LAPP’s sustainability approach looks a lot like a 3-legged stool, which engineers say is the most stable design for balancing upon uneven ground. LAPP’s uneven ground is the changing environment. We are faced with many strategic risks. To manage those risks appropriately and build a strong stable Plan, we need appropriate strategies for all three “legs” of the sustainability stool.
Those legs are:
The three legs of the stool are further strengthened by the braces of leadership, governance structure and strategic planning. You will notice that the governance structure brace has a crack in it. That is there deliberately to draw your attention to the risks created by our complex and inherently flawed governance structure.
You can read more information about the Board’s goal for improved governance in LAPP Renewal.
The strategies developed for the three legs of the stool are as follows:
A long-term strategy to opportunistically de-risk our assets.
A long-term strategy to reduce our discount rate to narrow the gap between it and bond yields.
A strategy to: