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Culture eats strategy for breakfast. What are the leadership lessons for sustainability?. Cambridge, November 16, 2012 Idar Kreutzer, CEO, Finance Norway. Agenda. Why is sustainability the most exciting business opportunity of the future? What lessons have I learned and why am I convinced?

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Culture eats strategy for breakfast

Culture eats strategy for breakfast

What are the leadership lessons for sustainability?

Cambridge, November 16, 2012

Idar Kreutzer, CEO, Finance Norway


Agenda
Agenda

  • Why is sustainability the most exciting business opportunity of the future?

  • What lessons have I learned and why am I convinced?

  • What are the implications and opportunities for the buildling sector?

  • Why and how is sustainability all about leadership and culture?




Business as usual is not an option
Business as usual is not an option of the future?

Today and BAU: The world is on an unsustainable track

Source: World Business Council for Sustainable Development, Vision 2050

Vision 2050: Around nine billion people live well, and within the limits of the planet


Redefining strategic framework for business
Redefining strategic framework for business of the future?

”Those companies that wait to be forced into action or who see it solely in terms of reputation management or CSR, will do too little too late and may not even survive.“

PAUL POLMAN, UNILEVER

Source: World Business Council for Sustainable Development, Vision 2050



The journey 17 years in sustainable investments
The journey – 17 years in sustainable investments of the future?

Active ownership external management

Corporate standard

Strengthened climate analysis

Launching Triple smart fund

Storebrand Principle Funds

Micro-financing

SRI for Storebrand Life insurance

Storebrand

HedgefondBelair

Storebrand/Scudder Environmental Value Fund

Board decision integrated ESG

Storebrand Global SRI

Storebrand + SPP

1995

2009

2011

1997

1999

2001

2003

2005

2007

World Business Council for Sustainable Development

The Norwegian Pension fund ethical guidelines

International

UN Global Compact + Global Reporting Initiative (GRI)

UN Principles for Responsible Investments


Financial times and international finance corporation sustainable asset owner of the year
Financial Times and International Finance Corporation: of the future? Sustainable Asset Owner of the Year

The jury's verdict: “The winner in this category is an ESG pioneer, with sustainability in its DNA. All of its assets under management are responsibly invested. They have redefined what fiduciary responsibility means. They also prove there are other areas of excellence for this country beyond downhill skiing.”

Storebrand Index Emerging Markets SRI



Significant need for investments
Significant need for investments sector?

Expected investment needs for urban infrastructure up until 2030

Many opportunities

Technology

Water

Systems planning

Infrastructure

Buildings

Finance

(US$ 1000 billion)



Opportunity 1 combining roles
Opportunity 1 – Combining roles sector?

  • Investment: $70 mill

  • Payback: 7 years

  • Utilising all best available technologies

  • Integrating key stakeholders


Opportunity 2 partnerships
Opportunity 2 – Partnerships sector?

”If you want to succeed, you need restrictions that make things difficult. Limitations make you think.”

Powerhouse - constructing Norway’s first energy positive building



Toolbox for integrating sustainability
Toolbox for integrating sustainability culture?

What is the most effectivetoolbox for my company?



It is about leadership and culture
…it is about leadership and culture culture?

Active disengagement

Culture eats strategy for breakfast!


From traditional to value based leadership
From traditional to value based leadership culture?

Respect

Formal authority

Control

Motivation

Direction

Rules

Tasks

Values


How do you implement a successful change process
How do you implement a successful change process? culture?

Ownership

Understanding

Acceptance

Knowledge


Leadership for sustainability
Leadership for sustainability culture?

Sustainability is the single biggest business opportunityofthe 21st century

The most important thing I have learned since becoming CEO is context. It’s how your company fits with the world and how you respond to it.

Harold Lee Scott, Jr, former CEO Wal-Mart

Jeff Immelt, CEO The General Electric Company