Sustainability in the corner office: Business and Climate Change

Corporate Knights magazine released the results of its annual ranking of MBA programs in October – unlike most surveys, it includes measures of social and environmental responsibility in the teaching and research at MBA programs around the world . As in previous years, the 2015 Better World MBA survey ranks Canadian universities at the top: for the 12th year, York University’s Schulich School of Business ranked #1, followed by Desautels Faculty of Management at McGill University, and Copenhagen School of Business as #3. And the latest Harvard Business Review ranks the “Best Performing CEO’s in the World” using a changed system: in 2015, long-term financial results achieved by the CEO are weighted at 80%, rather than 100% as before. The remaining 20% goes to Environmental, Social and Governance (ESG) performance.
 

Most telling: business leaders are making sure that their viewpoint is part of climate change policy discussions, especially leading up to and including COP21. Earlier this year, Citigroup bank announced that it would lend, invest, and/or facilitate $100 billion towards climate and environmental solutions, and more recently renounced investments in coal, led by its Environmental and Social Policy Framework document. Coordinated by the Center for Climate and Energy Solutions (C2ES), six major U.S. banks issued a Climate Action Statement in October, as did the CEO’s of ten major food companies, including Mars, General Mills, Unilever, and Kellogg, who issued a joint letter to world leaders. C2ES also released Weathering the Next Storm: A Closer Look at Business Resilience. More businesses signed on to RE100, a global business campaign committed to 100% renewable electricity. And on October 19, the White House announced that 81 U.S. companies, with combined revenue of $5 trillion, have now signed the “American Business Act on Climate Pledge”, launched in July 2015.

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