EMEA Recruitment Podcast #168 - The Role of Finance in Developing Sustainable Business Strategy – Oriane Minger & Dr. Ilidio Silva

The EMEA Recruitment podcast is proud to present a limited series in collaboration with Geneva Business School. Conversations with Finance Leaders will bring you the tangible experiences of specialist professionals with the expertise of the Business School's leading academics. 

In the inaugural episode, Director John Bower welcomes Oriane Minger, Carbon Finance Manager at SCB Group, and Dr. Ilidio Silva, Professor of Finance Accounting and Sustainability at Geneva Business School, to discuss the role of Finance in developing sustainable business strategy. 

Please note: This conversation was recorded at the Geneva campus, which may cause some background noise and variations in sound quality. 

To begin, Oriane introduces SCB Group, an international B Corp company headquartered in Switzerland, which is guided by one mission: to build and promote a low-carbon future. She details the company's evolution, carbon initiatives, achievements, and her advisory role within the business, involving daily discussions on a range of Environmental, Social, and Governance (ESG) topics.

Dr. Silva reflects on the role of CFOs, referencing Deloitte's article, The CFO as the Driver of Sustainability, which argues that CFOs act as catalysts, stewards and operators for promoting sustainability. They possess the necessary toolkit to align ESG goals with the company's profitability, supported by strong organizational networks and in-depth expertise in data, processes and reporting, he explains. 

Oriane suggests starting with greenhouse gas (GHG) accounting, a methodology structured in three scopes. By combining Scope 1, which covers emissions from sources owned or controlled by a company (e.g. offices and company vehicles), and Scope 2, indirect emissions from purchased energy (e.g. electricity for the office and company vehicles), you can obtain a clear picture of what you can control and prioritize actions more easily. 

Scope 3 is more challenging, as it requires data and an assessment of the company's entire value chain. Oriane recommends collaborating with a partner, as GHG accounting is very broad. She advises assessing your current data accessibility and working closely with your CFO and Accounting teams. Focus on prioritization, bring the right people to the table, and seek support where needed, she says. 

The conversation shifts to carbon credits. A carbon credit represents a verified emission reduction - one ton of CO2 equivalent that has been avoided, reused or removed from the atmosphere. Oriane cites SCB's community projects in Nepal as an example of reducing and avoiding emissions. 

SCB Group identifies carbon credits by conducting due diligence on client projects. They work with reputable registries, ensuring projects are thoroughly tracked and results are publicly available. SCB also partners with trusted project developers and methodologies. 

In general, regulations are affecting an increasing number of organizations. Dr. Silva reiterates that now is the time for companies to embrace sustainability, provide training, and hire professionals with sustainability competencies. 

LinkedIn's 2023 global skills report stated that one in eight workers had green skills. However, in Finance, only one in 15 had green skills, showing room for improvement. Additionally, the fastest growing skills in the EU included climate action planning (increasing by 152%), carbon emission accounting (by 131%), and carbon accounting (by 130%). 

To end the conversation, Oriane discusses her career journey in further detail. Originally, Oriane worked in Finance for seven years, before transitioning to sustainability out of interest and the demand for skills in the area. She then offers examples of similar methodologies and transferable skills between the functions. Upon entering the sector, stay curious, gather the skills, and bring the conversation to your company, she adds.

The episode then enters a live Q&A session. 

The first question was addressed by Oriane