University at Buffalo School of Management

their values. Nearly half say they've put pressure on their employer to act on climate. "If you're looking for early talent, this is a critical issue," Ryan says. "Look at Amazon—it got into climate as an issue because employees walked off the job in Seattle." Not optional Aditya Vedantam, assistant professor of operations management and strategy, has also seen this passion for sustainability from students in his "Sustainable Operations" course. "In class, I talk about how businesses have historically taken a pollution prevention approach," he says. "Companies now are thinking more and more about product stewardship. They are not just looking at their manufacturing emissions, they are looking at the entire supply chain, from their suppli- ers all the way to their end consumers." The COVID-19 pandemic exposed vulnerabilities in the world's supply chains, and the climate crisis could wreak further havoc on how and where raw materials are produced. Vedantam says companies are increasingly scrutinizing their operations and supply chains to find efficiencies, demanding certain practices from vendors and transparently reporting those metrics to customers and investors. "For a firm to succeed in the long run, it needs to ensure the viability of the natural resources it uses. Companies that don't will find themselves at a disadvantage sooner or later," Vedantam says. "There's also a profit angle here because more consumers are looking to buy Fair Trade or certified organic products, so companies that engage in sustainable develop- ment will see increased value." On the regulatory side, companies don't want to be caught flat-footed by new laws that affect their operations. In March, the SEC proposed new rules that would require companies to disclose their greenhouse gas (GHG) emissions, climate-related risks and what they're doing to reduce their carbon footprint. If these rules are enacted, companies like M&T Bank that already report these metrics will be ahead of the curve. In M&T's latest ESG report, it noted both successes (reducing direct GHG emissions by 21% since 2019) and goals (to be carbon neutral by 2035). Stephanie Tisdale, PMBA '20, is a senior vice president and strategic initiatives expert at M&T. She sees sustainability woven throughout the bank, from the Think Green employee resource group she co-founded, to the experts embedded in various departments who help others understand "when being greener can be more rewarding from a business perspective." "Sustainability is no longer optional—and you don't have to be a chief sustainability officer to make a difference," says Tisdale, who also serves as board president of the Western Autumn 2022 Buffalo Business 11 RESPONSIBLE INVESTING RESEARCHER: Cristian Tiu HIS DISCOVERY: When universities adopt responsible investing policies, endowment performance may be constrained, but donations go up, offsetting any negative performance. WHY IT MATTERS: Responsible investments do not inhibit endowment growth—and, in fact, increase a university's value by fostering more research and attracting students. PLASTIC POLLUTION RESEARCHERS: Vedantam, Nallan Suresh and Khadija Ajmal THEIR DISCOVERY: The amount of U.S. plastic going to landfill is up 23.2% since China enacted its National Sword policy in 2017. WHY IT MATTERS: Plastics pollute our waterways—but with the creation of the New York State Center for Plastic Recycling Research and Innovation, UB is poised to be part of the solution. GREEN ACCOUNTABILITY RESEARCHER: Richard Kraude HIS DISCOVERY: Vertically integrated companies tend to produce less waste than other firms—with no corresponding decrease in carbon emissions, however. WHY IT MATTERS: Sustainability is a nuanced issue, and consumers must look beyond packaging and advertising to see how a company truly impacts the environment. " Sustainability is no longer optional—and you don't have to be a chief sustainability officer to make a difference" STEPHANIE TISDALE, PMBA '20 Senior Vice President and Strategic Initiatives Expert M&T Bank Photo: Tom Wolf

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