RIP Joel Gay, CEO of Vangaurd Renewables. Joel Gay was the CEO and President of Vanguard Renewables and was one of the youngest Black chief executives running a public company. He studied at the Booth School of Business at the University Of Chicago for an MBA in finance concentration. He became the President and CEO of Vanguard Renewables in June of 2021. Joel’s Mission: "My passion has long been creating and accelerating the development of technologies that solve hard problems and make both industries and the environmental economy in which they reside more sustainable." You will be missed.
Commentary: How to Do ESG at Scale!
When thinking about ESG issues, risks and opportunities in the context of the 5-Pillar rCFO Framework (see graphic above), one comes away with the understanding and insight that the CFO is a strategist for the business. Much more than planning, accounting, treasury and reporting, the CFO is increasingly seen as the person most responsible, other than the CEO, for the overarching ESG/SDG strategy –– top to bottom.
We are fast-approaching the INTEGRATE21 Conference on Nov. 8-10, the event that helps the CFO transform the traditional finance function into a regenerative finance function, through ESG innovation, investment, and reporting.
So … who should attend? And why? The “Who” is simple: all senior financial executives, institutional investors, and/or sustainability executives who needs to learn how to adopt, operationalize, and execute ESG strategies at scale.
The “Why” is actually just as simple: This is the only conference that is about what and how, not why. INTEGRATE21 will teach CFOs and other senior financial executives what to do and how to do it. This is a deep-dive conference for CFOs who know the right thing to do and are now needing information on how to make it happen.
We have built the agenda so that:
The mainstage virtual sessions (with the Free Starter Pass — thank you to our sponsors) help educate senior financial executives in relation to the whole of the ESG opportunity;
The break-out sessions (with the $99 All-Access Pass) are recorded, bundled and on-demand for those who want the entire experience. This will consist of approximately 25 recordings; 5 sessions for each of the 5 Pillars in the rCFO Framework.
To learn more about how to become a regenerative finance organization and move capital towards ESG innovation at scale, please join us at the VIRTUAL INTEGRATE21 Conference, held November 8-10. (Now only three weeks away!)
Join us at INTEGRATE21!
We are excited to announce that the INTEGRATE mainstage, thanks to the generosity of our partners and our abilities with virtual events, will be available free to everyone who registers. Thank you to all our sponsors for making this a great option for us. This Starter Pass will include access to all the live, mainstage sessions all three days, including all the tech demos on Wednesday. For $99, you can upgrade at any time to an All Access Pass for a library of 25 recorded, on-demand sessions that zoom in on each of the five pillars in the rCFO framework in addition to recordings of all the live, mainstage sessions.
1. Please read Satya Nadella’s Letter to Microsoft’s Shareholders. In it he discusses the responsibility of Microsoft, and business in general, to people, communities, and the environment. His 4 Pillars are: support inclusive economic opportunity; protect fundamental rights; commit to a sustainable future; and earn trust. Enjoy! (Note: This is not an endorsement of Microsoft, but rather how a CEO shows up when they understand the bigger picture and the broader implications.)
2. We’ve been getting to know Andrew Rodriguez, the CEO of Change Finance, over this past year. In these discussions, we recently learned about their ESG ETF on Ethos: CHGX, and its recent carbon neutrality certification, which is the first of its kind in the U.S. on Ethos. “With the urgency of addressing climate change, mutual funds and ETFs have an important role in helping to finance the transition to a sustainable economy. Ethos applauds Change Finance for its commitment to measurable carbon neutrality and for raising the bar on climate impact for ETFs or mutual funds. Through the Carbon Neutral Certification process, Ethos performs an independent analysis of a fund’s carbon footprint and carbon credits (offsets) to verify whether the fund is carbon neutral during a specified period. The carbon footprint consists of verified Scope 1 and Scope 2 emissions of every holding of the fund. Verification includes widely-used statistical methods such as linear regression to compare company self-reported emissions to peers and expected emissions.” Congrats Andrew and the entire Change Finance and Vident Investment Advisory teams. If interested, here is a link to their CHGX Prospectus.
Recent Insights and News for CFOs
McKinsey | The significant role of CFO as strategic advisor to the CEO. “CFOs say their time on transformations would be best spent on role-modeling new mindsets and behaviors, setting high-level goals, and communicating the transformation’s results,” the consultancy wrote. “When, in practice, they’re most often charged with traditional finance-oriented responsibilities.” Many CFOs have found themselves pigeonholed into focusing squarely on their business’s short-term needs, like balance sheet health and cost maintenance. But, McKinsey points out, the longer-term implications of topics like digital, transformation, and ESG standards, also need their leadership and their deep knowledge of the company’s business model and financial position. GOVERNANCE
EFT Trends | Green bonds, which are becoming part of the fixed income component of environmental, social, and governance (ESG) investing, are rising in popularity, putting the spotlight on climate-focused ETFs like the newly introduced FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG). As more companies look to integrate ESG issues, or more specifically climate control, into their core business principles, it’s important to focus on this metric when bonds are offered to the public. INVESTING
Capital⇼Com | How to think about ESG investing, a primer. INVESTING
Yahoo Finance | Pioneering a sustainable future. The need to address the climate crisis is well established. Adding to an already detailed body of climate research, the 2021 IPCC Report from the UN makes clear the critical need for immediate and drastic climate action, and highlights the indisputable link between climate change and human activity. The science is clear – to minimize the damage and avoid reaching an irreversible tipping point, we need to limit global warming to 1.5°C above pre-industrial levels. The 2021 UN IPCC Report reiterates that collectively, we need to halve global greenhouse gas emissions by 2030 and reach net zero before 2050. But even with the reductions achieved in 2020 due to the pandemic (the most since World War II) the world is forecast to miss its annual targets.
Featured ESG Venture/Investor
Welcome Kim Kolt, Founder and CEO of For Good Ventures.
For Good Ventures is an investment firm targeting innovative, disruptive technologies changing the world for good. They invest in for-profit, positive-impact businesses and funds in private markets positioned for scalable, positive change. For Good Ventures invests in companies and funds that fundamentally benefit humanity or the environment as a core focus of their business model. Change happens collectively. As investors in the catalysts for change, For Good Ventures targets companies positioned at the inflection point for significant demand growth, in alignment with rapidly-scaling trends, policy reforms, and the connective fabrics of society.
Founded by Chloé Valdary, ToE, teaches anti-racism in the corporate boardroom and beyond through social-emotional learning. They have a very specific approach to this particular practice that combines popular culture and the arts with a kind of mindfulness understanding of how to fight against and combat prejudice and bigotry. ToE is based upon three foundational principles: Treat people like human beings, not political abstractions. Criticize to uplift and empower, never to tear down or destroy. And, try to root everything you do in loving compassion. The objective of both of those approaches is to get the practitioner embodying these three practices in the workplace and in the community.
Up & Coming Events
See most of the U.S. environmental finance events in this one place.
INTEGRATE21:The virtual conference for regenerative financial executive - Transforming Corporate Finance to Regenerative Finance, through ESG. | Nov. 8-10 — Virtual
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