Teneo’s purpose is to partner with our clients globally to do great things for a better future. It is a reflection of our own personal values and the aspiration of virtually every leader we have the privilege to counsel.
We believe the futures of our firm, our people and our planet are inextricably connected. We are committed to operating responsibly as we create long-term, sustainable growth for Teneo and our stakeholders. We are also deeply committed to helping our clients develop and execute their own sustainability efforts.
Our business thrives because our people bring diverse perspectives from different nationalities, cultures and life experiences to solve emerging and intractable problems in a dynamic and inclusive environment. We are therefore dedicated to fostering an environment of dignity and respect for all.
We are pleased to share Teneo's inaugural environmental, social and governance (ESG) report. In this report, we outline our commitment to corporate responsibility and actions we are taking to benefit all our stakeholders.
We recognize that embedding relevant ESG matters into our business strategy helps position Teneo for better risk management and supports long-term value creation. Evaluating and managing ESG issues also enables us to create better business outcomes for our clients and other stakeholders, while simultaneously having a positive impact on the world around us.
Despite recent debates around what ESG is and its value to a corporation and its stakeholders, Teneo believes that managing the risks and leveraging the opportunities of issues such as climate change, diversity and corporate governance is a business imperative.
Download the report here:
Teneo believes that positive contributions can be made to a sustainable environment through the development of business practices that aim to reduce the impact on, and use of, natural resources.
Our environmental initiatives are reinforced through the adoption and focused communication of sustainability policies, which encourage staff to support and enforce our sustainability goals. We also aim to understand climate-related issues facing the environment and the resiliency of the built environment to identify areas where we can help and inform future goal setting and targets.
Commitment to Achieving Net Zero
Teneo is globally committed to achieving net zero emissions by 2050.
Baseline Emissions Footprint
Baseline emissions are a record of the greenhouse gases that have been produced in the past and provide a reference point against which change is measured.
Baseline Year: 2021
In 2021, Teneo began a process to measure its global carbon footprint, including scopes 1, 2 and 3, to establish a baseline from which to develop strategies for emissions reduction. The analysis leading to the baseline footprint is being developed in coordination with and support from Teneo’s equity partner CVC, utilizing the services of an expert third-party GHG analytics and strategy vendor. A leading global CEO advisory firm, Teneo operates from offices leased in shared premises around the world. Data on which our baseline emissions footprint will be estimated therefore will be largely and necessarily dependent on data supplied by landlords.
We expect to work closely with our landlords in the future to deploy effective strategies for emissions reduction. In addition to office space selection and outfitting, a natural area for examination is travel for client service and development purposes. We plan to partner with our clients to develop an optimal balance for client service while limiting our carbon emissions from business travel.
Interim Emissions Reduction Targets
Teneo is in the process of measuring its global carbon footprint to establish credible and achievable targets for future emissions reduction between now and 2050. These targets will be set in line with recognized science-based good practices. Once interim targets have been established, we will develop a holistic carbon reduction plan for achieving these targets as key milestones on our journey to net zero.
This report will remain an evergreen document and will be updated when the baseline measurement process has been completed.
Existing Carbon Reduction Projects and Strategies
While the formalized sustainability journey utilizing carbon measurement techniques has only just begun, Teneo has long been conscious of the desirability of carbon reduction and has recognized its responsibility to continuously improve the sustainability of its operations.
The sustainability and energy efficiency of its largest offices has been a focus for the business. These offices utilize motion sensing technology to control and reduce power consumption, equip water conservation controls to limit water use and enforce careful and sustainable waste disposal protocols. These strategies effectively reduce consumption of energy, water and office consumables. These initiatives have been reinforced through adoption and focused communication of policies which encourage staff to support and enforce company sustainability goals.
Teneo utilizes outward-facing written policies to communicate the company’s expectations to vendors regarding compliance with standards for legal and ethical conduct. Extending those policies and practices to request larger vendors to disclose their carbon reduction plans annually is a focus for 2023 and beyond.
Teneo is a signatory to the UN Global Compact and has for several years participated in the EcoVadis sustainability assessment. These initiatives have helped shape our sustainability goals and develop channels and themes for communication of company goals to our worldwide staff. Centralized and local office working groups are being built in offices around the world in an effort to drive local practices which support the global net zero commitment.
Declaration and Sign Off
Standards to which this plan will conform will be identified upon conclusion of our baseline carbon footprint measurement and development of future emission reduction goals.
This Carbon Reduction Commitment has been reviewed and authorized by the Teneo Global Executive Committee (GEC).
DEI at Teneo
We believe that different perspectives and new ideas are essential for us to meaningfully partner with our clients globally. We are committed to investing in our people and fostering an environment of dignity and respect to create a sense of purpose and belonging for all.
We recognize that each of our employees has a wealth of experience and perspectives to draw from and that we are responsible for ensuring that all our people are, and feel, equally empowered. We also believe that improving the diversity of our workforce and providing an equitable and inclusive culture promotes strong business performance as we leverage our team members’ different skills, perspectives and experiences to deliver sound advice to our clients.
In support of these objectives, we engage in targeted action to support our people, especially those from under-represented groups, in overcoming barriers and ensuring that each person is afforded the same opportunities to grow, develop and bring their whole self to work. We are taking active steps to build a culture of thinking, acting and leading inclusively that is embedded throughout our business. We are investing in our headcount, DEI subject matter expertise and executive sponsorship of DEI ambitions in all segments of our business.
DEI Programs and Initiatives
Board Diversity Action Alliance
In partnership with the Ford Foundation and The Executive Leadership Council, Teneo founded the Board Diversity Action Alliance (BDAA) to increase the representation of racially and ethnically diverse individuals on boards of directors. The BDAA is led by Teneo Chairwoman Ursula Burns and Teneo’s Global ESG Advisory Chair Gaby Sulzberger.
Achieving gender balance is critical to our success as a business. Breakthrough, Teneo UK’s women’s development program, helps enable and support women for career success within leadership roles and provides a springboard for breaking through the barriers that exist for women in the workplace. This program offers immersive learning sessions, strengths identification, group coaching and senior sponsorship.
DEI Steering Committee
Teneo Chairwoman Ursula Burns serves as Executive Sponsor of the DEI Steering Committee, comprised of cross-functional members of Teneo’s global team. The committee is charged with charting the course for Teneo’s global DEI strategy and is addressing such issues as leadership competencies and resourcing, pay equity, benchmarking and data collection.
As part of our ongoing commitment to build a supportive and inclusive workplace culture, Teneo offers a range of DEI training programs. These include foundational programs to help define and mitigate the negative effects of bias. Specific upskilling sessions, such as Active Bystander training, address microaggressions and inspire strong allyship. We also embed inclusive leadership skills into all of our flagship leadership development programs and train hiring managers on inclusive recruitment practices.
Early Careers Partnerships
Working with our diversity partners, Teneo offers several internship programs to provide meaningful work experience to early careers talent. Interns are guided by an experienced team that provides hands-on learning opportunities as well as structured training. Each intern is supported by a mentor who takes an active role in developing their skillset. Global partners include: 10,000 Black Interns, America Needs You, College to Congress, Prep for Prep and Goldberg Scholars.
We offer comprehensive family-friendly policies and support for all parents at Teneo, with each region providing competitive policies for birthing parents, adopters and their partners. In addition, we offer a range of policies to support life events related to reproductive health and caring responsibilities.
Employee Resource Groups (ERGs)
These grassroots initiatives help inform our understanding of the diversity within our organization and shape our DEI agenda at the global and local levels.