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The Rise of “S” in ESG and why Social Initiatives Create Long-term Value
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About the talk
When most people think about environmental, social and governance (ESG) issues in commercial real estate, many often default to the usual suspects: energy use, water and greenhouse gas emissions. Now, amid the pandemic, social initiatives, such as healthy buildings, flexible work arrangements, racial justice, diversity, inclusion and gender equality are not only front-and-center but are likely far more important to companies seeking to build long term value. Addressing these issues proactively in a fair, open and transparent fashion will create confidence among real estate occupiers, investors, analysts and other key stakeholders while mitigating reputational risk. With the recent call from institutional investors for companies to report on their ESG progress, companies that answer this call will help cement their long-term value in the marketplace.
Join Kyle Bolden and Rich Goode from EY who will host a spirited discussion about the key issues, and how companies are addressing social issues in commercial real estate
01:26 Environmental, social and governance issues
04:05 Top 10 issues affecting real estate
06:26 Responding to social issues
10:46 Diversity
16:40 Reporting
21:10 Effective ESG strategies
About speakers
Kyle is an Assurance Partner in the Real Estate, Hospitality and Construction practice. He is also the US-East Real Estate and Growth Markets leader. Kyle is a licensed CPA in NY and NJ and a member of the American Institute of Certified Public Accountants. He has served on the boards of several nonprofit organizations and is active in diversity and inclusion initiatives at EY. Kyle received his BS in Accounting from Fairleigh Dickinson University.
View the profileRich is an Executive Director with EY Climate Change and Sustainability Services. In this role, he helps companies identify and respond to climate-related risks and opportunities. His extensive experience includes implementing sustainability programs as well as carbon accounting, supply chain sustainability and strategy development. For over 20 years, he worked in high technology, medical technology and heavy manufacturing industries. Prior to joining EY, he founded a telecommunications equipment company’s sustainability function and held leadership positions in operations and product line management at both start-ups and large corporations. Rich teaches a course on greenhouse gas accounting and climate risk reduction strategies at Harvard University Extension School and previously taught Sustainable Product Development at Tufts University School of Engineering, Gordon Institute. He holds an MBA from Nichols College, an Executive Certificate in Sustainable Management from Presidio Graduate School and a BS in Management and Statistics from the University of Massachusetts at Boston.
View the profileSo good morning. Good afternoon. Good evening, depending on where you're in the world when you're joining. My name is Rich Goode, I'm a Managing Director here at EY. I'm with my colleague. Kyle Bolden says hello, if you see yourself, good morning, good afternoon. Good evening. I'm Kyle Bolden and I am an Assurance Partner at EY am also taking on the responsibility of the market segment leader role. Thanks, Kyle. So, let's Jump right in here. I think we only have you for about half an hour. We could a lot of good stuff you want to talk about. So
the title of our talk today is called the rise of s in ESG environment social and governance and just a little bit about how we came up with a topic. I think particularly in the corporate real estate world when we think of sustainability. We think of ESP we think of Wastewater greenhouse gas emissions chillers hack. We think of grosbeaks and all the detailed information. They want we don't necessarily think as much about the s in the Jeep is social and governance issues. And today we're going to talk a little bit about the S issues what they are why they're so important
that what some companies are trying to do about it. So this is just our disclaimer. Of course, this is our opinion on not necessary that goes if EY, but I want to really jump in and talk about ESG. So what's Define ESP is often used interchangeably with the sustainability of corporate responsibility, and I'm not sure that's really accurate anymore. Yes. She just seems to be much bigger than pure sustainability State ability to me is I used to see the chart the timeline down below we start with corporate philanthropy and social responsibility that we kind of got it
stained ability that was about changing our light bulbs and reducing our energy usage measuring and in pledging to reduce. Our greenhouse gasses emissions coming up with renewable energy strategies all good stuff, but it's morphed and there's been a few really important things that have
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