Organizational Update

It has been a busy fall. Our team completed research into biodiversity and nature-positive business strategies, growing stakeholder concerns about carbon capture and hydrogen, and operationalizing environmental justice, which was a core theme of our two-day Corporate Affinity Network meeting held in Seattle in September. In addition, we hosted a carbon capture expert to explore why some advocates are skeptical and what is needed to build trust to enable such projects to proceed.

Future 500 Project Research Spotlight on Biodiversity, Environmental Justice, and False Climate Solutions

We recently wrapped up three research projects assessing stakeholder expectations on corporate best practices on (1) Biodiversity and Nature-Positive Business Strategies, (2) Operationalizing Environmental Justice (EJ), and (3) growing stakeholder concerns toward some climate solutions incentivized by the Inflation Reduction Act (IRA).

1. On biodiversity and nature-based solutions, we found that funders, advocates, and companies have had myopic “carbon tunnel vision,” prioritizing carbon reduction without sufficiently considering the system dynamics of landscape-level biodiversity and equitable access to the sustainable use of natural resources. The funding and advocacy networks are moving quickly to address this gap, calling for investors and companies to move beyond nature-based solutions toward nature-positive business strategies that consider biodiversity AND, climate, AND people across their global supply chains. This is motivating large companies and their value chains, with EU companies leading, to implement such biodiversity strategies, positioning to align with emerging reporting frameworks like the Task Force on Nature Financial-Related Disclosures (TNFD) and the Science-Based Target for Nature (SBTN) to guide their measuring and reporting efforts.

Ultimately, as with environmental justice, biodiversity strategies require adaptable place-based, in this case, landscape-level approaches that seek to identify and knit together key regional spots to conserve, protect, and restore in partnership with the local people, which takes forethought, intentionality, and sustained commitment.

Lastly, stakeholders increasingly view carbon and biodiversity offsets skeptically. If companies opt to use them, such offsets should be vetted by a 3rd-parties respected by stakeholders, and tied to the impacted landscape and people where corporate operations occur to mitigate greenwashing risk.

2.  We have begun summarizing topline insights from our Environmental Justice (EJ) research in a three-part blog, the first of which explores “Why companies should be paying attention to Environmental Justice.” Stay tuned for part 2.

3.  Our team is closely watching the $300 billion Inflation Reduction Act (IRA) and the $53 billion CHIPS & Science Act as meta-influencers on stakeholder advocacy campaigns targeting companies. While both enable substantive investment in the technologies and approaches needed to drive down carbon emissions across sectors, when such significant money flows, the opportunity for greenwashing grows — what social and environmental advocates call “False Climate Solutions.” In response, we are seeing funders and advocates across the political spectrum mobilize quickly to pressure regulators and companies to apply sustained engagement, transparency, and rigor to these projects, and if such transparency is not forthcoming, activating campaigns to delay and stop such projects.

We like to say that “you can only move at the Speed of Trust.” So, we advise companies to do the proactive, hard work of stakeholder engagement upfront and throughout their projects to build durable, trust-based relationships, as simply getting a permit for your project and funding from the government will not guarantee a social license to operate if the community does not trust you. This will require companies to change their expectations, as such engagement will cost more in money and time upfront, but will invariably save companies and their stakeholders significant money, time, and heartache over the long term if trust erodes.

To learn more about our strategic stakeholder mapping, planning, and engagement work, contact us at info@future500.org, and someone on our team will contact you.

Our Corporate Affinity Network (CAN)

Our October Virtual Gathering exploring challenges and opportunities for carbon capture and sequestration (CCS) with Ashleigh Ross

Our Corporate Affinity Network (CAN) and invited guests had an engaging discussion risks and opportunities for carbon capture and sequestration (CCS) with Ashleigh Ross, VP of Strategic Engagements & Policy, Carbon America, who “started working on carbon capture before Google became a verb.” Ashleigh voiced insights from over 20 years working in the CCS space, which Future 500’s Phoebe Fu captured in a succinct blog, "Carbon Capture Beyond the Permit."

For more information on our corporate network, please email Future 500 Director, Brendon Steele, at bsteele@future500.org.

Corporate Affinity Network (CAN) February 2024

We are busy planning our next Corporate Affinity Network meeting for February 2024 on how investors, companies, and advocates are moving beyond the politics of ESG on critical issues like climate, environmental justice, and biodiversity.

GreenBiz 24 February 12-14, 2004 Phoenix, AZ

Elevate your company’s sustainability efforts by participating in GreenBiz 24 (Feb. 12-14, Phoenix, AZ), the premier event for sustainable business leaders seeking hands-on, tangible solutions. Join this growing community of over 2,500 professionals to gain fresh insights from peers, trailblazers and unexpected voices in decarbonization, supply chains, biodiversity and much more – so you can continue accelerating your impact and your career.  Apply the 10% discount code GB24F500 when registering at: https://buff.ly/3sRWNJZ

Recent Headlines That Got Our Attention

Jessica Hammett