Diane Zandee MSc RC is pursuing her PhD at Nyenrode Business University. She is researching the financial and accounting barriers in shaping the circular economy. Diane is doing her PhD at the Nyenrode Expertise Center Entrepreneurship, Governance & Stewardship, but is affiliated with the Accounting, Auditing and Control expertise center for the program at the RC program. What made her catch the ‘sustainability bug’? Diane: “After completing my business administration studies, I found my way into the world of consulting. My focus was on the intersection of management and control within organizations. However, I soon realized that I wanted to deepen my knowledge in the field of strategic steering of organizations, which is closely linked to finance. Therefore, I decided to pursue further studies to become a Register Controller in Rotterdam. Soon after I completed my studies, I was recruited by Eneco. At that time, Eneco was undergoing a major shift towards energy transition, with sustainability being at the forefront of its mission. I played an active role in the renewal process for a total of 10 years, during the last 5 of which I was responsible for procurement. My main focus was on the strategic positioning of sustainable procurement, for which I invested significant time and effort to develop my expertise in this area. I took various courses and really delved into the subject matter. Ultimately, I realized that the sustainability path was my true calling and I decided to make it my real mission.”
‘A complicated business case’
Diance describes her chosen path as a complicated business case. “For my work, I engaged in discussions with major suppliers of Eneco to explore ways in which we could transition to more sustainable options together. It was a challenging and demanding task, and I discovered that pursuing sustainable practices doesn’t always align with traditional linear thinking. As a company, you must be genuinely committed to investing in transforming the corporate culture. It takes persuasion, time and patience to rally as many people as possible towards a common goal.”
After 10 years at Eneco, Diane chose to pursue an independent career path. In this capacity she was engaged in several projects, including a role at NS and an ad interim position at Schiphol Airport. Meanwhile, her search for organizations that placed a high priority on sustainability continued. “My goal is to establish a link between sustainability and finance within an organization,” she explains. “I’ve noticed that the finance department isn’t always logically engaged in this. In fact, sustainability and finance can sometimes even be at odds. That’s why I’m glad that my passion lies in sustainable practices now, I know exactly what I’m striving towards.”
People, planet, profit
After Eneco, Diane also took a Corporate Social Responsibility (CSR) course, which provided her with a completely new network. She outlines, “a truly healthy organization has found a balance in earning fairly, working fairly and treating people fairly. Sustainability and profitability may well be mentioned in the same sentence.” Despite working with larger organizations and several social entrepreneurs, Diane still didn’t have the answers she was looking for and decided to apply to Nyenrode Business University to pursue a PhD (scheduled for completion in late May 2023). Her research focuses on identifying elements that help companies make the transition to the circular economy and the obstacles that exist from an accounting perspective in the current way of working. Think of elements such as circularity of raw materials, reduction of raw materials, reduction of CO2 emissions, recycling, re-use and new ways of cooperation within supply chains and new business models. “I want to make it clear to the Netherlands that sustainable work does not automatically mean more expensive work. Look at the bigger picture, those who save on sustainability will ultimately face the costs in other areas either today, or in the future, when our succeeding generations face the consequences.”
Working with Salacia’s ESG module in training
Starting in September, the Register Controller course at Nyenrode begins with 16 lectures on sustainability. “This really makes a statement for Nyenrode,” says Diane. “Sustainability is going to be one of the main focuses of this course. With other business models being rolled out and new positions emerging within value chains, the work of controllers within organizations is also changing. By collaborating with Salacia on an ESG module within the course, students will learn how to set up carbon accounting. Seminars are already taking place in May and June, partly online and partly offline for graduating controllers and accountants. During these sessions, we will guide them in setting up and maintaining a CO2 accounting system, teach them the necessity of it, and update them on the latest sustainability laws and regulations. The best part is that these trainees are already working, so they can apply their newly acquired knowledge right away.”
According to Diane, there is more to it than just numbers. “We aim to bring about a change in behavior using data-backed evidence to ensure that -data driven- sound choices are made. People who start working with this need to become resilient. How do you deal with resistance within your company? How do you motivate people in your organization? Transitions to sustainable practices can be difficult, as with most significant changes. Therefore, it is crucial to have a clear end goal in mind. Know what you are working towards and what you are doing it for. Embrace the bigger picture.”
