Applications for the Rhodes Scholarship 2026 are open! Click here to learn more.

Applications for the Rhodes Scholarship 2026 are open! Click here to learn more.

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Eric Olson

Minnesota & Merton 1986

Born in Minneapolis in 1964, Eric Olson studied at Macalester College before going to Oxford to begin a second undergraduate degree in History and Modern Languages and then pursue an MPhil in Russian and East European Studies. After a period working for the US-USSR Trade and Economic Council, he moved into management consulting, serving as a Partner at Mitchell Madison Group and then at Boston Consulting Group. A growing interest in the environment led Olson to shift full-time into working with multi-national companies to improve their environmental and social impacts, with a focus on energy and climate change. He served as Senior Vice President, Advisory Services at Business for Social Responsibility (BSR), and then as Managing Director, Sustainability Services at Accenture, and now works as an independent advisor to corporate management teams, investors and public agencies on scaling climate mitigation and adaptation solutions. This narrative is excerpted and edited from an interview with the Rhodes Trust on 29 August 2024.  

‘I had to be very responsible’  

I grew up in Saint Paul, Minnesota, and my family’s ancestors were all from Scandinavia. My dad’s side of the family were farmers and mom’s family were city people from the get-go. There are lots of fun stories in our family folklore, for example, that my great grandmother ran away from Sweden after her parents said she couldn’t consort with the stable hand she had fallen in love with. She found herself at the railway station in Minneapolis and another Swedish woman offered her a job as a chambermaid, and off she went.  

I had two younger sisters, and we grew up in Summit Hill, which is a nice old historic neighbourhood. It sounds like such a mythical cliché to say it now, but it really was the sort of upbringing where all of us kids in the neighbourhood would just play outside all day during the summer and only come home for dinner. But then my parents split, and my dad left the family when I was 11. From that point on, I was the man of the house. Things were hard at home, and I had to get serious pretty young and start to contribute financially to the family. 

What I have a very clear memory of, through those years, is the incredible string of mentors and benefactors who were so important to me. That probably started with the Boy Scouts, where I discovered camping. I also had wonderful teachers. I went to public elementary school and then got a scholarship to St. Paul Academy (SPA). What the scholarship didn’t meet, they gave me a job in school to cover, so I actually worked as a janitor, including during the vacations. Church was a big part of my life too, and I also loved sports. When I got to SPA, I encountered soccer, and that became my number one. I was very into science, and the other thing I encountered at SPA was Russian. The school had hired a German teacher who also offered Russian, and he got us hooked by doing a slideshow: onion domes, John le Carré, Cold war spy cloak-and-dagger stuff. I fell in love with it.  

On applying for the Rhodes Scholarship 

I had applied to a few of the Ivies and got offers, but they insisted on taking my father’s income into account even though he was not willing or able to contribute. Whereas Macalester, God bless them, took my story on its value and gave me a full ride on the same deal as SPA, with a work-study on campus. I had fabulous professors, and our advanced seminars only had four or five students per class. It was the first time I was living on my own without all the family responsibilities. Some students struggled with the transition, but for me, it was, like, ‘So, let me just get this straight: I get to go to class, someone is going to cook for me, and then the rest of it is all about me? Wow!’  

I double-majored in pre-med and Russian. I was always interested in other countries, and that was an itch which developed and became part of my Rhodes story. My closest friends at Macalester came from Bangladesh, Bolivia, Slovenia, Malaysia and Japan, so the world sort of came to me. One of my other friends was Russian, and he and I did a radio show of Russian music together where we would play the Soviet national anthem at the start. This was at the height of the Reagan administrations ‘Evil Empire’ rhetoric, so people were a little puzzled. When I was a senior, I finally got to go to the Soviet Union, to what was then Leningrad. The city was like nineteenth-century Russian literature come to life, and it was a real political education too. It changed everything for me. 

I had been going merrily along, applying for med schools, but then my chemistry professor, Truman Schwartz (South Dakota & Merton 1956) who had been a Rhodes Scholar, told me about the Scholarship. I had had no idea about it before that, but I thought it sounded cool. The whole application process was so interesting. I was impressed and intimidated by how wide-ranging and thoughtful and personal the questions were. And it was only when I saw how tense all the other candidates were that I realised how big a deal this was.  

‘I was absolutely gobsmacked’ 

I chose Merton because Truman Schwartz had gone there, and it turned out to be perfect for me. I just immersed myself in it. I remember sitting in the old library there, reading about the Mongol invasions of Russia in the medieval period and realising that at that same time in history, there would have been someone sitting in the library exactly where I was sitting, studying whatever they were studying. I really loved the tutorial system too, and my tutor in history, Robert Gildea, was amazing.  

I started a second undergraduate degree, but this was the mid 1980s, when I could see the changes happening in the Soviet Union after Gorbachev, and I decided to focus more on the Soviet Union. The Trust agreed to pay for an extra year so that I could study for an MPhil. I wanted to geek out in infinite depth, and working with the professors at the Russian Centre at St Antony’s College gave me that.  

I had very mixed feelings about the class system in England at that time, but I loved the English friends I made, and I felt very at home. Plus, I was and still am a massive J.R.R. Tolkien fan. One day, I was in my rooms in Merton Street and the person who came to clean was chatting to me. She saw my collection of Tolkien books and said, ‘Well, of course, Mr Olson, you’ll know that these were Professor Tolkien’s rooms when he passed.’ I was absolutely gobsmacked.  

‘A lightbulb went off for me’ 

After Oxford, I started working in US-Soviet trade development. At that time, I had zero interest in business. But as I saw the impact that business and businesspeople could have in the service of other things, I began to take it far more seriously. I came back to the US and joined a group who had left McKinsey to start their own management consulting firm. They were looking for what they called ‘Alternative candidates,’ and, being a contrarian person, that sounded pretty good to me.  

That’s how I got into business, and I really caught the bug. I loved the problem-solving. After a while, though, I wanted more purpose to what I was doing. I had encountered a lot of writing about ecology and the economy and was connecting back to those early experiences I had had camping, which had sparked my love of the outdoors. Then, when I was a partner at Boston Consulting Group, I got the opportunity to do a piece of pro bono work with Conservation International, who were asking, ‘How should we work with business to achieve our conservation agenda?’ Boom! A lightbulb went off for me. That was 1999, and it was too early for big firms to take an interest in this sort of thing, so I jumped out and began to work independently. Then BSR came to me and said they wanted to build a consulting capability within their non-profit, to help companies work out what they needed to do to create sustainability. 16 years of building that team and that organisation, and I have never looked back.  

‘Be mindful of your inputs’  

It’s a privilege to work every day in the service of things you care about. Sometimes, though, it is tough to wade through the data on climate change and see the work that we’ve got to do. We must turn it into an inspiring vision, show people that this is a chance to make real change. And what I love about the work I do is that I must learn something brand new pretty much every week.  

To today’s Rhodes Scholars, I would say, take seriously the need to make your own work sustainable by taking care of yourself. Be mindful of your inputs. It’s like the intellectual equivalent of eating right. There are so many opportunities to immerse yourself in negativity, and we just don’t need to go there. And when it comes to your time at Oxford, resist the temptation to over-specialise. The value of breadth, the ability to make connections, will serve you well. Things change so quickly, and you need to have the ability to reapply what you know.  

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