Material Engagement (with suppliment included)Nawar Alsaadi
Material Engagement is the missing link between the sharp growth in ESG aligned assets, and the lack of progress on many of the pressing environmental, social and governance issues facing humanity today. The sustainability priorities of Material Engagement are grounded in human rights by virtue of its focus on the 2030 UN Sustainable Development Goals (SDGs). Furthermore, by linking the SDGs to SASB’s Materiality Map, the Material Engagement approach provides the legal, commercial, and strategic impetus for companies to make the SDGs a reality. Said another way, Material Engagement is an approach that combines the heart (SDGs) with the brain (SASB) thus birthing a new sustainable business reality, one that’s rooted in human rights, and guided by the power and genius of private enterprise. In addition to its powerful intellectual and moral foundation, Material Engagement offers a turn-key sustainability engagement solution, with relevant KPIs, scope and milestones blueprints, clear timelines, escalation pathways, and communication methods. Material Engagement is the missing link between the world we have, and the world humanity deserves.
Sustainable Finance Industry Guide
This industry guide provides information about sustainable finance in the built environment in Australia. It is designed to support investor understanding of Australia’s world-class rating tools and standards, and how these can be applied to direct more capital towards sustainable finance for our built environment. Included are insights that reflect lessons learnt when using a rating scheme to establish an investment framework, conduct
due diligence or report on an issuance.
ESG integration in Equities and Fixed IncomeNawar Alsaadi
ESG Integration Case Studies, a presentation by Nawar Alsaadi of more than 30 ESG integration case studies (Equities and Fixed Income) by a host of asset managers and asset owners around the world. (The work is derived from a CFA Institute and UN-PRI paper entitled Guidance and Case Studies for ESG Integration: Equities and Fixed Income).
The dream of a sustainable energy future is closer
to reality than ever before. Declines in renewable
energy costs, new efficiency strategies, and advanced
technologies such as distributed energy resources
and storage, are giving companies around the globe
an opportunity to embrace a sustainable future
based on a low-carbon, hyper-efficient economy.
Overview of Utility Challenges and Responses to Distributed Solar EnergyScottMadden, Inc.
Utility planning is changing with the rapid growth of distributed solar in certain markets. Over the long term, market fundamentals favor the continued growth of distributed solar energy. This will access business and operational challenges for utilities. This insight outlines strategies utilities can deploy to successfully incorporate distributed solar energy into their business model or generation portfolio.
8. Общая экономика 2017. Модели накопления капитала. Основания макроэкономиче...Moscow State University
8. Общая экономика 2017. Модели накопления капитала. Основания макроэкономических моделей. Накопление и занятость/ General Economics: 8. General Economics 2017. The capital accumulation models. Grounds macroeconomic models. The accumulation and employment
Material Engagement (with suppliment included)Nawar Alsaadi
Material Engagement is the missing link between the sharp growth in ESG aligned assets, and the lack of progress on many of the pressing environmental, social and governance issues facing humanity today. The sustainability priorities of Material Engagement are grounded in human rights by virtue of its focus on the 2030 UN Sustainable Development Goals (SDGs). Furthermore, by linking the SDGs to SASB’s Materiality Map, the Material Engagement approach provides the legal, commercial, and strategic impetus for companies to make the SDGs a reality. Said another way, Material Engagement is an approach that combines the heart (SDGs) with the brain (SASB) thus birthing a new sustainable business reality, one that’s rooted in human rights, and guided by the power and genius of private enterprise. In addition to its powerful intellectual and moral foundation, Material Engagement offers a turn-key sustainability engagement solution, with relevant KPIs, scope and milestones blueprints, clear timelines, escalation pathways, and communication methods. Material Engagement is the missing link between the world we have, and the world humanity deserves.
Sustainable Finance Industry Guide
This industry guide provides information about sustainable finance in the built environment in Australia. It is designed to support investor understanding of Australia’s world-class rating tools and standards, and how these can be applied to direct more capital towards sustainable finance for our built environment. Included are insights that reflect lessons learnt when using a rating scheme to establish an investment framework, conduct
due diligence or report on an issuance.
ESG integration in Equities and Fixed IncomeNawar Alsaadi
ESG Integration Case Studies, a presentation by Nawar Alsaadi of more than 30 ESG integration case studies (Equities and Fixed Income) by a host of asset managers and asset owners around the world. (The work is derived from a CFA Institute and UN-PRI paper entitled Guidance and Case Studies for ESG Integration: Equities and Fixed Income).
The dream of a sustainable energy future is closer
to reality than ever before. Declines in renewable
energy costs, new efficiency strategies, and advanced
technologies such as distributed energy resources
and storage, are giving companies around the globe
an opportunity to embrace a sustainable future
based on a low-carbon, hyper-efficient economy.
Overview of Utility Challenges and Responses to Distributed Solar EnergyScottMadden, Inc.
Utility planning is changing with the rapid growth of distributed solar in certain markets. Over the long term, market fundamentals favor the continued growth of distributed solar energy. This will access business and operational challenges for utilities. This insight outlines strategies utilities can deploy to successfully incorporate distributed solar energy into their business model or generation portfolio.
8. Общая экономика 2017. Модели накопления капитала. Основания макроэкономиче...Moscow State University
8. Общая экономика 2017. Модели накопления капитала. Основания макроэкономических моделей. Накопление и занятость/ General Economics: 8. General Economics 2017. The capital accumulation models. Grounds macroeconomic models. The accumulation and employment
Apontamento da autoria de Pedro Falcão, na sua obra "Cascais Menino" sobre o seu projecto de reabertura da Ribeira das Vinhas, em Cascais, e reformulação da estrutura urbanística da Vila de Cascais.... Desenho do Arquitecto Rui da Palma Carlos sobre a ideia de Pedro Falcão.
3. Общая экономика, 2017: Форма стоимости. Процесс обмена (1. General Economi...Moscow State University
Форма стоимости, или Как измерить стоимость? Процесс обмена. Что такое равновесие, равновесные цены и количества, величина спроса и спрос, величина предложения и предложение. 175/5000
The form of value, or how to measure the value? Exchange/ What is the equilibrium, the equilibrium price and quantity, the quantity demanded and demand, the quantity supplied and supply.
Segundo Capítulo de mi novela "La Armadura Blanca". Tras el Envenamiento de la Profesora Puerta, Fernando Propone a Eva descubrir el misterio que les atañe a los dos.
A day in the life of a nonprofit executive directorAplos Software
During this webinar, we interviewed and discussed the joys and challenges of running a nonprofit organization. Special Guest: Mike Firpo, Ed of The First Tee of Fresno
- Tips and tricks for longevity and to avoid burnout
- Effective time management tips for small nonprofits
- Fundraising and balancing everything else
- Founder syndrome and filling big shoes.
Cooperative Traffic Control based on the Artificial Bee Colony IJERA Editor
This paper studies the traffic control problem in an isolated intersection without traffic lights and phase, because the right-of-way is distributed to each vehicle individually based on connection of the Vehicle-to-Infrastructure (V2I), and the compatible streams are dynamically combined according to the arrival vehicles in each traffic flows. The control objective in the proposed algorithm is to minimize the time delay, which is defined as the difference between the travel time in real state and that in free flow state. In order to realize this target, a cooperative control structure with a two-way communications is proposed. First of all, once the vehicle enters the communication zone, it sends its information to the intersection. Then the passing sequence is optimized in the intersection with the heuristic algorithm of the Artificial Bee Colony, based on the arrival interval of the vehicles. At last, each vehicle plans its speed profile to meet the received passing sequence by V2I. The simulation results show that each vehicle can finish the entire travel trip with a near free flow speed in the proposed method.
Sustainability Data Strategy: Top Key Components for a Positive ImpactSG Analytics
A growing number of industry leaders are identifying sustainability as a top priority for their businesses. A 2022 survey by Gartner showcased that social responsibility and environmental, social, and governance (ESG) features are finding a place on the
corporate agenda for about one in five organizations.
Apontamento da autoria de Pedro Falcão, na sua obra "Cascais Menino" sobre o seu projecto de reabertura da Ribeira das Vinhas, em Cascais, e reformulação da estrutura urbanística da Vila de Cascais.... Desenho do Arquitecto Rui da Palma Carlos sobre a ideia de Pedro Falcão.
3. Общая экономика, 2017: Форма стоимости. Процесс обмена (1. General Economi...Moscow State University
Форма стоимости, или Как измерить стоимость? Процесс обмена. Что такое равновесие, равновесные цены и количества, величина спроса и спрос, величина предложения и предложение. 175/5000
The form of value, or how to measure the value? Exchange/ What is the equilibrium, the equilibrium price and quantity, the quantity demanded and demand, the quantity supplied and supply.
Segundo Capítulo de mi novela "La Armadura Blanca". Tras el Envenamiento de la Profesora Puerta, Fernando Propone a Eva descubrir el misterio que les atañe a los dos.
A day in the life of a nonprofit executive directorAplos Software
During this webinar, we interviewed and discussed the joys and challenges of running a nonprofit organization. Special Guest: Mike Firpo, Ed of The First Tee of Fresno
- Tips and tricks for longevity and to avoid burnout
- Effective time management tips for small nonprofits
- Fundraising and balancing everything else
- Founder syndrome and filling big shoes.
Cooperative Traffic Control based on the Artificial Bee Colony IJERA Editor
This paper studies the traffic control problem in an isolated intersection without traffic lights and phase, because the right-of-way is distributed to each vehicle individually based on connection of the Vehicle-to-Infrastructure (V2I), and the compatible streams are dynamically combined according to the arrival vehicles in each traffic flows. The control objective in the proposed algorithm is to minimize the time delay, which is defined as the difference between the travel time in real state and that in free flow state. In order to realize this target, a cooperative control structure with a two-way communications is proposed. First of all, once the vehicle enters the communication zone, it sends its information to the intersection. Then the passing sequence is optimized in the intersection with the heuristic algorithm of the Artificial Bee Colony, based on the arrival interval of the vehicles. At last, each vehicle plans its speed profile to meet the received passing sequence by V2I. The simulation results show that each vehicle can finish the entire travel trip with a near free flow speed in the proposed method.
Sustainability Data Strategy: Top Key Components for a Positive ImpactSG Analytics
A growing number of industry leaders are identifying sustainability as a top priority for their businesses. A 2022 survey by Gartner showcased that social responsibility and environmental, social, and governance (ESG) features are finding a place on the
corporate agenda for about one in five organizations.
Sustainability Environmental Disclosure and Financial Performance of Oil and ...ijtsrd
This study determined whether sustainability environmental disclosure affect financial performance of oil and gas companies in Nigeria. Specific objectives include to determine the effect of pollution control disclosure and on financial performance of oil and gas companies in Nigeria evaluate the effect of recycling disclosure on financial performance of oil and gas companies in Nigeria and examine the effect of restoration disclosure on financial performance of oil and gas companies in Nigeria. Ex post facto research design was adopted for the study. The population of this study covered the nine quoted oil and gas on the Nigerian Stock Exchange. Data were collected from annual accounts of these nine quoted oil and gas and the formulated hypotheses were tested using regression analysis with aid of E view 9.0. The study found that Environmental protection disclosure has positive but not significant effect on financial performance of oil and gas companies in Nigeria Pollution control disclosure has no positive and significant effect on financial performance of oil and gas companies in Nigeria Recycling disclosure has positive but not significantly affect financial performance of oil and gas companies in Nigeria Restoration disclosure has no positive and significant effect on financial performance of oil and gas companies in Nigeria. Based on the findings, the study recommended among others that firm should reduce their spending on environmental protection or make it cost effective in other to increase firms’ return on assets. Okafor, Godson Ikechukwu | Anichebe A. S | Emeka-Nwokeji N. A | Agubata N. S "Sustainability Environmental Disclosure and Financial Performance of Oil and Gas Companies in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-2 , February 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49135.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/49135/sustainability-environmental-disclosure-and-financial-performance-of-oil-and-gas-companies-in-nigeria/okafor-godson-ikechukwu
1- Introduce your environmental issue and your purpose of analysis.docxmonicafrancis71118
1- Introduce your environmental issue and your purpose of analysis of the impacts the issue has created and what is being done to help this issue (solutions).
2- Develop a background paragraph of the issue - the history of its development, its current situation, and its size and scope.
3- Develop a paragraph for each impact this environmental issue has on the world, explaining the impact and providing evidence of this impact from sources. (3 parghs)
4- Develop an analysis paragraph for each solution that is being used or developed – explaining the solution clearly, and discussing how this will impact the problem, discussing the impact and limitations of the solution.
5- Develop a clear conclusion summarizing your analysis process and insights gleaned from your analysis.
Reporting on long-term value creation by Canadian companies: A
longitudinal assessment
Petra F.A. Dilling a, *, Peter Harris b
a School of Management, New York Institute of Technology, 701 W Georgia St., Vancouver, BC V7Y 1K8, Canada
b School of Management, New York Institute of Technology, 26West 61st Street, New York, NY, NY 10023, USA
a r t i c l e i n f o
Article history:
Received 30 August 2017
Received in revised form
21 January 2018
Accepted 27 March 2018
Available online 27 April 2018
Keywords:
Long-term value creation
Integrated reporting
Corporate social responsibility (CSR)
Canadian extractive sector
Sustainability
Stakeholders
a b s t r a c t
In the wake of the global financial crisis, a new wave of stakeholder demands has developed calling on
companies to shift focus towards long-term value creation and moving away from a short-term earnings
emphasis. Aligned with these demands, urgent calls for more transparency and improved reporting on
both financial as well as non-financial reports have been made. The objective of this study was to analyze
longitudinal disclosure quality and quantity trends in reporting on long-term value creation of 19
publicly traded Canadian energy and mining companies. Content analysis was conducted in order to
assess disclosure on long-term value creation in annual financial and sustainability reports. The empirical
results show that the companies experienced a substantial increase in the reporting disclosure quality
and quantity. This was true for both disclosure in the annual financial reports as well as in the sus-
tainability reports. These results supported the hypotheses that Canadian public energy and mining
companies had increased their quantity and quality of long-term value creation disclosure in 2014 as
compared to 2012. Even though increases in disclosure quality could be observed (especially in the areas
of governance, responsible work practices, outside relationships and risk management), overall disclo-
sure quality (especially in areas such as connectivity between financials and sustainability sections,
materiality analysis, projects with high climate risk exposure, cost of energy, responsible work practices,
ince.
Leading player in Energy and Sustainability Services
Led more than 500 sustainability service offerings( CSR, EIAs, LCAs, CDM, Environmental Finance etc.)
Sectors( Energy and Infrastructure, Mines and Metals, Manufacturing, Habitats, Forestry, Agriculture) and
Geographies (India, Srilanka, Thailand, Philippines, Indonesia, Nigeria, Kenya, Tanzania)
Clients (Governments, Multilaterals, UN, Business groups, NGOs)
Delivered more than 500 million USD benefits to clients
Operating across India, South East Asia and Africa
RESEARCH II Grade Sheet Agency Assessment Paper Part I D.docxverad6
RESEARCH II Grade Sheet
Agency Assessment Paper Part I Description of the Program
Name of Student _________________________________________________
1.An overview of the program (Heading)
2. History of the organization?
3. Mission statement in the organization
4. Organization Structure
5. History of the program within the organization
6. Program’s rationale /
definition. General purpose of the program
7..Social problems addressed by the Program (Explain in full detail with statistics) (Heading)- 1pg.
8.Intervention Methods (Heading)
9. Methods proposed to achieve the
program’s results
10. Theories that underlie the proposed
Interventions
11.Logic within the program in using these
interventions to achieve its goals
12 Describe the length of services
13.Program Funding and Cost –cost per day in hospice in New Jersey.
(Subheadings)
14. Method for Program Funding
(Public, private, state, federal, or
Local money? Public or private
Organization/) This is a private company
15.Characteristics of the staff providing services –(Heading)
16.Professional and non-professional
staff Role and credentials
(What are professional and non-
professional staff background? Are
they trained in the type of
intervention being utilized by the
program? What are the
professionals’ perspectives on
the model of intervention being
utilized?
17.What standardized method is used to
evaluate the staff performance and
client satisfaction? (Provide
SAMPLEs)
Implementation issues –(Heading)
(Subheadings)
18. Successes and Challenges in the program?
19.Do the intervention methods seem
appropriate?
20. Are people coming for services?
21.Are they the types of clients expected to come?
22.Has the amount of outreach work been underestimated and has this delayed program implementation?
Conclusion: The students demonstrate knowledge and skills by writing a summary of the evaluation process. Describe the successes and limitations of the program and the difficulties you encountered in writing this paper? What do they think needs to be changed in order to enhance this program? How would implement these changes? How does this program evaluation paper relate to social work policy, practice and research?
What Constitutes Graduate Level Writing.pdf
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NL:
ESG Routekaart.
De dwingende uitdaging waarvoor wij staan op het gebied van milieu is, om met zijn allen de beweging in gang te zetten om de gemiddelde opwarming van de aarde tot 1,5 graden te beperken. Sommige belanghebbenden, gouvernementele organisaties en banken, vragen regelmatig om verbetering en het aanscherpen van de Europese wetgeving met betrekking tot het klimaat. De EU zou tegen 2050 een totale reductie van de binnenlandse emissies van 80% moeten realiseren. Door een eenduidig stappenplan te borgen, is een concrete stap naar verduurzamen. Denk daarbij aan de interne- en externe belanghebbenden te betrekken voor de implementatie van initiatieven om CO2-emissies te verminderen, of een stap verder zou zijn, om de emissies te compenseren. De Routekaart beschrijft aan de hand van analyses, en sector specifieke KPI’s, modellen hoe dit beleid goed zou kunnen worden geborgd in een Environmental Socio-Economic Governance beleid. De Routekaart biedt op de lange termijn een kosten efficiënt pad naar een schonere, klimaatvriendelijke bedrijf.
Short biography of the presenter; Ginio Franker, September 1966, Suriname.
Position Learning and Development NLP-trainer & Transpersoonlijke coach + Climate Leader trained by Al Gore. "A Moral Call to Climate Change" + "Environmental Justice".
Website www.greandream.com.
EN:
ESG-ROADMAP
With the effects of climate change already upon us, the need to cut global greenhouse gas emissions is nothing less than urgent. It’s a daunting challenge, but the technologies and strategies to meet it exist today. A small set of ESG policies, designed and implemented well, can put us on the path to a low carbon future. ESG Key Performance Indicators are complex, so they must be sector specific, focused and cost-effective. One-size-fits-all approaches simply won’t get the job done. Sustainability managers need a clear, comprehensive resource that outlines the ESG policies that will have the biggest impact on our climate future, and describes how to implement these policies well within their own organisations.
We don’t need to wait for new technologies or strategies to create a low carbon future—and we can’t afford to. ESG-ROADMAP gives professionals the tools they need to select, design, and implement the policies that can put us on the path to a livable climate future.
The Environmental Social Governance challenges e.g: on regulatory and reputational risks, market scandals and new market opportunities makes ESG information a data source of growing importance. With ESG in company seminars, round table discussions, scholarships and online association programs, we leave no one behind. Sign up today. Zentrepreneur Environmental Social Governance Associates Training. (ZESGA).
contact@esgwatch.eu
+32485773608 BE
+31630092220 NL
1. w w w. n s a a .o rg16 | NSAA Journal | WINTER 2014
S
ince NSAA launched its Sustainable
Slopes program well over a decade ago,
the practice of sustainability in ski area
operations has become widespread
across the industry. In fact, from an
independent third party assessment
by Brendle Group—a Colorado-based
consulting firm that’s supported ski
industry sustainability for more than
a decade—more than 75 percent of
resorts now have some kind of sustain-
ability effort under their belt. And
from NSAA’s Climate Challenge to its
annual Golden Eagle Awards, it’s evi-
dent that many areas continue to push
into new frontiers of sustainability in
their operations.
There’s plenty of evidence that
individual capital projects are reaping
financial benefits for ski areas, from
lighting retrofits to efficiencies in lift
operations and snowmaking. But what
are the aggregated benefits of compre-
hensive sustainability programs to the
financial balance sheet of ski areas—
and what are the takeaway lessons for
the industry as a whole?
Until recently, nobody has asked
By DavidWortman,
SeniorProgramManager,
BrendleGroup
had significant beneficial impacts on
the cost of external financing, return
on invested capital, sales growth, and
the fade-rate of a firm’s competitive
advantage.
The global business management
consulting firm AT Kearney’s 2009
report Green Winners reflected similar
results. In 16 of 18 industry sectors
examined for the report, companies
recognized as sustainability focused
outperformed their industry peers
over a six-month period during the
2008 economic crisis and were more
protected from value erosion. What’s
more, stock prices of 99 sustainability-
oriented companies outperformed
industry averages by 15 percent over
the six-month period. The study
showed that sustainability improves
business performance in good times
and in bad.
A 2010 survey of CEOs by man-
agement consulting firm Accenture—
the most extensive corporate survey
ever conducted on the topic of sustain-
ability—found that corporate leaders
are taking such findings to heart. More
these questions, but in 2013 two long
time consultants to the ski industry
teamed up to uncover the answers.
Their findings? There’s a positive corre-
lation between sustainability and profit,
and a message of lost opportunity for
the shrinking pool of ski areas without
sustainability programs.
THE ROI OF
SUSTAINABILITY
Outside the ski industry there is long-
standing research and data pointing to
the beneficial impacts of sustainability
on company financial performance,
and business leaders have taken notice.
In 2008, the UK-based organization
Business in the Community’s report
The Value of Corporate Governance,
which presents five years of research,
found that the Dow Jones Sustainability
Index—a family of indexes evaluat-
ing the sustainability performance of
the largest 2,500 companies listed on
the Index—financially outperformed
traditional Dow Jones companies by
an average of 36.1 percent. The report
also found that sustainability strategies
ALookatSustainability’sImpactonSkiAreaFinancialPerformance
Dollars & Sense
Sustainability
The
of
2. w w w. n s a a .o rg WINTER 2014 | NSAA Journal | 17
than 93 percent of CEOs surveyed see
sustainability as crucial to business suc-
cess, while 91 percent said they would
employ new technologies and practices
to help meet their sustainability goals
over the next five years.
SUSTAINABILITY AND THE
SKI INDUSTRY
Ski areas have been practicing aspects
of sustainability in their operations for
many years, with NSAA serving in a
leadership role by providing grants,
technical resources, and recognition to
advance these efforts. From energy effi-
ciency projects to waste reduction, and
from snowmaking to fleet efficiency,
there’s little doubt that ski areas have
benefitted from such projects in terms
of cutting their bottom-line costs.
While some of the sustainability
projects that ski areas report to NSAA
through Sustainable Slopes, the Climate
Challenge, and the Golden Eagle
Awards program include data on the
costs and benefits of implementation
of such projects, there has been no sys-
tematic aggregation of this information
and analysis on the overall economic
impacts of sustainability. Research from
other industries, however, is shedding
light on how the ski industry might
credibly measure the impacts of sustain-
ability on financial performance.
That’s where two of the ski
industry’s longtime supporters—the
sustainability consulting firm Brendle
Group and market research firm RRC
Associates—saw the opportunity to
collaborate with NSAA and fill this
gap. Brendle Group has been working
with NSAA and individual ski areas on
sustainability projects and strategy for
more than a decade, offering a wealth
of information on the outcomes of
sustainability projects and programs.
RRC’s many years of experience assess-
ing the industry’s financial performance
SUSTAINABILITY AND
THE BOTTOM LINE
One of the team’s first tasks was to
organize the wide range of sustainability
projects and practices being reported by
ski areas into the departments and pro-
gram areas that RRC uses in its annual
economic analysis. From here, RRC
included a question in this year’s Eco-
nomic Analysis Survey to gather data on
how many ski areas have implemented
sustainability projects in these different
program areas. In total, 115 ski areas
responded to the question.
While RRC was collecting this
data, Brendle Group went to work
compiling first costs and annual
cost savings from actual representa-
tive projects implemented across ski
resorts. Projects were then aggregated
into program areas to show financial
impacts to various aspects of ski area
operations. Aggregation also allowed
the team to bundle together smaller
projects such as lighting upgrades—a
very common practice across the ski
industry—that in isolation would not
register on company financials.
The team organized dozens of dif-
ferent sustainability project types into
11 ski area operational program areas
(figure 1). The top six of these 11 pro-
gram areas for both cost-effectiveness
and implementation rate by ski resorts
through annual surveys provides rich
data at the income statement level.
In combination, these data sets and
perspectives could be matched up to
examine the intersection of sustainabil-
ity and financial performance.
“When I started to dig into how
studies outside the ski industry were
conducted, it dawned on me that
between Brendle Group’s sustain-
ability data and RRC’s economic
data, we could quantify whether ski
areas have as much to gain finan-
cially from sustainability as other
sectors studied,” said Brendle Group
President Judy Dorsey, who worked
with RRC’s Director of Consulting
Services Dave Belin to develop the
study. Both recognized the potential
benefits to the industry of identifying
the types of sustainability projects
that make the most financial sense—
and then examining how those ben-
efits propagate from the project level
through to the financial performance
of an entire ski area.
“NSAA has been collecting and
measuring ski industry financial per-
formance and sustainability perfor-
mance for many years,” said NSAA
President Michael Berry. “This was
the perfect opportunity to put these
two together for the benefit of all of
our members.”
• Renewable Energy Generation
• Energy Efficiency in Existing Buildings
• New Construction–Green Building
• Snowmaking Efficiency
• Utility Energy Management
• Fleets and Grooming
Figure 1. Major Ski Area Sustainability Program Types
• Food and Beverage: Green Purchas-
ing,Waste Reduction, and Recycling
• Lift Operations
• Greenhouse Gas Reporting and
Triple Bottom Line Accounting
• Sustainability Marketing and
Communications
• Human Resources
3. w w w. n s a a .o rg18 | NSAA Journal | WINTER 2014
are shown in figure 2.
While calculating the costs and
savings for direct sustainability proj-
ects such as energy or water-saving
measures is generally understood and
accepted, factoring in indirect costs and
benefits—from sustainability-oriented
marketing and messaging or human
resources, for example—required a
different approach. The team therefore
made some key assumptions, projecting
that if a ski resort implemented compre-
hensive sustainability programs across
a majority of the 11 program areas, it
could legitimately build an authentic
sustainability marketing campaign
to increase revenues. Increased total
ski area revenues were conservatively
estimated at 1 percent improvement
(compared to 10 percent measured for
other industries) with a cost estimate
of 5 percent of incremental marketing
dollars directed to sustainability in order
to achieve these top-line gains. For
human resources, the team evaluated
the impacts of sustainability on reduc-
ing employee attrition and increasing
productivity, estimating annual savings
of approximately $57,000 with no up-
front implementation costs.
ASSESSING THE BUSINESS
POTENTIAL
With a look at project-level financials
completed, the team then began to
look at sustainability performance
impacts at the scale of a whole ski area
and its income statement.
Figure 2. Ski Area Sustainability Projects, Average Costs and Savings,
Payback and Implementation Rate
Energy Efficiency—Buildings 32.1%
Comprehensive Energy-Efficiency $102,047 $26,374 3.9
Upgrades (lighting, HVAC, motors/
drives, building automation, etc.)
Snowmaking Efficiency 30.4%
Energy-Efficient Guns $549,600 $137,400 4
Utility Energy Management 37.5%
Peak Load Management, Rate $26,400 $11,350 2.3
Structures, Demand Response, etc.
Food & Beverage 50.9%
Refrigeration and Waste $70,200 $9,689 7.2
Reduction/Recycling
Sustainability Marketing & Communications 26.8%
Sustainable Branding— $49,250 $228,670 0.22
Increased Revenue
Human Resources 29.5%
Employee Retention $0 $57,278 immediate
and Productivity
TOTAL $797,497 $470,761 1.7
Program Area & Project Type
Average Annual
Dollar Savings
($/yr)
Simple
Payback (yrs)
% of resorts
implementing
in last 2 years
Average
Implementation
Cost ($)
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4. w w w. n s a a .o rg WINTER 2014 | NSAA Journal | 19
Figure 3. Willard’s Seven
Sustainability Advantage Factors
• Increaserevenue
• Reduceenergyexpenses
• Reducewasteexpenses
• Reducematerialsandwaterexpenses
• Increaseemployeeproductivity
• Reducehiringandattritionexpenses
• Reducestrategicandoperationalrisks
The Sustainability Advantage, a
book written by business sustainability
thought leader Bob Willard, served as a
cross-reference for the team’s research.
Willard’s book—reflecting his deep
dive into the financials of companies
as well as his own 34-year career as a
senior executive with IBM—shows that
if a typical company were to implement
best practice sustainability approaches
already being used by many leading-
edge companies, it could improve its
profit by 51 to 81 percent over three to
five years while avoiding a potential 16
to 36 percent erosion of profits.
Willard’s methodology includes
a model he developed to calculate the
savings a business could realize from
its sustainability initiatives over a five-
year period with a focus on seven key
factors—from reduced expenses due
to energy efficiency to reduced hiring
and attrition expenses from greater
employee retention (see figure 3). By
entering company financial data, the
model can produce estimated savings
to both a company’s bottom-line costs
and top-line revenue from implement-
ing sustainability practices.
The team adjusted Willard’s model
to more accurately reflect the ski indus-
try, both removing variables with little
relevance to the industry and lowering
default values for expected savings to
estimated savings built bottom-up from
the data compiled across the program
areas included in figure 2. The model
was then loaded with financial perfor-
mance data reported in RRC’s 2011-12
Economic Analysis of U.S. Ski Areas,
which also allowed for the team to
segment and evaluate data by region
and by ski area size.
The team also examined the
sustainability programs and activities
of all 115 ski areas participating in the
Economic Analysis and created a sus-
tainability “performance index score”
to rate the sustainability performance
of each area (figure 4). The team
scoured available information from
NSAA and web research—from energy
Each ski area was given a score of 0 to 3.5
based on its performance across eight
criteria:
• Endorsement of Sustainable Slopes
• Consistent year-to-year reporting of
performance to NSAA
• Participation in the Climate Challenge
or public reporting of greenhouse gas
emissions
• Advocacy for sustainability policy at
state or federal levels
• Sustainability in marketing/
communications
• General sustainability project
implementation
• Implementation of an on-site
renewable energy project
• Recipient of a Gold and/or Silver
Eagle Award
Figure 4.
About the Performance Index
programs and projects to fleets, food
and beverage, marketing, and human
resources—to document the perfor-
mance of more than 215 ski areas that
together represent more than 70 per-
cent of annual skier visits in the U.S.
The sustainability performance index
score was then matched to the 115
ski areas that participated in RRC’s
annual Economic Analysis survey.
“Because of the level of participa-
tion in the survey, we have a robust
data set that can be sliced and diced
on a variety of criteria—in this case,
the sustainability index score,” said
RRC’s Dave Belin.
Ski areas were grouped into
three performance levels based on
their sustainability index score.
Those with little to no active sustain-
ability program were assigned “green
circles,” those with some activity
“blue squares,” and the highest per-
formers “black diamonds” (figure 5).
From here, RRC was able to analyze
financial performance at the com-
pany income statement level.
% Profit Increase
Year Overall Northeast Southeast Midwest Rocky Pacific Pacific
Ski Industry Mountain Southwest Northwest
1 2% 4% 4% 4% 2% 4% 3%
2 4% 6% 6% 7% 3% 7% 5%
3 6% 9% 9% 9% 4% 10% 7%
4 7% 11% 11% 12% 5% 13% 9%
5 8% 12% 12% 14% 6% 15% 10%
Figure 6. Projected Profit Increase from Sustainability
Grouping Sustainability Number
Index Score of Ski Areas
Green 0–0.5 43
Circle
Blue 1–1.5 42
Square
Black 2–3.5 30
Diamond
Figure 5. Performance Levels
5. w w w. n s a a .o rg20 | NSAA Journal | WINTER 2014
In 2013 Brendle Group worked with Utah’s Alta Ski
Area to document the combined costs and benefits
of sustainability projects implemented and recom-
mended since the launch of the Alta Environmental
Center in 2008.
This included a new LEED-Silver Skier Services and
Lift Maintenance Building; a host of energy efficiency,
renewable energy, and other operational improve-
ments; organizational development projects—such as
sustainability training, and increased internal coordina-
tion among staff and department heads—and improved
external communications via web materials and a
published sustainability report. The aggregated first
costs and cost savings were then propagated through
the typical balance sheet for ski areas comparable in size
to Alta in the Rocky Mountain Region.
Results show that sustainability improvements
documented at Alta would translate to the following
improvements in financial performance for similar sized
resorts in the Rocky Mountain Region:
• 0.9% increase in operating profit margin (over
20.4% on average across ski areas of similar size
in the region)
Sustainability ROI Case in Point: Alta Ski Area
THE RESULTS
Willard’s sustainability advantage
model—adjusted to fit the ski
industry, tempered with conserva-
tive estimates of potential benefits,
and loaded with industry economic
performance data from 2011 to
2012—showed that ski areas could
realize at least a 2 percent increase
in profit in the first year after initiat-
ing a comprehensive sustainability
program, with increasing profits in
years two through five as the result
of the accumulation of sustainability
benefits (figure 6). Based on ski area
financial data broken out by region,
some regions could see greater profit
increases than that.
“Even erring on the side of being
conservative, the model clearly shows
that sustainability can pay off right
away and keep accumulating benefits
to ski areas,” said Brendle Group’s
Dorsey. “Every year of delay for non-
participating ski areas is a year more
of competitive advantage for those
with comprehensive sustainability
programs.”
When comparing the 2011-12
financial performance data to the
sustainability performance index of ski
areas (green circles, blue squares, black
diamonds), the findings are somewhat
mixed likely due to a range of other
financial factors, as well as ski area size
and geography. One trend, however,
did emerge: Overall, those ski areas
rated as “blue squares” in the sustain-
ability performance index—or those
with active sustainability but not lead-
ing-edge sustainability programs—had
the highest operating profit at 25.6
percent, followed by “black diamond”
at 21.8 percent. The areas rated as
“green circles” realized the lowest oper-
ating profit at 19 percent, compared
to an overall average across all three
levels of 23.1 percent (figure 7).
Why did the “black diamond”
sustainability performers not exceed
the “blue squares” in financial perfor-
mance? There may be several factors
at play, noted Brendle Group’s Dorsey
and RRC’s Belin. First, because the
study only included one year of
financial data, it’s possible that the
highest performers are taking on more
ambitious projects that won’t result
in near-term outcomes but could
have long-term benefits. Second,
leading-edge sustainability performers
are likely more inclined to look past
short-term financial returns when
• 0.5% improvement in profit before tax on
equity (over 4.8% on average across ski areas
of similar size in the region)
• $0.56 reduction in total expenses per skier
visit (from $50.95 on average across ski areas
of similar size in the same region)
• $0.48 increase in profit per skier visit (from
$3.36 on average across ski areas of similar
size in the same region)
To err conservatively, Brendle Group included the
cost of its consulting services in Alta’s financial
analysis and only counted direct savings. Increased
revenue from an improved brand position and cost
savings from employee retention and productivity
were not included.
“What we’ve found is that all of the little things
add up—making a dent not only in our carbon
footprint but also benefiting us financially,”said
Onno Wieringa, Alta’s general manager.
6. w w w. n s a a .o rg WINTER 2014 | NSAA Journal | 21
picking high-profile, legacy sustain-
ability projects. Third, the black dia-
mond group comprises much larger
ski areas with an average of $38.6
million in revenue and $8.4 million
in operating profit, affording them a
greater financial base from which to
invest in sustainability projects.
To explore these longer term
effects and to cross-check the Wil-
lard findings, RRC took Brendle
Group’s economic results from
figure 2 and ran them against the
balance sheet for the average overall
ski area surveyed (figure 7 “Over-
all” column) to compare pre- and
post-sustainability financial per-
formance. The results corroborate
Willard’s top-down estimates with
bottom-up industry data showing
that the ROI for sustainability when
aggregating across several program
areas is large enough to register at
the income statement level, showing
a 1.8 percent per year improvement
in operating profit after projects are
capitalized in year one. The exact
investment profile from year to year
would vary based on the mix of
sustainability projects identified and
their linkages to capital improve-
ment plans and budget cycles.
Beyond the financial results,
what’s also telling overall about the
results is that more than 75 percent
of all ski areas have some form of
sustainability program in place—a
statistic that Dorsey said doesn’t bode
well for the fewer than 25 percent of
ski areas that are sustainability lag-
gards. “These ski areas are really miss-
ing out on some simple and effective
changes that could lead to significant
financial, risk reduction, brand image,
and other rewards” said Dorsey.
LESSONS FOR THE FUTURE
While the team’s study still leaves
many questions to answer, its results
show significant promise on cor-
relating sustainability and improved
financial performance across the
industry, and helping ski areas benefit
from both. What’s needed next to
further prove out the preliminary
findings is to examine additional
years of data to uncover how sustain-
ability benefits accrue into future
years—as well as to dig deeper into
the expense side of the equation,
including energy and snowmaking
cost differences.
Dorsey and Belin will discuss the
results and potential next steps in a
workshop-style session at this year’s
Winter Trade Shows (January 21–23
at Steamboat, Colorado, and Febru-
ary 3–4 at Mount Snow, Vermont).
Look forward to further research
on the topic. And, as Dorsey noted,
ski areas should consider the bigger
financial picture when interpreting
results, particularly with the uncer-
tainty that a changing climate poses
to the industry.
“Ski areas should also consider
that it’s not just about improved
financial performance,” Dorsey said.
“It’s also about building the resiliency
to absorb shocks, manage risk, and
avoid revenue erosion in a rapidly
changing world.” n
Overall Green Blue Black
(Green, Blue, Circle Square Diamond
Black Combined)
Gross Fixed Assets $51,673 $16,719 $58,001 $92,916
Total Gross Revenue $22,940 $7,275 $27,762 $38,644
Operating Expenses $17,637 $5,891 $20,666 $30,233
Operating Profit (Loss) $5,303 $1,384 $7,096 $8,411
Depreciation $2,542 $742 $2,965 $4,531
Amortization $116 $66 $130 $169
Operating Leases $599 $167 $1,068 $562
Interest $731 $154 $704 $1,597
Profit (Loss) Before Tax $1,315 $256 $2,229 $1,553
Number of Ski Areas 115 43 42 30
Operating Profit as a % 23.1% 19% 25.6% 21.8%
of Total Gross Revenue
Profit Before Taxes as a % 5.7% 3.5% 8% 4%
of Total Gross Revenue
Figure 7. Summary of Income Statements and Operating Profit
by Ski Area Sustainability Performance Category (Units: x $1,000)
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