downstream transportation and distribution

2. Capital goods

2. Processing of sold products

3. Fuel- and energy-related activities (not included in Scope 1 or Scope 2)

3. Use of sold products

4. Upstream transportation and distribution

4. End-of-life treatment of sold products

5. Waste generated in operations

5. Downstream leased assets

6. Business travel

6. Franchises

7. Employee commuting

7. Investments

8. Upstream leased assets

Other downstream

Other upstream

 

Source: Global Reporting Initiative Standards GRI KPI 305 – Emissions

CONTEMPLATE & CONSIDER
The Carbon Key article introduces several questions and things to contemplate:

  1. How might companies quickly re-evaluate their supply chain optimization decisions in the immediate post-Covid recovery?

  2. Imagine how different management decisions might be if all layers of CO2 emissions were factored into the total cost of ownership (TCO) in supply chain decisions and risk mitigation.

  3. Notice similarities between companies’ struggle to capture and report Scope 3 CO2 emissions and of supply chain tiers mapping challenges.

    A recent study found, that while 91% of companies can identify the physical location of most or all of their Tier 1 supplier facilities, only 17% could do so of their Tier 3 supplier facilities.

  4. Companies’ leadership and understanding of its complete carbon footprint may be rapidly put to the test as capital markets and respective raters’ increase their attention on this issue.


The ESG/Sustainability field has been quietly maturing in the business sector, while the U.S. and global government sector has been distracted by the pandemic.

✔  The latest annual trends tracking conducted by the Governance & Accountability Institute shows 90% of S&P 500 and 65% of Russell 1000 companies produced sustainability reports as of 2019.

✔  In September 2020, five of the most globally recognized ESG voluntary reporting frameworks – GRI – CDP – SASB – IIRC – TCFD – announced they have pledged to work together in harmonizing ESG framework guidelines.

✔  As these five entities attempt to harmonize guidelines, other entities and collaborations have recently announced development of new ESG disclosure frameworks, i.e., CFA, the Big Four accounting firms, International Business Council (IBC).

✔  ESG-related data suppliers and aggregators continue to assert influence with frequent announcements of new ESG ratings and syndication arrangements to meet the growing information demand.

✔  Carbon emissions is one topic that transcends differences across most of the major voluntary ESG reporting frameworks. No matter which framework guideline(s) a company chooses to use, Scope 1, 2, or 3 CO2 emissions guidelines generally refer to the globally accepted methodology referred to as the Greenhouse Gas (GHG) Protocol. The carbon key can unlock interconnections to aid ESG framework harmonization.

CLOSING THOUGHTS
Talk to each other! Forget about internal silos and collaborate between teams.

There is every reason to believe that company experts can look at the carbon key to find faster, focused and efficient ways to mesh two seemingly different challenges – supply chain tiers risk and Scope 3 CO2 emissions reduction – for optimization that delivers real return on investment.


Pamela Styles – Fellow, G&A Institute – is Principal and Founder of Next Level Investor Relations LLC, a strategic consultancy with dual Investor Relations and ESG / Sustainability specialties.

 

Overview: Select Sessions, “SB21” Trendwatching – Mapping the New Brand Purpose Landscape

April 2021

by Kirstie Dabbs – G&A Institute Sustainability Reports Analyst and G&A Sustainability Analyst Intern Team Leader

BACKGROUND
Sustainable Brands hosted its “SB ’21 Trend Watching“ event (virtually) on February 23, 2021. Covering the intersecting crises from 2020 and opportunities that lie ahead for stakeholders in 2021, the event was full of information about the increased value of purpose for consumers, brands, and leaders.  

I present here brief recaps of select sessions with content that will be of value to many of our blog readers. 

Session Spotlight: “What We Learned About Ourselves in 2020”

Dimitar Vlahov, Senior Sustainability, Regeneration & Brand Transformation Expert at SB kicked off the event with an overview of key trends reflecting the state of our planet, society, and business environment, including:

  • Increasing existential risks related to biodiversity collapse. This, he said, is “very real and very close.” With one million species currently at risk, and global wildlife populations down 68% since 1970, humans and livestock now comprise 96% of all existing mammals. Only 4% of mammals on earth are in the wild. This is a tragic and very dangerous imbalance, he posited.
  • Growing presence of climate grief and climate anxiety in youth and young adults
  • Erosion of social /societal cohesion.
  • Increased focus on racial justice. Because this is such an important trend, Sustainable Brands will host a Just Brands event devoted exclusively to social and racial justice in May 2021.
  • Widening digital inequality.
  • Rise of intentional (and unintentional) spread of false news. False news stories on Twitter travel six (6x) times faster than true / factual stories, according to a recent MIT study.
  • Declining trust in institutions, specifically national governments, global companies, and the media.
  • Signs of collapsing multilateralism.
  • Rising inequality of stock market holdings in the United States of America. U.S. families in the top 1% of net worth hold nearly 40% of overall equities, while families whose net worth falls in the bottom 50% hold only 1% of overall equities, according to Survey of Consumer Finances data presented by The New York Times.
  • Growing commitments to Stakeholder Capitalism have yet to be supported by appropriate levels of action. Despite the promise made by 180 members of the Business Roundtable (BRT) to redefine the purpose of a corporation as benefiting all stakeholders (employees, customers, suppliers and local communities in addition to shareholders) very few have apparently amended their governing purpose guidelines beyond the long-term focus on the Professor Milton Friedman school of shareholder primacy.
  • Increase in Science Based Targets on climate. Over 1,000 companies worldwide are working on science-based emissions reduction targets through the Science Based Targets initiative (SBTi). Exciting news: methodologies are also being developed for setting science-based targets for water, land use, forests, biodiversity, and oceans as well – described below.

Session Spotlight: “Goal Setting & Innovation: Critical Environmental Thresholds”

Kevin Moss, Global Director of the Center for Sustainable Business at the World Resources Institute (WRI) and Chair of the Science Based Targets Network, moderated this discussion with Lina Constantinovici, Founder and Executive Director of Innovation 4.4 and Roberta Barbieri, PepsiCo VP of Global Water and Environmental Solutions.

The session covered new developments around science-based targets (SBTs) for all aspects of nature: biodiversity, climate, freshwater, land, and oceans.

This, of course, in addition to SBTs for climate, which are gaining popularity. This important work is being performed by the Science Based Targets Network, comprised of 20 nonprofits including World Resources Institute. Science-based targets for nature, geared toward cities and companies, will be released by 2022. Initial guidance for business is already available in this 2020 report.

Developing methodologies for these targets poses a challenge, due to contextual variations of resources based on region, accessibility, and use. Freshwater use in a water-scarce region has different limitations than in a non-water-scarce region.

Nevertheless, these targets will be critical in the management of the global commons that power not only our economy, but our very existence.

The SBT Network is currently partnering with private sector companies to pilot targets to determine their feasibility and effectiveness.

Important news:  PepsiCo has signed on to pilot a freshwater target wherein each water-scarce watershed in its supply chain will have a unique target for water management.

PepsiCo knows that freshwater is material to its business and has been focused on water stewardship for years. Adopting a science-based freshwater target will inform the Company about what is required to alleviate water risks, and how far it is from achieving its own water targets.

As Roberta Barbieri pointed out, if PepsiCo is water insecure, other companies are as well. She hopes that this pilot will influence other companies to participate in such work going forward.

Lina Constantinovici shared the mission of Innovation 4.4, which is to accelerate the commercialization and deployment of water, energy, health, materials science and space technology most critical to the achievement of the Paris Agreement and the United Nations Sustainable Development Goals.

Her session highlighted the critical issues facing oceans today, sharing that oceans are Earth’s most valuable asset, contributing US$70 trillion to global GDP annually and over 50% of the oxygen we breathe.

Yet — the quantity of plastic in oceans is expected to outnumber fish by 2050, and UN Sustainable Development Goal 14 – Life Below Water – is second to last in terms of the funding it receives compared to the other SDGs.

For this reason, Innovation 4.4 developed a multi-pronged strategy to innovate for better oceans. Initiatives include Oceans Funders, which enables a more aligned and informed approach to funding ocean solutions, and Oceans Prize, a contest to find plastic alternatives and remove existing plastic from oceans.

Global collaboration and ambitious thinking will be required to tackle our global challenges, of which oceans and freshwater are only two examples. The forthcoming SBTs for nature will allow organizations to measure and take responsibility for their environmental resource use.

Perhaps in a few years’ time we’ll be so lucky as to hear about 1,000 companies working toward such targets. This SB ’21 Trendwatching event provided cause for stakeholder to be optimistic that the rise of brand purpose will help to move us in that direction.

About Author Kirstie Dabbs
2021 Intern Team Leader
G&A Sustainability Reports Research Intern

Kirstie Dabbs is currently pursuing an MBA in Sustainability, with a focus on Circular Value Chain Management, at Bard College in New York. Her fluency in corporate disclosure stems from the program’s emphasis on the Integrated Bottom Line. As an MBA student she has enjoyed developing sustainability strategies for public, private and nonprofit organizations.

In her role as an Associate Consultant for Red Queen Group in New York City, Kirstie provides organizational analyses and support for nonprofits undergoing strategic or management transitions. Her rich background as a project manager at The Metropolitan Opera has informed this role, and she remains an enthusiastic supporter of the visual and performing arts.

Kirstie is also a member of the Climate Reality Leadership Corps, an organization led by former Vice President Al Gore that promotes awareness of climate change worldwide, and is a contributor to GreenHomeNYC, a resource for green building and career development in the New York metropolitan area.

The United States of America Moves Forward with the Biden-Harris “Climate Crisis Agenda” for Federal Government Actions

March 2021

by Hank Boerner – Chair & Chief Strategist – G&A Institute

As he assumed the post of the highest elected public officer of the United States, President Joseph Biden characterized his [as the] “Climate Administration” — and immediately (the fabled Day One actions) set out a very ambitious “climate crisis” policy agenda for action by the many arms of the Federal government agencies under his control. (Notably, all cabinet offices with their great reach into all corners of the American Society.)

As a current commentary in the influential Harvard Business Review explains: “Biden put the environment squarely at the heart of U.S. federal policy, and for good reason. The future competitiveness of the U.S. economy is at stake, and climate action is an effective way to boost jobs, prevent future systemic shocks, and secure a prosperous future.”

In the commentary by Maria Mendiluce, CEO of the We Mean Business coalition, she posits at least seven important implications for corporate sector and other business leaders:

  • Climate regulation is coming (with a “net zero emissions” goal envisioned by 2050). Climate-focused regulations are being adopted around the world and we can expect to see some in the near term in the United States of America. The U.K. is an example – 2030 is the end date for sales of gasoline-powered autos.
  • Corporations will be in the vanguard in moving society in transitioning to the net zero ambitions (companies can help to scale up solutions for de-carbonizing society). Examples cited include Amazon, Apple, Ford, Microsoft, Walmart, Uber, and Verizon.
  • There’s risk for companies that delay climate action. Watch out if your enterprise is not “de-carbonizing” and transitioning from “black-to-a-green” energy company.
  • As we are seeing, investors are looking with favor on companies that taking action on climate matters – portfolio managers are moving away from high polluting firms. Asset managers like BlackRock are leading the way in pushing corporate leaders to adopt net zero targets. Capital is “looking” for greener businesses to invest in.
  • Soon, we can expect climate risk disclosures and reporting on GHG emissions to become mandatory. The Commodity Futures Trading Commission (CFTC) has warned that financial regulators must recognize climate change poses risk to the U.S. financial system. The head of that federal agency is now talked about as prospective Chair of the Securities & Exchange Commission in the Biden-Harris Administration.
  • While there has been discussion about carbon pricing schemes, and a bit of action in Europe, we can expect to see that discussion to increase in tempo and a price put on pollution.
  • Public sector investment in clean energy is on the rise (look at the volume of “green bonds” in recent months). In the United States, the new administration pledged to invest US$2 trillion in clean energy and infrastructure and the many Trump-Pence Administration rollbacks of environmental regulations are being put back in place by Biden-Harris actions.

We can expect to see more presidential Executive Orders, more administration, corporate and public sector pledges and commitments, and more Biden-Harris administration policy definitions related to climate action in 2021.

President Biden plans to convene a Leaders Summit for Earth Day and have the U.S. government back at the table at COP 26, the global confab for climate negotiations. “The USA is back” is the theme for 2021.

Concludes Maria Mendiluce: “This is a turning point for the U.S. and the world. It’s not too late for companies to adapt to the new net zero economy and support a green recovery. There is also no time to lose.”

We have selected her essay in HBR for the Top Story category of the G&A Newsletter this week, along with relevant developments in the “Climate Administration” of President Joe Biden and VP Kamala Harris.

The “We Mean Business” coalition has 1,596 companies involved with collective market cap of almost $25 trillion; these firms have made 2,000-plus “bold action climate commitments” to date. There is more information at: https://www.wemeanbusinesscoalition.org/

TOP STORIES

On Corporate Risk Strategy, Sustainable Actions & Outcomes – What’s the Best Ways to Report on ESG to Stakeholders?

April 2021

by Hank Boerner – Chair & Chief Strategist, G&A Institute

Buzz… Buzzz… Buzzzzz! The current buzz among key stakeholders – investors, corporate boards & management, NGOs, government regulators, stock exchanges, ESG raters & rankers, ESG corporate disclosure standards and frameworks managers – is centered on “Quo Vadis”…where do we go from here!

The good news is that the lively discussions underway appear to be indicating progress in the global drive to achieve more holistic, meaningful, accurate, comparable, understandable corporate ESG disclosure approaches.

One, to help publicly-traded company managements understand and provide transparency for the data sets, metrics and narratives that asset owners and their managers, and (2) to help creators of sustainable investing products in their expanding analysis of companies of all market cap sizes.

Influential players are part of the discussion.

Example: The World Economic Forum (WEF) published a White Paper in January 2020 to set out a framework to bring sustainable reporting frameworks & standards into a common and consistent system of metrics. This, to help investors and companies attain sustainable value creation and accurately disclose on same. WEF suggests a set of 22 Core metrics and a range of Expanded metrics to start with.

At the same time the “Big Five” of the global corporate sustainability disclosure and reporting frameworks and standards organizations are collaborating and recently published a shared vision of the elements necessary for achieving more comprehensive and holistic corporate sustainability reporting.

The five organizations are: CDP; the Climate Disclosure Standards Board (CDSB); Global Reporting Initiative (GRI); International Integrated Reporting Council (IIRC); Sustainability Accounting Standards Board (SASB). Plus TCFD, the Task Force for Climate Related Financial Disclosure, created by the Financial Stability Board (FSB), a G20 nations organization.

Joining the effort: The European Commission; IOSCO (global government securities regulators organization); WEF’s International Business Council; and IFRS.

Each issue of the G&A Sustainability Highlights newsletter we bring you information about the above and much more related to the increasing tempo of the buzzzzz on corporate sustainability disclosure and reporting.

The discussions are taking place worldwide as leadership in public sector, private (business/corporate) sector and social sector address a widening range of ESG issues that will over time determine what kind of world we’ll live in.

See: meeting the challenges of climate change multiple issues, diversity & inclusion, populations deciding on democracy or authoritarianism, having ample food supplies or facing starvation, providing equality of opportunities & outcomes, pandemics to come, rapidly disappearing natural resources, political financing, a range of labor/workforce challenges…and more.

The content silos in our newsletter are designed to help you scan and select the news and perspectives we gather for you each issue.

The G&A Institute’s “Sustainability Headquarters” (SHQ) web platform has many more items selected by our editorial team led by EVP Ken Cynar for you. He’s assisted in these efforts by G&A’s Amy Gallagher, Reilly Sakai, Julia Nehring, Elizabeth Peterson, Lucas Alvarez, Lou Coppola, and Hank Boerner. All of this is team effort! Check the expanded related contents not in the newsletter on SHQ!

We constantly monitor all of the above issues — the global ESG disclosure buzz! — and participate in certain of the conversations as guiding the ESG disclosure and reporting of our corporate clients is at the core of the G&A Institute mission.

TOP STORIES

Game Changing News on Climate Crisis Actions – President Biden Announces “Whole of Government” Plans

By Hank Boerner – Chair and Chief Strategist – G&A Institute

What a time to be a sustainability advocate – January 2021 is it!  There was significant news in the USA on matters related to meeting climate change challenges. Start with the Biden-Harris Administration bold moves on addressing the climate crisis…

President Joseph R Biden, in his first days in office signed Executive Orders to commit the “whole of government” to addressing the climate crisis in the USA — and around the world.

The President of the United States of America has broad, sweeping powers as the elected head of the Executive Branch of government.  Presidential EO”s must be anchored in the existing laws of the land (such as the Clean Air Act), be within the powers of the presidency as set out by the Constitution of the United States, and serve as the “directives” and instructions (as well as memoranda and “findings” and more) from the head of the Executive Branch to the organs of the Federal government of the United States of America.

The American Historical Institute explains the EO serves to deliver direct orders, intrepretation of law, provide guidance for future regulatory actions, structure government institutions or processes, and make political statements (foundations of policy). This is an often-used approach creating policy.

American heads of state have used the EO process at least 20,000 times dating back to the days of President George Washington – these orders can be challenged by the other two branches of the U.S. government (Judicial and Legislative).

The Biden Executive Orders are assembled in “Tackling the Climate Crisis at Home and Abroad” – the EOs issued “take bold steps” to combat the climate crisis at home in the USA and throughout the world with many elements included (starting with rejoining the Paris Agreement). Consider:

  • The climate crisis will be “centered” now in U.S. foreign policy and in national security considerations.
  • There will be a climate leaders’ summit in the USA on Earth Day (in April 2021).
  • The Major Economies Forum will be re-convened.
  • A new Special Presidential Envoy is appointed (former Secretary of State John Kerry).
  • The USA’s process to address the “Nationally Determined Contribution” (NDC) called for in the Paris Accord is now underway.
  • The National Intelligence Estimate on security implications of climate change is to be prepared by the Director of National Intelligence for the White House.
  • The White House Office of Domestic Climate Policy is established (headed by former US EPA Administrator Gina McCarthy).
  • Important: the National Climate Task Force is created; this brings the top leaders of the Federal government across 21 agencies (all Cabinet officers) to implement the president’s climate agenda.
  • Clean energy job creation is an important objective – this to be part of the “Build Back Better” initiatives.
  • “Made in America” for manufacturing is a pillar; the Order directs all agencies to buy “carbon-pollution-free” electricity for all government facilities and clean, zero-emission vehicles to help create good paying, union jobs and stimulate clean energy industries.

There’s more – rebuilding infrastructure (focus on “green” here); advancing conservation; reforestation; revitalizing communities left behind as the transition to clean energy displaced workers in fossil fuel extraction and processing; developing approaches to secure “environmental justice” for communities; spurring economic growth; bringing science back into climate change discussions; creating a Presidential Council of Advisors on Science and Technology.

The White House is now reviewing more than 100 of the Executive Orders of the prior administration to reinstate protections for air, water, land and communities.

This is sweeping and presents abundant opportunities and risks for both the corporate community and the capital markets. (As the EOs were being announced, General Motors unveiled its plan to “go all electric” in vehicle manufacture by 2035!)

We have prepared a Resource Paper to explain and explore the many implications for the Biden-Harris Administration moves to address the climate crisis. You can download the paper here: https://www.ga-institute.com/research-reports/resource-papers/biden-harris-white-house-actions-a-ga-resource-paper.html

In the days ahead we will be preparing numerous commentaries for this blog on the many (!) developments aligned with, and supporting, the presidential moves of this week. Stay Tuned!

Looking to 2021- Michael Bloomberg Advises: What President Biden Should Do

December 31, 2020

by Hank Boerner – Chair & Chief Strategist – G&A Institute

This is my last post of 2020 – indeed, a chaotic, challenging and tumultuous year for corporate managers and investment professionals.  And the rest of us!

At this time last year we were looking forward to continued peace and economic growth. That new virus spreading infection inside China was a blip on the horizon for many people. 

Most of us did not foresee the rapid spread of this dangerous virus to all corners of the globe, and the resulting tragedy of the immensity of deaths, as many families lost loved ones,  We were not adequately prepared for the resulting economic upheaval posing serious challenges to leaders in the private sector, public sector and capital markets.  At year end we are still working our way through the mess. 

And so we come the start of a new calendar year — 2021! — with all of humanity wishing for better days! 

Many eyes are on the United States of America, the world’s largest economy, which will soon have new leadership in the White House and the important arms of the federal government, the cabinets. Those are State, Treasury, Defense, Interior, Energy, Labor, Commerce, and other departments as well as in key agencies such as the Securities & Exchange Commission, and the Environmental Protection Agency (US EPA).

The better days could start on January 20th when a new President and Vice President are sworn in and a new Congress will already be in office (the 117th Congress will convene on January 5th with 100 Senators and 435 Members of the House of Representatives). 

And there is much work for all of those leaders to do!  There are especially high expectations of soon-to-be President Joe Biden and Vice President Kamala Harris…and the men and women they will appoint or nominate (for U.S. Senate confirmation) to help in leading the USA forward, working in cabinet offices or federal agencies. .

President Biden has said that his will be the “climate change administration” and that meeting the challenges posed by climate change is a top priority.

What should / can be done as these leaders settle into the office?

Mayor Michael Bloomberg, head of the Bloomberg LP organization — he with the loudest megaphone to reach and influence capital markets players, government leaders, NGOs, climate activists, multilateral organizations leaders, and many more leaders and influentials — has some specific suggestions for the Biden-Harris team as they assume office.

Here are some of the highlights of Mayor Mike’s suggestions:

  • “Biden Needs to Lead on Climate Reporting” (the headline of the editorial with the suggestions – there’s a link below).
  • Biden’s pledge to rejoin the Paris Agreement should be carried out and this will send a strong signal to the world. But that will take us back four years (when Secretary of State John Kerry led the US delegation in joining the agreement).
  • To move forward President Biden on his first day in the Oval Office should begin the effort to bring together the leaders of the G-20 nations (the world’s leading economies*)  to endorse a mandatory standard for global businesses to measure and then report on risks all nations face from climate change.

There are mechanisms and players in place to help make rapid progress.

Remember that Michael Bloomberg heads the TCFD – the Task Force on Climate-related Financial Disclosures — which was formed by the Financial Stability Board (FSB) —  the board a creation of the G20 nations after the disaster of the 2008 financial crisis. 

The concept of the FSB is to serve as a sounding board and think tank for the leading economies of the world to address among critical issues risks to the financial system. 

This is the organization’s official description: “The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system.  The FSB promotes international financial stability; it does so by coordinating national financial authorities and international standard-setting bodies as they work toward developing strong regulatory, supervisory and other financial sector policies. FSB fosters a level playing field by encouraging coherent implementation of these policies across sectors and jurisdictions.”

This means that the FSB, working through its member organizations, seeks to strengthen financial systems and increase the stability of international financial markets. The policies developed in the pursuit of this agenda are then implemented by jurisdictions and national authorities.  

Members include the US Department of the Treasury, the Federal Reserve System, and the Securities & Exchange Commission.  

The TCFD is a creation of these and other members. 

The TCFD issued recommendations for companies to measure, manage and report on risks and opportunities related to climate change — which Mayor Bloomberg sees as key driver in directing capital to companies with smarter, more responsible leadership that protect and company and seize opportunities related to climate change.

The TCFD guidelines have been adopted or endorsed by 1,000-plus companies and organizations in 80 countries on six continents, Michael Bloomberg pointed out in his editorial.  Sovereign members of the G20 are among the endorsers — Japan, Canada, France, New Zealand, the United Kingdom. 

And so the United States of America — the world’s largest economy — could serve as the catalyst, the unifier, the key player in the drive for adoption of global standards under Biden-Harris leadership. 

This would serve to bring a coordinated effort to deal with the challenges posed by climate change on a global basis, help to develop the right regulations for the world’s family of nations to develop uniform, comparable regulations for climate change disclosure and reporting, and remove uncertainty for corporate leaders and their providers of capital. 

Michael Bloomberg, whose own company’s widely-used platform (“the Bloomberg”) carries volumes of ESG data, tapping his own knowledge of ESG data, advises us that such data must be useful, comparable, and not be confusing (as is frequently now the case). 

Even with the increasing flow of ESG data, the world’s financial markets, Michael Bloomberg points out, operate in the dark today in terms of climate change – which he sees as the biggest risk to the global economy.

Michael Bloomberg is urging the Biden-Harris team to take action “…to help to develop a single global disclosure framework for climate risks that helps drive a faster and more effective response to climate change”.

Or else we will continue “with competing frameworks that make it harder for investors and businesses to identify risks, leading to more economic harm and lower progress”.

Mayor Bloomberg’s summing up his views:  “Climate disclosure is not flashy but it’s one of the important tools we have to speed progress on prevent climate change and economic hardship…which could dwarf the effects of the financial crisis.  The faster we make [disclosure] standard practice globally, the safer and stronger the economy will be.  The US can help lead the way.”

There’s the complete editorial and more perspectives shared at bloomberg.com/opinion.

And so we end 2020 (farewell!) and begin a new year, filled for many people with great hope and promise for better days.  Stay Tuned!  And best wishes to you for the new year.  

#  #  #

P.S. Michael Bloomberg was also the Chair of the Sustainable Accounting Standards Board (SASB) Foundation, 2014-2018 and remains supportive of the organization.

You can follow Michael Bloomberg on his web site:  https://www.mikebloomberg.com/

*  The G20 nations are the USA, UK, Germany, France Italy, Japan, Canada (these are the G7); Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey.  Plus “guests” – Spain; two African countries; the International Monetary Fund; World Bank; United Nations; the World Trade Organization; the Financial Stability Board (all attend G20 summits).  

To understand the influence of the Financial Stability Board, here are the members: https://www.fsb.org/about/organisation-and-governance/members-of-the-financial-stability-board/

The members of the Task Force (TCFD) and other information: https://www.fsb-tcfd.org/about/

Looking Back to Look Ahead – The Promise of Biden-Harris Administration to Return to the Hopes of Action on Climate Change Issues

November 9, 2020

By Hank Boerner – Chair & Chief Strategist – G&A Institute

For almost four l-o-n-g, long years we have been watching – and decrying! – the antics of the Trump Administration in the attempt to roll back vital federal environmental protections that have been put in place (and protected) by elected representatives of both parties over five decades.

It was President Richard M. Nixon – a Republican and conservative leader – who signed the National Environmental Policy Act of 1969 (NEPA) into the law of the land. NEPA was established by the 91st Congress and became law on January 1, 1970.

This also established the President’s Council on Environmental Quality. What flowed thereafter was important…

…the Environmental Protection Agency (US EPA) was created;
The Clean Air Act was enacted into law;
The Clean Water Act soon followed; and then
Toxic Substances Control Act (TSCA);  and 
…”Superfund” for clean up of contamination (actually, CERCLA-Comprehensive Environmental Response, Compensation and Liability Act);  and
Emergency Planning and Community Right-to-Know Act;  and 
Endangered Species Act;  and
Federal Insectiside, Fungicide, and Rodenticide Act; and 
Energy Policy Act; and
Chemical Safety Information, Site Security and Fuels Regulatory Relief Act;
…and much more!

Beginning almost immediately as the Trump Administration took charge of the EPA and other cabinet agencies, these historic legislative achievements were being undermined and protections whittled away.

There will be new environmental overseers coming to town in 2021 and the great hopes pinned on the Biden-Harris Administration include rebuilding the important rules, oversight mechanisms and enforcement of the laws/rules by EPA, Interior, Energy and other agencies.

The New York Times today outlined the first steps that could be taken – issuance of presidential Executive Orders (EOs) and President Memoranda that would undo the same mechanisms employed by President Trump and EPA political leaders to undermine environmental protection measures.

We read in — “Biden Will Roll Back Parts of the Trump Agenda With Strokes of a Pen” – that on Day One, we can expect action on climate change, writes Michael D. Shear and Lisa Friedman.

That starts with notice to the United Nations that the U.S.A. will rejoin the Paris Agreement.

The move to revoke Trump era EOs and re-issue Obama-Biden Administration orders can be immediate; or, President Joe Biden in 2021 can issue new orders along the same lines of prior EOs addressing climate change issues.

Important: The new Executive Orders would create important policies for the heads and rank and file members of the departments – Defense, EPA, Labor, Commerce, Interior, SEC, and many others that in some way directly or indirectly are affected by climate change.

Attitudes do matter – and Presidential Executive Orders to heads of agencies really matter!

2021 is looking like climate change matters will move to front-and-center on the public policy agenda. The Financial Times today pointed out that candidate Joe Biden set a policy of having a target to reach zero carbon

While Donald Trump led the effort to isolate the United States from world affairs, China moved to pledge net zero by 2060 and Japan and South Korea set net zero targets.

With the USA back on board, real progress can be made toward meeting Paris Agreement goals. Exciting to consider: The United States of America as once again a leader in the drive to make the world a safer, healthier place for billions of us!

For a reminder of the Trump moves in 2017 to reverse a half-century and more of environmental protection, here’s my March 2017 look at what was underway just two months into the new administration, with a new leader (Administrator Scott Pruitt) at the helm of the EPA.

Let’s go back to March 2017 – Just two months into the Trump Administration – with bad news on climate change all around!

https://ga-institute.com/Sustainability-Update/climate-change-nah-the-deniers-destroyers-are-work-white-house-attempts-to-roll-back-obama-legacy/


Cradle-to-Cradle: Method Case Study

Guest Column by Lama Alaraj – Analyst-Intern, G&A Institute

We live in a world where our society is run through consumerism and capitalist gains. As a result, this system has had adverse effects on the health of our environment.

One of the major industries in our economies is cleaning products, where demand is unlikely to decrease. Consumer behavior influences the supply of cleaning products in our economy, and as a result there is a rise in demand for the ‘green products’.

As consumers it is important for us to know what hazardous chemicals we are bringing into our homes. In this industry transparency is not enough, as the average human cannot understand chemical labels (citation, Grotewohl, 2018 – see bibliography at end).

I believe that we need more companies to shift their business model to be more of a commitment towards achieving holistic sustainability.

There are many different strategies and business models that companies can apply to experience financial growth, with sustainability and the environment in mind.  The focus of this essay will be on the cradle-to-cradle approach — a more sustainable business model that has proven to work in the cleaning products industry.

The cradle-to-cradle approach is a system that moves away from the conventional linear manufacturing process, which focuses on taking raw materials to produce products that will end up disposed, towards a circular approach by closing the loop in production and eliminating waste.

• This process requires businesses to change their business model towards one that incorporates conscious sustainable thinking at the core (Brennan et al, 2015).

• The approach talks about two types of metabolism: biological and technical (Severis et Rech, 2019).

• Each has corresponding nutrients — ‘biological nutrients’ — are materials that can be safely returned to the biosphere, and ‘technical nutrients’ are manmade materials that can be reused (Severis et Rech, 2019).

Goal: Reuse or Return to the Environment

The goal of this approach is to create products that can either be reused or return to the environment (such as though composting) and therefore eliminating the concept of waste at the end of the life cycle of a material which is related to the common cradle-to-grave operation (Severis et Rech, 2019).

An important term that was a prelude to the birth of the cradle-to-cradle approach is the strategy of being eco-effective. This strategy is defined as using resources that maximize the benefits of a product or a service in order for the material to have a continuous life cycle (Brennan et al., 2015).

For the cradle-to-cradle approach to be successful and sustainable in its application by a business, it needs to adhere to three guidelines: waste equals food, use renewable energy, and celebrate diversity (Brennan et al, 2015). For example:

(1) Waste equals food is essentially where the concept of upcycling comes from. By not creating more waste, companies can look at resources that have already been used and recycled, and utilize these materials to their maximum potential.

This guideline pushes businesses to be creative and innovative, enabling them to design a product that has multiple life cycles, and does not lose its value or superiority when it is recycled into something different (Brennan et al, 2015).

(2) The second guideline, use of renewable energy, pushes firms to switch from fossil fuels and to generate clean energy through the use of solar, wind, hydro or biomass technologies. This fits the framework of using what is naturally present and contributes to a holistic approach (Severis et Rech, 2019).

The final approach is about incorporating diversity within the business, through innovation. As part of this guideline firms are required to design products that “support biodiversity, socio-cultural diversity and conceptual diversity” (Ankrah et al.,2015).

This encourages business leaders and their firms to look outside the box and design products that avoid environmental pollution and strive for maximum material reutilization.

Cradle-to-Cradle Certification

To encourage and enable business to apply the cradle-to-cradle approach, the Cradle-to-Cradle certification was established in 2005. Since then, 200-plus companies have produced products that are certified (Source: Cradle to Cradle Products Innovation Institute, 2020).

The rise in Cradle-to-Cradle certified products is influenced by increased environmental awareness, growing consumer demands for green products and business financial savings.

According to research through the Ellen MacArthur Foundation, businesses in the European Union could save up to US$630 billion a year by switching to a cradle-to-cradle model and operating through a circular production system (Cradle-to-Cradle Products Innovation Institute, “CCPII” – 2020).

For instance, Shaw industries, a global carpet manufacturer, switched to a cradle-to-cradle business model in 2007 and as part of this switch, Shaw achieved a 48% increase in water efficiency, and improved energy efficiency, both of which have major environmental benefits (CCPII, 2020).

Financial benefits of this approach allowed Shaw to save US$2.5 million in 2012 alone (CCPII-2020). The benefits of this approach can be vast and are realized through economic, social and environmental gains.

One economic benefit is cost reduction — savings achieved through the reuse of materials, and resource efficiency by saving on water and energy spending (CCPII-2020).

Moreover, these benefits are eliminating toxic waste and pollution, and giving more than one life cycle to a product, through upcycling the material and creating something different in order to operate through environmental awareness and positive sustainable practices (Brennan et al, 2015)

Looking at Cleaning Products

Cleaning products typically contain many hazardous chemicals that can contaminate our groundwater, lakes and oceans, and lead to the formation of algal blooms which threaten marine life. Not only do these chemicals harm our ecosystems, they can also have adverse effects on humans, if exposed to high levels of these chemicals (Grotewohl, 2018).

This is where Method — a United States-based company — decided to take matters into their own hands. They are the “People against dirty”, their infamous slogan is an homage to their commitment against traditional cleaning products that are harmful to our environment, and us.

Method is one of the first green cleaning companies to have a full line of cradle-to-cradle certified products. The company uses non toxic, and full biodegradable formulas, ensuring their products adhere to the unique process of cradle-to-cradle for maximum reutilization (Ryan et al, 2011).

This sophisticated and innovative company values renewable energy at the core of their production process, ensuring to me the renewable energy guideline of cradle-to-cradle fundamentals.

The firm has even opened the first LEED-platinum -certified plant in their industry (Chow, 2015). Everything at this factory is made on site, a one-stop shop approach. The plant runs on wind and solar energy; they have utilized the space in an environmentally-conscious way by allowing Gotham Greens to use the plant’s entire rooftop as a greenhouse in order to harvest organic produce for the local markets and communities (Chow, 2015).

In this way Method demonstrates that the management thinks beyond profitability of the end product, and also looks to maximize every space in their factory and seek inclusivity and to benefit society through their community centered approach, meeting both the renewable energy and diversity guideline of the cradle-to-cradle approach.

The process of recycling actually produces toxins and pollution, so companies encouraging their consumers to recycle is not enough because they are not breaking the system of waste, just contributing to it (Ryan et al., 2011).

Competitors in the cleaning industry typically use white PET to package their goods, as a way to brand their green commitment. However, this type of plastic does not filter through recycling plants and so ends up in landfills (Ryan et al., 2011).

Method’s leaders did their homework, and rather than sticking to traditional industry trends, they designed packaging that is 100% recyclable and made from Post Consumer Recycled PET (Ryan et al., 2011).

In addition to Method’s cleaning materials being sustainably sourced, their packaging is made of 100% recycled bottles, reducing waste in their production process. By upcycling its waste, Method uses up to 70% less energy to manufacture its products (Ryan et al., 2011). Moreover, the plastics used are carefully chosen to ensure they can be recycled and reused, operating a closed loop production system.

For Method, waste is truly fuel, upholding the first guideline in the approach.

Looking at Laundry Detergents

Laundry detergent on the commercial scale is typically water intensive (“80% of detergent is water”), and causes a lot of waste (Ryan et al., 2011). Conventionally, it is packaged to make consumers believe that more is better, so consumers use more detergent than needed (like an optical illusion of sorts).

The first breakthrough in innovation a better detergent was in 2004, when Method launched their ‘three times concentrated’ formula, which uses a lot less water and a lot less energy to clean, making it more environmentally friendly than conventional detergents (Ryan et al., 2011).

This sparked a competitive race in the industry, and major names in the game launched their own versions of concentrated detergents (Ryan et al., 2011). Method creators did not patent their formula, rather they wanted to encourage their competitors to produce more environmentally-friendly and cleaner detergents (Ryan et al., 2011).

In 2010 Method made waves again, and launched their eight times concentrated detergent, and this time it became the first detergent to receive an official cradle-to-cradle certification for its innovative design, non toxic, biodegradable and reduced water formula (Gittell et al., 2012).

Moreover, because it does not require the same amount of energy to clean clothes, it does not require the same amount of detergent either — proving to be resource efficient.

The product is dispensed through a pump, is a lot smaller, and weighs less. This demonstrates the diversity aspect of cradle-to-cradle, because the product used design as a way to reduce excessive and wasteful amounts of detergent that we as consumers have mindlessly done, and by reducing we are benefiting the environment (Gittell et al., 2012,).

Looking Beyond Traditional Business Models

The cradle-to-cradle approach aims to push beyond traditional business models that lean on eco- efficiency policies and towards eco-effective strategies. Typically eco-efficiency relies on the three Rs: reduce, reuse, recycle, and operate on zero waste strategies (Brennan et al., 2015).

With this mindset there are some problems that can arise, as this is still adhering to a linear business model. For instance, with recycling, the product loses its value, and hence its life cycle is significantly shortened. We need to do better than that as businesses and go from downcycling, to upcycling, from eco-efficient, to eco-effective.

Method in my view is a cradle-to-cradle success story and I think it is a role model for companies to take that plunge. Since its conception, as a small two person company, Method has grown to be a US$100 million dollar company (Gittell et al., 2012).

Management has never broken the commitment to true sustainability, and has proved that having a cradle-to-cradle business strategy can result in positive environmental impacts & commercial growth. From breaking conventional trends in the industry, to pushing their giant competitors to adopt the three times cycled detergent, i see Method as a force to be reckoned with.


# # #

Lama Alaraj is a graduate of Dalhousie University (Nova Scotia, Canada) with double major in economics and international development studies. She is a marketing consultant for Web.com. She was an analyst-intern with G&A Institute and was a key member of the team producing the S&P 500 Index annual research on sustainability reporting, and was very much involved in the G&A Institute’s GRI Data Partner duties.



Link: https://www.ga-institute.com/about-the-institute/the-honor-roll/lama-alaraj.html

Bibliography

Ankrah, N. A., Manu, E., & Booth, C. (2015, December). Cradle to Cradle Implementation in Business Sites and the Perspectives of Tenant Stakeholders. Elsevier, 83(Energy Procedia), 31-40. https://www.sciencedirect.com/science/article/pii/S1876610215028581#abs0005

Brennan, G., Tennant, M. and Blomsma, F. (2015). Chapter 10. Business and
production solutions: Closing Loops & the Circular Economy, in Kopnina, H. and Shoreman-Ouimet, E. (Eds). Sustainability: Key Issues. Routledge: EarthScan, pp.219-239

Chow, L. (2015, July 29). Gotham Greens + Method = World’s Largest Rooftop Greenhouse Coming to Chicago. EcoWatch. Cradle to cradle products innovation institute. (2020). Impact Study Executive Summary. www.c2ccertified.org. https://www.c2ccertified.org/impact-study

Gittell, R., Magnusson, M., & Merenda, M. (2012). The Sustainable Business Case Book (Vol. Chapter 6). Saylor Foundation. https://2012books.lardbucket.org/books/sustainable-business-cases/index.html

Grotewohl, E. (2018). Chapter 830: Cleaning Products Are Coming Clean. University of Pacific Law Review, 49(2). Scholarly Commons. https://scholarlycommons.pacific.edu/cgi/viewcontent.cgi?article=1161&context=uoplawreview

Ryan, E., Lowry, A., & Conley, L. (2011). The Method Method: Seven Obsessions That Helped Our Scrappy Start-up Turn an Industry Upside Down. Penguin.

Severis, R., & Rech, J. (2019). Cradle to Cradle: An Eco-effective Model. In Earth and Environmental Science Reference Module Physical and Materials Science. Springer, Cham. https://link.springer.com/referenceworkentry/10.1007/978-3-319-71062-4_62-1

Celebrating Highlights Issue #500 – And Unveiling a New Design

October 16, 2020

by Hank Boerner – Chair & Chief Strategist – G&A Institute

Celebrating Highlights issue #500 – this is a landmark achievement, we will say, for this is also the tenth anniversary year of publishing the G&A Institute’s weekly newsletter (G&A Institute’s Sustainability Highlights).  As you will see in reading #500, we are also introducing an enhanced format intended to make the newsletter easier to read or scan as well.

Our G&A Institute’s Sustainability Highlights newsletter is designed to share timely, informative content in topic/issue “buckets” that we think will be of value to you, our reader. So much is happening in the sustainable investing and corporate sustainability spaces these days – and we are working hard to help you keep up to date with the important stuff!

Publishing the Sustainability Highlights newsletter is a team effort here at G&A.

Our company was formed in late 2006 and among our first efforts, Ken Cynar, then and now our Editor-in-Chief, began the daily editing of the then-new “Accountability Central” web site with shared news and opinion. The focus was (and is) on corporate governance, environmental matters, a widening range of societal and corporate-society issues, SRI investing, and more.

Two years later we created the “SustainabilityHQ” web platform – Ken manages content for both platforms today.

Back in those early days there was not the volume of ESG news or opinion pieces that we see today. Whenever we “caught” something of note the rest of the G&A team would quickly share the item with Ken.

Our team had worked together (some for a number of years) at the former Rowan & Blewitt consultancy, specialists in issue management, crisis management and strategic communications for the fortunate Fortune 500s.

That firm was acquired by Interpublic Group of Companies and after 7 years the New York City team created G&A Institute to focus on corporate sustainability, responsibility, citizenship and sustainable & responsible investing.  All of us came equipped with a strong foundation of issue management, risk management, critical issues managements, and corporate communications experience and know-how.

“ESG” had just emerged as a key topic area about the time we began our publishing efforts and soon we saw a steady flow of news, features, research reports, opinions & perspectives that we started sharing.

We had worked on many corporate engagements involving corporate governance, environmental management, a range of societal issues, public policy, and investor activism.  Here it was all coming together and so the G&A enterprise launch to serve corporate clients!

By 2010, as we emerged from the 2007-2008 financial markets debacle, then-still-small-but-solid (and rapidly expanding) areas of focus were becoming more structured for our own information needs and for our intelligence sharing, part of the basic mission of G&A from the start. And so, we created the weekly Highlights newsletter for ease of sharing news, research results, opinion & perspectives, and more.

It is interesting to recall that in the early issues there were scant numbers of corporate CSR or sustainability etc. reports that had been recently published (and so we were able to share the corporate names, brief descriptions of report contents, links of those few reports).  That trickle soon became a flood of reports.

But looking back, it was interesting to see that at the start of the newsletter and our web sites, there were so few corporate sustainability / responsibility reports being published we could actually post them as news for readers. Soon that trickle of corporate reports became a flood.

A few years in, The Global Reporting Initiative (GRI) invited G&A to be the data partner for the United States and so our growing team of ESG analysts began to help identify and analyze the rapidly-increasing flow of corporate reports to be processed into the GRI’s global reporting database.

Hank Boerner and Lou Coppola in the early days worked closely with Ken on the capturing and editing of content.  Lou designed the back end infrastructure for formatting and distribution.

Amy Gallagher managed the weekly flow of the newsletter, from drafts, to layout and then final distribution along with the coordination of a growing body of conference promotions with select partner organizations.

And now with a solid stream of content being captured today, all of this is a considerable effort here at G&A Institute.

Ken is at the helm of the editorial ship, managing the “AC” and “SHQ” web platforms where literally thousands of news and opinion are still hosted for easy access. He frames the weekly newsletter.

Today Ken’s effort is supported by our ESG analysts Reilly Sakai and Julia Nehring and senior ESG analyst Elizabeth Peterson — who help to capture original research and other content for the newsletter.

Hank and Lou are overall editors and authors and Amy still manages the weekly flow of activities from draft to distribution.  Our head of design, Lucas Alvarez, working with Amy created this new format. As you see, it is a team effort!

There is a welcome “flood” — no, a tidal wave! — of available news, research and opinion being published around the world that focuses on key topic areas: corporate sustainability, CSR, corporate citizenship, ESG disclosure & reporting, sustainable investing, and more.  We capture the most important to share in the newsletter and on our web sites.

We really are only capturing a very tiny amount of this now-considerable flow of content, of course, and present but a few select items in the categories below for your benefit.  (The target is the three most important stories or items in each category.)

Much more of the ongoing “capture effort” is always available to you immediately on the SustainabilityHQ web platform (see the “more stories” links next to each category of headlines).

We hope that you find Sustainability Highlights newsletter of value. It’s a labor of love for us at G&A, and we would like to get your thoughts and feedback …including how we can continue to improve it. Thanks for tuning in all of these years to our long-term readers!

TOP STORIES

As example of the timely news of interest for this week we offer these (two) commentaries on the Sustainability Development Goals (SDGs).  We are five years in/with 10 years in which to make real progress…where do you think we are headed?

As students and faculty head back to campus – there’s discussion about “sustainability” and “campus”:

 

Rising Heat & Humidity, Rising Sea Levels, Up & Down Shifts in Crop Yields, More Large Fires, Huge Human Migration Within the United States -– What We Are Learning Today

September 24 2020

by Hank Boerner – Chair & Chief Strategist – G&A Institute

There is so much going on in the global sustainability space that we could draw an apt analogy – it’s “like drinking water not out of a straw but a fire hose!”

Every week our team seeks out the news, feature and research items that will help you stay informed on developments in corporate sustainability and CSR, sustainable investing, the actions of governments and civil society leadership, activists, academics & researchers…and more.

For the past two or three years the pace of these developments has accelerated and so created a long list of many “possibilities” to share with you.  Sometimes, certain news jumps up and shouts at us from the print or digital page.

Example:  This week we see a powerful accounting of the impacts of climate change as assembled by ProPublica, an independent, nonprofit journalism organization focused on the major issues of the day.   The collaborating journalists – at ProPublica and The New York Times with support from the non-profit Pulitzer Center — focused on “the compounding calamities of climate risk” and the projected impact on the continental U.S.A. over the coming decades.

The issues “stack on top of one another”, they write.  Such as rising heat, excessive humidity, oceans rising, very large fires, crop failures, economic damages, and more…scary projections for the 2040-2060 timeframe.   (That is starting only 20 years, or 240 months, just 1,000+ weeks away!)

ProPublica worked with data from the Rhodium Group, which when presented in the context of the report, tell a story of warming temperatures, and changing rainfall that will drive agriculture and temperate climates from south to north, as the sea levels rise and vast amounts of coastlines “are consumed” and dangerous levels of humidity “swamp the Mississippi River Valley”.

All of this will profoundly interrupt the way that we in this, the world’s largest economy, will live and farm and work later in this century.  This could be an era to be marked by mass migration within the U.S.A., far outpacing the dramatic “Great Black Migration” with large populations moving from southern states to the north, profoundly reshaping this Land.

The data is presented in maps and county-by-county review; you can in the visuals presented see how the temperate zone marches north and more…for corn and soy production, harvests will decrease and increase, depending on location in the country.

Economic impact? (Serious projections to consider today while we experience dislocation now due to the Coronavirus pandemic include rising energy costs, lower labor productivity, poor crop yields, increase in crime and more.

Which counties will rise and which, fall?  The maps tell the story.

This reportage was so important and timely that the NY Times published a comprehensive wrap up this weekend in the Sunday magazine (reaching well beyond two million print and digital subscribers).   We present this important reportage for you in the Top Stories.

Timeliness:  This is also Climate Week, with important digital and some physical meetings around the world to focus on climate change challenges. We’re sharing some of the coverage of that as well.

 

Top Stories