The vet was not Kahane’s first unlikely fan. The director of Reos Partners, a global consultancy on systems change and conflict resolution, has also found quite a following among divorce lawyers. It doesn’t surprise him. “Really, all my work follows the same theme,” he says on a call from Cape Town, his home away from his native Montreal. “How can people who don’t like each other work together to change systems?” 

It’s no wonder, in these polarized times, that people are interested in what Kahane has to say. He’s a sought-after speaker and consultant and the author of six books. His journey into the field of multi-stakeholder collaboration began in South Africa in 1991, when he was invited to facilitate a series of workshops on the future of the post-apartheid state.

A physicist by training, Kahane was working for Royal Dutch Shell at the time, in the area of “scenario planning” – anticipating the impact that social, political and economic developments might have on the company – and the new South African state was interested in using Shell’s scenario method to chart its possible future.

Transforming a complex system requires learning through doing, not just thinking and then doing.

– Adam Kahane, expert on system change

What intrigued Kahane about the discussions, which took place at the Mont Fleur conference centre in the lush hills outside of Cape Town, was how the diverse voices around the table, which represented every position on South Africa’s political spectrum, worked to find common ground and goals; left-leaning academics, traditional white conservatives and radical proponents of armed struggle had to find a way to talk and listen to each other. 

The process was fruitful, and it taught Kahane that scenario planning was not just about adapting to, but also shaping, the future. Describing this revelation as a “hinge” in his life, Kahane went on to study applied behavioural science and ultimately, in 2007, to co-found Reos Partners.

An adapted excerpt of his latest book, Everyday Habits for Transforming Systems: The Catalytic Power of Radical Engagement, follows.

– Naomi Buck

The art and practice of system change

A few years ago, after thirty-five years’ work working alongside leading changemakers around the world, I started to ask a fundamental question: How can each of us contribute to transforming the systems we are part of? 

The answer I eventually arrived at is crystallized in the notion of “radical engagement.” 

To engage radically in pursuit of systemic change, some common mindsets must first be set aside. Transformation can’t be achieved distractedly, superficially or impatiently. It isn’t possible at arm’s length, nor with arms crossed. We can’t just assert ourselves, saying take it or leave it. 

Rather, seeking transformational change means bringing hope, curiosity and authenticity to the situation. We have to lean forward, reach out and dig deep. It takes focus and persistence, and above all, reciprocity.

Here are seven everyday habits to become more effective change-agents in the systems of which we are part

Habit 1: Act responsibly. 

A system produces familiar results because the people who are part of it continue to play their familiar roles. Radical engagement starts with acknowledging where we are: accepting and taking responsibility for our roles – not just doing what is expected of us or whatever we like. We start contributing to real solutions by becoming aware of how we are part of the problem, and acting accordingly. 

Habit 2: Relate in three dimensions. 

Transforming a system requires attending to the way it functions in three complementary ways: the whole, the individual parts, and the relationships between the parts. Radical engagement entails relating with other people in three corresponding dimensions – as actors playing roles in the system, as parties with our own interests, and as entangled kin – not just in the one or two ways we’re most comfortable with. We do this by connecting with others, and ourselves, as fully rounded, three-dimensional beings. 

Habit 3: Look for what’s unseen.

A system cannot be fully grasped from any single perspective or position. Radical engagement involves seeing more of what’s happening by looking from multiple perspectives – not just from those we’re accustomed to and comfortable with. We sense more by stretching to seek out and learn with people located at other positions in the system. 

Habit 4: Work with cracks.

Systems are structured to keep producing their usual behaviours and results, and therefore often seem solid and unchangeable – but they are not. They are built, and they collapse. They crack and are cracked, which opens up new possibilities that some people find frightening and others find hopeful. Radical engagement involves looking for these cracks and then moving toward and working with them, not ignoring or shying away from them. We do this by seeking out and working with openings alongside others who are doing the same. 

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Habit 5: Experiment a way forward.

Transforming a complex system requires learning through doing, not just thinking and then doing. Radical engagement involves experimenting: trying things out that we’re not sure will work, paying careful attention to the results, and adjusting accordingly – not just doing what is familiar or safe. We discover what is possible through working with our hands and feeling our way forward. 

Habit 6: Collaborate with unlike others.

To transform a system, multiple people with varying capacities and in different positions must find ways to take action together. Radical engagement means working closely with unlike and unlikely others, making our differences productive – not just with people we enjoy, and not forcing or feigning amiability or agreement. We do this by stepping up our engagement with each other and going beyond talking to also acting together. 

Habit 7: Persevere and rest.

A system is organized and structured, often over many years, in a way that produces and reproduces its characteristic set of behaviours. It CAN be reorganized and restructured to produce different behaviours, but rarely easily or quickly. System transformation is therefore a long and winding journey, not a short or straightforward project. Radical engagement involves adjusting our pace and course as we go, rather than sprinting for a short while or just pushing on until we burn out. We combine persevering and resting to ensure that we remain effective and healthy on the journey. 

Adam Kahane is a director of Reos Partners, an international social impact organization that helps people move forward together on their most important and intractable issues.

The post Seven everyday habits for transforming systems appeared first on Corporate Knights.

The road to vehicular electrification seems to be paved with both great ambition and serious bumps. A heady optimism surrounded EVs after Tesla launched its first highway-legal roadster in 2008. In the decade to follow, manufacturers rushed to introduce their own models as the market took off. 

But global sales have slowed in recent years. The exuberance of early adopters has been replaced by the more rational, cost-conscious calculations of mainstream buyers. In some places, incentivizing subsidies have been dropped and charging infrastructure has lagged. Meanwhile, the massive Chinese market has shown more interest in its own brands than Western imports. 

All of this volatility has led many brands – Volvo, GM, Ford, Tesla and Mercedes among them – to walk back on their ambitions: retracted promises of all-electric fleets, reduced capital investment in their EV lines and resurrected conventional models.

But not Jaguar. The British luxury brand is moving in the other direction. As of 2026, it will sell nothing but electric cars. The bold move is part of a complete rebrand by parent company Jaguar Land Rover, which is ditching its emblematic leaping feline, diversifying its portfolio to four brands (Jaguar, Range Rover, Defender and Discovery) and moving Jaguar from the premium segment into the even more rarefied territory of super-luxury. 

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Rawdon Glover, managing director at Jaguar since March 2023, is addressing the company’s sagging sales with a complete reboot. All of Jaguar’s existent models (including its EV, the I-Pace) are being discontinued while it enters a kind of one-year dormancy, with no new sales this year. In 2026, it intends to re-emerge with three entirely new, all-electric models: a four-door grand tourer called the Type OO, which made its real-world debut in Paris in March, and two SUVs, none of which will cost less than US$155,000.

All three are expected to offer all-wheel drive, fast charging (10% to 80% in roughly 13 minutes) and ranges around 700 kilometres. The company will also be offering its EV clients a suite of services, including memberships in supercharging-station clubs, designer wallbox chargers for their homes and an exclusive drive-share program.

Glover’s strategy for rescuing the Jaguar brand seems to be more about profitability than sustainability, but there’s nothing wrong with that. “Luxury brands create irrational need,” Glover told Britain’s Top Gear magazine last year. “No one needs a Hermès work bag.” Nor does anybody need an ultra-luxury car, but it certainly doesn’t hurt to have the EV marketed as an object of desire.

Time will tell if Jaguar’s wager pays off. Industry insiders believe that by narrowing its portfolio and targeting a very select clientele, Jaguar will reap higher returns. If it does, it will have paved at least one viable path to an EV-only future. 

Naomi Buck is a Toronto-based writer who focuses on the issues that will most impact the next generation: sustainability and education. 

The post Jaguar reinvents itself with all-electric gamble appeared first on Corporate Knights.

As CEO, Lütke positions Shopify as a positive force in society, enabling individuals and small businesses to trade globally. But success breeds challenges – and tough choices. In 2017, Shopify was criticized for hosting an online store for Breitbart, the right-wing news channel that has promulgated racist and sexist tropes. Lütke defended his client’s free speech rights, calling commerce “a powerful form of expression.” 

As social tensions rose over the years, Lütke seemingly grew less tolerant. In 2021, a noose emoji that had been uploaded to the company’s internal Slack channel sparked a heated debate among staff – until Lütke cut off the conversation, arguing that such talk represents “victimhood thinking” and “threatens” the effective workplace. 

Donald Trump’s election win in November marked a turning point for businesses that have struggled with diversity and freedom of speech, which now felt free to follow Trump’s lead. Shopify, which powers 12% of U.S. e-commerce, met the moment in mid-January by closing its four-year-old support program for Indigenous entrepreneurs. At the same time, members of Shopify’s equitable commerce team left the company, without explanation. Days later, Shopify shuttered a similar program, its ambitious One Million Black Businesses initiative, intended to help a million Black-owned businesses in Canada and the United States launch, grow and scale up by 2030. On February 1, Shopify abruptly shut down the Slack channel that enabled program participants to stay in touch with each other. (Shopify did not comment on the closures, and its former head of equitable commerce did not respond to queries from Corporate Knights.) 

Lütke’s X account documents his shift toward right-wing politics, with standard promotional content about Shopify, artificial intelligence and cryptocurrency increasingly giving way to endorsing Trump’s tariff threats, conservative culture-war talking points, and DOGE’s chainsaw approach to slashing the size of government.

But opposition is mounting. In late February, nearly 400 Canadian tech leaders signed an open letter condemning Shopify’s cutbacks. The signees urged other tech companies to continue to protect equity and inclusion: “The future of our industry – and our country – depends on defending what makes us different.”

The post How Shopify went from Canada’s tech darling to anti-DEI appeared first on Corporate Knights.

1. Hawaii vs. Big Oil

Since 2020, the city of Honolulu in Hawaii has sought to hold oil and gas companies liable for misleading the public about the impacts of burning fossil fuels. In January, the U.S. Supreme Court turned down an appeal to review the suit, clearing the way for Big Oil to finally stand trial for decades of deception. Honolulu’s lawsuit is one of many currently moving through U.S. courts that accuse big polluters of lying about climate change to hamper the energy transition.

2. Youth vs. fossil fuels

In 2018, Ontario passed the Cap and Trade Cancellation Act, which not only repealed the province’s cap-and-trade system but weakened its climate targets. The backtracking prompted seven young climate campaigners to launch a suit against the provincial government the following year. The Ontario Superior Court initially ruled against them, but in October, an appeals court restored their case and gave them a new hearing. Lawyers for the youth say the court will be asked to provide “meaningful remedies for the government’s ongoing violation of Charter rights.”

3. US. Chamber of Commerce vs. climate disclosure

In 2023, California passed two laws requiring companies to disclose their GHG emissions and their climate-related risks. Last January, the U.S. Chamber of Commerce teamed up with business groups to file a lawsuit claiming that the laws violate their first amendment rights. But two federal judgments on the challenge have so far gone against the plaintiffs, clearing the path for California to become the first state to implement compulsory climate reporting and setting a precedent for other states considering similar rules, like New York and Colorado.

4. Farmers vs. Trump’s anti-science agenda

Just one month into Donald Trump’s new presidency, a cohort of organic farmers and environmental groups sued the U.S. Agriculture Department for scrubbing climate change references from its website, including data and interactive tools. The purged information was used by farmers to plan for climate risks like heat waves, droughts, floods, extreme weather and wildfires. The federal agency also froze key funds, depriving businesses and non-profits of promised money for conservation and climate programs.

5. NGOs vs. oil pipelines

A group of African NGOs is suing the governments of Uganda and Tanzania for approving the East African Crude Oil Pipeline, a 1,500-kilometre, US$5-billion pipeline that is expected to produce 34 million tonnes of carbon per year over four decades. The plaintiffs say their governments failed to examine the project’s contribution to climate change, or the environmental and social impacts of a pipeline that will travel through local communities and ecologically sensitive areas.

This article appeared in the spring 2025 edition of the magazine. 

The post As the legal fight over climate action heats up, here are five cases to watch appeared first on Corporate Knights.

The next day, the president extended his purge into the private sector. A second executive order compelled government agencies to certify that organizations receiving grants or contracts do not operate DEI programs. The directive also warned private companies and colleges against maintaining “illegal DEI programs,” presumably referring to a 2023 Supreme Court decision that found colleges’ race-based admissions programs unconstitutional.

Even as the American Civil Liberties Union protested that DEI policies “helped dismantle entrenched race and sex segregation in high-paying industries,” thousands of civil servants were losing their jobs, and companies such as Google, Walmart and McDonald’s started erasing formal DEI policies. 

But some companies stood strong. Delta Airlines said DEI values “are critical to our business.” Soap-maker Lush introduced three new bath bombs: Diversity, Equity and Inclusion. 

The most prominent stalwart was probably Seattle retail giant Costco Wholesale, whose board voted down a proposal from a right-wing think tank to research the “risks” of maintaining its DEI program. The board said “our commitment to an enterprise rooted in respect and inclusion is appropriate and necessary.”

With its motto “Do the right thing,” America’s third-largest retailer has always been an outlier. Founder James Sinegal believes businesses succeed by doing well by their employees. “We’re proud that Costco pays the highest wages among our peers, that we provide benefit and health-care packages that are second to none, and that we’ve grown our business by promoting from within,” he said in 2012.

Three days after Trump’s executive order, chair Tony E. James said Costco’s commitment to inclusion “has never included quotas or systematic preferences, nor does it mean compromising merit. The demands of our business and our steadfast commitment to serve our members mean that we cannot afford to do anything but hire and promote the most qualified individuals.”

Four days later, 19 Republican state attorneys-general wrote a warning letter chastising Costco for “doubling down” on DEI in defiance of federal and state laws. While this story isn’t over, Costco’s stance earned it a 22% increase in online traffic on February 28, the day of a consumer boycott in support of DEI. That day, competitors Walmart, Amazon and Target all saw traffic declines.

The post Fighting back against anti-DEI attacks brings rewards. Just look at Costco. appeared first on Corporate Knights.

According to those who study consumer habits, millennials and Gen Zs are looking for two things when they go shopping: sustainability and individuality. One jewellery company is capturing hearts and wallets by offering both.

Pandora, launched as a family-run jewellery shop in Copenhagen in 1982, has grown to become the world’s largest jewellery maker, by pieces sold. And unlike much of its industry in recent years, Pandora’s star is rising. As competitors like Tiffany and Signet see diminishing returns, Pandora ended 2024 with 31.7 billion krone (US$4.5 billion) in annual revenue, representing 13% organic growth.

These figures reflect a major turnaround. In 2019, following several years of declining sales, Pandora embarked on a new strategy: to expand its product line beyond the luxury charm bracelets for which it had become famous and go all in on sustainability. It established three new priorities: to decarbonize, push circularity and promote a more diverse corporate culture.

Six years later, Pandora’s charms, which can be engraved and assembled to create personalized pieces, are just one element in its full palette of fine jewellery. And the company is aspiring to the highest sustainability standards in its field. Since 2021, it has used only lab-grown diamonds – to avoid concerns about blood diamonds and inhumane labour practices – and since 2024, exclusively gold and silver in recycled form. 

According to Mads Twomey-Madsen, Pandora’s senior vice president of sustainability, the transition to recycled metals took four years to complete and required 100 additional staff: a relatively small investment for a company with some 37,000 employees worldwide.

More than 40 of Pandora’s suppliers – both smelters and producers of clasps and chains – had to change their processes to meet its new standards (which are issued by the Responsible Jewellery Council), but they were persuaded to do so by the volumes in question.

Pandora claims that its annual purchase of roughly 340 tons of recycled silver, sourced from electronics, silverware, manufacturing waste and old jewellery, accounts for some 6% of the total global market. 

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The shift away from newly mined metals will reduce greenhouse gas emissions across its supply chain by 58,000 metric tons annually by the company’s estimates: roughly the equivalent of taking 6,000 gas-powered cars off the road. It’s also costing Pandora some US$10 million annually, largely in premiums paid to suppliers to help them adjust. It’s “a cost we are willing to absorb” Pandora CEO Alexander Lacik told The New York Times last year.

While sustainability may be front of mind for younger buyers, Lacik admits that the average jewellery shopper is looking primarily at design and price. But even if customers weren’t clamouring for it, Pandora’s sustainability push has proven a sound business decision; according to its 2024 annual report, the company has grown by 45% since 2019. No doubt, others in the industry are watching with interest. 

Naomi Buck is a Toronto-based writer.

The post Pandora’s big bet on sustainability pays off appeared first on Corporate Knights.

In 2016, New York’s Elmhurst Dairy closed its doors as the last remaining fluid-milk plant in the city. The following year, under the continued leadership of second-generation owner Henry Schwartz, the company rebranded as Elmhurst 1925, shifting its focus to plant-based milks. “Established 1925. Founded 2017” is now the proud tagline of the reinvented company, which has since experienced significant growth. 

“After 92 years in business, it was time to embrace a new model and look towards the future,” Schwartz said in a press release at the time, “to lead the plant-based revolution, and create clean label products that are just as delicious and nutritionally robust as dairy milk.”

Between 2010 and 2015, the U.S. dairy-milk market experienced a notable decline, with consumers quitting milk faster than in each of the previous six decades. Public awareness of the environmental impacts and animal welfare concerns associated with traditional dairy production, as well as health risks linked to dairy consumption, helped feed a burgeoning demand for plant-based milk alternatives. This market is projected to continue on a strong upward path, with an estimated compound annual growth rate of between 7.6% to 8.9% reaching more than US$40 billion by 2033/2034. 

 The company uses a proprietary process known as HydroRelease, developed over five years by food scientist Cheryl Mitchell. HydroRelease begins with whole nuts or grains and uses water to separate the nutritional components. These components are then recombined to form a milk-like liquid that retains the original nutritional profile of the source ingredient, without the need for the gums, stabilizers or emulsifiers commonly used in other plant-based milk products on the market. The process results in products with higher protein content and cleaner labels than many of their competitors.

Additionally, all Elmhurst 1925 products are non-GMO, gluten-free, vegan, dairy-free and kosher. “We do it naturally,” Mitchell says on the company’s website, “without adding junk.”

The move has paid off. Elmhurst 1925 has since experienced strong growth and within a few years of making the transition had more than tripled the number of stores where its products are sold. In January 2025, Elmhurst recorded US$35 million in annual revenue, up from $11 million in 2023.

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Italy’s ERG proves you can trade oil for renewables and win

How Orsted ditched coal and became a titan of offshore wind

After Elmhurst made the switch from cows to nuts, the company rapidly diversified its offerings, creating milks from almonds, cashews, hazelnuts and walnuts. It continued to expand its range, launching milks and creamers made from oats, coconuts and pistachios.

Not all these experiments were successful – peanut milk and hemp creamer were trialled and discontinued – but the spirit of trying new things persisted, evolving beyond beverages into plant-based foods. In 2024, it launched a new oat- and hemp-based sour cream and a plant-based “chick’n” kit that allows consumers to create their own hemp-protein-based meat alternative at home. 

Elmhurst’s successful shift from dairy milk to plant-based foods reflects a significant pivot in an evolving marketplace. As consumer appetite for plant-based alternatives continues to rise, companies that meet that demand and demonstrate authentic commitment to the environment are likely to thrive. As Schwartz has said, “It’s about transforming with the times.”

Jessica Scott-Reid is a freelance journalist covering food, farming, animal and environmental topics for Canadian media. She is also a correspondent for Sentient, covering culture and misinformation.

The post Why New York City’s last dairy switched from cows to nuts appeared first on Corporate Knights.

On a grey day in November 2009, a motley crew of German environmentalists paraded across a square in downtown Copenhagen carrying a massive, inflated dinosaur whose torso was a black chimney spewing black balloons. Over megaphones, they explained that their “coalosaurus” protest was directed at the coal-fired power plant that Danish energy giant DONG intended to build on Germany’s Baltic coast.

Local Copenhageners biking to work seemed to be paying no attention, but DONG was. The company, which had been established by the Danish government in 1972 as Dansk Naturgas with a mission to develop oil and gas resources in the North Sea, had grown to become the country’s main supplier of power, and in 2009, that supply was still largely rooted in coal and gas. 

For DONG (Danish Oil and Natural Gas), the coalosaurus was not the only sign that something had to change. In 2009, Copenhagen played host to COP15, and the irony was writ large: a climate conference held in a country whose state-owned power system was one of the most carbon-intensive in the world. Furthermore, the economics of fossil fuels were rapidly changing. As climate consciousness grew and the price of natural gas fell, DONG’s S&P credit rating slid into the negative.

The company embarked on one of the most radical – and successful – corporate transformations of all time. Having announced its intentions the previous year, DONG cancelled its coal plant plans in 2009 and launched a program to flip its energy mix to 85/15 renewables/fossil fuels within a generation. It ended up accomplishing that feat in a decade. 

To do so, it went all in on offshore wind energy. As an emerging market, offshore wind was expensive to produce – twice the cost of onshore – but as DONG divested of its fossil fuel assets, it put all of its resources into optimizing every aspect of offshore construction and operation. It began investing in, buying and developing offshore farms across Europe and the United States.

Having sold off the last of its oil and gas production business in 2017, DONG changed its name to Ørsted, after the 18th-century Danish scientist Hans Christian Ørsted, who discovered the connection between electricity and magnetism.

By 2019, Ørsted owned 30% of the global market in offshore wind energy, with farms in Denmark, Britain, Germany, the Netherlands and Taiwan. That year, Corporate Knights crowned it the world’s most sustainable energy company. While it still gets some revenue from the distribution of fossil-fuel-derived energy, 91% of Ørsted’s earnings aligned with the European Union’s taxonomy of sustainable activities in 2024, the same year it closed its last coal-fired power plant. 

Ørsted’s transformation was remarkable not only in its speed and scale. In 2016, the company went public on the Copenhagen stock exchange in a US$15-billion initial public offering: at the time, the world’s second biggest ever. Its stock price soared, with the company’s market value peaking in 2021 at more than US$95 billion.

Masters of Metamorphosis

How some companies are embracing radical change to succeed in the green economy

Italy’s ERG proves you can trade oil for renewables and win

Why New York City’s last dairy switched from cows to nuts

In recent years, Ørsted has faced headwinds – inflation, higher interest rates and the supply chain breakdown that resulted from the pandemic. Donald Trump’s January announcement that “we are not going to do the windmill thing” and subsequent dismantling of green infrastructure funding further threaten Ørsted’s U.S. projects.

But the company is open about the challenges it has faced; it shares a white paper on its website detailing lessons learned along the way, and the ongoing case for offshore wind. And it remains steadfast in its mission, in the words of former CEO Mads Nipper, “to prove that there is no long-term trade-off between sustainability and financial value creation.”

Naomi Buck is a Toronto-based writer.

The post How Orsted ditched coal and became a titan of offshore wind appeared first on Corporate Knights.

If we don’t get to a much stronger place soon, we may cease to be a nation-state at all.

We’ve long been aware of the risks of the elephant next door. We have risen to the challenge when called for, before and after Confederation. 

When the United States invaded Upper Canada in 1812, under the leadership of British Major-General Robert Ross, we literally ate their dinner (President Madison fled, leaving an untouched feast) and burned the White House down.

The boldest play we can make is to forge a soup-to-nuts clean energy superpower, from critical minerals and batteries to smart grids, financial wizardry and engineering know-how.

After Confederation, to unite Canada and thwart U.S. expansionism, Sir John A. Macdonald, along with a team of builders and financial wizards, led the most consequential nation-building project in our history, pounding in the last spike of the 4,700-kilometre Canadian Pacific Railway in 1885.

The elephant and the polar bear

Here we are in 2025 with the elephant trumpeting again. Trudeau Sr. likened us to a mouse in this dynamic, but by relative weight – and I hope attitude – we are more of a polar bear. What would a polar bear do? According to Inuit lore, polar bears are seen as powerful spiritual beings embodying strength, resilience and adaptability. A polar bear knows the full meaning of “We the North,” and a polar bear never rolls over (unless it’s playing or cleaning itself). 

How do we build a stronger Canada? It starts with a stronger economy.

We can take inspiration from some of our winter sport heroes. We need to “skate to where the puck is going.” That means investing where fortunes are rising, not falling. With apologies to Harold Innis, the famed political economist, hewing wood and drawing water (and, soon, drilling for oil ) is not where the money is. The clean energy economy is the locomotive for 21st-century growth. As measured by Corporate Knights and others, it is growing twice as fast as the rest of the economy and is now the dominant driver of economic growth across sectors and the world. 

The boldest play we can make is to forge a soup-to-nuts clean energy superpower, from critical minerals and batteries to smart grids, financial wizardry and engineering know-how. 

We have all the ingredients to do this. The only thing missing is leadership.

We have a need for speed

It’s one thing to say we are going to be a clean energy superpower; it’s quite another to make it happen. The goons from the status quo industries have been going into the corner and coming out with the puck for a long time: case in point, 10 years after Trudeau was elected on a promise to price pollution, the biggest oil companies are still polluting for free. That’s why we need to keep our elbows up, to make sure we don’t lose the puck.

Markets and geopolitics are moving too fast for us to go slow. No time for Royal commissions or expert panels. We have a need for speed. Like the masters of metamorphosis featured on p. 32, we need to dare to push the limits of what is possible, faster than we have ever gone before. 

In the spirit of friendlier times with our neighbour, we can take a page out of Franklin D. Roosevelt’s first 100 days, where he passed 15 major bills and delinked the dollar from the gold standard, laying the way for major public investments (in the order of 6% of GDP for six years) that saved the United States from the Depression. 

Let us hope the next leader of our land brings the resilient spirit of a polar bear, the vision of the Great One (on the ice, not off), the sharp elbows of Mr. Hockey and the daring speed of the Crazy Canucks. Mix all that with a little financial wizardry, and we will make magic happen.

Toby Heaps is the co-founder, publisher and CEO of Corporate Knights. 

The post Publisher’s Note: Canada’s next leader must skate to where the puck is going appeared first on Corporate Knights.

In 2008, the Italian oil company ERG faced a crossroads. Having sold its 49% stake in a Sicilian refinery to Russian oil giant Lukoil just before the markets crashed, it had cash to burn. And it had a fundamental choice to make.

The company had always been pragmatic. It was established in 1938 as a small oil, tar and chemicals business; in the postwar reconstruction period, its founder, Edoardo Garrone, pivoted to brick manufacturing. But as the demand for oil grew, Garrone turned to production and refining and, from its base in the port city of Genoa, positioned ERG to fuel the country’s industrial boom of the 1950s and 1960s. 

But in the decades to follow, the OPEC (Organization of the Petroleum Exporting Countries) oil crisis and the growing dominance of Saudi Arabia and Asia in refining technologies led the family-owned company to question its sole reliance on hydrocarbons. In 2004, it dipped its toes into renewables, entering a joint venture with a Spanish renewable-energy company before purchasing an Italian wind company that expanded into the French market.

In 2008, when ERG was weighing its options, pragmatism again prevailed. Garrone’s grandsons, who serve on the board, agreed with fellow shareholders and CEO Luca Bettonte that the company should concentrate on the fastest-growing segment in the energy sector: renewables. “I can’t say we made the decision because we wanted to save the world,” Bettonte told Corporate Knights in a 2021 interview. “But the idea to go green played a part in it.” 

What happened in the years to follow was transformative. By 2013, ERG had become Italy’s leading producer of wind energy. It now has installed capacity in the United Kingdom, Germany, France, Poland, Romania, Bulgaria and Sweden, making it one of the continent’s top 10 wind companies. It also owns major solar installations in Italy, Spain, France and the United States. 

In October 2023, ERG divested of its last remaining hydrocarbon asset, with the sale of a combined-cycle gas turbine power plant in Sicily. It now calls itself a pure wind and solar energy company. 

Masters of Metamorphosis

How some companies are embracing radical change to succeed in the green economy

Why New York City’s last dairy switched from cows to nuts

How Orsted ditched coal and became a titan of offshore wind

The winds will not always blow in its favour; ERG’s aggressive push into the United States, which began in 2024, will not proceed as smoothly as hoped under the administration of Donald Trump. And it remains vulnerable to shifting regulatory frameworks and unstable electricity prices – not to mention the weather. Nonetheless, its renewable capacity – and earnings – continues to grow.

ERG’s wholesale transition from black to green took little over a decade, and with it the company redefined itself: no longer responding to Italy’s demand for oil, it sees itself – in its own words – “inspiring change to power the future.” 

Naomi Buck is a Toronto-based writer.

The post Italy’s ERG proves you can trade oil for renewables and win appeared first on Corporate Knights.