Presentation:

Sustainability-driven Asset Management presented by Tom Smith, US IAM Vice President and University of Wisconsin-Madison Emeritus.

Sustainability is a prime global issue, and virtually every organization in the US has a sustainability committee, sustainability office, or even a Chief Sustainability Officer. Yet asset management's involvement in sustainability issues is relatively low. Significant publications from ISO, the World Economic Forum, the UN, and the International Sustainability Standards Board do not mention Asset Management as part of the solution.

As members of the asset management community, we have an important role to play in promoting sustainability in all its dimensions - environmental, social, and economic. Engaging in these efforts can bring both personal and organizational benefits and give us the satisfaction of making a meaningful impact in the world. However, achieving these goals requires a focused strategy, effort, and a deep understanding of the issues at hand.

It also requires understanding and addressing core sustainability demands and participating in the forums where they are managed, which are often outside of the typical asset management forums and outside of the comfort zone of those in asset management.

A transition from an inward focus on assets and asset systems to the outcomes of creating and operating assets is required.  Understanding and managing the asset lifecycle must be preserved in this transition, but more is needed.

We will approach this from the perspective of asset management outcomes and stakeholder reaction to these outcomes.  This stakeholder reaction penetrates directly into the C-Suite and clearly shows up in executive priorities.  The most used models in the asset management and sustainability communities will be used to show where the two communities agree and how asset management can expand its influence.

Agenda:

1. Welcome: (5 min)
   1. Mark DeClercq, Chair
   2. Jon Schwichtenberg, Laith Alfaqih and Margaret Gadzic, Co-chairs

2. IAM : (10 min) Announcements
   1. IAM-USA National Branch and Annual General Meeting
      • June 20, 2024
      • Times:
        1. 11:00 am - 1:00 pm Pacific
        2. 12:00 – 2:00 pm Mountain
        3. 1:00 – 3:00 pm Central
        4. 2:00 – 4:00 pm Eastern
      • this will be a hybrid in-person location for our Branch. The first 1.5 hours will be everyone together and the last 30 minutes for those in-person only.
   2. Earl Hill - Information/Update from the Society of Maintenance and Reliability Professionals
      • The IAM and SMRP have reciprocal memberships. Earl will provide a summary of the highlights from their annual conference held this past February.
   3. MIC – Michigan Infrastructure Council highlights – Exciting pathway forward with a State Infrastructure Long-term Strategy

3. Presentation: (30 min)

Sustainability-Driven Asset Management by Thomas W Smith, FIAM, University of Wisconsin-Madison Emeritus

4. Discussion: (25 min)
   1. Presentation Q&A
   2. Group discussion on sustainability and Asset Management System topics.

5. USA Academia Committee & Survey (10 min)
   1. Mark will provide an overview of the survey that is ready for distribution to public institutions in the US.
   2. Data debrief, panelist, and interaction session at the IAM NA Conference in Denver.
   3. Feedback welcomes and any volunteers for committee strategy.
6. Announcements: (5 min)
   1. Future Meetings:
      • IAM National Branch Meeting, June 20, 2024.
      • IAM North American Asset Management Conference, Denver CO, The Westin Hotel, October 21-24, 2024.
      • Schedule for dates and topics of next 3 Great Lakes Branch meetings.
   2. Announcements from members

7. Meeting Adjournment:

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