building an ESG program from the ground up at Olo
At qb., we know that creating effective ESG policies, protocols, and oversight requires hard work and behavioral change, which is why we're shining a spotlight on the individuals who are leading the charge. In our new series: “ESG Leaders + Governance”, we highlight the people behind the transformational actions and programs that are shaping the future of business. We’ll talk to ESG leaders from different industries and backgrounds, we'll delve into the challenges they've faced, the strategies they've employed, and the lessons they've learned along the way.
James Rooney, Senior Director of ESG Strategy at Olo, is infusing sustainability, social impact, and robust governance strategies into the company’s very fabric. He’s built their ESG program from the ground up — handling everything related to social impact, environmental sustainability, and governance activities that resonate and align with Olo’s mission and core values.
published 9.29.23
Here are James’ top 5 insights from designing Olo’s unique ESG program:
Top-down buy-in allows us to spend energy in the right places
One thing we've excelled at is strong governance — it is the driving force behind Olo's ESG journey. Our board has been super involved, and we’ve received unwavering support from senior leadership. When I propose initiatives, our senior leadership and executive sponsors are not just supportive, but enthusiastic about our ESG journey.
ESG falls under HR, but we've got executive sponsors, legal experts, and departments from across the company involved, ensuring that our governance practices are rock solid. This backing creates a smooth path with minimal roadblocks, allowing us to channel our energy into meaningful ESG advancements rather than spending time convincing stakeholders. We’re working to create a change that not only aligns with our values but also positively impacts the world around us.
It takes a team to tackle ever-changing regulations
Our ESG commitment started right from the get-go. Our inaugural proxy statement and annual report showcased our dedication to ESG, a tradition we've continued in subsequent earnings reports and investor communications. Navigating the world of ESG as a publicly traded company has and continues to involve real collaboration with our investor relations and legal teams. Building strong relationships with these teams has been my priority since I joined Olo. This ensures that as new regulations emerge, we're in sync, well-prepared, and in alignment with the requirements.
We're staying vigilant about new regulations, monitoring the SEC closely to anticipate any changes. The legal team, risk assessment experts, and I are already immersed in understanding proposed changes and aligning with frameworks like TCFD to gear up for compliance.
The inevitable emergence of regulations in the next five to ten years will catalyze widespread ESG integration. This external impetus will usher in a new era of ESG awareness and practice, transforming companies' approaches to sustainability. Navigating this and anticipating regulatory shifts will pave the way for ESG's evolution into an integral aspect of business strategy.
More is more when it comes to transparency
Transparency is a key value for us. The fine balance between how much to disclose and what to hold requires careful navigation. I tend to lean towards more transparency, ensuring relevant data reaches our stakeholders, from shareholders to customers. Responsible disclosure is our aim, and we believe in sharing as much relevant information as possible. So far, the company's response has been encouraging, backing our pursuit of greater transparency.
As Olo navigates the ESG landscape as a newer public company, our commitment to internal drive, compliance, and transparency serves as our compass. We're moving forward with our eyes set on a horizon where ESG is deeply embedded in our operations, guiding our journey toward a sustainable and impactful future.
Unpacking the cloud conundrum — AKA how we navigate ‘E’ as a tech company
Being a SaaS company in this landscape presents unique environmental challenges. A major challenge lies in the realm of cloud usage, a cornerstone of our platform. It's a double-edged sword, offering efficiency but demanding scrutiny. The solution lies in fostering a robust partnership with cloud providers who share our environmental goals and optimizing our operations to minimize the carbon footprint of our services.
First, carefully consider your cloud provider. Our partner network contributes significantly to our emissions. We're exploring ways to collaborate with cloud partners that are working to reduce emissions by evaluating their environmental strategies. As part of our vendor onboarding, we're surveying partners about their environmental and social programs. Armed with this data, we're on a journey to align our partnerships with our sustainability goals.
Second, integrate environmental impact assessment into your product and service development cycle. Olo’s technology team is always looking for ways to streamline our platform and products, optimizing their efficiency and lessening the load on servers. It's a fine balance between innovation and environmental responsibility.
The secret sauce = external expertise
At Olo, my role is quite dynamic — I've essentially built up our ESG program from the ground up. That means handling everything related to social impact, environmental sustainability, and governance activities that resonate with Olo's mission. So, while my role is essential to drive our ESG efforts forward, I can’t do it alone – the support and expertise of external partners like qb. have been invaluable. Leveraging their vast experience in the ESG landscape has not only bolstered my voice but also added weight to our initiatives. The collaboration between our internal expertise and external insights creates a powerful synergy that guides us in the right direction.
As we continue to refine our ESG efforts, Olo is committed to maintaining the balance between ambition and realism, dedication and collaboration, and the strategic interplay of internal and external expertise. Through this harmonious blend, we're advancing our ESG efforts and shaping a more sustainable future for Olo and beyond.
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