SEC Climate Rules Unlock Business Value – Kristen Sullivan, Deloitte Audit, Sustainability
Release Date: 04/02/2024
Electric Ladies Podcast - Women Leaders Discuss Careers, Trends, Technologies and Innovation in Energy, Climate, and Corporate Responsibility
“Try as best as you can not to be fear-driven. I think we are so driven by fear that we're never going to be enough, that we aren't going to contribute enough….(Y)ou actually are enough just as you are, right? Take this day, do what you can. Impact the people around you.…Become partners in your career with unlikely people, people who don't think like you, people who aren't doing the same career as you. You'll get a lot more joy out of, I think, your career because of the cross-pollination.” Dr. Katherine Gergen-Barnett on Electric Ladies Podcast This Earth Day, we want to share...
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“You see corporate procurement of clean energy, predominantly renewable energy, but there's fleet investments, there are efficiency improvements in buildings and on campuses underway….but it was a little different than what we'd seen in recent years. It wasn't just solar and wind. There was an interest in 24/7 reliable clean energy in particular by the tech industries, which won't surprise you, but things like nuclear, geothermal, other integrated technologies like solar and storage…So that's kind of an interesting set of dynamics because it's really diversifying the players in the...
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“If there are people who are willing to talk to you about it, the first thing you got to do is listen….I grew up in a very rural area and it's very conservative also. And when I go home, I don't talk about climate change. I do talk about what's going on with hunting season. 'Oh, there's no deer this year. Why do you think that is? Tell me about the rain'….It is again about that pivoting and you have to understand what's important to the people you're talking to… I might say, 'I just upgraded my mom's generator. It's great because with all the outages we're having out here, now she can...
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"What I knew about Carbon Credits having watched them for many years is that they're not always what they seem...So, Calyx Global was founded in 2021 to help companies navigate the space, to really understand….(i)t's a promise that somebody has reduced methane in that landfill or planted some trees thousands of miles away. So that's what Calyx Global is, we're a Carbon Credit Ratings Agency. But really what we're doing is, for every one of these assets, helping buyers understand what's underneath that, what the quality of that asset is. Donna Lee on Electric Ladies Podcast You've...
info_outlineElectric Ladies Podcast - Women Leaders Discuss Careers, Trends, Technologies and Innovation in Energy, Climate, and Corporate Responsibility
“Number one reason that people get denied and they didn't read the eligibility criteria. So yeah, very, very important …If you don't have the qualifications or something for something, you partner with somebody who does and you guys go after it together.… If you don't know something, that gives you a reason to call the vendor and start that conversation and get that personal relationship with them.…Relationships, relationships, relationships. It really is the key to grants. It's really not about what you write, it's about who you're speaking to ahead of time." Megan Pater on Electric...
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“Healthcare Without Harm is more of an advocacy organization that works with clinicians and other healthcare workers to reduce the environmental impact of healthcare and pollution as well as climate impacts. And then Practice Greenhealth advises hospitals on how to get there and they do this awards process…(which is) about having people aware of all these different metrics that impact your operational sustainability…(and) raise awareness among the people who are running the hospital and leadership about how they're using water, food waste, where they're buying their food from, their...
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“I've been in this industry for 40 years and we have never been at a moment like we are today. …About 10 years ago, a little bit more than that, the narrative at that time was we were closing down plants…. Now the narrative today is, Hey, you know what? Some of those plants you shut down, we've changed our mind. How hard would it be to restart that?... All of these hyperscalers (Google, Amazon, e.g.) are figuring out partnerships and marriages, if you will, with nuclear and trying to help nuclear be brought to the marketplace….I mean, the demand is off the charts, and that's really the...
info_outlineElectric Ladies Podcast - Women Leaders Discuss Careers, Trends, Technologies and Innovation in Energy, Climate, and Corporate Responsibility
“We, the people we can definitely keep the pressure on, not only on our lawmakers, our governors, our mayors, our senators, our Congress people. We have to keep reminding them that we care about these issues…There's a real key also to the future reimagining, asking companies to reimagine themselves as energy companies, not oil companies or gas companies, but energy companies. So all of these pressure points are incredibly important. We all have favorite stores, favorite brands that we shop on. If you love Walmart writing to the customer services and to the president of Walmart saying,...
info_outlineElectric Ladies Podcast - Women Leaders Discuss Careers, Trends, Technologies and Innovation in Energy, Climate, and Corporate Responsibility
“I believe in the power of people wishing to volunteer for initiatives rather than assignment of duties and responsibilities and having people feel as though it's a chore… (They) serve as champions in their areas to educate their fellow peers on what it means to be sustainable, what they can do that's in their power to contribute to the outcomes….And then as we started to become more mature…we formed structured committees, we leveraged those champions on the units to participate. We made it enjoyable in terms of participating. We actually have contests… (I)t just breeds excitement...
info_outlineElectric Ladies Podcast - Women Leaders Discuss Careers, Trends, Technologies and Innovation in Energy, Climate, and Corporate Responsibility
How Utilities Are Changing While Keeping The Lights On – Nicole Pearson & Brad Johnson of Bentley Systems “The really great thing about electric utilities is that they maintain a singular focus almost regardless of what's going on around them. It's safety, reliability, resilience. So they'll adapt and flex…They're not going to take a risk that sacrifices safety, that sacrifices your light coming on….The difference now that I've noticed is their willingness to move forward with technology and change decades, long processes and workflows and legacy built systems……. because...
info_outline“Regulation can really be a catalyst for transformation, for business transformation, because this is so much more than a disclosure and compliance exercise. “When you think about the mechanisms, the infrastructure, the data that will emerge from instituting more discipline and rigor around these disclosure objectives, (it) is absolutely critical to surface more timely where risk disruption can emerge. They give insight into choices that can be made.” Kristen Sullivan on Electric Ladies Podcast
The SEC released its final climate risk disclosure rules after a two year process of collecting thousands of public comments, hearing from investors and conducting analysis. These rules have the potential to be transformative because they require companies to disclose verified data about the climate impact on their bottom line, and on how their company affects climate change risk as well. What does it mean?
Listen to Kristen Sullivan, Deloitte Audit Partner, who leads the firm’s sustainability practice, and Electric Ladies Podcast host Joan Michelson as they decipher these new rules – and the opportunities they reveal.
You’ll hear:
- What the SEC is asking companies to disclose verified data on, and why.
- How companies could benefit from identifying this data and seeing its impact on their business.
- Where this climate disclosure data might reveal opportunities that could be transformative for them.
- How to prepare, when to start (now), and how to structure your preparation.
- Plus, insightful career advice
“Whether you're a marketing leader, whether you're a talent leader, a human resources leader, supply chain, finance, investor relations, legal, pick your favorite area of the business, really introducing a climate lens to what you do in your day job and really becoming a champion across your part of the organization. It opens up windows. We participate in meetings with clients all the time where parts of the organization come together that have never really had an opportunity or a remit to collaborate in certain areas. And so I think there's just a tremendous opportunity to bring sort of a tested set of skills, education, activities …to really become a change maker within your organization, a champion within your organization to drive this integration.”
Kristen Sullivan on Electric Ladies podcast
Read Joan’s Forbes article about the SEC climate risk disclosure rules and finding hidden business value here.
You’ll also want to listen to: (some might be recorded under our previous name, Green Connections Radio)
- Kristen Sullivan, Deloitte, previous appearance on ELP about ESG tracking and its value
- Kristina Wyatt, Chief Sustainability Officer and Deputy General Counsel, Persefoni, and former head of the SEC Task Force developing the proposed climate risk disclosure rules.
- Joan on “Doing Sustainability” podcast about sustainability and ESG, including the SEC rules
- Jean Case, Case Foundation, on the proposed SEC climate rules and investing
- Polly Trottenberg, Deputy Secretary of Transportation, on the transformation of the transportation sector and Infrastructure Investment Act and Inflation Reduction Act
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