She has advised senior executives at global companies across a range of industry sectors and sustainability issues. Laura has also been a leader in BSR’s organizational growth and impact. She launched BSR’s financial services practice and New York office, and she is currently the Chief Impact Officer — the first in the organization’s 30-year history.
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Topics Discussed During The Episode
Laura Gitman and Alex discussed Laura's work as Chief Impact Officer at BSR, promoting sustainability and justice in the global economy, and the importance of sustainability in business.
Alex and Laura discussed the importance of companies aligning their actions with their stated goals and values, particularly in terms of sustainability and the possibility of profitability and sustainability coexisting.
Laura and Alex discussed the importance of collaboration and innovation in sustainability communications, making content more digestible, searchable, practical, and shareable, and focusing on more interactive and problem-solving formats for events.
Alex and Laura discussed the importance of understanding the impact of environmental, social, and governance factors across an organization and its supply chain and the need for impact reports to bring about change.
Sustainability and Justice in the Global Economy
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If you think about what sustainability is at it's core, it's thinking about your impacts and the way the world impacts you in a broader perspective...
(05:27-8:40)
Alex and Laura discussed the work of Laura's organization in promoting sustainability and justice in the global economy. Laura explained that the organization works directly with large businesses, providing thought leadership, advice, and opportunities for networking and collaboration. She emphasized the importance of embedding sustainability principles in all aspects of business, regardless of the individual's job title or function, and highlighted the need to consider both environmental and social impacts.
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Sustainability and Profitability: A Balancing Act
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They might talk about sustainability, but then they go do what is profitable. So I don't want us to imply that there needs to be a trade-off between those and it is perfectly acceptable for it to be profitable and sustainable...
(08:41-18:17)
Alex and Laura discussed the importance of companies aligning their actions with their stated goals and values, particularly in terms of sustainability. Laura emphasized that profitability and sustainability can coexist and should not be seen as a trade-off. She also highlighted the need for companies to prioritize areas where they can make the most impact. Alex praised Salesforce as a successful example of a company that has managed to do good while doing business. Laura also pointed out that while many companies have set ambitious sustainability targets, they often struggle to meet them due to continued growth and increasing emissions. She views this as an opportunity for companies to reimagine capitalism and industry to collectively achieve a sustainable future.
Sustainability Communications: Collaboration, Innovation, Impact
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We really look for companies to move the needle on the areas that are most material for them, that are core to who their business is, and so companies that are setting ambition, holding themselves accountable, with targets of where they're looking to go and what the progress has been, being transparent around when they're not achieving that...
(10:13-16:30)
Laura and Alex discussed the importance of collaboration and innovation in sustainability communications. Laura expressed her desire for her organization to be a thought leader and to share best practices and guidance more engagingly and digitally. They acknowledged the need to make content more digestible, searchable, practical, and shareable to have a wider impact. They also talked about their evolving approach to events, focusing on more interactive and problem-solving formats.
ESG Impact: Communicating for Change
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We've been really pleased to to be able to partner with you in that Journey. it's that we are not an organization that thinks about um that kind of innovation or communication first...
(16:31-24:02)
Alex and Laura discussed the importance of understanding the impact of environmental, social, and governance (ESG) factors across an organization and its supply chain. Alex emphasized that impact reports alone are not enough to bring about change and stressed the need to communicate the message broadly. Laura acknowledged the challenge of tailoring messages to different audiences and industries but highlighted the value of specific and practical content. They agreed that thought leadership should be both broad and specific, providing a framework and drilling down into particular domains.
Sustainability Transformation Challenges
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For us that has been, we've really leaned into our areas of expertise and, for us, that's climate, that's nature, that's human rights, it's equity inclusion and justice...
(24:03-24:48)
Laura and Alex discussed the challenges of navigating sustainability transformation in complex organizations. Laura emphasized the importance of understanding the specific issues related to different industries and helping companies make sense of the plethora of communications about sustainability. She also highlighted the need for a strategic approach that goes beyond compliance and data gathering. Alex added that decision-makers need both detailed documentation and a summary, and highlighted the challenge of balancing robustness with simplicity. Laura agreed, explaining that their team aims to help companies think more strategically about their sustainability direction.
Sustainability and Compliance Trends
(24:49-33:21)
Alex and Laura discussed the current trends in the space of sustainability and compliance. Laura mentioned that global companies need consistency in their approach and, thus, are following the regulations set by the European market, which are similar to California's. She added that these regulations are pushing for advanced commitments and expectations, not just transparency, but also due diligence on various components. Alex highlighted that compliance is driving communications and actions, and Laura agreed, stating that companies can no longer escape these requirements.
Sustainable Investing: Trends and Challenges
(33:22-36:42)
Laura and Alex discussed the importance of high-level communication, particularly in marketing to investors. Laura noted that the demand for sustainable investing, driven by both investors and corporate customers, has remained strong despite political challenges in the US. She also observed a shift in public communications due to political backlash, but emphasized that investor engagement and compliance remain robust. Alex asked for more detail on the types of investors driving this trend, and Laura explained that the demand for sustainable investing is widespread, spanning pension funds, university endowments, private foundations, and state pension funds.
ESG Investing: Trends and Challenges
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We need to make sure that the investments we're making are aligned with our long-term aspirations, and so I'd say any institution that has that long term perspective, any long term investor, really across the board, has shifted towards more of an ESG mandate...
(36:43-41:48)
Laura discussed the increasing demand for ESG factors in investment decisions, noting that retail investors, particularly the younger generation, are increasingly interested in values-based investing. Asset managers have responded by creating new products that incorporate ESG factors. Laura also highlighted the trend of ESG considerations trickling down from larger institutions to smaller organizations. Alex asked Laura about her expectations for the journey of ESG integration, to which she responded that it took longer than expected and she was not prepared for the backlash they have encountered in the past two years.
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Sustainability and CSR: BSR's Unique Approach
(41:50-49:08)
Alex and Laura discussed the practical and tactical approach to sustainability and corporate social responsibility. Laura emphasized BSR's unique value proposition, which aligns with her view of creating systemic change and pushing companies to be more ambitious. She also addressed the company's methodology of working with businesses regardless of their current sustainability level, aiming to drive change in the mainstream. Alex encouraged Laura to share her top tips for companies looking to make small steps in the right direction. Laura suggested focusing on the areas where a company can have the biggest impact, building in from the start ways to minimize negative impacts, and considering decisions that are easier to scale later on.
Effective Communication for Business Leaders
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I think that the companies that do it well don't think about this as a one-directional communication, but about engagement. It's an opportunity to put information out there so that your employees, customers, and business partners can realize the opportunities to help you and to give ideas, innovate, and collaborate.
(49:33-52:50)
Laura emphasized the need for leaders to communicate authentically and in a way that aligns with their business and customers' language. She also stressed the significance of two-way communication that allows for input and dialogue. Alex highlighted the value of embedding forms in internal communications to encourage employee participation and highlighted the importance of moving away from a command and control structure.
Check the the episode's Transcript (AI-generated) HERE.
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