Your Future as an ESG Pioneer
Harnessing the power of business to make a positive impact is increasingly defined by the three letters: ESG. The Environmental, Social, and Governance movement is reshaping corporate priorities, driving policy changes, and inspiring innovative products across various industries. Wharton Global Youth caught up with undergrads at the Wharton School of the University of Pennsylvania who are laying the foundation for careers as ESG business changemakers.
Internships and Innovation
Sapphira C., a senior at the Wharton School, has dedicated her college years to exploring ESG. Combining finance, entrepreneurship, and public policy, Sapphira has interned at leading ESG finance companies and is currently a Senior Fellow at the Wharton ESG Initiative. She is passionate about impact investing that builds wealth while benefiting society and the environment. Through her experiences, Sapphira has identified important ESG trends, such as the need for improved measurement of environmental, social, and governance impact, as well as increased transparency from companies.
Sapphira founded the Penn Innovation Network, an ESG innovation club, recognizing the intersection of ESG and innovation across industries. She believes that innovation and creative thinking are vital to address the constantly evolving ESG landscape.
💡 An ESG insight that Sapphira wants to share? Climate Hypocrisy Risk. This refers to companies presenting a facade of climate consideration while engaging in non-ESG-compliant behavior, exemplified by practices like "ghost flights" during the pandemic.
Sustainable Economic Models
Muhammad V., a student at the Wharton School, has a deep belief in sustainable business practices. Through his research on the UAE Central Bank's monetary policy during the COVID-19 crisis, Muhammad recognized the complex process of transitioning away from non-renewable resources. He has added Business, Energy, Environment, and Sustainability to his studies, aiming to help organizations align their goals with broader social and environmental objectives.
Muhammad witnessed geographical differences in the receptiveness to ESG principles during his M&A work in Dubai. He emphasizes the fundamental shift that ESG brings to how businesses operate and contribute to society. By embracing ESG principles, companies position themselves to be more competitive in the long run, attracting top talent, navigating risks, and meeting the expectations of conscious consumers.
💡 An ESG insight that Muhammad wants to share? The prediction by venture capitalist Chamath Palihapitiya that the next trillionaire would emerge from climate change-related ventures, highlighting the growing significance of environmental and social impact in the business world.
Community Health Care
Amy W., pursuing degrees in neuroscience and economics with a concentration in health care management, is passionate about combating neurodegenerative conditions and increasing health care access for older adults. Volunteering in nursing homes has exposed her to the challenges faced by this population, motivating her to affect positive change in health care.
Amy aspires to become a doctor and apply her business education to push for initiatives that improve health care access for older adults. She urges others to engage with their communities, stay informed about current issues, and strive to make an impact.
💡 ESG insights that Amy wants to share? Neurodegeneration, which she researched in the Rhoades Lab at Penn, and her experience in clinical trial management at Regeneron. Both experiences focused on making a positive impact for patients and their families.
In conclusion, these student profiles demonstrate the diverse paths and passions within the ESG movement. Whether through finance, innovation, sustainable business practices, or health care, these students exemplify the potential for ESG principles to drive positive change across various industries and professional settings.
ESG Pioneers Shaping the Future of US Business
The rise of the Environmental, Social, and Governance (ESG) movement is not just a trend, but a paradigm shift that is transforming the US business landscape. This shift is being driven by a new generation of business leaders, like those at the Wharton School, who are embracing ESG principles and reshaping corporate priorities. These ESG pioneers are not only driving policy changes and inspiring innovative products, but also setting the stage for the future of business.
For new companies, this ESG wave presents both challenges and opportunities. On one hand, they must navigate a complex landscape of evolving ESG standards, increased transparency demands, and the risk of "Climate Hypocrisy." On the other hand, embracing ESG principles can position companies to be more competitive in the long run, attracting top talent, navigating risks, and meeting the expectations of increasingly conscious consumers.
Moreover, the ESG movement is not confined to any single industry. From finance and innovation to sustainable business practices and health care, ESG principles are driving positive change across various sectors. The prediction by venture capitalist Chamath Palihapitiya that the next trillionaire would emerge from climate change-related ventures underscores the growing significance of ESG in the business world.
In conclusion, the rise of ESG pioneers signals a new era for US businesses. As these young leaders demonstrate, the future of business lies in aligning corporate goals with broader social and environmental objectives. For new companies, navigating this ESG landscape will be key to their success in the coming years.
Original Story By: Kellogg School of Management at Northwestern University