The Business Challenges Of A Warming World: Kellogg Hosts 3rd ClimateCAP Summit

The discussion “Climate as Strategy” with speakers Andrew Fletcher, Bruno Sarda, Suzanne Long and moderator Meghan Busse during the 2022 ClimateCAP Summit at Northwestern University Kellogg School of Management on February 26th

‘YOU CAN’T APPROACH CLIMATE CHANGE AS AN ISOLATED THING’

The event emphasized the role of business in addressing climate change concerns – and how over the next decade, sustainability and climate change will be inseparable from business.

The speakers touched on the fact that sustainability and climate change strategies aren’t strategies on their own; they have to be embedded into business strategy as a whole. “You can’t approach climate change as an isolated thing,” says Weber. “It’s interwoven with environmental justice, social inequities, and the effects of climate change on different people and communities.”

“It’s no longer a siloed problem,” Meghan Busse says. “Sustainability is something that everybody who works in leadership has to be functionally literate in.”

Busse says that while public policy is often seen as the chief tool to address climate change, companies have a huge role to play. “Even though public policy will provide motivation for change, how companies respond will be a big lever,” says Busse. “The decisions that individual people and leaders make in companies are going to impact our climate’s outcome.”

RELIEF & HOPE

Brian Jeng

Weber says that following the event, much of the feedback from students included feelings of relief. “There’s finally a sense that climate change is being taken seriously and that solving these issues will be a part of students’ professional life, not just something they care about as a citizen,” he explains.

Kellogg MBA student Brian Jeng says that no one at the conference was there to pay lip-service, which he feels is common at climate change events. “Everyone there was committed to the cause and realizes that it takes much more than just any one of us to help lead the transition.”

ClimateCAP also produced feelings of hope, according to Kross. While climate change poses some serious risks for businesses, it also opens the door for new opportunities. “Entrepreneurs can help lead the transition to a decarbonized energy system, electric mobility solutions, and identify regenerative agriculture and carbon removal strategies,” says Kross.

“There’s money to be lost, but there’s a lot of money to be made.”

ADVICE FOR STUDENTS TACKLING CLIMATE CHANGE IN CAREERS

Now, no matter what area of a business a student wants to work in – whether that’s finance, strategy, marketing, or operations – sustainability is and will continue to be blended into every function. “Sustainability is no longer something you have to try to get people to pay attention to,” explains Busse. “MBA students can look forward to their careers being something that’s blended with whatever function they’re interested in.”

For those seeking a business career in helping to combat climate change, Kross recommends that MBA students apply their skills anywhere they feel that they can make a meaningful difference to solve the climate crisis. “We’re going to need financiers, entrepreneurs, engineers, scientists, and policymakers. We’re going to need to rethink supply chains. We’re going to need to market clean energy and climate tech solutions. My advice is for students to hone in on the aspect of the issue that they’re really passionate about and find a place where their skill set can make a meaningful difference.”

Busse explains that it’s up to this upcoming generation to figure out how to actually do the things that need to be done to save the planet. “Climate change is already happening,” says Busse.

“If students want to become a leader in a company, their only choice is to decide if their company will be reactive or proactive.”