Sustainable Spaces: From Compliance to Commitment
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In this podcast, we cover the importance of Creating Sustainable Financial Decisions. We explore the common challenges businesses face, such as siloed departments, lack of top-down leadership in sustainability, and a narrow focus on reporting requirements rather than addressing the underlying risks. The discussion highlights that sustainability should be seen as a way to enhance efficiency, reduce costs, and improve resilience rather than just a compliance obligation. The conversation also touches on the potential benefits of sustainability programs, such as uncovering tax incentives to create sustainable growth.
Key points:
- Siloed Approach: Companies often have siloed teams (e.g., sustainability, finance) and miss opportunities by not integrating them early in planning.
- Top-Down Approach: Sustainable Financial decisions and initiatives should be driven by the board and involve all departments and external stakeholders (e.g., suppliers and customers).
- Financial Benefits: Sustainability efforts can drive cost savings, efficiency, and improved productivity by investing in areas like employee well-being and resource management.
- Long-Term Thinking: Companies need to consider long-term risks and future-proof their investments, such as considering environmental impacts when making business decisions such as investments and acquisitions.
- Tax and Finance Involvement: Including tax professionals early on can help businesses identify tax incentives and credits, improving sustainability efforts and reducing costs.
- Innovation and New Models: Sustainable Finance decisions can drive innovation, such as circular economies or finding new uses for waste, creating new business opportunities beyond traditional models.
- Sustainability Beyond Reporting: Companies tend to focus on reporting requirements rather than using sustainability strategies to address real risks and unlock business value.
Find out how Scrubbed can help with your Sustainability programs.
Episode Transcript
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About the Podcast Participants
Ephigenie Banaynal dela Cruz
Ephi is Co-founder and CEO of Context Nature, a US Public Benefit Corporation focused on accelerating nature-positive transformation through decision intelligence.
For over two decades, Ephi has been leading global sustainability efforts at Fortune 500 companies including Microsoft and SAP. At Microsoft, she spearheaded transformative supply chain programs for a decade, created the Corporate Supply Chain Integrity organization, and developed supply chain risk management systems and software.
Ephi co-authored global sustainability standards and held leadership roles, including Chair Emeritus of the Responsible Mineral Initiative and Founding Board member for purchasers at the Initiative for Responsible Mining Assurance.
Born and raised in the Philippines, she holds a Master’s in Environmental Policy Research and Management from California State University, East Bay, and a Bachelor’s in Political Science from Ateneo de Manila University. Ephi is also a Leading by Design fellow at California College of the Arts and has completed executive education at Stanford and University of California, Berkeley.
JM Respeto
JM has 9 years of solid, in-depth accounting and auditing experience. He is an Environmental, Social, and Governance (ESG) knowledge head. He has a deep understanding of ESG principles and practices. He assists clients in preparing sustainability reports, identifying policy improvements aligned with ESG goals, conducting internal and external ESG-related trainings, and more. His extensive knowledge of IFRS and US GAAP assists clients in bridging financial and sustainability reporting. His client portfolio includes top global companies in retail and distribution, manufacturing, mining, oil and gas, healthcare, pharmaceutical, hotels, business services, not-for-profit organizations, and education. Prior to joining Scrubbed, he was an Assurance Senior Manager at PwC Philippines with international audit experience in EY Barbados. JM graduated Summa Cum Laude and is a Certified Public Accountant in the Philippines.
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