Meet Dr. Richard Lu, President and CEO, SolarBank Corporation. He has a unique career that started in medicine and transitioned to sustainable energy development and distribution. His career includes achievements in improving environment, health and safety for workers such as in a fishing village in Nova Scotia to leading environmental and technology initiatives to reduce carbon emissions. Richard is committed to sustainability and founded SolarBank Corporation (NASDAQ: SUUN), which is focused on renewable energy solutions and carbon-zero electricity.
What was your first job and what did you learn from it?
From an early age, I knew I wanted to be a doctor, so my first real job was as an occupational physician. I attended one of the top medical schools in China and soon after, was working with colleagues at the National Institutes of Health in Washington, D.C., the leading organization for medical and health research. My focus was on making work environments safer, understanding that workers are often exposed to hazardous conditions.
If you think back on leaders who inspired you in your career or leadership style, who were they and why were they inspiring?
Dr. Norman Bethune, the famous Canadian doctor, inspired my decision to pursue medicine. He was a staunch advocate for universal healthcare, a political activist, and a frontline trauma surgeon who saved countless Chinese lives during the war with Japan in the early 1930s. His dedication to helping others left a lasting impression on me.
Throughout my career, I’ve been fortunate to work with and learn from remarkable leaders who shaped my ability to run businesses and lead people. Robert Schad at Husky Injection Molding Systems hired me to make operations more environmentally friendly. Jim Schultz at Enbridge encouraged me to investigate the impacts of climate change and develop strategies to ensure the safety of critical infrastructure. Courtney Pratt at Toronto Hydro also influenced my journey.
These leaders share a common trait: they are purpose-driven, caring deeply about people and the environment. I feel privileged to have worked alongside them.
What motivates you every day?
We all have a limited time on this earth, and so I want to give it my best every day. We’re saving the environment and helping people, and that drives me to give my all. Our employees, stakeholders, and communities are counting on us, and together, we’ve made a real difference. We worked with Ontario government to introduce the Green Energy and Green Economy Act in 2009, and we played a key role in Ontario’s Conservation and Demand Management program and the Feed-In-Tariff (FIT) program. These efforts brought cultural and environmental changes that have made Ontario a better place for its citizens.
What do you want to change in the world and why?
I want to reduce carbon emissions and decarbonize energy production and transportation. While humanity has achieved unprecedented "wealth," much of our infrastructure is aging, and the demand for power is rising rapidly. We estimate that in 25 years, energy production will need to quadruple to meet global needs. To address this challenge, we must lead in energy conservation, clean energy development—such as solar, wind, and hydrogen—and advance battery storage solutions.
As we move forward, we need to have the freedom to imagine and determination to decarbonize.
What is the purpose and vision of SolarBank Corporation? And how has been clear about your purpose and vision benefited you and your company?
To deliver carbon net-zero energy, one kilowatt at a time, powered by the sun.
We create value for our shareholders and stakeholders by driving climate-friendly environmental improvements. People choose to work with us because they align with our vision of providing low-cost, environmentally friendly energy. As a former physician, I deeply care about the well-being of our team, and I see the environment as a vital component of health and wellness.
What one piece of advice would you give other CEOs and leaders regarding leading with purpose?
Lead with purpose. While purpose may look different for everyone, being intentional in our actions, words, and work allows us to stay the course, achieve results, and create lasting value alongside sustainable environmental betterment.
What one question would you like to ask other purpose-led CEOs?
How do they create a productive team that delivers on the purpose of the organization?
One question from the CEO we interviewed before you, Michelle Capobianco, President & CEO, Pancreatic Cancer North America.
Looking back in your current position, what would you have done differently - from a strategic perspective - in your role as CEO?
When I was with Husky, we focused extensively on leadership development. Through that process, I learned that trying to change people is unproductive. Instead, we need to hire and retain individuals who share similar values to deliver on the purpose. This is what matters most.
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