ESG is one of the most significant business initiatives in the 21st century. It brings together many concepts which have been circulating over the past two decades including Corporate Social Responsibility, Compliance, Risk Management, Climate Change, Modern Slavery, Human Rights and Corporate Governance. This podcast series will explore these and other concepts in depth and consider the role of a compliance function in an corporate ESG program.
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ESG is one of the most significant business initiatives in the 21st century. It brings together many concepts which have been circulating over the past two decades including Corporate Social Responsibility, Compliance, Risk Management, Climate Change, Modern Slavery, Human Rights and Corporate Governance. This podcast series will explore these and other concepts in depth and consider the role of a compliance function in an corporate ESG program.
Harvard Business Review published author and business researcher John Katsos prides himself in his international work in conflict zones, specifically Myanmar, Ukraine, Northern Ireland, Ethiopia, and Iraq.
Witnessing the destructive effects of climate change and civil unrest, John Katsos has taken the lead in corporate responses such as ESG to make the world a better place.
▶️ ESG Reporting in Conflict Zones with John Katsos:
Key points discussed in the episode:
✔️ John Katsos describes his personal and professional background and his current projects.
✔️ John Katsos gives his insights on the issues driving migration like political turmoil and how it has escalated since civilization. He cites Syria as an example of drought acting hand-in-hand with armed conflict, compelling citizens to seek refuge in neighboring countries.
✔️Climate change is environmental destruction on a global scale. People continue to relocate to areas with employment and food, but such rapid changes take a toll on the environment.
✔️ Staying ethical in economic desperation is a real challenge for companies. Downward wage pressure happens when immigrants accept lower salaries for high-paying jobs. Some companies take advantage of the situation, even evading taxes to cut production costs and maximize profit.
CEOs have to compete with such unethical practices.
✔️ John Katsos explains the role of a corporation when complying with ethical standards in conflict zones. Do no harm, and have a clear picture as to why you’re operating there.
✔️ Ensure effective due diligence. If you can’t adequately audit workers’ conditions while doing business in conflict areas, always assume the worst. The best course of action is to withdraw and plan on shutting down your factories there.
✔️ Mass migration places people at risk of labor exploitation. John Katsos urges companies to thoroughly examine worker contracts and verify the content’s authenticity. They must ensure no one is harmed as they operate in war-torn zones.
✔️ Reporting structures are in place - from international organizations and NGOs to academic institutions - to allow companies to achieve thorough environmental reporting.
✔️ The holy grail of John Katsos’ work is gathering data about the direct impacts of conflict on business operations. It proves to be a challenge, as most information is collected from people’s first-hand accounts and the number of casualties.
✔️ John Katsos emphasizes that fighting against corruption, bribery, and abuse in conflict zones is everyone’s responsibility.
John E. Katsos is an Associate Professor of Management. John researches business operations in conflict zones. He examines specifically how businesses can mitigate political risk and enhance peace in conflict and post-conflict zones. He is also one of the top global authors for business on the website Medium. John sits on the Boards of the UNGC UAE Local Network, the UNPRME Business for Peace Working Group, and DiverseCity, a social enterprise. John has his JD and MBA from George Washington University and his BA in Religion from Haverford College.
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The ESG Compliance Podcast
ESG is one of the most significant business initiatives in the 21st century. It brings together many concepts which have been circulating over the past two decades including Corporate Social Responsibility, Compliance, Risk Management, Climate Change, Modern Slavery, Human Rights and Corporate Governance. This podcast series will explore these and other concepts in depth and consider the role of a compliance function in an corporate ESG program.
