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Hello and welcome to Modern CEO! Im Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages ofInc.andFast Company. If you received this newsletter from a friend, you cansign up to get it yourselfevery Monday morning. It’s a tough time to be in the business of environmental sustainability. Earlier this month, seven of the worlds 10 largest countries missed a United Nations deadline for submitting updated emissions-cutting plans, according to Bloomberg. Starting late last year, financial institutions such as Goldman Sachs, Wells Fargo, Citigroup, and others left the Net-Zero Banking Alliance, a coalition of companies committed to reducing their carbon footprints. These moves and many others come as President Donald Trump and his appointees seek to eliminate federal government programs that tackle global warming. Even so, Jonquil Hackenberg, CEO of leading circular economy charity Ellen MacArthur Foundation, is navigating this new world with a mix of optimism and pragmatism. The circular economy is a system where materials are recycled, refurbished, reused, or composted and where farming is designed to increase biodiversity. In an exclusive interview with Modern CEO, Hackenberg underscored the foundations commitment to addressing global challenges such as climate change, pollution, and biodiversity loss. The circular route to waste reduction A recent example of the foundations work is the Big Food Redesign Challenge, an 18-month project aimed at helping the food sector design environmentally friendly products. Earlier this month, the foundation showcased 141 products by 57 organizations, including Nestlé and grocery chain Waitrose & Partners, which use circular economy and regenerative agriculture principles. In addition to such programs, Hackenberg also talked about the role circularity plays in non-environmental issues like supply-chain resiliency. We are looking at critical raw materials through the lens of material security, which plays very well into the new administration and beyond, she says. A sustainable supply-chain solution Studies suggest that recycling or reuse of materials can help offset disruptions in supply chains due to shortages or geopolitical factors. The European Unions Joint Research Center, for example, recently issued a report examining how boosting circularity, along with other approaches, could help reduce Europes dependency on China, Japan, Russia, Kazakhstan, Saudi Arabia, and Ukraine for materials used to make titanium metal products. Companies in the EU use titanium primarily in planes but also in cars, robots, and 3D printing. Hackenbergs background makes her well-equipped to make the practical case for the foundations mission. She previously served as CEO of Eunomia Research and Consulting, a social-environmental consultancy, and before that was global head of sustainability and climate response at PA Consulting. My experience is really in large-scale transformation, she says. The move to a circular economy is the largest-scale transformation were going to face. Indeed, despite early gains75 countries have circular economy roadmaps and 55% of businesses, including IKEA and Dell, have made commitments to circularitythe movement appears to be stalled. The most recent Circularity Gap Report found that just 7.2% of materials that entered the economy in 2023 were secondary, or non-virgin, down from 9.1% of materials in 2018. Circularity logic Driving further transformation may require highlighting the way circularity can support local economies, for example. If you are looking at governments that are perhaps more protectionist, who are asking, How do I help and protect our own economy? Its a ripe playing field for a circular economy to create new value opportunities and new jobs without global inputs, Hackenberg says. Hackenbergs broad framing of the benefits of circularity mirrors the way other nonprofits and many businesses are trying to reposition themselves in the Trump era. Fast Company recently reported on how cleantech startups have started emphasizing their role in national security. But the Ellen MacArthur Foundation isnt walking back its commitment to climate and biodiversity issues. We need courage and leadership to stay the course, she says. Politics will come and go, but facts back up that we are scraping at the barrels of planetary boundaries. Eliminating waste on our streets and in our oceans is a nonpartisan issue. How is your company handling topics under fire? Is your company reframing the way you talk about environmental sustainability, inclusion, or other topics that are under fire? Send your comments to me at stephaniemehta@mansueto.com. Id like to share some of your insights in an upcoming newsletter. Read more: virtuous circles Fast Companys best circular design of last year How HP is using a supply reset to advance the circular economy Meet Chairish, an 11-year-old, used-furniture marketplace and an Inc. Best in Business honoree
Category:
E-Commerce
With enrollment on the rise, the California Polytechnic State University in seaside San Luis Obispo has found itself staring down a familiar California problem: a severe housing shortage. “Cal Poly’s located in this beautiful town of San Luis Obispo. That is one of our competitive advantages, but it also means that everybody else wants to live here, too,” says Mike McCormick, vice president of facilities management and development at Cal Poly, San Luis Obispo This desirability poses a problem for the university, which has seen enrollment grow in recent years, with trendlines suggesting an additional 4,000 students by the end of the decade. “It’s really hard for us to grow without providing housing,” McCormick says. “The city simply can’t absorb any of it. So that’s what’s driving our program.” That’s led the university to launch an ambitious, fast-paced, and possibly precedent-setting dormitory building project that will add 4,200 beds to the university’s campus housing inventory within just four years. The housingnine buildings primarily made up of six-bed, three-room suiteswill be built through modular construction inside a factory in Los Angeles. It will be the largest modular housing construction project in the country. [Image: courtesy Steinberg Hart Architects] The university partnered with FullStack Modular, a company specializing in industrialized construction that has previously built modular apartment buildings up to 15 stories tall, to produce the much-needed housing units quickly and affordably. Construction will commence later this year at FullStack Modular’s Los Angeles factory, and the first of nine new dormitory buildings is scheduled for occupancy in Fall 2026. FullStack Modular emerged in 2016 after a major 15-building modular construction project connected to the Barclay’s Center arena in Brooklyn faltered. Just one of the project’s buildings, a 32-story tower, was completed. It was, at the time, the tallest modular project in the world. Roger Krulak, an executive who worked on that project, created FullStack Modular and bought out the factory and the production process, and has chipped away at making a market for factory-built buildings ever since. [Image: courtesy Steinberg Hart Architects] As the largest modular construction project in the country, the 4,200-bed project now underway in California represents a high-profile test of the modular approach. It’s also a no-brainer example of how modular construction can be used to pump out a fairly cookie-cutter type of buildingthousands of dorm suitesfast and cheap. “We can predict timing and costs and repetitiveness and all of the economies of scale that you hope for in an industrialized process,” says Krulak. [Image: courtesy Steinberg Hart Architects] McCormick says the university was quick to latch onto the idea of factory-based construction for this project. That’s partly due to the lack of construction workers in the area to build a 4,200-bed project, and a lack of space to house workers who might relocate there for such a project. “Using traditional methods, we would import a workforce from Los Angeles, from the Valley, from San Francisco, and they would all be looking for housing while they’re here,” McCormick says. “That just exacerbates the problem that we’re trying to solve in the first place.” Building the project in a factory solves the workforce problem. It also brings the cost of construction down by systematizing the design into repeatable forms. “It doesn’t make sense to build this much housing and not take advantage of the repeatability,” McCormick says. FullStack Modular is currently building a prototype of the six-bed dorm suite that will make up about 80% of the project’s square footage. Krulak says it will be used to fine-tune the design before putting the factory into full production mode later this year. When underway, the process is expected to move twice as fast as conventional construction, and with much greater certainty over material and labor costs. Finding an affordable construction solution is not just a speculative real estate decision. At Cal Poly, and other universities across the country, housing is now more expensive than tuition. Modular housing could prove to be one way to increase supply and reduce costs. “The CSU is the largest university in the country. We have needs for housing all over the place,” McCormick says. “I’s a common problem, especially here in California, so we’re hoping that we create something that is absolutely transportable to other universities.”
Category:
E-Commerce
Imposter syndrome, perfectionism and people pleasing are just some of the pervasive norms weve come to acceptand even expectfrom high-achievers. And when we hear advice about how we can mitigate this internal strife, we hear phrases like fake it to you make it. All too often, the self-criticism, insecurity, and harsh self-judgement remains. Take for example Sara, a high-achieving marketing director who recently had a major campaign launch falter. When reality fell significantly short of projected targets, she immediately blamed herself. I spiraled into harsh self-criticism, working excessive hours, and neglecting my wellbeing to try and make up for what wed lost. I knew I was being too hard on myselfbut I thought if I could just push through, Id be able to salvage some success. If this sounds familiar, youre not alone. Many leaders struggle to show themselves compassion, in part due to the archaic belief that we have to push ourselves harder and harder to achieve results. As a result, we end up tying so much of our self-worth to our outputs, which is a dangerous territory. But research shows that we can achieve incredible results by cultivating self-compassion and fiercely holding ourselves accountable while being kind to ourselves along the way. Self-compassion is not weakness According to leading researcher and editor of the Handbook of Self-Compassion Amy Finlay-Jones, self-compassion is treating yourself with the same kindness you would offer a dear friend. And as Finlay-Jones explained to us, an increasing body of research shows that its crucial for effective leadership. Dont confuse self-compassion with self-indulgence or self-care. As Finlay-Jones framed it, self-compassion isnt just about being nice to ourselves. Instead, its similar to replacing self-criticism with self-understanding and acknowledging our humanity. She emphasized, Its not about letting ourselves off the hook, but about approaching challenges with a more balanced perspective, which fosters both self-kindness and a commitment to growth. Resilience through self-compassion Studies show that leaders who are self-compassionate are better equipped to handle stress, navigate setbacks. They also create a more supportive team environment. Thats because self-compassionate leaders have increased emotional regulation which reduces the likelihood of burnout and fosters work environments that are positive and nurturing. Leaders who cultivate self-compassion are also better equipped to handle setbacks and support their teams through adversity because they possess a stronger ability to take accountability for their behavior, for their lives, Finlay-Jones explained. Leaders who are highly self-critical, on the other hand, are more likely to project blame elsewhere out of insecurity and fear or failure. Reap the benefits of self-compassion When leaders show themselves a lack of compassion, like Sara did, it often leads to counterproductive behaviors and undesirable outcomes for themselves and their teams. In contrast, self-compassion can lead to the following benefits, which extends beyond the individual: Better emotional regulation: Self-compassion improves emotional regulation, which is crucial for leaders facing stressful situations. Finlay-Jones emphasized the importance of being aware of how were feeling during times of difficulty and really being curious about our emotions and our experiences. This allows leaders to manage their emotional responses more effectively, which prevents impulsive decisions. Reduced burnout and increased resilience: The relentless demands of leadership often lead to burnout. However, self-compassion acts as a buffer against this. By treating themselves with kindness and understanding, leaders can prevent the downward spiral of self-criticism and exhaustion. This allows for a more compassionate response to setbacks. Improved decision-making: Interestingly, when faced with difficult decisions, self-compassionate leaders are less likely to succumb to emotional biases and more likely to consider multiple perspectives. Stronger team dynamics and increased collaboration: By modeling self-compassionate behaviors, leaders encourage open communication, mutual respect, and a shared sense of purpose. Finlay-Jones shares that self-compassion can contribute to a leaders ability to create a culture of psychological safety where team members feel safe to make mistakes and learn from them. Enhanced ethical leadership: Self-compassion promotes ethical leadership by encouraging leaders to prioritize the individual wellbeing of their teams and make decisions based on empathy and fairness. Leaders who practice self-compassion are better at recognizing and addressing issues of injustice and inequality. 4 ways to improve your self-compassion If youre looking for ways to bolster your self-compassion and improve your leadership, you might want to consider the following practices: Cultivate mindfulness: This involves developing the ability to observe your thoughts and emotions without judgment. Recognize them as transient experiences rather than fixed realities. Says Finlay-Jones, Its about being aware of how were feeling during times of difficulty, and really being curious about our emotions and our experiences. Embrace shared humanity: An important component of self-compassion is understanding that were not alone in our struggles. On the contrary, even for leaders, setbacks and difficult emotions are a universal part of the human experience. This perspective shifts the focus from flagellating yourself with blame, judgement and even shame, to a more compassionate understanding of what youre going through. Practice self-kindness: Imagine your dearest friend, a child or another loved one. Now imagine extending the same empathy, understanding, and compassion to yourself that would extend to that person. What would that look and feel like? What language or gestures would you use to demonstrate your empathy, understanding and compassion towards that person? How might it feel to direct that language and those gestures of kindness towads yourself? Establish healthy boundaries: Many people struggle to extend kindness to themselves. The yin and yang of self-compassion, as Finlay Jones noted, recognises the need for both tender self-care and assertive boundary-setting. This requires the courage to say no to unreasonable demands. Cultivating self-compassion is not a once off, but an ongoing process that requires regular practice and self-reflection. High achievers might find it uncomfortable, but leaders who embrace self-compassion stand to enhance their wellbeing and create a more positive, supportive, and successful work environment.
Category:
E-Commerce
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