Bryan Sillaman, Head of the Paris office of Hughes Hubbard & Reed LLP, chats with Tom Fox about two articles he recently wrote in this week’s show. They discuss how to establish a corporate policy for ESG, as well as the renewable energy market and what’s driving its evolution.
5 Steps to Corporate ESG Policy
Bryan tells Tom that Larry Fink’s message about climate risk being investment risk, as well as the statement on stakeholder capitalism, helped shine a brighter light on ESG. Companies needed guidance on how to establish their own ESG policy, and his article, Five Steps to Establishing a Corporate ESG Policy for the Present Moment, provides a practical strategy for moving forward. Tom comments that it is a framework for responding to stakeholders such as regulators and investors, who are demanding more sustainability. When establishing a corporate ESG policy, start with what you can do and look at what you already have, Bryan advises listeners. It’s a process that will take time, and each company’s approach will differ depending on their circumstances. “This is a process, and it’s important as part of the implementation, to recognize that you need to test and to modify and perhaps enhance things going forward…” he remarks. Compliance officers have skills that translate well into leading ESG, he continues: “Compliance is – at its very essence – a risk management and also a change management process.”
Clean Energy
Tom asks Bryan to talk about another of his articles, Keeping the ‘Clean’ in Clean Energy. The booming demand for clean and renewable energy will bring many opportunities, but also several risks, Bryan responds. This inspired him and his colleague to write the article. Tom comments that a mix of energy sources could extend the life of fossil fuels which would be good for the energy market. Traditional energy companies are investing in renewable energy to diversify and to position themselves for the evolution of the market, Bryan agrees.
RESOURCES
Bryan Sillaman on LinkedIn
Articles: Keeping the ‘Clean’ in Clean Energy | Five Steps to Establishing a Corporate ESG Policy for the Present Moment
