Business Leaders Driving Impact on Climate Change and COVID-19

As we at Becoming Sustainable social distance and work remotely, I am drawn to thoughts about the health of our planet and the interconnectivity between climate change and disease. In the early days of COVID-19, I was on a webinar with a former head of the CDC, Dr. Julie Gerberding, who highlighted the impact that climate change is having on infectious disease. The health of our planet affects the health of our people and businesses. The Dow Jones Industrial Average plummeted as business shut down and layoffs ensued. As business leaders, it is time that we take climate change seriously as a business risk and work toward a viable solution that protects our planet, people, and profit.

Viewing some of the Nasa photos taken during China's COVID-19 shutdown gives us an opportunity to better understand the impact reduced industrial activity and consumption has on our planet. On February 28, NASA reported how decreases in industrial, transportation, and business activity since the coronavirus outbreak reduced levels of atmospheric nitrogen dioxide (NO₂) over China.  Oil and coal consumption in China were also significantly down resulting in 25% lower carbon dioxide (CO2) emissions. These significant drops in emissions are  a reminder that while individuals can make personal choices to reduce their own carbon footprint, it will take significant business leadership action to reduce Green House Gases (GHG) emissions. The industrial sector is a major contributor to GHG emissions and air pollution. Without a meaningful plan from business leaders, we will not begin to reach our lower emission targets and our planet's health and ours remains at risk.

In order to drive meaningful change around climate action, we need a broad based approach that considers both environmental and social levers. Environmental and social impacts are intertwined within an interconnected system and their interdependency is reflected in the 17 UN Sustainable Development Goals (UN SDGs). A team of researchers and scientists at Project Drawdown found that promoting gender equality (SDG#5) was one of the most impactful tools for addressing climate change. Through better access to education and family planning services, outcomes for women and girls improved. As a result, stewardship of land and resources also improved.

If you are a business leader thinking about what you can do, the following 10 steps provide a roadmap to begin to drive Environmental, Social, and Governance (ESG) change:

1.     Build a culture for ESG impact by changing behaviors in employees, customers, and suppliers.

2.     Leverage industry resources and best practices to identify and address material issues for your business.

3.     Align business goals and material UN SDGs

4.     Engage employees, communities, and peers on material ESG issues to collectively address solutions in public and political forums.

5.     Build partnerships with community organizations, industry members, supply chain organizations, and government agencies to support private public partnership solutions.

6.     Highlight organizational sustainability goals and initiatives to attract and retain top millennial talent to continue to drive change.

7.     Establish ESG goals, track progress, and report on outcomes.

8.     Leverage technology and Artificial Intelligence to improve data, impact and outcomes.

9.     Align capital investments and projects with ESG goals.

10.  Participate in public policy conversations to change resource allocation toward addressing the UN SDGs.

For additional information on driving impactful ESG change, here is a link to my book Becoming a Sustainable Organization. We believe that the health of our planet and its people are the top priority. We are happy to discuss these ideas with you and to begin the conversation about driving impactful change. 

Stay safe and well.