Dunya Jovanovic. Hi Gerald, can you introduce yourself to our audience and tell us a little about your background?
Gerald J Leonard: My name is Gerald J Leonard, and I am the CEO of two companies. Today, we’ll be discussing Turnberry Premiere. One of our Fortune 500 clients asked us to become a preferred supplier and to evaluate our sustainability efforts. This motivated me to delve deeply into sustainability. My background includes over twenty-five years as a certified project, program, and portfolio management consultant. This experience involves working with companies to select projects, identify portfolios, and execute large-scale projects in complex environments. When I began learning about sustainability, I realized that capturing a carbon footprint and reporting on carbon reduction is similar to the processes in a project management office. Using project management skills and tools, I could apply them to sustainability and carbon accounting. Additionally, my background as a musician taught me valuable lessons about teamwork, practice, finding the right mentors, and building a cohesive team, all of which I've applied to business growth and sustainability.
DJ: Tell us more about your sustainability journey.
GL: The sustainability journey involved attending workshops, reading key books, and recognizing that sustainability is a framework and process aligned with business strategy. It's about being better partners with our climate, recycling, reusing resources, and engaging in sustainable practices. Partnering with Greenly, a software-as-a-service platform for carbon accounting, has been crucial. They provide a tool that simplifies the process, allowing us to capture our carbon footprint and identify areas for reduction. This tool and my background in project management have enabled us to create sustainability services for medium-sized to small businesses, helping them meet requirements from larger Fortune 500 companies.
DJ: What are the key steps to fostering a culture of sustainability within a company?
GL: To create a culture supporting sustainability in a company, start with a clear vision and values. Ensure everyone is on the same page regarding sustainability goals. Share compelling stories to align the team with the company's direction. For example, our story about becoming a preferred supplier due to our sustainability efforts helped get everyone on board. It's also crucial to develop best practices and create an environment that supports sustainability, both technically and physically. Finally, emphasize a culture of execution, where processes and systems are in place to achieve sustainability goals.
DJ: How do employees react when they need sustainability-related training or education?
GL: Employees have generally responded well, especially because Greenly's platform integrates educational short videos into the survey process. This approach makes the training seamless and informative, without requiring separate sessions. It helps employees understand their impact and how their actions contribute to the company's carbon footprint, making them more engaged and aware.
DJ: What challenges did you face while implementing sustainability strategies into your business models?
GL: The main challenges involved educating everyone about the process and ensuring they understood its importance. Even with simple processes, some employees were slow to provide necessary data, requiring follow-ups. Additionally, implementing sustainability practices can be complex and require expert guidance. Partnering with Greenly provided the expertise, making it easier to navigate the complexities and achieve our sustainability goals.
DJ: What are some common misconceptions about sustainability in business?
GL: One misconception is that tools like EcoVadis, which focus on high-level ESG processes, are sufficient. While important, they must provide the detailed carbon footprint data necessary for targeted reduction efforts. Another misconception is that sustainability efforts are just about recycling and reusing, without the rigor of capturing and analyzing carbon data. Real data allows companies to focus on the most impactful areas for carbon reduction, avoiding "greenwashing."
DJ: How do you measure the impacts of sustainability efforts?
GL: We measure impacts using science-based targets, which are certified by third-party organizations. These targets help us identify areas of significant carbon impact and track our progress over time. It's a long-term effort, often taking two to three years to see substantial reductions. Having concrete data points and metrics allows us to monitor and adjust our strategies effectively.
DJ: Carbon is just one aspect. What other areas should companies focus on to reduce their environmental footprint?
GL: Besides carbon, companies should consider water usage, recycling, sustainable office practices, and renewable energy. Implementing lead-type buildings, using sustainable cleaning methods, and other eco-friendly practices can also contribute significantly to reducing the overall environmental footprint.
DJ: Integrating sustainability strategies can be financially demanding. How can companies do this effectively without losing profits?
GL: Effective integration involves using portfolio management principles. By allocating a specific percentage of the budget to transformational projects, growth initiatives, and maintaining current operations, companies can balance sustainability investments with profitability. Conducting thorough cost-benefit analyses and having a rigorous project selection process ensures that sustainability projects align with the company’s strategic goals and provide a positive return on investment.
DJ: How can companies effectively engage senior leadership to support and invest in sustainability initiatives?
GL: Engaging senior leadership through a structured project approval process also helps. When leaders see the financial and strategic benefits of sustainability initiatives, they are more likely to support and invest in them. This structured approach ensures that sustainability efforts contribute to the company’s long-term success.
DJ: Do you believe adopting ESG and sustainability strategies can help companies differentiate themselves in the market and attract investors?
GL: Investors are increasingly looking for companies with strong sustainability practices. These companies are seen as responsible and forward-thinking, which attracts investment. Additionally, the younger workforce is more concerned about sustainability, and companies that prioritize these values attract talented and dedicated employees.
DJ: Do you think having mandatory sustainability laws will change the business landscape?
GL: Yes, mandatory sustainability laws will likely become more prevalent and will significantly impact businesses. Countries in the EU already have such laws. Even without laws in the US, many Fortune 500 companies require their suppliers to comply with international sustainability standards. As consumers and investors become more aware, the demand for sustainable business practices will grow, making it beneficial for companies to adopt these practices proactively.
DJ: What emerging trends in sustainability do you believe will impact businesses in the next five years?
GL: Artificial intelligence will significantly impact sustainability by providing better data and insights for managing carbon footprints. Also, more governments will likely implement sustainability laws and regulations, increasing the pressure on businesses to adopt sustainable practices. These trends will drive innovation and efficiency in sustainability efforts.
DJ For those interested in learning more about sustainability, can you recommend any books or resources?
GL: I recommend visiting my website, Turnberry Premiere, where you’ll find a list of books, videos, and white papers. Some notable books include "From Green to Gold" and "The Chief Sustainability Officer," which offers insights from various chief sustainability officers in large companies. These resources provide valuable knowledge and case studies on implementing sustainability practices effectively.
