University at Buffalo School of Management

10 Buffalo Business Autumn 2022 Making waves Alexandra McPherson has been working on climate change issues for more than two decades. "The science was conclusive then," says McPherson, who leverages this research, as principal of Niagara Share, to help partners improve their environmental and social footprint. "Now, we're living in an age when we're hitting projections for increased temperatures or extreme weather events at a much faster rate." McPherson and her husband, Ryan—UB's chief sustainability officer—co-teach an elective in the School of Management's Professional MBA program called "Sustainability as a Business Strategy." For their millen- nial and Gen Z students, climate change isn't just a scientific concept—it's personal. In a 2021 Pew Research survey, more than two-thirds of Americans ages 18 to 40 said reducing the effects of climate change should be the country's top priority. Younger adults are also more likely than their older counterparts to take action themselves, particularly when they open their wallets. "Over the last two years, there has been a $35 trillion wealth transfer from boomers to millennials, and that's creat- ing enormous demand for environmentally friendly prod- ucts and services," Alexandra says. Ryan adds: "Millennials and Gen Z are very concerned, and they're spending their money that way. If your whole consumer base shis, and you're not paying attention, you should prepare to become irrelevant." Millennials also represent the largest portion of the nation's workforce, with Gen Z hot on their heels. According to a 2022 survey by Deloitte, more than 36% of these workers have rejected a job or assignment because it didn't align with USED THREADS RESEARCHER: Aditya Vedantam HIS DISCOVERY: As fashion brands make more green claims, Vedantam's study is the first to quantify the profitability and environmental impact of two popular resale strategies. WHY IT MATTERS: By 2023, the second- hand apparel market will exceed $50 billion in revenue, according to ThredUp. DISASTER SHOCKS RESEARCHER: Feng ( Jack) Jiang HIS DISCOVERY: Personal experience with extreme weather affects how corporate directors perceive climate risk and, in turn, shapes the company's sustainability policy. WHY IT MATTERS: Customers are demanding action from brands—and corporate boards play a critical role in setting those policies. Studying sustainability School of Management faculty question theories and bring new perspectives to pressing challenges. Here are recent insights they've generated around eco-friendly business practices. " Millennials and Gen Z are very concerned, and they're spending their money that way. If your whole consumer base shis, and you're not paying attention, you should prepare to become irrelevant." RYAN MCPHERSON Chief Sustainabilty Officer University at Buffalo Photo: Douglas Levere

• Cover