ESG
&
INTRO TO FUTURE LEADERS CHALLENGE
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
Lectures 9A, 9B and 10A
WINTER 2025
Learning Outcomes 1 and 2:
Using the Laurier Competency Framework, identify, describe,
and demonstrate the competencies expected in university
learning and professional environments.
D AT E | M O N T H | Y E A R
Using current and complex business topics, explain and apply
Presented by
critical thinking
itsName
following five dimensions:
First Namein
Last
- claims, evidence, underlying assumptions and values, causal
claims, and techniques of persuasion
BDO Future Leaders Challenge
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
BDO Future Leaders Challenge
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
Intro to ESG
• What is ESG?
• What impact does ESG have on business?
• What are the key terms and concepts?
• How has the ESG movement developed and evolved?
D AT E | M O N T H | Y E A R
• How isPresented
ESG being
reported and regulated?
by
Firstsome
Name Last
Name ESG issues and strategies?
• What are
specific
• What/who are some examples of companies and individuals making ESG
progress?
• What are some opportunities to explore ESG as a student?
Let’s begin with your thoughts…
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
What is ESG?
What is ESG and what does it mean for your business? (BDC, n.d.)
Simple guide to ESG (Corporate Governance Institute, n.d.)
• Set of practices and metrics used to evaluate a company’s impact in three areas
• E = Environmental, S = Social and G = Governance
• E = energy use, greenhouse gases, water use, pollution, waste, materials, encroachment on
natureD AT E | M O N T H | Y E A R
• S = labour
practices,
Presented
by human rights, employee health and well-being, diversity, equity & inclusion,
impactFirst
on community,
impact on customers
Name Last Name
• G = company’s management and decision-making processes, internal controls/audits, board
government oversight, executive pay, shareholder rights, transparency
• WARNING:
• Despite having three categories, they are not separate!
• Know that you can’t tackle one without considering the impact on the others!
What impact does ESG have on business?
• ESG involves elements that directly impact a business’ ability
to operate
• Allows business to be evaluated on factors other than just
financial performance
• Who is evaluating?
• Externally – investors/lendors/financial markets, employees,
government,
suppliers,
D AT E | M O N
T H | Y E A R customers – thereby influencing reputation
• Internally - management
Presented by
• Incorporates
Firstfinancial
Name Lastand
Namenon-financial issues involved in
managing business more holistically, comprehensively, and
long-term
• Changes how risks and opportunities are measured and managed
• Allows companies to show stakeholders that they are mitigating risks
and planning for a changing future
• Acknowledges that business relies on society and
environment
Sustainability Advantage, 2019
What are the key terms and concepts? (From Science Based Targets Glossary & Selected Sources)
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
Sustainability
Just Transition
Climate Tipping Point
Paris Agreement
Science Based Targets
Planetary Boundaries
Sustainable Development
United Nations Sustainable Development Goals
https://sdgs.un.org/goals
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
What are the key terms and concepts? (From Science Based Targets Glossary & Selected Sources)
WORD MATCH - WRITE THE LETTER OF THE CORRECT MATCH IN THE DEFINITION LETTER COLUMN
Term
Number
Term
Definition
Letter
Definition
1
Greenhouse Gasses
(GHGs)
A. Financial flows (such as lending, equity positions, or underwriting and advisory services)
associated with zero- or low-carbon assets or activities.
2
GHG Externality
B. Financial flows toward activities and technologies that contribute significantly to GHG
emissions.
3
AT E | M O N T H | Y E A R
Green DFinancing
C. Gasses which absorb and re-emit infrared radiation, thereby trapping it in Earth’s
atmosphere and causing the GHG effect.
4
Presented by
First Name Last Name D. The act of making false or misleading statements about the environmental benefits of a
Grey Financing
product or practice.
5
Greenwashing
E. Most of the impacts of GHG emissions do not fall on those conducting the activities –
instead they fall on future generations or people living in developing countries – so those
responsible for the emissions do not pay the cost. The adverse effects of GHGs are
therefore “external” to the market.
6
Greenhushing
(netzeronow.org)
F. The practice where companies underreport or deliberately without information about
their environmental efforts and achievements, usually due to fear or criticism, skepticism,
and the desire to avoid the spotlight until substantial results are achieved.
What are the key terms and concepts? (From Science Based Targets Glossary & Selected Sources)
Term
Definition
Carbon Neutral
(planaearth.com)
Any CO2 released into the atmosphere from a company’s activities is balanced by an
equivalent amount being removed.
Net-Zero Carbon Emissions
(planaearth.com)
Activity that releases no carbon emissions into the atmosphere. Often short formed to
net-zero.
Nature Positive/Net Positive An approach that enhances ecosystems, our planet and our societies (instead of simply
D AT E | M O N T H | Y E Adoing
R
(weforum.org)
less harm). Net positive is a similar term i.e. a business approach in which a
company puts back more in society, the environment and the global economy than it
Presented by
takes out.
First Name Last Name
Negative emissions
Removal of GHGs from the atmosphere by deliberate human activities (in addition to the
removal that would occur via natural carbon cycle processes).
What are the key terms and concepts? (From Science Based Targets Glossary & Selected Sources)
WORD MATCH - WRITE THE LETTER OF THE CORRECT MATCH IN THE DEFINITION LETTER COLUMN
Term
Number
Term
Definition
Letter
1
Carbon credit
A. The process by which countries, individuals or other entities aim to achieve zero fossil
carbon existence; typically refers to a reduction of the carbon emissions associated with
electricity, industry and transport.
2
Carbon pricing
B. A process in which a relatively pure stream of CO2 from industrial and energy-related
sources is separated (captured), conditioned, compressed and transported to a storage
location for long-term isolation from the atmosphere. Usually the CO2 is captured from
large point sources, such as power generation or industrial facilities, and then stored
permanently in an underground geological formation.
D AT E | M O N T H | Y E A R
3
4
Definition
Presented by
Name Last Name C. A tradable unit that represents one metric tonne of avoided GHG emissions, reduced
CarbonFirst
dioxide
capture and storage
(CCS)
GHG emissions or GHG removals.
Decarbonization
D. An instrument that captures the external costs of GHG emissions – the cost of emissions
that the public pays for, such as damage to crops, health care costs from heat waves and
droughts, and loss of property from flooding and sea level rise – and ties them to their
sources through a price, usually in the form of a price on the CO2 emitted.
https://davidsuzuki.org/what-you-can-do/carbon-pricing-explained/
What are the key terms and concepts? (From Science Based Targets Glossary)
Term
Definition
Defense
Adaptation
Adjustments in ecological, social or economic systems in response to actual or expected climatic stimuli
and their effects or impacts.
Adaptation refers to changes in processes, practices and structures to moderate potential damages or to
benefit from opportunities associated with climate change.
NOTE: Canada has created a national adaptation strategy that can be found at
https://www.canada.ca/en/services/environment/weather/climatechange/climate-plan/nationalD AT E | M O N Tadaptation-strategy.html
H | YEAR
Mitigation
A human intervention to reduce emissions or enhance the sinks of GHGs. (Sink is any biological or
Presented by
First Nametechnological
Last Name process, activity or mechanism that removes GHGs from the atmosphere).
Offense
Mitigation Hierarchy
The mitigation hierarchy in the context of corporate climate action consists of a series of steps, in the
following order of priority:
1) AVOID: measures taken by companies to avoid creating value chain emissions from the outset
2) REDUCE: measures taken by companies to reduce the intensity and/or extent of GHG impacts in the
value chain that cannot be completed avoided
3) Take responsibility for value chain emissions that continue to be released into the atmosphere by
driving climate mitigation outside of the company’s value chain.
What are the key terms and concepts? (From Science Based Targets Glossary)
Term
Definition
Scope
Term used in GHG accounting to
indicate the classification of an
organization’s GHG emissions
according
to the GHG Protocol
D AT E | M O N T H | Y E A R
Corporate Standard.
Supply
Chain
A supply
chainName
is the Last
entireName
system
First
of processes and resources
required to produce and sell a
product from start to finish,
typically starting with raw materials
and ending with the customer in
possession of the product.
Presented by
How has the ESG movement developed and evolved?
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
How has the ESG movement developed and evolved?
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
So…what’s happened at a high level?
• Shift from Pre to Post Industrial Revolution (Dr. Kalimipalli, ESG Finance Prof)
Full
World
Empty
World
D AT E | M O N T H | Y E A R
Presented by
First
Name Last
Abundance
of Name
goods and
services from
nature
“We couldn’t
possibly run
out…”
 Technological advances
dependent on fossil fuels
and other raw materials
 Massive production and
consumption
 Economic and population
growth
David Horsey
Increasing
scarcity of
resources
“Uh-oh….”
So…what’s happened at a high level?
Short Term
•
Prioritize
maximizing short-term
profits for shareholders
•
Efficiency at all
costs
•
Reductionist and
private decision-making
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
-
Prioritize maximizing longterm results for all
stakeholders
-
Resiliency and balance
-
Integrative and transparent
decision-making
Long Term
But is it
changing
again?
How has the ESG movement developed and evolved?
Canadian example:
Indigenous
knowledge un
However, their
derstood that
practices were
human
D AT E | M O N T H | Y E Aincreasingly
R
systems are a
ignored
Presented by
part of,
andName Last Name
during and
First
must remain in
after Industrial
balance with,
Revolution
ecosystems
• Management of parks and natural lands was
focused on needs of recreationists and
government revenue generation, not
preserving the health and well-being of
nature
• Indigenous Peoples were obstacles to the
enjoyment of nature and were often forced to
relocate or were forced to drop the practices
that were critical to biological diversity
How has the ESG movement developed and evolved?
• As part of overall shift in 21st century toward
reconciliation with Indigenous Peoples and realization
that ecosystems were at risk, science community began
‘listening’ to traditional knowledge
• In Canada, an Indigenous Circle of Experts (ICE) was
formed in 2017
• “the time has come for Indigenous knowledge systems,
D AT E | M O Nand
T H |customary
YEAR
legal traditions,
and cultural practices to be
recognized as equally valid and binding versus other
Presented by
frameworks”
First Name Last Name
- (We Rise Together Report, 2018)
• Our Land for the Future fund:
• collaboration between government, industry and
Indigenous Peoples
• $300 million from federal government and $75 million
from private donors
• Much more reconciliation work to be done in all three
areas of ESG
How has the ESG movement developed and evolved?
From Compliance to Courage in ESG (Boston Consulting Group, 2022)
Many companies still treating
ESG measures as acts of
compliance, altruism, or
corporate responsibility
D AT E | M O N T H | Y E A R
• Risk: stakeholders
holding
companies
to account
Presented
by + socially
First investing
Name LastisName
responsible
accelerating + without a habitable
planet, you have no business
• Reward: ESG driven companies
perform better financially + attract
and retain talent + contribute to a
habitable planet
True ESG strategy =
how a company
makes its money,
not what it
does with the
money it makes
Four
Principles:
• Commit
• Commercialize
• Get
unComfortable
• Cooperate
How is ESG being reported and regulated?
• ESG standards and
frameworks are consolidating
• International Sustainability
Standards Board (ISSB) was
formedD ATby
International
E | MONTH | YEAR
Financial Reporting Standards
Presented by
(IFRS) Foundation
in 2021
First Name Last Name
• High-quality, comprehensive
global baseline of sustainability
disclosures
• TCFD transferred its
responsibilities to ISSB in
December 2023
Delphi, 2024
How is ESG being reported and regulated?
https://www.linkedin.com/pulse/
key-takeaways-bill-c-59-3-reasons-why-we-need-calm-down-mike-gerbis-zowvc
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
Co2ti.com/esg-history/
“Many jurisdictions around the world are
already actively considering their adoption
roadmaps and pathways toward mandatory
application or other use of ISSB Standards,
and we are encouraged by significant
developments across all regions.” – IFRS
Delphi, 2024
https://www.frascanada.ca/en/cssb/news-listings/2024-feedback-statement-media-release
Specific ESG Issues & Strategies - Environment
On one hand, climate change exposes
companies to climate-related risks,
which include physical and transition
risks and expose companies to
potential negative financial impacts.
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
On the other hand, companies can
identify climate-related opportunities
in the transition to net zero which can
lead to potential positive financial
impacts.
Specific ESG Issues & Strategies - Environment
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
Specific ESG Issues & Strategies - Environment
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
Specific ESG Issues & Strategies – Environment & Social
Beyond Environmental Impact:
The Case of Social in ESG (Deloitte, 2023)
Sustainable Procurement
• collaborating with their suppliers, to move beyond
human rights audits and towards improving the
D ATchain
E | MON
TH | YEAR
way supply
management
affects peoples’
lives
Presented by
• committing
toName
a ‘justLast
transition’
First
Name to sustainability
• more than 800 million jobs are highly
vulnerable to climate extremes and economic
transition impacts
• policies need to promote a fair, inclusive, and
equitable transition towards a global economy
in balance with its environment
Sustainability at Unilever - The Value Chain - YouTube
“Scope 3 emissions are often the largest
source of emissions for organizations.
Since these emissions are from your
value chain, the most impactful way to
address these is by partnering with
suppliers to integrate ESG principles
throughout the value chain, focusing on
decarbonization efforts like sustainable
raw material sourcing, optimized
logistics, and energy efficiency.
Considering related ESG aspects, such as
labour practices and DEI, can also
enhance these efforts and drive deeper
decarbonization outcomes.”
– Nic Raytek, WLU Alum and Senior Manager,
Sustainable Programs, Globe Series
Specific ESG Issues & Strategies – Social
• Social issues impact customer trust and loyalty,
investor confidence, and employee satisfaction
• Employees care about how they are treated
AND care how other stakeholders are treated
D AT E |in
M Oevery
N T H | Y E A industry
R
• managers
face a talent
challenge
Presented by
First Name Last Name
• if employees’ needs aren’t met, they will
leave and if they can’t leave, they may
‘quiet-quit’
Deloitte, 2023
Specific ESG Issues & Strategies – Social
Our changing psychological contract with work (Ferrazzi, 2023)
Traditional
Perspective on Why
People Work
Current Perspective on Why People
Work
• pay cheque, benefits, • belonging, meaning, purpose, selfjob security
actualization, support for whole self,
D AT E | M O N T H | Y E A R
• ‘transactional’ model
authenticity
Presented by
• ‘holistic’ model
First Name Last Name
• employees experiencing a strong sense
of belonging (BetterUp, 2020)
• 56% increase in performance
• 50% reduction in turnover risk
• 75% decrease in employee sick days
• 167% more likely to recommend
their organization to new employees
Why the shift?
• loyalty has decreased on
both sides
• employee burnout
• significant demographic
shift, new employees
hold different values
• pandemic increased
feelings of isolation and
loneliness + challenged
perspectives/values
Specific ESG Issues & Strategies - Social
Traditional Approach on
Where People Work
Current Approach on
Where People Work*
• 83% of employees prefer a
hybrid model and only 35%
are satisfied with employer’s
D AT E | M O N T H | Y E A R
current arrangements
Presented by
(Accenture, 2022)
First Name Last Name • What do managers prefer?
• *What type of employees
are we discussing?
Pexels – Fauxels, 2024
Why the shift
Pexels – Richelieu, 2024
FreePik – StudioGPhotos, 2024
Pexels – Spiske, 2024
Pexels – Shkraba, 2024
Specific ESG Issues & Strategies – Social
Traditional Approach on
How People Work
Current Approach on How Why the shift
People Work
• before 1990s
• Monday to Friday, 9 – 5,
no contact outside
‘business hours’
• 2000s onward
D AT E | M O N T H | Y E A R
•
“always on”
Pexels
– Thirdman,
2024
Presented by
First Name Last Name
• 1990s
• Flexible days & hours
• leveraging technology for
communications and
productivity
• considering how to work
alongside AI
• no “one-size-fits-all” answers
•
•
•
•
nature of the work being done
technology
pandemic
demographic shifts
Specific ESG Issues & Strategies – Social
Where Does DEI Go from Here? (Roberts, 2023)
• Slowdown in adoption of DEI
• Reframe focus as creating conditions for all workers to flourish
• Foster four freedoms to benefit employees and employers
D AT E to
| M be
ONTH | YEAR
o Freedom
o Freedom
to become
Presented
by
First Name Last Name
o Freedom
to fade
o Freedom to fail
"granting freedoms
to one group does
not inherently take
them away from
another"
Specific ESG Issues & Strategies - Social
https://financialpost.com/news/retailmarketing/costco-defends-diversity-policiesscale-back
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
Specific ESG Issues & Strategies – Governance
Defining the ‘G’ in ESG (World Economic Forum, 2022)
• There is no ESG without the G!
• G is HOW E and S activities get done, measured, advanced
• ineffective corporate governance leads to breaches in a company’s
D AT to
E | M
O N T H |EY Eand
AR
ability
meet
S
• PLUSPresented
corporate
by governance affects the integrity of all ESG disclosures,
First Name whether
Last Name ESG metrics are ethically pursued and reported
determining
• essential in ensuring that ESG strategies translate into concrete action
and system change
Specific ESG Issues & Strategies - Governance
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
Specific ESG Issues & Strategies - Governance
• Key challenges to making governance progress
• Social - DEI
• Most individuals in charge of programs are unaware of navigating the world
without privilege
• Senior
leaders are looking for an easy solution to a complex problem i.e. focus
D AT E | M O N T H | Y E A R
only on talent pipelines when they also need to tackle entry barriers
Presented by
First Name
Name– Executive Compensation
• Governance
& Last
Social
• incentives to compensate based on financial results leads to the CEO taking
actions that boost the short-term stock price at the expense of long-term value
Company Examples of ESG Progress
https://sciencebasedtargets.org/companies-taking-action/case-studies/
Beyond Environmental Impact: The Case of Social in ESG (Deloitte, 2023)
Sustainable Waterloo Region Award Winners (SWR, 2023)
https://sciencebasedtargets.org/companies-taking-action#dashboard
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
Company Examples of ESG Progress
https://www.corporateknights.com/rankings/best-50-rankings/2024best-50-rankings/
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
Laurier Alumni Working (and Thriving) in ESG
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
Nic Raytek
Senior Manager, Sustainable Programs at GLOBE
Series, Canada’s Clean50 Emerging Leader
Laurier Alumni Working (and Thriving) in ESG
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
Opportunities to explore ESG as a student
https://www.lauriersib.com/
https://lazsoc.ca/pages/spark-sib
D AT E | M O N T H | Y E A R
https://www.instagram.com/siblaurier/
https://www.yourstudentsunion.ca/ecohawks
https://www.enactuslaurier.ca/
Presented by
First Name Last Name
https://www.wlu.ca/about/discoverlaurier/sustainability/index.html
https://www.linkedin.com/company/internati
onal-students-overcoming-warisow/?originalSubdomain=ca
https://www.linkedin.com/company/esglaurier
/posts/?feedView=all
Parting Thoughts about ESG for Gen Z
• Optimism stigma exists
• Optimism ≠ blind optimism
• Optimism ≠ excuse for inaction
• Pessimism sounds smart and takes a safe
stance while optimism is risky
D AT E | M O N T H | Y E A R
• EffectivePresented
optimists
need criticism
by
First Name Last Name
• It is possible
to solve our environmental
problems
• “If we’re serious about tackling the world’s biggest
problems, we need to be more optimistic. We need
to believe that it is possible to tackle them and lean
in – critically – to the things that will make that
vision a reality.”
https://www.youtube.com/watch?v=Kl3VVrggKz4
Parting Thoughts about ESG for Gen Z
“This is a very heavy topic and reality for a lot
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
of youth. We have inherited a dying climate
with a very uncertain future and are being told
we’re the last ones to do anything about it. We
are so constantly bombarded with bad news
and its overwhelming.
Don’t overexaggerate, but don’t go the route
of everything is shit. Highlight the work that is
being done, show it as a given and no matter
where you go you will need to know this, and
here are the real things you can do in your
roles to start.”
- Nik Raytek (2024)
- Image: SolarQuarter
BDO Future Leaders Challenge
• How does critical thinking apply?
• How can your solution incorporate argument elements?
D AT E | M O N T H | Y E A R
Presented by
First Name Last Name
How to apply critical thinking elements to project
SITUATION (RESEARCH)
SOLUTION (CLAIM)
The local partners will be
After completing your
attending a conference and
research & analysis:
are asking for strategies that
• brainstorm solutions for the
consulting firm’s mid-sized,
will allow their mid-sized,
privately owned clients in the
privately owned clients in the
given industry to address ESG
given industries to address
• offer complete, feasible and
ESG
innovative solutions
D AT E | M O N T H | Y E A R
• research and summarize the
industry opportunities & threats
Ways to brainstorm
Presented by
• research and analyze ESG's
solutions:
NameinLast Name
importance andFirst
implications
• New trends
the given industry
• New technology
• Case studies
The conference is June 2025,
• Consider what you would
requiring the research and
want as a future employee
solutions to be relevant
and feasible in the current
timeline
• ensure research and analysis is
current and forward-looking
REASONS WHY
SOLUTION MAKES
SENSE (EVIDENCE)
RISKS & MITIGATION
(OBJECTIONS &
REBUTTALS)
Incorporate relevant and
timely analysis, stats, case
studies
Address audience's
doubts and show that you
recognize the challenges
in pursuing your solution
Connect evidence to
situation, demonstrating
that solution addresses the
unique context of the issue
and industry
Avoid use of unrealistic
assumptions
Avoid making questionable
causal claims
Reinforce benefits of
pursuing your solution