Livia Arrigoni

Tapping into an early passion for environmentalism, Livia advocated for sustainable practices at home as a child.

“I was probably seven years old when I started making videos commenting on river pollution. I've always felt that caring for people and our environment is fundamental to me.”

While studying for her master's degree in management and economics, Livia developed a strong interest in climate change and sustainable supply chains. “I attended courses on market failures, externalities, and their implications for society at large. At the time, stakeholder capitalism—the idea that corporations should have a purpose beyond profit—was definitely not mainstream.”

On graduating, she joined a professional services firm to expand her horizons and travel internationally. Through this experience, Livia became a certified auditor and worked in Italy, the United Kingdom, and Canada, but she was still dreaming of a career in sustainability.

Her opportunity came when she moved to Montreal ten years ago and began working on ESG and climate-related projects. “That was an interesting journey. When I started, my clients’ focus was very much on compliance and corporate social responsibility. Over time, sustainability has evolved to become a fundamental aspect of every business.”

In 2020 Livia completed an executive MBA. “Through the program, my focus shifted from compliance and reporting to sustainability strategies and a mindset of value creation."

“A good ESG strategy is influencing the ability of an organization to innovate and preserve value. In this evolving environment, enhanced market positioning, reputation, resilient supply chains, and a motivated workforce are fundamental to organizational success.”

“I think the concepts of sustainability and multi-stakeholder capitalism will evolve into an impact conversation that’s even more sophisticated than it is today. In other words, we will shift from reducing harm, risks, and negative externalities toward a mindset of positive impact.”

“Thinking about our activities as humans and consumers through the lens of our impact will drive us and organizations to make very different choices.”

When thinking of climate change and the disruption of our ecosystems, Livia finds three things that keep her motivated.

“First, we need urgent solutions! Unfortunately, we have a very limited amount of time to drive the change we need. For this reason, it is important to assist our clients in developing programs and initiatives with a real impact."

“I also think about my twin daughters who are just four years old. They remind me that this challenge is not just about us, it's about the world we leave behind and the well-being of future generations."

“Another motivation is the wonderful people I have met on this journey: my university mates, friends, colleagues, and clients. Leaders who are true believers, and who are spending much of their energy and influence to create change and accelerate solutions.”

While reflecting on climate issues, Livia mentions the concept of systemic risk. “In a nutshell, climate change is so pervasive and significant for our economies that traditional investment strategies to differentiate and reduce exposure risk won’t be effective."

“After a few years supporting large Canadian corporates, it was an interesting exercise to observe institutional investors decarbonizing their portfolios by reducing their exposure to carbon-intense assets."

“These projects made me realize that decarbonizing a portfolio of assets and loans is certainly important, but the real pathway toward decarbonization is inevitably linked to the entire ecosystem, which includes the public and private sector, capital markets, and consumers."

“Sustainable finance and the notion of impact are increasingly important for governments as well as public and private companies.”

“A wide spectrum of organizations are seeking to finance long-term investments by tying the sustainability outcomes of these projects to lower capital costs.

“To finance their transition toward a low carbon economy, organizations will then monitor and quantify positive externalities and will refine their ability to quantify environmental or social impact metrics. The difference between regular ESG performance and impact metrics is that the former is focused on the performance of the organization and the latter are focused on the externalities they generate for a broader range of interests. For example, avoided or sequestered carbon and access to equal opportunities, education, and healthcare."

“When we think of the transition to a low-carbon economy, we often refer to an equitable (or just) transition. This is because social and environmental aspects are strictly interrelated. And a successful low-carbon transformation must take into consideration the social repercussions of this change."

“When I think of this transformation, impact metrics will soon become essential for making decisions and allocating capital to the most credible projects. We are seeing organizations, investors, and the public sector elaborating their own impact and evaluation models. So ESG reporting capabilities will soon be integrated with impact considerations.”

“Definitely Robert G. Eccles , a pioneer of integrated reporting, sustainability, and the role of business in society, and Mariana Mazzucato , for her progressive views on the evolving role of capitalism in tackling complex environmental, health, and social challenges.”