JOBS – How is the nature of work changing as companies move toward a more socially and environmentally sustainable world?

The best way to predict the future is to create it.

– Abraham Lincoln

Under the radar for many, and most recently obscured by the ravages of Covid-19, the landscape for future jobs may be dramatically improving for the long term. 

Green and sustainably oriented companies are not only delivering on their ESG mandate, but other tangible dividends are providing a shot in the arm for the American worker and the communities that sorely need new purpose. We can see now how the promise of a new infrastructure for a new age goes way beyond merely saving the planet.

According to the U.S. Bureau of Labor Statistics (9/20) two of the three fastest growing occupations projected over the next 10 years are jobs that didn’t even exist not too long ago:

#1 – Wind Turbine Service Technicians; and

#3 – Solar Photovoltaic Installers

(Nurse practitioners was #2)

Jobs like these in sustainably oriented companies now represent a powerful new resource for the middle class, with both white and blue-collar standing to benefit, mostly with good pay and benefits. And just in time, as jobs are being lost in the traditional energy sector due to technology and mechanical advancements. And investors who are lining up are winning as well.

In this issue of the Socially Inspired Investor (SII) we continue to focus on how the nature of Work and Jobs is changing. In our Podcast his month our host Pat O’Neil talks with Yana Kravtsova, Executive Vice President, Communication, Public and Environmental Affairs at Enviva LP., a leader in alternative energy producing wood pellets. Enviva is an example of a company that is providing new jobs, retraining opportunities and even conversions of old coal-based power plants. 

The Spotlight on section poses the question to leaders in the ESG Investing community, “How is the nature of work changing as companies move toward a more socially and environmentally sustainable world? “, and our Basic Investing section continues to build your foundation.

We wish you a happy and healthy New Year. 

How is the nature of work changing as companies move toward a more socially and environmentally sustainable world?

We reached out to leading experts in the ESG investing industry to find out their responses, and this is what we found…

QUESTIONHow is the nature of work changing as companies move toward a more socially and environmentally sustainable world?

ANSWERChristina Shim, Managing Director, Commercial Innovation Practice, Americas at Palladium: Make it Possible

ANSWERIt is impossible to untangle this with the changes we’ve all experienced as a result of the pandemic. The nature of ‘what’ work is vs ‘how’ work is accomplished has fundamentally shifted in the past 10 months. As companies continue to evolve towards sustainability progress for trends and reasons beyond Covid, the essential mandate of their business and model is slowly forced to adapt as well. This includes the need to integrate greater diversity and inclusion in the workforce. It includes understanding and creating transparency and traceability in supply chain. At its essence, it’s about embedding sustainability – financial, social, environmental – all into the core of the company’s strategy and operations. This is no longer a nice to have – it’s a must have.  

QUESTIONHow is the nature of work changing as companies move toward a more socially and environmentally sustainable world?

ANSWERRabo Garba, Senior Consultant at Ernst & Young

ANSWEREvents of 2020 accelerated trends in sustainability and technology adoption. Companies and individuals seem to have a greater focus on systemic issues that affect society and the environment. Demand is developing for individuals that understand complex supply chains and can identify innovative business models, partnerships, and technology applications to extend decarbonization efforts beyond a company’s operations. Manipulating and understanding large data sets is critical and must be combined with new insights to solve structural problems created by our current systems.

ANSWER(These remarks are solely my own. Not representative of my employer or any other affiliated institution or organization)

QUESTIONHow is the nature of work changing as companies move toward a more socially and environmentally sustainable world?

ANSWERPaul Ellis, Sustainable Finance Consultant & Host of The Sustainable Finance Podcast 

ANSWERThe COVID-19 pandemic has exposed the changing nature of work in the U.S. economy as a physical and transition Climate Risk with far-reaching social and financial implications. Front-line healthcare and service workers are at significantly higher physical risk while earning less for their labor than those of us in WFH jobs with more flexible childcare and family care options. Many public/private sector companies are struggling to retain experienced staff, with some better prepared than others to meet these challenges. In 2020 the pandemic has sent a “loud and clear” message regarding the need for more and better public/private policy partnerships regarding the nature of work if we want to “Build Back Better”.      

QUESTIONHow is the nature of work changing as companies move toward a more socially and environmentally sustainable world?

ANSWERDoug Willmore, Chief Executive Officer – World Tree

ANSWERAt World Tree, we have found that our mission and values have become more important than ever. We have many potential employees that search us out specifically because of what we do and how we are doing it. Finally, I think the rest of the world is moving to what World Tree has been for many years – a virtual company. While we have an office in LA, almost all of our employees work virtually around the hemisphere. Being able to live wherever they want, work wherever they want, and not having to commute is a huge attraction to current and potential employees.