Frank Sherman, Executive Director of Seventh Generation Interfaith
We experienced a record number of extreme weather events in 2017. We also witnessed a different kind of inversion. As our government reversed environmental and social regulations, companies took voluntary actions to protect people and the planet. In a Harvard Business Review profile of the Top 10 Sustainable Business Stories of 2017, business leaders took steps to reduce climate change. As the new administration pulled out of the Paris Agreement and made an all-out assault on our air, water, climate, and land, multinational corporations joined state and local governments to declare We Are Still In. Large institutional investors such as Blackrock and Vanguard woke up to the risk of climate change in voting with faith-based shareholder proposals.
China accelerated their sustainability efforts, stepping into the leadership position given up by the U.S., by committing to cut coal by 30% and cancelling 103 coal plants; making big moves in electric vehicles; and becoming the world’s largest solar producer. As the U.S. administration moved to relax fuel efficiency standards, GM, Ford and Volvo announced major investments in electric vehicles (EV). France, India, Britain, Norway, and China commitment to ban diesel and gas vehicles over the next couple of decades helped push EV sales up 63% globally last year!
Business leaders like Apple’s Tim Cook stood up stating that sustainability that isn’t about philanthropy, but rather about the core business and its role in society. Companies supported state attorney generals’ suit of the administration’s immigration ban and discrimination based on sexual orientation.
Looking ahead at 2018, author Andrew Winston predicted that “Millennials and Gen Z will continue to push for purpose and meaning in work and life”. Companies will set more aggressive sustainability goals and embrace “clean labels” (…like Walmart, Target, and Panera did in 2017). The #metoo movement against sexual harassment will move beyond media and politics to the corporate suites.
Happy New Year!