Ceres Global 2023 is the annual event for the Boston-based non-profit organization that collaborates with leaders in the capital markets industry to advance sustainability.
Despite the postponement of the organization’s main event in recent years due to Covid, this week’s gathering in New York City drew over 500 attendees, showcasing the strong educational, networking, policy-making, and collaborative relationships that Ceres has developed with private sector companies, investors, and NGO leaders.
Mindy Lubber, president of Ceres and a recipient of the United Nations Champions of the Earth award for her leadership in climate change and sustainability, emphasized a key theme during her opening address that resonated throughout the day’s educational sessions: “We need to protect our freedom to invest.” She reminded political leaders of the fiduciary duty that investors have to consider all material risks—including those related to environmental and social factors—when making investment decisions.
Lubber announced that more than 270 investors and companies have signed a statement from Ceres to counter recent criticisms against incorporating sustainability criteria in investment decisions. Several prominent company leaders used the Ceres platform to express their views on the significance of their firms’ environmental, social, and governance (ESG) programs and to highlight the financial growth opportunities presented by sustainability and social awareness initiatives.
The first full day of Ceres Global featured learning sessions that explored a diverse range of topics. Discussions included clean energy investments in marginalized or industrially affected communities in the U.S., strengthening partnerships with cross-border suppliers in the food industry, and the vital importance of water protection and responsible usage globally.
Seminars featured updates on recent industry and legislative developments. National leaders, including John Podesta, senior advisor to President Biden for clean energy innovation and implementation, and Ali Zaidi, national climate advisor and head of the White House Climate Policy Office, addressed initiatives and future plans from Washington. Derrick Johnson, president of the NAACP, logically argued that historically mistreated and low-wealth communities should be prioritized for new funding related to the Inflation Reduction Act.
A highlight of the afternoon was a candid fireside chat between former Vice President Al Gore and Mindy Lubber, where they discussed the current state of sustainability and climate protection efforts. Gore pointed out that wind and solar energy have become so affordable that “99 out of 100 coal-burning electrical generating plants in this country can be shut down more profitably” than keeping them operational.
Gore showcased several of his environmental and business partnership initiatives and revealed that “90% of all new electricity generating plants installed worldwide in 2022 use renewable energy.” Both he and Lubber received enthusiastic applause and standing ovations, as they celebrated the achievements of the sustainability movement over the past two decades while acknowledging the challenges that remain. With characteristic optimism, Gore concluded, “We’re gaining momentum and soon I think we’ll be gaining momentum on the crisis itself.”