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Sustainability Strategy for Service Organizations
Scott Beckerman – Director of Corporate Sustainability
September 14, 2016
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“Never forget: the market is the most powerful institution on the planet, and business the most powerful entity within it…If business does not lead the way toward solutions for an environmentally sustainable, carbon –neutral world, there will be no solution.”
Andrew Hoffman, University of Michigan
Sustainability and Business
“ ‘at this moment in time, almost everything being done in the name of sustainability entails attempts to reduce unsustainability.’ But reducing unsustainability does not and will not create sustainability.”
Andrew Hoffman (quoting John Ehrenfeld)
5
Comerica’s Definition of Sustainability
Comerica understands "sustainability" as an approach to
conducting ourselves in a way that meets the
needs of the present in ways that do not
compromise the ability of future generations to meet
their needs.
6
Sustainability Program Objectives
Develop and implement a strategy for pursuing sustainability and corporate
responsibility in a way that meets the expectations
of shareholders and other key stakeholders AND
that improves business performance by reducing costs, reducing risks, increasing
revenue, and enhancing our reputation and brand.
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Pillars of a Sustainable Enterprise
üWorkplace üWorkforce üProducts & Services üFunctions & Processes üGovernance
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KNOWLEDGE AND
INNOVATION
REVENUES AND
OPPORTUNITIES
COST AND RISK
REDUCTION
LICENSE TO OPERATE, REPUTATION AND BRAND
Value Creation Model In
tern
al Fo
cus External Focus
Starting Focus
Future Focus
Adapted from: Stuart Hart and Mark Milstein, “Creating Sustainable Value”
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We approach sustainability as a way to create business value, now and into the future, in order to address our needs, and the needs of our stakeholders.
Comerica’s Value Creation Approach To Sustainability
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Corporate Sustainability Department
CFO Executive Sponsor
Board of Directors
Sustainability Council
Green Teams
Implementing the Strategy
12
Comerica Core Values
Involvement: ◦ We embrace our critical
role in the communities we serve and acknowledge that our success is intertwined with theirs. We will make sustainability a priority.
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“Recognize that it’s your choice whether to let quarterly Wall Street realities kill your dreams – or to let
them provide the necessary discipline to hone new ideas into
more valuable innovations for the company, society and the planet. If
you find boundaries, don’t whine about them. Get creative!”
Jim Hartzfield
Hartzfield Sustainability Advisors (formerly of Interface)
Realities of Corporate Life…
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Impact Matrix Im
porta
nce t
o Exte
rnal
Stak
ehold
ers
Importance to Comerica
Serving the Underbanked
Environmental Risk
Climate Change and GHG Emissions
Green Lending
Waste Paper
Water Stewardship
Employee Engagement Volunteerism &
Philanthropy
Diversity & Inclusion
Talent Attraction, Retention, & Development
Customer Privacy & Protection
Financial Performance
Indirect Economic Impact
Economic Environment
Innovation & Technology
Credit Risk Customer Education & Financial Literacy
Public Policy & Government Relations
Board Diversity
Responsible Marketing & Sales
Community Reinvestment & Development
Cybersecurity
Anticorruption, Ethics & Countering Bribery
Brand & Reputation Mgmt./Reputation Risk
Regulatory Risk/ Compliance
Transparency
High High
Highest
Highest
Maintain awareness!
Are we telling the story?
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Comerica’s Environmental Policy Statement
Comerica Bank is committed to protecting and preserving the environment because we realize that a healthy environment is crucial to the long-term well-being and prosperity of the people, businesses, and communities we serve…We seek supplier partners who share our values and concerns and are conscientiously attempting to improve their environmental sustainability performance over time.
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Requests for Proposal (RFP)
Supplier Wave Scoring
What are you doing to be more
sustainable?
How can you help us be more
sustainable?
Supply Chain: Two Basic Tools, Two Basic Questions
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Partnership Example: Comerica Shred Days
Contributing to our communities with
relevant and impactful events
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Exploring Our Progress – Opportunities & Revenues
Tracking our “Green Loans”
Supporting our customers:
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1. Consider your business & think broadly about economic, environmental, social, and governance issues. What are your:
- Impacts? - Risks? - Opportunities?
2. Benchmark. What are others in your space doing? What should you adopt? Where do you have an opportunity to lead or differentiate? Are other’s focusing on non-critical issues?
3. Engage. Consult trade groups, customers, other stakeholders. Learn about other’s expectations of your business.
What does sustainability mean to your business?
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1. Develop your company’s business case for implementing a Sustainability Program and present to executive team for approval & support
2. Establish your company’s long-term Sustainability strategy and key commitments
3. Start measuring your environmental data so that you can better manage your impacts
4. Set Sustainability goals 5. Report on company’s Sustainability progress
Sustainability for Any-Sized Business
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1. Executive & leadership support are critical
2. Develop a formal strategy with broad participation
3. Integrate sustainability into culture and business units
4. What gets measured gets managed
5. Goals drive performance
6. Have strong governance & clear responsibilities
7. Communicate progress, share early wins, evaluate setbacks
8. Build relationships & be generous in sharing credit
9. Be transparent & don’t let passions run ahead of progress
10. Ongoing training & engagement is constant challenge
11. Be patient, make incremental progress – you’ll be amazed over time
12. Don’t be afraid to fail; be transformational
Some Lessons Learned, So Far
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“As you move forward and continue your climb, remember that ‘there’s always a better way,’ and ‘knowing’ the answers stunts learning and creativity. Be willing to take unexpected journeys and seek out the crazies around you.”
Jim Hartzfield Hartzfield Sustainability Advisors
(formerly of Interface)
Parting Thought
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