Monthly Archives: January 2020

G&A Institute Now Accepting Applications for Spring & Summer 2020 Sustainability Reports Research Analyst Internship

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G&A’s non-compensated remote internship opportunity is for qualified students interested in learning more about corporate sustainability and corporate ESG performance (“Environmental, Social, Governance”) issues.

G&A Institute Interns during their remote internship learn and master important elements about the Global Reporting Initiative (GRI) Standards for sustainability reporting, along with other common reporting frameworks used by investors, such as, CDP, RobecoSAM CSA (DJSI), SASB, IIRC, the UN SDGs, and other frameworks. An example of topics and issues of discussion and research during this internship include the concepts of materiality, stakeholder engagement, external assurance, reporting balance, comparability, and many others. All of which is valuable knowledge and experience that can be applied in your studies and future careers

The work will support G&A’s pro-bono (uncompensated) relationship as the Global Reporting Initiative (GRI) data partner for the USA, UK, and Ireland, along with contributing to associated research on sustainability reporting trends made available to the public with recognition of the intern’s contributions to the research.

GRI’s reporting framework and standards are the most widely used in the world for these types of reports. However, G&A interns will analyze all types of sustainability reporting and frameworks; beyond the GRI framework.

This is a rapidly growing area of interest to Wall Street, investors and various corporations from all sectors and industries. In 2019, G&A interns contributed to G&A’s annual research publication tracking sustainability reporting trends and found that 86% of S&P 500 companies were publishing sustainability reports, up from 20% in 2011! Additionally, G&A 2019 interns team contributed to G&A’s inaugural research tracking sustainability reporting trends of the Russell 1000, finding 60% of Russell 1000 companies are publishing sustainability reports.

Opportunity:  

  • Discover the ins and outs of the world’s leading sustainability framework (GRI)
  • Learn to analyze data and interpret content from GRI sustainability reporting
  • Gain insights into the rapidly growing field of ESG from industry-experts
  • Assist in team research supporting G&A publications; public recognition will be given to all interns involved in research and publications

Internship Identification:  Sustainability Report Research Analyst (supporting G&A’s GRI Data Partner relationship)

Virtual Location: Work is done remotely – at your own location with a flexible work schedule.  Initial training via virtual meeting tools. There will be opportunities to attend industry networking and training events with G&A’s network of event and training partners.

Time Period & Commitments: Internship position requires approximately 10 hours per week and runs Spring 2020 through Summer 2020.  The timing of the work is flexible for a majority of the time required and can be done remotely. 

Compensation: This is an unpaid learning experience only internship.

MORE ABOUT THE INTERN POSITION
In this role, you will work as part of a team to analyze sustainability reports for inclusion in the largest global database of sustainability reports, the GRI’s Sustainability Disclosure Database (database.globalreporting.org).

Learning to read, analyze, use and structure data from reports using the GRI Standards, GRI G4, GRI-Reference, as well as NON-GRI corporate and institutional reports, will comprise the majority of this assignment.  The research will also contribute to several published research reports on various trends in sustainability reporting which are made public and widely referenced by media, academics, business, capital markets players and other important sustainability stakeholders.

Student(s) selected will have the opportunity to experience a fast-paced, highly-adaptive, mentoring culture in a small but growing company with a unique niche. This is a hands-on position with considerable learning opportunity for those headed into corporate responsibility / sustainability / citizenship or sustainability / impact investment careers.

G&A interns get public recognition for their work in published reports, on G&A’s web platforms, blogs, and public press releases.

G&A’s is proud of its Intern Alumni and are happy to share their success with the world, as they accomplish great things through their careers navigating the way to sustainability. 

To see what past G&A Interns have been doing (and their backgrounds) check out G&A’s Honor Roll at http://www.ga-institute.com/about-the-institute/the-honor-roll.html  

INTERNSHIP CANDIDATE REQUIREMENTS

  • Must be in senior year of Bachelors program or in a Masters program with major/studies focused on business, capital markets, ESG, environmental and/or sustainability issues and topics.
  • Demonstrate strong background / keen interest or past work experience in ESG and sustainability-related issues / topics.  
  • Having a basic understanding of business and the capital markets is mandatory.
  • Must have strong skillsets and experience in independent online research and analysis.
  • Must be excellent at using Excel / Google Sheets and researching on Google.
  • Have strong technical, communication and organizational skills. 
  • Must be self-driven and able to work independently to meet expectations and deadlines.
  • Must be fluent in English, additional languages are a plus.
  • Applicants with good writing and editing abilities will have a preference.

APPLICATION PROCESS
If you meet the above requirements, interested students should send:

  1. A cover letter outlining why you would be a good fit for this role.
  2. Resume including your education, skill sets, and work experience.
  3. A one-to-two page introduction essay on what you would like to learn more about (in terms of your career goals), what your interests are, and anything else you feel may be relevant to the job/our organization. Include sectors or industries you may be particularly interested in regarding ESG / Sustainability.
  4. Samples of writing or research on sustainability or other topics are also a plus.

Send application materials to Governance & Accountability Institute at:
lcoppola@ga-institute.com & agallagher@ga-institute.com

ABOUT GOVERNANCE & ACCOUNTABILITY INSTITUTE
Founded in 2006, Governance & Accountability Institute is a New York City-based company that specializes in research, communications, strategies and other services focused on corporate sustainability and corporate ESG performance (“Environmental, Social, Governance”) issues. 

G&A is the data partner for the United States, United Kingdom and the Republic of Ireland for the Global Reporting Initiative (GRI).  The Global Reporting Initiative is a non-profit organization that promotes the use of sustainability reporting as a way for organizations to become more sustainable and contribute to sustainable development.

GRI provides all companies and organizations with a comprehensive set of sustainability reporting standards that are the most widely used and respected around the world.  Currently, thousands of global organizations use the GRI to report on their Environmental, Social, and Corporate Governance (ESG) strategies, impacts, opportunities and engagements (www.globalreporting.org).  

As the US, UK and Ireland data partner of the GRI, G&A’s role is to collect, organize, and analyze sustainability reports that are issued by corporations, public entities, not-for-profits and other entities in the United States, United Kingdom and the Republic of Ireland for the benefit of all stakeholders. 

Send application materials to Governance & Accountability Institute at:
lcoppola@ga-institute.com & agallagher@ga-institute.com

BlackRock’s CEO’s 2020 Letter to Corporate CEOs – Explaining the World’s Largest Asset Manager’s Perspectives and Actions on the Global Climate Change Crisis

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

The big news this week for sustainability professionals:  The publication of the much-anticipated annual letter to corporate chief executive officers by Larry Fink, Chair and CEO of BlackRock –– the world’s largest asset manager (with almost US$7 trillion in Assets Under Management). 

Every year CEO Fink as fiduciary for his firm’s clients communicates BlackRock’s positions on key issues — and signals the steps ahead as BlackRock enhances its sustainable investing actions as influential global fiduciary.

This week the 2020 annual letter to corporate CEO’s describes what is headlined as “A Fundamental Reshaping of Finance”.   The focus is on climate change – a defining factor in companies’ long-term prospects, explains Mr. Fink.

 About the impact of climate change on investors:  “Awareness is rapidly changing, and I believe we are on the edge of a fundamental re-shaping of finance.”  Consider some quotes from the letter:

 “In the near future – and sooner than most anticipate – there will be a significant re-allocation of capital.”

 “Climate risk is investment risk.”

 “As I have written in past letters [to CEOs in 2019, 2018] a company cannot achieve long-term profits without embracing purpose and considering the needs of considering the needs of a broad range of stakeholders.  Ultimately, purpose is the engine of long-term profitability.”

 “Every government, company, and shareholder must confront climate change.”

Separately the BlackRock CEO wrote to the firm’s investor clients; he communicated to the corporate CEOs what he is saying to clients about BlackRock actions that will affect them. 

Consider: sustainability will be integral to BlackRock’s portfolio construction and risk management; certain investments will be exited (those presenting high sustainability-related risk, such as coal producers).  There will be new investment products that screen fossil fuels and strengthen BlackRock’s commitment to sustainability and transparency in its investment stewardship activities.

“Over time,” CEO Larry Fink posits, “companies and governments that do not respond to stakeholders and address sustainability risks will encounter growing skepticism from the markets, and in turn, a higher cost of capital. Companies and countries that champion transparency and demonstrate responsiveness…by contrast, will attract investment more effectively, including higher-quality, more patient capital.”

BlackRock was a founding member of the Task Force on Climate-related Financial Disclosures (the TCFD) and is a signatory of the UN Principles for Responsible Investing (PRI) as well as the Vatican’s 2019 statement advocating carbon pricing regimes.

CEO Larry Fink is one of the signatories of The Business Roundtable’s statement on corporate purpose.  BlackRock has just joined the Climate Action 100, a coalition of almost 400 investment manager managing US$40 trillion in AUM. 

There’s a volume of important information for both corporate boards and executives and sustainable investing professionals in the 2020 Larry Fink letter to CEOs of companies in BlackRock’s portfolio.

We can expect going forward in 2020 that many business & financial media will pick up on the BlackRock letter and capital market and corporate sector leaders will weigh in with their perspectives.

We are now a long way from the Professor Milton Friedman school of “shareholder primacy” advanced by the professor, in his books such as “Capitalism and Freedom” (1962) and his September 1970 essay proclaiming “shareholders first” in The New York Times.

Link to the letter.

Top Stories – Start of 2020 Coverage of the BlackRock / Larry Fink Missive…

Fortune Magazine’s Coverage:
BlackRock CEO Larry Fink puts climate change at the center of megafund’s investment strategy

Barron’s Coverage for 400,000 Reader-Investors:
BlackRock CEO Larry Fink say’s it’s time to tackle global warming – starting with coal

Bloomberg News:
BlackRock puts climate at center of $7 trillion strategy

Hello to Year 2020 and the Start of the Third Decade of the 21st Century – Climate! Climate! Climate! is The Dominant Theme of News & Commentary!

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It is a favorite pursuit of journalists and commentators at each year-end and the start of the new calendar year to look back and look forward to identify “top stories” and significant trends of the year past.  And to look ahead at “what might be” in the new year.  We present a few of these musing for you in this first newsletter of the year 2020.

Writing in the Harvard Business Review, author Andrew Winston (best-seller “Green to Gold”) in reviewing “big themes” of 2020 in sustainability, explains that “changing climate” has always been included in yearly wrap-ups.  After 2019, it is to be a permanent “big story”.

The 2019 weather headlines were about heat in Europe; floods in the USA; fires in Australia and the USA; vicious storms in the Caribbean and in Africa…all of this becoming our norm now. (As we write this in 2020, the Australian nation is in crisis, personal, business, national, as fires consume millions of acres, destroy homes and businesses, kill wildlife, and tragically, humans are dying as fires spread.)

There are eight “fascinating developments” of 2019 presented for you in our Top Story from the HBR/Andrew Winston, starting with the global climate protest movement – and a few forecasts for 2020.

We also present three other 2019/2020 selections from Eco-Business, AdAge and Food Drive on the themes of look back/look ahead.

Our G&A Institute Sustainability Update blog has been featuring commentaries about climate change over the years; we presented a new running series focused on climate as we approached the end of 2019 —  “About The Climate Change Crisis” — here are the first posts of many to follow:

Click here to sign up and receive alerts whenever news and commentary posts appear on G&A’s Sustainability Update Blog.

Top Stories

The Top Sustainability Stories of 2019   
Source: Harvard Business Review – The list of extreme, tragic, and very costly weather events this year — record heat in Europe, hail in June in Mexico, record floods in Nebraska, endless Australian bush fires, and epic destruction from storms in Mozambique and…

Here’s a Look-Ahead into 2020

5 Trends That Will Shape Sustainability & Business in 2020   
Source: Eco-Business – As a world in climate crisis enters a new decade, Eco-Business highlights five major trends that will shape society and business in the coming year.

Ideas About Sustainability That Stuck With Us In 2019 … And What They Might Mean For 2020   
Source: AdAge – 2019 saw a marked increase in the roles that corporate responsibility—and particularly sustainability—played in major marketers’ overall business plans. And that trend is likely to accelerate in 2020. Here are some things that…

2020 Will Be the Year Sustainability Goes from Buzzword to Necessity   
Source: Food Drive – Everybody wants sustainable products, and retailers are putting pressure on manufacturers to deliver goods that satisfy consumers’ new preference for green and clean options.