Lawrence Heim, the editor of PracticalESG.com, has been working in environmental sustainability for over 30 years, moving from one area of the industry to another and developing a deep knowledge of the space. PracticalESG.com is designed to help professionals approach program development, program implementation and disclosure, as well as understanding the basics from a practical point of view. He and Tom discuss how legal work led to a passion for ESG, and the HBR paper that changed his whole way of thinking. (Green and Competitive) It was in the late 80’s and early 90’s that meaningful linkages between environmental management and business value started to be made, and that is where today’s guest found his stride in the industry.
A Risk Management Focus
Tom asked how Lawrence’s experience has helped him create a risk management focus on ESG. Lawrence explains how he didn’t know a thing about what risk management really was. Even today, he is of the opinion that most people don’t really understand what risk is. It’s critical that ESG professionals discuss and work alongside traditional risk management folks, or different terms, definitions, and benchmarks are going to be in play, which is really ESG shooting itself in the foot in terms of credibility.
Changes over the Pandemic
Tom points out that the pandemic has really focused attention on supply chains and procurement, and the importance of responsible sourcing. Lawrence explains how this has been an evolution over time, starting in the garment and textile sectors, and how public as well as corporate awareness started to shift the needle. The Rana Plaza incident, and the rulings around conflict minerals have really advanced the conversation. They also discuss what changes have happened internally in organizations over the pandemic – particularly the impact on how companies are treating employees.
Too Much Information
Getting started in ESG can be overwhelming because there is a huge amount of information, much of it conflicting. Lawrence recommends that people just begin reading and learning, but remaining skeptical, and being on the lookout for contradictory information. Learning which sources you can trust, and which have the best reputation takes time, but if you start broad, and remain skeptical, you will start to gain a full understanding.
Long Term ESG Strategy
Lawrence gives his thoughts and predictions about what the coming years will mean for ESG – he posits that ESG is going to become fully integrated in organizations, rather than a standalone issue. He further posits that if companies aren’t considering water use and availability now, they should be.
Resources
Lawrence Heim: LinkedIn | PracticalESG.Com | Lheim@Ccorp.com
Green and Competitive – HBR Article
Killing Sustainability
Author: admin
In this Episode of the FCPA Compliance Report, I am joined by Miller & Chevalier Members Alejandra Almonte and Matt Ellis to discuss ¡(H)Ola Compliance!. ¡(H)Ola Compliance! is the only Spanish and Portuguese language podcast produced in the US. Highlights include:
- Why they started their podcast.
- How the compliance profession has evolved in the Latin America over the past 5 years.
- What was it like to interview Judge Moro?
- What have been two or three of their biggest surprises from hosting the podcast?
- Where might ¡(H)Ola Compliance! compliance be headed down the road.
Resources
Alejandra Almonte
Matt Ellis
¡(H)Ola Compliance! on the Compliance Podcast Network
Categories
New China Data Protection Law
China rolls out its new Data Protection Law. The Kitchen takes a peek at the main data points that are cooking in this significant legal area, ready to be served to companies in China, starting on September 1, 2021.
In today’s edition of Sunday Book Review:
- The Gettysburg Campaign: A Study in Command (1968) by Edwin B. Coddington
- Gettysburg: The First Day (2001) by Harry Pfanz
- Gettysburg: The Second Day (1987) by Harry Pfanz
- Pickett’s Charge in History and Memory (1997) by Carol Reardon
- The Killer Angels (1974) by Michael Shaara
Leaders should talk with employees, not to employees, or at employees. But should leaders talk about employees?
The answer is: It depends.
In today’s episode, we’re discussing the ways leaders should talk about employees so employees feel they can trust and respect their leaders..
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Categories
June in Compliance Week
Welcome to newest edition to the Compliance Podcast Network: From the Editor’s Desk, a podcast where Tom Fox and Dave Lefort, Editor in Chief at Compliance Week unpack some of the top stories which have or will appear in Compliance Week, look at top compliance stories, talk some sports and generally try to solve the world’s problems. In today’s inaugural, episode we take a look back at top stories in CW from June, the 3rd party risk management 2021 Conference, and take a deep dive into the latest baseball cheating scandal.
Compliance Week’s at 3rd risk management in 2021 in a two-day virtual event on June 29 & 30. For information and registration click here. Use Code Davew100 for a ticket at no charge.
Tom Fox’s guest on Day 5 of Microsoft Week is Jesus Fernandez. Jesus is the Senior Program Manager at Microsoft. He specializes in data intelligence, risk management, and policy compliance. He joins Tom to talk about his role at Microsoft, data analytics, and its role in compliance, and the future for this industry.
Driving Compliance Through Data Analytics
Tom asks Jesus to explain how he uses data in compliance. Jesus tells Tom that Microsoft uses data to decide which partners to keep conducting business with. Deciding which partners need support and where the company needs to focus its energy is vital, and analyzing the data helps them make those important decisions. Tom remarks that Jesus and his team not only use data analytics to drive compliance but to also help businesses run more efficiently.
Data From a Compliance Perspective
Tom asks Jesus to give an example as to how data analytics has helped improve operations at Microsoft. Jesus responds that it started from looking at data from a compliance perspective: examining deals with Microsoft clients that were suspicious, and paying more attention to them specifically. From that, Jesus explains that he and his team looked at the market of each of the countries in which Microsoft conducts business, to see how it was doing and if there were any deviations from the norm. “We want to look at them – at the partner and the customer ecosystem – and try to see which partners are doing great, which ones are not doing that well and try to connect why those activities could be,” he tells Tom.
The Impact of COVID-19 on Digital & Data Analytics in Compliance
The pandemic has helped Microsoft teams to be more comfortable with the use of data analytics. The challenge with this, Jesus explains, is that companies may not be initially receptive to changes in their processes, especially if they have their own data processes that are working well for them. Due to the pandemic, employees are using more technology and are more willing to look at data and improve the way that they are working, based on the feedback they get.
What’s Next
Companies and compliance functions need to rely on more data in the coming years. Jesus adds that experts within our organizations need to be thinking about how data helped them answer some of the questions they may have had. One of the challenges companies will face in the future is that their data may be disconnected or without structure.
Listen here to Microsoft Week episode 1, featuring Alan Gibson, Director of Legal and Compliance Innovation at Microsoft.
Listen here to Microsoft Week episode 2, featuring Abbas Kudrati, Chief Cybersecurity Advisor for Microsoft Asia’s Enterprise Cybersecurity Group.
Listen here to Microsoft Week episode 3, featuring Joseph Davis, Microsoft’s Chief Security Advisor for Health and Life Sciences.
Listen here to Microsoft Week episode 4, featuring Erica Toelle, Senior Product Marketing Manager for Records Management and InfoGov.
Resources
Jesus Fernandez | LinkedIn
Anti-Corruption Technology Solutions
Tom and Jay are back to take a look at this week’s stories top compliance and ethics stories which caught their interest on This Week in FCPA in the Design Thinking in Compliance edition.
Stories
- Design Thinking returns to compliance as Carsten Tams begins a 5-part series on LinkedIn. Check out Part 1.
- Ex-Goldman Sachs banker settles FCPA matter. Dylan Tokar in WSJ Risk and Compliance Journal.
- Want a refresher in red flags, check out this FBI-produced multipart series, all available on YouTube. Red Flag Fraud Signs, Part 1, Red Flag Fraud Signs, Part 2, Red Flag Fraud Signs, Part 3, Red Flag Fraud Signs, Part 4, Red Flag Fraud Signs, Part 5, Red Flag Fraud Signs, Part 6
- Tricky Dicky lives in FCPA enforcement. Dick Cassin explains why in the FCPA Blog.
- Using captives to provide FCPA D&O Coverage? Daniel Chefitz and Sergio Oehninger in the FCPA Blog.
- Do we need to ban high-value currency? Sam Magaram in GAB.
- Compliance opportunities in and after Covid. Stephen Naughton in Compliance Law Journal.
- Building an effective AML action plan. Peter Fitzgerald, Scott Zucker and Tristan Souness-Wilson in CCI.
- SEC settles pre-taliation case with Guggenheim Partners. Matt Kelly in Radical Compliance.
- Will laws requiring Board diversity survive court scrutiny? Kevin LaCroix in the D&O Diary.
Podcasts and Events
- Microsoft Week on Innovation in Compliance. Alan Gibson on Legal Compliance for the Future, Abbas Kudration Innovation Through Info Security, Joseph Davis on A Progressive and Humble Leadership to Cybersecurity, Erica Toelle on Records Management and Information Governance, Jesus Fernandez on the Digital Transformation of Compliance.
- How does history inform compliance? What are the leadership lessons from ancient Greeks and Romans? Find out in this special 10 part podcast series on famous Greeks and Romans from Plutarch’s Lives this week on 12 O’Clock High, a podcast on business leadership, hosted by Richard Lummis and Tom Fox. In Episode 1, they mined Plutarch about the lives of and leadership lessons from Themistocles and Camillus. In Episode 2, they looked at Solon and Popsicola. In Episode 3, Pericles and Fabius Maximus.
- Trekking Through Compliance Returns! Tom reviews all 79 episodes of Star Trek, the Original Series beginning June 1. Each day at 3 PM on the Compliance Podcast Network. This week’s offerings included Space Seed, Return of the Archons, This Side of Paradise, Devil in the Dark and Errand of Mercy.
- On July 1, join K2 Integrity’s Snezana Gebauer and Darren Matthews will present a webinar on asset tracing at the IBA Global Influencer Forum. Learn more and register here.
- On July 13, join K2 Integrity for its Virtual Compliance Conference on Environment, Social, and Governance Compliance Risks for Financial Institutions. Information and Registration here.
- Compliance Week is looking at 3rd risk management in 2021 in a two-day virtual event on June 29 & 30. For information and registration click here. Use the code Dave100 for a free ticket.
- Tom announces his latest book, The Compliance Handbook, 2nd edition is available for presale purchase. Use the code FOX25 and go here. The Compliance Handbook 2ndedition will be available in both print and eBook editions.
Tom Fox is the Voice of Compliance and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.