Ahead of the marcus evans Tax Officers Summit 2022, read here an interview with Chris Roetheli on what strategies and programs would help the tax function drive ESG impact.

1. ability to marshal these resources, and
get the attention of other participants in
order to get buy-in and sign-off to
participate in these transactions.
Any final words of advice to Tax
Officers?
Be open to hearing about new ideas,
innovating, and evolving, to find
different ways to leverage the tax
capacity and drive value throughout the
organization.
The biggest
challenge is
that these types
of investment
activities do not
fall within
anyone’s day
job, so they fall
to the bottom
of the list
The Tools for Driving ESG Impact
that Tax Officers Can Better Utilize
Interview with: Chris Roetheli,
Senior Vice President Tax Credit
Syndications, US Bank
“Tax Officers are sometimes so focused
on their day-to-day responsibilities, that
they fail to leverage their tax capacity
and participate in Federal tax code
incentive programs, that can drive a
double bottom-line benefit to their
organization while driving ESG impact,”
says Chris Roetheli, Senior Vice Presi-
dent Tax Credit Syndications, US Bank.
Roetheli is a speaker at the marcus
evans Tax Officers Summit 2022.
What ESG investments generate
Federal tax benefits?
There are four main Federal tax pro-
grams available to investors and
developers. The Low Income Housing
Tax Credit, the New Markets Tax Credit,
the Historic Tax Credit, and Renewable
Energy Tax Credits predominantly for
wind and solar project development.
All of these programs have a double
bottom-line impact. Companies can earn
a return on their investment dollars -
that is the economic bottom line
benefit - but there is community impact
benefit as well, such as job creation,
affordable housing, and CO2 emission
offsets. These are so important for the
communities we live in.
Why are tax professionals not
taking advantage of these tax
incentives? What obstacles are they
facing?
These programs are not widely used by
non-financial organizations. Banks are
the most active participants. There are
a number of reasons for that, but
ultimately, the complexity of the
programs can lead some people to stay
on the side-lines just as their day jobs
keep them quite busy. We try to
demystify that complexity and help folks
get through it in a more efficient way.
Our goal is to see a wider level of
participation amongst corporates
throughout the country, to help tax
professionals understand and learn
more about what tools are available.
What are some of the complexities?
We put together partnerships for tax
purposes, and there are a number of
legal and tax considerations that have
to be factored into these transactions.
Legal, tax and accounting complexities
all together make for fairly complex
transactions. That is why some compa-
nies do not make the most of these
tools.
How can the tax function play a
more active role, and be part of the
solution?
Tax departments are heavily involved in
these transactions, and understand
what is on and off limits. They usually
have a front seat at the table, and we
welcome tax professionals to be
champions for these ideas within their
organizations, because these opportuni-
ties do require an internal champion to
get the various stakeholders on board.
We want to see more tax professionals
playing that role.
The biggest challenge is that these
types of investment activities do not fall
within anyone’s day job, so they fall to
the bottom of the list. Tax folks are not
necessarily incentivized to think about
these types of programs, so they are
very cautious. That is one of the biggest
challenges in getting people to explore
such programs. We always try to get
the message out to more folks. It is
really about getting the attention of
various stakeholders internally. These
transactions touch on legal, tax,
accounting, treasury, and corporate
responsibility.
The CFO umbrella has broad oversight
over most of this, but it still requires an

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