ESG in 3: One Company’s Remarkable Journey to ESG Leadership – Conversation with Energy Recovery Inc.
On July 14-15, Ben Herskowitz of our ESG and Sustainability Advisory Solutions Team sat down with Joshua Ballard of Energy Recovery Inc. for a candid and informative discussion on why the company prioritized embedding the ESG and sustainability mindset into its corporate DNA and how they accomplished it in just three short years. Several key takeaways emerged from the moderated discussion and the ensuing Q&A session.
Key Takeaways:
Culture Drives Change
- Energy Recovery Inc. built their ESG and sustainability program from the ground up and began with an earnest examination of what ESG meant to the organization, its people and its external stakeholders. Culture was a major component that ultimately drove the changes that took place at an amazing speed. How to institutionalize ESG principles and embed sustainability in the corporate DNA? Josh simply stated, “Communication, communication, communication! We talked about it a lot.”
Be Authentic, Seek Meaning, Accountability and Sustainability
- Energy Recovery faced numerous challenges as it worked to embed ESG principles into its strategy and design a realistic implementation roadmap. By being authentic in its communications, and developing and implementing meaningful, measurable and repeatable strategies to approach ESG and sustainability initiatives, allowed ERI to successfully secure internal and external buy-in.
Don’t Go It Alone. Ask for Advice
- Energy Recovery realized it can create more impact with external expertise, and therefore formed a close working relationship with FTI Consulting’s ESG and Sustainability Advisory Solutions Team over the past 3 years. As Energy Recovery’ approach to ESG matures, it will continue to enlist the help of advisors to support stakeholder engagement and the formulation and stress-testing of relevant operational, reporting, and communications strategies.
Embed ESG and Sustainability in the Corporate DNA
- Energy Recovery has and will continue to meaningfully weave ESG and sustainability considerations into the decision-making and budget planning processes of the executive team. With ESG and sustainability considerations integrated into strategic decision-making, Energy Recovery aims to create greater long-term value for all stakeholders.
To watch the panel, view the video below.
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