Kristen Ribero, Author at Greenplaces https://greenplaces.com/author/kristengreenplaces-com/ The all-in-one sustainability platform Wed, 21 May 2025 02:52:58 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://greenplaces.com/wp-content/uploads/2024/01/cropped-GP-2024-Favicon-Lighter-1-32x32.png Kristen Ribero, Author at Greenplaces https://greenplaces.com/author/kristengreenplaces-com/ 32 32 What it takes to become a B Corp in 2025 https://greenplaces.com/articles/what-it-takes-to-become-a-b-corp-in-2025/ Thu, 15 May 2025 04:23:53 +0000 https://greenplaces.com/?p=4000 Prepare for 2025 CDP reporting with updates on the scoring methodology, key deadlines, and tips from Greenplaces sustainability experts.

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Becoming a B Corp is no small feat—but for many companies, it’s worth every step.

Today’s customers, employees, and investors want more than mission statements—they want proof. B Corp certification offers that proof. It signals to the market that your business meets rigorous standards for social and environmental performance, governance, and transparency. And in a world increasingly shaped by climate risk, supply chain pressure, and regulatory shifts, that credibility can open doors.

And there’s one major update: starting in 2025, B Corp requirements now include annual greenhouse gas (GHG) emissions reporting for all certifying companies with more than 250 employees or $75 million in revenue.

This change aligns B Corp standards with broader market expectations—and reinforces that climate transparency is no longer optional for businesses that want to lead.

Why companies choose B Corp certification (and what they get from it)

B Corp certification isn’t for everyone—but for many businesses, it fills a crucial gap: the need for external validation that you walk the talk on values like sustainability, accountability, and employee well-being.

So why do companies pursue it?

The real benefits of B Corp status

  • It signals credibility: Certification shows that your impact claims are backed by rigorous evaluation—not just marketing language.
  • It sharpens operations: The B Impact Assessment often uncovers weak points in governance, employee policies, supplier management, or environmental tracking. Many companies say the process improved how they run the business.
  • It attracts the right talent: More jobseekers want purpose-driven workplaces. A B Corp designation helps attract and retain people who care about more than just a paycheck.
  • It opens doors: From ESG-conscious investors to procurement teams scoring RFPs, B Corp certification can offer a competitive edge—especially as climate disclosures and social criteria gain traction in supply chains and investment screens.
  • It forces alignment: For growing companies, the framework helps align leadership, teams, and strategy around measurable, values-based goals.

Who’s made the switch—and why?

Some of the best-known B Corps didn’t start that way. They transitioned once they saw the value:

  • Ben & Jerry’s: Though known for activism, they formalized their stakeholder governance and impact tracking through B Corp certification in 2012.
  • Patagonia: A pioneer in sustainable business, Patagonia became a B Corp to anchor its mission legally and ensure its environmental commitments had external oversight.
  • Allbirds, Bombas, and Numi Tea: All cite the B Impact Assessment as a tool for operational improvement—not just a badge.

Is it right for your company?

If you’re a growing business with ambitious ESG goals—or if you’re already fielding RFPs that ask about DEI, climate targets, or community engagement—B Corp certification can help you turn loose initiatives into a system. It’s also a way to pressure test your readiness for future disclosure mandates, especially with new rules like California’s SB 253 or SEC climate disclosures emerging in parallel.

B Corp won’t solve all your problems. But it will force you to ask the right questions—and answer them in a way that builds long-term trust.

B Corp requirements

B Corp certification isn’t just a label—it’s a legally binding commitment to meet high standards of social and environmental performance, accountability, and transparency. To qualify, companies must:

  • Complete the B Impact Assessment and score at least 80 points
  • Incorporate stakeholder governance into their legal structure
  • Provide comprehensive disclosures on performance across governance, workers, community, environment, and customers
  • And now: measure and report their GHG emissions annually

B Lab’s updated standards reflect a wider shift toward measurable climate action. As of 2025, all companies exceeding the size thresholds must submit verified emissions data every year as a prerequisite for certification.

👉 See B Lab’s eligibility criteria

GHG emissions reporting: the new non-negotiable

Annual GHG reporting isn’t just a compliance checkbox—it’s a sign of operational maturity. The requirement aligns B Corp certification with other major disclosure frameworks like CDP, the California Climate Accountability Package (SB 253/SB 261), and SBTi.

At a minimum, companies should be prepared to:

  • Calculate and report Scope 1 and 2 emissions annually
  • Begin measuring Scope 3 emissions where feasible
  • Implement a carbon accounting system that supports year-over-year tracking

If you’re new to emissions reporting, start with our blog on Scope 1, 2, and 3 emissions. Greenplaces helps companies centralize data, create audit-ready reports, and meet assurance standards with minimal friction.

Additional B Corp requirements you should know

Beyond emissions reporting and legal accountability, B Corp certification includes:

  • Performance: A minimum of 80 points on the B Impact Assessment, which evaluates operations across governance, workers, community, environment, and customers
  • Accountability: Adopting a stakeholder-oriented legal structure (such as becoming a public benefit corporation)
  • Transparency: Publicly disclosing impact assessment scores and related data

For a practical look at how the process works, explore the B Impact Assessment tool—a free resource from B Lab to help businesses evaluate their impact and readiness.

Pro tips: avoid common pitfalls in the B Corp process

  1. Start with carbon accounting. B Lab’s emissions requirement is now foundational. Get a head start to avoid bottlenecks at the end.
  2. Engage your whole team. Certification touches everything from HR policies to procurement and legal structure.
  3. Keep good records. Every assessment answer needs documentation. Centralize your policies and reports early.
  4. Treat it as an ongoing journey. Certification lasts three years, but continuous improvement is expected.

B Corp is raising the bar—and that’s a good thing

The path to certification is more demanding than ever—and that’s exactly why it matters. With rising expectations from regulators, customers, and capital markets, voluntary frameworks like B Corp are setting the tone for what responsible business looks like in 2025 and beyond.

Done right, B Corp certification isn’t just a badge. It’s a framework that can sharpen operations, clarify purpose, and build trust with the people who matter most to your business.

Need help getting B Corp-ready or managing emissions reporting? Request a demo to see how Greenplaces simplifies the process.

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CDP’s latest 2025 updates: How these new changes impact your reporting success https://greenplaces.com/articles/cdp-latest-2025-updates-how-these-changes-impact-your-reporting-success/ Fri, 09 May 2025 15:10:37 +0000 https://greenplaces.com/?p=3967 Prepare for 2025 CDP reporting with updates on the scoring methodology, key deadlines, and tips from Greenplaces sustainability experts.

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We just completed our framework reporting mini webinar series, starting with CDP — you can see the blog recap here. CDP’s 2025 disclosure cycle emphasizes continuity—but don’t mistake that for status quo. While the structure and number of data points remain largely stable, there are strategic refinements that every company should be aware of—especially when it comes to how your performance is scored.

If your business reports environmental data through CDP—or works with clients that do—here’s what you need to know.

1. Scoring: Stability with subtle shifts

CDP will continue to score companies separately across climate change, forests, and water security in 2025. Plastics and biodiversity disclosures remain unscored, but companies are encouraged to start tracking and reporting this data in preparation for future accountability.

The scoring methodology itself is holding steady, but refinements for clarity and consistency have been introduced. That means the bar isn’t necessarily higher, but it’s becoming clearer—and easier to measure against.

Companies that receive C or higher scores should be especially alert. Many now must meet expectations for essential criteria previously reserved for top-tier responders. If you’ve been aiming for a B or A score, now’s the time to refine your disclosures and verification practices accordingly.

2. Questionnaire integration: A unified format

Following the 2024 consolidation of CDP’s climate, forests, and water questionnaires into a single integrated structure, the 2025 version retains this format. While that simplifies reporting, it also demands cross-functional coordination across teams (e.g., finance, operations, procurement) to ensure consistent, accurate responses.

Not every company is required to respond to every environmental theme:

  • All full disclosers must report on climate change, plastics, and biodiversity.
  • Forests and water are requested based on industry classification, supply chain requests, or self-assessment.

Notably, opting out of a relevant module when eligible can negatively affect your CDP score—so alignment across teams and early decision-making is key.

3. Module-level changes that matter

While most modules remain structurally consistent, several updates may affect how companies prepare and present data:

  • Module 1: Introduction
    • Currency reporting (Q1.2) is now mandatory.
    • Clearer guidance on aligning CDP reporting boundaries with financial statements.
  • Module 5: Business strategy
    • CDP now recognizes questionnaire responses as evidence of a climate transition plan, though mainstream reporting is still preferred.
    • New guidance on targets, capital expenditure, and capacity building.
  • Module 7: Climate performance
    • Improved alignment with the Integrity Council for the Voluntary Carbon Market (ICVCM).
    • Verification questions now allow multiple document uploads for ease.
  • Modules 8 & 9: Forests and water
    • Only minor guidance updates and better dropdown logic, but these still affect scoring if disclosures are incomplete or misaligned.
  • Module 12: Financial services
    • Scoring questions remain unchanged but are now more tailored to relevant portfolios with enhanced definitions (e.g., taxonomy-aligned assets, deforestation, nature-based solutions).

4. SME questionnaire: Still an on-ramp, but standards are tightening

The simplified SME questionnaire remains available for companies below the headcount and revenue thresholds (typically under $250 million in annual revenue). While the format is stable, the expectations for future readiness are rising.

If you’re currently using the SME version, consider this your signal to begin preparing for the full corporate questionnaire in the near term—especially as clients and investors demand more complete data.

What it means for businesses

For companies already engaged in environmental disclosure, the 2025 CDP updates won’t feel seismic. But they do reflect a maturing framework—one where consistency, completeness, and verification are no longer aspirational; they’re expected.

Whether you’re aiming for a better score, preparing to transition out of SME status, or just want to ensure compliance, now’s the time to review:

  • Your internal reporting boundaries
  • Third-party verification of Scope 1 and 2 (and ideally Scope 3)
  • Readiness to disclose across plastics and biodiversity, even if not yet scored

And as always, maintaining an accurate carbon inventory—and being ready to tell a coherent story with your data—remains your best defense against reputational and regulatory risk.

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Greenplaces’ comprehensive CDP reporting support

Greenplaces offers end-to-end assistance throughout the CDP reporting 2025 cycle:

Data collection and management: Our platform streamlines the gathering of emissions data, utility information, and sustainability metrics required for comprehensive CDP responses.

Module 7 integration: Direct mapping of carbon footprint data from the Greenplaces platform to CDP’s Energy and Emissions module, ensuring consistency and accuracy in environmental performance reporting.

Response development support: Expert guidance for crafting effective responses that address scoring methodology requirements while accurately reflecting your sustainability initiatives.

Gap analysis and strategy enhancement: Identification of disclosure weaknesses and strategic opportunities for program development to improve future CDP performance.

Direct submission assistance: Technical support throughout the submission process, ensuring complete and timely filing through CDP’s integrated portal.

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Sustainability’s bottom line: Real returns in an uncertain landscape https://greenplaces.com/articles/sustainabilitys-bottom-line-real-returns-in-an-uncertain-landscape/ Tue, 06 May 2025 04:32:54 +0000 https://greenplaces.com/?p=3963 Discover why corporate climate accountability and sustainability remain essential business strategies despite recent federal policy shifts.

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We’ve written about today’s shifting political and regulatory landscape; Greenplaces is more committed than ever to drive climate action and sustainability efforts with our clients and partners. But we know many are still asking questions around it making sense for your business. With the current administration rolling back federal climate legislation and funding, alongside the recent announcements of the EU delaying major sustainability reporting directives like CSRD and CSDDD, it’s a fair question. 

Our answer back: the return on investment (ROI) for sustainability has never been stronger.

Beyond regulation: Why sustainability is good business

Sustainability is often misunderstood as a nice to have, apart from business rather than a part of business. Sustainability refers to the ability to use resources in a manner that is sustainable for people and the planet in the long term. If we overconsume, pollute and emit, businesses destabilize as much as our planet does. Sustainability only works when it’s good for business and good for the planet. While regulatory pressures may ebb and flow, the fundamental business benefits of measuring, managing, and reporting your carbon emissions remain constant. There is no other component of your business that you would knowingly choose to ignore, despite it having a demonstrable impact on your core business operations and markets. Understanding the full picture of your own business’ activities within its ecosystem includes understanding its emissions.

The financial advantage

A recent KPMG analysis of 2,617 companies revealed that sustainability indicators—such as reduced CO₂ emissions and robust business ethics policies—are significantly associated with increased gross profit margins. Meanwhile, sustainability-focused companies in the S&P 500 are experiencing return on investment figures reaching up to 18% (Procurement Tactics), demonstrating that sustainability is increasingly correlated with better financial performance. Institutional investors (~56%) are still integrating environmental, social, and governance risks into their investee decision-making.

Customer and supply chain demands aren’t going away

Customer and supply chain expectations will continue to evolve. Major corporations like Microsoft are requiring their suppliers to disclose and reduce their Scope 3 emissions as part of their procurement process. For mid-market businesses in the Fortune 500 value chain, this creates both challenges and opportunities.

Meeting these demands isn’t just about keeping your customers—it’s about becoming the supplier of choice and winning new business. With a comprehensive sustainability program, you’ll be better positioned to:

  • Respond successfully to RFPs with a sustainability and climate strategy
  • Meet current enterprise customer supplier requirements 
  • Share your initiatives, policies, and certifications in one centralized location

Real cost savings

The ROI for sustainability is clear. Consider these examples demonstrating real business performance: 

  • Mars Inc. reduced its carbon footprint by 8% in 2023 compared to a 2015 baseline while expanding its business by 60% to over $50 billion annually.
  • General Mills achieved a reduction of 7% in scope 3 emissions and 12% in scope 1 and 2 emissions without relying on carbon offsets.
  • From a recent Reuters report, 74% of large companies say sustainability positively impacts revenue growth, and 95% report a positive impact on brand value from sustainability initiatives.

Starting your sustainability journey

The good news is that you don’t need to be a Fortune 500 company to implement effective sustainability measures. In fact, the 73% of global emissions that exist outside the Fortune 500 represent the biggest opportunity to positively impact the planet. By 2025, sustainable investments are projected to reach $50 trillion globally, representing more than a third of projected total global assets under management—a clear indicator that sustainability is becoming a central focus for investors worldwide.

Here’s how to get started:

  1. Understand your emissions: Begin by measuring your Scope 1, 2, and 3 emissions to identify your biggest impact areas.
  2. Identify quick wins: Look for immediate cost-saving opportunities in your operations, particularly in utilities, water, and waste.
  3. Develop a strategic approach: Create a sustainability roadmap that aligns with your business goals and responds to customer demands.
  4. Communicate your progress: Share your sustainability journey with stakeholders to build trust and meet customer requirements.

The path forward

While the regulatory landscape may be uncertain, the fundamental drivers of sustainability—cost savings, customer demands, risk mitigation, and revenue growth—remain stronger than ever. According to recent data, companies implementing sustainable supply chain practices can reduce procurement costs by 9-16% and increase supply chain efficiency by 15-30%.

Greenplaces is committed to making sustainability accessible, practical, and beneficial for businesses of all sizes. Our all-in-one platform gives you the tools and information you need to measure, manage, and communicate your sustainability efforts with confidence. Research shows that 73% of consumers would switch brands if a different brand of similar quality supported a good cause—demonstrating that sustainability builds customer loyalty and drives business success.

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Comprehensive disclosure reporting for the California Climate Accountability Package, CDP, EcoVadis, and SBTi https://greenplaces.com/articles/in-the-news/comprehensive-disclosure-reporting-for-the-california-climate-accountability-package-cdp-ecovadis-and-sbti/ Thu, 20 Mar 2025 04:35:08 +0000 https://greenplaces.com/?p=3828 Greenplaces, the all-in-one sustainability solution for mid-market businesses, today announced the launch of its comprehensive disclosure reporting offering, providing expert-guided product support for key sustainability frameworks including California's Climate Accountability Package (SB 253 and SB 261), CDP, EcoVadis, and the Science Based Targets initiative (SBTi). These expanded offerings seamlessly help businesses meet rising supplier [...]

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Greenplaces, the all-in-one sustainability solution for mid-market businesses, today announced the launch of its comprehensive disclosure reporting offering, providing expert-guided product support for key sustainability frameworks including California’s Climate Accountability Package (SB 253 and SB 261), CDP, EcoVadis, and the Science Based Targets initiative (SBTi). These expanded offerings seamlessly help businesses meet rising supplier sustainability requirements amid a surge in corporate adoption of these frameworks.

Global participation in disclosure and target-setting has soared in recent years. Companies are reporting their environmental data in record numbers, with 23,000+ companies—including listed firms representing US$67 trillion (over 66% of global market capitalization)—disclosing through CDP in 2023. This marks a 24% increase compared to 2022 alone, underscoring the urgency and momentum behind corporate environmental transparency.

The latest addition to the carbon disclosure landscape, California’s SB 253 and SB 261, collectively known as the Climate Accountability Package, are expected to impact 5,300+ companies under SB 253 and 10,000+ companies under SB 261.

Similarly, EcoVadis has rapidly expanded its reach, assessing sustainability performance across more than 150,000 companies as of 2023. This growth is driven by 1,400+ major multinationals embedding EcoVadis ratings into their procurement programs, reinforcing sustainability requirements throughout their supply chains.

SBTi has also experienced significant adoption, surpassing 10,000 engaged businesses, with 7,000+ companies now having fully validated, science-based emissions targets—an increase of more than two-thirds from approximately 4,200 at the end of 2023. These figures reflect a decisive shift as companies worldwide align their strategies with scientifically validated emissions reduction targets.

“Our expanded offering reflects our commitment to providing businesses with a truly comprehensive solution,” said Alex Lassiter, CEO & Founder of Greenplaces.

“With Greenplaces, clients can now effortlessly manage all their sustainability needs—from carbon accounting to disclosure reporting in one place. Combining Greenplaces software platform with expert-led support ensures our clients not only achieve compliance but also strategically enhance their sustainability credentials.”

Greenplaces offers a suite of comprehensive disclosure reporting services, including expert advisory and strategic support specifically tailored for California climate regulations, CDP, EcoVadis, and SBTi reporting; customized ESG reporting templates and tools designed to simplify data collection and submission; and comprehensive project planning and support to ensure accuracy, streamline processes, and improve disclosure outcomes.

This enhanced service positions Greenplaces as the preferred partner for mid-market businesses aiming to achieve compliance, fulfill stringent supplier sustainability requirements, and lead their industries in sustainability performance.

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Greenplaces welcomes former General Motors Chief Sustainability Officer Kristen Siemen to advisory board https://greenplaces.com/articles/in-the-news/greenplaces-welcomes-former-general-motors-chief-sustainability-officer-kristen-siemen-to-advisory-board/ Tue, 28 Jan 2025 18:18:14 +0000 https://greenplaces.com/?p=3781 Transforming how businesses approach sustainability requires both vision and practical expertise. While large enterprises have demonstrated what's possible, the key to achieving meaningful climate impact lies in making sustainability accessible and impactful for companies of all sizes. We're thrilled to welcome Kristen Siemen, former Vice President of Sustainable Workplaces and Chief Sustainability Officer at [...]

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Transforming how businesses approach sustainability requires both vision and practical expertise. While large enterprises have demonstrated what’s possible, the key to achieving meaningful climate impact lies in making sustainability accessible and impactful for companies of all sizes.

We’re thrilled to welcome Kristen Siemen, former Vice President of Sustainable Workplaces and Chief Sustainability Officer at General Motors, to the Greenplaces advisory board. Kristen brings over three decades of engineering and sustainability leadership experience, including architecting GM’s bold commitment to carbon neutrality across global products and operations by 2040. Under her leadership, GM has made significant strides toward this goal, including sourcing the energy needed to power 100% of their U.S. facilities with renewable energy by 2025, implementing numerous energy efficiency projects across their facilities, and surpassing their waste diversion target 2 years in a row. 

What makes Kristen’s perspective particularly valuable is her deep understanding of how to translate ambitious sustainability goals into practical operational changes. During her tenure at GM, she demonstrated that sustainability initiatives can drive both environmental impact and business success – earning recognition from JUST Capital, Fast Company, and Ethisphere. Her background in engineering and operational leadership positions her perfectly to help companies of all sizes implement practical, effective sustainability solutions.

Kristen joins our advisory board alongside Matt Elliott, former President of Bank of America Michigan and Sustainability Executive, and Noel Kinder, former Nike Chief Sustainability Officer. Together, this team brings complementary expertise across operations, finance, and supply chain sustainability to help guide Greenplaces as we work to make sustainability accessible and impactful for every business.

“Throughout my career, I’ve seen firsthand how sustainability drives innovation and creates business value,” said Siemen. “One of the most critical pieces of the sustainability puzzle for companies like GM is the supply chain. For large enterprises to reach their net-zero goals, their suppliers and vendors need to start their sustainability journeys now. I’m excited to join Greenplaces in their mission to empower businesses of all sizes with the tools and expertise they need to make meaningful environmental impact while strengthening their operations.”

With Kristen’s addition to our advisory board, we’re better positioned than ever to help companies transform sustainability from a challenge into a strategic advantage. Together, we’re building a future where every business can contribute to our collective climate goals while driving operational excellence.

Want to learn how Greenplaces can help your business start its sustainability journey?

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Why climate action will continue to move forward https://greenplaces.com/articles/why-climate-action-will-move-forward/ Thu, 23 Jan 2025 20:53:12 +0000 https://greenplaces.com/?p=3783 Written by Alex Lassiter, CEO & Founder of Greenplaces When we founded Greenplaces, we had a simple but powerful belief: sustainability done right is a win-win for business and the planet. It's not about choosing between profit and climate action – it's about recognizing that these goals can and should work together. We [...]

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Written by Alex Lassiter, CEO & Founder of Greenplaces

When we founded Greenplaces, we had a simple but powerful belief: sustainability done right is a win-win for business and the planet. It’s not about choosing between profit and climate action – it’s about recognizing that these goals can and should work together. We started this business because we wanted to create broad, sweeping change in the way business is conducted, and that mission has never been more important than it is today.

In times of shifting federal policy, I’m often asked about the future of climate action. My response is always the same: look at what’s actually happening on the ground. While political winds may shift, the momentum toward a more sustainable future continues through multiple channels, driven by practical realities and opportunities rather than political ideology.

The science and economics align

The data tells two compelling stories. First, the scientific reality: global temperatures are the highest they’ve ever been, weather patterns are becoming more extreme as evidenced by the local devastation we saw in North Carolina and the surrounding states with Hurricane Helene and now the continuing fires in Los Angeles, and the urgency for action is increasing. These aren’t political statements – they’re measurable facts that businesses deal with every day through supply chain disruptions, changing consumer demands, and evolving market conditions.

The second story is equally powerful: sustainability makes good business sense. We see it every day at Greenplaces:

  • Customers have decreased the time spent on their carbon footprint by 60% 
  • Businesses becoming more attractive to the Fortune 500 (Like Microsoft, AstraZeneca, and GM) who have net zero commitments in place 
  • Businesses building more resilient supply chains through sustainable practices

Progress continues on multiple fronts

What gives me hope is seeing how climate action continues to advance through various channels. States like California are setting ambitious goals and proving that environmental protection and economic growth can coexist; it’s never been more clear that this is critical. Large corporations are making unprecedented commitments to sustainability and demanding sustainable practices from their suppliers. But perhaps most importantly, we’re seeing a groundswell of action from businesses of all sizes.

The key to meaningful climate action lies not just with large corporations or government policies, but with the millions of small and medium-sized businesses that form the backbone of our economy. This is where I believe the real transformation will happen.

Moving climate action forward together

The path to addressing climate change has never depended solely on any single policy or agreement. It’s being paved every day by businesses making smart, forward-thinking decisions about their operations and impact. Whether it’s implementing energy-efficient practices, transitioning to renewable energy, or engaging suppliers in emissions reduction efforts, every organization can leverage sustainability to strengthen their bottom line.

At Greenplaces, our commitment to making sustainability accessible and beneficial for all businesses remains unwavering. We believe that the only way to achieve our collective climate goals is by involving every business, making sustainability practical and profitable for all.

The challenges we face are real, but so are the opportunities. While federal policies may shift, the fundamental equation doesn’t change: what’s good for the planet can and should be good for business. That’s the future we’re building at Greenplaces, and we invite you to join us in this crucial work.

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Former Bank of America sustainability executive Matt Elliott joins Greenplaces Advisory Board https://greenplaces.com/articles/in-the-news/former-bank-of-america-sustainability-executive-matt-elliott-joins-greenplaces-advisory-board/ Wed, 13 Nov 2024 19:25:12 +0000 https://greenplaces.com/?p=3708 Achieving global sustainability goals requires the participation of every business—not just the Fortune 500. While large enterprises have made significant strides in sustainability, the next frontier lies in empowering the broader market to take action. Greenplaces welcomes Matt Elliott, former President of Bank of America Michigan and Sustainability Executive for Business Banking and Global [...]

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Achieving global sustainability goals requires the participation of every business—not just the Fortune 500. While large enterprises have made significant strides in sustainability, the next frontier lies in empowering the broader market to take action.

Greenplaces welcomes Matt Elliott, former President of Bank of America Michigan and Sustainability Executive for Business Banking and Global Commercial Banking, to our Advisory Board. Matt brings over three decades of banking and corporate finance experience, including transforming how middle-market businesses approach sustainability and access sustainable finance.

During his tenure at Bank of America, Matt led the largest sustainability activation of middle-market businesses in North America. His unique perspective on making sustainability both accessible and profitable for growing businesses aligns perfectly with our mission at Greenplaces.

Matt joins our advisory board alongside Noel Kinder, former Nike Chief Sustainability Officer, as we build a team of industry leaders committed to reshaping how businesses approach sustainability. Together, they will help guide the conversation around supplier sustainability requirements and drive the adoption of sustainable practices across the entire business ecosystem.

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California’s climate laws: Navigating the new business landscape (part 2) https://greenplaces.com/articles/californias-climate-laws-navigating-the-new-business-landscape-part-2/ Wed, 02 Oct 2024 18:44:19 +0000 https://greenplaces.com/?p=3615 In part one of our series, I explored how California climate laws are setting the standard for climate action and the potential ripple effects across the nation. Now, I’ll dive into the practical implications for businesses and how they can not only comply with these new regulations but also thrive in this evolving landscape. [...]

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In part one of our series, I explored how California climate laws are setting the standard for climate action and the potential ripple effects across the nation. Now, I’ll dive into the practical implications for businesses and how they can not only comply with these new regulations but also thrive in this evolving landscape.

jonathan storper headshot

The compliance challenge: What businesses need to know

The most significant challenges businesses face when ensuring compliance with current carbon emission reporting requirements are multifaceted. First and foremost, it requires internal leadership to recognize the importance of understanding the issue internally and to consumers, as well as being a good corporate citizen.

Secondly, businesses face the challenge of understanding, measuring, and analyzing the externalities that can affect their operations and shareholder value. This involves putting policies and procedures in place, using relevant expertise to measure and report on carbon emissions (Scope 1, 2, or 3) and assessing climate change risks to the business.

Finally, businesses must be able to bear the cost of this additional work and reporting regime. However, it’s important to view these challenges not just as hurdles, but as opportunities for innovation and leadership in your industry.

Proactive measures: Preparing for future regulations

To best prepare for potential future changes in climate regulation, businesses should take several proactive measures:

  1. Integrate climate risk management into overall governance: Designate board members or senior management to be accountable for assessing and managing climate-related risks.
  2. Conduct thorough risk assessments: Evaluate the potential impact of climate change on operations and assets, including analyzing project locations for weather-related risks.
  3. Develop robust climate-related financial risk disclosures: This will help in meeting current and future reporting requirements.
  4. Monitor weather patterns and stay informed of regulatory changes: This allows businesses to adjust their strategies and insurance coverage as necessary.
  5. Conduct climate change-related due diligence in mergers and acquisitions: This helps in properly assessing and valuing assets, ensuring compliance, and mitigating risks associated with climate change.

Legal implications on CA climate laws and beyond

The new climate change disclosure rules have significant legal implications for businesses, primarily revolving around the need for enhanced transparency and the potential for increased regulatory scrutiny. Failure to provide accurate and comprehensive disclosures could result in legal challenges, penalties, or damage to the company’s reputation.

It’s important to note that there are significant disparities between California and federal disclosure requirements. For instance, while the SEC rules have exemptions for smaller companies and only require disclosure of Scope 1 and 2 emissions if “material,” California climate laws make no such exclusions.

To navigate these complexities, businesses should consider forming internal working groups to analyze the potential requirements, assess the materiality of climate-related risks, and plan for disclosures. It’s also crucial to inventory prior statements regarding climate-related risks and reconcile these with the new disclosure requirements.

Leveraging legal guidance for robust sustainability practices

Businesses can leverage legal guidance to develop robust internal policies and ensure they have the necessary documentation to support their sustainability claims. Here are some key steps:

  1. Familiarize yourself with relevant guidelines and principles: This provides a framework for making legitimate environmental and sustainability claims.
  2. Draft comprehensive internal policies: Articulate your commitment to ESG (Environmental, Social, and Governance) issues, integrating ESG considerations at various levels of the organization.
  3. Maintain thorough documentation: Keep accurate records of all relevant activities, assessments, and reports to support your sustainability claims.
  4. Engage in regular training and education: Ensure employees are well-versed in internal policies and external regulations.

Building trust through transparent communication

Accurate disclosures play a crucial role in building trust and credibility with stakeholders. Companies often involve their Board of Directors in sustainability policies and link executive compensation to sustainability objectives. They engage deeply with stakeholders, maintain a long-term perspective, and emphasize nonfinancial measures regarding employees and environmental standards for suppliers.

Transparent communication helps stakeholders trust the company’s environmental claims and supports the firm’s legitimacy in the eyes of society. This involves presenting specific descriptions of goals and activities and providing detailed accounts of resources allocated to sustainability efforts.

The competitive advantage of sustainability

While compliance with climate regulations may seem daunting, it’s important to recognize the competitive advantages that come with embracing sustainability. Companies that proactively address climate risks and opportunities often find themselves better positioned in the market, more resilient to future changes, and more attractive to both consumers and investors.

By viewing these regulations not as obstacles but as catalysts for innovation and improvement, businesses can turn compliance into a strategic asset. This approach not only helps in meeting regulatory requirements but also in driving long-term value creation and sustainability.

Conclusion: Embracing the future of business

California’s climate laws are ushering in a new era of business—one where sustainability is not just a buzzword, but a fundamental aspect of operations and strategy. While the path to compliance may have its challenges, it also presents unprecedented opportunities for innovation, leadership, and positive impact.

As we navigate this new landscape together, remember that you’re not alone. Legal experts, sustainability consultants, and organizations like Hanson Bridgett LLP and Greenplaces are here to support your journey towards a more sustainable and resilient business model.

If you want to get in touch with Jonathan directly, reach out here: jstorper@hansonbridgett.com or (415) 995-5040.

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CDP reporting: Key updates and best practices for 2024 https://greenplaces.com/articles/cdp-reporting-updates-best-practices-2024/ Thu, 19 Sep 2024 19:53:45 +0000 https://greenplaces.com/?p=3561 In our latest webinar, our own VP of Sustainability Corinne Hanson and our partner Andrew ‘Riz’ Rizkallah from MorganFranklin shared insights on the latest changes to CDP reporting and best practices for companies navigating this evolving landscape. As CDP continues to be a crucial framework for environmental disclosure, understanding these updates is essential for [...]

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In our latest webinar, our own VP of Sustainability Corinne Hanson and our partner Andrew ‘Riz’ Rizkallah from MorganFranklin shared insights on the latest changes to CDP reporting and best practices for companies navigating this evolving landscape. As CDP continues to be a crucial framework for environmental disclosure, understanding these updates is essential for businesses. We recognize it can be a complex reporting framework, so we’re breaking it down for you. 

The evolution of CDP reporting

CDP, formerly known as the Carbon Disclosure Project, has grown exponentially since its inception in 2002. As of 2022, companies representing half of the global market cap disclosed through CDP, with about 24,000 organizations participating in 2023.

So what’s changed? The most significant change for 2024 is the introduction of a new, integrated questionnaire. This overhaul combines previously separate questionnaires for climate, water, forests, and plastics into a single, comprehensive format. The new structure aims to reduce redundancy and provide a more holistic view of a company’s environmental impact.

Key updates include:

  1. Enhanced visibility and transparency in emissions reporting
  2. More detailed breakdowns for Scope 1 and 2 emissions
  3. Improved alignment with 1.5°C targets and transition planning
  4. Expanded questions on carbon credits and offsetting
  5. A modernized portal with real-time collaboration features

Navigating the new CDP landscape

For companies new to CDP reporting or adapting to the latest changes, here are some key considerations:

Understanding your company’s position

When starting your CDP reporting journey, it’s crucial to articulate your business operations, strategy, and where you fit in the broader sustainability landscape. Be honest about your current state – it’s okay if climate-related risks haven’t yet impacted your strategy or financial decisions. The goal is to use the CDP framework as a roadmap for future improvements.

Data collection and methodology

The new CDP questionnaire requires more detailed information about data collection methods and methodologies. Companies should be prepared to:

  • Provide breakdowns of emissions by geography, facility, and customer
  • Explain assumptions and calculation steps for each emissions category
  • Specify details such as whether high or low heating values were used for fuel consumption
  • While this level of detail may seem daunting, it’s designed to improve the quality and comparability of reported data. And don’t worry, Greenplaces can help you like we’ve done with hundreds of customers.
Addressing new areas of focus

CDP has expanded its focus beyond carbon emissions to include more comprehensive environmental impacts. Companies should be prepared to address:

  • Water security, even for office-based businesses
  • Biodiversity impacts
  • Circular economy initiatives
  • More detailed questions on carbon credits and offsetting strategies

For areas that may not seem immediately relevant to your business, it’s important to consider potential indirect impacts through your supply chain or end-user products.

Best practices for successful CDP reporting

  1. Start early and plan ahead: Begin your CDP reporting process well in advance of the submission deadline. Use the questionnaire as a guide to identify data gaps and collect information throughout the year. This year’s scoring deadline is October 2, so many of you may still be working to submit. You’re in good company! 
  2. Leverage existing resources: Utilize CDP’s guidance tools and external resources. The CDP portal provides helpful tooltips and links to supplementary guidance for many questions.
  3. Avoid leaving questions unanswered: If you don’t have certain data or haven’t implemented specific processes, answer anyway. Explain your current situation and plans for improvement. CDP values transparency and progress over perfection.
  4. Think holistically: Consider how environmental factors interconnect with your business strategy, risk management, and financial planning. This holistic approach will not only improve your CDP score but also drive meaningful sustainability improvements.
  5. Stay informed on regulatory changes: Keep abreast of evolving regulations, such as the SEC’s proposed climate disclosure rules or California’s climate-related reporting requirements. CDP is likely to align with these developments, so anticipating changes can help you stay ahead.
  6. Continuous improvement: Use your CDP report as a tool for continuous improvement. Identify areas where you scored lower or couldn’t provide data, and create action plans to address these gaps for future reporting cycles.

By embracing these best practices and staying informed about the latest CDP reporting requirements, companies can not only improve their disclosure scores but also drive meaningful sustainability improvements within their organizations. As the business world continues to recognize the importance of environmental stewardship, robust CDP reporting will become an increasingly valuable tool for demonstrating leadership and commitment to a sustainable future.

Remember, the journey towards comprehensive sustainability reporting is ongoing. Each reporting cycle is an opportunity to refine your processes, gather more accurate data, and deepen your understanding of your company’s environmental impact. By doing so, you’ll be better positioned to make informed decisions that benefit both your business and the planet.

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Greenplaces empowers 15% of AmLaw 100 firms to navigate the new era of sustainability and emissions reporting https://greenplaces.com/articles/in-the-news/greenplaces-empowers-law-customers-to-navigate-new-era-of-sustainability/ Tue, 17 Sep 2024 15:39:19 +0000 https://greenplaces.com/?p=3511 RALEIGH, N.C., Sept. 17, 2024 /PRNewswire/ -- As sustainability becomes a strategic imperative, Greenplaces—the all-in-one sustainability solution for mid-market businesses—has established itself as the go-to solution for law firms navigating the complex landscape of carbon reporting and emissions reductions. With fifteen percent of the AmLaw 100 firms now relying on Greenplaces, the company has [...]

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RALEIGH, N.C., Sept. 17, 2024 /PRNewswire/ — As sustainability becomes a strategic imperative, Greenplaces—the all-in-one sustainability solution for mid-market businesses—has established itself as the go-to solution for law firms navigating the complex landscape of carbon reporting and emissions reductions. With fifteen percent of the AmLaw 100 firms now relying on Greenplaces, the company has solidified its position as the undisputed leader in legal sector sustainability solutions.

The urgency for law firms and other professional services to accurately calculate and report their carbon emissions has intensified, driven by their position in the supply chains of Fortune 500 giants. Companies like Microsoft, Amazon, and AstraZeneca are increasingly demanding comprehensive emissions data from their suppliers, including legal partners, as part of their own sustainability commitments and reporting requirements.

In this era where sustainability and core business strategies are increasingly intertwined, Greenplaces’ unique combination of technology, tools, and expert guidance is proving indispensable to law firms. By simplifying the intricacies of sustainability reporting and reduction, Greenplaces enables firms to confidently showcase their green credentials, meet escalating client demands, and secure vital capital for executing their sustainability strategies.

“At Greenplaces, we recognize that law firms face unique challenges and opportunities in the sustainability landscape. Our clients need partners that understand their specific business needs, not generic offerings,” said Alex Lassiter, CEO & Founder of Greenplaces.

alex lassiter

“Our platform is tailored to address these needs, acknowledging that most firms don’t own buildings or manufacture products. Greenplaces goes beyond basic carbon accounting to empower firms to measure and report their emissions accurately, while providing industry-specific support through peer benchmarking, roundtables, and closed-door events. This approach ensures law firms can navigate their sustainability journey with insights and tools truly relevant to their sector.”

Greenplaces’ expertise is particularly valuable as law firms prepare for landmark regulations like the SEC’s upcoming climate disclosure rules and California’s SB 253 and 261.

Goodwin, an AmLaw top 20 firm and Greenplaces customer, attests to the impact of this partnership. “Greenplaces is a true sustainability partner,” said Ami Morgan, Goodwin’s Director for Environmental Social and Governance. “Its platform and expertise empower us to meet client needs, stay ahead of market trends, and take significant steps toward becoming a more sustainable firm.”

As the demand for robust sustainability solutions in the legal sector continues to surge, Greenplaces stands ready to support firms with its comprehensive platform and unmatched expertise. By partnering with Greenplaces, law firms can not only accurately measure and report their own emissions but also position themselves as trailblazers in the new era of ESG, offering cutting-edge sustainability services to their clients and meeting the exacting standards of global corporations.

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