All Things Sustainable

S&P Global

Tune in to All Things Sustainable, a podcast from S&P Global (formerly ESG Insider). Each week we explore the critical sustainability topics transforming the business landscape. Join us every Friday for engaging interviews with global leaders and clear explanations of the latest sustainability headlines.

Subscribe Listen in podnod RSS feed Show website

352 episodes
Updated Friday

Episodes352

Newest first

Feb 26, 2021 · 30 min
When climate science and business collide
Investor pressure is growing for companies and financial institutions to assess and disclose their exposure to climate risks such as wildfires, sea-level rise, hurricanes and other extreme weather events. But in a new report, a handful of climate scientists in Australia warn that many existing climate models are extremely nuanced and were not designed with a business-specific application in mind. In this episode of the ESG Insider podcast, we explore the challenges of using climate models in physical risk assessments. We speak with two authors of the report: Tanya Fiedler, who is a lecturer in the discipline of accounting at the University of Sydney, and Andy Pitman, a professor at the University of South Wales. We also talk with Steve Bullock, Global Head of ESG Product Innovation and Analytics at S&P Global Trucost. Trucost assesses risks relating to climate change and natural resource constraints with aim of translating those climate models and other data into information companies can use. Steve says financial market participants need some insight into the magnitude of these risks so that they can begin to take action. "Given the urgent need for action, having a blurry photograph of risk exposure is certainly better than having no visibility at all," Steve tells us.
Feb 19, 2021 · 17 min
Global stimulus funds fall short of boosting green economy
Over the last year, 30 of the world's richest countries have poured an unprecedented $14.9 trillion into stimulus spending to help revive their pandemic-hit economies. Some hoped that this massive wave of spending would turbo-charge investment in greener industries, such as electric cars, efficient buildings and renewable energy. But has that actually happened? In this episode of the ESG Insider podcast, we take a closer look at how much global stimulus spending has gone to fighting climate change or protecting the environment. The upshot, according to new research, is that stimulus measures are continuing to have a net negative impact on the environment, mainly because so much of spending is directed at more carbon intensive-industries such as transportation, agriculture and energy. Just 12% of overall stimulus spending is directed at the green economy. We talk to Jason Eis, executive director of Vivid Economics, a British research firm. Eis says there are signs that the "greenness" of stimulus spending is slowly improving, thanks in part to President Biden's plans to invest in a greener recovery. Photo credit: Getty Images
Feb 11, 2021 · 15 min
A deep dive into BlackRock's net-zero plan
BlackRock CEO Larry Fink made waves in the ESG world last month by pushing companies to plan for a net-zero emissions future. His annual letter also committed to taking more concrete steps within BlackRock to enable the decarbonization transition. In this episode of the ESG Insider podcast, we dive into BlackRock's own net-zero strategy. We talk to experts about what it means and how much further the world's largest asset manager still needs to go. Fink has acknowledged that BlackRock has a carbon-intensive portfolio and is moving to change that. We'll hear from Kirsten Spalding, who leads the Investor Network at the sustainability-focused group Ceres. And we'll also hear from Moira Birss, who is Climate & Finance Director at Amazon Watch. Her group is part of a network of NGOs and finance advocates that are pressing asset managers like BlackRock to align their business practices with a climate-safe world. Photo credit: Getty Images
Feb 5, 2021 · 14 min
'Stakeholder capitalism,' the buzzword at Davos
Stakeholder capitalism — the idea that companies are responsible for their role in society in addition to making money for shareholders — has taken on new meaning thanks to COVID-19. It was the buzzword among major players in the ESG world like BlackRock CEO Larry Fink as well as heads of government at the Davos summit last week. In this episode of the ESG Insider podcast, we dive into stakeholder capitalism — what it means and what people were saying at the World Economic Forum's annual Davos gathering, which was virtual this year. You'll also hear an interview with the World Economic Forum's Project Lead for ESG, Emily Bayley. She describes the story behind a set of new stakeholder capitalism metrics that more than 60 major companies just agreed to use in their mainstream reporting, such as annual reports and proxy statements.
Jan 28, 2021 · 22 min
Biden transition brings wave of ESG uncertainty, opportunity
New U.S. President Joe Biden has made climate change a priority and is setting the nation on a much more sustainability-focused path than his predecessor. Just days into his term, Biden had already has taken dozens of executive actions, including rejoining the Paris agreement on climate change and ordering a review of rules the Trump administration finalized in the last days of its term. In the latest episode of S&P Global podcast ESG Insider, we talk to experts about what the change of administration and the inherent regulatory uncertainty mean for sustainability-minded companies and investors. We hear from Josh Zinner, CEO of the Interfaith Center on Corporate Responsibility. ICCR, a global coalition of institutional investors, engages with corporations on a wide range of ESG issues. Zinner said climate-minded investors take the long view and ignored the Trump administration's deregulatory agenda in the expectation that the pendulum would eventually swing back in their favor, which it now has under Biden. We talk to Alex Bond, one of the regulatory leads at the Edison Electric Institute, a trade group for investor-owned electric utilities in the U.S. Bond said the sector has been focused on climate for years and that utilities, like investors, take a long-term view. And we interview former bank regulator John Geiringer, who said that the tone in the financial sector was already shifting to take climate risk more seriously, even before the administration change. Photo source: Getty Images
Dec 31, 2020 · 27 min
The ESG trends that will drive 2021
In this final episode of 2020, we'll talk with experts about what key ESG themes they expect to unfold in 2021. State Street Global Advisors' EMEA Head of ESG Investment Strategy Carlo Funk outlines the firm's ESG priorities for the year ahead, while proxy advisory firm Glass Lewis' Director of ESG Research Courteney Keatinge describes why COVID-19 will continue to be a key theme behind shareholder engagement in 2021. Trillium Asset Management CEO Matt Patsky talks about the continued need for robust data and how the incoming Biden administration could establish disclosure requirements. And we hear from Jeff Hales, who chairs the Standards Board at the Sustainability Accounting Standards Board, or SASB. He talks about how COVID-19 altered the way companies and investors think about human capital management issues like worker mental health and paid sick leave. As a result, SASB is considering changing the way it measures human capital management in its industry-specific sustainability standards. Photo credit: Getty Images/Nora Carol Photography
Nov 23, 2020 · 21 min
Risky business: Investors seek meat industry changes amid COVID-19
This special pre-Thanksgiving episode puts a spotlight on the meat industry that is supplying the turkeys and other poultry, pork, fish, and beef products many Americans will be feasting on for the holiday. The meat industry has been hard hit by COVID-19, as the pandemic has exposed frailties in everything from supply chains to production processes and associated greenhouse gas emissions levels to worker safety. In the episode, we talk with Jeremy Coller, the founder of the industry activist group Farm Animal Investment Risk & Return, or FAIRR, about these weaknesses. Coller also discusses progress his group and investors have made in convincing companies to tackle these risks, and the continued challenges the sector faces. Photo credit: Getty Images
Oct 28, 2020 · 19 min
Financial regulators should act 'urgently' on climate, says CFTC commissioner
U.S. financial regulators need to step up in the fight against climate change, according to one of their own. Rostin Behnam, a commissioner at the U.S. Commodity Futures Trading Commission, talks to ESG Insider, an S&P Global podcast on environmental, social and governance issues, about a report released in September by a panel of nearly three dozen Wall Street, energy and sustainability executives and experts. In the report, the CFTC's Climate-Related Market Risk Subcommittee concluded that climate change poses a "major risk" to the stability of the American financial system and the broader economy. "U.S. financial regulators need to recognize this risk and move urgently and decisively to address" climate change," Behnam says in the episode. The landmark report included more than 50 recommendations calling on lawmakers and financial regulators across the U.S. to address climate risk. It has already sparked new conversations about the relationship between the financial industry and climate change. Oregon Senator Jeff Merkley, a Democrat, introduced legislation Oct. 21 that would ban financial companies from making new investments in fossil fuels, while citing the report from the CFTC subcommittee. And the New York Public Service Commission recently noted the CFTC panel's findings when discussing whether to require annual reports from major electric and gas utilities on their climate-related risks. "Climate change is not linear in many respects," Behnam said. "It's not comparable to a traditional financial analyst's work when they evaluate public companies or risk more generally. So we have to, both the public sector and the private sector, adapt to climate change over the years. Nothing is clearly predictable. We do have a sense that climate change will get worse if we don't change our patterns." Photo source: Busà Photography via Getty Images
Oct 22, 2020 · 34 min
The New 'Sandwich Generation': New York Hospital Exec Says Pandemic Will Force Rethink of Eldercare
Pictured is Pamela Sutton-Wallace and her two daughters. In this episode, we bring you an exclusive interview with Pamela Sutton-Wallace, a healthcare executive at a New York City hospital that is one of the largest in the U.S. She took on the role just weeks before the pandemic turned the city into a coronavirus hotspot. Sutton-Wallace shares her decades of personal and professional experience as a leader in the healthcare industry while raising her children. She tells us how she expects the coronavirus will change family leave policies. She talks about the guidance she gives to women looking to advance in their careers while balancing demands of childcare and caring for aging relatives. And she discusses the demands on the "sandwich generation" — adults caring for an aging parent who are also raising children or supporting them financially. Sutton-Wallace has two college-age daughters and her own mother lives with her. This is the second in a two-part series in which ESG Insider explores the ways corporate America is responding to COVID-19 and finding ways to retain employees. In the first part, we discussed research into gender, parental leave and family caregiving policies in the U.S. private sector, which S&P Global conducted in partnership with AARP.
Oct 19, 2020 · 28 min
How COVID-19 is forcing big changes for parents, family caregivers
In this special episode of the ESG Insider podcast, we explore how corporate America is responding to COVID-19 with new policies for employees caring for children and elderly relatives. S&P Global partnered with AARP to research how leave policies are evolving in the U.S. private sector as part of S&P Global's #ChangePays initiative, which produces research about the benefits of increasing women participation in the work force. In the episode we unpack that research, which found the pace of change has accelerated rapidly amid the pandemic. We also hear from women who are on the ground balancing childcare, virtual schooling and elder care alongside demanding careers amid the pandemic. The episode features interviews with Pamela Sutton-Wallace, an executive at New York-Presbyterian, one of the largest hospitals in the U.S.; Microsoft Corporate Vice President Rani Borkar; S&P Global Market Intelligence President Martina Cheung; and Arjuna Capital co-founder Natasha Lamb.
Oct 15, 2020 · 30 min
Duke Energy CEO explains new climate, environmental justice moves
Duke Energy Corp. President, CEO and board Chair Lynn Good sat down for an exclusive interview just hours after the electric utility company held its first ESG investor day on Oct. 9. Lynn talked to ESG Insider, an S&P Global podcast about environmental, social and governance issues, about Duke's evolving climate strategy. She also explained how the company is handling social issues ranging from racial tensions to working with customers who are struggling to pay their electric bills during the pandemic. At the ESG investor day event Duke announced several new initiatives including a methane emissions target, a climate-focused executive compensation metric and efforts to craft "principles for environmental justice." In the latest episode of the ESG Insider podcast, Lynn took a deeper dive into the compensation metric and environmental justice principles. She also defended the company's decision to build more natural gas plants despite having a net-zero emissions target. Lynn said that technologies such as battery storage are not where they need to be to make up for performance gaps in solar and wind. Therefore, "we see a need to use natural gas" to meet those needs — "probably in the medium term," , she said. But Lynn added that the company will continue to test that assumption as technologies develop. Lynn also said heightened racial tension in the U.S. is prompting Duke to reexamine diversity. Duke is "turning our attention into more rapid progression of minorities and women into the company into leadership in a way that this event has really catalyzed our good intentions to encourage us to move as quickly as we can," Lynn said. Photo source: Duke Energy
Oct 8, 2020 · 31 min
The 'name and shame' game: How 2 state laws tackle corporate racial diversity
Illinois and California have passed new corporate racial diversity laws to prod publicly traded companies to embrace racial diversity on their boards. In this episode of ESG Insider, an S&P Global podcast about environmental, social and governance issues, two of the lawmakers behind the bills explain why the move was needed and could have ramifications beyond their state borders. "Companies are responding to the public shame and making changes," Illinois State Representative Chris Welch said, explaining how the 2019 state law he sponsored requiring companies to report on their race metrics will be effective. "Public shaming works." In the U.S., the national dialogue has turned to race in 2020. Following the death of George Floyd while in police custody, companies have paid more attention to systemic racism and diversity in their own ranks. Investors are also increasingly talking about this topic as a human capital management issue. While the Illinois law does not mandate companies be racially diverse, it directs them to publicly disclose the racial, ethnic and gender diversity of their boards of directors by the end of this year. And then, starting in March 2021, the University of Illinois will publish a report card evaluating how companies are faring, which Welch said will be used to name and shame companies that are not up to snuff. "Everyone appreciates collecting data and making further decisions based on that data," Welch said. "I think this is going to become model legislation that you'll see in other states." California has also taken action to promote corporate board diversity. In the episode, we interview California Assemblyman Chris Holden, who co-authored a law passed in September of this year that expands the state's diversity requirements for the boards of publicly traded companies to include people who identify as being a part of a racial minority, an Indigenous community or the LGBTQ community. Holden said that companies should have no trouble finding qualified director candidates and noted that studies have shown companies with diverse boards generally perform better. The California law also includes a disclosure mandate. Specifically, it requires the California Secretary of State to track and publicly report compliance with the law as well as levy fines for noncompliance.
Sep 23, 2020 · 25 min
Walmart sustainability head talks climate change, supply chain strategy
The coronavirus has slammed the retail sector and caused many companies to go out of business. But the pandemic has been a catalyst for growth at Walmart Inc., one of the world's largest retailers. The company's e-commerce sales jumped 97% in the second quarter as consumers hibernated at home and relied increasingly on online shopping. That growth also means an expanding carbon footprint. In this special Climate Week episode of ESG Insider, an S&P Global podcast, we talk to Walmart's chief sustainability officer, Kathleen McLaughlin. She says the company is making significant strides toward the goals of Project Gigaton, its initiative to eliminate 1 billion metric tons of greenhouse gases by 2030. Walmart has enlisted more than 2,300 of its suppliers, including Unilever, Johnson & Johnson and Fruit of the Loom, to cut greenhouse gas emissions. "Our goal is to rewire the way that supply chains function so that the production of the products that all of use every day is actually sustainable," McLaughlin tells ESG Insider. Photo source: Walmart
Sep 21, 2020 · 23 min
Why one big asset manager dropped companies over lobbying
Companies that lobby against climate-friendly laws and policies are putting the overall goals of the Paris Agreement on climate change at risk and have a "weak recognition of the challenges ahead," Jan Erik Saugestad, CEO of Norway's largest private investment firm Storebrand Asset Management AS, said in an exclusive interview. In the latest episode of ESG Insider, an S&P Global podcast about environmental, social and governance issues, Saugestad talked about the new climate policy Storebrand Asset Management, a subsidiary of insurer Storebrand ASA, announced in August. Many banks and asset managers have announced plans to divest from carbon-intensive companies or cease financing certain fossil-fuel projects and companies, but Storebrand took its divestment strategy a step further. The Norwegian investment firm, which has more than $90 billion in assets under management, opted to exit investments in companies that it judged to have lobbied against climate change policies. The companies it divested from for alleged anti-climate lobbying practices include Exxon Mobil Corp., Chevron Corp. and Southern Co. Under its new policy, Storebrand also will no longer invest in companies that earn over 5% of their revenues from coal or oil sands, although Saugestad in the interview noted his firm has made some exceptions to that rule. The asset manager also plans to increase capital flows into low-carbon, climate-resilient and transition companies and provide clients with a range of sustainability and low-carbon funds to help them decarbonize their portfolios.
Aug 26, 2020 · 22 min
The ESG implications of a proposed US Labor Department rule
The U.S. Department of Labor received thousands of comments on a newly proposed rule that says sustainable investments still need to put financial performance first to have a place in corporate retirement plans. Some say the proposal would put needed guardrails in place around an increasingly popular investment product, but others argue that the rule will hamper ESG options in pension funds. We talk to sustainability experts on both sides of the debate in the latest episode ESG Insider, an S&P Global podcast about environmental, social and governance issues. The Labor Department in June proposed requiring company-sponsored retirement accounts such as 401(k)s and pension plans that are subject to the Employee Retirement Income Security Act, or ERISA, to give a higher priority to funds with the greatest financial performance potential than to those focused on non-financial environmental and social considerations. The vast majority of comments the DOL received in July were in opposition to the proposal, according to an analysis by a number of organizations including the US SIF: The Forum for Sustainable and Responsible Investment. Christian McCormick, director and senior product and sustainability specialist at asset manager Allianz Global Investors U.S. LLC, notes that sustainable funds have grown exponentially. Morningstar Inc. reported that the money invested in sustainable funds increased nearly fourfold in 2019 from the prior calendar year to a total of $21.4 billion. In comparison, the World Business Council for Sustainable Development, or WBCSD, has indicated that in 2019 only 4.8% of Fortune 1000 companies offered a socially-responsible fund option for employee retirement plans. Given the rising popularity of ESG funds, McCormick suggests that the Labor Department may be trying to act early before the trend spreads and takes hold in retirement plans. If the agency were to wait until more companies offered ESG fund options, it would face much more push-back "because it would require a lot of cost to then change investment lineups [and] require a lot of regulatory and perhaps even litigation costs for plans that have already added it," McCormick says in the interview. But William Sisson, executive director of the CEO-led WBCSD, contends that the new rule would make companies even less likely to offer ESG fund options. "This ruling is going to perhaps put some brakes on that because it's going to raise ... some flags to the fiduciaries in our companies about concerns over the litigation risk and other factors that they'll have to pay attention to if this ruling goes forward," he tells ESG Insider.
Jul 31, 2020 · 17 min
European banks sharpen ESG focus as COVID-19 highlights risk
ESG Insider interviewed sustainability leaders at some of Europe's largest financial institutions: BBVA in Spain, BNP Paribas in France and Barclays in the U.K. This is the third in a three-part miniseries that features interviews with some of the biggest lenders around the world about how they're adapting their ESG strategies amid COVID-19. In Europe, climate change remains in sharp focus for banks despite the current coronavirus crisis. As scientists caution that deforestation and destruction of nature could lead to more pandemics, some banks are increasing their focus on environmental issues like biodiversity. Listen to the episode to hear the interviews, and subscribe to ESG Insider to catch future episodes. (Photo: AP)
Jul 27, 2020 · 23 min
Head of major US gas utility outlines path to net-zero emissions
"This isn't just a pie-in-the-sky commitment or announcement. This is something that we spent a lot of time researching and analyzing and studying," DTE Gas Co. President and COO Matt Paul said of the company's plan to achieve net-zero emissions by 2050. Paul made the comment in an exclusive interview with ESG Insider, an S&P Global podcast about environmental, social and governance issues. DTE Gas parent company DTE Energy is among the largest electric and gas companies in the U.S. and serves 2.2 million electricity customers and 1.3 million gas customers in Michigan. In June, it expanded its existing goal of achieving net-zero greenhouse gas emissions by 2050 to also include its natural gas distribution and gas retail sales operations. The company joins a growing list of U.S. electric and gas utilities that have made deep decarbonization pledges. But achieving net-zero emissions can be a complicated feat and requires different strategies for different types of companies. For example, electric utilities can reduce the majority of their carbon emissions by retiring coal-fired power plants and replacing that generation with wind, solar and battery projects. However, not all companies have the option of changing their power fleet to achieve their goal. In the interview, Paul detailed DTE Gas' strategy for achieving net-zero emissions within its operations and from suppliers, such as oil and gas drillers and owners of major interstate pipelines that transport the gas to its distribution system. Paul also noted that DTE Gas is looking to help customers who use natural gas for home heating and other purposes offset their associated emissions. Paul said that the company will need to rely on carbon offsets for a portion of its goal and described how DTE Gas is already taking steps to ensure those options are available for the future. Listen the episode to hear the full interview, and subscriber to ESG Insider to catch future episodes. (Photo: AP)
Jul 20, 2020 · 25 min
COVID-19 shows many ESG agendas have 'forgotten about the people'
"Sustainability was always around people, planet and profit. I just think for the longest time we've forgotten about the people," said Mikkel Larsen, chief sustainability officer at Singapore-based " data-original-title="">DBS Group Holdings Ltd., in an interview for the latest episode of "ESG Insider," an S&P Global podcast. In the coronavirus pandemic, Larsen said, "We've been reminded that you can't have one without the two others." Larsen said the pandemic has brought social issues to the forefront as companies grapple with the way they treat their employees, customers and those in their supply chains. "What we now see under COVID-19 is that companies who don't take [care] of their employees will not have a sustainable company to run," he said in the interview. In Asia, where millions live in abject poverty, Larsen cautioned that the climate agenda cannot come at the expense of people. DBS stopped financing coal-fired power plants, but only after finding price-competitive renewable energy alternatives. "We were not willing to accept that lack of electricity — we are in Southeast Asia where 65 million are still without electricity — was necessarily going to be the trade-off," Larsen said. In other industries, such as aviation and cement, good alternatives are not yet clear. But Larsen said banks like DBS can take steps to help clients transition to more sustainable business models. "I think the right thing to do is to back those that are taking the right steps to decarbonize," he said. Going forward, Larsen expects rapid growth in ESG investing in Asia. He said this is partly due to growing investor demand and partly due to rising pressure from regulators in the region. "You've seen around Asia a number of regulators stepping up, and they're not deterred particularly by the COVID-19 crisis," he said. "Introduction of carbon taxes, introduction of incentives for going green, requirements for banks to show how much of their book is 'green' and 'brown'...China's ability to offer a discounted rate at the discount window if you have green assets — all these things will spur the movement." The episode is part of a series of podcasts exploring how banks in different parts of the world are adapting their environmental, social and governance strategies amid the coronavirus pandemic. DBS is the largest bank in Southeast Asia. In the " data-original-title="">last episode, we heard from " data-original-title="">JPMorgan Chase & Co. Head of Sustainability Marisa Buchanan about how the largest U.S. bank is responding to systemic racism and re-upping its focus on climate change following pandemic disruptions. In the next episode, we'll hear from some of the largest banks in Europe about their ESG approach. Listen to the episode, and subscribe to ESG Insider to catch future episodes. (Photo: AP)
Jun 30, 2020 · 19 min
How the biggest US bank is adapting its ESG approach amid COVID, racism
Climate change took "a bit of a backseat" during the first several weeks of the coronavirus pandemic as "governments and businesses frankly were really just focused on survival," JPMorgan Chase Head of Sustainability Marisa Buchanan said in an exclusive interview in the latest episode of "ESG Insider," an S&P Global podcast. "As economies begin to rebuild [and] businesses have greater ability to focus on these issues, we're going to see budget and bandwidth come back hopefully," Buchanan said. The episode is part of a series in which we talk to some of the world's biggest lenders about how they are adapting their environmental, social and governance strategies amid COVID-19 and widespread protests against racism following George Floyd's death in the custody of Minneapolis police. Listen to the episode to hear to the full interview, and subscribe to ESG Insider to catch future episodes. (Photo: AP)
Jun 23, 2020 · 20 min
Why S&P Global Ratings sees ESG as critical to COVID-era credit quality
More than 370 credit rating actions taken by S&P Global Ratings since March have been driven by environmental, social and governance factors as a result of the COVID-19 pandemic, S&P Global Ratings' Americas Team Leader for Sustainable Finance Michael Ferguson said in an exclusive interview for the latest episode of "ESG Insider," an S&P Global podcast. Companies in nearly every sector have been hard hit by the economic impacts of the pandemic and many have seen their credit rating downgraded as a result. The majority of ESG-related actions S&P Global Ratings took in recent months were tied to social factors, such as how businesses are being impacted by social distancing and workforce challenges, Ferguson said. "Managing ESG risk is critical ... because it is a central piece of understanding credit quality," he explained. Many ESG risks such as climate change play out over the long term, giving companies time to plan and adapt. But the pandemic is forcing companies to pivot and act quickly in relation to things like supply chain management, Ferguson explained. Some ESG-related deterioration in credit quality resulting from COVID-19 is inevitable given the pandemic circumstances. "Certainly the idea that people are going to social distance means that they're not going to go to casinos, they're not going to go to restaurants, they're not going to get on planes for a little while. That's going to impair credit quality," Ferguson said. But management teams do have control over their response to the virus, such as mitigating risks related to workforce and safety — and that is something ratings analysts will be watching closely as companies emerge from the crisis. "Companies that are not particularly cautious about how they reopen and do so hastily and without taking the proper precautions," face significantly heightened social risks, Ferguson cautioned. Listen to the episode to hear the full interview, and subscribe to ESG Insider to catch future episodes! (Photo: AP)