Frankly Speaking - A Podcast on Responsible Business
By Frank Bold
Frankly Speaking - A Podcast on Responsible BusinessMay 08, 2024
#48 Linda Kromjong: Europe’s Supply Chain Law (CSDDD) - A Message from Business
**Note to listeners: due to technical difficulties, the sound quality of this episode is not optimal. Consider listening to this episode on smartphone or computer speakers.
This week in the podcast, Richard Howitt welcomes one of the leading business voices on supply chain management in the world, Linda Kromjong, president of amfori, Global Business Association and a key advocate of open and sustainable trade in Europe and in the world.
Together they discuss:
- Why is due diligence important for companies?
- Why is the CSDDD a pro-business directive? Why is this good for business?
- An insider view on what happened in the last moments before new and unexpected deals had to be done by Member States.
- How environmental due diligence and human rights due diligence go hand in hand
- Linda’s message to businesses about implementing the CSDDD
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#47 Caio de Oliveira: the State of Corporate Sustainability Reporting in the World in 2024
This week in Frankly Speaking, we put the spotlight on a new report produced by the OECD and analysing the state of corporate sustainability reporting in the world.
To discuss it, we welcome Caio de Oliveira, policy analyst at the OECD, who's had major responsibility in producing the report and who leads the sustainability work streams at the OECD on behalf of the Corporate Governance Committee and the Financial Markets Committee at the organisation. Caio has previously worked for the Brazilian government's Economic Ministry and for the country's Securities and Exchange Commission (CVM).
Richard and Caio address:
The findings of the OECD’s Global Corporate Sustainability 2024 report
How much and to what degree is sustainability reporting going on by companies
The high levels of reporting of scope 1 and scope 2 GHG emissions compared to low levels of scope 3 indirect emissions reporting
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#46 Antonie Fountain: How to Solve the World Cocoa Crisis?
Many of us know that dependence of developing countries on raw commodities leaves them vulnerable to price volatility and sees profit made in countries where the commodity is imported and then processed, rather than where it is produced. It's often farmers in those developing countries who are at the end of the line. That problem has been specifically highlighted in the cocoa sector this year.
Today in the podcast we look at where cocoa prices have gone parabolic, rising from just over 2,000 USD a tonne in 2022 to over $10,000 a tonne in 2024. It’s seen not just companies and farmers in producer companies suffer, but major chocolate companies in the global North, which have seen costs multiply and their share prices plummet by up to a third.
To discuss what's happening here, our guest is Antonie Fountain, managing director of the Voice Network, watchdog and catalyst for a reformed cocoa sector. Antonie is also the co-author of the Cocoa Barometer, the biennial review of sustainability in Cocoa.
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#45 Sarah Dadush: Can Contracts Support Promoting Responsible Business?
In this new Frankly Speaking episode, we explore the question of human rights due diligence by companies by asking what should go in the contract. Due diligence approaches have been criticized as simply using contractual clauses to pass off risk and responsibility down the supply chain.
To address how this can be avoided and to discuss what should and shouldn’t be in the contract, Richard Howitt welcomes Professor Sarah Dadush, writer and teacher in business and human rights at Rutgers Law School in the United States. She is the founding director of the Responsible Contracting Project, the mission of which is to improve human rights in global supply chains through innovative contracting practices. Check out Responsible Contracting Project's website to access all their tools.
Together, they discuss the concept of "shared responsibility" and:
- For companies committed to responsible business conduct, how should they contract with suppliers? What should and should not be written down in contracts?
- How to avoid a culture of excessive litigation in corporate responsibility
- The importance of transparency in supporting responsible contracting
- How this all fits into human rights due diligence legislation such as the upcoming CSDDD.
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#44 Filip Gregor: How Should Companies Undertake a Materiality Assessment?
In this Frankly Speaking episode, we explore how companies should undertake a materiality assessment when they tackle their sustainability report. The concept of materiality is derived from financial accounting in business and human rights, and very simply asks the question: does this information matter?
To guide us, we welcome back Filip Gregor, head of Frank Bold’s Responsible Companies section and member of EFRAG’s Sustainability Reporting Board, which draws up and recommends the European Sustainability Reporting Standards (ESRS).
Richard and Filip discuss:
How materiality is done in the ESRS and what does double materiality mean
How companies should start to think about assessing and measuring impact materiality
The logic behind the "traffic light" system for risk assessment in EFRAG's draft guidance on Materiality Assessment
Filip’s advice to companies that want to better understand financial materiality
What is the role of the stakeholder in relation to the materiality question
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#43 Tracey Rembert & Alex Wright-Gladstein - New U.S. SEC Climate Disclosure Rules Explained
In this episode, Frankly Speaking explores the new climate disclosure rules just agreed by the Securities and Exchange Commission in the United States and asks what are the implications both in the US and worldwide.
To answer those questions, Richard Howitt welcomes Tracey Rembert, Associate Director, Climate Change and Environmental Justice at the Interfaith Center on Corporate Responsibility (ICCR), and Alexandra Wright-Gladstein, founder and CEO of the climate-friendly investment fund Sphere.
Together they discuss:
If the SEC’s rules are a major advance in business sustainability or too big compromise
What are the positives of the new rules and potential challenges ahead
Whether companies are going to get on and start preparing to do this now?
If the ESG backlash is going to carry on unabated or does this decision change it in some way
Their advice to investors and companies to start preparing for these new rules
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#42 Julia Otten and Andreas Rasche: Europe's Supply Chain Law (CSDDD) - What is Really Happening?
In this new Frankly Speaking episode, Richard Howitt and his guests ask what is really happening in Europe's Corporate Sustainability Due Diligence Directive (CSDDD), the proposed law on how companies identify, prevent and remedy human rights and environmental abuses in their global supply chains.
Given political agreement by EU governments and members of the European Parliament before Christmas 2023, some governments undertook a volte face and indicated they would not support the law at the final administrative stage, when it would normally be nodded through without even discussion.
To guide us on why this is happening and what will happen now, Richard is joined by Andreas Rasche, professor of Business in Society at Copenhagen Business School and author of the book Corporate Sustainability, and Julia Otten, Senior Policy Officer at Frank Bold and lead on the Responsible Companies’ work on Corporate Due Diligence.
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#41 Veronica Poole: ISSB Standards - What, Why and How?
Today, Frankly Speaking welcomes Veronica Poole, Global International Financial Reporting Standards and Corporate Reporting Leader at big four accountancy company Deloitte.
In that role, Veronica has been at the forefront of moves to set sustainability reporting standards for business to the creation of the International Sustainability Standards Board (ISSB). She is both one of the leaders in the world with knowledge about the ISSB but also with responsibilities to help companies implement its recommendations.
In this episode you’ll hear Veronica’s views on:
Her historic role in the formation of the ISSB
The importance of enterprise value creation
The connection between broader sustainability issues and the material financial impact on the company
What is significant about new IFRS standards and which priorities should come next for the ISSB
Evolution of the assurance sector and if it’s ready for mandatory sustainability reporting
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#40 Belinda Christine Borck: Tony's Chocolonely's Journey to Transform the Industry - A Chocolate Revolution
On the podcast this week, we are joined by Belinda Christine Borck, Global Public Policy Coordinator at the Dutch-based chocolate producer Tony's Chocolonely.
Tony’s mission is to make 100% slave free the norm in all chocolate worldwide, and founder Teun van de Keuken picks the name “Chocolonely” to encapsulate his “lonely fight against inequality in the chocolate industry”.
The company has changed the standard square piece format of the chocolate bar to an unequally divided piece to symbolize the unequally divided cocoa supply chain.
In this episode, Richard and Belinda discuss:
How chocolate companies can combat systemic poverty by ensuring that farmers and producers in their supply chain receive a living income
The importance of traceability as a base for companies to take responsibility for their potential negative impacts
The role of legislations such as the EU Deforestation Regulation, the EU Forced Labour Regulation or the Corporate Sustainability Due Diligence Directive to enhance corporate transparency and address human rights and environmental violations
Tony’s Open Chain: how collaborating on cocoa does not impede competition on chocolate
… and more!
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#39 Dr. Anneloes Smitsman: Social Tipping Points and How Can Business Contribute to Systems Change
"We don't just need to change companies, but to change the system." How often have we heard this statement?
In this Frankly Speaking episode, Richard Howitt is joined by Dr. Anneloes Smitsman. They address what systems change means and how companies can contribute to achieving it.
We also discuss if there is a social tipping point where people's acceptance of the need to act on climate change will make a decisive difference in how consumers, employees and investors support the necessary changes in companies.
Dr. Anneloes Smitsman has a PhD in systems science, a pioneer in human development and in systems change, futurist, and entrepreneur. Annaloes is also the founder and CEO of EARTHwise Centre.
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#38 Nele Meyer: EU Due Diligence Rules Unpicked and Predictions for 2024
Happy New Year to all Frankly Speaking listeners!
Today’s guest is Nele Meyer, appointed last year as director of the European Coalition for Corporate Justice, a European network of NGOs which undertake advocacy on issues of corporate accountability.
In this first episode of 2024, Richard and Nele look back on a key achievement of the past year: the new EU rules on mandatory due diligence, given political agreement late in December. In the second part of the episode, they look forward to what will be important in corporate sustainability, business and human rights in 2024.
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#37 Maria Mendiluce: An Inside View of COP28 - What Are the Implications for Business?
For the last Frankly Speaking episode of 2023, Richard Howitt welcomes Maria Mendiluce, CEO of the We Mean Business Coalition and named last month by Time Magazine as one of the world’s top 100 Climate leaders. Their mission brings together a group of nonprofit organizations collaborating to accelerate an inclusive transition to a net zero economy.
With their ‘Fossil to Clean’ campaign, they called all Parties at COP28 "to transform the global energy system towards a full phase-out of unabated fossil fuels and halve emissions this decade."
Although the outcome of this year’s COP was not what was hoped for, “for the first time we have a global agreement to transition away from all fossil fuels in line with science.”
But what does this mean for business? In this conversation you’ll hear more about:
- Maria’s overall feeling about what happened in Dubai,
- Whether or not international pledges are still relevant and authentic
- If Carbon Capture and Storage is the solution for a net-zero economy
- How business can play a role in shifting narratives towards progress and sustainability
- Maria's advice to companies on climate and sustainability reporting
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We wish you a good holiday season and best wishes for 2024, will be back on the 10th of January with a brand new episode!
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#36 Caroline Rees: Does Corporate Sustainability Reporting Really Make a Difference?
How can companies and investors be agents of change for human and social rights?
Today on Frankly Speaking is Caroline Rees, President and co-Founder of Shift, the leading center of expertise on the UN Guiding Principles on Business and #HumanRights.
After a tribute to Professor John Ruggie’s work (author of the UN Guiding Principles on Business and Human Rights), you’ll hear Richard and Caroline discuss:
- The role of business in society and if the “business of business is business” theory has proven to provide social equality
- Corporate Reporting as a critical driver of sustainability
- The confusion between social rights and human rights in reporting
- How can companies move towards a sustainable business model
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#35 How to Implement the Taskforce on Nature-related Financial Disclosures (TNFD) Recommendations
In what ways does business interact with nature? What can businesses do about the biodiversity crisis, the loss of wildlife populations or species facing extinction?
In September, the Taskforce on Nature-related Financial Disclosures (TNFD) came up with at least some of the answers, with its recommendations providing the tools and methodologies needed by companies and investors to develop a sustainable relationship with nature.
To discuss it on the podcast this week, Richard Howitt receives TNFD’s Executive Director and Technical Director, Tony Goldner and Emily McKenzie.
You’ll hear more about:
- How can nature present a risk to business
- Where do the TNFD Recommendations fit with the rest of reporting frameworks such as the ESRS or the ISSB Standards.
- The relationship between TNFD and TCFD
- The guidance available to businesses to implement the recommendations, including the LEAP approach
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#34 Maxwell Atuhura & Nicholas Omonuk: Global South's Call for an Effective EU Due Diligence Law
We often hear discussions about corporate accountability being too dominated by developed countries and that we need to hear more voices from the Global South.
What does the global value chain look like from the other end? How do concepts in international documents like the UN Guiding Principles apply on the ground? Is it really possible for victims to get a fair hearing?
To answer these questions this week, Richard Howitt receives Maxwell Atuhura, a farmer and fisherman from Uganda, who for the past six years has been relentlessly defending the rights of people affected by the East African Crude Oil Pipeline (EACOP) linking Uganda with Tanzania. They are joined by Nicholas Omonuk, student and part of End Fossil Occupy Uganda, Rise Up Movement and Fridays For Future MAPA.
You’ll hear more about:
- The negative impacts on human rights and on the climate of oil pipeline projects in Uganda and its region
- The disparities between the green pledges taken by companies and the reality on the ground
- How strong and effective EU sustainability laws, such as the CSDDD, can make a difference across the globe, in particular in Global South countries
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#33 Marie Baumgarts: SFDR Review - What future for sustainable finance?
Since 2018, Europe has been a leader in sustainable finance efforts, establishing its taxonomy on what can be classified as a sustainable investment and requiring investors to disclose how far their investments are sustainable.
More recently, the European Commission opened a consultation on the entire future of the Sustainable Finance Disclosure Regulation (#SFDR). To discuss these crucial issues in the podcast today with Richard Howitt: Marie Baumgarts, sustainability partner at KPMG and member of the EU Platform on Sustainable Finance.
In this conversation, we cover:
- The challenges and opportunities surrounding the regulation
- The necessity of aligning the SFDR with other regulations such as the CSRD and CS3D
- What’s happened to the social taxonomy?
- The current state of health of sustainable finance
- … and more!
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#32 Michael Reckordt: Critical Raw Materials Act, mining boom or environmental and social bust?
Join us for a thought-provoking episode as we delve into the world of critical raw materials.
We've all heard about the global dilemmas surrounding resources like cobalt, essential for the technology in our mobile phones, but often sourced from regions with questionable human rights records.
The energy transition, the production of batteries, electric vehicles, and the transmission of renewable energy all rely heavily on raw materials, including cobalt, nickel, lithium, and rare earth elements. These minerals are concentrated in a few countries, making them susceptible to geopolitical supply disruptions.
International institutions, including the United States and the European Union, have been working on critical minerals strategies, with Europe's proposed Critical Raw Materials Act currently at a pivotal stage.
In this episode, host Richard Howitt engages in a captivating conversation with Michael Reckordt, Resource Policy expert from the German organization Powershift. PowerShift conducts research and develops policies related to international trade, raw materials, and climate policy, all in support of a more ecological and fair global economy.
You’ll hear more about:
- What are Critical Raw Materials, why we need them and what the EU is doing about it
- Sufficiency, circularity and due diligence as key elements to improve the proposal
- The importance of bringing these issues outside of the industry, regulatory and political debate
- The lifestyle we want to have and what we can afford within the planetary boundaries
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#31 Sandra Cossart: Why is ESG increasingly getting its day in court?
The Grantham Institute - Climate Change and the Environment database now records more than 2000 cases of environmental, social and governance (ESG) issues, a tripling of the number since just 2019.
To discuss the rising tide of such legal cases and what's behind them, we welcome Sandra Cossart, Executive Director of Sherpa and strategic litigation expert. Some of Sherpa’s cases include current action seeking to get TotalEnergies to comply with the Paris Climate Agreement, a case seeking judicial investigation against fashion companies for alleged concealment of human trafficking and crimes against humanity in their supply chains and the prosecution of construction company Lafarge for crimes against humanity in Syria.
Find out more about:
- why strategic litigation is important and what are the obstacles
- why we are seeing more and more cases on environmental, social and governance issues
- the importance of civil liability in the CSDDD
- how to get a better balance of power for victims and hold companies accountable
#30 What has business sustainability achieved? Special 50 minutes anniversary debate
To celebrate the first anniversary of the podcast, Richard Howitt welcomes back three of our special guests to bring you up to date on some of those issues and also to look forward to what's going to happen next: Rachel Davis, vice-president and co-founder of Shift, Lene Serpa, director and head of corporate sustainability at A.P. Moller-Maersk, and Filip Gregor, head of Frank Bold’s Responsible Companies Section.
In this episode, you’ll hear more of the debate between our guests:
02:44 Latest state of progress Corporate Sustainability Due Diligence Directive (CS3D)
06:00 Do the debates on the CS3D and CSRD get lost in the details?
08:44 What is “risk” all about in the corporate sustainability field?
16:54 What's new in terms of technology and the R&D in the transport sector?
22:11 Companies’ technological journey and sustainability reporting
26:33 Is the debate around ESG shifting? What is the state of play in the US?
30:53 Geopolitical situation with China and impact on business and human rights
37:10 Looking ahead: insights in current priorities for corporate sustainability
43:13 Rachel D. on the upsides of sports and human rights (Women's World Cup)
45:26 Filip G. positive's perspective on addressing global crises related to climate change, biodiversity, and human rights abuses
48:30 Lene S. on the need to contribute to a better world for the next generations
#29 Filip Gregor: European Sustainability Reporting Standards for business. What’s new and what to do now?
After a short summer break, the Frankly Speaking podcast is excited to be back. Over this summer, we've reached a significant milestone as the European Commission officially released the long-awaited European Sustainability Reporting Standards (ESRS) through a delegated act.
In this episode, we welcome Filip Gregor, member of EFRAG’s Sustainability Reporting Board, researcher, advisor and advocate for corporate sustainability reporting and head of Frank Bold’s Responsible Companies section. We take a closer look at what has changed after last July’s public consultation on the ESRS, what businesses need to know and what to do next.
You’ll hear more about:
The game changing aspects of the ESRSs
The loopholes that the text still presents
How the ESRSs differ from the ISSB standards
EFRAG’s upcoming guidance for businesses
Advice on how companies can prepare to implement the new EU reporting standards
#28 Allan Jorgensen: What the OECD Guidelines update means for responsible business
Frankly Speaking discusses this week the recent update of the OECD Guidelines on multinational enterprises with Allan Jorgensen, Head of the OECD Centre for Responsible Business Conduct since 2021. He was previously Head of Sustainable Trade for Danish logistics company A.P. Moller-Maersk. Prior to that, Allan served in the public sector as Director of Human Rights and Business at the Danish Institute for Human Rights.
The guidelines are the world's principal soft law instrument on responsible business. The OECD describes them as the "most comprehensive international standard on responsible business conduct". They are the only one which is multilaterally negotiated, endorsed by governments and having the unique system to hear complaints known as specific instances, The National Contact Points or NCPs.
You will hear more about:
- What differentiates the OECD Guidelines from other global tools and instruments.
- The major changes on environment and climate change introduced in the guidelines since their last review in 2011.
- How the guidelines are a comprehensive tool for businesses to take ownership of their value chain and potential and actual adverse impacts.
- How responsible business conduct policy transitions from pioneer to mainstream.
#27 David Vermijs: Last chance to influence EU Sustainability Reporting Standards
This week on Frankly Speaking, we welcome David Vermijs and discuss the final draft of the first set of European Sustainability Reporting Standards (ESRS). The draft Delegated Act from the European Commission is currently subject to a feedback period until the 7th of July. David is the Director of Business Engagement at one of the leading organizations on business and human rights in the world, Shift. He is also a member of EFRAG's Sustainability Reporting Board, the body which undertakes the technical work to recommend the new sustainability reporting standards.
You will hear more about:
- the draft proposed by the European Commission and how it differs from EFRAG's recommendations
- how the first set of ESRS needs to look like to be effective
- the opinion coming from the business and investement community
- the role of the EU in the development of robust sustainability reporting standards worldwide
#26 Giulia Bondi: Unpacking the new EU Deforestation Regulation
For this episode, we invited Giulia Bondi to discuss the new EU Deforestation Regulation recently adopted and the role of businesses in saving the world's forests. Giulia is a Senior EU Campaigner on Forests at the investigatory organisation Global Witness. Giulia has been part of the European Union policy community for over ten years and is a leading voice on the matter.
We take a deep dive on:
the role and responsibility of global supply chains in the destruction of our forests,
how companies can go deforestation-free,
what the EU is doing about it,
how the rest of the world can step up their efforts to protect biodiversity and local communities.
#25 Sonja Haut: Why ‘impact’ of the business is the next big thing
This week, we welcome Sonja Haut to discuss ‘impact’ - the idea that companies can calculate and use valuations of how the business affects society and the environment, and investors can put their money into supporting it. Sonja is a true pioneer and has published a book called ‘The Case for Impact’. She is Head of Impact Valuation at the pharmaceuticals company Novartis and a member of the World Economic Forum Futures Council.
Find out more about impact economy, the role of transparency, corporate purpose, and more!
#24 Agnese Ruggiero: Europe’s new green tariff on imports
Frankly Speaking is discussing carbon tariffs this week: In May 2023, the European Union's green tariff, known as the Carbon Border Adjustment Mechanism or CBAM, came into force. We are discussing this development with one of its key advocates, Agnese Ruggiero, Policy Lead at Carbon Market Watch, an independent watchdog working on carbon pricing, carbon markets and industrial decarbonisation.
Listen in to a conversation about:
What the carbon border adjustment mechanism is, how it will work and why it is important
Its relationship to the emissions’ trading scheme
Climate finance for developing countries
The United States’ decision to subsidize decarbonisation
How it relates to international trade rules
Promoting further pathways to decarbonisation
#23 Bennett Freeman: SEC climate rules and ESG backlash in the United States - What’s really happening?
In this episode Frankly Speaking is focusing on the United States, where the Securities and Exchange Commission is about to issue binding rules for US companies to report on climate. But where there's been the so-called ESG backlash, with 17 states having passed legislation banning ESG investment and where President Biden's first veto was against an attempt to block this at the federal level. We welcome Bennett Freeman, former US Deputy Assistant Secretary of State for Democracy, Human Rights and Labor, to explain what’s happening. Bennett is also a former Senior Vice President at Calvert Investments, one of the largest responsible investors in the United States and whose many activities today include serving as Associate Fellow at the think tank Chatham House.
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#22: Antje von Dewitz: How 'responsibility' applies to all sizes of company
Frankly Speaking welcomes Antje von Dewitz, Chief Executive Officer of the outdoor brand Vaude, based in rural southern Germany. Vaude has won awards as Germany's greenest company and Antje is an ambassador for the Economy for the Common Good, served as vice president of her industry body, the European Outdoor Group, and she is a past winner of Vanity Fair's Changing Your Mind award.
Listen in and share our conversation about:
Why transforming Vaude to a sustainable company
How to convince suppliers to change, to become carbon neutral
Evaluation of the Germany Supply Chain Act
Sustainability being perceived as a burden for a medium-sized company
Why liability is a necessary part of due diligence
The challenge of strengthening workers’ rights in non-democratic countries
Being one of a few women business leaders in the mountain sports and outdoor goods industry
The question of growth and scaling up a sustainable business
Taking sabbaticals
#21 Beate Sjåfjell: Is shareholder primacy consistent with sustainability?
Frankly Speaking welcomes Professor Beate Sjåfjell, who publishes extensively on corporate governance and the integration of sustainability in the role of the company boards, to talk about company law. Beate heads the research group on Sustainability Law at the University of Oslo, is a member of the European Commission’s Informal Group of Company Law Experts and founded an international network of women business scholars Daughters of Themis: International Network of Women Business Scholars. Listen in to a conversation about:
Shareholder value versus shareholder primacy
Fiduciary duties
Corporate governance frameworks around Europe and the Anglo-Saxon traditions
Why not to replace shareholder primacy with stakeholder primacy
Sustainable value creation as an emerging concept
How to take planetary boundaries into account in decision making
Corporate Sustainability Due Diligence Directive and its implications for boards and liability
Gender as a agent of change for business
#20 Dimitri Vergne: The new EU anti-greenwashing law - what you need to know
Frankly Speaking welcomes Dimitri Vergne, team leader for sustainability at the European Consumer Organisation BEUC to discuss the newly published EU anti-greenwashing law, the draft Directive on green claims. Dimitri has been a principal advocate for this law and explains what it means for consumers and for business.
He shares his insights on:
The greenwashing problem and claims of carbon neutrality
Key elements of the draft law and its enforcement
Benefits for companies
Product environmental footprint methodologies
Consumer groups bringing legal action
The right to repair proposal
#19 Isabelle Schömann: Trade unions, human rights and democracy
Frankly Speaking has invited Isabelle Schömann, elected Confederal Secretary of the European Trade Union Confederation, representing 45 million members in 39 countries. Isabelle has been playing a leading role in proposals around corporate transparency and due diligence in Europe and is a member of the standard setting board at the European Financial Reporting Advisory Group. Previously, she was principal advisor to the Regulatory Scrutiny Board of the European Commission and senior researcher at the European Trade Union Institute.
Isabelle shares her insights on:
- Where trade unions stand on responsible business conduct
- Key issues in the Corporate Sustainability Due Diligence proposal for trade unions
- Whether the due diligence proposal will make a difference on the ground level of global value chains
- Reporting standards on the workforce in the value chain
- Trade unions operating in authoritarian environments and why democracy at workplace is essential
- Simply: how to speak with trade unions - if there is no formal system
#18 Lene Serpa: What makes integrity in business
The New Climate Institute has just released its Corporate Climate Responsibility Monitor 2023, ranking the Danish transport logistics company A.P. Moller - Maersk, which operates the largest container shipping fleet in the world, as the highest in terms of the integrity of its net zero pledge. Frankly Speaking has invited Lene Serpa, who has led the company's sustainability efforts for the past twelve years and is Chair of the Global Compact Network Denmark. She is also co-author of a book on integrating sustainability into corporate strategy (Squaring the Sustainability Circle). Listen to this conversation about:
- Integrity of net zero plans and climate targets
- Key levers for the green transition of the shipping industry and challenges of the sector
- Call for a carbon tax
- Sustainability due diligence and alignment with international standards
- Whether global trade is sustainable
#17 David Atkin: New directions for the Principles for Responsible Investment
After a little more than one year since he was appointed new CEO of the Principles for Responsible Investment, PRI, founded by the United Nations, David is sharing insights into new directions on Frankly Speaking. The PRI’s six Principles of Responsible Investment have more than 5000 signatories worldwide and since David’s arrival, the PRI has finished a worldwide consultation which will lead to some important decisions by its board later this month. David is a pensions industry leader who has previously been CEO of three asset owners in his native Australia, and he was once ranked as the third most significant and impactful asset owner in the world.
Listen to this conversation about:
- System change and the responses from policy-makers
- Regional cooperation and voluntary pathways of transition
- Complementing other initiatives in the responsible investment ecosystem
- ESG backlash
- Greenwashing
- The disjunction between the growth of ESG investment and the need for finance for the sustainable development goals
#16 Philippe Zaouati: Impact investment and the role of regulation
Frankly Speaking has invited the founder and CEO of Mirova, a 30 billion Euros sustainability focused asset manager based in Paris. Philippe Zaouati has proven that it is possible to scale up ESG investing. Mirova has grown fourfold in just the last five years. Philippe was a member of the High-Level Expert Group on Sustainable Finance, which led to the establishment of the EU Sustainable Finance Action Plan. He describes himself as a sustainable finance activist and shares his take on:
- The ISSB’s approach to sustainability reporting
- Greenwashing and the push back against ESG investing
- Why more strategic regulation and policy-making is needed
- How to improve legislation
- Investing into companies who are authentic about their transition
- The biodiversity crisis as the next challenge to tackle
- From socially responsible investment to impact investment
- Scaling up: Can big investors become ESG investors?
#15 Sebastien Godinot: Key issues for corporate sustainability in 2023
Happy New Year! In our first Frankly Speaking podcast for 2023, we welcome Sebastien Godinot, chief economist and head of the sustainable finance unit at WWF’s EU Office. We reflect on upcoming developments in 2023, amongst them:
- Closing gaps in corporate sustainability reporting
- Spurt in energy efficiency and renewable energy
- Moving beyond disclosure to corporate due diligence
- Biodiversity and the Taskforce on Nature-related Financial Disclosure
- Extending the EU Taxonomy
- Geopolitics affecting the agenda: Brazil and the United States
- Net Positive and Regenerative Economics
Plus: comments on last year’s experiences, such as walking out of the EU Sustainable Finance Platform!
#14 Filip Gregor: A quick guide on the EU reporting standards
Frankly speaking welcomes Filip Gregor who guides our listeners through the draft EU sustainability reporting standards that have recently been submitted to the European Commission. Filip was closely involved in the development of those standards as a member of the European Sustainability Reporting Standards Board of EFRAG. He is the head of the Responsible Companies at Frank Bold, a board member at the European Coalition for Corporate Justice and of the OECD National Contact Point in the Czech Republic, where he is based. Listen in to learn more about:
- Key topics from draft EU sustainability standards (ESRS)
- Climate transition plans and sustainability due diligence
- Why a company can't have good sustainability related financial reporting if it doesn't know its impacts
- Why the EU's overarching approach to sustainability leads to coherent standards
- What are the next steps and how sector specific standards come into the picture
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Useful resources:
- First set of the sector-agnostic draft ESRS: https://efrag.org/lab6
- Key KPIs from the draft ESRS (Frank Bold): http://bit.ly/3uNM1Co
- Joint CSO's reaction on the publication of the draft ESRS: https://bit.ly/3Oxvbkb
#13 Fernanda Hopenhaym: Reflections on the 11th UN Business and Human Rights Forum
The new Chair of the United Nations Working Group on Business and Human Rights, Fernanda Hopenhaym, joins Frankly Speaking to reflect on the key insights from last week’s global gathering of 1000 businesses, government and civil society representatives. A Uruguayan Mexican researcher and advocate who has been active in civil society organisations and social movements for over 20 years, Fernanda is currently the executive director of PODER, which promotes corporate transparency and accountability across Latin American countries.
Listen in to learn more about:
- How rights-holders were at the center of all the discussions
- Rebalancing of power between corporations and citizens and local communities
- Russian invasion of Ukraine and human rights in times of conflicts
- State of play of the negotiations of the international legally binding instrument on business and human rights
- Responsible lobbying vs. corporate capture
- What's next on the UN Working Group agenda
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Useful resources:
- UN experts launch new guidance for businesses working in conflict-affected regions: https://bit.ly/3P9mwVj
- ECSR NET: Corporate Capture Project: https://bit.ly/3XWL2Nz
- Business engagement with political processes must not lead to human rights abuses: UN experts: https://bit.ly/3XVveKO
- Summary of the 11th UN Business and Human Rights Forum in the series of articles by Richard Howitt: https://bit.ly/3F5ZRER
#12 Chloe Cranston on modern slavery and Uyghur forced labour
Frankly Speaking has invited one of the leading advocates on responsible business and modern slavery for the non-governmental organisation Anti-Slavery International. Chloe and ASI have led efforts to address the 1 million mostly Muslim Uyghur population whom human rights groups and journalists report have been imprisoned in so-called re-education camps in China's northwestern region of Xinjiang. We are discussing what business from the textile or solar sector, financial institutions, policymakers and mainly activists themselves have done and could do to stop forced labour, finding its way into the goods and services which we buy and use. Listen in and share our conversation!
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Useful resources:
- ILO: 50 million people worldwide in modern slavery
- OHCHR Assessment of human rights concerns in the Xinjiang Uyghur Autonomous Region, People’s Republic of China
- Sheffield Hallam University report exposes solar panel industry Uyghur forced labour links (full report)
- Coalition to End Uyghur forced labour
- Cotton Pledges Against Forced Labor
#11 Rachel Davis (Shift) on business & human rights and sports
The Football World Cup in Qatar has just started and Frankly Speaking welcomes Rachel Davis, Co-founder of Shift, the leading center of expertise on the UN Guiding Principles on Business and Human Rights. We reflect on Rachel's role in the development of the Guiding Principles, discuss the EU Council negotiations on the upcoming due diligence legislation, the crucial role of the risk-based approach as well as human rights issues in Qatar and how vital it is for the international community to stay engaged after the final whistle of the FIFA World Cup´s final.
Listen in and share our conversation!
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Useful resources:
- The International Olympic Committee (IOC)’s Strategic Framework on Human Rights
- NGOs & football groups call on FIFA to establish comprehensive remedy programme in Qatar 2022
- A message from the Socceroos (Australian football team) on the World Cup in Qatar
- Lara Wolter´s draft report on Corporate Sustainability Due Diligence Directive
#10 Christoph Töpfer on climate reporting and environmental due diligence
It’s week two of the 27th UN Climate Conference and Frankly Speaking welcomes Germany's leading expert on business sustainability and climate reporting, Christoph Töpfer from the German Environment Agency (Umweltbundesamt), to talk about draft climate reporting standards in Europe and globally, transition plans (and what must be in it), environmental due diligence and how companies can assess their environmental risks. Listen in and share our conversation!
Please note that this conversation reflects Christoph‘s own views and must not be interpreted as a position of the German federal government.
#9 Richard Gardiner (WBA) on the Sustainability Performance of Financial Institutions
In the week of the 27th UN Climate Conference, Frankly Speaking, welcomes Richard Gardiner, EU Public Policy Lead of the World Benchmarking Alliance which has launched its new financial system benchmark, assessing 400 of the world's major banks, asset owners, asset managers and insurers on their sustainability performance. We talk about the role of finance in Europe's proposed Corporate Sustainability Due Diligence Directive, the need for concrete pathways to achieve 2050 climate targets, the missing peer pressure, and the interaction of disclosure and due diligence requirements. Listen in and share our conversation!
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2022 Financial System Benchmark by World Benchmarking Alliance → bit.ly/FinancialSB22
#8 Julien Lavarini (Lorenz) on implementing due diligence in a medium-sized company
What does a risk-based approach of a snack company look like in practice? Frankly Speaking has invited Julien Lavarini, Manager of Finance and Responsible Supply Chain at the family owned Lorenz Snack-World, to share experiences with risk management tools, audits and sector-wide approaches in the cashew supply chain. But Julien also has some comments on the legislative developments. Listen in!
#7 Théo Jaekel on Downstream Due Diligence
Freedom of speech, right to privacy, state interference and misuse of surveillance equipment are just some of the major human rights impacts a telecom company such as Ericsson has to address. Frankly Speaking has invited Théo Jaekel, Ericsson’s Business and Human Rights Director, to share lessons learnt and his expectations for a new EU law on due diligence that is currently in the making. He claims that every company will become a tech company in the future facing some of these challenges. Listen in!
#6 Marilyn Waite: Addressing Climate Change through Green Finance
ESG standards and green investments are globally on the rise. Frankly Speaking has invited one of the world’s leading advocates, Marilyn Waite, Managing Director of the Climate Finance Fund, and member of EFRAG´s administrative board to discuss the developments in the EU, US and China. Hear more about the role of public and private finance, consumer action and fintech innovations and discover:
- What it means to call for alignment with the Paris agreement
- How banks measure and disclose their finance emissions, relying on the Partnership for Carbon Accounting Financials
- How to get the numbers of green finances where they need to be
- Why China's central bank is world's most advanced Central Bank when it comes to climate change
- How you can leverage your money for climate action!
#5 Rahel Damamme (Decathlon): From Legislation to Business Practice
This week on Frankly Speaking, we’ll be talking sports goods, value chains and sustainability standards. Rahel Damamme, ESG and Sustainability Reporting Leader at Decathlon, one of the world's largest sports good retailer with over 2000 stores in 60 countries, shares her experiences on how reporting and due diligence legislation has helped the company move ahead, how to change things from within a company, and about her efforts in Long Covid Association France. Listen in!
#4 Lara Wolters: Towards an Ambitious EU Due Diligence Legislation
The European proposal for a due diligence legislation is currently being discussed by the EU Parliament and the Council. Frankly Speaking has invited its foremost advocate in the EU institutions Lara Wolters, Dutch member of the European Parliament, who is its parliamentary rapporteur and is steering the legislation through the Parliament and the other EU institutions. Lara shares her view on the key elements, what responsibility means and why she will be fighting for an ambitious outcome. Listen in and share our conversation!
#3 CEO of the GRI: Reporting on Impacts
The Global Reporting Initiative (GRI) has been one of the pioneers in the field of impact reporting - celebrating its 25th birthday! Frankly Speaking has invited its CEO, Eelco van der Enden, to speak about GRI’s relationship with other reporting standards, questions of alignment and why ESG should be tackled as a whole. He has something to tell about tax reporting as well! Tune in!
#2 Olena Uvarova & Anita Ramasastry on Due Diligence in Times of War
Since the start of the Russian war in Ukraine, many European companies have struggled with the challenges of conducting business in the region responsibly. Frankly Speaking has invited Olena Uvarova, Associate Professor at Yaroslav Mudryi National Law University, and Anita Ramasastry, Professor at the University of Washington School of Law and former member of the UN Working Group on Business and Human Rights. The two leading experts share insights on the role of business in armed conflict, such as how the exit of international companies posed a threat to Ukrainians. They discuss whether there is any justification for business to stay in Russia and the difference human rights due diligence makes in responding to a global crisis, whether it’s a pandemic or an armed conflict.
#1 Wim Bartels on Development of the European Reporting Standards
There has been a critical debate around the first publication of the Draft EU Reporting Standards for companies. Frankly Speaking has asked Wim Bartels, a member of the Sustainability Reporting Board, for his views on the timeline, key concepts and the relationship of EU and emerging international standards - and about the role of accountants in all of this!