When it comes to hitting ESG goals like becoming net zero by a certain date, Orlan Boston, Americas Sustainability ESG Market Leader at EY, said it takes a village.
During a panel titled “Effectively Communicating ESG Commitments to the Workforce, Suppliers & Talent Pipelines” at the 2022 DiversityInc Top50 Event on May 3, Boston said his company recognized it needed to create more lofty ESG goals in 2019 and as a result, the company appointed a Chief Sustainability Officer. As a result of that, EY achieved carbon neutral in 2020, carbon negative in 2021 and is on its way to achieving net zero by 2025.
Dow has a goal of hitting net zero by 2050, Dr. Alveda Williams, Chief Diversity and Inclusion Officer said. With the nature of Dow’s work as a material science company, she said the company realizes that goal is difficult but can be done and needs to be done to “play our part” in protecting the planet. The company plans to do so by phasing out less-efficient plants, building new assets that reduce carbon emissions and delivering products such as food packaging and automotive products that are low-carbon.
How can these companies meet these goals? As Boston said, by forming that village that works together and by instilling accountability. Williams said accountability drives outcomes in all other sectors of a business and should be applied to ESG and DEI initiatives. And sometimes, company leaders might need a reminder of what the ESG and DEI goals for the company are. Reminders hold people accountable and help them achieve their goals, she said.
To meet green goals, companies also need to recognize where and what their ESG opportunities are.
DK Bartley, Chief Diversity and Inclusion Officer at Moody’s, said recognizing opportunities starts with being transparent with company stakeholders. One way Moody’s has done this is by releasing a 100-page sustainability report, which helps investors understand its ESG strategy, how DE&I works at the company and more.
“It shows the level of what we’re doing, why we’re doing it and how it can affect you,” he said.
Watch the full session below!