Dan Vermeer
After seven years directing a sustainability initiative at Coca-Cola Company, Dan Vermeer has joined Duke University as executive director of the new Corporate Sustainability Initiative. In our interview, he says the financial crisis will separate the truly valuable CSR initiatives from the superficial.
Will corporate sustainability survive the financial crisis?
There’s no question that there will be a whole lot of stress on the job market in general, and nobody is going to be exempt from that. There are a few things that give me comfort. One is that a good chunk of the environmental sustainability agenda has a cost-saving benefit immediately. I think efforts around reducing energy use, water use, waste are going to have very direct benefits on the bottom line in a more efficient kind of enterprise.
This is what some business schools are saying, but is this something companies actually believe?
I think so. I would differentiate the larger national and multinational firms where I would say that it’s pretty well understood that sustainability efforts have financial and strategic value. Most companies are pursuing them, and will continue to do so. I’m pretty confident about that.
I think it is less institutionalized in smaller firms that have less exposure, access to the tools, and expertise in this area. But, in general, it’s pretty well established.
There are a lot of things that go under the umbrella of sustainability, and I think you will see some aspects of that suffer. Things that are framed more in philanthropic terms, corporate social responsibility terms, or corporate affairs terms – those things are likely to suffer because they are seen as more ornamental or the kinds of things you do in good times to buff up your image.