Antea Group presented on monetizing and quantifying sustainability investments and initiatives at the 2016 Sustainability Leadership Forum. We appreciated the opportunity to discuss the Monetization Working Group (cofounded by Fundaciรณn FEMSA and Antea Group) and hope those who attended found value in the discussions on monetizing sustainability. It is a great challenge and we feel fortunate to be able to work with so many leading organizations who share Antea Groupโs interest in removing this obstacle to better, more sustainable business decision-making.
2. โ37%of CEOs said a lack of clear link to
business value was a critical factor
deterring faster action on sustainabilityโ
-
The UN Global Compact-Accenture CEO Study on Sustainability 2013, September 2013
3. โIt is not unreasonable for business leaders
to want a positive return on their
sustainability expendituresโฆfor me, the
convenient analogy is advertisingโฆโ
Sustainability a CFO Can Love, Harvard Business Review, April 2014
4.
5. 2 Minutes On Monetization
SUSTAINABLE LEADERSHIP FORUM
4Monetizing SustainabilityLink to Video: http://us.anteagroup.com/en-us/services/sustainability-consulting/accounting-sustainability-aa4s
6. Our Purpose
Accelerate progress by removing obstacles to better, more sustainable
business decision-making
Our Plan
Focus on making key elements of sustainability more tangible, helping
to build a better case for investment
Our Program
Create a curriculum/tools that improve the monetization and business
case development skills of those proposing and deciding on investments
in sustainability
About The Monetization Working Group
SUSTAINABLE LEADERSHIP FORUM
5Monetizing Sustainability
7. Better Business Case; Better Decisions
SUSTAINABLE LEADERSHIP FORUM
Need less advocating and
more reasons to believe
sustainability investments are
the best choice for our business
Business Strategy Leader & MWG Member
โ
โ
Articulate
Problem
Frame the
Solution
Assess
Alignment
1
3
Quantify
Value
2
4
6
Validate
Assumptions
Articulate
Needs
Provide
Clear
Plan
Measure & Report
Success
5
7
8
6
2
Monetizing Sustainability 6
8. Where Is The Value?
SUSTAINABLE LEADERSHIP FORUM
Advance Enabling Growth
Gain Market Share
Acquire New Revenue
Strengthen Saving Cash
Added Financial Flexibility
Greater Capital Productivity
Increased Employee Retention & Productivity
Protect Improved Risk & Reputation ManagementCost Avoidance
Monetizing Sustainability 7
9. Making Intangibles More Tangible
SUSTAINABLE LEADERSHIP FORUM
8
DEFINITION OF
MONETIZATION
The process of converting
or expressing a result in
terms of money or
currency
DEFINITION OF
DECOMPOSITION
Breaking an uncertain
variable into constituent
parts to identify directly
observable things that
are easier to measure
DEFINITION OF
QUANTIFICATION
To find, determine,
express or calculate (i.e.,
โmeasureโ) the quantity
or amount of something
Monetizing Sustainability
10. Decomposition
SUSTAINABLE LEADERSHIP FORUM
9
Question 1
What Drives Value In Sustainability?
Water Stewardship Question 2
In How Many Ways?
Workplace
Enhancements
Reducing Potential For Business
Disruption
Question 3
To What Degree?
Product Innovations
Reducing chance/duration of supply
discontinuities
Less Downtime
Etc. Providing new opportunities to gain
efficiency
No Stranded Assets
Etc. No Facility Shutdown
Can we now quantify and monetize business value
due to our investments in sustainability - water stewardship?
Monetizing Sustainability
11. Decomposition โ Finding The Value
SUSTAINABLE LEADERSHIP FORUM
In How Many Ways?
An Investment in
Water Stewardship Creates Value by:
1. Reducing the risk of business disruption
a. Downtime
b. Stranded Assets
c. Facility Shutdown
2. Providing new opportunities for efficiency
a. Reduce resource consumption
Monetizing Sustainability 10
In How Many Ways?
To What Degree?
12. Decomposition โ Finding The Value (cont.)
SUSTAINABLE LEADERSHIP FORUM
An Investment in
Water Stewardship Creates Value by:
1. Reducing the risk of business disruption
a. Downtime Avoid Cost by reducing the chance/duration of facility
downtime
b. Stranded Assets Avoid Cost by averting conditions where past
investments/assets become stranded
c. Facility Shutdown Avoid Cost by averting shutdown and facility closure
2. Providing new opportunities for efficiency
a. Reduce resource
consumption
Saving Cash by reducing resource consumption and all
associated costs (treatment, moving, etc.)
Monetizing Sustainability 11
Protect Strengthen Advance
13. Water Stewardship Decomposition
SUSTAINABLE LEADERSHIP FORUM
12
With support from the Monetization Working Groupโs subject matter experts we identified 6
categories of business benefits associated w/investments in water stewardship:
1. Reducing the risk of business disruption
2. Reducing chance/duration of supply discontinuities
3. Providing new opportunities to gain efficiency
4. Reducing the potential for higher costs in the future
5. Reduces the risk of business/sales loss
6. Opportunity differentiate and grow revenue/business
And 15 specific opportunities to: avoid cost; improve margins and enable revenue growth
Monetizing Sustainability
14. Decompose Any Relevant Investment
SUSTAINABLE LEADERSHIP FORUM
13Monetizing Sustainability
Workplace Enhancements Compliance Product & Packaging Innovation
Supply Chain Resiliency Alternative Energy โฆmore
15. Making Intangibles More Tangible
SUSTAINABLE LEADERSHIP FORUM
14
DEFINITION OF
MONETIZATION
The process of converting
or expressing a result in
terms of money or
currency
DEFINITION OF
DECOMPOSITION
Breaking an uncertain
variable into constituent
parts to identify directly
observable things that
are easier to measure
DEFINITION OF
QUANTIFICATION
To find, determine,
express or calculate (i.e.,
โmeasureโ) the quantity
or amount of something
Monetizing Sustainability
16. โข Look for previous experience (tap
into the institutional knowledge
base)
โข Seek out subject matter experts
(internal and external)
โข Published studies
โข Direct measurement,
observation, estimation, or
extrapolation are all possibilities
Quantification & Measurement
SUSTAINABLE LEADERSHIP FORUM
15Monetizing Sustainability
17. For Investments in Water Stewardship
Create Watershed Improvements Which Reduce Chance/Cost of Operational Curtailment or Downtime
Quantification Confidence
Source
Company
Data
Competitor
Data
Other
Research
Assumed
# of Days Curtailed/
5 yr. Period
5 75% Yes Yes
# of Relevant
Facilities
15 60% Yes
Reduces Chance of
Curtailment By
(Conservative
Estimate)
25% 35% Yes Yes
Days of Production
Not Lost
19 (5 days curtailed/period x 15 facilities x 25% reduction in chance of curtailment)
Credibility: Quantifying
SUSTAINABLE LEADERSHIP FORUM
16Monetizing Sustainability
18. Making Intangibles More Tangible
SUSTAINABLE LEADERSHIP FORUM
17
DEFINITION OF
MONETIZATION
The process of converting
or expressing a result in
terms of money or
currency
DEFINITION OF
DECOMPOSITION
Breaking an uncertain
variable into constituent
parts to identify directly
observable things that
are easier to measure
DEFINITION OF
QUANTIFICATION
To find, determine,
express or calculate (i.e.,
โmeasureโ) the quantity
or amount of something
Monetizing Sustainability
19. Monetizing: Putting It All Together
SUSTAINABLE LEADERSHIP FORUM
18
Less Business Continuity Risk From Watershed Improvements
Reduced Chance/Cost of Operational Curtailment
Number of Days Curtailed/Plant During 5 year period: 5
# of Relevant BEVCO Plants: 15
Reduces Chance of Curtailment By (Conservative
Estimate): 25%
Days of Production Not Lost: 19
Avg EBITA Per Day/Plant: $103,000
Days of Production Not Lost: 19
Potential Value Of Reduced Curtailment (USD): $1,900,000
Monetizing Sustainability
20. Monetizing: Putting It All Together (cont.)
SUSTAINABLE LEADERSHIP FORUM
19
Reduced Potential For Higher Future Costs - Reputational Enhancement - From Proof
Of Water Stewardship
Less Frictional Costs Assoc w/Expansion Approvals
Get To 'Production' Faster (more return on capital)
Shortens Cycle by (Days): 30
Relevance (#of Facilities) Across Operations Over 5 yr Period: 10
Days of Production Gained: 300
EBITDA/Day (For All Production) $103,000
Typical % of Production Represented By Expansion: 15%
EBITDA/Day For Incremental % of Production Gained: $15,450
Days of Production Gained: 300
Potential Value of Less Frictional Cost In Approvals (USD): $4,600,000
Monetizing Sustainability
23. The Andean market represents an important growth opportunity for the
BEVCO company.
โข The organization operates 30 beverage/bottling plants within six
important watersheds throughout the region
โข In four of the six watersheds agricultural development and poor land
management practices represent an ongoing and ever expanding threat
to water supplies
โข Regional impacts such as forest loss, soil erosion, nutrients loading and
siltation are already overwhelming water infrastructure systems, causing
curtailments, concerning local governments and threatening future
development
โข Without change and improvements in these watersheds, increasing
negative effects on companyโs operations and its long range growth plans
are imminent
Challenge
SUPPLEMENTAL MATERIALS: EXAMPLE CASE
Monetizing Sustainability 22
24. Proposed Approach
SUPPLEMENTAL MATERIALS: EXAMPLE CASE
Criteria For A Successful Solution
โข Mitigates/minimizes water risks and ensures the company
maintains water-related benefits
โข Addresses 4 watersheds already impacted and reduces risks
in 2 others not yet impaired
โข Technically and financially feasible
Recommend Joining Existing Andean Water Fund As:
โข $5 MM (US) investment over 5 years yields substantial
business benefits (exceeding normal hurdle rates)
โข Involves collaboration w/several business partners and
stakeholders to deliver substantial environmental benefits in
all 6 watersheds where the company operates
โข Aligns w/organizationโs current strategic goals related to
investing in the regionโs economic and overall potential
ALTERNATIVES CONSIDERED
โข Switch To Groundwater Source
At High Risk Locations: Explored
this option, but technically
impractical at most locations
โข Relocate Operations: Possible to
relocate production, but not
financially feasible (mainly due
to addition product distribution
costs)
โข Company-Sponsored Source
Water Protection: Considered
applying proposed solution
concepts on our own โ could
work quicker, but likely too little
impact for anticipated cost
Monetizing Sustainability 23
25. Why Does This Make Sense For BEVCO?
SUPPLEMENTAL MATERIALS: EXAMPLE CASE
Rationale
Return on Investment
(ROI) hurdle rates
typically define a โquality
investmentโ at BEVCO
In evaluating only two (2)
potential sources of value
(likely are several more)
returns exceeded these
hurdle rates (Appendix X)
As noted, also aligns with
companyโs other strategic
pillars (i.e., collaboration
w/key stakeholders and
investment in the region)
FORECASTED VALUE FOR INVESTING IN WATER FUND
1) Business Continuity From Watershed Improvements
Reduced Chance/Cost of Operational Curtailment
Number of Days Curtailed/Plant During 5 year period: 5
# of Relevant BEVCO Plants: 15
Reduces Chance of Curtailment By (Conservative Estimate): 25%
Days of Production Not Lost: 19
Avg EBITA Per Day/Plant: $103,000
Days of Production Not Lost: 19
Potential Value Of Reduced Curtailment (USD): $1,900,000
2) Reputational Enhancement - From Proof Of Water Stewardship
Less Frictional Costs Assoc w/Expansion Approvals
Get To 'Production' Faster (more return on capital)
Shortens Cycle by (Days): 30
Relevance (#of Facilities) Across Operations Over 5 yr Period: 10
Days of Production Gained: 300
EBITDA/Day (For All Production) $103,000
Typical % of Production Represented By Expansion: 15%
EBITDA/Day For Incremental % of Production Gained: $15,450
Days of Production Gained: 300
Potential Value of Less Frictional Cost In Approvals (USD): $4,600,000
Monetizing Sustainability 24
26. Business & NGO Partners (Already Supporting The Fund)
โข Current agricultural ingredient supplier relying on Fund to help improve groundwater recharge in one
watershed, with BEVCOโs commitment to fund this would likely be expanded to other watersheds
โข NGO partner on other sustainability initiatives has a lead role in modeling sediment loads, nutrient
pollution and their results show that with expanded investment the Fund could achieve double digit
reductions in nitrogen pollution and sediment loads in the four challenged watersheds where BEVCO
operates
Water Utilities/Providers
โข The reductions above would save โ $0.5MM (US) per year in treatment cost in each basin and reduce
need for substantial capital outlays for additional infrastructure, reducing government interest in
limiting growth
Local Communities
โข In addition to restorative environmental benefits anticipated, local farmers and landowners that abide
by restrictions designed to protect the watershed will be compensated, further advancing economies
in the region
Benefits For BEVCOโs Key Stakeholders
SUPPLEMENTAL MATERIALS: EXAMPLE CASE
Monetizing Sustainability 25
27. Important Assumptions & Risks
SUPPLEMENTAL MATERIALS: EXAMPLE CASE
Key Assumptions Associated Risks Relevant Mitigation Strategies
Environmental benefits forecasted
will be realized
Failure to reduce/reverse negative
env. impacts may affect participants
reputation as water stewards,
placing forecasted business benefits
at risk
BEVCOโs internal experts engaged/
involved with Fund technical
oversight; also requiring annual
โhealth of the watershedโ status/
trend reports
Key stakeholders, especially water
suppliers will recognize and take
into account BEVCOs interest in
water stewardship
Authorities may curtail company
production or delay expansion plans
regardless of BEVCOs Water Fund
participation or stewardship efforts
Preliminary meetings indicated
support from water suppliers in all
watersheds given mutual interests
in improving env. conditions; also
annual validation meetings planned
Other investors will satisfy their
commitments to the Water Fund on
schedule for the duration of efforts
Due to unforeseen economic or
other conditions, one or more
investors default on their
commitments to the Fund
Investor Agreement includes
โbackstop default provisionsโ from
multilateral financial institution
supporting the Fund
BEVCO committed to pursuing
market growth opportunities in the
region for the duration of the Water
Fund commitment (5 years)
Lack of interest in the region
reduces value of benefit realization
Confirmed market commitment at
Q2 Executive Leadership meeting;
continue monitoring via routine
engagement with BEVCO leadership
Monetizing Sustainability 26
28. Investment Details
SUPPLEMENTAL MATERIALS: EXAMPLE CASE
$5 MM Investment
โข Amount correlates to corporateโs โcost of effective water stewardshipโ model
incorporating BEVCOs 5-yr forecasted water consumption (less โin-kindโ labor
provided to support Fund oversight/participation)
โข To be paid annually (for 5 years) in equal installments by 1 March, following
publication/presentation of the โhealth of the watershedโ status/trend report
โข Legal has confirmed funds can be sourced from company Foundation
Use of Funds
โข To be directed by Fund technical steering committee (BEVCO has 2 members
from EHS staff โ BEVCO VP already approved) via annual workplan
โข Use of funds likely similar to ongoing activities that include, but are not limited
to: reforestation; protected area management; conservation and restoration of
riparian areas; silvopastoral systems; agricultural best practices education; etc.
Monetizing Sustainability 27
29. Deployment Plan & Roadmap
SUPPLEMENTAL MATERIALS: EXAMPLE CASE
Schedule
Major
Activities
Year 1 Year 2
Beyond
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Key
Milestones
Resourced
Water Fund
($1MM)
Technical
steering
committee
meeting
Technical
steering
committee
meeting
Annual
workplan
issued
Resourced
Water Fund
($1MM)
Technical
steering
committee
meeting
Technical
steering
committee
meeting
Annual
workplan
issued
Anticipate similar activities
and cadence
Communication
Plans
Health of
the
Watershed
reports
published
Progress
reported in
BEVCO
annual
report
Foundation
BOD Update
Health of
the
Watershed
reports
published
Progress
reported in
BEVCO
annual
report
Foundation
BOD Update
Anticipate similar activities
and cadence
Performance
Monitoring
Annual
validation
meetings
w/Water
Suppliers
Assess Fund
progress โ
risk
mitigation/
benefit
realization
Annual
validation
meetings
w/Water
Suppliers
Assess Fund
progress โ
risk
mitigation/
benefit
realization
Anticipate similar activities
and cadence
Monetizing Sustainability 28
30. Recap
SUPPLEMENTAL MATERIALS: EXAMPLE CASE
โข Without change and improvements in the watersheds where the
company operates, increasing negative effects on manufacturing
and long range growth plans should be expected
โข While a number of alternatives were considered, it is
recommend BEVCO join the Andean Water Fund, requiring a $5
MM (US) investment over 5 years
โข This investment is anticipated to yield substantial business
benefits (exceeding normal hurdle rates) and is aligned with
other company strategic efforts
โข Several of our key partners already participate in the Fund, and
expect similar benefits as do other important stakeholders
โข Assumptions, risks and plans have been analyzed, compiled and
communicated signaling organizational readiness for this effort
โข First indication of commitment to the Water Fund due in 30 days
Accountable Team
Julia Ramirez
BEVCO VP of EHS & Sustainability, executive
sponsor with overall accountability for
investment performance
Ricardo Reyes
BEVCO Env. Director, initiative manager and
lead technical representative with Water
Fund
Juan Condato
BEVCO Env. Manager โ Water, supports Mr.
Smith
Susan Carlos
Foundation Economist, will serve as finance
support and management
Monetizing Sustainability 29
31. Contents
โข Solution Alternative Analyses
โข Recommend Solution: Technical Viability Assessment
โข Investment Cash Flow Projections
โข Andean Water Fund Historic Performance
Appendices
SUPPLEMENTAL MATERIALS: EXAMPLE CASE
Monetizing Sustainability 30
32. Appendix X: Investment Cash Flow Analysis
SUPPLEMENTAL MATERIALS: EXAMPLE CASE
PROTECT: Relevant Cost Avoidance Benefits Category Year 1 Year 2 Year 3 Year 4 Year 5
5-Yr Proj
Benefit
1 Production Losses Averted Business Continuity $95,000 $190,000 $380,000 $380,000 $380,000 $1,425,000
2 Avoid Reputation Damage Reputational Mgt -
3 Reduced/Eliminate Response costs Risk Mgt -
4 Avoid/Minimize Collateral Damage Cost Risk Mgt -
5 Avoid Escalating/Volatile Resource Cost Business Continuity -
Total Cost Avoidance Benefit: $95,000 $190,000 $380,000 $380,000 $380,000 $1,425,000
STRENGTHEN: Relevant Cash Savings Benefits Category Year 1 Year 2 Year 3 Year 4 Year 5
5-Yr Proj
Benefit
1 Less Frictional Cost Assoc w/Expansions Capital Productivity $460,000 $920,000 $920,000 $920,000 $920,000 $4,140,000
2 Reduced Resource Consumption Capital Productivity -
3 Less Pre-Treatment Needed Capital Productivity -
4 Reduced Future Capital Cost Financial Flexibility -
5 Employee Engagement Benefits Emp. Productivity -
Total Cash Savings Benefit: $460,000 $920,000 $920,000 $920,000 $ 920,000 $4,140,000
Investment Cost Summary Category Year 1 Year 2 Year 3 Year 4 Year 5 5-Yr Proj Cost
1 Watershed Conservation Practices Inc. in Water Fund $0
2 Landowner Compensation Inc. in Water Fund $0
3 Training, Guidelines, Best Practice Sharing Inc. in Water Fund $0
4 Water Fund Participation (2 FTE @ 10%) Water Fund Element $40,000 $40,000 $40,000 $40,000 $40,000 $200,000
5 Water Fund Contributions Conservation $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $5,000,000
Total Cost: $1,040,000 $1,040,000 $1,040,000 $1,040,000 $1,040,000 $5,200,000
Cash Flow Forecast: $(485,000) $70,000 $260,000 $260,000 $260,000 $365,000
Hurdle Rate: Net Present Value > 0: $185,000 PASSED
Hurdle Rate: Internal Rate of Return >15%: 18% PASSED
Assumptions Notes
๏ท Discount Rate: 8%; Finance Rate: 8%; Reinvestment Rate: 8%
๏ท Gradual ramp-up of benefit realization as indicated
Gray shaded areas represent additional possible benefits not estimated at this time
๏ Back
Monetizing Sustainability
33. Letโs Try To Quantify
SUPPLEMENTAL MATERIALS: EMPLOYEE ENGAGEMENT DECOMPOSITION, QUANTIFICATION, MONETIZATION EXAMPLE
32
Can an investment in sustainability help engage
our talent by increasing employee retention for
those aware and/or involved?
โข Has it ever been measured before? Yes
โข Is there little data? Actually, thereโs quite a
bit available
โข Is it precise enough? Itโs certainly more
precise than no data
โข Can I afford to collect the information? Is a
couple hours on Google too much
Monetizing Sustainability
34. Past Studies Start To Answer The Question
SUPPLEMENTAL MATERIALS: EMPLOYEE ENGAGEMENT DECOMPOSITION, QUANTIFICATION, MONETIZATION EXAMPLE
33
To What Degree?
One study indicated that
employees who had
been engaged in a
sustainability initiative(s)
were less likely to
consider leaving the
company, in this case
โ12% less likely 3 years
after that experience
Source: Corporate Social Initiatives &
Employee Retention, C, Bode, et. al., INSEAD,
2014
Retention Effect of Participation in a Corp. Social Initiative (CSI)
โ12%
difference
Monetizing Sustainability
35. Now We Are Getting Somewhereโฆ
SUPPLEMENTAL MATERIALS: EMPLOYEE ENGAGEMENT DECOMPOSITION, QUANTIFICATION, MONETIZATION EXAMPLE
34
Assuming thereโs reasonably comparability
and confidence in the research, we can now
say investments in certain sustainability
initiatives:
1. Should create value for the organization
2. Through workplace enhancements
3. By engaging our talent
4. Which results in increasing employee
retention
5. By โ12% for those aware and/or involved
in such efforts
for every
100 EMPLOYEES
engaged
ยฑ12 will be less
likely to consider
leaving
Monetizing Sustainability
36. Quantification To Monetization
SUPPLEMENTAL MATERIALS: EMPLOYEE ENGAGEMENT DECOMPOSITION, QUANTIFICATION, MONETIZATION EXAMPLE
35
Once again, some basic
research should yield a
way to translate the
quantified impact into a
monetized impact โ in
this case weโll choose
โ20% as the average
cost of replacing an
employee
Note: Some estimate this value as high as 200%,
but most use a number between 10%-30%
Source: There Are Significant Business Costs to Replacing Employees, H. Boushey, et. al.,
Center for American Progress, 2012
Monetizing Sustainability
37. Putting It Altogetherโฆ
SUPPLEMENTAL MATERIALS: EMPLOYEE ENGAGEMENT DECOMPOSITION, QUANTIFICATION, MONETIZATION EXAMPLE
36
Decomposition
POTENTIAL RETURNS FOR INVESTING IN SUSTAINABILITY
Workplace Enhancements โ From Greater Engagement of Talent
Reduced Employee Turnover/Replacement & Assoc. Costs
Quantification
# of different employees engaged by the sustainability initiative per year 500
Duration of initiative (years) 5
% of employees less likely to leave as they are aware and/or involved in the
initiative (15% annual turnover without program)
2%
# Of Employees Less Likely To Leave 50
Monetization
Cost of employee turnover (% of annual salary) 20%
Average salary of engaged employees ($) $50,000
Total Value Created Over 5 Year Period Due To Reduced Employee
Turnover/Replacement
$500,000
Monetizing Sustainability
38. Sources of Business Benefits/Value
SUSTAINABLE LEADERSHIP FORUM
Advance Growth
Gain Market Share
Acquire New Revenue
โข Improved customer trust, loyalty and satisfaction?
โข More return business/repeat customers?
โข Innovation leading to competitive advantage?
โข Enhanced ability to enter new/changing markets?
โข Improvements in pricing power?
โข New or expanded sources of revenue?
Strengthen
Margin
Improvement
Added Financial Flexibility
Greater Capital Productivity
Increased Employee
Retention & Productivity
โข Greater operational and supply chain efficiency?
โข Reduced resource consumption?
โข Improve business processes?
โข Enhance product development?
โข Greater ability to attract/retain employees?
โข Higher employee productivity?
โข Reduced cost of capital, lower risk premiums?
โข New financing options?
Protect
Improved Risk & Reputation
Management
โข Reduce business, legal and operational risk?
โข Enhance business continuity and resilience?
โข Minimize future risks?
Cost Avoidance
Monetizing Sustainability 37
39. About Antea Group
SUSTAINABLE LEADERSHIP FORUM
Antea Group is an international environmental
consulting and engineering firm specializing in full-
service solutions in the fields of environment,
infrastructure, urban planning and water, with
annual revenues exceeding $2B.
With our Inogen Associates we have more than 3,500
employees in over 100 offices around the world, we
serve clients ranging from global energy companies and
manufacturers to national governments and local
municipalities.
Monetizing Sustainability 38
40. BETTER BUSINESS,
BETTER WORLDโ
North American Operations Center
5910 Rice Creek Parkway, Suite 100
St. Paul, MN 55126, USA
800 477 7411 or +1 651 639 9443
European Operations Center
Rivium Westlaan 72
2909 LD Capelle aan den Ijsse
Postbus 8590
3009 AN Rotterdam, The Netherlands
+31 (0) 10 235 17 45
Latin America Operations Center
Calle 35, No. 7-25 Piso 12
Bogotรก, D.C., Colombia
+57 1 327 6300
For additional information contact:
John Platko (john.platko@anteagroup.com)
Michael Maggio (mike.maggio@anteagroup.com)
www.anteagroup.com