Sustainability LIVE London – Sustainability & Responsibility

November 19, 2024

undefined mins

Sustainability leaders from Smurfit Westrock, Verizon, National Grid, Watershed and VIRTUS Data Centres discuss sustainability and responsibility

Taking part in a panel discussion on Sustainability & Responsibility at Sustainability LIVE London Global Summit industry leaders discussed how companies are integrating sustainability into core business strategies and overcoming challenges in reporting and implementation.

Panellists included:

Garrett Quinn, Group Chief Sustainability Officer at Smurfit Westrock
James Gowen, SVP of Global Supply Chain & Sourcing and Chief Sustainability Officer at Verizon
Rhian Kelly, Chief Sustainability Officer at National Grid
Ellen McCormack, Head of Europe at Watershed
David Watkins, Solutions Director at VIRTUS Data Centres

Garrett Quinn, Group Chief Sustainability Officer at Smurfit Westrock

Embedding sustainability into core strategies

The panellists open with a discussion on integrating sustainability into business operations. James Gowen describes Verizon’s approach, explaining how sustainability metrics are woven into councils and financial reporting.

“We’ve chosen to weave sustainability into our operations and embed it into the DNA of our people and processes,” he says, highlighting Verizon’s shift from ESG reports to addressing sustainability directly in its annual report.

Rhian Kelly from National Grid shares how their sustainability goals are seamlessly aligned with business operations. As an energy transmission company, sustainability is inherent in its mission.

James Gowen, SVP of Global Supply Chain & Sourcing and Chief Sustainability Officer at Verizon

“We’ve embedded targets into every business unit’s performance contracts and financial planning processes,” she notes.

This ensures that progress on emissions reductions is monitored and reported alongside financial metrics.

Garrett Quinn explains how Smurfit Westrock, a leader in packaging, ties sustainability to materiality.

“We focus on areas of real impact, such as water use and sustainable forestry,” he says. He emphasises that progress on sustainability is tied to management incentives and financing, aligning strategic goals with tangible outcomes.

Overcoming challenges in implementation

The panel also tackles the difficulties of implementing sustainability strategies. Rhian discusses the importance of identifying dependencies in climate transition plans, particularly for large-scale infrastructure projects.

“We can’t meet these targets alone; regulatory and policy support is crucial,” she emphasises.

James shares how Verizon overcame capital allocation challenges by issuing green bonds. Since 2019, Verizon has raised US$6bn through green financing to fund renewable energy projects.

“The best part is that the engineers can’t touch the money—it has to go into renewable projects,” he says, underscoring the importance of transparency and focus on sustainability investments.

David Watkins highlights the challenges of scaling sustainability in data centres, sharing how VIRTUS Data Centres adapted their cooling technology to reduce water use during heatwaves.

“Through adversity, we ended up creating a new standard in the industry,” he remarks.

Rhian Kelly, Chief Sustainability Officer at National Grid

Reporting and the evolving role of data

The conversation shifts to best practices in sustainability reporting. Ellen McCormack from Watershed emphasises the critical role of accurate and actionable data.

“You can’t reduce what you can’t measure,” she notes, pointing out that companies must focus on areas where data can drive real decision-making.

Garrett acknowledges the complexity of non-financial reporting, particularly with scope three emissions. He cautions that improving data collection can lead to shifting baselines, which might be misinterpreted.

“It’s not about being opaque; it’s about acknowledging where we are in our reporting journey,” he explains.

Ellen McCormack, Head of Europe at Watershed

The panel also discusses the importance of tailoring reports to different audiences. For example, National Grid produces detailed data tables for investors and visually engaging content for employees and customers.

“We’re moving away from standardised PDFs to digital experiences that tell our story more creatively,” Rhian says.

The session concludes with a look toward the future. The panellists agree on the need for harmonised frameworks, advanced data integration, and continued innovation to meet evolving sustainability challenges.

Garrett aptly summarises the sentiment, noting, “Sustainability reporting is an ongoing journey—it’s about progress, not perfection.”

David Watkins, Solutions Director at VIRTUS Data Centres