Tag: ESG

Categories
Regulatory Ramblings

Regulatory Ramblings: Episode 43 – Why ESG Matters? With Jon Solorzano

Jon Solorzano is a Los Angeles-based attorney who serves as counsel and co-head of the environmental, social, and governance (ESG) task force at the law firm of Vinson & Elkins. Prior to this role, he served as senior director for legal and corporate development at the Clorox Company.

Beyond ESG, Jon is also a highly sought-after thought leader with significant expertise in related fields such as M&A, corporate governance, securities regulation, corporate and business development, consumer products, technology, human capital management, business financial strategy, and international matters for both high-growth start-ups and established Fortune 500 companies.

Few topics are as vexatious and polarizing in contemporary times as the acronym ESG. Legendary investors such as Warren Buffet and his second-in-command, the late Charlie Munger, along with other prominent corporate and finance figures, argue that ESG should not be a consideration in investment decisions.

Against this backdrop, Jon discusses with Regulatory Ramblings host Ajay Shamdasani why ESG matters to investors, companies, and society, alongside corporate social responsibility (CSR) and diversity, equity, and inclusion (DEI). He stresses that while these concepts and movements are related and overlap to some degree, they are not necessarily the same thing. Indeed, Jon notes that those who coined the term ESG might have garnered more support for their cause had they emphasized (G)overnance rather than (E)nvironmental, as even skeptics of global warming can appreciate the importance of well-governed companies and how that affects share prices.

Jon also shares insights into his upbringing, background, and path into the legal profession, as well as how, as a transactional lawyer, he ended up leading his firm’s ESG practice.

While acknowledging the concerns of ESG detractors and naysayers, Jon predicts that 10-15 years from now, the nature of the debate and discussion will be very different. By then, few will even question the importance of ESG to the world’s well-being, he says, as millennials and Zoomers take over the reins of society in developed countries.

A telling sign that Jon’s predictions are accurate is that for younger investors, ESG definitely matters as a yardstick in gauging what constitutes a socially conscious and sustainable investment.

The conversation concludes by examining the extent to which ESG mandates intersect with financial regulation, and why banking and financial institutions globally need to take ESG as seriously as their regulatory compliance and risk management requirements.

Podcast Discussion:

  • 02:01 A Journey through Corporate Law and Stakeholder Engagement
  • 08:05 Unveiling the Complexity: ESG vs. CSR in Corporate Responsibility and Investor Value
  • 20:20 Exploring the ESG Backlash: Understanding Perspectives on Investor Value and Corporate Responsibility
  • 25:01 Corporate Indifference: The Evolution of ESG Amidst Regulatory Pressures
  • 32:59 ESG in a World of Socio-Economic Uncertainty and Geopolitical Tumult
  • 36:28 How do you rebrand ESG: Adapting Perception and Purpose in Corporate Sustainability?
  • 41:26 Insights into the Intersection of ESG and Financial Regulation
  • 44:22 Generation Shift: The Future Landscape of ESG
  • 48:31 The Evolving Role of Professionals in ESG Decision-Making
  • 52:41 Solorzano: Assessing a Practitioner’s Journey in the Evolving ESG Landscape

Connect with RR Podcast at:

LinkedIn: https://hk.linkedin.com/company/hkufintech 
Facebook: https://www.facebook.com/hkufintech.fb/
Instagram: https://www.instagram.com/hkufintech/ 
Twitter: https://twitter.com/HKUFinTech 
Threads: https://www.threads.net/@hkufintech
Website: https://www.hkufintech.com/regulatoryramblings 

Connect with the Compliance Podcast Network at:

LinkedIn: https://www.linkedin.com/company/compliance-podcast-network/
Facebook: https://www.facebook.com/compliancepodcastnetwork/
YouTube: https://www.youtube.com/@CompliancePodcastNetwork
Twitter: https://twitter.com/tfoxlaw
Instagram: https://www.instagram.com/voiceofcompliance/
Website: https://compliancepodcastnetwork.net/

Categories
SBR - Authors' Podcast

SBR – Author’s Podcast: Alison Taylor on Higher Ground

Welcome to the Sunday Book Review and the Authors Podcast! Don’t miss out on this episode of SBR-Author’s Podcast, where Tom sits down with well-known compliance maven Alison Taylor on her new book, Higher Ground.

Alison Taylor is an established professional with a wide-ranging background in editing, consulting, political risk, and corporate investigation. Her career has seen her dedicate twelve years to corporate investigation, where she honed her skills in FCPA, due diligence, and network analysis, even leading investigations across multiple continents.

After 2015, Taylor redirected her career towards sustainability and ESG, advising on climate change, human rights, and corporate responsibility for major multinational companies.

Alison’s diverse and extensive professional journey, including her current role as a faculty member at NYU and director of Ethical Systems, a think tank, coupled with her authorship of “Higher Ground,” has shaped her perspective on the interplay of compliance, ethics, sustainability, and corporate responsibility.

These experiences have enabled her to provide valuable clarity and insights for senior leaders navigating the complex landscape of business ethics.

Key highlights include:

  • Navigating Business Ethics in Sustainability Practices
  • Navigating the Emotional Roller Coaster of Writing
  • Leadership Alignment with Stated Ethical Values
  • Ethical Decision Making for Business Sustainability
  • Ethical Innovations in Compliance and Ethics

 Resources:

Alison Taylor on Linkedin

Higher Ground on Amazon.com

 Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
The ESG Report

The ESG Report – Pamela Fierst – Walsh: Diversifying EV Battery Supply Chains

The ESG Report podcast is hosted by Tom Fox. Looking for innovative solutions to tackle climate change? Look no further than The ESG Report! In this episode, Tom speaks with Pamela Fierst-Walsh, who talks about her career in sustainable minerals and how it has led her to EV batteries.

Pamela Fierst-Walsh is a seasoned professional with a rich background in managing environmental and economic challenges in worldwide supply chains. With over 17 years of experience as a US diplomat and a law degree from Indiana University Mauer School of Law, Fierst-Walsh brings a unique perspective to the table. She believes that the transition to electric vehicles is crucial for addressing climate change and reducing greenhouse gas emissions. She emphasizes the importance of diversifying energy sources, reducing reliance on oil and natural gas, and the need for regulatory measures such as digital product passports and due diligence on supply chains to ensure sustainability. Join Tom Fox and Pamela Fierst-Walsh as they delve deeper into these issues on the next episode of The ESG Report.

Key Highlights:

  • Sustainable Transportation: Driving Consumer Demand
  • Minerals Market Dominance in EV Batteries
  • Circular Economy Initiatives in the EU
  • Sustainable Battery Information Sharing for EU
  • Securing Reliable Supply Chains for National Security

Resources:

Pamela Fierst-Walsh on LinkedIn

 Tom Fox 

Connect with me on the following sites:

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
2 Gurus Talk Compliance

2 Gurus Talk Compliance – Episode 21 — Big Trouble in China Edition

What happens when two top compliance commentators get together? They talk about compliance, of course. Join Tom Fox and Kristy Grant-Hart in 2 Gurus Talk Compliance as they discuss the latest compliance issues in this week’s episode! In this episode, Tom and Kristy take on a wide variety of topics, including the self-improvement of the Florida Man gone astray.

In the ever-evolving world of regulatory compliance and risk management, challenges are constant, and strategies must be dynamic. Tom highlights corruption in China, data privacy, the duty of oversight for officers and export control sanctions. Kristy highlights the ESG & DEI, Supply Chains and China, SAP, frequent flyer mile fraud and checks in on Florida Man. Join Tom Fox and Kristy Grant-Hart as they delve deeper into these issues in this episode of the 2 Gurus Talk Compliance podcast.

Highlights Include:

  1. First Shots Fired in 2024 Proxy Battle Over ESG, DEI: (Law.com)
  2. Enforcement of China’s Forced Import Ban Needs to Be Much Tougher, Say U.S. Lawmakers (WSJ)
  3. Lessons Learned from the SAP Enforcement Action: DOJ Changes Tack on FCPA Enforcement While SEC Digs into Third-Party Controls (Part III of III) (Corruption, Crime & Compliance)
  4. Frequent flyer miles helped authorities crack down on a $127 million money laundering scheme (The Street): HERE
  5. Analysis of failure to exercise duty of oversight by a corporate officer. (FCPA Compliance & Ethics Blog)
  6. McDonald’s Duty of Officer oversight. (Compliance and Enforcement)
  7. China and its fight against corruption.  (Reuters)
  8. Big penalties are coming for export control and sanctions enforcement. (WSJ)
  9. A federal data privacy law in 2024? (CCI)
  10. Florida man uses phone he found in Walmart bathroom to call in fake bomb threat, cites TikTok trend: deputies (FOX Orlando)

Resources:

Kristy Grant-Hart on LinkedIn

Spark Consulting

Tom

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
The ESG Report

The ESG Report – Christian Harris on Safety as The ‘S’ in ESG

The ESG Report podcast is hosted by Tom Fox. Looking for innovative solutions to tackle climate change? Look no further than The ESG Report! In this episode, Tom speaks with Christian Harris from Slip Safety Services on Safety as The ‘S’ in ESG

Christian Harris is a seasoned safety professional with over a decade of experience, specializing in slip and fall prevention. His passion for safety was sparked by a personal incident, leading him to advocate for the integration of safety measures in business operations. Harris believes that safety should not be viewed merely as a means to prevent accidents but as an enabler of culture, high performance, and profit. He coined the term “safety-nomics” to highlight the positive impact of safety on business performance and uses the success story of Alcoa to illustrate the correlation between a strong safety culture and improved business outcomes. Join Tom Fox and Christian Harris on this episode of the ESG Report as they delve deeper into the importance of integrating safety measures into business operations.

Key Highlights:

  • Safety Shifts and Compliance in Energy
  • The Transformative Power of Safety Integration
  • The Significance of Safety in Business Performance
  • Identifying Slip and Fall Factors in Consumer Businesses
  • The Importance of Proactive Safety Culture

Resources:

Christian Harris on LinkedIn

 Tom Fox 

Connect with me on the following sites:

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
Daily Compliance News

Daily Compliance News: January 10, 2024 – The Never Again (yet again) Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen to the Daily Compliance News. All from the Compliance Podcast Network. Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional.

In today’s edition of Daily Compliance News:

  • Don’t say dirty words at work. (WSJ)
  • A former top NRA official pleads out. (NPR)
  • Boeing CEO says ‘this can never happen again’ (yet again). (Reuters)
  • Gold bars are a sign of a statesman—Bob Menendez. (NYT)
Categories
FCPA Compliance Report

FCPA Compliance Report – John Gebauer and John Van Der Wal on Implementing Comprehensive Strategies for Regulatory Rule Compliance

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this episode, Tom Fox welcomes John Gebauer, Chief Regulatory Officer at COMPLY, and John Van Der Wal, Senior Director, Compliance Advisory at COMPLY.

John Gebauer and John Van Der Wal are seasoned professionals in the financial industry, each with over three decades of experience and a focus on regulatory changes and compliance challenges. Gebauer believes that there is a need for stricter controls and requirements in the ESG space. He emphasizes the importance of firms having the necessary documents and procedures to back up their claims of being ESG advisors. Van Der Wal shares a similar perspective. He stresses the need for more controls and requirements in ESG advising, the importance of vendor due diligence, and the potential of AI and machine learning technologies in preventing inappropriate activity. Both Gebauer and Van Der Wal highlight the importance of staying up-to-date with changing rules and regulations in the financial industry. Join Tom Fox, John Gebauer, and John Van Der Wal on this episode of the FCPA Compliance Report to delve deeper into these insights.

Key Highlight:

  • Compliance Consulting Expert: John Gebauer
  • Private Fund Reform Rule: Addressing Industry Concerns and Improving Practices
  • Comprehensive Approach for Rule Implementation
  • Cybersecurity Measures to Prevent Insider Trading
  • The Impact of Cybersecurity Regulations on Finance

Resources:

John Gebauer on LinkedIn

COMPLY

Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
The ESG Report

The ESG Report – Gregorio Esteban on Sustainable Housing in Latin America

The ESG Report podcast is hosted by Tom Fox. Looking for innovative solutions to tackle climate change? Look no further than The ESG Report! In this episode, Tom speaks with Gregorio Esteban from Miraval on sustainable housing in Latin America.

Gregorio Esteban, a serial entrepreneur with a diverse background in entertainment, finance, and real estate, is the founder of Miraval Holdings, a company providing sustainable housing solutions in Latin America. Esteban’s perspective on Miraval Holdings’ sustainable housing solutions in Latin America is rooted in his belief in the importance of sustainability in the construction industry, particularly in providing affordable and achievable solutions for lower-income populations. His company, which operates in multiple Latin American countries, focuses on developing sustainable microcities, implementing green approaches, and managing waste sustainably. Esteban emphasizes the social aspect of sustainability, including job creation and wealth generation for local families, and suggests a need for a reformulated ESG framework that considers the unique needs of each Latin American country. Join Tom Fox and Gregorio Esteban as they delve deeper into this topic on this episode of The ESG Report.

Key Highlights:

  • Sustainable Microcities: Miraval’s Green Housing Solutions
  • Sustainable Solutions for Affordable Rural Housing
  • Creating Sustainable Housing Solutions in Latin America

Resources:

Gregorio Esteban on LinkedIn

Miraval Holdings

Tom Fox 

Connect with me on the following sites:

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program Through Data Analytics: Day 10 – The Impact of Privacy Regulations on Compliance

What is the impact of privacy regulations on data-driven compliance? Every CCO must be aware of the importance of privacy in data-driven compliance and the challenges and tradeoffs involved in implementing effective compliance strategies. A key mandate is for CCOs and compliance professionals to have a compliance program that provides visibility into their data. This emphasizes the importance of having efficient and effective compliance solutions in place or as I have previously noted CCOs must have access to their compliance data literally at their fingertips.

This is one of the drivers for key trends shaping compliance technology in 2025 and beyond. The RegTech market is growing rapidly, and there is increased regulatory focus on cryptocurrency activities, ESG, and information security and cybersecurity. These trends indicate the evolving landscape of compliance and the need for organizations to stay updated and adapt their compliance strategies accordingly. By embracing connected compliance and leveraging technology, organizations can navigate the complex regulatory landscape and ensure compliance with privacy regulations while driving business efficiency.

 Three key takeaways:

  1. CCOs and compliance professionals must have a compliance program that provides visibility into their data.
  2. ESG regulations affect not only regulated industries but also any company holding private customer data or involved in large supply chains.
  3. By embracing connected compliance and leveraging technology, organizations can navigate the complex regulatory landscape and ensure compliance with privacy regulations while driving business efficiency.

For more on KonaAI, click here.

Categories
Innovation in Compliance

Compliance Professionals Adapting to Change: Industries, Regulations, and Beyond: Part 4 – Yee Chow on Navigating the Current ESG Landscape

Welcome to a special series sponsored by Diligent, where we look down the road at key issues in 2024 and beyond. In this series, I will visit with Nicholas Latham, Renee Murphy, Jessica Czeczuga, Yee Chow, and Alexander Cotoia. Over this series, we will consider compliant communications in regulated industries, managing conflicts of interest at the Board level, the Board’s role in compliance training and communications, navigating the current ESG landscape, and professional growth and mentorship in compliance. In Part 4, we navigate the current ESG landscape with Yee Chow.

Yee Chow is a seasoned professional in the sustainability space, currently serving as the Director of Solution Engineering and Consulting at Diligent. With over 16 years of experience, Yee has witnessed the evolution of the chief compliance officer’s role in ESG compliance. Yee’s perspective on this evolution is that it has become a significant and integral part of corporate agendas. Previously, ESG was seen as a side topic for companies to gain more credentials and marketing, but in recent years, it has become a significant focus for most corporations globally. This shift has led to changes in the roles of chief compliance officers and internal management, with ESG now being elevated to their level of responsibility and accountability. Yee believes that this shift is necessary and beneficial for companies in the future. Join Tom Fox and Yee Chow on this episode of the Diligent Podcast to delve deeper into this topic.

Key Highlights:

  • Elevated ESG Compliance Leadership: CCO’s Evolving Role
  • Mandatory Reporting on ESG Factors
  • Integrating ESG into Board Meetings and Discussions

Ready for Purpose-Driven Compliance? Diligent equips leaders with the tools to build, monitor, and maintain an open, transparent ethics and compliance culture. For more information and to book a demo, visit Diligent.com

Join us tomorrow, where we conclude our series with a review of professional development and mentoring for compliance professionals.