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Today’s CEO Insights: 939 words...4 minutes. Electric vehicles continue gaining
traction, re-examining DEI initiatives, and more

Today’s CEO Insights: 939 words…4 minutes.

Jim Fitterling, the CEO of Dow, Talks Sustainability, Generative AI, and More
A new CEO Perspectives episode features Jim Fitterling, the Chair and CEO of
Dow. Three insights from the conversation:

Achieving net zero: Dow is developing the world's first net-zero ethylene and
plastics facility. Once completed, Dow will retrofit the existing facility to
take its emissions to net zero. This project alone will decarbonize 20 percent
of Dow’s global ethylene capacity. Fitterling also discusses that the US should
consider putting a price on carbon, but in a way that strengthens the nation’s
competitiveness and accelerates investments.

Take caution when using AI: Controlling your company’s data is essential when
using generative AI. Companies must avoid inadvertently letting their IP slip
out and become part of the public domain—a possible unintended consequence of
trying to go broad with AI.

Driving innovation with inclusivity: Diversity has long been a focus of Dow's,
but the additional focus on inclusivity has been key to achieving greater
innovation. As Fitterling emphasizes, “I think it's difficult to be innovative
without being inclusive. We're trying to bring diverse perspectives to work on
challenging issues.”

Along with the Dow team, Fitterling is a recipient of the 2023 Distinguished
Leadership Awards from the Committee for Economic Development, the public policy
center of The Conference Board (CED).
Listen to the podcast »
Watch the webcast »

US Vehicle Electrification Is Underway—but Expect a Protracted Process with
Major Transition Risks
In 2022, the share of electric vehicles (EVs) sold in the US reached a record
high of nearly six percent. Our new study projects EV's market share will rise
steadily to reach 100 percent of new vehicles sold by 2040. However, even under
this scenario of relatively rapid adoption, 40 percent of all cars and trucks on
the road in 2040 might still be powered by fossil fuels.

A bifurcated transportation system: Americans are holding on to their vehicles
much longer than in past generations. As a result, the phase-in of
electrification will take some time—which means the US may need to support both
a rapid ramp-up in EV charging and continued investment in fossil fuel
infrastructure for decades to come.

Minimizing the risks of an extended transition period will require investments
and incentives that spur an even faster rate of EV adoption and vehicle
replacement.

Net zero? Not quite: Our model of EV adoption sees US greenhouse gas (GHG)
emissions falling by 51 percent—a dramatic drop but still far off the US goal of
net zero by 2050. Indeed, a sizable portion of GHG emissions would remain in the
absence of greater efficiencies for fossil fuel vehicles and potential adoption
of alternatives like hydrogen for hard-to-electrify vehicle segments.
Read the report »

Five Steps to Take in Re-evaluating DEI Initiatives for Legal Risk
Given the similarities between Title VII of the Civil Rights Act of 1964 (which
applies to employers) and Title VI (which was at issue in the Supreme Court’s
decision on affirmative action), companies are reassessing how to maintain DEI
as a core part of their business strategy while mitigating legal risk.

Five steps companies may wish to take:

 * Reconsider whether to continue any voluntary affirmative action programs that
   have quotas.
 * Define diversity broadly, given that a focus on race will be harder to
   justify legally.
 * Ensure all communications, including emails, avoid suggesting race is a key
   factor in hiring or board appointments, or that people who share a common
   ethnic heritage will think alike.
 * Focus on equal opportunity, such as ensuring a diverse pool of interviewees
   for positions.
 * Articulate how your DEI programs serve the company’s business goal—and be
   able to support that with data, which applies not just to DEI programs but
   ESG programs in general.

These insights stem from a roundtable discussion that brought together
executives from more than 80 firms, including partners from the law firm of
Cleary Gottlieb Steen & Hamilton LLP.

Learn about ESG Center Roundtables »

Talent Acquisition’s Role in Strategic Workforce Planning
With ongoing labor shortages and changing views of work, organizations must be
strategic about finding and keeping workers. Strategic workforce planning
identifies the talent that will be needed to achieve future organizational goals
and plans the right mix of workers to reach these goals.

Who should lead workforce planning? Talent acquisition plays a crucial role in
strategic workforce planning by identifying and attracting workers to the
organization. Historically, though, strategic workforce planning has been siloed
within different organizational units, with data on talent requirements rarely
shared in a meaningful way. By leading the process from the beginning to end,
talent acquisition can identify gaps in talent and guide the action that should
be taken.

The path forward: To gain insight into upcoming talent needs, talent acquisition
should stay tuned into their organizations’ business plans; create a partnership
with succession planning; invite employees to indicate if they are open to
moving positions through an internal talent pool; and look at retention
statistics and internal population demographics such as age to help with
forecasting.

Learn about Human Capital Center Working Groups »

QUOTABLE: How Marketers Are Learning AI
“Currently, because AI is developing so fast, it's grassroot learning…Junior
marketers are currently the super-users of AI; they’re most likely to learn AI
on work time. Senior marketers are most likely to connect with other experts
outside of their organizations. So, I think there is an opportunity for
companies to facilitate learning groups within the company and reverse
mentoring.”

— Denise Dahlhoff, Senior Researcher, Consumer Research at The Conference Board.
She joined the CEO Perspectives podcast to discuss new survey results on AI in
marketing and communications.


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