The challenge for many corporate leaders is that they aren’t sure how to do that. Der Dom St. Marien ist eine evangelisch-lutherische Kirche am Untermarkt im sächsischen Freiberg.Vor der Reformation war das Gotteshaus eine Stiftskirche, eine Kathedrale (Bischofskirche) war es nie. Source: Harvard Business School This technical note explores how advancements in technology are fundamentally transforming how consumers interact with mobility. Jean Rogers is the founder and former CEO of the Sustainability Accounting Standards 1 talking about this. Faculty Publications (27) ; Electric Vehicle → They lack understanding of exactly where they should be focusing their attention and how they should be communicating their ESG efforts. As the ESG field continues to mature, investors will be looking at how organizations are structured to deliver on their stated purpose. The implementation of an ESG strategy involves large operational and strategic changes. Frazier described such an initiative when he spoke about Merck’s effort to develop an Ebola vaccine: “It would have been impossible to say…‘We won’t go there, because we don’t see a robust commercial market.’ And I think that’s part of what [we are] talking about in terms of having a purpose-driven organization.”. by David Freiberg, Katie Panella, George Serafeim, and T. Robert Zochowski. When Paul Polman became the CEO of Unilever, then an underperforming consumer goods giant, he immediately ended quarterly earnings guidance and was explicit about his commitment to long-term strategy rather than short-term profits. The case explores the results of their fundraising efforts, new strategic partnerships and how they plan to "build the market" in order to achieve future, sustained success in building funds comprised of diverse entrepreneurs. The former, he writes, “means performing similar activities better than rivals”; the latter “is about being different.” Following Porter’s distinction, an ESG program may deliver efficiencies and other operational improvements—maybe even some that are necessary for corporate survival—but it will boost long-term financial performance only if it provides strategic differentiation from competitors. That’s because companies are likely to be more resilient in the face of unexpected shocks and hardships if they are managed for the long term and in line with societal megatrends, such as inclusion and climate change. Harvard Business School, +2 more. Auf LinkedIn können Sie sich das vollständige Profil ansehen und mehr über die Kontakte von David Freiberg und Jobs bei ähnlichen Unternehmen erfahren. (Materiality was identified by the Sustainability Accounting Standards Board, or SASB, which offers a list of salient issues for 77 industries. Previously, Katie was a Senior Consultant at Oliver Wyman. After long contemplation following the financial crisis, Indahl was convinced the financial system was producing negative externalities and that the current private equity model adopted by most firms would no longer be successful. X We use cookies to understand how you use our site and to improve your experience, including personalizing content. Add to Coursepack. Buy books, tools, case studies, and articles on leadership, strategy, innovation, and other business and management topics Some companies are already experimenting with impact-weighted accounting. Post- Class Supplementary Readings: Serafeim, George, and David Freiberg. Harvard Business School March 2012 – January 2015 2 years 11 months. The aim is to create products that can be reused, refurbished, remanufactured, or recycled, thereby extending their lifespan. Though the science to do this has yet to be perfected, such a system holds great promise for three reasons: It would translate impacts into units of measurement that business managers and investors understand; it would allow for the use of financial and business analysis tools to consider those impacts; and it would enable an aggregation and comparison of analyses across types of impact that would not be possible without standardized units of measurement. View the profiles of professionals named "David Freiberg" on LinkedIn. Screenshot 2021-03-24 at 3.21.35 PM.png - Post Class Supplementary Readings Serafeim George and David Freiberg\"Turnaround at Norsk Gjenvinning(B Harvard Rob is the Program Director and Senior Researcher for Multi-Faculty Sustainability and Impact Investing Special Projects, including The Impact-Weighted Accounts Project, the Social Impact Collaboratory, and the Project on Impact Investments at Harvard Business School. Teaching Note. "Summa Equity: Building Purpose-Driven Organizations." His work addresses the societal issues of climate change, corporate purpose, inequality, resource scarcity and automation in the context of accounting standards, target setting, corporate structure, asset allocation and innovation. His research focuses on impact measurement and understanding the financial materiality of environmental, social and governance (ESG) issues, and has received the Award for Impact Research of the Year from Environmental Finance .