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Capitalism Allows ESG to Win | Catherine Duggan, Head of Sustainability for Financial Services Advisory at Grant Thornton Ireland

Capitalism Allows ESG to Win | Catherine Duggan, Head of Sustainability for Financial Services Advisory at Grant Thornton Ireland

FromDreams with Deadlines


Capitalism Allows ESG to Win | Catherine Duggan, Head of Sustainability for Financial Services Advisory at Grant Thornton Ireland

FromDreams with Deadlines

ratings:
Length:
42 minutes
Released:
Jul 26, 2022
Format:
Podcast episode

Description

Key Things Discussed
Even though sustainability has been around as a concept since the United Nations defined it in 1987, progress
has been slow and time is running out.
ESG (Environmental, Social and Governance) requirements and the role they play in good citizenship and
environmental stewardship.
A Call to Arms: Climate change has accelerated steadily and experts now believe that, absent drastic adjustments to business practices and carbon emissions, the window to prevent irreversible impacts shuts in 2030.
There are scientists out there, especially in the oil and gas sectors, with deep expertise and nature-based solutions to mitigate climate change.
What it might look like if industry leaders were brave enough to pivot and become “energy companies” instead of “gas and oil companies.”
The uniquely influential role that large financial institutions are positioned to play in pressuring corporations to hedge against climate change-related exposures that could negatively (even drastically) impact markets. 
About global regulatory standards on the horizon, optimally written in concert with corporations and accessible to consumers and investors.
Practical steps that organizations can take to establish best practices in response to increasingly robust regulatory reporting and data validation standards.
Corporate ESG and sustainability today are less of a marketing feel-good feature and more of an essential resilience and risk mitigation strategy.

Show Notes
[00:04:59] A college Geology class blew Catherine’s mind, inspired reverence for the earth and set the stage for her journey towards becoming a geoscientist and ultimately a force for change within the world of environmental sustainability.
[00:07:34] Why an advisory role within the financial services sector made sense for Catherine, who was in a position to navigate compliance and entrenched mindsets.
[00:08:49] About the concept of Sustainability, which was first defined by the United Nations in 1987: “Development that meets the needs of a generation without compromising the ability of future generations to meet their own needs.”
[00:09:39] What ESG (Environmental, Social and Governance) is about and how it encompasses sustainability and extends what it means to be a good corporate citizen. 
[00:12:34] There remains discord and a lack of common understanding internationally with regard to the foundational elements of ESG.
[00:12:55] Corporations today are being held accountable to higher standards for:
Environmental stewardship.
Human and social equity.


[00:14:04] The decade ahead promises concrete ESG action rather than aspiration because climate change is real and more pressing than ever.
[00:16:07] Oil and Gas Industry Scoop: Looking for ROI and modifications in short-, medium- and long-term timeframes.
[00:18:27] About untapped resources within the gas and oil industry – experts who could help counter environmental impacts such as CO2. But decision-makers must first pivot. 
[00:19:37] It takes bravery for large oil and gas companies to develop environmental solutions. For many smaller businesses in the sector, it’s financially unfeasible.
[00:21:04] A look at what’s on the horizon in the realm of regulation and how financial institutions – managing global assets – have a fiduciary responsibility to hedge against climate change. In turn, companies must find ways to comply and reduce exposures.
[00:22:54] The EU is leading the way with regulations that are designed to promote investment in green companies, create “green credits” and a commitment to oversight among financial institutions and investors.
[00:26:24] Making sense of Alphabet Soup: Catherine explains efforts to optimize data to streamline corporate ESG terminology, acronyms, complex environmental initiatives and grading that are all but inaccessible.
[00:30:34] Catherine shares advice for organizations looking to put in place best practices to meet quickly evolving international standards with regard to disclos
Released:
Jul 26, 2022
Format:
Podcast episode

Titles in the series (84)

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