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Culture eats strategy for breakfast

Culture eats strategy for breakfast. What are the leadership lessons for sustainability?. Cambridge, November 16, 2012 Idar Kreutzer, CEO, Finance Norway. Agenda. Why is sustainability the most exciting business opportunity of the future? What lessons have I learned and why am I convinced?

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Culture eats strategy for breakfast

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  1. Culture eats strategy for breakfast What are the leadership lessons for sustainability? Cambridge, November 16, 2012 Idar Kreutzer, CEO, Finance Norway

  2. Agenda • Why is sustainability the most exciting business opportunity of the future? • What lessons have I learned and why am I convinced? • What are the implications and opportunities for the buildling sector? • Why and how is sustainability all about leadership and culture?

  3. Why is sustainability the most exciting business opportunity of the future?

  4. A global market in transition

  5. Business as usual is not an option Today and BAU: The world is on an unsustainable track Source: World Business Council for Sustainable Development, Vision 2050 Vision 2050: Around nine billion people live well, and within the limits of the planet

  6. Redefining strategic framework for business ”Those companies that wait to be forced into action or who see it solely in terms of reputation management or CSR, will do too little too late and may not even survive.“ PAUL POLMAN, UNILEVER Source: World Business Council for Sustainable Development, Vision 2050

  7. What lessons have I learned and why am I convinced?

  8. The journey – 17 years in sustainable investments Active ownership external management Corporate standard Strengthened climate analysis Launching Triple smart fund Storebrand Principle Funds Micro-financing SRI for Storebrand Life insurance Storebrand HedgefondBelair Storebrand/Scudder Environmental Value Fund Board decision integrated ESG Storebrand Global SRI Storebrand + SPP 1995 2009 2011 1997 1999 2001 2003 2005 2007 World Business Council for Sustainable Development The Norwegian Pension fund ethical guidelines International UN Global Compact + Global Reporting Initiative (GRI) UN Principles for Responsible Investments

  9. Financial Times and International Finance Corporation: Sustainable Asset Owner of the Year The jury's verdict: “The winner in this category is an ESG pioneer, with sustainability in its DNA. All of its assets under management are responsibly invested. They have redefined what fiduciary responsibility means. They also prove there are other areas of excellence for this country beyond downhill skiing.” Storebrand Index Emerging Markets SRI

  10. What are the implications and opportunities for the building sector?

  11. Significant need for investments Expected investment needs for urban infrastructure up until 2030 Many opportunities Technology Water Systems planning Infrastructure Buildings Finance (US$ 1000 billion)

  12. It should happen…

  13. Opportunity 1 – Combining roles • Investment: $70 mill • Payback: 7 years • Utilising all best available technologies • Integrating key stakeholders

  14. Opportunity 2 – Partnerships ”If you want to succeed, you need restrictions that make things difficult. Limitations make you think.” Powerhouse - constructing Norway’s first energy positive building

  15. Why and how is sustainability all about leadership and culture?

  16. Toolbox for integrating sustainability What is the most effectivetoolbox for my company?

  17. It is not just about the tools…

  18. …it is about leadership and culture Active disengagement Culture eats strategy for breakfast!

  19. From traditional to value based leadership Respect Formal authority Control Motivation Direction Rules Tasks Values

  20. How do you implement a successful change process? Ownership Understanding Acceptance Knowledge

  21. Leadership for sustainability Sustainability is the single biggest business opportunityofthe 21st century The most important thing I have learned since becoming CEO is context. It’s how your company fits with the world and how you respond to it. Harold Lee Scott, Jr, former CEO Wal-Mart Jeff Immelt, CEO The General Electric Company

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