Podcast

Episode: 470 |
Nidhi Chadda :
ESG Solutions:
Episode
470

HOW TO THRIVE AS AN
INDEPENDENT PROFESSIONAL

Nidhi Chadda

ESG Solutions

Show Notes

McKinsey alum with an MBA from Harvard Business School, Nidhi Chadda has 20+ years of experience as an investment banker, strategic consultant and investor. She is the Founder and CEO of Enzo Advisors, a global sustainability consulting firm focused on helping companies build best-in-class sustainable business models within an ESG construct. In today’s episode, she talks about ESG in business. You can reach out to Nidhi on LinkedIn or visit her website EnzoAdvisors.com

 

Key points include:

  • 02:12: ESG and investing in asset management
  • 08:20: The Sustainability Accounting Standards Board (SASB) factor
  • 11:19: ESG and value creation
  • 20:32: Trends in ESG

 

One weekly email with bonus materials and summaries of each new episode:

 

470.Nidhi Chadda

 

Will Bachman 00:01

Hello, and welcome to Unleashed the show that explores how to thrive as an independent professional. I’m your host will Bachman and I’m excited to be here today with Nidhi Chadda, who runs Enzo advisors that focuses on the world of ESG Nidhi. Welcome to the show. Thanks.

 

Nidhi Chadda 00:18

Well, for having me.

 

Will Bachman 00:19

Let’s start with the basics. What? How would you define ESG?

 

Nidhi Chadda 00:25

Sure, ESG, environmental, social and governance in terms of the criteria we look at. And more broadly, these are factors that are relevant to those verticals of environmental, social, and governance that pertain to companies and their business model. So as an example, environmental would be anything from greenhouse gas emissions to thinking about water waste management, recycling programs, social would vary from everything from Workplace Safety to be aI policy, diversity and inclusion, it also would be including product quality and safety. And then governance is typically Executive Compensation Board or director composition, etc. And I would say that governance has really been table stakes over the past couple of years, as companies understand what they need to do from a governance standpoint. But the challenge really has been on environmental and social and really getting ramped up and developing the right policies and frameworks to articulate that message in a more clear and concise fashion.

 

Will Bachman 01:27

So I understand that your firm has at least two service lines, maybe more of it. One of them is around helping corporates develop a ESG roadmap, and the other one is working with investors on their investing plan related to ESG. And there might be some others. But could we start with your work with investors? I’m curious to hear sort of, what are investors doing around ESG? And what gets them into it? Is it something to do with their pension fund? And they have a mandate from their board to just do this? Or do they think it’ll be better for the returns or to talk to me about what’s going on with ESG in the world of investing in asset management?

 

Nidhi Chadda 02:12

Sure, with respect to the investment community. So first of all, coming from the background of investment management, I’ve really seen ESG evolve over the years as to how well it’s integrated across asset classes. And we as a firm advise investors across VC, PE, as well as asset managers, public asset manager. So by looking at the public and private markets, ESG integration really varies across the gamut. But one thing that is common across all the investors that typically reach out to us is usually they’ll get a call from their LPs that are asking about ESG criteria. They want to better understand if the investors are incorporating this into their diligence process. And if so, how are they tracking it? Are there any metrics that are being followed, and most investors don’t necessarily have a formalized process with respect to ESG integration ESG is a key topic that’s considered as you are evaluating business models, whether it’s on the environmental or social side, take labor standards, for example, every investor will always evaluate the labor standards and practices as they’re thinking about their businesses. However, not all this is articulated in a lot of detail. So investors need to formalize these policies and these processes. So for the most part, most of the conversations we start with will come to us from the standpoint of we do not have an ESG formalized policy. And we need to formalize our process in terms of thinking through these various metrics, how do we go about that. And my goal with every investor, irrespective of asset class, is to make sure they incorporate these factors without changing their stripes. So the goal is never to make an investor change their approach, but rather enhance their approach. So if it’s a value shop, the focus will be on thinking about ESG. As a risk management tool, a growth shop may be a combination of thinking of the risk, as well as the value creation opportunities long term, as it takes years to see some of these catalysts play out. And then the investors that are more on the private markets, it really depends on what stage. So with venture capital, I’d say venture is probably fairly new to ESG. We’re in very early innings. But as you can imagine, diversity and inclusion is such a key important topic in the venture community these days. That that is usually the first question that the VCs have for us is developing a diversity policy, both for their firm and then thinking about that for their portfolio companies. And depending on the stage of a company and its lifecycle. ESG will impact the company in different ways. So an early stage company may not be able to focus on greenhouse gas emissions, but they’ll be able to address cybersecurity data privacy, and thinking about human capital practices. And of course, governance is always top of mind. And then in the private equity side. This is where it really gets interesting because we get to see a lot of these these ESG factors and really see them play out in terms of long term value creation drivers. As an example, if you own a portfolio company, and you’re owning it for several years, as a private equity firm, you have the ability to incorporate some of these operational levers. And to see some of these changes actually drive value over time. One example would be if a portfolio companies consumer packaged goods, and they have a sustainable brand, or a product line, that could be high growth, that sustainability of that line might actually warranted pricing premium. And so we always guide our investors thinking about value creation and various levers revenue growth, cost savings and improving cost of capital. So that’s the other avenue that you know, comes up quite a bit in our conversations. That’s usually where the conversation starts. And we typically will start with the high level on the policy deciding aspirationally, where the investor wants to be. Which UN Sustainable Development Goal makes sense for them to be tied to, and how do they want to develop the metrics along the way, and then we develop the roadmap at the portfolio level. With public investing. It’s interesting, because at large cap disclosure is quite good companies that are north of 30 billion or more in market cap, they will oftentimes have at least one person if not a team, of individuals who are driving all the ESG data disclosure. So we have some robust disclosure. But the problem is on the small mid cap side, there’s not a lot of disclosure available. So investors also want to understand what are the ESG factors to think about how to ask the company these questions what’s relevant and material to understanding it from a financial lens standpoint. And these are the general questions that we get. The last point I would say well is on in terms of SEC compliance and making sure that the marketing the investment style and actual compliance is all aligned. So what ends up happening since the FCC had issued their alert back in April last year, there is a emphasis on avoiding greenwashing. And greenwashing is essentially firms that are talking about doing ESG, but not properly having the protocol and the experience and even the process to support that. And so SEC is really hone down on greenwashing and identifying funds that may not be aligned and maybe misrepresenting their investment process and how much he or she is integrated. So we often get calls about that as well. And how do we as a firm, make sure that our marketing investment story and compliance are completely aligned?

 

Will Bachman 07:34

Do are there kind of it seems like there’s so many different variables that you know, cross E, S and G, that a company could be doing great on greenhouse gas, but not so good on diversity inclusion, or they could be doing great on product quality, but not so great on recycling or, you know, so is there kind of a, someone developing a scoring system or, you know, an ABCD letter grade or some kind of credit score something for ESG. So, every single investor or counterparty or supplier or customer doesn’t have to independently try to research, you know, how good is this company on these 16 different dimensions?

 

Nidhi Chadda 08:20

Yes, absolutely. There is what’s called the SASB. factor. So SASB stands for sustainability Accounting Standards Board. And essentially, this is the go to standard whereby investors and companies will review this, to identify what are the key material factors as relevant to their industry, this is always a great starting point well, so you can basically go to SASB, look at a materiality map and identify what are the key topics that are extremely relevant to your business, and what could have a material financial impact. So it always, it’s always a good starting point, with respect to thinking about factors. But then in addition to that, most companies will also do their own materiality matrices, which is their own internal homework as to what topics are relevant for their given company. That’s another great starting point to evaluate what factors are relevant to an industry, but from a weighting standpoint, the SASB gives you a good idea of what the key factors are. And then when to look at it sector by sector, you can identify Well, social might be more relevant in this sector versus environmental in another. So as an example, in industrials, environmental topics would take a much more meaningful way. Whereas in technology, social topics would be a prime importance and thinking about human labor, capital practices, diversity, etc. So it really varies by sector. There are rating providers that also do provide breakdowns and weights in terms of sectors. MSCI is one example. They actually have that on their website whereby you can look at the weights by sector, and it gives you some sense as companies and investors are developing their own in house rating systems. They can use that as a guide But you’re absolutely correct that, you know, there’s some a starting point, you definitely need to build a hone in on what is relevant to that given company to that given sector and doing peer benchmarking and looking at the standard is the best way to go.

 

Will Bachman 10:13

Another question is, to what degree has the research shown that companies that do well on ESG, will have better return on investment? And I guess part of my question is, one would think that if it were the case that some of these elements actually lead to better return on investment, then you wouldn’t need kind of a separate ESG officer to do it. The just like the smarter companies would do those things that have better performance and dominate the rivals, etc. So talk about that a little bit. Is there just the is there an issue where there’s that there’s a mismatch of information? So it actually does drive performance, but companies don’t realize that? Or why is it that we need to have an ESG initiative, whereas we don’t need to have initiative on say, you know, pricing or customer retention? Right? Companies know, customer retention is good drives drives the bottom line. So why do we need to have like an ESG, Officer or ESG program?

 

Nidhi Chadda 11:19

Oftentimes, there is confusion about how ESG is linked to value creation. And you’re absolutely correct that ESG hits on so many different areas and aspects of a business. So when you think about what defines the quality business model, chances are, it actually does touch upon a lot of the ESG factors, take retention and hiring practices. As an example, if you look at companies that have had great retention, and very low employee turnover, that is considered an ESG factor. And that could be extremely relevant in sectors like consumer and technology. So for that standpoint, that’s just one example of how an ESG factor that is covered from a different division is something that’s been monitored. The problem is that with ESG, frameworks and the disclosure that’s required, you do need somebody to take that information that comes from multiple divisions and be able to articulate that into one story into one program. The standards are really touching upon multiple functions across the organization. And there needs to be somebody that can go through each of these divisions, incorporate what is relevant to these programs, and from a reporting and external communication standards to identify and make sure that they are also aligned with the the global standard that they need to report again. So whether it says V or the Global Reporting Initiative, depending on their geography, there’s somebody that’s going to point out to be in charge of that data collection. But in addition to that, that also requires a little bit of deeper disclosure on certain topics that may not be covered by a business division, for example, greenhouse gas accounting, that is something that because of the nature of how emissions are calculated, whether it’s something related to a company’s buildings, their transportation, or even their supplier ecosystem that hits multiple businesses, and division, so you need somebody who is centralized, who understand how ESG is driving value across those levers to really spearhead this information and be able to identify, Okay, well, these are the factors that were are contributing to our story of sustainability. And it’s really because he or she hits on the entire value chain, you need somebody to identify and take a higher level look at it. Now, that being said, the academic research on ESG, and linking that to value creation has been there, it’s been there for years. It’s definitely gotten gotten more prominence over the last couple of years. McKinsey did a study recently, they talked about five levers that could be utilized with respect to ESG value creation, but I see this in really three buckets, revenue growth, drivers cost savings and improving cost of capital. As long as the levers are hitting one of those three buckets, then it’s definitely one area where we could look into a lot deeper and see if this could have material impact for a given company. And that would be irrespective of sectors.

 

Will Bachman 14:01

Could you talk about what a let’s say that you’ve done the project for an investor and you’ve come to the conclusion and the project is is completed? They’re happy they have their ESG strategy. Done? What does that look like? Tell? Is it you know, here is the specific area that we as a firm are going to care about and focus or what’s the org structure like around it, does it? How does it impact their investment decisions? Talk to me a little bit what the end product is.

 

Nidhi Chadda 14:34

The end product should always be will the impact, you know, what is the goal of these initiatives? It’s beyond reporting structures and making sure we have the right disclosures. It’s about how do we drive impact within the company? So as an example, the exercise of building any issue program for a corporation allows them to think about and prioritize internally, which of these ESG topics or which of these topics in general are relevant to our business, you know, how important is diversity and inclusion? How important is carbon footprinting? How important is product safety. And once a management and internally, the group of individuals who are looking at ESG, they can evaluate these topics, it allows the company to say remain focused on which is most relevant in terms of prioritization, in terms of driving initiatives. So as an example, I was recently working with an oil and gas company. For them, they were actually very balanced and thinking about environment, issues, as well as social, although, of course, environmental being top of mind given the energy transition, but they recognize that they had an internal program that was supportive of good diversity and inclusion numbers, they are seeing strong numbers with respect to retention and hiring. And they wanted to launch an initiative that further supported a women’s peer network and be able to really highlight some of the peers and make sure that they have a support network and to continue to improve the turnover at the company. And similarly, they were launching this program globally. In addition to that, they recognize that carbon footprinting is relevant. And the analysis that we did to identify what the carbon footprint look like, basically gave them a landscape of Well, here are areas that we can actually improve operationally to drive our carbon footprint lower. So it gives them a roadmap on the initiatives that they need to launch to keep improving on certain metrics. And it turns out that the road to decarbonisation for this company, is also an element of cost savings, because they found a way to do this in a cost effective way. Where as return on investment is very critical for corporations and investors. And they found a way to link the two, we explore those initiatives. And we look at the cost benefit analysis of various initiatives. And then we help them launch those initiatives, whether they’re environmentally driven, or social. And I say typically, these initiatives could take months to launch. And a minimum, sometimes data collection could be the hardest part of just companies figuring out, you know, where are they struggling with? What are the what are the numbers look like over the years, and some of these companies don’t have infrastructure, so there is a process of collecting the data before they can evaluate next steps. And we help them with their data collection into deciding what’s the right initiative, and what the cost benefit is to watch a certain initiative. And that could even include new product development as an example, in a company like an oil and gas sector, where energy transition could be disruptive to their overall product flow, we’re also thinking about new product development and how they can consider that. So they’re not completely cannibalizing their sales. So those are the types of questions we’re thinking about always with the mindset of the financial impact. And you know, thinking through the returns over the long term,

 

Will Bachman 17:38

who’s typically the the buyer of consulting services for ESG in a corporation? Are the decision maker on a project like this, is it? Is there usually some head of ESG? Who, who’s that’s the person’s job for the whole company? Or is it the kind of the CEO just one collateral duty? Or is it often embedded within each business unit? Talk to me about just organizationally, how companies are approaching this.

 

Nidhi Chadda 18:08

Sure. And it really varies well, because what I’ve had been seeing is I’ve oftentimes approached by legal counsel, because he or she is also considered considered as a risk management tool. So oftentimes, leader will reach out they know the risk disclosures, particularly on climate are pending. And they want to better understand that I’ve also been approached by the heads of ESG, they need the additional support, because there’s a lot of data to consider and to think about these initiatives, particularly on the climate side of thinking through science based targets, decarbonisation initiatives, getting technical work, is something that they definitely need the expertise on. And then sometimes it seems sweet, you know, the, it’s there is a focus on ESG, which oftentimes, I find that management is very focused and excited about ESG, qualitatively, they don’t know how to necessarily launch a program, and be able to tie metrics and initiatives so that this way they can properly track and monitor the impact of what these programs have. So we’ll oftentimes have a conversation that may start on one sliver of an opportunity. It might be the C suite suite may reach out to us in terms of social initiatives, but that conversation may lend itself to considering other avenues on environmental that they may not have touched upon before. So usually the conversation is in a phased approach. And there’s that definitely general excitement, I would say, amongst corporates to launch a program, there’s always a fine balance of, you know, how much do we need to do? And make sure that you know, investors and stakeholders are excited about it. Now, we’re in a world where even when companies are getting their tenders from prospective clients, they know that they need to actually answer a lot of the issue questions. So it’s coming up more and more in requests for information for companies and so recognizing that this is something they realized they need to have a proper policy and they want to be competitive with their peers, and especially with the public annoying that investors are really caring about this topic, they want to make sure they can articulate that as well. So in that last bucket, the investor relations team sometimes reaches out as well. So in summary, I’d say, you know, head of ESG on specific projects, Investor Relations more from a messaging standpoint, but definitely C suite and legal counsel for the bulk of the program and building out the full integration.

 

Will Bachman 20:24

What, what trends have you seen over the past two, three years? What’s changed since you kind of started your practice?

 

Nidhi Chadda 20:32

I would say the number one change is the knowledge and the acceptance that ESG is here to stay. Interestingly, in the depths of COVID. I recall this distinctly in in June, and I remember the market was down 800 points, and I was giving a talk that day. And I asked the participants on the webinar, How many of you feel that ESG is a fad, or is this a paradigm shift and 70% on the call. So this was a paradigm shift, which was really eye opening. And it really made me realize that you people have recognized that corporate social responsibility is here to stay. We were at the early inflections of that, and 2019. But COVID has definitely made a mark. And people are now also seeing climate risk as a real consideration as an additional tail risk. So going from a black swan event to a green swan event, is something that’s in consideration from a risk management standpoint. So the reality of ESG. And the fact that it’s here to stay for the next decade is important. There, of course, are always people who will understand this at a personal level. And that will always drive the interest in ESG. But I’m seeing that global interest, you know, irrespective of demographic and geography, which has been very exciting. And I would say the regulations, of course, have changed quite a bit. So the regulations, particularly have accelerated not only in the EU, but even in the US, we’re hearing more from the FCC, there might even be some consideration of having a climate disclosure framework that gets mandated in the States, sometime next year. So there is a lot more regulation that’s driving interest in this market. And then I would say that generally speaking, you know, with ESG, people are also seeing some of the value creation that coming out of some of these initiatives, whether it’s on the social side, or even on the environmental side, you know, the, for example, there are companies improving their water use efficiency, and that cost savings or their energy usage is improving, that’s also additional cost savings. So when people tangible results, people get excited, that’s on the corporate side, and the investor side, I would say the investors have become a lot more knowledgeable over the last couple years, when I was writing the RFPs. As a portfolio manager at RBC, the RFPs were very high level, they were fairly simple. They would ask about do you have an ESG process? How do you integrate ESG? And that was it. That was the only time he issue was addressed. Now, when you look at RFPs, they get into the detail of understanding and wanting to know how funds are managing climate risk, how are they thinking about Net Zero for their companies? How are they incorporating that into their financial analysis and into their portfolio construction, and same topic comes up with social issues. So diversity and inclusion is a big topic that it gets considered in portfolio construction as well. putting all that together now, it actually leads to a very advanced knowledge base amongst the allocators, which, of course, will then push the investors to want to really integrate ESG in a meaningful way. So that those are the factors I’d say I’ve really changed and accelerated the interest in ESG.

 

Will Bachman 23:28

You mentioned the term corporate social responsibility. To what degree is that different from ESG? is I mean, it sounds like there’s really overlap, are there places where there’s something counts as CSR and not ESG and vice versa? Well, Corporate

 

Nidhi Chadda 23:44

Social Responsibility is more the high level bucket seen in terms of thinking about some of these topics and making sure that there is some responsibility as a business to operate in a, in an ethical manner. And so that I would see as a broad based concept ESG, integrated investing, I see that as driving risk adjusted returns by considering factors both from a risk lens as well as from a value creation lens. So that is the umbrella that is more technical, as I see it, that’s tied to risk adjustment in returns. But then there are slivers within these buckets, such as impact investing, socially responsible investing, I see these as within the ESG bucket. So Sri, socially responsible investing is about values based investing that is aligned and falls within, broadly speaking, CSR, but this is when the investment is actually being tied to specific sectors. There’s let’s say, That’s avoidance of investing in certain sectors, and there’s actually investing decisions made off that and then there’s the extreme on the other end of the spectrum, which is impact investing and that’s when returns are cracked for the environmental and social impact. So on The impact initiatives are measured in a meaningful way. And there’s actually ways to quantify and track progress. So it’s a it’s a fairly broad term to talk about ESG. And then even above that corporate social responsibility. But from a return standpoint, I think that ESG Sri and impact investing is probably the three key buckets to consider.

 

Will Bachman 25:22

Could you walk me through a case example? Obviously, you can sanitize it, of working with a corporate client to help them develop their ESG roadmap? What would the phases sort of week by week look like in that kind of a project?

 

Nidhi Chadda 25:37

Sure, we typically will start with a diagnostic assessment of understanding if the company has an ESG plan in place, and in many times companies have no plan. And they’re just coming to us to start a program from scratch. And what that first entails is understanding the overall sector, reviewing a competitive landscape and giving them a sense on benchmarking as to what is relevant to their industry, what is material for them to consider? And where should we look into potentially launching initiatives, part of the initial aspect of any corporate ESG program is developing an ESG roadmap. And what that entails is once we’ve looked at what factors are relevant, and we’ve helped them identify and build a materiality matrix to prioritize those topics and issues, we then move into developing the roadmap, which is collecting all the key KPIs that are relevant to these factors. So for example, it might be looking at water management or waste management over the last three or five years. And being able to look at those trends and identifying where things are been going well, what needs improvement. And then if they don’t have a plan to in place to collect data, it’s helping them develop that infrastructure. So we start with the data collection side. Once we do that, we then evaluate and see how the data looks. In addition to that, we also are helping companies develop policies, some companies may not have all their policies in place. For example, one common one that comes up in conversations for us is supplier code of conduct. A lot of companies do not have a formalized way to audit their suppliers. But now that CSR and focus on ESG is becoming top of mind, there is a key consideration to have some type of vetting process for suppliers. So we would help to write these policies as well, in addition to while we’re evaluating the KPIs for purposes of reporting frameworks, from an ESG standards standpoint, once we look at all the data, we then move into the operational side and we say, All right, well, what would we want to do to improve and launch some new initiatives to close the gap versus peers and possibly whether it could be on the risk side to mitigate risk, or it could be value creation drivers? And that could range anything from thinking about where their carbon footprint is today? And how could we reduce it? How could we help them get to science based targets, or it could be something along the lines of social initiatives could be local community initiatives, this particular company did a lot of work on STEM education for K through 12. So we launch programs there. And in addition to that, we’ve evaluated a new product development to identify what they can do from a new product standpoint, that could help reduce their carbon footprint. So then this is the operational side of the equation. And then lastly, we get to once we have a full program where we have the factors mapped, we have initiatives to help close the gaps. We’re able to highlight some policies and complete any policies that have not been yet written, we make sure we have a good balance of the climate sustainability policies as well as social that will include data privacy, it health and safety as an example. And of course, ethics is always critical. And then we get into external communication, that’s going to be everything from website content and developing a CSR report, it might even involve for public companies being able to have communication with stakeholders, to this could be the larger investors as an example. It’s also developing the reporting frameworks and making sure we have KPIs to launch on that. And many companies also do provide data to rating providers. So it’s helping to make sure that rating providers are up to speed on all the data. And so then there’s this external communication that will include everything from websites to to reporting, telling your sustainability story, and selling that to stakeholders. And that will be really mostly the investors but then also customers and thinking more big picture about the entire business model. This whole process, at minimum will take us about six months. But it’s typically done in phases. The typical assessment process and benchmarking is only a month. After we do that we’ll spend about a month on the launching the ESG roadmap, developing the KPIs, the initiatives, of course take the longest time to launch and then everything we do we tie the strategy to financials and thinking about the impact because we’re a returns focus for companies and for investors. So we want to make sure that they’re investing in the right areas. And so we make sure that once we have that plan of action, that it’s approved and everyone is on board, whether it’s an ESG team or whether C suite, we make sure we’re updating management and the board fairly regularly on development. And of course, the goal at the end of the day is to have impact. So as we develop these initiatives, we want to put in measures and put the infrastructure in place to track impact over time. And that’s something we do both on the environmental and social side. We also as a firm, we have developed a lot of proprietary frameworks. As I’ve seen, well in the market, that there was a lot of holes with respect to helping companies build these strategies and build these programs. And one example that we launched several months ago was an integrated climate strategy framework. And that helps companies who have never done any work on climate, to think through greenhouse gas emissions, calculate that in a very transparent, credible way that can be audited, look at the numbers and tie that back to financials and help them develop a climate strategy that feasible and achievable because as especially as these frameworks become mandated, especially in the US, it’s important to have financials and strategy tie, and be in tandem with the overall messaging. And so we help with that whole overall story as well. And that process and minimize image it takes about at least six months or so.

 

Will Bachman 31:12

What have you done to build your visibility and the visibility of your firm on this topic? Before we start recording, you mentioned just this morning that you gave a talk to some bankers. Talk to me about how you’ve been, you know, working to become top of mind on this topic.

 

Nidhi Chadda 31:29

Since I have been focused on ESG, even as an investor several years ago, I definitely made it a point over the years to continue to build my knowledge base. And since I launched into advisors back in April 2020. The marketing that I’ve done has largely been off podcast webinars, I’ve been very excited to say that I have been invited to several major media outlets, CNBC was actually something I had done just six months into my launch. And just having that type of coverage, in addition to having the support of Harvard Alumni angels, and doing a webinar with them on ESG integration has been has been a paramount importance. One thing led to another I’ve done a lot of talks with research analyst with banks. A lot of the podcasts and webinars we have done have also been with some of our partners as well, we do partner with technology firms, in addition to developing our own proprietary frameworks, and then just being invited to various associations that are wrapping up on ESG. For example, I did a talk recently for the an auditing institution. And they wanted to better understand how ESG could impact the auditing profession. So definitely done a lot of talks there. And then the on the investment side, in addition to media, I’ve also done some talks with respect to conferences on investment management, women in asset management was a big conference, I’ve done two years in a row, where we talked about ESG integration from an investing lens standpoint as well. And sometimes we’ll do sector specific work, Women’s Wear Daily covered ESG integration. early January last year, we talked about how ESG is becoming top of mind for consumer companies. So I say the podcast and the webinars have been top of mind and folks have fortunately been recognizing how our thought leadership has continued to grow, which I’m very grateful for.

 

Will Bachman 33:25

Yeah, and how did some of those come about? So for example, the talk to the auditing institution? Did you kind of note that they had a conference and reach out to them? Or did they find you somehow or just someone that you would met or former client? Like? How did some of those come about?

 

Nidhi Chadda 33:40

Well, it’s interesting, because a lot of the talks that I’ve done, particularly, I’d say the second half of 2021, have all been inbound, folks that have reached out to me, because they’ve heard one of my prior webinars, or they have seen some of my postings on LinkedIn. If I see a specific article, or I’m focused on a certain area that has led to additional podcasts as well, for example, I’ve done quite a bit of work with respect to talking about the industrial lens. And then I was invited to speak on dei for venture capital firms and family offices. In addition to that, the climate side, we’ve been doing a lot of work on our climate framework. So for that reason, I was asked to speak on some of the inflection points to net zero. So we developed a podcast there. So it’s really been a lot of it’s been inbound in terms of just the thought leadership work that we’ve been doing internally and just building internally. And as people have been working with us and recognizing that we look at sustainability from a very holistic lens, we’re not just creditors, that are certification standards, or auditors that are looking at in a sliver, but we’re actually seeing in a very holistic way. So by able to go high level and then go deep on certain topics. We’ve been invited accordingly. So I think it’s a it’s a pretty good balance between doing talks for investors as well as corporations.

 

Will Bachman 34:59

Fantastic. Well, on that note, where can people find your firm online if they wanted to reach out to you?

 

Nidhi Chadda 35:06

Sure. So our website is www dot Enzo advisors llc.com Feel free to reach out to me directly via email. My first name Nidhi at Enzo advisors calm and we look forward to talking more about ESG and answering any questions people may have.

 

Will Bachman 35:24

Fantastic well Nidhi thank you so much for being on the show today and we will include those links in the show notes.

 

Nidhi Chadda 35:30

Great. Thanks again for having me. Well

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