Meet Athena member Lorraine Akiba, a global ESG strategist & board leader

Lorraine Akiba is a thought leader, senior advisor, and board member lending her expertise in energy, regulatory policy, and ESG to help organizations thrive globally. A lawyer by training, she has extensive experience helping organizations identify areas of risk, navigate regulatory frameworks, and develop actionable strategies to stay nimble in an ever-changing market.

After a distinguished career in both the private sector and public service, recently serving as a public utility commissioner for the State of Hawaii, Lorraine founded her own advisory firm (LHA Ventures) and serves on several boards (including the Hawaii Medical Service Association and the Interstate Renewable Energy Council.)

Below, read how Lorraine grew her career in Hawaii, the big ESG issues keeping board directors up at night, and her advice for rising ESG and sustainability leaders.

Tell us about your executive journey so far.

I am a lawyer by training and experienced in complex commercial and business litigation and risk management. I have been a partner at major law firms in Hawaii and served in leadership positions in state government. Most recently, I was one of three commissioners on the state public utilities commission overseeing regulation of electric, gas, water, transportation, and telecom utilities.

When my term ended as a public utilities commissioner, I formed my own consultancy firm-LHA Ventures. I am now a senior policy advisor on energy and regulatory policies, also advising companies on corporate ESG and risk management.

I am an experienced board director on private and nonprofit boards, currently sitting on the Hawaii Medical Services Association board and a member of the audit committee. I also currently sit on the board and chair the governance committee of the Interstate Renewable Energy Council. I have sat on a number of nonprofits and professional organizations boards throughout my career.

What is the unique value you bring to the boardroom?

I have distinguished myself as a senior advisor, board member, and thought leader globally. I excel at helping entities identify their pressing organizational issues, deal with regulatory frameworks, and develop strategies. I am a good strategic advisor, and particularly skilled at crisis management.

There’s a lot going on in the ESG world right now. What are the big issues currently keeping you awake at night?

First are climate change impacts-that’s not good for the environment or the bottom line. It can disrupt supply chains, workforce, and critical infrastructure. As more activist investors influence board management, it is critical for organizations to undertake measurable actions to decarbonize operations and reduce environmental impacts to their supply chains.

The other key area is social. It is important in every sector that companies don’t just talk about aspirations-they must tangibly demonstrate diversity and equity. Today’s customers are prosumers and social media has become a very effective tool with boycotts of products or companies. Consciousness has been raised around justice and equity. It is a national issue that needs to be addressed.

What can women leaders who are watching these issues do to make an impact?

Women are very good at thinking strategically and accomplishing those strategic actions, because women are effective listeners and collaborators. These two skill sets are required to have strategic leadership, and to implement actions and achieve desired outcomes. Also key is being conscientious to revisit those strategic actions if they need to be revised, reset, and improved. Resilient organizations during the pandemic have been able to pivot, and women naturally have that ability. Make sure you are learning fast, adapting, and continuing to pursue best practices.

It’s interesting and important that you’re doing this work from Hawaii. What is the significance of your geographic location in the work you’re championing?

One of our governors had a vision for Hawaii being The Geneva of the Pacific. We come from an indigenous Native Hawaiian host culture with deep respect for the land, people, and community. We live on an island in the middle of the Pacific Ocean and the perspective is different. You can’t just drive across borders to the next state. When part of an island community, you have to row together in the canoe to reach your destination.

There is a very multicultural, multiethnic mix of people in our state, and that diversity brings richness. We live by the Native Hawaiian values of stewardship of land and caring for people. President Obama said being born in Hawaii affected his worldview and how he looks at things, and that’s true for everyone who grows up here.

You consult with companies during times of crisis or disruption. What are some of the common challenges companies are facing when they come to you for help?

It is dealing with change management. A business or entire industry can get disrupted by technology-for example, the utility and energy industry has been disrupted by grid-edge technology innovations that now allow customers to self-generate energy and contract with third parties for energy. It’s no longer a monopoly and centralized grid system. The industry has changed, and there is increased customer awareness.

Companies across all industries now deal with prosumers, sophisticated customers who are more aware. It’s very important to be nimble, to look at what’s happening in your business, and react flexibly and quickly. This way, you won’t become irrelevant due to your inability to respond to customer needs or changing industry demands. We’ve seen plenty of examples of this recently where successful businesses have gone out of business.

What brought you to Athena? What aspects of your membership have been most impactful for you?

One of the most valuable benefits was having a Concierge-she was just fabulous. She set up meetings with other members on similar paths who I wouldn’t have found on my own. It adds a level of priority when the Concierge says, “there’s a member who wants to meet with you, can you make some time?” I expanded my network in finance, tech, and other industry sectors through the networking.

The Salons are another great benefit. I learn about new areas that I’m not familiar with. For example, the series of speakers on the timely topic of SPACs (Special Purpose Acquisition Companies) was very informative. The CHRO series was also interesting given changing rules and regulations.

What advice do you have for rising ESG & sustainability leaders?

It’s important to understand different stakeholders and communities, and what sustainability means to them. Be sensitive to the communities you’re doing business in and also responsive to those communities. Make sure you are really accomplishing your stated goals and that your metrics are meaningfully measuring what you are attempting to do. You don’t want to get accused of greenwashing and not seriously implementing the standards, goals, and vision you articulate.

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Athena members can request to connect with Lorraine here.

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Originally published at https://athenaalliance.com on November 8, 2021.