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| Doing Well by Doing Good Novozymes Head of Sustainability Explains How and Why
One of the corporate sustainability journeys that we point out in our conversations with corporate managers is Novozymes, the Danish biotech company. The “do well by doing good” global business enterprise has an interesting history and a rich legacy of addressing societal challenges. Today, Novozymes leverages its technologies to address “challenges and solutions” in various industries and sectors (including energy, agriculture, pharma products, chemicals, and more). The company’s head of sustainability — Claus Stig Pedersen — authored an interesting commentary on the Huffington Post platform: “Business as a Force For Good.” It’s a solid read for company managers whose firm is embarked on the sustainability journey, and especially for those managers working to assemble the resources to begin the journey. When the UN Sustainable Development Goals (SDGs) were in draft form and nearing completion, the Novozymes team was already adopting certain of the goals and applying them to the business model. Author Pedersen notes in his commentary: “With all the global challenges today, we need more companies to rethink tomorrow. How can they better drive their business using the new SDGs as a guide? What impacts will this have on society and their bottom line? His answer: Look at the sweet spot where people, planet and profit interconnect and deliver solutions for better lives in a growing world. In 2014, Novozymes used the draft goals (there are 17 in all with 169 targets) as inspiration when developing its new long-term strategy and company purpose. You can check out highlights of the Novozymes approach online. And be sure to read the head of sustainability’s comments in our Top Story. The G&A Institute team is working with corporate clients to help the executive team and managers understand the critical nature of the UN Sustainable Development Goals and to adopt selective SDGs that fit the company’s mission as important and integral elements of the corporate sustainability (or responsibility or citizenship) efforts. G&A EVP Lou Coppola is working with the Global Sourcing Council to educate and inform supply chain managers of the importance of the SDGs (in the global supply network) – let him know if you would like more information on that effort Top Story Business-Driven Sustainability Will Change the World Sustainability in Focus SGX launches sustainability indices UN Resolutions passed on Sustainability Agenda and Paris Climate Agreement Are ingredients derived from food wastes the ultimate sustainability advance’ Like to get more bang for your sustainability-boosting buck? Here’s how. Large-Growth Medalists at the Extremes of Sustainability Avison Young takes steps to integrate sustainability into its services Opinon: Making sustainability a consideration in trade Consumers want to know: What does sustainability really mean? Is Competition Between Sustainability Reporting Standards Healthy? ESG Issues & Players Shareholders and public entitled to full disclosure on climate change issues Extreme weather increasing level of toxins in food, scientists warn Is the future of business a company without workers, managers, or a CEO? Harvard Scientist Engineers Bacterium That Inhales CO2, Produces Energy Asset Managers, US Pension Funds, Opinion: Why socially responsible investing is financially irresponsible Malaysia’s finance ministry appoints new 1MDB board of directors
Watching the Watchers
Headquarters: New York, NY ESG/Sustainability Focus: Yes, focused on sustainability and global sourcing OVERVIEW/MISSION The Global Sourcing Council states that its mission is to “…promote an exchange of ideas and information among businesses, trade organizations, government agencies, non-profit organizations, and academia; to discuss and define practices in global sourcing; and to encourage progressive economic growth leading to increased trade, investment and social good, all with an aim to increase knowledge, deepen trade relations and broaden commercial and cultural ties among nations.” BACKGROUND STRUCTURE METHODOLOGIES / OPERATIONS Offering an open forum for discussing “social, economic and political effects of global sourcing arrangements.” The openness and collaborative aspects of GSC’s activity enables it to draw diverse discussants from around the world and develop ideas about best practices. GSC hosts speakers, conferences, and Webinars, and makes annual 3S Awards, recognizing sustainable and socially responsible sourcing. Engaging multinational companies “to establish strategic, harmonized outsourcing relationships with the various countries’ trade organizations.” Publishing newsletters and disseminating other information about global sourcing. GSC maintains an online Knowledge Center with links to publications about sourcing and related issues. GSC also plans to offer a certification program aiming to “provide tools for implementing principle of socially responsible sourcing (SRS) and to bring social responsibility into the core of outsourcing profession.” News Sweeps
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G&A Institute Sustainability Update™ Three Takeaways From The 5th Annual GRI Conference in Amsterdam (May 2016) Investors Really Do Care About Sustainability – There’s a Gap Between Them and Corporate Executives Will We See Mandated Corporate Reporting on ESG / Sustainability Issues in the USA? _______________________________ Governance & Accountability Institute Service Highlight _______________________________ _______________________________
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Governance & Accountability Instiute is the “Sustainability Headquarters™” for clients in the corporate, investment, public and social sectors. Based in New York, G&A is a for-profit consulting organization providing a range of value-added strategies, services and resources related to ESG & sustainability to clients in the corporate and capital markets communities. The G&A services portfolio includes: SustainabilityHQ™ is managed and published by Governance & Accountability Institute, Inc. |
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Doing Well by Doing Good – Novozymes’ Head of Sustainability Explains How and Why
June 10, 2016
