Committing to ESG Outcomes

• Environmental, social, and governance principles are an integral part of risk management and strategy planning for businesses.
• In redefining metrics of success, organization should consider community resiliency, environmental impact, and business operations.
• Upskilling and personal development on societal impact topics are the responsibility of both companies and employees alike.

Transcript

Corinne Dougherty: [0:15] Embracing ESG unlocks value for organizations that prioritize environmental, social, and governance principles, which helps lead to better business by unlocking new value, building resiliency, and also driving sustainable growth today, and into the future.

Austin Okere: [3:35] There are very severe sustainability issues that we're dealing with globally. There is a complexity of risk and opportunities. There is a complexity regarding how to exploit those risks and opportunities in a sustainable manner, in a manner that does not cater to all our greed, but more of our need. We have to realize, that the Earth cannot meet all our greed, nor can it be a place that will absorb all our waste.

[T]he cost of inaction will be higher than the cost related to the investments we need to do now. I would suggest, anyone who is involved, don't wait.

Jan-Willem Vosmeer: [1:06] Sometimes, people say, "Well, you cannot be profitable and sustainable at the same time." I would argue that, because I think they can combine well together. Already, when you look at it from a costs point of view, of course, sometimes you need to take a little bit more time to get return on investment.

[1:24] But I know one thing for sure, specifically when we look at climate action, and maybe also in topics on water, is the cost of inaction will be higher than the cost related to the investments we need to do now. I would suggest, anyone who is involved, don't wait. Start taking action now, because we do not have so much time left.

Amy Hall: [1:54] A socially conscious brand is one that has truly integrated the concepts of social and environmental impact throughout its ethos, and throughout all of its operations. For an organization to stay true to its goals that they're making around societal impact, I really think it's important to reconsider how a business measures its own success.

[2:18] Not just based on the financial bottom line, but based on its performance in the community, or on behalf of its employees and the people in its supply chain, and the environment. It's imagining the total impact they're having, not just financially, but socially, and environmentally as well.

For an organization to stay true to its goals that they're making around societal impact, I really think it's important to reconsider how a business measures its own success.

Dougherty: [2:36] Companies can incorporate ESG into their strategies by first determining, "What are those material topics that are important to us as an organization?" by engaging in stakeholders, whether that's employees, customers, and investors.

[2:49] Once companies figure out "What are those material topics that are important to us?" it's a matter of determining, how is the organization going to change their processes in order to implement those new goals and strategies?

[3:02] Then the last part is really thinking about, what are those metrics that companies are going to report on to be transparent in how they're meeting and working towards achieving their ESG goals?

You can offer as a company to help [upskill employees], but I think it's also a personal challenge or a personal, actually, assignment, to really look around you and to absorb the information you see in the media.

Vosmeer: [3:13] I think there's so much going on in the sustainability space, in terms of topics like climate change, and human rights, but also think about regulation, reporting, and governance, that as leaders, you need to get skilled. But also think about making sure that your employees are getting upskilled.

[3:34] Of course, there are a lot of external courses you can do, but we also take now effort inside the company, inside Heineken, to have an academy so that people really can learn about net zero, what the process is to get to net zero, human rights, etc.

[3:54] You can offer as a company to help them, but I think it's also a personal challenge or a personal, actually, assignment, to really look around you and to absorb the information you see in the media, but also on conferences, etc.