Week 12: ESG Development Forward

+
GRA 6038 Summary
Exam preparation
 Sustainability – Week 7-12, autumn 2023
Date Topic Agenda + litterature Assignment

Session 7 Sustainable Development Current situation and status of environmental and social (ESG) challenges and opportunities relative to the SDGs,
05.03 Plenary session economic theories and sustainable development, historical perspectives (Chapter 1-3)
Session 8 Corporate Responsibility Opinion Essay Competition
How organizations address sustainability (Chapter 4 & 5)
12.03 4 parallelle workshops – 2 hr (feedback on submission)
Circular economy – new business
Session 9 From a linear to a circular economy – new business models Opinion essay 1: Associated with lecture
models
19.03 (Chapter 6) and readings – more specific info to come
4 parallel classes
Developing a sustainability strategy & implementation, step by step – CASE
(Chapters 7 & 8)
Stakeholder Theory & Guest speakers:
Session 10 Opinion essay 2: Associated with lecture
Sustainability in Practice Jens Ultveit Moe, Founder of Umoe and chairman of the board
02.04 and readings – more specific info to come
Plenary session Gilbert Makore, Regional Director of Extractive Industries Transparency
Initiative (EITI)
Mathilde Emilie Thue, CEO Norwegian-African Business Association (NABA)

Session 11 Climate Change How to address climate change challenges Opinion essay 3: Associated with lecture
09.04 Plenary session Guest speaker: Per Espen Stoknes, BI and readings – more specific info to come

Responsible Investment (ESG),

What is a responsible company? Sustainability on a global scale – how to
Session 12 Sustainability in Developing Opinion essay 2: Associated with lecture
measure economic growth in the future and does consumption increase
16.04 Countries, & The Way Forward and readings – more specific info to come
happiness? (Chapters 9,11, & 12)
4 parallel classes
Remember: this is the last day to ask
Sustainability Investment Strategies
3

What is Environmental, Social And Governance (ESG)?

“The Environmental, Social And Governance (ESG) Criteria is a set of standards for a
company’s operations that socially conscious investors use to screen investments.

• Environmental criteria looks at how a company performs as a steward of the natural

environment.
• Social criteria examines how a company manages relationships with its employees,
suppliers, customers and the communities where it operates.
• Governance deals with a company’s leadership, executive pay, audits and internal
controls, and shareholder rights.”

Investopedia, 2017

© Caroline Ditlev-Simonsen
Basics of ESG
- Data Providers
“We focus on sustainability not because we’re
- Morningstar environmentalists, but because we’re capitalists
- Bloomberg and fiduciaries to our clients.”
- Morgen Standley Capital Investments (MSCI) Larry Fink, Chairman & CEO, BlackRock
- RobecoSAM
- Dow Jones Sustainability Index (DJSI)
- Sustainalytics
- Datapoint Collection
- Open source
- Proprietary questionnaires
- ESG Scores
The EU’s new tool to promote real sustainable ESG-investing
ESG in the European Union

Sustainable Finance Disclosure Regulation (SFDR) defines sustainable investments as “investments in an

economic activity that contribute to an environmental or social objective, provided that such investments do not
significantly harm any other environmental or social objectives and that the investee companies follow good
governance practices”.
Eurosif methodology to classify sustainability related investments
Sustainability Models & Frameworks
Focus Case Vinmonopolet
Vinmonopolet

Vinmonopolet - the Norwegian

monopoly for wine and spirits

Vinmonopolet has the exclusive

right to sell spirits, wine and
strong ale with more than 4,7
percent alcohol to consumers in
Norway.
 Elkington’s Triple Bottom Line – 3Ps

“Business success or failure on

sustainability goals cannot be
measured only in terms of profit
and loss. The wellbeing of billions
of people and the health of our
planet and the sustainability
sector’s record in moving the
needle on those goals has been
decidedly mixed.”
-Elkington, 1994
Freeman’s Stakeholder Theory
• Owners
• Employees
• Customers
• Producers
• Importers /Wholesalers
• Media

• Labour unions and representatives

• Future potential employees
• Next of Kin (families and individuals
affected by alcohol abuse)
• Producer’s employees
• Other alcohol monopolies
• Society
• Organisations
• Politicians
Sustainability Strategy Recipe

1. ANCHOR in top management

2.
MAP

6. 3.
REPORT TEST
INTEGRATE
throughout the
company

5. 4.
IMPLEMENT LAUNCH

Caroline D Ditlev-Simonsen
 Strategy recipe
for integrating sustainability
in organizations

1. ANCHOR in top management Top management

Mission
Clear strategy
2.
MAP

6. 3.
REPORT TEST
INTEGRATE
throughout the
company

5. 4.
IMPLEMENT LAUNCH

Caroline D Ditlev-Simonsen
 Strategy recipe
for integrating sustainability
in organizations

1. ANCHOR in top management

• What is the company’s

2. environmental and social
MAP impact?
• Who are the
stakeholders?
6. 3. • Materiality?
REPORT TEST • What are relevant SDGs?
INTEGRATE • Today’s status
throughout the • Develop plan with
company concrete goals

5. 4.
IMPLEMENT LAUNCH

Caroline D Ditlev-Simonsen
 Strategy recipe
for integrating sustainability
in organizations

1. ANCHOR in top management

2.
MAP • Consult
stakeholders with
the plan
6. 3. • Revise plan
REPORT TEST
INTEGRATE
throughout the
company

5. 4.
IMPLEMENT LAUNCH

Caroline D Ditlev-Simonsen
2021
2024
 Climate goal 2021

Reduce our CO2 emissions (scope 1, 2 and 3)

with

50% by 2030
(reference year 2018)
Climate goal 2024
 CO2 footprint of wine packaging per Litre
1400
1300

1200

1000

800

675
600
525

400

245
190
200
96 85 70 63
0
 Commitment to address and act on Salient Risks

Salient risks:
• Occupational health and safety
• Freedom of association and collective
bargaining
• Discrimination, violence and
harassment
• Forced labour and human trafficking
• Decent wages and working hours
(allowing for a Living wage)
• Access to remedy
 Examples of Projects

Water, Rest, Shade and Sanitation Creating programs based on risk Creation of a joint Roadmap for all
assessments Nordic Alcohol Monopolies
 Strategy recipe
for integrating sustainability
in organizations

1. ANCHOR in top management

2.
MAP

6. 3.
REPORT TEST
INTEGRATE
throughout the
company
• Communication - Use
different channels
internally (employees,
5. 4. meetings etc.)
IMPLEMENT LAUNCH • Use different channels
externally (products,
dialogue)
Caroline D Ditlev-Simonsen
 Strategy recipe
for integrating sustainability
in organizations

1. ANCHOR in top management

2.
MAP

6. 3.
REPORT TEST
INTEGRATE
throughout the
company

• Check 4.
5.
• Track progress IMPLEMENT LAUNCH
• Who is responsible?

Caroline D Ditlev-Simonsen
 Strategy recipe
for integrating sustainability
in organizations

1. ANCHOR in top management

2.
• Transparency MAP
• Achievement?
• According to plan?
• Share findings 6. 3.
REPORT TEST
INTEGRATE
throughout the
company

5. 4.
IMPLEMENT LAUNCH

Caroline D Ditlev-Simonsen
Examples of Reporting 2023
Remember: this is the last day to ask
Good luck!